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The critical analysis that all business should undertake
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| Many buyers expect the financial statements to be in accordance with Generally Accepted Accounting Practices (GAAP). In addition many standard Purchase Agreements state that the seller financials are prepared in accordance with GAAP. In is preferable to have GAAP financials for several years prior to sale, or at least be able to go back on a year end basis and make estimated adjustments to GAAP. It is important to present the best possible picture of the seller by use of proforma financials. |
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