Magazine article The CPA Journal

Book Review: CPA Firm Merger Strategies That Work

Magazine article The CPA Journal

Book Review: CPA Firm Merger Strategies That Work

Article excerpt

By August J. Aquila, PhD, Allan D. Koltin, CPA, and Marc L. Rosenberg, CPA, Irwin Professional Publishing, 192 Pages, $50.00

Review by Alexander A. H. Bohtling, CPA, retired from Deloitte & Touche LLP

CPA Firm Merger Strategies That Work, written by consultants specializing in CPA firms, presents in considerable detail suggested merger procedures and makes numerous recommendations to medium-sized and smaller accounting firms considering merging.

The authors point out that while a substantial number of mergers takes place yearly, in many instances, for numerous reasons, they are not successful. The authors state that most CPA firms lack experience with mergers. This book provides guidance in making mergers successful.

The book consists of a preface and 15 chapters, some of the subjects being--why firms merge, getting organized, beginning the search, what to look for, interviewing candidates, the hard issues, merging firm policies and concepts, pitfalls, and negotiating the deal.

The chapter on hard issues covers such subjects as--Will their staff stay with us? Will their clients stay with us? will the partners get along? Will the cultures mesh? How will the firm be managed?

The chapter on negotiating the deal includes--valuing the practice, terms of payment, partner benefits, the element of risk in a cash deal, the merger agreement, and the presentation of a merger package to the partners. …

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