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About us

Peter Radford Accountant and Tax Agent is a family owned and operated business with a commitment to excellence in customer service. Established in the local Morayfield area in 2001, we have enjoyed significant growth due to our focus on consistent and quality service.

Our firm has also continued to evolve and adapt to ensure our personalised and friendly service continues to meet the unique needs of our clients, helping them to make informed and educated financial decisions while removing the stress that can often come with these decisions.

Reliability, accuracy and our commitment to providing excellent services is how we help our clients, both business and individuals alike, put their best foot forward on their financial journey.

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Conducting due diligence when buying an existing business

Posted on December 2, 2020 by admin

You’ve found the perfect business for you to buy. It fits all your requirements and you’re in a position where you can comfortably buy the business. What’s next?

Before you sign the contract to finalise the buy, it is important to conduct due diligence. For this, you should review the financial records, business operations and legal documents. These will prepare you to manage the business and identify any risks or problems in process that you might need to tackle head on. You will also be able to better understand what will be expected of you as owner of the business and which responsibilities have been allocated to that position. 

You should review items such as: 

Additionally, you need to conduct financial due diligence. Examine the past 3 to 5 years of the following financial documents:

You should examine these to make sure that record-keeping has been conducted and maintained appropriately. This will also inform you of any changes that need to be made once you start running the business yourself. 

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