Practice Management: Succession Planning for Accountants

Online Course on Succession Planning for AccountantsPractice Management Succession Planning for Accountants Online CPD Training Course

As professional accountants grow older their thoughts inevitably turn to their exit – not only from the firm, but from practicing accountancy altogether. If you start to consider your departure from business life, you must consider if the firm you have built up will have value in someone else’s eyes.

During your career you have built relationships with clients, helped them, served them and supported them. Yet the question remains will your firm be worth anything to anyone else? And if so, how much and to whom?

buy Succession Planning for Accountants online course

A succession plan allows for your orderly exit. This means it is not left to chance and there is a plan in place which gives a degree of comfort to those involved, particularly staff.

This course is part of a series of courses based on the IFAC Guide to Practice Management for Small and Medium Sized Practices and has been produced with the permission of IFAC.

Work through the knowledge and application modules to understand the theory and exchange your ideas with your peers. Then complete the final Putting it into Practice module to create an action plan for your practice.

Succession Planning enables you to:

• Develop a succession plan
• Value their firm
• Understand the procedures of an internal succession
• Understand the options of shared ownership

Learning outcomes

Understanding succession planning
• Succession planning for the sole practitioner
• Developing your succession plan
• Your future purchaser
• Preparing for your succession plan
• Selecting your succession option
SPA understanding

Valuation methodologies
• Valuation of your firm
• Incorporating external factors
• Valuation methods
• Capitalization of future maintainable earnings
• Capitalization rate
• Discounted cash flow
• Rule of thumb
• Net book value
SPA valuation

Shared ownership or sale of firm?
• Options for shared ownership
• Thinking about shared ownership
• Partnerships and mergers
• Consolidation
• Sale of firm
• Sale of fee parcel
• Progressive sell-down
SPA shared ownership

Internal succession plans and exit considerations
• Internal succession
• Admission of new partners
• Buyout by existing partners
• Exit considerations
SPA internal

Putting in to practice
This module helps you put the learning from this course in to practice in your firm.
SPA practice

Target audience for Succession Planning for Accountants

This course is suitable for all accounting professionals looking to leave their practice.

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You will receive 3 or 12 months (depending upon your chosen option) unlimited free access after payment of a one off registration fee.

Length of courses

Each course takes approximately 4 hours to complete.

CPD points

Once you've completed the course you will be able to claim 4 verifiable CPD hours, if required. CPD points are claimed by the registered user, who can be someone different to the person who pays if required.


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