A partnership has a different organisation that a sole proprietorship or a company. So accounting for a partnership firm has some of its own peculiarities, like the Capital Account or the Profit and Loss Appropriation Account. Let us learn some basic concepts of partnership accounts.

• Nature of Partnership and Partnership Deed
• Distribution of Profit Among Partners
• Guarantee of Profit to a Partner, Past Adjustments and Final Accounts
• Special Aspects of Partnership Accounts and its Maintenance