Sale of Certified Public Accountancy Firm

• Category: Contracts - Bailment
• State: Multi-State
• Control #: US-1340988BG
• Format: Word; Rich Text

Description

Public Accountancy means offering professional service to the public, and may include, but is not restricted to, services offered by a public accountant as defined under the Public Accountancy Act. It includes one or more kinds of services involving accounting or auditing skills, including the issuance of reports on financial statements, the performance of one or more kinds of management, financial advisory or consulting services, the preparation of tax returns or the furnishing of advice on tax matters A Sale of Certified Public Accountancy Firm is the sale of a company that provides professional accounting services to the public. This includes the preparation of financial statements and tax returns, auditing, and consulting services. Depending on the size of the firm, the services may vary. The sale may include the accounting firm, its name and goodwill, client base, and associated assets such as work product, client records, office equipment, and software. There are several types of Sale of Certified Public Accountancy Firm: 1. Asset Sale: In an asset sale, the buyer and seller agree to the transfer of some or all of the firm’s assets, including client records, work product, office equipment, and software. 2. Stock Sale: In a stock sale, the buyer purchases the ownership rights of the seller in the firm. The firms assets and liabilities are transferred to the buyer. 3. Merger: A merger is a combination of two or more firms, in which the assets and liabilities of each firm are combined into one entity. 4. Spin-Off: A spin-off is a sale of a portion of the firm to an outside entity. The portion could be a product line, a division, or a geographic area. The spun-off portion of the firm is then owned by the outside entity.

A Sale of Certified Public Accountancy Firm is the sale of a company that provides professional accounting services to the public. This includes the preparation of financial statements and tax returns, auditing, and consulting services. Depending on the size of the firm, the services may vary. The sale may include the accounting firm, its name and goodwill, client base, and associated assets such as work product, client records, office equipment, and software. There are several types of Sale of Certified Public Accountancy Firm: 1. Asset Sale: In an asset sale, the buyer and seller agree to the transfer of some or all of the firm’s assets, including client records, work product, office equipment, and software. 2. Stock Sale: In a stock sale, the buyer purchases the ownership rights of the seller in the firm. The firms assets and liabilities are transferred to the buyer. 3. Merger: A merger is a combination of two or more firms, in which the assets and liabilities of each firm are combined into one entity. 4. Spin-Off: A spin-off is a sale of a portion of the firm to an outside entity. The portion could be a product line, a division, or a geographic area. The spun-off portion of the firm is then owned by the outside entity.