Business and technology qualifications, Levels 3-6, in Brussels. Explore qualifications
Portal login
Level 4 Diploma in Accounting and Business

Partnership Accounting and Reporting

AB403 · Principles of Financial Accounting — Week 7 of 16

CourseAB403
Week7 of 16
SemesterI
TutorOnline in the course chat

This week’s topics

Partnership Accounting and Reporting

  1. Partnership agreements and legislation
  2. Profit and loss appropriation accounts
  3. Partners' capital and current accounts
  4. Comprehensive partnership final accounts
  5. Partnership Agreements
  6. Shareholder and Partnership Agreements - UK

What you will be able to do

  • 3.1 Explain the purpose of preparing final accounts for sole traders and partnerships.
  • 3.3 Prepare final accounts, including relevant adjustments, for a specific partnership business.

Activity

Start with this week’s 2 videos, then: Seminar, guided reading and a short written task: explain the purpose of preparing final accounts for sole traders and partnerships.

Study materials

Videos

  • Partnership Agreements · YouTube · Galton College · 19 min · for registered students
  • Shareholder and Partnership Agreements - UK · YouTube · singlelaw · 6 min · for registered students
  • Accounting - What is a partnership and how are partnerships accounted for? · YouTube · Rebecca's Finance Tutorials · 5 min · for registered students

Further resources

  • Introduction to Financial Accounting, Lyryx 2023-A, ch. 13: Proprietorships and Partnerships · PDF · Other, textbook chapter; pp. 533–552 · for registered students
  • Principles of Accounting, Volume 1: Financial Accounting, ch. 15: Partnership Accounting · PDF · OpenStax, textbook chapter; pp. 855–882 · for registered students
  • Partnership Act 1890 · Reading · legislation.gov.uk, legislation · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
Week 6Midterm
Course chat

Admitted students ask questions on this week’s page in the student portal: an AI assistant trained on the course answers first, and during the course’s timetabled classes Connect to your tutor brings your tutor into the chat, who may start a call if needed.

Open this week in the portal
Course plan
  • Week 1: Foundations of Financial Accounting and Record-Keeping
  • Week 2: The Double-Entry Bookkeeping System
  • Week 3: Period-End Financial Concepts and Trading Performance
  • Week 4: Accounting Adjustments for Accruals, Prepayments, and Recei…
  • Week 5: Capital Expenditure and Depreciation of Non-Current Assets
  • Week 6: Financial Statements for Sole Traders
  • Week 7: Partnership Accounting and Reporting
  • Midterm: Midterm evaluation
  • Week 9: Financial Statement Analysis and Interpretation
  • Week 10: Professional Ethics and Conduct in Accountancy
  • Week 11: Accounting Regulation and External Audit Fundamentals
  • Week 12: Applying Principles of Financial Accounting in practice: ca…
  • Week 13: Assignment workshop: research, planning and referencing
  • Week 14: Assignment workshop: drafting, feedback and improvement
  • Week 15: Review and coursework completion
  • Final: Final assessment and submission
Back to the course
Scroll