ULTIMATE BOOK OF ACCOUNTANCY 10+2 (PART-A-VOLUME-1)
ULTIMATE BOOK OF ACCOUNTANCY FOR CLASS 12(PART A) VOLUME -1 (YEAR- 2017)
Part – A: Accounting for Partnership firms & Companies.
1: Basics of Partnership
2: Goodwill: Meaning & Valuation
3: Reconstitution of Partnership (Change in profit sharing ratio among the partners)
4: Admission of a Partner
5: Retirement of a Partner
Chapter 1 : Basics of Partnership
Introduction:- When the business is established and managed by only one person it is known as sole proprietorship or single ownership. Total Capital is invested by the proprietor only and he is responsible for all profits and losses. The main disadvantage of single ownership is that his all personal properties are always at risk and may be used for the payments of the business liabilities. That’s why the need of partnership takes place.
Chapter 2 : Goodwill : Meaning and Valuation
Introduction:- The word goodwill is very easy to describe but very difficult to define. The good reputation earned by a business is the result of hard work and efficiency of management. When a business gets good name or reputation, its sales and profits go on increasing.
Chapter 3 : Reconstitution of Partnership
Partnership is the result of an agreement and any change in the agreement or relations of the partners will result in the reconstitution of the partnership firm. It means new agreement will take place. Now this new agreement defines the relationship is an agreement among the partners.
Ultimate Sample Question Paper
Part- B: Financial Statement Analysis
Tools for Analysis of Financial Statements
Comparative Financial Statements
Common Size Statements
Funds Flow Statement
Cash Flow Statement