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Welcome to November! It continues to be warm here in Alberta and we hope it is the same in your area.
Over the past few weeks, we have seen an increase in activity regarding practice transition with several phone calls from accountants looking to retire. We are working with them to have the listings up and running before the Christmas break.
Currently we have a listing in Thunder Bay, Ontario. This is a small practice positioned for growth with net cashflow to the owner at just under 200k. Considering the current economic climate, CPAs just starting in public practice may consider acquiring this practice and having a solid start with immediate cashflow. To find out more, check out the listing here.
I have recently presented the first Accounting Practice Transition seminar through CPA Alberta. We had a great group of participants and we are looking forward to presenting again on December 4th. CPA Alberta members can register for the 4 hour PD course through the CPA Alberta portal. For practitioners from other provinces, please contact us to register under our firm's name. We are offering this to CPAs from other provinces as there aren't many courses like this across the provincial Institutes. We will provide the written confirmation of your attendance to use for your PD certification. Please find more information here.
Accountants' Financing Program through TD Bank
We have been in contact with a few commercial bankers across the country. Rob Wild from TD has kindly provided us with a pamphlet regarding the lending offerings specific to accounting practice acquisitions. For more details, please contact Rob directly at rob.wild at td.com or check out the pamphlet here.
International Accounting Day
Each year on November 10th, we celebrate International Accounting Day. The day is in honour of Italian mathematician Luca Pacioli, who published the first book about double-entry bookkeeping on November 10, 1494. As the old joke goes, to be successful in accounting is to always have debits equal credits. We encourage all of you to have a little fun and celebrate with your staff. You may consider showcasing your staff and all their hard work on social media, sharing some knowledge with your clients, or enjoying cake or lunch in the office.
Please keep checking our website for any new listings. We would love to hear from you if you have any practice management tips or would like to find out more about practice transition.
