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Why is it necessary to revalue assets and reassess liabilities at the time of admission of new partner?

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تم إضافة السؤال من قبل Divyesh Patel , Assistant Professional Officer- Treasury , City Of Cape Town
تاريخ النشر: 2014/11/06
Divyesh Patel
من قبل Divyesh Patel , Assistant Professional Officer- Treasury , City Of Cape Town

It is necessary to revalue assets and reassess liabilities at the time of admission of new partners as if assets and liabilities are overstated or understated in the books then its benefits or loss should not affect the near partner.

 

مستخدم محذوف‎
من قبل مستخدم محذوف‎

To identify all the rights and obligations of the old company and determine the value to be paid from the new partner to form a new company

mohammed abdel azim
من قبل mohammed abdel azim , Tech. Clerk , CLEANCO

To show the fair market value of assets which have considerably appreciated since their purchase such as land and buildings.

MALIIK SOHAIL ABBAS
من قبل MALIIK SOHAIL ABBAS , ACCOUNTS MANAGER , AL RAWDAH GREEN SWEET WATER

 fitsrt  thanks It is necessary to revalue assets and reassess liabilities at the time of admission of new partners as if assets and liabilities are overstated or understated he actually knows the the health of a busniess

Rashad Moursi
من قبل Rashad Moursi , Finance Director & Business Development, International Business Transformer Owners Repr. - Hotels , Investment and financial

 because change in the value of assets and liabilities as on the date of admission.

Tanveer Qureshi
من قبل Tanveer Qureshi , Director , Qureshi Associates

A proper and fair valuation of assets is required at the time of admission of new partner with a view that under estimates and over estimates should effects partnership.

Ahmed Abd Alwahab Awad Ibrahim
من قبل Ahmed Abd Alwahab Awad Ibrahim , Chief Accounting , ICCDP

ِAs per principle of transparency and as per principle of historical valueAssets already were recorded with historical value which will affect on company value and change on the future so it is necessary to revalue assets and liabilities

SREEDEVI SUNILKUMAR
من قبل SREEDEVI SUNILKUMAR , Business finance officer , Emirates Airline

Revaluation of assets and liabilities is necessary because with the passage of time the value of some assets might have increased or decreased,the same in case of liablilities.Hence acutal values of assets and liabilities may be different from the values stated in balance sheet. It is therefore desirable to revalue the assets and liabilities on admission of new partner so that the new partner is neither put to an advantage or disadvantage because of change in value of assets and liabilities of the firm.

mohamed Hakim CMA CPA Candidate
من قبل mohamed Hakim CMA CPA Candidate , Accounting Manager , Andersen saudi arabia

Accounting books has historical value and when time change it will change in value 

 

So it will be more real to revalue assets at time of admission 

padmakumar pathiyil
من قبل padmakumar pathiyil , Marketing Consultant , Management Consultancy

It is necessary to revalue assets and reassess liabilities at the time of admission of new partner know the exact worth of the assets and the exact value of the liability so that the partners will be clear about the health of the organisation. Moreover they also can arrive at the actual contribution required by the new partner based on the recent assessment. 

VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
من قبل VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

The necessity to revalue assets and reassess liabilities at the time of admission of new partner to again reinstate the justice to the existing partners and treat the new entrant at par with them for sharing in the ratio already agreed upon by giving due weight-age.

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