Understanding Partnership Accounting (Second Edition) is an investment partnership accounting guide written by Advent Software and the Financial Services Industry Group of American Express Tax and Business Services. The book covers the accounting and legal services that investment partnerships require. It also describes how investment partnerships allocate the results of their investments to the partners, including tax reallocations for performance fees, and other tax and reporting issues.
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About the Author
Advent Software is the world's leading provider of software solutions, data integration tools, and services for investment management professionals.
The Financial Services Industry Group of American Express Tax and Business Services is a world leader in delivering tax and advisory services to investment partnerships, hedge funds, and broker dealers throughout the US and around the world.
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Most Helpful Customer Reviews
7 of 8 people found the following review helpful:
3.0 out of 5 stars
it's OK as an introductory book,
By Joe Li (Connecticut, USA) - See all my reviews
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This review is from: Understanding Partnership Accounting (Second Edition) (Paperback)
The book provides an introductory overview of partnership accounting. All the calculations and formulas cited in the book are from its own software. Those similar formulas are also provided in other softwares which are much more commonly used, e.g. MS Excel. Lots of time spent on the tax allocations rather than on the P&L allocations. There're also apparent errors in the formulas as well, such as the annualized return calculation on P. 246.
5.0 out of 5 stars
Excellent Choice!,
By
This review is from: Understanding Partnership Accounting (Second Edition) (Paperback)
This book is well-written and is easy to understand even if a person has no clue about hedge funds and their inner workings. It provides knowledge of partnership accounting relating to hedge funds without using complicated industry lingo. Excellent choice to buy to understand the history of hedge funds and its evolution. It also provides an intimate knowledge of the hedge fund industry today along with relevant regulatory guidelines. Understanding Partnership Accounting (Second Edition)
4.0 out of 5 stars
Great Start,
By
This review is from: Understanding Partnership Accounting (Second Edition) (Paperback)
This book is a good account of the fundamentals of Partnership Accounting. I would suggest that unless you do not have any experience in the space look for a more detailed compilation.
On a brighter note, it serves as a good COMPLETE coverage of the Alternative Investments space from a cursory accounting and record keeping perspective. I would say read it nonetheless if you have the time/luxury. -Richie Etwaru
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Inside This Book
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First Sentence:
"Investment partnerships, commonly known as ""hedge funds,"" have become a favorite medium of investment of an elite group of securities investors." Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
pooled investment structures, hot issue securities, layered gains, aggregate account balances, performance fee charge, layering allocation, partner withdraws capital, reallocation dates, partnership allocates, performance reallocation, partnership charges, economic capital balance, tax capital balance, directing gains, full netting, netting methodology, uneven partners, layering methodology, incentive reallocation, economic percentages, total unrealized gain, appreciation allocated, aggregate methodology, aggregate methodologies, withdrawing partner Key Phrases - Capitalized Phrases (CAPs): (learn more)
Advent Partner, Allocating Aggregate Gains, Balance Percent, Setting Up An Investment Partnership, Understanding Economic Allocations, End Cap, Internal Revenue Code, Understanding Break Periods, Allocating Layered Gains, Allocation Partner, Partnership Beginning, Schedule K-is, Allocating Aggregate Section, Allocating Layered Section, Advisers Act, Allocating Aggregate Hot Issue Gains, Beg Cap, Selecting Reallocation Dates, Understanding Constructive Sales, Ending Profit, Fee Perf, Understanding Aggregate Assumptions, Understanding Built-In Gains, United States, Allocating Layered Hot Issue Gains New!
Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
"Investment partnerships, commonly known as ""hedge funds,"" have become a favorite medium of investment of an elite group of securities investors." Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
pooled investment structures, hot issue securities, layered gains, aggregate account balances, performance fee charge, layering allocation, partner withdraws capital, reallocation dates, partnership allocates, performance reallocation, partnership charges, economic capital balance, tax capital balance, directing gains, full netting, netting methodology, uneven partners, layering methodology, incentive reallocation, economic percentages, total unrealized gain, appreciation allocated, aggregate methodology, aggregate methodologies, withdrawing partner Key Phrases - Capitalized Phrases (CAPs): (learn more)
Advent Partner, Allocating Aggregate Gains, Balance Percent, Setting Up An Investment Partnership, Understanding Economic Allocations, End Cap, Internal Revenue Code, Understanding Break Periods, Allocating Layered Gains, Allocation Partner, Partnership Beginning, Schedule K-is, Allocating Aggregate Section, Allocating Layered Section, Advisers Act, Allocating Aggregate Hot Issue Gains, Beg Cap, Selecting Reallocation Dates, Understanding Constructive Sales, Ending Profit, Fee Perf, Understanding Aggregate Assumptions, Understanding Built-In Gains, United States, Allocating Layered Hot Issue Gains New!
Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Citations (learn more)
This book cites 1
book:
- Understanding Partnership Accounting by American Express in Front Matter (1), and Front Matter (2)
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