Partnership Accounting ON DEMAND
Available Until
Your Desk
1.0 Credits
Member Price $29.00
Non-Member Price $33.00
Overview
Many aspects of accounting for a partnership are the same as for a corporation. However, there are some variant features in partnership accounting. This course focuses on the accounting for all types of transactions that are unique to a partnership. Topics covered include the contribution of funds to a partnership, capital accounts, the allocation of profits and losses to partners, the admission of a new partner into a partnership, and the liquidation of a partnership.
Highlights
Partnership Advantages and Disadvantages. partnership Agreement. Timing Issues. Partnership Recordkeeping. Essential Accounting for Partnerships. Case Study for Standard Partnership Operations. Admission of a New Partner to the Partnership. Liquidations with Interim Partnership. Liquidations with Interim Payments.
Prerequisites
None.
Designed For
CPAs, CFOs, controllers, financial professionals, and auditors.
Objectives
Identify the uses to which a capital account is put. Describe the accounting for the various partnership-related transactions. Cite the proper treatment of income taxes in a partnership. Note the proper accounting treatment when a partner retires. Describe the process flow for a partnership liquidation.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $33.00
Member Price $29.00