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#3 Mastering Accounting for Pharmacy Owners: Tips for a Profitable Sale

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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