Buying, selling, and valuing financial practices : the FP transitions M&A guide

Intro -- Buying, Selling, and Valuing Financial Practices -- Contents -- Foreword -- Preface -- For Sellers -- For Buyers -- Acknowledgments -- Chapter 1 The Basics You Need to Know -- Avoiding the Critical Mistakes -- Valuation: The Great Debate -- Purpose Informs Value -- Assessing What You Have Built (or Are Acquiring) -- Who Is Selling? Transition Strategies by Ownership Level -- Overcoming Attrition: Public Enemy No. 1 -- What Is Being Sold? -- Organizing the Marketplace -- Exit Plans versus Succession Plans versus Continuity Plans -- Exit Plan -- Succession Plan -- Continuity Plan -- The Planning Continuum -- Chapter 2 Value and Valuation Fundamentals -- An Overview -- What Creates Value? -- Standards of Value -- Most Probable Selling Price -- Fair Market Value -- Investment Value -- Fair Value -- Valuation Approaches and Methods -- Income Approach -- Market Approach -- Asset Approach or Asset-Based Valuation Approach -- The Rule of Thumb Method of Valuation -- Application of Standards and Approaches -- Making Sense of It All -- Who Is Qualified? (to Offer an Opinion of Value) -- Valuations for Bank Financing -- Chapter 3 Solving Valuation -- The Blue Book Standard -- Lessons Learned -- A Value Calculation -- How It Works -- Step 1-Analyzing Transition Risk -- Step 2-Analyzing Cash Flow Quality -- Step 3-Analyzing Market Demand -- Step 4-Considering the Impact of Payment Terms/Taxes -- Recurring versus Nonrecurring Revenue -- Assessing Transition Risk -- Measuring Cash Flow Quality -- Fixing the Fracture Lines -- The Profitability Issue -- Chapter 4 Building and Preserving Value toward the End of Your Career -- 1. Get a Position Fix -- 2. Focus on the "M" in M&A -- 3. Obtain a Formal, Third-Party Valuation -- 4. Understand the Impact of Terms and Taxes on Value -- 5. Consider Alternative Strategies: Sell and Stay Opportunities.