The Pharmacy Ownership Podcast

Cash Vs. Accrual Accounting for Pharmacies

Buying or selling a Pharmacy? Schedule an Appointment with our transition specialistIn this episode, Ollin B. Sykes, CPA, CMA, CITP and Austin Murray break down the key differences between cash and accrual accounting for independent pharmacies. They explain how accrual-based financials provide a clearer picture of pharmacy performance, from third-party receivables and inventory adjustments to balance sheet impacts on profitability.Check out all of our social media:  Facebook Twitter (X) LinkedIn Instagram YouTube Ollin Sykes – CPA, CITP, CMA LinkedIn More resources about this topic: Podcast - Independent Pharmacy Accounting FundamentalsPodcast - Avoiding Expensive Mistakes

Pharmacy Asset Sales 101

Buying or selling a Pharmacy? Schedule an Appointment with our transition specialistIn this episode, Austin Murray and Ollin B. Sykes delve into the complexities of pharmacy asset sales. They discuss the strategic considerations for both buyers and sellers. From asset allocation to the valuation of goodwill and script files, this episode provides a comprehensive guide to navigating these transactions.Check out all of our social media:  Facebook Twitter (X) LinkedIn Instagram YouTube Ollin Sykes – CPA, CITP, CMA LinkedIn More resources about this topic: Resource - Pharmacy Startup Costs: FinancingResource - Pharmacy Startup Costs: Leases/Facility Planning

Pharmacy Ownership in 2025: Avoiding Expensive Mistakes

Buying a Pharmacy? Schedule an Appointment with our transition specialistThe NCPA Pharmacy Ownership Workshop provides valuable insights for both new and existing pharmacy owners. But what does ownership look like in 2025 and what are some of the major, and expensive mistakes owners can avoid? In this episode of The Pharmacy Ownership Podcast, Ollin Sykes, CPA, CMA, CITP, and Austin Murray discuss insights from a recent pharmacy ownership workshop, focusing on the importance of avoiding costly mistakes in pharmacy transactions and the need for strategic planning in pharmacy startups. Tune in to learn more about: - Mistakes made in the early stages and the long-term financial impacts.- Lease agreements and how to avoid burning through working capital.- Securing financing with cash flow forecasting.- And more! Interested in learning more about the podcast team and their experience? Click here  Click here for the transcriptCheck out all of our social media:  Facebook Twitter (X) LinkedIn Instagram YouTube Ollin Sykes – CPA, CITP, CMA LinkedIn More resources about this topic: Resource - Pharmacy Startup Costs: FinancingResource - Pharmacy Startup Costs: Leases/Facility Planning

Inventory and Your Valuation: Tips For Maximizing The Value of Your Pharmacy

Inventory can make or break the value of a pharmacy - especially during a sale.  But how do you ensure you’re handling it the right way? In this episode of The Pharmacy Ownership Podcast, Ollin Sykes, CPA, CMA, CITP, and Austin Murray break down the complexities of pharmacy inventory valuation and how it impacts transactions from both the buyer and seller perspectives. Tune in to learn more about: Why seasonal and expired items could hurt your bottom line How pre-sale inventory management can boost cash flow The differences between script and OTC inventory Why accurate dating and pricing matter And more! Stay up to date on new episodes by liking and subscribing!  Interested in learning more about the podcast team and their experience? Click here  Click here for the transcriptCheck out all of our social media:  Facebook Twitter (X) LinkedIn Instagram YouTube Ollin Sykes – CPA, CITP, CMA LinkedIn More resources about this topic: Podcast - What to Look for When Buying a PharmacyPodcast - Improving Cash Flow with Inventory Management

Due Diligence: What to Look for When Buying a Pharmacy

Looking at buying a pharmacy? Do proper due diligence - schedule a meeting with us here.The most important step you can take when buying a pharmacy is performing the right due diligence, but what should you be looking for?In this episode of The Pharmacy Ownership Podcast, Scotty Sykes, CPA, CFP®, and Ollin Sykes, CPA, CITP, CMA share critical insights into the due diligence process when purchasing a pharmacy.Tune in to learn more.Did you like this episode? Stay up to date on new episodes by liking and subscribing!Want to read and follow along with this episode? Click here for the transcript.Stay connected with us on social media:FacebookTwitterLinkedInInstagramOllin Sykes , CPA, CITP, CMA LinkedInScotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP Twitter More resources about this topic:Podcast – What is Due Diligence