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Level 4 Diploma in Business Management

Preparing financial statements for a partnership

BM404 · Finance and Accounting — Week 6 of 16

CourseBM404
Week6 of 16
SemesterII
TutorOnline in the course chat

This week’s topics

Preparing financial statements for a partnership

  1. Income statements
  2. Balance sheets
  3. Cashflow statements

What you will be able to do

  • 2.3 Prepare financial statements for a partnership.

Study materials

Further resources

  • Principles of Accounting Vol. 1, ch. 15.1: Partnerships – advantages and disadvantages · PDF · OpenStax (2019); pp. 842–846 · for registered students
  • Introduction to Business 2e, ch. 14.6: The statement of cash flows · PDF · OpenStax (2026), section 14.6 on why profit and cash differ and how cash flows are reported; pp. 490–491 · for registered students
  • Principles of Finance 2e, ch. 4.1: Cash versus accrual accounting · PDF · OpenStax (2026), section 4.1, a short comparison of cash-based and accrual-based recording of income and expenditure; pp. 100–101 · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
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Course plan
  • Week 1: What finance and accounting are for: branches of accounting…
  • Week 2: Rules and laws that shape finance and accounting
  • Week 3: How finance and accounting support business decisions
  • Week 4: Different financial statements and what each one shows
  • Week 5: Preparing financial statements for a sole trader
  • Week 6: Preparing financial statements for a partnership
  • Week 7: Adjustments to financial statements: accruals, prepayments …
  • Week 8: Midterm evaluation
  • Week 9: Adjustments to financial statements: depreciation and debt …
  • Week 10: Calculating financial ratios from a set of business accounts
  • Week 11: Comparing organisational performance using historical finan…
  • Week 12: Types of budget: operating, cash, fixed and master budgets
  • Week 13: Budgeting approaches: incremental, activity-based, value pr…
  • Week 14: Preparing different types of budgets
  • Week 15: Review and coursework completion
  • Week 16: Final evaluation and project assessment
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