Ownership of Accounting Firms-Free-Samples-Myassignmenthelp.com

Question: Discuss about the Accounting firm that operate under the Parnership Model. Answer: Introduction Different kind of ownership is present and can be used by the business to attain the goals. In this report, the major emphasis is on the accounting firms that operate under the partnership model, as well as privately owned. The report highlights the concept of private versus public ownership. As per the report, it is clear that the partnership firm is more important in the general course of business and leads to high level of productivity. From the report, it is clearly indicated that the market and the service must be focussed and then a decision regarding the shift to new form must be done. Moreover, the report stresses on the fact that why what are the different forms of ownership that can be undertaken as per the functioning. Case study There are various types of organizations, however, the publicly listed companies that are the PLCs has assumed a place of vital importance. Further, there have been cases of gradual shifts from the partnership form of business to other forms of business that include incorporations, limited liability partnership, and PLCs (Pickering, 2012). Going by the normal functioning it can be said that the partnership form of business has contributed to the performance of the professional firms. It is due to the fact that the partnership form is easy to operate and function. This leads to a better result and helps in reaping benefits. The research question indicates the partnership versus public ownership. The chapter is based on the performance of the accounting firms. As per the chapter, the major emphasis is on the accounting firms and has been specifically studied so as to derive the fact that whether the partnership form of business is more efficient in nature. The ownership structure of the professional firm is the major consideration in this scenario (Pickering, 2010). As per Pickering, the benefit can be generated when there the firm can operate in a well-defined manner. The form of business must suit the taste of the business so that a better yield can be gathered. The partnership versus public ownership of partnership firm indicates the level to which these structures are beneficial. Going by the case study, it is observed that both the structures ha their own pros and cons. Professional service firms through the concept of partnership are likely to benefit from the scenario because productivity is highe r and leads to the better projection of the materials (Pickering, 2012). Overview As per the normal scenario, it can be stated that partnership is the most efficient form for professional service firms (PSFs). However, a gradual movement is witnessed to public listed companies. This has indicated that the PSFs are transferring to a less efficient form. Going by the case study it was observed that the public owned companies had a higher level of growth but productivity was on the lower verge (Greenwood, 2007). Hence, it signifies that multiple measures must be undertaken for the evaluation of the complex constructs. Moreover, the research remained limited owing to the lack of information. Moreover, there has been limited data availability and hence finding s was not appropriate in nature. Case study link with the topic The case study question relates to the topic in the manner that the partnership, as well as public ownership, needs better coordination so that the fluency of both the firms remains undisturbed. The ownership can be changed when there is a better coordination among the management. There might be a difference in the revenue, however, will have a difference in the productivity too. However, going by the case study it can be commented which among the two is better suited for the purpose of business. Selection of the case study The group chooses this case study because the study has been conducted with the help of two Australian Accounting PLC in contrast to the sample of an accounting firm that is mid tier. This case study highlights the fact that the accounting PLCs has attained a string revenue growth rate but productivity has been lower as compared to the sample of the partnership (Von, 2007). Hence, the major emphasis was on the performance of the publicly owned PSFs in contrast to the partnership. Another reason why the group selected this is that the proxy measures used in the study give an indication of the sample public listed company in contrast to the partnership sample (Pickering, 2012). Further, the group wanted to stress on the fact and bring better disclosure to the forefront regarding the partnership versus public ownership. References Pickering, M. E 2012, Partnership Versus Public Ownership of Accounting Firms: Exploring Relative Performance, Performance Measurement and Measurement Issues, Australasian Accounting, Business and Finance Journal vol. 6, no. 3, pp. 2012, 65-84 Greenwood, R, Deephouse, DL Li, SX 2007, Ownership and performance of Professional Service Firms, Organization Studies, vol.28, no.2, pp219-238. Pickering, M 2010, Benefits expected by accounting firm partners selling their firms to publicly listed companies, Australian Accounting Review, vol. 20, no.4, pp. 358-371. Von N, A 2007, Is public ownership bad for professional service firms? Ad agency ownership, performance, and creativity, Academy of Management Journal, vol.50, no.2, pp. 429-445.