The accounting treatment in the event of the death of a partner is similar to that in the case of:

Retirement of a partner

The accounting treatment for the death of a partner is generally comparable to that of a partner's retirement. In both cases, the partner's claim is transferred to the respective party, whether it be the retiring partner or the deceased partner's executors. This transfer is settled using similar procedures. However, an important distinction arises in the timing of these events. While a partner's retirement typically occurs at the end of an accounting period, the death of a partner can happen at any time.