This 8 credit hour course, taught by Garland Granger, CIA, CPA, CFE. covers in depth the financial and/or tax processes behind starting a business, selling a business, and leaving a business you are part of.

In this course you will identify the reasons why a sale or purchase might fail, explore cultural differences between businesses and how to make different cultures work, explore key information a seller and buyer would be interested in knowing prior to the acquisition, discover how to gain a better understanding of due diligence beyond the numbers, recognize how to screen out bad companies, and discover how to examine cash flows as a method of pricing.

Learning Objectives
  • Identify the reasons why a sale or purchase might fail.
  • Explore cultural differences between businesses and how to make different cultures work.
  • Explore key information a seller and buyer would be interested in knowing prior to the acquisition.
  • Discover how to gain a better understanding of due diligence beyond the numbers.
  • Recognize how to screen out bad companies.
  • Discover how to examine cash flows as a method of pricing.
Last updated/reviewed: August 26, 2023
34 Reviews (149 ratings)

Reviews

5
Anonymous Author
I like this course - I wanted to let you know I have completed all my CPE hrs and I really like your courses. Much better than previous home study courses I have taken. Your questions really make me have to think! I like the fact that the study guide is there for me all year and especially at tax time. I found a lot of info relating to my clients that I did not know before (or didn't remember). I will recommend your courses to all my tax preparer friends. Thank you for all your help and the time you took with me.

3
Anonymous Author
Interesting subject matter and very engaging instructor. However, this course is somewhat repetitive, quite dated in its references and presentation technology, and the final exam is very poorly written (repeated questions, poorly phrased questions, and one question that was outright wrong).

3
Anonymous Author
Speaker is interesting and makes good comparisons. Cons: Final exam questions (21, 24 and 38) are not stated correctly. Most of the final exam questions are worded in a way that is not easy to understand. Would have liked to see more written examples/real problems worked through.

5
Member's Profile
Very good presentation and I enjoyed the true "video" format. The personal stories help keep your attention. Much better than several of the other instructors that are simply reading a PowerPoint presentation.

5
Anonymous Author
This course covered a great deal of information. In addition to grammatical/spelling errors in the PDF document, several of the questions on the exam were confusing or misstated. One question was duplicated.

4
Anonymous Author
Very detailed and informative. Course material indicates that instructor is well informed on the subject. Instructor uses lots of personal examples which help better understand and remember the information.

4
Member's Profile
This course is good for any accountant whether practicing in public or industry. Exiting a business is something that every owner needs to think about extensively, and few put enough thought into it.

5
Member's Profile
I liked the personal stories and many other examples the presenter used. It made it easier to remember information, A straightforward course. Made a lot of logical sense and I learned a lot.

5
Anonymous Author
I really enjoyed the class. I can see myself referring back to the material in the future. There were some issues with the questions on the exam, but the class itself was well done.

1
Member's Profile
questions were written very poorly. including grammatical errors. including incorrect seller/buyer usage for one question. proof reading the questions would have helped a lot.

4
Member's Profile
It was a common sense enjoyable course; however, I agree not alot of specifics. Also exam was not overly professionally written and somewhat subjective in certain areas.

4
Anonymous Author
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5
Anonymous Author
Very comprehensive and detailed discussion around the anatomy of a deal, advantages and disadvantages to a variety of deals, risks and rewards to consider, etc.

4
Member's Profile
the lessons should show visuals (e.g., charts, graphs, etc....) not just the instructor speaking with hand and arm gestures. Other wise, great material!

3
Member's Profile
a couple questions did not make sense. Other than that the course was informative and gave good insight into the potential risks of business sales.

5
Anonymous Author
This was an excellent and interesting course. There was a lot of ground covered and the pdf material will be useful in the future. Thanks.

5
Member's Profile
I liked this instructor. He had a good way of explaining the issues and it was especially pertinent to what I do as a professional.

2
Anonymous Author
Many questions were very difficult to understand and determine how to answer. There are typos in both the material and questions.

5
Member's Profile
Really enjoyed this course, as it has really good information for anyone who will be involved in a transaction process.

5
Member's Profile
An excellent, knowledgeable teacher with great style and stories that facilitate the learning process. Recommended!!

5
Anonymous Author
Good review of some fundamentals related to entering or exiting small businesses. I enjoy the instructor's materials.

3
Member's Profile
Very long course for the amount of material covered. The final exam had many unclear questions and mistakes/typos.

5
Member's Profile
Very detailed and informative. Course material indicates that instructor is well informed on the subject.

5
Member's Profile
This was an excellent course and covered the main topics necessary when evaluating a potential exit.

5
Member's Profile
I enjoyed the practical tips and techniques as well as the Mr. Granger's energy and passion.

3
Member's Profile
several mistakes on the exam questions, repeated question, key word missing in the question

5
Anonymous Author
This is a long detailed course. good as always. keep up the good work illumeo.

5
Member's Profile
Very informative and well put together. Great course. I highly recommend.

5
Anonymous Author
Great speaker! Enjoyed the presentation. Highly recommend to others

5
Anonymous Author
The instructor is very knowledgeable and has a great presentation style.

5
Anonymous Author
Very comprehensive course regarding business ownership transactions.

4
Anonymous Author
Great course content - solid overview and supporting materials.

5
Anonymous Author
Good course, I really learned a lot and got good value from it.

5
Anonymous Author
Good overview of key questions regarding selling a business.

Prerequisites
Course Complexity: Advanced

No Advanced Preparation or Prerequisites are needed for this course. However, it is recommended to take the other courses in the series prior to completing this one.

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Questions and Answers1 Question
User picture

Question 5 has the answers as part of the question and I think it even notes the correct answer.
Question 13 and 14 are the same.
Question 24 appears to be written poorly and should be reworded.

Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
  Lesson 1- Course Overview and INTRODUCTORY DISCUSSION QUESTIONS22:32
  Lesson 2- WHY DO BUSINESS TRANSITIONS OFTEN FAIL OR DO GREAT HARM TO THE BUSINESS AFTER A TRANSITION?28:00
  Lesson 3- WHAT IS THE DRIVING FORCE BEHIND SO MANY COMPANIES BEING BOUGHT OR SOLD?3:11
  Lesson 4- THE FOUR D'S OF A BUSINESS EXIT STRATEGY AND TIPS FOR EXITING A BUSINESS6:09
  Lesson 5- HOW MANY TRANSITION STRATEGIES ARE AVAILABLE TO SELECT FROM ANYWAY?13:30
  Lesson 6- THE BUSINESS CULTURE DISCUSSION- WHAT DO YOU MEAN BY THE BUSINESS CULTURE?19:03
  Lesson 7- WHAT INFORMATION SHOULD THE SELLER PROVIDE FOR ME IF I AM INTERESTED IN BUYING THEIR COMPANY?6:46
  Lesson 8- WHAT IS DUE DILIGENCE AND HOW IMPORTANT IS IT? WHAT ARE INTERNAL AND EXTERNAL FISSURES?18:55
  Lesson 9- WHAT SHOULD THE BUYER DO TO LOOK FOR THESE FATAL FISSURES? WHAT IS THE MAIN PURPOSE OF DUE DILIGENCE?6:54
  Lesson 10- DOES THE SELLER HAVE ANY INTEREST IN KNOWING SOMETHING ABOUT THE BUYER?5:49
  Lesson 11- ARE THERE SITUATIONS THAT BUYERS SHOULD BE WARY OF IN A PURCHASE OF A BUSINESS?6:44
  Lesson 12- IF THE COMPANY PASSES THIS TEST, THEN WHAT HAPPENS? Cash Flow Analysis and Standard Break-Even Analysis7:49
  Lesson 13- IS THERE A GOOD EXECUTIVE SUMMARY THAT WOULD HELP ME KNOW WHAT TO LOOK FOR IN A DUE DILIGENCE PROGRAM?9:43
  Lesson 14- WHAT ARE SOME FACTORS THAT DETERMINE THE VALUE OF A BUSINESS?7:31
  Lesson 15- HOW DOES ONE DETERMINE THE VALUE OF A BUSINESS? PART 1 - INTRODUCTION10:48
  Lesson 16- HOW DOES ONE DETERMINE THE VALUE OF A BUSINESS? PART 2 - VALUATION BASED UPON ASSETS10:35
  Lesson 17- HOW DOES ONE DETERMINE THE VALUE OF A BUSINESS? PART 3 - VALUATION BASED UPON INCOME23:13
  Lesson 18- HOW DOES ONE DETERMINE THE VALUE OF A BUSINESS? PART 4 - EXAMPLE DETERMINING BUSINESS VALUATION14:09
  Lesson 19- HOW DOES ONE DETERMINE THE VALUE OF A BUSINESS? 8:35
  Lesson 20- NEGOTIATING THE DEAL - PART 1 - WHO NEEDS TO BE ON THE NEGOTIATING TEAM?10:41
  Lesson 21- NEGOTIATING THE DEAL - PART 2 - ARE THERE SPECIAL PROBLEMS FACING THE BUYER AND SELLER IN NEGOTIATIONS?19:18
  Lesson 22- NEGOTIATING THE DEAL - PART 3 - WHAT ARE THE VARIOUS WAYS THAT A FINANCIAL DEAL CAN BE STRUCTURED?25:08
SUPPORTING MATERIALS
  Business Ownership Transitions: Buying, Selling, and Exit Strategies Glossary/IndexPDF
  Business Ownership Transitions- Buying, Selling, and Exit Strategies Study GuidePDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam