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Tricks To Creating Better Financial Statements When Selling A Business


If your financial statements are a mess it makes your job of selling your business that much harder. Potential buyers dig much deeper than just the bottom line. If your numbers are sloppy or don't make sense potential buyers may not trust them and decide to find a better opportunity.


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1/23/2017
Contributor: Rob Hartman, Business Broker, SF Bay Area   Post ID: 1134

The easiest way to validate your financial statements is to provide government entity required forms that match your financial statements. If you can provide your quarterly BOE sales tax returns for 2 or 3 years and the sales totals on those reports match your financial statements, a buyer will more readily accept the numbers you present.

While anyone can make up a spreadsheet or add additional sales to Quickbooks before printing a Profit and Loss Statement, it is highly unlikely that someone will overstate sales, and pay an additional 9 percent tax on fake sales, just to defraud someone years later into paying more for their business.

Once the sales figures are verified, what's left is full disclosure of all costs. which can be done by checking ratios and industry averages etc.


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Helen Yoo: Escrow & Bulk Sale Services - Southern California

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Willard Michlin, CPA, Certified Fraud Examiner, Due Diligence Services

Willard Michlin, CPA #106752, offers buyers step by step training & assistance in doing Due Diligence Services when they are thinking of making an offer, or are in process of investigating a business purchase. He helps to determine the actual net profit even when there is cash. Call 805-428-2063.

Elizabeth McGovern: Escrow Services - SF Bay Area

McGovern Escrow Services, Inc., is a leading independent escrow company. We are a trusted partner with our clients, assisting them through the tangled bulk sale & liquor license transfer process. We provide attentive, quality & innovative customer service. Phone Elizabeth McGovern at 415-735-3645.

Ranvir S. Sandhu, Esq. - Legal Services For Buyers And Sellers

I've worked at top Bay Area law firms and have extensive experience with business entity formation, mergers, dissolutions, conversions, employment matters, including experience in reviewing and negotiating transactional documents such as leases and purchase agreements.

Mark Chatow, Esq.: Legal Services For Buying, Selling Businesses

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