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This video explains the meaning of goodwill, which is an intangible asset, i.e., the reputation that an organization earns over a number of years. It further explains the reason why it is calculated in partnership, the different methods of calculation of goodwill, and the various other methods within these. The video also describes the two Average Profit Methods in detail – the Simple Average Profit Method and the Weighted Average Profit Method. ABOUT OUR CHANNEL We here at TG Campus aim to make learning fun, engaging, and accessible for students preparing for their boards and competitive exams. Check out our channel here👇 / @tgcampusin Don’t forget to subscribe! 😊 CHECK OUT OTHER VIDEOS • Accounting for Partnership Basic Concepts ... • Past Adjustment | Adjustment in Closing Ac... • Interest on Drawings | Average Method Calc... FIND US AT https://www.tgcampus.com/ FOLLOW US ON SOCIAL ✅ Reach out to us on our social media profiles! 👇 ⏩Facebook: / tgcampusin ⏩Instagram: / tgcampusin ⏩Twitter: / tgcampusin ⏩LinkedIn: / tgcampusin #Accounts #AverageProfitMethod #valuationofgoodwill #Partnershipaccounting #accounting