Jay Sachetti joined Jeff O’Brien, partner at Husch Blackwell and Dyanne Ross-Hanson, president of Exit Planning Strategies talked about the market for mergers and acquisitions, exit planning opportunities for companies that don’t end up for sale and how companies can maximize their eventual sale price during an early October panel at the first Upsize on Tap event at Summit Brewing Co. in St. Paul.
When the state Legislature passed a law requiring employers to provide paid leave and safe time for employees, Justin Bieganek started hearing differing details from friends, colleagues and peers.
business builder accounting
by Bob Rasmussen
It isn’t often that a business looks for a new accounting firm. Probably the biggest reason for a change is a disappointment with the firm’s service, high turnover of staff accountants, or the feeling that you are being bumped down the food chain from your original accountant. Another perception is that they just don’t get it.
Companies benefit most from accounting firms that have an interactive relationship with the business owner or senior management. It is that relationship that saves time and money in the long run.
Although every business is different, in the end it will boil down to a process that produces accurate information for financials, tax, regulatory, management and shareholder purposes. I have included some examples of poor and great practices in the chart below.
Accounting services are not a commodity, and are not priced as such. If you are an owner with a financial background, and you know as much or more than your accountant, good for you. Go get the cheapest one. If, however, your needs demand “great practices,” then pay for the value and the relationship.
Big, medium, small? Which do I choose? Think competence, read “experience.” Some firms have specialty practices for industries like yours, or businesses of your size. Ask. Do not, however, make a decision because of size. “They aren’t big enough” is just as false an assumption as saying “they are too big.”
Can I get great practices from this firm? Should I expect less than my customers do of me and my company? Do they get it? Do they understand my business? Interview a few to determine who measures up to your expectations, and then ask for references of like businesses. You will have this relationship for a long time, and it can be expensive to change.
