Financial accounting, Partnership accounting

The strongest piece of writing that I created this quarter was accounting for partnership. This is because, I understood the topic very well, and was able to view the theory we learnt in class in real life situations. I am usually very interested in business and since I would like to start a very large business, I believe the only way I can achieve that at the beginning is by forming a partnership. I was therefore very interested in the topic since it was about something I dream of doing in the future. Learning that in partnership, ownership rights are shared among the partners and separate drawing and capital accounts are separately maintained for each partner (Justicejee & Parry, 2001). This assured me that my investment would be safe since I could trace everything concerning my