Go to the Buckeye Partners, L$.$P$.,$ website where forms filed with the SEC are

available through the Investor Center. Find Buckeye's recent annual financial

statements in their $10-K$ report for the partnership. Review Buckeye's financial

statements as well as the accompanying notes. List and briefly discuss information

included for this partnership that would typically not appear in financial

statements produced for a corporation.

This case deals with the accounting for partnerships. Partnerships is one of the

most common business organizations that CPAs encounter in their career. As

such, it is imperative to know the intricate details of this entity type to become a

successful accountant. Pay particular attention to the difference in financial

reporting between partnerships and corporations.