Reconstitution of partnership firm: change in profit sharing ratio,class 12 Accountancy

📚 Class Topic: Reconstitution of Partnership Firm – Change in Profit Sharing Ratio

In this class, we will cover one of the most important concepts of Partnership Accounts in Accountancy. When the existing partners of a firm decide to change their profit sharing ratio, the partnership agreement is reconstituted. This leads to several important accounting adjustments which we will study in detail.

✅ What you will learn in this session:

Meaning of reconstitution of a partnership firm

Reasons for change in profit sharing ratio

Gaining Ratio & Sacrificing Ratio – Concept & Calculation

Treatment of Reserves and Accumulated Profits

Revaluation of Assets and Liabilities

Adjustment of Goodwill among partners

Practical examples & step-by-step solutions

✨ Perfect for: Class 12 Accountancy | CBSE | Commerce Students preparing for exams

📖 By the end of this lecture, you will have complete clarity on how to solve questions related to Change in Profit Sharing Ratio in Partnership Accounts.