Articles of Partnership

Accounting Works of the Century

KNOW ALL MEN BY THESE PRESENTS:
That we, undersigned, all of legal age and residents of the Republic of the Philippines
have agreed to amend a limited partnership under the terms and conditions here in set forth and
subject to the provisions of existing laws of the Republic of the Philippines.
RECITAL
The partners here to wish:
(a) to enter together into the business of serving citizens in terms of auditing, bookkeeping, and
other forms of accounting such as tax accounting, financial accounting, and cost accounting.
And;
(b) in order to provide for honest and best accounting performance.
Now, therefore, consideration of the premises and mutual covenants and agreements set
forth herein, the parties agree as follows:
ARTICLE 1
Section 1: Name of the Partnership
The name of the partnership shall be "Accounting Works of the Century".
Section 2: Nature of the Business
The nature of the business shall be a service business.
Section 3: Principal Location of the Business
The partnership's principal office shall be located at 548 Brgy. Langkaan 1, City of
Dasmarias, Cavite.
Section 4: Purposes of the Business
4.1 the purpose of the business is to be able to provide high quality performance of CPAs
in terms of accounting. And;
4.2 to ease the works of the business men for they can hire trustable CPAs.
ARTICLE 2
The names, citizenship, and residence of the partners of the said partnership are as
follows:
NAME
Bautista, Ericka Mae R.
Espiritu, Ma. Wilhermina L.
Magpantay, Menchius S.
Quiambao, Arlene V.
Rosales, Maila Jane C.

CITIZENSHIP
Filipino
Filipino
Filipino
Filipino
Filipino

RESIDENCE
Tanza, Cavite
Trece Martires City, Cavite
Silang, Cavite
Alfonso, Cavite
Imus, Cavite

ARTICLE 3
The 3rd day of July 2014 is the original date of formation of the "Accounting Works of
the Century" as a partnership organization.
The term for which said partnership is to exist in 30 years from the original recording
of the said partnership by the Securities and Exchange Commission. And is subjected to the
extension if the partners are still in contact with each other.
ARTICLE 4
The initial capital contribution of each partner to the partnership shall be five million
in Philippine currency contributed in cash or other assets by the partners equally, within 15 days
from the day this agreement is signed. The investment of non-cash assets shall be based on its
fair market value.
Excess contribution of the partner shall be considered as loans. If the partner fails to
meet the agreed capital at the given span of time, that partner is unable to have temporary
withdrawal for the first quarter of the partnership.
Bautista, Ericka Mae R.
Espiritu, Ma. Wilhermina L.
Magpantay, Menchius S.
Quiambao, Arlene V.
Rosales, Maila Jane C.

ARTICLE 5
Limited Industrial Partner
General Partner
Limited Secret Partner
Limited Managing Partner
General Partner

ARTICLE 6
The partnership shall adopt the fiscal year as an accounting period. Its financial statements
shall be in a report form and shall be examined by internal and external auditors to verify its
neutrality.
ARTICLE 7
The profits and losses of the partnership shall be distributed by allowing salaries, bonus to
the managing partner and the balance divided equally. The managing partner shall receive 5%
bonus every month.
The measurement of income and its distribution shall be done monthly.
ARTICLE 8
Each partner is allowed to have Php 10,000 drawings as their monthly allowance. Each
partner shall receive Php 100,000 every month as their salary.
ARTICLE 9

If ever the partnership leads to dissolution and liquidation, Ms. Menchius Magpantay as
a liquidating partner shall be responsible in taking the right process. She shall follow the LumpSum method of liquidating.
The remaining general partner or partners shall have the right to continue the business in
cases of death, retirement, civil interdiction, insanity or insolvency of a general partner.
IN WITNESS WHEREOF, we have hereunto set our hands this 3rd day of July 2014 at
Indang, Cavite, Philippines.

ERICKA MAE BAUTISTA

TIN:
MA. WILHERMINA ESPIRITU
TIN:
MENCHIUS MAGPANTAY
TIN:
ARLENE QUIAMBAO
TIN:
MAILA JANE ROSALES
TIN: