Touchstone Talks: Ep 6 - Show Me the Earnings! Why Q of E Matters
In this episode, Deborah sits down with Jason Correia, a Principal at CLA and an expert in Quality of Earnings (Q of E) analysis for M&A transactions. Jason breaks down why Q of E reports are essential for verifying the accuracy of financials, understanding true cash flow, and normalizing earnings to reflect what a business will really look like under new ownership.
Discussed are key topics like normalizing owner-related expenses, determining net working capital, and how these analyses impact deal value and negotiations. Jason also shares insights from his career journey—from auditing to M&A—and how his team at CLA supports both buyers and sellers through every phase of the transaction.
Tune in to learn how Q of E can reveal the real earnings story behind the numbers.
www.claconnect.com
www.claconnect.com
Creators and Guests
Host
Deborah Agrafojo
Deborah has influenced and directed strategic and owner-operator mergers and acquisitions in many different fields. She believes strongly that assisting a business to grow and develop strong practices is the best way to create a company that is poised for exit planning or gaining an equity growth partner.
Producer
David Chmielewski
At the end of 2013 David founded DirectLine Media, a video production company that specializes in creating memorable and compelling video content for businesses. Admired for his unique and creative visual story telling, David continues to work with small to large businesses and nonprofit organizations.
Guest
Jason Coreia
Jason is a Principal in CLA’s Private Equity industry group and joined CLA in 2021. Jason has significant experience in both assurance and consulting, which includes working with a wide range of closely held companies in many industries. He provides buy-side quality of earnings and post-deal support to private equity, family offices, strategic buyers, and search funds. He also provides sell-side quality of earnings and assistance services to privately held middle market companies working with an investment bank or broker to enhance their value. Jason has more than 12 years of experience on transactions (and more than 15 years of overall experience) involving middle-market companies in industries such as manufacturing and distribution, healthcare, technology, professional services, construction, transportation/logistics and other B2B businesses.
Editor
Stefania Sassano
Known for being determined and focused, Stefania is often the first to memorize lines and dedicates significant effort to each role. She excels in both comedic and dramatic performances, embracing the motto by Mark Twain, "Find a job you enjoy doing, and you will never have to work a day in your life," making every project both a professional commitment and a joy.