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IGCSE · Accountancy · Chapter 15
Ch 15 Partnerships: complete notes
Neat, exam-ready notebook-style notes for Ch 15 Partnerships, following the Cambridge IGCSE 0452 syllabus. This chapter is part of the complete IGCSE Accounting 0452 Complete Notes: All 22 Chapters with Full Layouts and Mark Schemes (Cambridge 2027–2029).
Free preview: Ch 15 Partnerships notes
A quick look at the chapter from our IGCSE Accountancy notes. The full chapter notes have the detailed explanations, diagrams and practice questions with answers.
Topics in this chapter
- 15.1 What is a partnership?
- 15.2 The partnership agreement
- 15.3 The appropriation account
- 15.4 Capital accounts and current accounts
“I can” checklist: what you must be able to do
- give advantages and disadvantages of a partnership
- list the contents of a partnership agreement
- state the rules when there is no agreement
- explain the purpose of an appropriation account
- calculate interest on drawings by time
- prepare an appropriation account, profit or loss
- treat interest on a partner's loan correctly
- prepare columnar current and capital accounts
- show capital and current accounts in the statement
- advise partners about a proposed change
What is inside the full chapter notes
- Concept notes, model layouts (statement of profit or loss, appropriation account, current and capital accounts, statement of financial position), 8 worked examples
- Exam skills for Paper 2; common mistakes from the examiner report
- 20 Paper 1 style multiple-choice questions, explained
- Two Paper 2 style questions (20 marks each) with full mark schemes and answer layouts
- Quick-reference table, "I can" checklist
What you get in the pack
- All 22 chapters of the Cambridge IGCSE Accounting 0452 syllabus (exams 2027–2029): the accounting equation, double entry, business documents, books of prime entry, the trial balance, correction of errors, bank reconciliation, control accounts, depreciation, accruals and prepayments, irrecoverable debts, inventory, financial statements of sole traders, partnerships, limited companies, manufacturers and clubs, incomplete records, ratios and accounting concepts
- Every syllabus statement covered in order, with clear notes and complete accounting layouts drawn for these notes
- Worked examples with full layouts, exam skills and key definitions in every chapter
- Common mistakes taken from Cambridge examiner reports, so you know where marks are lost
- 20 Paper 1 style MCQs per chapter with answers and explanations
- Original exam-style questions in the style of Paper 1 (multiple choice) and Paper 2 (structured written paper), with full mark schemes (no past-paper reprints)
- Quick-reference sheet and an "I can" checklist at the end of every chapter
- Colour PDF and a black and white copy of every chapter for printing
- Independent notes; not endorsed by or affiliated with Cambridge University Press & Assessment
All chapters in this pack
- Ch 1 The Purpose of Accounting and the Accounting Equation
- Ch 2 The Double Entry System of Book-keeping
- Ch 3 Business Documents
- Ch 4 Books of Prime Entry
- Ch 5 The Trial Balance
- Ch 6 Correction of Errors
- Ch 7 Bank Reconciliation
- Ch 8 Control Accounts
- Ch 9 Capital and Revenue Expenditure and Receipts
- Ch 10 Depreciation and Disposal of Non-current Assets
- Ch 11 Other Payables and Other Receivables
- Ch 12 Irrecoverable Debts and Allowance for Irrecoverable Debts
- Ch 13 Valuation of Inventory
- Ch 14 Financial Statements of Sole Traders
- Ch 15 Partnerships
- Ch 16 Limited Companies
- Ch 17 Manufacturing Accounts
- Ch 18 Clubs and Societies
- Ch 19 Incomplete Records
- Ch 20 Accounting Ratios: Calculation and Interpretation
- Ch 21 Inter-business Comparison, Interested Parties and Limitations
- Ch 22 Accounting Concepts, Ethics, Technology and Sustainability