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Figuring Out: Private Equity’s Impact on CPA Firms | Podcast #EP29 1 Credit

Figuring Out: Private Equity’s Impact on CPA Firms | Podcast #EP29 1 Credit

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Learning Objectives

  • Analyze the financial impact of private equity investments in CPA firms.
  • Identify key factors influencing firm valuations and EBITDA adjustments.
  • Assess the role of offshoring in improving firm profitability and efficiency.
  • Explore different capital acquisition models for CPA firm expansion.
  • Evaluate the cultural and operational changes resulting from firm transitions.

Course Overview

Welcome to another insightful episode of MYCPE ONE, where we dive deep into the evolving world of accounting and finance. In this episode, host Shawn Parikh sits down with seasoned industry expert Phil Whitman, CEO of Whitman Transition Advisors, to uncover the seismic shifts taking place in the CPA industry. With private equity investments reshaping firm valuations, partners contemplating their exit strategies, and the increasing demand for capital infusion, accounting firms are navigating uncharted waters. Are these changes unlocking new opportunities or posing unforeseen risks? What does it mean for the culture, profitability, and future of CPA firms? We tackle these pressing questions head-on, bringing clarity to the rapidly transforming landscape.

Phil Whitman brings a wealth of experience, having spent decades advising CPA firms on mergers, acquisitions, and transition strategies. His journey from managing law and CPA firms to spearheading one of the largest advisory organizations in the U.S. provides a unique perspective on the ongoing private equity boom. In this discussion, he breaks down the impact of enterprise valuation shifts, the role of EBITDA multiples, and how firms can position themselves for sustainable growth—whether through strategic partnerships or independent scaling. With real-world case studies and expert insights, Phil sheds light on the most pressing issues shaping the accounting industry's future.

Key Topics:

  • Private Equity Firm Valuations
  • Enterprise Value Calculation Methods
  • CPA Firm Mergers & Acquisitions
  • Offshoring and Profitability Strategies
  • Cultural Impact of Firm Transitions

This episode is packed with essential knowledge for CPA firm leaders, partners, and professionals looking to stay ahead in an industry undergoing rapid transformation. Tune in for expert guidance on navigating the complexities of mergers, acquisitions, and strategic growth in today’s accounting landscape.

On Demand Credits for All Qualifications

License details Credits Status
Finance for Certified Public Accountants (CPA-US) 1 CPE Approved
Finance for CPA in Canada 1 CPD Eligible
Finance for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Eligible
Association of Chartered Certified Accountants (ACCA) 1 CPD Eligible
Chartered Accountant - ICAEW 1 CPD Eligible
Finance for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Eligible
Finance for Maine Licensed Public Accountant (ME-LPA) 1 CPE Eligible
Chartered Accountants - Ireland (CAI) 1 CPD Eligible
Chartered Accountants - Scotland 1 CPD Eligible
CPA - Ireland 1 CPD Eligible

Additional Information

Credit

1

Course Level

Basic

Instructional Method

QAS Self Study

Group Internet Based

Pre-requisites

None

Advance Preparation

None

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MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

About Experts

Philip Whitman | Speaker on Accounting & Taxation | My-CPE

Philip Whitman

President, Whitman Business Advisors LLC

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Whitman Business Advisors LLC specializes in succession strategies for CPAs and CPA firms.
Phil Whitman is one of the top experts in CPA firm growth and management; he brings a service philosophy and contributes unique perspective and skills to help you achieve your succession and acquisition goals.

■ Pre-merger services
■ Transaction assistance
■ Post-merger integration
■ Succession Planning, including selecting successors
■ Strategic placements
■ Talent acquisitions
■ Facilitation
■ Coaching
■ Profitability
■ Training

As the former Chief Operating Officer of one of the Top 30 CPA firms in the Nation, and 25 year veteran in public accounting, I have worked with top management in overseeing day-to-day operations and ensured efficiency and profitability. I truly understand the inner workings and executive decision making factors of the mid-sized firm. Additionally, my accounting experience includes audit work in a Big Four firm, tax work in a large international firm, as well as experience as the COO/CFO of a law firm. I have also served as a general partner in a restaurant/real estate venture. I have authored articles and have been a featured speaker for the Association of Legal Administrators NYC Chapter.

I am a member of the NYSSCPAs, immediate past Chair of the Management of the Profession Oversight Committee, an active member of the Large and Medium Firm Practice Management Committee and former Chair of the Human Resource Committee. I was the Conference Chair of the Foundation for Accounting Education’s 2010 and 2009 Practice Management Conference and the 2008 and 2007 CFOs, Controllers, and Financial Executive Conference.

Contact me directly to discuss how I can positively impact your organization: 212-983-0035. Feel free to connect with me on LinkedIn using my email address: pw@whitmanbiz.com 

Enhance Your Finance & Management Skills with Shawn Parikh

Shawn Parikh

Co-Founder & CEO, MYCPE ONE

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Shawn Parikh is the CEO and Co-Founder of MYCPE ONE. A Chartered Accountant by qualification, he has over 15 years of experience of being a problem solver for small to mid-size firms and over time he has given consultation to thousands of CPAs, accountants and tax pros. Shawn has always been a big believer and advocate of social enterprises and small accounting firms & businesses. He consults and speaks on several topics ranging from Building Remote Team - Remote Working, Offshore Staffing, strategic planning, Scalability of Accounting Practice, cloud accounting, practice management, LinkedIn marketing, etc.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

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We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

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