…And what they’re NOT entitled to.
Partners are entitled to a lot. At some firms, they are virtually royalty. But that’s no way to run a firm these days.
Here, Marc Rosenberg, CPA, and author of How To Bring in New Partners and a CPA Trendlines affiliate, lists what every partner – especially new and wanna-be partners – need to understand.
More from Marc Rosenberg: How to Make Partner? | Why Accounting Firm Partners Are “Popping Prozac like M&M’s” | The 15-Item Checklist for Your Next Partner Retreat | Five Key Responsibilities for a New Partner | Planning a Partner Retreat for Real Results | 6 Steps to Get Your Business to the Next Level | The 10 Biggest Mistakes in Reading MAP Statistics | Re-Engineering Partner Accountability | Marc Rosenberg: Why CPAs Aren’t Making More Money [VIDEO] | Marc Rosenberg: Slow Learners Need Not Apply | 10 To-Do’s for a Partner Buyout
A partner IS entitled to:
1. Attend partner meetings and retreats.
2. Have access to all confidential firm financial data.
3. Receive a return on capital; repayment of capital when he/she leaves the firm.
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