Join The Fresh Accounting Classes for CBSE Class 11 & 12 In Hyderabad to Score What You Deserve

After completion of the matrix, students tend to choose their respective interested streams out of Arts, Commerce, and Science, which inaugurates the pathway to their perspective, anticipated careers which might be vague at that point of time but a vision is stated when students choose a stream in which they want to pursue their higher education further.

We at ‘Acc.Knowledge’ are providing you with the basics as well as an advanced level of Accounting classes for CBSE class 11 in Hyderabad. Here we not only aim to teach students constructively according to the projected syllabus and for examinations, but also focus on clarifying the general, basic yet significant concepts of accountancy that are helpful in much longer run.

Our well-experienced faculty is dedicated completely to the welfare of students who are aiming to score good enough to gain respect and knowledge alongside. The practically designed syllabus of Accountancy for class 11 & 12 students has a proper, well- structured scheme of chapters, so that the concepts are in sync with the student's feasibility.

At Acc.Knowledge, we adhere to the potentiality of our course work that assures its students to offer a good hold on the concepts which would be the basics and significant portions in professional degrees like accounting and financing, Chartered Accountant, CFA, CPA, etc.

As it is important to clear and understand the starting concepts of accountancy where you have just entered a new domain of a subject and have no previous knowledge about the subject at all. Thus we vision to provide students with a complete insight of the subject so that they can get into a productive commencement in the new subject line.

We here use the best, updated technological tools as well to make the class interactive and elaborative for the students. At Acc.Knowledge our faculty is delivering Accounting classes for CBSE class 12 in Hyderabad, which is a platform where you can discover, enhance and enrich your knowledge with the help of our teachers you can uplift and upgrade not just your score but your overall understanding and perspective of the accounts subject as a whole.

So, hurry up and get yourself enrolled with the upcoming, new batches to kick start your accountancy.

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What is Modes of Dissolution of the Firm?

Modes of Dissolution of the Firm

By mutual agreement: A firm may be dissolved when all the partners agree for its dissolution.

Compulsory dissolution: A firm may be compulsorily dissolved:

1. When all the partners or all the partners except one become insolvent.

2. When business of the firm becomes unlawful.

By notice: In case partnership is at will, the firm may be dissolved by any partner giving notice in writing to all the other partners of his intention to dissolve the firm.

On happening of an event: A firm may be dissolved in any of the following events, if the partnership deed so provides:

1. On expiry of the term for which the firm was constituted

2. On completion of the venture

3. On death of a partner

4. On adjudication of a partner as insolvent

Dissolution by Court: Court may pass order for the dissolution of the firm when:

1. A partner becomes a person of unsound mind;

2. A partner becomes permanently incapable of performing his duties as a partner;

3. A partner is found guilty of misconduct, which is likely to adversely affect the business of the firm;

4. Partnership agreement is breached persistently by a partner or partners;

5. Court finds dissolution of the firm justified;

6. When the business of the firm cannot be carried on except at a loss.

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Other Sources: Difference Between Dissolution of Firm and Dissolution ofPartnership?

Difference Between Dissolution of Firm and Dissolution of Partnership?

Dissolution of Firm

Dissolution of the firm means the closure of the firm and end of business relationship among all the partners. It can be either voluntary by the partners or compulsorily by order of court. Under this the business of the firm comes to an end and also the books of the firm are closed. The assets of the firm are realized and liabilities are settled. The balance amount, if any, is distributed among all the partners. The economic relationship between/among the partners come to an end. The dissolution of the firm also means dissolution of partnership.

Dissolution of Partnership

The dissolution of partnership means the change in the business relationship among the partners where the firm continues its business. It is always voluntary in nature and the books of accounts need not be closed. The assets of the firm are revalued and the liabilities are reassessed. The gain (profit) or loss due to it, is distributed among the partners in their old profit sharing ratio and the economic relationship among the partners are changed. The dissolution of partnership may or may not involve dissolution of the firm.

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