Statement of Changes in Partners Equity a. Explain what a statement of partners equity shows. b. How does a statement of changes in partners equity differ from a statement of changes in owners equity?
Chapter One Notes Management: Planning, organizing, leading, and controlling people to create efficiency in a work place. Managers: People that supervise employees to make sure the company’s resources are used to create profit efficiently. Resources: Anything you can think of about a company. Examples: People, knowledge, materials, equipment Planning: Identifying what your goals are and create a course of actions to meet those goals. Examples of questions need to be answered are… 1. What does the company do 2. Where do you want to be in the future 3. Who’s the company Planning Strategy: This is the course of actions a company does to accomplish the goals that have been set. Organizing: This is the structure of how the company is run.