CITY UNIVERSITY OF PASAY

(Pamantasan ng Lungsod ng Pasay)

College of Business Administration
Bachelor of Science in Business Administration
Partnership Accounting II
Accounting 3
Course Outline
Course Description:
Principles of Accounting II is a three (3) unit course, this course covers the study of partnership
accounting. While the business transaction is practically the same as in single proprietorship, yet the
emphasis is on the structure and formation of the equity of the partnership. Supplementary topic will
include the formation and dissolution of partnership and the accounting system involves in the preparation
of partnership financial statements.

Course Outline
I. Prelim
a. Accounting for Partnership – Basic Consideration and Formation
i. Definition of Partnership
ii. Characteristics of a Partnership
iii. Partnership Distinguished from Corporation
iv. Advantage and Disadvantage of a Partnership
v. Classifications of Partnerships
vi. Kinds of Partnership
vii. Articles of Partnership
viii. SEC Registration
ix. Accreditation to Practice Public Accountancy
x. Accounting for Partnership
xi. Partnership Formation
xii. Limited Liability Partnerships
II. Midterm
a. Partnership Operations
i. Partners’ Equity in Assets Contrasted with Share in Profit or Losses
ii. Factors to Consider in Arriving at a Plan for Dividing Profits or Losses
iii. Rules for the Distribution of Profits or Losses
iv. Distribution of Profits or Losses Based on Partners’ Agreement
v. Financial Statements Preparation
b. Dissolution – Changes in Ownership
i. Definition
ii. Causes of Dissolution
iii. Admission of a Partner
iv. Withdrawal or Retirement of a Partner
v. Death of a Partner
vi. Incorporation of a Partnership
III. Finals
a. Partnership Liquidation
i. Definition
ii. Rules in Setting Accounts After Dissolution
iii. Methods of Partnership Liquidation
iv. Entries Related to Liquidation
v. Lump-Sum Liquidation
vi. Installment Liquidation
vii. Cash Priority Program

Textbook:
Partnership and Corporation, latest edition, Win Lu Ballada & Susan Ballada
Reference:
Partnership and Corporation Accounting, latest edition, Gloria J. Toelntino-Baysa and Ma.
Conception Yamat Lupisan
Fundaments of Accounting Part II, lates Edition, Robinson Pe Chu and Ferdinand T. Gutierrez
ERICH C. ACABADO, CPA, REB
Mobile No. 0995 103 0482 (GLOBE) / 0932 397 4040 (SUN)
e-mail: erich.acabadoa@gmail.com