The document, presented by Mr. S.A. Musale, outlines the key topics in book-keeping and accountancy for class 12 commerce, focusing on partnership and partnership final accounts. It covers various aspects of partnership including reconstitution, dissolution, and company accounts, as well as the limitations and features of partnership firms. Additionally, it details the contents of partnership deeds as per the Indian Partnership Act of 1932.

1. Presented by
Mr.S.A.Musale
.
Subject – Book-keeping
& Accountancy
Mobile No.
9763388734
E-Mail-
sunilmusale143@gmail.com
Class-12 Commerce
Monday, May 4, 2020.
1
Chapter- 1
Introduction to Partnership and
Partnership Final Account
Presented by Mr.S.A.Musale. Mobile.No.9763388734. E-Mail- sunilmusale143@gmail.com

2. 1. Introduction to Partnership and Partnership Final Account
2. Accounts of ‘Not for Profit’ Concerns
3. Reconstitution of Partnership (Admission of Partner)
4. Reconstitution of Partnership (Retirement of Partner)
5. Reconstitution of Partnership (Death of Partner)
6. Dissolution of Partnership
7. Bill of Exchange
8. Company Accounts – Issue of Shares
9. Analysis of Financial Statements
10.Computer in Accounting
2Presented by Mr.S.A.Musale. Mobile.No.9763388734. E-Mail- sunilmusale143@gmail.com

3. New Syllabus
 1. Computer in
Accounting
 2. Company
Accounts – Issue of
Shares
Old Syllabus
 1. Single Entry
System
 2. Company
Accounts Part 1–
Issue of Shares
and Company
Accounts Part 2 –
Issue of Debenture
Monday, May 4, 2020
3

4. 1. Human Activities
4

5. 2. Business
5

6. 3.Types of Business Organizations
Sectors of Business Organizations
Public Sector
Departmental Organization
Statutory Corporations
Government Company
Private Sector
Sole Proprietorship
Partnership
Joint Hindu Family
Co-opretive Society
Joint Stock Company
Study in11
Commerce
Study in 12
Commerce
6

7. Limitations
1. Limited Capital
2. Limited Managerial Skills
3. Lack of Specialization
4. Not Suitable for Large Scale Operation
5. Unlimited Liability
6. Lack of Stability
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8.  Partnership form of organization evolved because
of Limitations on Capital raising capacity and
Managerial Inability of Proprietary Concern. The
need of adding more individuals in business arises
due to expansion of existing Proprietary Concern.
 Limited Capital
 Limited Managerial Skills
 Lack of Specialization
8

9. Meaning
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10. Monday, May 4, 2020
10
Presented by Mr.S.A.Musale. Mobile No.9763388734.

11. Features of
Partnership
Firm
1.Agreement
2.Number of
Partners
3.Lawful
Business
4. Sharing
Profits &
Losses
5.Unlimited
Liability
6.Registration
7.Joint
Ownership &
Management
8.Principal
& Agent
9.Dissolution
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12. Contents of Partnership Deed
 Name & Address Partnership Firm
 Nature & Duration of Business
 Name & Address of All Partner
 Capital Contribution & Profit Sharing Ratio of Partner
 Rights, Duties & Liabilities of Partner
 Provision related to Reconstitution Partnership Firm
 Rate of Interest on Capital, Loan & Drawings
 Salary & Commission to Partner
 Settlement of Accounts on Dissolution
 Methods of Settlement of Disputes of Partner
 other Matter Related to Business
Partnership Deed

13. Provision of the Indian Partnership act -1932
 Distribution of Profit and Losses
 Interest on Drawings
 Interest on Partners Loan
 Interest on Capital
 Salary & Commission to Partner
 Admission of Partner
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