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...

Information Included in Buckeye Partners, L.P.'s Financial Statements that Differs from Corporations
Student Name
19th Apr 2023
Introduction:
A publicly traded partnership called Buckeye Partners, L.P. works in the midstream energy industry and focuses on the distribution, storage, and transportation of petroleum products. The Securities and Exchange Commission (SEC) recently received Buckeye Partners, L.P.'s 10-K report, which contains its annual financial statements and related notes. The financial statements and notes of Buckeye, as a partnership, include information that is exclusive to partnerships and does not generally appear in financial statements prepared for corporations. This essay will go over the partnership-specific information found in Buckeye's financial statements and notes.
Information Included in Financial Statements and Notes for Partnerships and note in the statements of Corporations:
1. Partner's Capital Account
In contrast to a corporation, Buckeye Partners, L.P.'s partnership structure includes partners rather than shareholders. This means that information specific to partnerships is included in the financial statements and notes for Buckeye. A thorough breakdown of each partner's...