Question

why is capability communication important in partnership accounting

Answer 1

Within a partnership, there are two main communications strategies that need to be considered. Firstly plan to share information about the partnership internally, within the organization and with the accounting partners. With effective and capable internal communications strategy in place, partners may reach out externally to begin to share and build the message in hopes of successfully implementing the objectives and goals of partnership. Partners need to collaborate in planning their communications strategies at the onset of the partnership, considering each other’s procedures, policies, requirements and objectives, thus it is important to build plan for internal as well as external communications plan. A clear and open messages drum up internal support for the partnership, helpful in the identification of the opportunities or gaps. Between partners, capable communication can eliminate some of the misunderstandings that may have negative impacted the performance of the business.