The basic aspect of partnership accounting
This article describes the basic aspect of partnership accounting. The first part of this paper aims to explain the characteristics of a partnership, types of partners and partnership, partnership agreement, and advantages and disadvantages of operating as a partnership. The second part of this pape...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
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Institute of Interdisciplinary Business Research
2009
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| Online Access: | http://psasir.upm.edu.my/id/eprint/17022/ http://psasir.upm.edu.my/id/eprint/17022/1/The%20basic%20aspect%20of%20partnership%20accounting.pdf |
| _version_ | 1848843125042184192 |
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| author | Yaacob, Zuraini Jurina Ismail, Jurina Jusoff, Kamaruzaman Said, Roshima Awang, Norasmila |
| author_facet | Yaacob, Zuraini Jurina Ismail, Jurina Jusoff, Kamaruzaman Said, Roshima Awang, Norasmila |
| author_sort | Yaacob, Zuraini |
| building | UPM Institutional Repository |
| collection | Online Access |
| description | This article describes the basic aspect of partnership accounting. The first part of this paper aims to explain the characteristics of a partnership, types of partners and partnership, partnership agreement, and advantages and disadvantages of operating as a partnership. The second part of this paper discusses an accounting procedures for a partnership firms. It highlights the method of accounting for partnership capital and the final accounts to be prepared by a partnership firm. In any partnership firms, there may be changes in partnership. A partnership firm is possible to admit new partners into the firm and it is also possible for any partner to leave the firm due to death or retirement. The third part of this paper explains factors contributing to changes in a partnership and the steps to be taken by a partnership business to record for changes in a partnership. At the end of this paper, the writers discuss the accounting procedures for dissolution of partnership. It is hoped that this paper will serve as a beneficial input to partnership businesses. |
| first_indexed | 2025-11-15T08:10:03Z |
| format | Article |
| id | upm-17022 |
| institution | Universiti Putra Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T08:10:03Z |
| publishDate | 2009 |
| publisher | Institute of Interdisciplinary Business Research |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | upm-170222016-02-01T01:27:20Z http://psasir.upm.edu.my/id/eprint/17022/ The basic aspect of partnership accounting Yaacob, Zuraini Jurina Ismail, Jurina Jusoff, Kamaruzaman Said, Roshima Awang, Norasmila This article describes the basic aspect of partnership accounting. The first part of this paper aims to explain the characteristics of a partnership, types of partners and partnership, partnership agreement, and advantages and disadvantages of operating as a partnership. The second part of this paper discusses an accounting procedures for a partnership firms. It highlights the method of accounting for partnership capital and the final accounts to be prepared by a partnership firm. In any partnership firms, there may be changes in partnership. A partnership firm is possible to admit new partners into the firm and it is also possible for any partner to leave the firm due to death or retirement. The third part of this paper explains factors contributing to changes in a partnership and the steps to be taken by a partnership business to record for changes in a partnership. At the end of this paper, the writers discuss the accounting procedures for dissolution of partnership. It is hoped that this paper will serve as a beneficial input to partnership businesses. Institute of Interdisciplinary Business Research 2009-10 Article PeerReviewed application/pdf en http://psasir.upm.edu.my/id/eprint/17022/1/The%20basic%20aspect%20of%20partnership%20accounting.pdf Yaacob, Zuraini and Jurina Ismail, Jurina and Jusoff, Kamaruzaman and Said, Roshima and Awang, Norasmila (2009) The basic aspect of partnership accounting. Interdisciplinary Journal of Contemporary Research in Business, 1 (6). pp. 102-119. ISSN 2073-7122 http://www.ijcrb.com/archives.htm |
| spellingShingle | Yaacob, Zuraini Jurina Ismail, Jurina Jusoff, Kamaruzaman Said, Roshima Awang, Norasmila The basic aspect of partnership accounting |
| title | The basic aspect of partnership accounting |
| title_full | The basic aspect of partnership accounting |
| title_fullStr | The basic aspect of partnership accounting |
| title_full_unstemmed | The basic aspect of partnership accounting |
| title_short | The basic aspect of partnership accounting |
| title_sort | basic aspect of partnership accounting |
| url | http://psasir.upm.edu.my/id/eprint/17022/ http://psasir.upm.edu.my/id/eprint/17022/ http://psasir.upm.edu.my/id/eprint/17022/1/The%20basic%20aspect%20of%20partnership%20accounting.pdf |