Deal Talk With 7ma

It pays to come prepared before entering any business transaction, particularly if you are selling your business. No one likes surprises and a lack of clarity during the process, both on the buyer’s side, as well as on your end as a seller, can lead to major problems. However, there are several accounting steps to consider ahead of time that can help the process run more smoothly. This episode of Deal Talk with 7MA features Pat McKay from Templeton & Co., a full-service accounting firm. McKay dives deep into the necessity of planning and preparing before a transaction, especially on the accounting and numbers aspect in the business. (02:50) She stresses how doing the books and other accounting tasks well in advance can help you tell the story of your business better. Having your books aligned shows stability in your business and you can gain confidence from potential investors. (06:45) It also allows you the opportunity to spot any issues and correct them beforehand. Besides confidence, you also increase