1. Income statement preparation, closing inventory valuation, provision for irrecoverable debts, accruals, prepayments, motor vehicle depreciation 2. Statement of financial position, non-current assets, current assets, trade receivables, trade payables, equity calculation, liabilities classification 3. Prudence concept, provision for doubtful debts, conservative accounting, loss anticipation, asset valuation, revenue recognition 4. Accruals concept, expense matching, financial period adjustment, income recognition, outstanding liabilities, accounting period accuracy 5. Partnership appropriation account, interest on capital, interest on drawings, partner salaries, bank loan interest, depreciation straight-line method 6. Liquidity ratios, current ratio formula, acid test ratio formula, working capital management, liquidity evaluation, short-term financial health