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| Author: | Thorne-Thomsen, T. Truskowski, J. |
| Title: | The importance of partnership agreements |
| Journal: | Journal of Accountancy
1994 : JAN, p. 92-97 |
| Index terms: | ACCOUNTING CONTRACTS MANAGEMENT |
| Language: | eng |
| Abstract: | The preparation and periodic review of a CPA firm's partnership agreement is critical to practice success. A properly drafted and comprehensive agreement that is updated regularly can prevent or minimize many problems that otherwise might arise as the practice develops. Because a partnership is intimately involved with the partners' personalities, no two partnerships are exactly the same. Thus, no model partnership agreement can cover many concerns, goals and management styles and practices of every accounting practice. |
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