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Course Details –:
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What you’ll learn
- Process for setting up a partnership
- The allocation of net income to partners
- The recording of partner withdrawals
- Recording the partnership closing process
- Journal entries related to a partner leaving the partnership
- Journal entries related to adding a new partner to the partnership
- The liquidation process for a partnershiA comprehensive problem on the accounting cycle
- Key terms definitions and explanations related to partnership
Description-:
Partnership accounting will cover accounting topics related to a partnership form of business entity.
This partnership course will focus on the accounting issues that are different in a partnership as compared to other types of entities like a sole proprietorship or corporations. As we focus on the differences, we always want to keep in mind the similarities in accounting for different business entities. Most of what we have learned about the double entry accounting system and day to day accounting transactions in prior courses will remain the same. We are concentrating on the areas that will different because the differences are where the new information lies.
We will start by defining what a partnership is and comparing the characteristics of a partnership with other business entities. Understanding one business entity and its components are often best learned by contrasting them with the attributes of others, always considering the relative pros and cons, thinking of situations and circumstances that would benefit one form of business entity over another.
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You will be learning from somebody who is a:
• CPA – Certified Public Accountant
• CGMA – Chartered Global Management Accountant
• Master of Science in Taxation
• CPS – Certifies Post-Secondary Instructor
• Curriculum Development Export
As a practicing CPA the instructor has worked with many technical accounting issues and helped work through them and discuss them with clients of all levels.
As a CPS and professor, the instructor has taught many accounting classes and worked with many students in the fields of accounting, business, and business applications.
The instructor also has a lot of experience designing courses and learning how students learn best and how to help students achieve their objectives. Experience designing technical courses has also benefit in being able to design a course in a logical fashion and deal with problems related to technical topics and the use of software like QuickBooks Pro.
Content Includes:
• Process for setting up a partnership
• The allocation of net income to partners
• The recording of partner withdrawals
• Recording the partnership closing process
• Journal entries related to a partner leaving the partnership
• Journal entries related to adding a new partner to the partnership
• The liquidation process for a partnership
• A comprehensive problem on the accounting cycle
• Key terms definitions and explanations related tpartnerships
Who this course is for:
- Accounting students
- Business owner
- Anyone who whats to learn accounting
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Free 12800 100% off
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