Business Financial Planning

The Business Life Cycle: Building Wealth

Course Overview
This course will introduce the user to the different steps in a business life cycle. This includes an overview of business planning, options for securing additional capital, as well as product pricing and the use of internal sales staff vs. commissioned agents. Additionally, the importance of building wealth through acquisitions and diversification of assets is also discussed. Finally, a discussion of the key considerations with respect to disposing of the business is also presented.

Learning Objectives:

After completing this course, the course participant should be able to:

  • Recognize the importance of a business plan including how often it should be reviewed.
  • Recognize the timing of when most businesses will generally restructure.
  • Identify what types of retirement plans are considered defined contribution plans.
  • Identify the target return for a business acquisition including the period of time the acquiring business should repay the costs of the acquisition.
  • Specify the frequency with which an owner of a business should review their estate plan.
  • Define EBITDA and recognize its importance with respect to business valuations.
  • Identify the tax consequences of goodwill in a business acquisition.
  • Distinguish between the tax rates on ordinary income versus capital gains.

  • Prerequisites/Advanced Preparation:


    Speaker / Author:

    Richard L. Hecht, CPA, is the Managing Member of Audubon Consulting Group LLC. Mr. Hecht advises clients on a variety of strategic, financial, accounting and tax issues. He counsels business owners on critical decisions relating to growth opportunities, mergers and acquisitions, divestitures, corporate restructuring and ownership transitions.

    Previously, Mr. Hecht was a senior partner and member of the Operating Committee of Marks Paneth LLP, the 14th largest accounting firm in the New York metropolitan area. Marks Paneth LLP has grown from revenue of $25 million at its founding in 2000 to a $100 million firm. His practice focus was business and tax consulting with clients. He has also spoken before legal groups regarding law firm management and accounting issues.

    An active participant in numerous professional organizations, Mr. Hecht is a member of the American Institute of CPAs and the New York State Society of CPAs (NYSSCPA), where he was a Vice President.

    Mr. Hecht donates his time and expertise to nonprofit organizations. He is a Member of the Board of Directors of Community Capital New York, a CDFI, and the Budget, Management and Advisory Committee for the City of White Plains and is a past Director of Story Corps.

    Mr. Hecht holds a Bachelor of Arts in Political Science from Cornell University and a Master of Business Administration in Accounting from New York University.


    Price (USD)

    Standard: $74.85


    Course Code : 99HEC03

    Release Date : 04/22/2015
    Expire Date : 03/31/2023
    Credits :
    CPE 3.00
    QAS 3.00

    Length : 2hr 30min
    Course Level : Basic
    Course Type : New Standards
    Passing Grade : 70%
    Format Type : eLearning
    Mobile Compatible
    Field Of Study : Finance

    Theme : Business Financial Planning

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