EPS 62- The Buyer's Perspective: What Buyers Look for in Your Financial Statements with Erica Goode

Sep 26

I had the pleasure of having Erica Goode, Fractional CFO to Coaches and Consultants, on the latest episode of the "Hourly to Exit" podcast, where we discussed some fascinating topics related to financial management, business growth, and the accounting industry.

Here are the key takeaways from our conversation:

1️⃣ Understanding the Balance Sheet: Erica explained how assets, debts, and equity work together on a balance sheet. This knowledge is crucial for business owners and potential buyers, as it helps in evaluating the financial health and value of a company.

2️⃣ The Importance of Accurate Financials: When forecasting the future of your business, Erica stressed the significance of having precise financials from the past to build a realistic projection. This includes understanding one-time expenses and not projecting them into the future.

3️⃣ Shifting Perspectives in the Accounting Industry: Erica shed light on the challenges and drawbacks faced by accountants, such as long working hours and high burnout rates. However, she also mentioned the positive shift happening within the industry, with younger accountants working towards change and bringing fresh perspectives to traditional accounting practices.

If you're interested in learning more about these topics and gaining valuable insights from Erica Goode, make sure to check out the full podcast episode. You don't want to miss it!

Connect with Erin to learn how to use intellectual property to increase your income and impact. hourlytoexit.com/podcast.

Erin's LinkedIn Page: www.linkedin.com/in/erinaustin/

Think Beyond IP YouTube Page: www.youtube.com/channel/UCVztXnDYnZ83oIb-EGX9IGA/videos

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More About Our Guest

Erica Goode has been a Certified Public Accountant for 15 years. She runs a virtual accounting firm supporting coaches and consultants with bookkeeping, accounting, and CFO services and also hosts the Coaches, Consultants, and Money podcast.

She’s a former Director of Finance at a Fortune 50 company and started her career as an auditor at a Big 4 public accounting firm. Erica is also the mom of 2 and the wife of a fellow CPA. She lives with her family in the mountains of Idaho.