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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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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