Dissolution of Partnerships
13 September 2012
During assessment at Technician level students may be required to prepare account entries "relating to the dissolution of the partnerships" which this article explores.
Some students have asked whether dissolution of partnerships is assessable under the existing Standards for Unit 11, Drafting Financial Statements (Accounting Practice, Industry and Commerce). Guidance notes issued by the AAT make it clear that Element 11.2 may require students to prepare "partner’s current and capital accounts, including entries relating to the admission...