1. Credit sales calculation, trade receivables, cash discount adjustment, inventory valuation, outstanding wages, personal expenses exclusion

2. Income statement preparation, depreciation straight line method, carriage inwards allocation, advertising prepayment, goods for personal use adjustment, financial accuracy

3. Accounting concepts, business entity concept, consistency concept, personal use adjustment, depreciation policy, financial reporting standards

4. Partnership agreement terms, interest on capital, interest on drawings, partner salary allocation, profit sharing, appropriation account preparation

5. Capital and current accounts balancing, drawings recording, goods taken for own use, partner equity management, year-end adjustments, financial statements

6. Profitability ratio analysis, gross profit percentage comparison, actual vs budgeted performance, profit for the year percentage, financial evaluation, profitability expectations