Lawyers and Accountants advising on the purchase of a newsagency have a responsibility to ensure that the advice they provide is accurate. It is frustrating hearing one or the other make a statement that is not based in fact.
One accountant recently told a prospective newsagency purchaser that it may not be a good business to buy because News Corp. is taking control of all the newspaper home delivery runs.
This is not true. Newsagents can hand their newspaper home delivery runs if they wish but it would be their choice.
The T2020 project trialled more than a year ago in South East Queensland to facilitate newspaper home delivery territory consolidation did not proceed as trialled.
I find accountants frustrating when trying to sell our business. I know they have some sort of duty but when they don’t understand the newsagency model and still give advice it is lacks clarity.
Steve ignorant advice fro accountants is unprofessional.
Considering acquiring a new agency. Any recommendations for an accountant who understands the nature of news agency businesses in Sydney?
A professional accountant will stick to his brief, which is to verify the books and statutory obligations of the subject business. To advise or comment otherwise is way off their mandate and any non financial or non statutory commentary should be disregarded. In that sense it doesn’t matter if the accountant has direct experience with newsagencys or not. Numbers and laws are numbers and laws and any professional should be able to advise appropriately. If you want advice about a business field or any other market place issue there is a plethora of alternate expertise available.
K, I’ve seen irresponsible and ignorant advice cost newsagency owners dearly while accountants have sat by and fleeced them for their fees.