| Title: |
Guiding Family Businesses Through the Succession Process. |
| Authors: |
Chrisman, James J.1; Chua, Jess H.2; Sharma, Pramodita3; Yoder, Timothy R.4 |
| Source: |
CPA Journal. Jun2009, Vol. 79 Issue 6, p48-51. 4p. |
| Subject Terms: |
*ACCOUNTANTS; *SUCCESSION planning; *BUSINESS planning; *LEADERSHIP; FAMILY business succession |
| Abstract: |
The article discusses an eight-step planning process for certified public accountant (CPA) advisors to help clients with family business succession. The role of the CPA in the succession planning process is explained. The need to derive the criteria for selecting a successor from the goals of the family is emphasized. It stresses the importance of defining and communicating the new role of the retiring incumbent to prevent leadership conflicts. |
| Database: |
Business Source Premier |