Periodically, all family businesses need to make an objective evaluation of their key financial metrics and the person who is responsible for them. Typically, a controller's responsibilities with a family owned business cannot be found in any textbook. Financial control generally follows one of the following paths: 1. Back off—"It's my company and my checkbook." 2. Honey Do or Gene Pool—"Who else can you trust?" 3. Undersized—"Just give my accountant the shoeboxes." 4. Survivor—"He's been ...
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