Partnership –Introduction – Meaning-Features- Kinds- Partnership Deed, New Ratio, Old Ratio, Sacrificing Ratio. Basic Concepts – Fixed Capital, Fluctuating Capital and Distribution of Profits

Admission of a Partner, Retirement of a partner, Death of a Partner

Dissolution of Partnership - Insolvency of Partners - Rule in Garner vs. Murray - Piecemeal Distribution - Sale to a company.

Depreciation – Methods – SLM, WDM, Annuity method - Reserves and provisions.

Departmental Accounting – Allocation and Apportionment of Departmental expenses – Inter-departmental transfers at cost price and selling price - Preparation of Final Accounts