Succession
Articles
Succession planning
Footnote
March 26, 2025
Whether you are the buyer or the seller, having a solid succession plan is the key to a successful merger.
Selling a CPA or accounting firm — marketplace developments
Footnote
October 1, 2024
Sunbelt Business Advisors/True North Mergers & Acquisition, national experts in the sale of firms in the CPA industry offering their insights.
Which business transition options are owners likely to pursue?
April 1, 2024
See what external or internal options for transferring business that business owners/leaders aware of and which of these options are they likely to pursue.
What’s important for business transitions in Minnesota?
February 19, 2024
Learn about key issues for owners in their succession and transition planning from the University of Minnesota Extension’s he Minnesota Business Succession and Transition Study.
Developing a succession plan in today’s world
Footnote
May 30, 2023
This article cover four aspects of a succession plan: developing a succession plan, compensating the retiring partner or partners, transitioning clients and transitioning firm management.
How to address three common staffing challenges
Footnote
March 29, 2023
In the annual survey of MNCPA public practice members, 45% of respondents said their top concern this tax season was not having enough staff to complete the work.
Step-by-step guide to setting up an ESOP
October 26, 2022
There are many things to consider before you set up an ESOP. Here are seven steps to take to help you determine whether an ESOP is right for you.
Benefit corporations and employee ownership: A legal and ownership structure for the future
September 28, 2022
There is a way that a company can maximize its sustainability, profitability and socially conscious structure simultaneously: adopt the legal status of a benefit corporation and become employee-owned, either in whole or in part.
3 questions every business owner needs to address in their succession plan
August 31, 2022
When it comes to succession planning, most business owners probably realize there are many important factors at play. But what exactly do they need to address during the process?
The pros and cons of ESOPs: Weighing your options
July 21, 2022
When it comes to choosing a business transition strategy, owners have a lot to think about. For those considering an employee stock ownership plan, it is important to begin with a basic understanding of the pros and cons of an ESOP.
Who runs a company owned by an Employee Stock Ownership Plan (ESOP)?
June 22, 2022
An ESOP operates as a trust, which has two separate features of ownership like any other business. The difference is who is responsible for these features.
Tax treatment of ESOPs: Your guide to Internal Revenue Code Section 1042
May 19, 2022
For shareholders who meet certain conditions and requirements, Section 1042 of the Internal Revenue Code provides an opportunity to defer capital gains taxes on a business sale.
MNCPA Perspectives blog posts
Connect with legislators concerning CPA pathways licensure bills
February 27, 2024
Can one voice have an influence? Yes! When you share how an issue affects you, your business or your clients, it elevates an issue for legislators...
CPA licensure bills return to Minnesota Legislature
February 14, 2024
The 2024 Minnesota legislative session convened this week and bills introduced last year automatically rolled over into the second year of the biennium...
Reaching high school students: Ideas from CPAs
February 13, 2024
As part of our annual MNCPA Tax Survey, we recently asked members a score of questions, including their ideas about what they have done or suggest for encouraging more students to get involved in the accounting industry...
Recent grads dish on 150 hours, CPA licensure
December 13, 2023
Hear from six current and recent students from two Minnesota universities to see how they view the accounting profession, the requirements around accreditation and how these weighed into their professional choices...
We must change the conversation around pathways to CPA licensure
October 5, 2023
It is no secret the field of accounting has both pipeline and diversity problems. There are many actions that should be taken to address these problems, and one of those is to follow Minnesota’s lead...
The CPA pipeline: Students are the future
August 29, 2023
The 2023 MNCPA Annual Meeting this month provided an opportunity to reflect on challenges by discussing areas of the profession that still need addressing, such as the CPA pipeline...
Experiential learning: An evolution in how knowledge is obtained by prospective CPAs
August 15, 2023
As the AICPA and NASBA consider new ways to enhance the attractiveness of the profession to counter a drop in accounting student enrollments and retain them...
Why should a school district care about CPA licensure?
August 4, 2023
Working in public education, I am acutely aware of how difficult it is to hire quality staff, but I never took a step back to think about what this means in other sectors throughout Minnesota...
Broadening the pathways to CPA licensure discussion will continue
May 22, 2023
The MNCPA board-approved bill, with bipartisan support in both the Minnesota House and Senate, did not become law this year, but this is not the end of this bill...
CPA pathways discussion: Addressing the objections
May 8, 2023
The reason driving the change — the declining number of CPAs — is well-documented, so what are the objections to broadening the pathway to CPA licensure? Let’s discuss...
Comment on exposure draft concerning CPA exam scores
March 29, 2023
The MNCPA, along with 15 other state societies, support a 36 month window for CPA exam scores to be valid, allowing busy candidates more viable time to sit for the exams. Please send your support of this change to NASBA...
CPA credential legislation is start of discussion
March 1, 2023
Declining high school graduation sizes, increasing demand for CPAs, increasing retirements and declining number of candidates sitting for the CPA exam are converging...
Response to Journal of Accountancy article, Feb. 10, 2023, ‘NASBA upholds 150-hour education requirement’
February 27, 2023
We believe we are closer to the AICPA and NASBA in finding solutions for this critical issue than the article leads readers to believe...
An agile accounting profession requires adaptable licensing requirements
February 23, 2023
There are not enough CPAs now nor expected in the future to meet the needs of communities, entities and clients, setting up a perfect scenario for future financial failures. Introducing legislation was driven by several years of MNCPA member concerns and feedback...
The gift of time, knowledge ahead of CPA exam changes
February 13, 2023
I have good news for anyone who is currently taking the exam or will begin the process this year: The Minnesota Board of Accountancy (BOA) approved an 18-month credit extension...
Broadening the path to CPA licensure
January 31, 2023
Last month, MNCPA members received an email that the MNCPA board approved moving forward with drafting legislation to broaden the path to CPA licensure in Minnesota...
Blackout dates ahead of CPA exam changes
January 18, 2023
A completely overhauled CPA exam will hit testing centers in January 2024. Newsflash: That’s officially one year away! Mark these important dates on your 2023 calendars...
MNCPA members: What concerns us most about upcoming tax season
January 10, 2023
We asked our members as part of the annual MNCPA Tax Survey about what concerns them most about this upcoming tax season...
It’s a big week for accounting in Minnesota!
November 7, 2022
In an ongoing effort to grow the CPA pipeline, the MNCPA joined forces with more than 35 state CPA societies and the AICPA in a concentrated effort to raise awareness of the accounting profession within schools nationwide.
Join the MNCPA!
MNCPA membership grows as you do, helping you to be the best accounting professional you can be at every stage of your career.
Become an MNCPA member and:
- Pay less to attend many CPE and YPG events.
- Save up to $150 on conferences with the VIP rate.
- Access more than 20 free CPE credits annually.
Plus, new associate members receive a deep discount on the required ethics course for licensure.
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