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Quality of Earnings Analysis

We help you mitigate risk so you can confidently close on your business acquisition.

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Experience Matters

When you need quality of earnings analysis, experience is crucial. As a specialized transaction advisory CPA firm and due diligence service provider, Midwest CPA excels in delivering thorough and insightful quality of earnings (QoE) reports. 

Chris and Alyssa did a Q of E for me. Went above and beyond. Incredible work. Honestly they did incredible work. My buddy who worked at a big 4 consulting work doing Q of E said he would have charged 3X as much as Midwest charged. Extremely hard workers answering emails at all times of the day often shooting me back early in the AM. extremely in depth, couldn't recommend chrism and his team more.
Jonathan Farchi-Segal
Jonathan Farchi-SegalCEO | Clinton Harbor
Chris is the real deal. He is efficient, thoughtful, and great to work with. He helped me with financial diligence, including q of e, for a manufacturing business.
Will Gano
Will Gano President | Bear Stewart LLC
Chris has been an invaluable resource during my SMB acquisition. He started as my financial due diligence provider, putting together a comprehensive QoE, and has become a trusted partner that I plan to use for all bookkeeping and financial operations post-acquisition. Highly recommend to anyone looking to acquire an SMB!
Ethan Reznikoff
Ethan ReznikoffCEO | D'vine Taste Promotions
Midwest was able to turn around the report in 3-4 weeks as promised and knocked it out of the park. The final call to go over the report included some of our investors and have been through this process many times before. Everyone was very impressed with the details and in depth analysis done on the reporting and the information provided by Chris and his team. Thank you Midwest for all your hard work you did on this project. We are now using them for our other company and utilizing CFO services they offer.
Karel Taska
Karel TaskaCEO | Eagle Eye Home Services Inc
Chris is very knowledgeable, responsive and easy to talk to. His firm added a lot of value during the due diligence period and helped in closing the transaction successfully.
Andri Teneqexhi
Andri TeneqexhiCEO | Gregg Communications Systems, Inc
Chris is an absolute top notch M&A financial due-diligence provider. He and I have worked on many, many deals together and not only has his advice and services been reliable, accurate and very actionable, but he has been very responsive to client needs and requests. I always am happy to send clients over to Chris because I know that they will be treated and served very well.
Eric Hsu
Eric HsuManaging Partner | Clear Focus Law, PLLC
Chris is awesome. Super knowledgeable, professional, and incredibly responsive. He assisted me with my QoE for my business acquisition and he and the team performed the task efficiently and effectively. I am excited to continue to work with him for years to come.
Jacob Forbis
Jacob ForbisOwner | The Customer Story

How Our Due Diligence Process Works

Kickoff & Engagement

We connect directly with the seller and get the data pipeline flowing.

Collect Data & Analysis

We gather financial data, reconcile books, and analyze trends and adjustments.

Seller Interviews

We hold structured calls with sellers to clarify operations and accounting.

Final Report & Review

We deliver adjusted EBITDA, working capital analysis, and a detailed report of all of our findings.

Our Clients Have Bought in a Variety of Industries

Midwest CPA advises self funded searchers, traditional searchers, private equity groups, family offices, and strategic acquirers in evaluating acquisitions with transaction values up to $50 million. 

  • HVAC
  • Government Contracting
  • Professional Services
  • Retail
  • Landscaping
  • E-Commerce
  • Healthcare
  • Manufacturing
  • Plumbing
  • Trucking Logistics & Transportation
  • Hospitality & Restaurants
  • Real Estate & Construction
  • Marketing Agencies
  • Electrical Contracting

Frequently Asked Questions

We recommend that our clients budget 4 weeks for the quality of earnings analysis in due diligence for mergers and acquisitions, including operational due diligence and due diligence audit reviews. 

The project is often completed in 2-4 weeks as long as the seller provides data and answers questions within a reasonable timeframe.

A quality of earnings report can be a substantial investment.

That being said unless you can afford to easily lose the entire purchase price of the business you are buying the benefits from m and a due diligence accounting makes sense to protect yourself by having an expert analyze the financials. 

Were happy to speak with you at any point in your search. 

The best time to reach out is when you are getting close to submitting an LOI on a deal you are serious about for us to perform due diligence and secure your investment. 

An audit is different from a QoE in a variety of ways. For one an audit is a regulated procedure that has specific guidelines for how it needs to be completed. A QoE is a consulting engagement that can technically be done by anyone although they are typically done by CPAs.

An audit is much more balance sheet focused while a QoE is more focused on the income statement. The audit is looking to confirm that the financials comply with GAAP while a QoE helps a buyer understand the financial performance of the company that can be projected into the future as well as the key operating metrics.

On deals where audited financials are available the audit is complimentary to the QoE.

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