Practice Sales: The Role of the CPA

Artwork for podcast The Dental Boardroom

Episode 60 • 6th February 2024 • The Dental Boardroom • PracticeCFO

00:00:00 00:35:50

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You cannot sell a dental practice without clean books. And you definitely shouldn’t buy a practice without having an accountant evaluate its potential profitability.

But a good dental CPA has value beyond assisting with the basics of bookkeeping and price assessment.

So, what is the full value proposition of an experienced CPA in the context of a dental practice sale?

On this episode of our Dental Practice Transitions series, Dental Attorney Matt Odgers serves as guest host and interviews Wes Read on the role of a CPA in the practice transaction.

Wes explains how a good dental CPA forecasts the range of profitability for a buyer, and he walks us through the process of financial due diligence in a dental transition.

Listen in to understand how a CPA helps buyers make business decisions after closing and develop the mindset of a business owner to grow a financially successful dental practice.

Topics Covered

An overview of the CPA’s role in a dental transaction

How a good dental CPA assesses the profitability of a practice

Wes’ approach to forecasting the range of profitability for a buyer

How Wes defines financial due diligence in a dental transaction

Using a seller’s tax returns to validate data on a P&L

How a dental CPA might coach buyers on business decisions

What to do as a seller if your books are not in order

What a buyer should expect in terms of CPA fees for due diligence

PracticeCFO’s relationship with a buying dentist after closing

What differentiates the mindset of a clinician vs. business owner

Connect with Matt Odgers