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.