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Admission of a Partner-Level 1

By CA Pradeep Kumar Categories: Basic
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About Course

Admission of a Partner

Admission means when a new partner joins the firm and work with remaining partners in the firm. There are some specific rules and treatment for some items when the new partner join in :-

  1. Admission of a Partner (RECONSTITUTION of a FIRM)
  2. What will be the effect of admission on old partners
  3. What will be the change in ratios and what is the concept of sacrificing ratio and new profit-sharing ratio
  4. What is the good will. Why the question arises on admission of a partner and how to compute for it. What will be the accounting treatment in admission.
  5. What is revaluation of assets and liabilities and why is it and how is it done?
  6. How the treatment of accumulated profits, reserves are taken in to accounting treatment.
  7. Adjustment of Capital.

This Lesson covers all basic concepts relating to fundamentals of Admission of a Partner in a Partnership firm.

 

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What Will You Learn?

  • This Lesson covers all basic concepts relating to fundamentals of Admission of a Partner in a Partnership firm
  • Basic understanding of the topic.
  • Concepts
  • Short Questions and Answers to help test learning.
  • Downloadable Notes

Course Content

Basics Concepts of Admission of a Partner
Admission means when a new partner joins the firm and work with remaining partners in the firm. There are some specific rules and treatment for some items when the new partner join in :- 1. Admission of a Partner (RECONSTITUTION of a FIRM) 2. What will be the effect of admission on old partners 3. What will be the change in ratios and what is the concept of sacrificing ratio and new profit-sharing ratio 4. What is the good will. Why the question arises on admission of a partner and how to compute for it. What will be the accounting treatment in admission. 5. What is revaluation of assets and liabilities and why is it and how is it done? 6. How the treatment of accumulated profits, reserves are taken in to accounting treatment. 7. Adjustment of Capital.

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1C
1 year ago
This covers the basis of this course

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This Sliding Bar can be switched on or off in theme options, and can take any widget you throw at it or even fill it with your custom HTML Code. Its perfect for grabbing the attention of your viewers. Choose between 1, 2, 3 or 4 columns, set the background color, widget divider color, activate transparency, a top border or fully disable it on desktop and mobile.
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