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🧑💻 BEST TEACHERS FOR CA FOUNDATION 🧑💻
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Anshul Aggarwal
Tejas Suchak
Chandan Poddar
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✍️ Partnership Deed Contents ✍️
While making a partnership deed, all the provisions and the legal points of the partnership deed are included. For a general partnership deed, the below mentioned information should be included.
➖ Name of the firm as determined by all partners.
➖ Name and details of all the partners of the firm.
➖ The date on which business commenced.
➖ Firm’s existence duration.
➖ Amount of capital contributed by each partner.
➖ Profit sharing ratio between the partners.
➖ Duties, obligations and power of each partner of the firm.
➖ The salary and commission if applicable that is payable to partners.
➖ The process of admission or retirement of a partner.
➖ The method used for calculating goodwill.
➖ The procedure that must be followed in cases of dispute arising between partners.
➖ Procedure for cases where a partner becomes insolvent.
➖ Procedure for settlement of accounts in the event of dissolution of a firm.
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✍️ Meaning of Partnership Deed ✍️
Partnership Deed is a partnership agreement between the partners of the firm which outlines the terms and conditions of the partnership between the partners. The purpose of a partnership deed is to provide clear understanding of the roles of each partner, which ensures smooth running of the operations of the firm.
✍️ Registration of Partnership Deed ✍️
All the rights and responsibilities of each member are recorded in a document known as a Partnership Deed. This deed can be oral or written; however, an oral agreement is of no use when the firm has to deal with tax.
A few essential characteristics of a partnership deed are :
➖ The name of the firm.
➖ Name and addresses of the partners.
➖ Nature of the business.
➖ The term or duration of the partnership.
➖ The amount of capital to be contributed by each partner.
➖ The drawings that can be made by each partner.
➖ The interest to be allowed on capital and charged on drawings.
➖ Rights of partners.
➖ Duties of partners.
➖ Remuneration to partners.
➖ The method used for calculating goodwill.
➖ Profit and loss sharing ratio.
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Sometimes I feel..
Agar maine direct 11th me admission liya hota to meri zindagi ke 10 saal bach gye hote 😌
4 773
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📣 Biggest Announcement for CA Aspirants 📣
Biggest Giveaway in History 🎁
Lucky students will win Exciting Rewards 🥳
🗓 31st Aug
🕕 6.00pm
Hurry Up !! Join the WhatsApp group for more updates ⬇️
https://chat.whatsapp.com/Jx66sh7H5Mc7XwiEKQjp8I
4 773
📍Meaning of Ratio Analysis📍
➖ Analysis of financial statement with the help of ratio can be termed as ratio analysis.
➖ Examination and interpretation of the relationship between numerical figures.
📍Objectives of Ratio Analysis📍
➖ Provides analysis of profitability, liquidity and the solvency of the business.
➖ Traces the area which seeks more attention.
➖ Helps in making estimates.
➖ Supports in comparing the performance with best industry standards.
📍Advantages of Ratio Analysis📍
➖ Assists in comparative studies.
➖ Simplifies complex figures.
➖ Supports financial analysis.
➖ Helpful in forecasting.
➖ Helps in judging the operating efficiency of a business.
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🔰 Methods of Expressing Accounting Ratios 🔰
1. Proportion Ratio: In this form, the relationship between the two items is directly expressed in proportion. For e.g. Current Ratio explains the relationship between Current Assets and Current Liabilities.
2. Times: In this form, the ratio is expressed in a number of times, a particular item in comparison to other items.
3. Percentage: In this form, the relationship between the two items is expressed in percentage. For e.g. Net Profit expresses the relationship between Net profit and Revenue from Operations.
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