PARTNERSHIP

ACCOUNTING
INTRODUCTION

BY: JENNY BERNARDINO, CPA

DEFINITION
Philippine Civil Code
Art. 1767. By the contract of partnership two or
more persons bind themselves to contribute
money, property, or industry to a common fund,
with the intention of dividing the profits among
themselves.

Two or more persons may also form a partnership

for the exercise of a profession.
DIFFERENCE
 ARTICLES OF PARTNERSHIP

e 5. Capital contr
1. Name of th 3.Telephone m e , c it iz enship, ibution
4. Na irthday of the partners
partnership number of th
e ad d re s s , b
ice artners 6. Purpose of th
2. Principal off partnership o f t h e p e
a n d T IN partnership
address
KINDS OF PARTNERS
Effect on
INVESTMENT ACTIVITY LIABILITY
Articles
• Industrial • Active • General • New
• Capitalist • Dormant • Limited • Retired
• Industrial- • Nominal • Insolvent
Capitalist /Quasi • Deceased
• Partner by
Estoppel
• Secret
partner
• Partner in
Profit only
KINDS OF PARTNERSHIP
TRADING
ACTIVITY
SERVICE

GENERAL
PARTNERSHIP LIABILITY
LIMITED

PARTICULAR
OBJECT PROPERTY
UNIVERSAL
PROFITS
THANK YOU