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What Are Special Allocations of Partnership Items and When Are

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What are special allocations of partnership items and when are they permitted?


Definitions:

New Share Issues

The process of offering additional shares of a company to the public or existing shareholders to raise capital.

AASB 101

An accounting standard that specifies the requirements for the presentation of financial statements, ensuring their comparability both with the entity's financial statements of previous periods and with those of other entities.

Annually

Occurring once every year or relating to a period of one year.

Financial Statements

Official records that detail the financial activities and condition of a business, government, or other entity.

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