1:20 starting 25:24 accounting for foreign currency transactions 52:03 eg 1 1:01:19 foreign operations 1:06:55 net investment in a foreign operation 1:18:41 intra group transactions 1:30:10 change in functional currency 1:36:03 disposal of foreign operations
For my Referance- LDR IND AS 21- Applies only to transactions that occur in Foreign Currency!, Foreign Currency is any currency other than Functional Currency 7:14- IND AS 21 VS AS 11 8:03-Presentation Currency 9:01-Functional Currency 15:45-Determining Functional Currency 25:25-Accounting for Foreign Currency transactions 47:03-Definition of Monetry and Non Monetry 29:37- Example for monetary and Non monetary items(PPE) 39:33-Exch Diff(gain/loss) on re-measurement of MONETRY ITEMS-hits P&L 54:33-Exch diff (gain/loss) on re-measurement of MONETRY ITEMS-hits P&L-Exceptions to this 44:12-Inventory Example 50:26-Subsequent measurement 51:44-We remeasure only Monetry items at end of reporting Period and not non monetary items(Except those that require Fair value remeasurement) 52:01-Impairment Point 57:01- Fair value remeasurement happens and the gain on such reveal hits OCI, then exch diff of such an item also hits OCI (PPE), If gain/loss on fair val remeasurement hits P&L, then exch diff on such item also hits P&L 1:01:04- Net investment in FO 1:03:50- Test whether FO is integral part or not. (If integral then the Functional currency of parent/Holding is the functional currency of FO aswell) 1:10:05- Trade Rec/Trade payables can never form part of Net inv in FO 1:10:49-payable on demand Transaction with FO (is Intragroup always) -1:12:10 if such a transaction is not of nature of Net Inv in FO?- Exch diff>>>>> hits P&L If such a transaction is of the nature of Net Inv in FO?- 1) In Books of FO- Exch diff hits P&L 2) In Books of Parent a) Separate Fin Statements-Ech diff hits P&L b) Consolidated Fin Statement- Exch diff hits OCI, i.e OCI(Reclassifiable to PL on disposal) 1:18:44-Intragroup transactions knock off but the exch diff of such transactions don't knock off 1:19:25- Example for Net inv in FO 1:23:33- Rules for conversion of FO figures into Functional currency (ball fig hits OCI) 1:27:31-Rules for conversion of Functional currency into Presentation Currency (ball fig hits OCI) 1:30:10- Change in Functional Currency 1:33:44-Diff in Reporting dates of FO and parent 1:35:10- Disposal of FO (Full), gain on disposal hits PL 1:44:22-gain where partial disposals are also considered as full disposals 1:47:35- Partial Disposal of FO TYK Revision-ruclips.net/user/livesYxeTBKofIc?si=WVm7zuuPkOXbWTMj
Hi Pratik, I am a CA. Came here for revision on Ind AS. I must say you have a way with teaching and explaining the double entry impact is cherry on top. Its interesting to watch your videos because it revises every concept we have learned since childhood. Keep it up! All the best for future :)
Pratik sir- Explaining every damn thing in detail even in revisionary videos..🥰 Also pratik sir- "Revisionary video me aur kitna umeed rhk skte ho aap itna umeed na kijiye to hi acha hai"!! 😎
Example 2 44:15 Net inv in foreign operation 1:06:56 Intra group Transactions 1:18:21 (not a case of Net inv in Forex) Example 3 related to abv 1:19:27 FCTR goes to OCI logic 1:25:49 Change in functional ccy (imp) 1:30:12
Thank you sir aaj apka ye video dekha toh pta chla ki jis teacher se pehle classes li thi (Praveen Jindal) unhone bahot sare concepts padhaye hi nhi the
Sir you are so humble. Thank you so much for explaining in such clarity even in a revisionary video. Whenever I get stuck, I find you on youtube. Mag god give you great health and happiness.
Har ek ques jismai doubt aata h... aapne uski video daal rakhi h ... cant thank u enough 😭😭 Thank you sir You are Awesome ! You ll soon be on TOP . 💓💓💓💓💓
King is back🔥 Sir samaj nahi aata exams hummare hote hai or hummse jyada mehnat aap karte ho sir maine kabhi bhi kisiko etna effortlessly help karte huye nahi dekha hai jitna aap karte ho... And Sir aapki vajah se bahot students CA bane hai or aabhi aage bhi bahot banenge kyu ki hummare pass aap ho Toh Sir please jaise aap humm sabka khayal rakte ho waise khud ka bhi rakha karo or hummesha healthy wealthy khush raho 😊 And thank you word bahot chota hai appreciate karne ke liye still thank you sooo much sir😊
Nagar me dhindhora pitwa do Final walon se bolna PRATIK sir ne bulwaya hai... Institute/faculty jo book mile leke aa jao... FR me exemption dilane k liye PRATIK sir laut aaye hai ....
In your example for full disposal of F.O, there is a mistake.....You have derecognised Rs 8000 pertaining to NCI while calculating gain on disposal, Only 125000 should be derecognised.....See Institute S.M TQK question 1
Sir, How are you very happy to see you back ,Just take a moment and appreciate and kudos to the effort of this great human , wish u a healthy wealthy life 😊
IND AS 21 does not uses the word Integral and non integral foreign operations like AS 11. But based on functional currncey of reporting entity in India, can the foreign operations be still held to be integral and the resultant forex gain and loss arising out of transaltion of foreign operations be routed through profit and loss account without creating Forex Translation Reserve?
Sir increase ads in the videos, Earn from RUclips, coz it's more then worth it, after spending thousands could not get the level of clarity we get watching your video.
1:20 starting
25:24 accounting for foreign currency transactions
52:03 eg 1
1:01:19 foreign operations
1:06:55 net investment in a foreign operation
1:18:41 intra group transactions
1:30:10 change in functional currency
1:36:03 disposal of foreign operations
1:17:10 summary of Net Investment
(Net Investment = Debt given to Subsidiary, Return of which is not foreseeable.)
For my Referance- LDR
IND AS 21- Applies only to transactions that occur in Foreign Currency!, Foreign Currency is any currency other than Functional Currency
7:14- IND AS 21 VS AS 11
8:03-Presentation Currency
9:01-Functional Currency
15:45-Determining Functional Currency
25:25-Accounting for Foreign Currency transactions
47:03-Definition of Monetry and Non Monetry
29:37- Example for monetary and Non monetary items(PPE)
39:33-Exch Diff(gain/loss) on re-measurement of MONETRY ITEMS-hits P&L
54:33-Exch diff (gain/loss) on re-measurement of MONETRY ITEMS-hits P&L-Exceptions to this
44:12-Inventory Example
50:26-Subsequent measurement
51:44-We remeasure only Monetry items at end of reporting Period and not non monetary items(Except those that require Fair value remeasurement)
52:01-Impairment Point
57:01- Fair value remeasurement happens and the gain on such reveal hits OCI, then exch diff of such an item also hits OCI (PPE), If gain/loss on fair val remeasurement hits P&L, then exch diff on such item also hits P&L
1:01:04- Net investment in FO
1:03:50- Test whether FO is integral part or not. (If integral then the Functional currency of parent/Holding is the functional currency of FO aswell)
1:10:05- Trade Rec/Trade payables can never form part of Net inv in FO
1:10:49-payable on demand
Transaction with FO (is Intragroup always) -1:12:10
if such a transaction is not of nature of Net Inv in FO?- Exch diff>>>>> hits P&L
If such a transaction is of the nature of Net Inv in FO?-
1) In Books of FO- Exch diff hits P&L
2) In Books of Parent
a) Separate Fin Statements-Ech diff hits P&L
b) Consolidated Fin Statement- Exch diff hits OCI, i.e OCI(Reclassifiable to PL on disposal)
1:18:44-Intragroup transactions knock off but the exch diff of such transactions don't knock off
1:19:25- Example for Net inv in FO
1:23:33- Rules for conversion of FO figures into Functional currency (ball fig hits OCI)
1:27:31-Rules for conversion of Functional currency into Presentation Currency (ball fig hits OCI)
1:30:10- Change in Functional Currency
1:33:44-Diff in Reporting dates of FO and parent
1:35:10- Disposal of FO (Full), gain on disposal hits PL
1:44:22-gain where partial disposals are also considered as full disposals
1:47:35- Partial Disposal of FO
TYK Revision-ruclips.net/user/livesYxeTBKofIc?si=WVm7zuuPkOXbWTMj
Hi Pratik,
I am a CA. Came here for revision on Ind AS. I must say you have a way with teaching and explaining the double entry impact is cherry on top. Its interesting to watch your videos because it revises every concept we have learned since childhood. Keep it up! All the best for future :)
Pratik sir- Explaining every damn thing in detail even in revisionary videos..🥰
Also pratik sir- "Revisionary video me aur kitna umeed rhk skte ho aap itna umeed na kijiye to hi acha hai"!! 😎
Damn accurate 😂😂😂👌
29:47 monetary and non monetary
1:36:00 Disposals
Thank You Sir for your Hardwork towards students ❤️🙏
😮😊
Sir I had passed grp 1 but still watching your notifications and happy to see you back
Sher hai tu sher h
Example 2 44:15
Net inv in foreign operation 1:06:56
Intra group Transactions 1:18:21 (not a case of Net inv in Forex)
Example 3 related to abv 1:19:27
FCTR goes to OCI logic 1:25:49
Change in functional ccy (imp) 1:30:12
Sir happy to see you. can't express how happy..you are such saviour for CA students
Concept Bahut Achchhe se samajh me aa jate h , Thank you Sir
Disposal of forign operation
01:36:00
22:39 indicators revision
1:14:49 intra grp tns in CFS
1:52:29 disposal
Thank you sir aaj apka ye video dekha toh pta chla ki jis teacher se pehle classes li thi (Praveen Jindal) unhone bahot sare concepts padhaye hi nhi the
you are such a great person to provide in depth clarity and that too for freee....Love you sir
Dear beloved sir so happy to see you back.
Plz make one revision video on Ind as 20 "Government Grants". Thank you
1:01:11 Net investment in foreign operation
Sir you are so humble. Thank you so much for explaining in such clarity even in a revisionary video. Whenever I get stuck, I find you on youtube.
Mag god give you great health and happiness.
Sir I had passed grp 1 but still watching your notifications and happy to see you back
1:10:00 net investment in foreign operations
Sir the way you say
Uska v Revision video hai youtube par..🔥❤️😅
You're a real Gem 💎
Isse best Ind As 21 nahi ho sakta itne short time main
Thank you sir for better understanding
I wish aap ki health phele jesi ho jaaye
Thanks a lot 😊
Har ek ques jismai doubt aata h... aapne uski video daal rakhi h ... cant thank u enough 😭😭
Thank you sir
You are Awesome !
You ll soon be on TOP .
💓💓💓💓💓
Best video on foreign exchange❤❤❤ love from nepal
How to find out which is the entity's functional currency: 24:04
start with primary then secondary
Good to see you back sir !!! Hope you are doing fine now ❤️
Sir I am CA now but i still watch your Revision Videos Frequently
King is back🔥
Sir samaj nahi aata exams hummare hote hai or hummse jyada mehnat aap karte ho sir maine kabhi bhi kisiko etna effortlessly help karte huye nahi dekha hai jitna aap karte ho...
And Sir aapki vajah se bahot students CA bane hai or aabhi aage bhi bahot banenge kyu ki hummare pass aap ho
Toh Sir please jaise aap humm sabka khayal rakte ho waise khud ka bhi rakha karo or hummesha healthy wealthy khush raho 😊
And thank you word bahot chota hai appreciate karne ke liye still thank you sooo much sir😊
Bilkul sahi
Pratik sir is a great 👍
01:01:00 Foreign Operations
Thank You Sir for explaining concepts in detail even in less time.
Savior is back😊
Happy to see you back sir.
Hope you are better now.
Thank you sir for explaining this chapter so meaningful😊
I have been waiting for ur videos like a farmar waits for the rainy day for his crop....... Finally u r here
Thanks a lot sir for this video. I was never able to understand this ind as concept. Ur revison video cleared my concept...
Mind-blowing 🔥
Thank you sir 🙏
Wow !! my favorite teacher is backk.. Welcome sir. sending all good vibes to you...
If I had power...i give million billions like.. ..superman come back....nice to see you back sir
Thank you sir for coming back 👍 .... Plz continue to take care of your health also 🙏
Nagar me dhindhora pitwa do
Final walon se bolna PRATIK sir ne bulwaya hai...
Institute/faculty jo book mile leke aa jao...
FR me exemption dilane k liye PRATIK sir laut aaye hai ....
Words can't describe how much I am thankful to you.
Operation in FO 1:07:00
47:32 par sir Goodwill non monetary asset h lekin ise closing rate year end par functional currency main translate kiyon karte h?
Sir aap nahi hote to FR ka volume dekhke maine abhi tak CA skip kiya hota.. thanks sir
In your example for full disposal of F.O, there is a mistake.....You have derecognised Rs 8000 pertaining to NCI while calculating gain on disposal, Only 125000 should be derecognised.....See Institute S.M TQK question 1
Our saviour is back Good to see u back sir ❤️🙏
One stop for all solutions...............
Thanku sir 😊😊😊 a nice and easy made understanding of ind as
Abhi main Yahi Ind As revision karne jaa rha tha or apka Notification aa gya..
How cool ❤️
Sir, How are you very happy to see you back ,Just take a moment and appreciate and kudos to the effort of this great human , wish u a healthy wealthy life 😊
Thank you for all your efforts sir💯🙌❤️
Was eagerly waiting for your revision videos Sir. Hope you are doing well sir. Can you please do SFM Portfolio management also.
Net investment in FO 1:06:50
finallyyyyy legend is back..........
He is back but he is still not well...hole in his heart😓😓
@@PinalLakhatariya. OMG... very sad news..
@@PinalLakhatariya. how do you know that?
Thank you sir. You are a life saver
Nice to see you back sir😃 .. Hope now your health is recovered
Thank you for revision sir 💯❤️💯...and hope your health is in good condition now🍻
I took class from Praveen sharma sir,Pura paisa Barbad ho gaya😢 ,very very thanks for these revision videos.
Same
Why? He is equally good
Nice to see you back sir . Take care of your health😀
IND AS 21 does not uses the word Integral and non integral foreign operations like AS 11. But based on functional currncey of reporting entity in India, can the foreign operations be still held to be integral and the resultant forex gain and loss arising out of transaltion of foreign operations be routed through profit and loss account without creating Forex Translation Reserve?
My reference starting @15:00
Sir increase ads in the videos, Earn from RUclips, coz it's more then worth it, after spending thousands could not get the level of clarity we get watching your video.
Is the question answer video still there?
1:17:00 crux
So happy to see you back Sir.😇😇
Couldn’t found your app on ios
Thank you sir for such conceptual clarity.
Reallllllly amazing.... Thank you🙏
Starts at 1:20
sir as you said, i am not able to find the ind as 21 questions video in free content in your app, please share the link over here if its on youtube.
The God for CA Final students
Welcome back sir.. shivji bless u💫
Legend for CA final FR.. Good to see u back sir
Thank you King 👑 🙏🏻
How is your health sir?
Finally very happy to see you in you tube, I hope you are recovered
Great sir , very helpful 😊
Thank you so much sir ❣️
So good to see u back sir❤.how are u now?
I feel relax when I watch your video
Thankyou soo much PJ sir
Thank u so so much sir.
. And thx to come back sir
for my ref till : 1:37:45
Associate jv pura pl me ya partial pl me.
Subsidiary parital nci ya pura in pl
King is back ❤
Hope u r doing well sir
Woww U back sir. I hope you are fine now.😀
Sir question revision upload kr dijiye...
Sir aap bilkul thik ho jayegee
Good to see u back sir👏👍👍
Good to see you back sir 😊
Get well soon Sir ❤️
Thank you Sir for being back!
Happy to see you sir❤
Thankyou so much Sir 👍
In Decomposition Gain of 750k
Sir u did right at first when it came 700k
& modified wrongly
50k difference was due to depreciation charged earlier
Thank you Sir🙏
Sooo happy too see you back sir 🤩🤩🤩🤩
Revisions of IND as 33 pls ..
Welcome back sir😊🙏🙏♥️
Legend is backkkkk 👍👍👍
Thank u sir for coming back we are waited for u
Thank u so much sir 🙏🙏🙏
clear explanation.............