CBSE · Class 12 · Accountancy
Partnership Fundamentals and Goodwill
Chapter 1.1Accounting for Partnership FirmsCBSE / NCERT · Secondary & Senior Secondary
Topics
Partnership basics
- Features and partnership deed
- Provisions applying without a deed
- Fixed and fluctuating capital accounts
Profit distribution
- Profit and loss appropriation account
- Guarantee of profits
- Past adjustments
Goodwill
- Nature and factors affecting goodwill
- Average profit, super profit and capitalisation methods
Learning objectives
- Prepare a profit and loss appropriation account and value goodwill by a stated method.
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