UNIT PLAN – CBSE SECTION
Name of the Teacher: Bhumika Shah
Subject: Accountancy
No of classes/periods required to complete the unit: 49
Date: 03/04/2021 Unit Title / Chapter Name: Accounting for Partnership Firms
CONTENT TO BE
COVERED UNDER THE
SAID UNIT / CHAPTER
(add more rows if
needed)
1. Partnership: features,
Partnership Deed. Provisions of
the Indian Partnership Act 1932
in the absence of Partnership
deed Fixed v/s fluctuating
capital accounts. Preparation
of Profit and Loss
Appropriation account-
division of profit among
partners, guarantee of profits.
Past adjustments (relating to
interest on capital, interest on
drawing, salary and profit-
sharing ratio). Goodwill:
nature, factors affecting and
methods of valuation - average
profit, super profit, and
capitalization.
2. Change in the Profit
Sharing Ratio among the
existing partners - sacrificing
ratio, gaining ratio, accounting
for revaluation of assets and
reassessment of liabilities and
treatment of reserves and
accumulated profits.
CRIMSON ANISHA GLOBAL SCHOOL
Grade: XII
GAUGING PRIOR
KNOWLEDGE (Details of
activity that will be
done to gauge students
previous understanding
about the specific
topic/concept)
Preparation of charts showing
Partners Capital Accounts with
Fixed Capital Methods and
Fluctuations Methods , Profit
and Loss Appropriation
Account.
LEARNING OBJECTIVES
FOR THIS UNIT
1. Student will develop
understanding on what is
partnership business and will
able to state the meaning of
partnership, partnership firm
and partnership deed. describe
different types of partners,
sanctify the characteristic
features of partnership and the
contents of partnership deed.
describe different types of
partners, sanctify the
characteristic features of
partnership and the contents
of partnership deed.
2. They will be able to
Differentiate between fixed
and fluctuating capital, outline
the process and develop the
understanding of preparation
of Profit and Loss
Appropriation Account.
Preparation of revaluation
account and balance sheet.

3. Admission of a partner - 3. Develop the understanding

effect of admission of a partner of making past adjustments.
on change in the profit-sharing State the meaning, nature and
ratio, treatment of goodwill (as factors affecting goodwill
per AS 26), treatment for develop the understanding of
revaluation of assets and valuation of goodwill using
reassessment of liabilities, different methods of valuation
treatment of reserves and of goodwill.
accumulated profits,
adjustment of capital accounts
and preparation of balance
sheet.

4. Retirement and death of a 4. Students will be able to

partner: effect of retirement / Describe the meaning of
death of a partner on change in sacrificing ratio, gaining ratio
profit sharing ratio, treatment and the change in profit
of goodwill (as per AS 26), sharing ratio among existing
treatment for revaluation of partners. develop the
assets and reassessment of understanding of accounting
liabilities, adjustment of treatment of assets and
accumulated profits and reassessment of liabilities and
reserves, adjustment of capital distribution of reserves and
accounts and preparation of accumulated profits. Explain
balance sheet. Preparation of the effect of change in profit
loan account of the retiring sharing ratio on admission of a
partner. Calculation of new partner. Develop the
deceased partner’s share of understanding of treatment of
profit till the date of death. goodwill as per IAS-38,
Preparation of deceased treatment of revaluation of
partner’s capital account, assets and re-assessment of
executor’s account and liabilities, treatment of
preparation of balance sheet. reserves and accumulated
profits, adjustment of capital
accounts and preparation of
balance sheet of the new firm
explain the effect of
retirement/deaths of a partner
on change in profit sharing
ratio.

5. Dissolution of a partnership 5. State the meaning of

firm: types of dissolution of a sacrificing ratio. Develop the
firm. Settlement of accounts - understanding of accounting

CRIMSON ANISHA GLOBAL SCHOOL

preparation of realization treatment of goodwill,
account, and other related revaluation of assets and re-
accounts: capital accounts of assessment of liabilities and
partners and cash/bank a/c adjustment of accumulated
(excluding piecemeal profits and reserves on
distribution, sale to a company retirement/deaths of a partner
and insolvency of partners. and adjustment.

MAPPING OF COMPETENCIES / ATTRIBUTES

(highlight the relevant ones in YELLOW)

Competencies (21st Century Skills) CBSE Attributes

Critical Thinking • Responsible

Communication • Confident

Collaboration • Engaged

Creativity • Innovative

• Reflective

RESOURCES TO BE USED VOCABULARY / KEYWORDS THAT WILL BE

(including web-based INTRODUCED TO STUDENTS DURING THIS
resources) UNIT
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1. Different e-learning platform e- 1.Partnership business
content- Text, Video Lectures, Sway.
2.Goodwill

3.Sacrifice and gain ratio

4.Reserves and accumulated Profits

CRIMSON ANISHA GLOBAL SCHOOL

TEACHING / LEARNING LEARNING ENGAGEMENTS/ACTIVITIES PLANNED
STRATEGIES THAT FOR ACTIVE LEARNING
WOULD BE USED FOR
THIS UNIT
1.Enhanced Lecture Case studies of real Partnership and their Accounting
information and date

2. Questioning and Discussion

3. Problem-Based Learning

CLASSROOM ASSIGNMENTS / ASSESSMENT PLANNED FOR THIS UNIT

HOMEWORK (homework tasks /
worksheets to be enclosed with
this plan)
1.Solving Exercises and illustration Type of Assessment (Formative / Peer / Self /
Summative):

Peer,Self
2.

3. Details of Assessment Planned (as stated above):

MCQ and Problem solving

4.

PRACTICALS (for Science and Computer Science subjects only)

1.

2.

3.

4.

CRIMSON ANISHA GLOBAL SCHOOL

Principal/Supervisor/Coordinator Feedback:

SELF-REFLECTION: What were the most effective elements of the unit? Why?
What were the least effective elements of the unit? Why?
If I were to repeat the unit what would I change? How could I improve?
(TO BE FILLED IN AFTER THE SAID UNIT HAS BEEN COMPLETED)

CRIMSON ANISHA GLOBAL SCHOOL