Partnership Accounting ON DEMAND
Available Until
Your Desk
1.0 Credits
Member Price $29.00
Non-Member Price $33.00
Overview
This comprehensive course is designed to deepen your understanding of partnership accounting, distinguishing it from corporate accounting by focusing on transactions unique to partnerships. It offers a thorough exploration of various key topics, including the contribution of funds to a partnership, management of capital accounts, and the allocation of profits and losses. The benefits of this course are significant: participants will gain expertise in handling the admission of new partners and the retirement of existing ones, ensuring accuracy and compliance in these critical transitions. Additionally, the course provides a detailed guide on the process flow for partnership liquidation, a complex procedure requiring precise accounting treatment. By completing this course, you will enhance your knowledge and skills in partnership accounting, enabling you to navigate the unique challenges and transactions specific to this area with expertise and confidence.
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