Visit cpajournal.com to read the very latest from The CPA Journal
June 2009 » Guiding Family Businesses Through...
Full articles of The CPA Journal are available to NYSSCPA members and CPAJ subscribers ONLY. Please login to access this content.
Nonmembers and nonsubscribers, you can apply for NYSSCPA Membership here and get unlimited access to The CPA Journal, or you can create a non-member online account here and purchase individual articles.
James J. Chrisman, PhD, and Jess H. Chua, and Pramodita Sharma, PhD, and Timothy R. Yoder, PhD, CPA
The vast majority—84%—of family-owned businesses intend to pass control of that business to the next generation of family members (“Making a Difference: The Pricewaterhousecoopers Family Business Survey 2007/08,” November 2007). Many are unprepared, because succession happens only once in a generation. Researchers have estimated that only about one-third of all family businesses make it into the second generation (Richard Beckhard and W. Gibb Dyer, Jr., “Managing Continuity in the Family-Owned Business,” Organizational Dynamics, vol. 12, no. 1, 1983; John L. Ward, Keeping the Family Business Healthy: How to Plan for Continuing Growth, Profitability, and Family Leadership, Jossey-Bass, 1987), so families are very likely to seek help from their most trusted advisors: their accountants (2007 American Family Business Survey, Massachusetts Mutual Life Insurance Company).
Advertising with the NYCPA is your opportunity to reach the greatest number of business advisors in the most important business state in the nation.
Post a resume or job listing in our Career Center to connect with hundreds of employers or job seekers.
Join 21,000+ of your peers. Apply for membership today!
Find CPE Conferences, Seminars, and Online Courses Here.
Get insight and analysis into all areas of the profession.
Content provided by and exclusively for NYCPA members.
Stay up to date with important NYCPA news.
A daily roundup of the latest from around the accounting and financial industry.
A strong PAC means a strong profession. Donate Today.
Help develop a strong network of connections.
A resource for NYCPA Members.
Members, Get expert answers to technical questions.
Start your career off right with an experienced mentor.
It's never too early to start thinking about your career.