Partnership accounts
13 September 2012
Students at Intermediate level need to develop competence in the preparation of accounts for Partnerships, which this article explains.
Preparing for assessment in both the skills test and the examination in Unit 5, Maintaining Financial Records and Preparing Accounts, students must prepare accounts for Partnerships.
The unit’s range statement refers to the partnership appropriation account, partners’ capital and current accounts, together with the profit and loss account and the balance sheet...