Final Accounts

[Menon Enterprises]

hey guys

i was just reading up on something about the differences between a Sole Traders Final Accounts and a Partnerships'.

so after i analysed these differences i just wanted to know why it is necessary to have these differences?...

 

[Kent Accountant]

Because there's more than one owner :|

But what differences exactly are you referring to?

 

[Menon Enterprises]

such as in parnerships the profit will be divided into the owner..and for a sole traders there is only owner so he will get all the profits...

differences like that...

but whats the reason to have these differences

 

[Kent Accountant]

Because that's how you show each individual partner's share of the business

 

[Menon Enterprises]

can u add some more to it?

 

[Kent Accountant]

Not really

 

[KM-Tiger]

such as in parnerships the profit will be divided into the owner..and for a sole traders there is only owner so he will get all the profits...

Hmmm........science, rocket, not?

 

[carey bookkeeping]

I wasn't brave enough to reply to this thread first!

 

[KM-Tiger]

I wasn't brave enough to reply to this thread first!

That's the difference between FCA's and us mere mortals!

 

[Joyous]

That's the difference between FCA's and us mere mortals!

Or even the difference between somebody looking for help with a homework assignment and us mere mortals.

Joy