1. Income statement preparation, production cost, administrative expenses, carriage outwards, provision for irrecoverable debts, depreciation adjustment

2. Statement of financial position, non-current assets, current assets, inventories valuation, trade receivables, cash in hand, asset classification

3. Liquidity ratios analysis, current ratio, acid test ratio, financial stability evaluation, working capital management, short-term solvency

4. Partnership advantages and disadvantages, profit sharing ratio, interest on capital, interest on drawings, partner salaries, appropriation account

5. Current account balancing, drawings, debit balance reasons, partner financial obligations, capital contributions, profit distribution

6. Partnership accounting principles, interest on drawings purpose, interest on capital justification, equity fairness, capital investment incentives, financial discipline