Partnership Accounting (CPE Course)

CPE Credit: 1 hour

Course Type: Downloaded PDF materials with online test

Price (with PDF Textbook): $15

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Course DescriptionThis course shows the accountant how to set up and operate an accounting system for a partnership. It focuses on the accounting for all types of transactions that are unique to a partnership, including 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.

Author:Steven Bragg

Course number: AC1106

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.

  • Specify the proper accounting treatment when a partner retires.

  • Describe the process flow for a partnership liquidation.

Level: Overview

Instructional Method: QAS Self-Study

NASBA Category: Accounting

Prerequisites: None

Advance Preparation: None

Latest Review Date:June 2022

Program Registration Requirements: Click on "Purchase Course" near the top of this page to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.

Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

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AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org .

The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.