LECTURE 1 PARTNERSHIP ACCOUNTS 1.1 LECTURE OUTLINE 1.1 The provision of the Partnership Act 1.1.1 Formation/ membership limits 1.1.2 Rights of partners 1.1.3 Obligations of partners 1.1.4 Dissolutions of partnerships Business/ Firm 1.1.5 Privileges of partners 1.2 Realignments 1.2.1 Treatment of goodwill in partnership Admission of new partners 1.2.2 Admission of new partners Retirement of partners 1.2.3 Retirement of partners 1.3 Dissolution of partnerships 1.3.1 Piece-meal Dissolutions
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PARTNERSHIP It is a CONTRACT whereby two or more persons (1) bind themselves to CONTRIBUTE money‚ property‚ or industry to a COMMON FUND (2) with the intention of dividing the PROFITS among themselves or in order to EXERCISE a PROFESSION a STATUS and a FIDUCIARY RELATION subsisting between persons carrying on a business in common with a view on profit CHARACTERISTICS OF THE CONTRACT OF PARTNERSHIP [C‚ C‚ L‚ I‚ AS‚ NP] 1. CONSENSUAL perfected by mere consent
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The current legislation‚ guidelines‚ policies and procedures for safeguarding children and young people includes the following. The Children Act 1989 (legislation) – this act focus on safeguarding children and the duties of local authorities. It identifies the responsibility of parents and anyone working with children to ensure the safety and welfare of the child is paramount. Local Authority has a ‘duty to investigate when there is a reasonable cause to suspect that a child is suffering or likely
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local education authorities and other educational institutions to make provisions for the safeguarding and promotion of welfare of children. UN Convention on the Rights of the Child (1989) - there are 54 articles in this Convention which cover every aspect of a child’s life. The convention sets out the civil‚ economic‚ social‚ political and cultural rights every child is entitled to. The convention also explains the role that governments and all adults must play to ensure children can enjoy these rights
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Q.2 . What is groupthink. Explain. [10] According to Irving Janis(1972) ‚ groupthink is "a deterioration of mental efficiency‚ reality testing‚ and moral judgment resulting from in-group pressures". Thus‚ the overemphasis on consensus and agreement leads members to be unwilling to evaluate group members’ ideas critically. This hinders decision-making and becomes an obstacle to group productivity. Certain conditions favour the development of groupthink. i) The first condition is high cohesiveness
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Safeguarding is not a new concept though definition remains contrived. There is no mutually agreed definition‚ this makes the subject emotive and difficult to encompass‚ rather perceives “safeguarding” as a umbrella term that encapsulates key themes including child protection‚ safe conduct‚ duty of care to act and collaborative working. This definition differs greatly from the Oxford Dictionary (2009 p324) definition “to protect (someone or something) from harm or destruction” This definition is
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of a Partnership Explain the effects of the entries to record the liquidation of a partnership. Liquidation of a business involves selling the assets of the firm‚ paying liabilities‚ and distributing any remaining assets. Liquidation may result from the sale of the business by mutual agreement of the partners‚ from the death of a partner‚ or from bankruptcy. Partnership liquidation ends both the legal and economic life of the entity. From an accounting standpoint‚ the partnership should
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Health and social care settings are now much more aware of what is seen as abuse and how to recognise when abuse has occurred. Due to this there has been safeguarding regulations put in place for vulnerable groups of people. Safeguarding is protecting people from any harm. Each care setting has procedures that should enable them to identify and risks to vulnerable people more clearly. Some people are more at risk than others an example of people who would be more at risk are vulnerable adults. An
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with parents and make sure that the sharing of information is a two-way‚ on going process. Aim for practitioners should be to achieve an open‚ supportive relationship with parents‚ who will be made to feel welcome‚ involved and fully informed about what happens in the childcare center. The preschool experience is often a young child’s first significant experience away from home. The first separation from home frequently places stress on the family until the transition is made. I have vivid memories
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Physical abuse – is when someone hurts or injuries another person on purpose Signs and symptoms Cuts Bruises Burns Grip marks Black eyes Unusual pattern or location of injury Sexual abuse - refers to any action that pressures or coerces someone to do something sexually they don’t want to do. Signs and symptoms Pain‚ itching or bruises around breasts or genital area Torn‚ stained or bloody underclothing Sexually transmitted diseases Vaginal/anal bleeding Pregnancy Emotional/psychological abuse-
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