All about Partnership Firm

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About Course

Hi

This is comprehensive course on Partnership firm wherein we will walk through various aspects related to Partnership Firm. The course consists of Pre recorded white boarding video tutorials. Video tutorials consists of explanation of concepts and solving of examples.

The Curriculum of the course divided into 4 Modules. The details of the same are as follows :

Module 1 :Basics of Partnership Firm

It explains following concepts

  • Meaning of Partnership as per Indian Partnership act, Meaning of Limited Liability Partnership.
  • Meaning of Partnership deed and General rules in absence of partnership deed.
  • Meaning of Profit and loss appropriation account
  • Meaning of Fixed Capital and fluctuating capital along with examples.
  • How to calculate interest on Capital , interest on drawings.
  • Ways to share profit and loss account in partnership Firm.

Module 2 : Goodwill

It explains following concepts

  • Meaning of Goodwill
  • Valuation of Goodwill and different ways in which goodwill can be valued. This includes valuation of goodwill by Simple average and weighted average method, Super Profit method (Years of purchase method), Super profit annuity method, Capitalization method along with examples.
  • Concept of Hidden Goodwill in partnership along with example.
  • Treatment of goodwill and accounting entries in case of admission of a partner, Retirement of a partner and death of a partner.

Module 3 : Admission of Partner

It explains following concepts

  • Procedure for admission of a partner
  • Example on accounting in case of admission by preparing revaluation account
  • Example on accounting in case of admission by preparing memorandum revaluation account

Module 4 : Retirement of Partner

It explains following concepts

  • Procedure for Retirement of a partner
  • Treatment of Insurance policy (Joint Life Policy and Individual policies ) in case of retirement of a partner
  • Example on accounting in case of retirement of a partner by preparing revaluation account
  • Example on accounting in case of retirement of a partner by preparing memorandum revaluation account

Module 5 : Death of Partner

It explains following concepts

  • Procedure for Death of a partner
  • Treatment of Insurance policy (Joint Life Policy and Individual policies ) in case of death of a partner
  • Example on accounting in case of death of a partner by preparing revaluation account
  • Example on accounting in case of death of a partner by preparing memorandum revaluation account

Happy Learning

Vanijyavidya

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Course Content

Basics of Partnership Firm

  • Definition of Partnership and Limited Liability Partnership
    11:46
  • Partnership Deed, General Rules of Partnership
    10:19
  • Final Accounts of Partnership Firm
    07:40
  • Fixed capital and Fluctuating Capital
    04:58
  • Interest on Capital and Interest on Drawings
    12:38
  • Sharing of Profits and Losses of Partnership Firm
    22:45
  • Section 37 of The Partnership Act
    09:14

Goodwill

Admission of Partner

Retirement of Partner

Death of Partner