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#3 Mastering Accounting for Pharmacy Owners: Tips for a Profitable Sale
Manage episode 463455070 series 3622778
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In this episode of EVCOR Advisor, host Max Beairsto delves into crucial accounting practices for pharmacy owners, especially when preparing to sell their business. Highlighting the importance of meticulous financial records, Max consults with Lorraine Myers, a Senior Valuation Consultant, who outlines six key areas: accounting procedures, bank reconciliations, accounts receivable/payable, commercial terms, inventory, and capital assets versus expenses. Tune in to learn how good accounting can significantly impact your business's health and sale value, and get practical advice on maintaining accurate and detailed records.
00:00 Introduction to the EVCOR Advisor
00:12 The Importance of Accounting in Pharmacy Ownership
00:43 Challenges in Pharmacy Accounting
01:09 Key Areas of Focus in Accounting Practices
02:29 Expert Insights from Lorraine Myers
02:46 Detailed Breakdown of Accounting Areas
06:40 Conclusion and Final Thoughts
07:47 Closing Remarks and Contact Information
Connect with Max Beairsto:
Web Site: Evcor.com
LinkedIn: @EVCOR & @MaxBeairsto
Purchase Your Copy of Buy It Smart: https://a.co/d/iNcXH1Q
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