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Course Details

Partnership Accounting (Course Id 1093)

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Author : Steven Bragg, CPA
Status : Production
CPE Credits : 1.0
IRS Credits : 0
Price : $14.95
Passing Score : 70%
Primary Subject-Field Of Study:

Accounting - Accounting and Auditing for Course Id 1093

Description :

The Partnership Accounting course focuses on the accounting for all types of transactions that are unique to a partnership. The discussion includes 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.

Usage Rank : 0
Release : 2016
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : Self-Study.
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 05-Aug-2016
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - NASBA Registry - 1093

Keywords : Accounting, Partnership, Accounting, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

    Recognize the uses to which a capital account is put.
    Describe the accounting for the various partnership-related transactions.
    Recognize 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.
Course Contents :

Chapter 1 - Partnership Accounting

Partnership Advantages and Disadvantages

The Partnership Agreement

Structure of Accounts

Timing Issues

Partnership Recordkeeping

The Essential Accounting for Partnerships

Contribution of Funds

Contribution of Other than Funds

Salaries and Salary Allowances

Interest on Capital Balances

Withdrawal of Funds

Withdrawal of Assets

Allocation of Profit or Loss

Income Taxes

Tax Reporting

Case Study for Standard Partnership Operations

Admission of a New Partner to the Partnership

Retirement of a Partner

Liquidation of a Partnership

Basic Liquidation Process

Partner Negative Account Balance

Partner Loans

Liquidations with Interim Payments

Review Questions

Glossary

Accounting Course 1093 Home: https://www.cpethink.com/accounting-cpa-courses
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