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On successful completion of the module, students should be able to:
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Apply international accounting standards to the preparation of financial statements;
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Prepare financial statements for a partnership including the allocation of profits in accordance with the partnership profit sharing ratio;
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Account for partnership goodwill and the revaluation of partnership assets when a partner joins or leaves the partnership or there is a change in the profit sharing ratio;
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Account for the dissolution of a partnership; and
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Evaluate at a high level, the role of audit and assurance in the business environment, and the role of audit evidence, audit procedures and audit reports in the audit process.
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