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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.

✍️ 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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📍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.

🔰 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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