Time stamp :) 1:00 IND AS 1 50:30 IND AS 10 1:13:00 IND AS 37 2:03:00 IND AS 34 2:42:00 IND AS 113 3:46:00 Lunch break 4:36:00 IND AS 108 5:24:00 IND AS 20 6:08:00 IND AS 24 7:03:00 IND AS 8 7:55:00 IND AS 16 8:49:00 IND AS 38 9:18:00 IND AS 40 enjoy!!
ND AS 1-3:05 IND AS 10- 50:30 52:17- adjusting event example 54:18- Non adj event example 56:00- Deemed adj events 1:02:36- Dividends 1:04:27- Going Concern- Point missed- Event that casts doubt on ability of entity to continue as GC irrespective of whether it is adjusting or non adjusting, Reprepare Financials on Liquidation basis and State that GC is not appropriate in the disclosures!! 1:06:30- Points of Ques 1:06:56- Rocky surface 1:08:02- Duty Drawback IND AS 8- 7:02:24 7:07:42- How to select and apply ACC policy 7:09:53- How to make judgement to develop ACC policy 7:11:56- Change in ACC policy (Retrospective effect) 7:14:16- Not a change in ACC policy 7:19:17- Change in ACC estimates( Prospective effect) 7:21:54- Errors (retrospective effect) 7:24:16- Adj event(IND AS 10) Vs Restatement of PY figs Vs 3rd set of B/S 7:28:03- How to provide Retrospective effect for change in ACC policy 7:31:53- Additional Points of Ques Questions of IND AS 8&10- Revise From- Illustrations and TYK-Ques-ruclips.net/user/liveO62uvR2n6s8?si=fvXJpMwVRZEGiAI4 IND AS 8-ruclips.net/video/ShyuloTOKg4/видео.htmlsi=wjn7vlmrnXC5Y7jA IND AS 16-7:55:24 7:56:00- Definition & Recognition Criteria 7:58:54-Cost of PPE computation 8:00:00- Professional Fees Treatment 8:01:03- Dismantling/Decommisioning Treatment 8:01:33-Initial & Subsequent Measurement 8:01:43- Spare parts 8:02:06- Repairs & Maintenance exp 8:02:11- Replacement of parts 8:03:26- Self Constructed Asset 8:04:30- Bearer plant definition and applicable IND AS 8:06:36- Costs not to Capitalize 8:07:21-Ceasing of Capitalization & Commencement of Depreciation of Asset 8:08:23- Deffered payment, Asset Recognised at cashprice. 8:08:44- Exchange of Assets 8:12:00- Subsequent Measurement 8:17:15- 2 ways to treat OCI Surplus (On disposal- OCI>>>RE, (OR) proportionally OCI Reval surplus hits RE during life on SLM Basis) 8:17:42- Class wise Reval Model 8:18:46- Treating Accumilated Depreciation in case of revaluation of asset- Technique 1& 2 8:23:31- Points to remember-Depreciation 8:27:00- Accounting of Provision For Decommissioning (Including Accounting For Subsequent change in Provision For decommissioning) 8:26:36- Derecognition of PPE Revise Ques From- ruclips.net/user/liveutEQEY5yRpY?si=AQaMQS9POVhuOlBI IND AS 38 (8:49:01) 8:49:47- Definition of Int Asset 8:51:56-Indentifiable Asset Meaning 8:53:54-Recognition of Int Asset 8:55:30- Control of Asset 8:56:25- Internally Generated Int Asset(Research & Devlopment phase Exp- Treatment) 8:58:07- Advertisement & Staff training Expenses (Always P&L) 8:59:20-Goodwill 8:59:35-Internally Generated Int Asset (Non Goodwill) 8:59:45- Intangible Assets that are obtained as Govt Grants 9:00:43- Intangible Assets (Reasearch of Acquiree)- Acquired under IND AS 103-Show at Fair value 9:02:40- Useful Life of Int Asset 9:03:54- Impact of Renewal Period on Useful life 9:04:38- Amortization Methods 9:04:45- Revenue based Amortization 9:05:49- Residual Value of Int Asset 9:06:40- Intangible Assets That are contained in a tangible Substance IND AS 40 9:17:12- Scope of IND AS 40 9:18:20-Measurement 9:19:22- Cases where the asset is not considered as Investment Property 9:22:55- Use for more than One purpose 9:26:11- Ancilliary Services 9:28:00- Property Leased to other Member of the group entity 9:29:35- General Recognition Principle 9:30:09- Subsequent Measurement 9:32:05- Fair value of Property 9:35:35- Transffers 9:38:17- Disposal IND AS 113 2:43:22- NRV Vs Fair value 2:44:56- Whats Fair value 2:46:44-Points influencing the Fair value 2:52:31- Unit of account 2:53:00- Principal Market, Most advantageous Market 2:57:03- Fair Value VS Fairvalue-Cost to sell (Differences) 2:58:14- Determining Fair Value of Non fInancial Assets (Highest & Best Use, Valuation Premise) 3:02:03- Determining Fair value of Financial Asset (Valuation Premise, Liquidity Disc, NCI Discount) 3:05:23-Fair Value Hierarchy 3:13:01- Cases of Entry price as Fairvalue along with Exceptions to it 3:15:18- Valuation Techniques 3:18:27-Determining fair value of liability and Equity Instruments Revise TYK from-ruclips.net/user/liveowoPlsI1rOo?si=wmm95l0TaXC_kgFA IND AS 20 5:4:20- Applicability 5:24:30- Gvt Grant Vs Govt Assistance 5:27:03- Recognition of Govt grants 5:27:55-Equity interest of Gvt -POint 5:28:10- When to create Deffered Grant A/C and when to take Grant to P&L. 58:29:12- Foregivable Loans 5:31:55- Loans at less than Market rate 5:31:13- Non monetary Govt grants 5:33:57-Grants Related to assets (PPE Eg)- Inclusive of Reversal/Repayment of grant back to gvt concept 5:40:24-Grants Related to Income- Inclusive of Reversal/Repayment of grant back to gvt concept Revise TYK -ruclips.net/user/liveq3LRPyGGvzE?si=6A7uDTs-vBSW21Aa IND AS 37 1:13:31-Diff btwn Provision & Liab 1:18:14-Diff btwn Present and possible obligation 1:20:07- Provision must be created only if all the following Conditions are satisfied a) Present obligation from past event ( Obliagtion may be Constructive( Customery/past practices) or Legal Obligation) b) There is probable outflow of resources c) The amount of outflow can be reliably measured d) The entity does not have an option/alternative to avoid such an outflow. 1:21:46- If any one of the above condition fails- Its a contingent Liab 1:23:07- Virtual Certainity and Contingent Asset Point 1:25:16- Measurement of Provision (Expected method & Most likely method) 1:28:09- Discounting and present value point ( Always use pre-tax disc rate, Risk adjusted Disc rate where required). Provsion Created must be at present value and unwinding of disc must be done each year!!-Remember this 1:30:07- Future events 1:31:07- Review of provision at end of each reporting period 1:32:10- Never create Provison for future operating losses or the Future op. expenses (bcz its not a present obligation from a past event) 1:32:45-Onerous Contract Points missed in onerous Contract (Definitions) a) Executory Contracts- Contracts where neither of the parties have fulfilled their obligations/ Both parties have partially performed their obligations to equal extent. b) IND AS 37 is applicable only to those Executory Contracts that are Onerous in nature. c) Onerous Contracts- They are those contracts in which the unavoidable costs to execute the contract is higher than the economic benefits from the Contract. 1:35:08- Knockoff of Reimbursement asset and provision is not allowed 1:37:57- Restructuring point
For my ref Ind AS 37 1:13:30 diff between prov & liab 1:14:33 Prov made when amt & timing uncertain eg: pollution control license prov not to be created because alt is to not use the plant major overhauling prov not required because alt is not to use the ships 1:17:49 Crux is prov is created where there is no other alternative 1:18:15 Diff between present and possible obli Eg. Complaint of water polluted. Dept sends notice of investigation - Possible oblg Dept sends notice of penalty - present obligation 1:20:03 No provision in case of possible obli 1:21:30 Prov = present obl + probability(50%) + can be measured if any of the 3 conditions not satisfied then contingent liab 1:21:51 contingent liab = possible obl/present obl with no prob or unable to measure 1:22:56 contingent liab - disclosed in nta, prov adjusted in p/l 1:23:08 contingent asset - usually disclosed. recognized if virtually certain (>95%) 1:25:30 measurement of prov 1:25:30 two methods (exp value method, most likely method) 1:29:43 use pre-tax discount rate for pv 1:31:35 Prov reviewed every reporting period end 1:32:09 No prov for future operating losses (alt there not to operate in future) 1:39:50 Onerous contract (lower of amt required to settle contract & penalty) 1:38:04 Restructuring (legal or constructive) - major changes in business 1:42:14 unavoidable cost - prov 1:44:37 Sea bed prov for decom (Ind AS 16) 1:47:04 Q(to be checked)
12 Standards in Total 3:05 Ind AS 1 51:14 Ind AS 10 1:13:23 Ind AS 37 2:04:26 Ind AS 34 2:42:10 Ind AS 113 4:35:58 Ind AS 108 5:23:59 Ind AS 20 6:07:42 Ind AS 24 7:02:22 Ind AS 8 7:55:24 Ind AS 16 8:49:42 Ind AS 38 9:17:11 Ind AS 40
Time stamp 1:00 IND AS 1 50:30 IND AS 10 1:13:00 IND AS 37 2:03:00 IND AS 34 2:42:00 IND AS 113 3:46:00 Lunch break 4:36:00 IND AS 108 5:23:00 IND AS 20 6:08:00 IND AS 24 7:03:00 IND AS 8 7:55:00 IND AS 16 8:48:00 IND AS 38 9:18:00 IND AS 40
For my ref *Ind AS 1* 3:05 intro 4:19 Complete set of FS 5:43 P/L items 9:42 OCI items 12:04 BS items 12:59 Current and non current asset 4 conditions to be classified as current: 1. 12 months 2. Trading 3. Cash & CE 4. Normal op cycle 17:00 Deferred tax asset always non current 18:33 Current liability (3. loan which is repayable on demand. Rest same) 21:43 Breach of contract 26:10 Refinance and rollover Crux: if lender has given an option to refinance and entity expects then non current _if lender has not given any option then in such cases:_ If entity enters into agreement before 31st mar - Non current does not enter into agreement before 31st mar - Current 30:50 Addln points 38:14 Q (to be checked) 39:23 Q (to be checked) *Ind AS 10* condition - fire before end of reporting period - adjusting event condition - after the end of reporting period - non adjusting event (disclose in notes to accounts) 55:56 examples of adjusting event a. Court decision after reporting period b. Customer bankruptcy c. inventory recorded at cost (lower of cost/nrv). after the reporting period inventory sold for a price less than cost - adjusting event. Kahi na kahi nrv pehele se kamm thi d. assets pur/sold of which cost determined after reporting period - adj event e. Bonus payment f. Fraud or error discovered after reporting period (condition pehele se thi hume badme pata chala) 1:02:29 Dividends If equity - dividend declared is non adjusting event if prf shares classified as liab - dividend declared is adjusting event 1:04:29 Going concern 1:06:57 Rocky surface - adjusting event 1:08:03 DDB not applied within 15 days - non adj event 1:09:49 contingent assets recorded only if virtually certain
For My referance-LDR Skim through!! IND AS 1-3:05 IND AS 10- 50:30 52:17- adjusting event example 54:18- Non adj event example 56:00- Deemed adj events 1:02:36- Dividends 1:04:27- Going Concern- Point missed- Event that casts doubt on ability of entity to continue as GC irrespective of whether it is adjusting or non adjusting, Reprepare Financials on Liquidation basis and State that GC is not appropriate in the disclosures!! 1:06:30- Points of Ques 1:06:56- Rocky surface 1:08:02- Duty Drawback IND AS 8- 7:02:24 7:07:42- How to select and apply ACC policy 7:09:53- How to make judgement to develop ACC policy 7:11:56- Change in ACC policy (Retrospective effect) 7:14:16- Not a change in ACC policy 7:19:17- Change in ACC estimates( Prospective effect) 7:21:54- Errors (retrospective effect) 7:24:16- Adj event(IND AS 10) Vs Restatement of PY figs Vs 3rd set of B/S 7:28:03- How to provide Retrospective effect for change in ACC policy 7:31:53- Additional Points of Ques Questions of IND AS 8&10- Revise From- Illustrations and TYK-Ques-ruclips.net/user/liveO62uvR2n6s8?si=fvXJpMwVRZEGiAI4 IND AS 8-ruclips.net/video/ShyuloTOKg4/видео.htmlsi=wjn7vlmrnXC5Y7jA IND AS 16-7:55:24 7:56:00- Definition & Recognition Criteria 7:58:54-Cost of PPE computation 8:00:00- Professional Fees Treatment 8:01:03- Dismantling/Decommisioning Treatment 8:01:33-Initial & Subsequent Measurement 8:01:43- Spare parts 8:02:06- Repairs & Maintenance exp 8:02:11- Replacement of parts 8:03:26- Self Constructed Asset 8:04:30- Bearer plant definition and applicable IND AS 8:06:36- Costs not to Capitalize 8:07:21-Ceasing of Capitalization & Commencement of Depreciation of Asset 8:08:23- Deffered payment, Asset Recognised at cashprice. 8:08:44- Exchange of Assets 8:12:00- Subsequent Measurement 8:17:15- 2 ways to treat OCI Surplus (On disposal- OCI>>>RE, (OR) proportionally OCI Reval surplus hits RE during life on SLM Basis) 8:17:42- Class wise Reval Model 8:18:46- Treating Accumilated Depreciation in case of revaluation of asset- Technique 1& 2 8:23:31- Points to remember-Depreciation 8:27:00- Accounting of Provision For Decommissioning (Including Accounting For Subsequent change in Provision For decommissioning) 8:26:36- Derecognition of PPE Revise Ques From- ruclips.net/user/liveutEQEY5yRpY?si=AQaMQS9POVhuOlBI IND AS 38 (8:49:01) 8:49:47- Definition of Int Asset 8:51:56-Indentifiable Asset Meaning 8:53:54-Recognition of Int Asset 8:55:30- Control of Asset 8:56:25- Internally Generated Int Asset(Research & Devlopment phase Exp- Treatment) 8:58:07- Advertisement & Staff training Expenses (Always P&L) 8:59:20-Goodwill 8:59:35-Internally Generated Int Asset (Non Goodwill) 8:59:45- Intangible Assets that are obtained as Govt Grants 9:00:43- Intangible Assets (Reasearch of Acquiree)- Acquired under IND AS 103-Show at Fair value 9:02:40- Useful Life of Int Asset 9:03:54- Impact of Renewal Period on Useful life 9:04:38- Amortization Methods 9:04:45- Revenue based Amortization 9:05:49- Residual Value of Int Asset 9:06:40- Intangible Assets That are contained in a tangible Substance IND AS 40 9:17:12- Scope of IND AS 40 9:18:20-Measurement 9:19:22- Cases where the asset is not considered as Investment Property 9:22:55- Use for more than One purpose 9:26:11- Ancilliary Services 9:28:00- Property Leased to other Member of the group entity 9:29:35- General Recognition Principle 9:30:09- Subsequent Measurement 9:32:05- Fair value of Property 9:35:35- Transffers 9:38:17- Disposal IND AS 113 2:43:22- NRV Vs Fair value 2:44:56- Whats Fair value 2:46:44-Points influencing the Fair value 2:52:31- Unit of account 2:53:00- Principal Market, Most advantageous Market 2:57:03- Fair Value VS Fairvalue-Cost to sell (Differences) 2:58:14- Determining Fair Value of Non fInancial Assets (Highest & Best Use, Valuation Premise) 3:02:03- Determining Fair value of Financial Asset (Valuation Premise, Liquidity Disc, NCI Discount) 3:05:23-Fair Value Hierarchy 3:13:01- Cases of Entry price as Fairvalue along with Exceptions to it 3:15:18- Valuation Techniques 3:18:27-Determining fair value of liability and Equity Instruments Revise TYK from-ruclips.net/user/liveowoPlsI1rOo?si=wmm95l0TaXC_kgFA IND AS 20 5:4:20- Applicability 5:24:30- Gvt Grant Vs Govt Assistance 5:27:03- Recognition of Govt grants 5:27:55-Equity interest of Gvt -POint 5:28:10- When to create Deffered Grant A/C and when to take Grant to P&L. 58:29:12- Foregivable Loans 5:31:55- Loans at less than Market rate 5:31:13- Non monetary Govt grants 5:33:57-Grants Related to assets (PPE Eg)- Inclusive of Reversal/Repayment of grant back to gvt concept 5:40:24-Grants Related to Income- Inclusive of Reversal/Repayment of grant back to gvt concept Revise TYK -ruclips.net/user/liveq3LRPyGGvzE?si=6A7uDTs-vBSW21Aa IND AS 37 1:13:31-Diff btwn Provision & Liab 1:18:14-Diff btwn Present and possible obligation 1:20:07- Provision must be created only if all the following Conditions are satisfied a) Present obligation from past event ( Obliagtion may be Constructive( Customery/past practices) or Legal Obligation) b) There is probable outflow of resources c) The amount of outflow can be reliably measured d) The entity does not have an option/alternative to avoid such an outflow. 1:21:46- If any one of the above condition fails- Its a contingent Liab 1:23:07- Virtual Certainity and Contingent Asset Point 1:25:16- Measurement of Provision (Expected method & Most likely method) 1:28:09- Discounting and present value point ( Always use pre-tax disc rate, Risk adjusted Disc rate where required). Provsion Created must be at present value and unwinding of disc must be done each year!!-Remember this 1:30:07- Future events 1:31:07- Review of provision at end of each reporting period 1:32:10- Never create Provison for future operating losses or the Future op. expenses (bcz its not a present obligation from a past event) 1:32:45-Onerous Contract Points missed in onerous Contract (Definitions) a) Executory Contracts- Contracts where neither of the parties have fulfilled their obligations/ Both parties have partially performed their obligations to equal extent. b) IND AS 37 is applicable only to those Executory Contracts that are Onerous in nature. c) Onerous Contracts- They are those contracts in which the unavoidable costs to execute the contract is higher than the economic benefits from the Contract. 1:35:08- Knockoff of Reimbursement asset and provision is not allowed 1:37:57- Restructuring point.
For my ref Ind AS 108 4:41:30 Op seg = component of entity capable of gen rev & exp + op results reviewed regularly by CODM + discrete info avail 4:46:35 Core principle = disclose info - user evaluate nature & fin effect - business activity + eco environment 4:51:40 Aggregation criteria - seg have similar eco charac,nature, prod process, cust, methods, regulatory env + consistent with Ind as 4:55:08 Quantitative threshold a. seg rev (in + ex) >= 10% of combined b. *absolute* p/l >= 10% of greater of (combined profit or combined loss) c. assets >= 10% of combined d. Last - external rev of op >= 75% of total external rev. Else report some more seg 5:13:13 presention 1. Seg rev = ex + int - gst = rev(net) + other op inc 2. Op results = seg result + unallocated - int -tax = PAT 3. Other info (BS info) a. Seg assets + unallocated assets b. Seg liab + unallocated liab+ R&S + ESC c. Capex & Depn (Machinery related)
1:55:00 ind as 37 and 10 q 2:33:00 ind as 34 fixed production overhead q 5:12:00 disclosure of segment reporting q 5:58:00 ind as 20 Entity A is awarded...q 7:33:30 ind as 8 - Cheery ltd., ABC ltd. 8:32:00 ind as 16 questions 9:49:00 ind as 40 Shaurya ltd q
Time Stamp 0:03:00 Ind AS 1 0:50:50 Ind AS 10 1:13:08 Ind AS 37 2:04:21 Ind AS 34 2:42:08 Ind AS 113 3:37:22 Misc Discussion 3:46:45 Break 4:35:35 Ind AS 108 5:23:45 Ind AS 20 6:07:42 Ind AS 24 7:02:20 Ind AS 8 7:47:22 Break 7:55:20 Ind AS 16
1:00 IND AS 1 50:30 IND AS 10 1:13:00 IND AS 37 2:03:00 IND AS 34 2:42:00 IND AS 113 3:46:00 Lunch break 4:36:00 IND AS 108 5:24:00 IND AS 20 6:08:00 IND AS 24 7:03:00 IND AS 8 7:55:00 IND AS 16 8:49:00 IND AS 38 9:18:00 IND AS 40
For my ref Ind AS 8 7:06:20 A/c policies - principles, basis, conventions, rules, and prac 7:06:32 how to select & apply a/c policies 1. Specific Ind AS 2. if absent - mgt judgement - relevant, reliable, prudent,complete to users
Time stamp :) 1:00 IND AS 1 50:30 IND AS 10 1:13:00 IND AS 37 2:03:00 IND AS 34 2:42:00 IND AS 113 3:46:00 Lunch break 4:36:00 IND AS 108 5:24:00 IND AS 20 6:08:00 IND AS 24 7:03:00 IND AS 8 7:55:00 IND AS 16 8:49:00 IND AS 38 9:18:00 IND AS 40
For my ref Ind AS 113 2:42:22 items measured at FV eg: PPE/IA/IP revaluation model, Fin inst FVTPL/FVOCI, Bio assets, NCA held for sale 2:43:19 FV - market based, NRV - entity specific 2:46:22 FV = price recd to sell asset / paid to trf liab + orderly transaction + market participants + current market conditions 2:46:43 points to be noted for FV of asset Condition, loc, restrictions on sale/use 2:49:57 Entity specific restriction not considered (is business obj does not permit) 2:53:02 Principal & Most advantageous market eg: Rel shares FV to be determined - Listed in BSE as well as NSE - ind as says to take principal market - highest volume of transaction eg: if highest volume in both markets - then most ad market For FV only reduce transportation cost not selling cost 2:58:13 FV of non financial assets highest and best use - which 3rd party would pay Valuation premise - building along with furniture FV would be diff 3:02:05 FV of financial assets Valuation premise - thoda shares sold kamm price, 30% stake sold more price liquidity discount- unlisted shs jaldi nahi bikte thus value less non controlling discount - less no of shs not attractive thus discount 3:05:21 FV hierarchy Level 1 - most genuine - quoted price + active market + identical asset/liab + w/o adj Level 2 - any of above conditions violated quoted but similar a/l, quoted but inactive market, other than quoted (observable inputs) Level 3 - unobservable - internally generated 3:13:00 FV is exit price - Aaj bechne gaye toh kitna milega In some cases entry price = exit price a. Related party b. Stressed sale c. other than princ or most adv market 3:15:18 Valuation techniques Market approach (level 1,2) Income approach (level 3) Cost approach (Replacement cost approach) 3:18:35 FV of liability or equity if for other person it would be asset - FV from other person pov if not asset (like prov) - other market participants having prov
For my ref Ind AS 24 6:07:50 Only disclosure no accounting 6:11:55 Close person = father,mother,bro,sis,spouse,child,dom partner,child + dependants of person,spouse,dom partner 6:13:10 KMP = auth, repons -> plan,direct,control (executive, non ex director) 6:16:55 RPR between person & Rep entity = control , joint control, sig influence, KMP of rep entity or entity's parent 6:17:31 RPR between other entity & Rep entity = control , joint control, sig influence, provides KMP service 6:18:22 A - control B, A joint control C - B&C related 6:19:00 A joint control B, A joint control C - B&C related 6:19:17 A joint control B, A sig infl C - B&C related 6:19:45 A sig infl B, A sig infl C - B&C NOT related (imp) 6:29:15 A joint control C, B joint control C - A&B are not related 6:33:42 providers of fin,trade union, govt, cust, suppliers - not related party 6:35:56 Disclosure Category 1: even if no trans - name of baap, baap ka baap Category 2: only if trans a. Compensation to KMP (total, category wise) b. RPT - nature, amt, o/s bal, prov for dd 6:41:12 Govt related entities - if there is govt ka saaya in entity (control, jc, sign infl) GRE are exempted from disclosure 6:43:40 name of govt, nature of relation, amt nature of sign trans
For my ref: 39:31 Illustration 16 5:17:15 Aggregation Criteria (Ind AS 108) 5:53:00 Govt. Grant (Ind AS 20) -MTP Nov'21 6:51:47 Govt. related entities (Ind AS 24) Illustration 7:33:33 Change in A/c policy(Ind AS 8) Ques 9 & 10 8:31:20 Ind AS 16 ,TYK 6 & 11
9:18:42 The way he took a break of few seconds🥺, tells us how much efforts and hardwork it takes to fulfil what you have decided. Still he started to teach with the same energy after inhaling a bit. Hats off to your sir! It's our promise, we won't let you down🙏🏻
The ultimate saviour only he knows how to cover Ind AS in short period with appropriate coverage. thank you so much for your all the efforts !!! bowing down to your feet guruji give blessings.🙏🙏🙏👑👑👑 King for a reason !! FR krna hai aisa tension nhi aata hai.. Pratik sir hai na sath ho jayega.. 💯💯
this is possible only for the love of this subject and us students.. thanks 1:00 IND AS 1 50:30 IND AS 10 1:13:00 IND AS 37 2:03:00 IND AS 34 2:42:00 IND AS 113 3:46:00 Lunch break 4:36:00 IND AS 108 5:24:00 IND AS 20 6:08:00 IND AS 24 7:03:00 IND AS 8 7:55:00 IND AS 16 8:49:00 IND AS 38 9:18:00 IND AS 40
For my ref Ind AS 20 5:24:18 std applies when govt has given grant / assistance 5:24:33 govt grant - assets, money, loan discounted rate- a/c + disclosure govt assistance - pur entities goods since market me nahi bik raha, loan at market rate since bank not given- disclosure 5:27:03 Recog of govt grant - reasonable assurance - comply with conditions + grant will be recd 5:29:10 Forgivable loans 5:31:27 Non monetary gg a. Show land in nominal value and no gg b. Recog land and gg in FV 5:33:57 Presentation 5:34:30 Grant related to assets Method 1: show net amt asset Method 1: Show asset and gg separately. Dep and gg amortization same useful life 5:40:25 Grant related to income 1. If conditions attached then show as deferred income - GG recog as and when exp incurred (either income,exp separately or net exp)
For my ref Ind AS 34 2:04:51 this std applies to 2:05:55 ind as 34 comes into pic in case of condensed FS 2:07:07 if complete set of FS prepared - ind as 1 if condensed FS prepared - ind as 34 - headings + subtotals + addln items if ignored misleading + basic & diluted eps 2:08:42 notes will include significant events and transactions 2:09:17 Significant events eg a. Inventory written down to NRV b. Impairment loss booked or reversed c. cost of restructuring reversal d. Acq or disposal of PPE e. correction of prior period error f. changes in cont liab or cont assets g. default or breach of loan/contract h. settlement of litigation i. FV affected due to eco circumstances 2:11:30 Period of interim FS Addln points 1. If business seasonal - still income, exp on accrual basis 2. same a/c policies as in annual FS 2:16:41 For income tax purpose - take annual avg rate 2:22:17 Q2 Separate CG and other income 2:25:32 Q6 Imp question do check
Imagine there are more than 72k people who viewed the video but did not even consider liking after seeing this level of commitment and despite he has reminded also, amazing!
Rightly said 💯 such a shame ppl don't consider just touching a simple like button as a token of appreciation for someone's 10 hours of selfless hardwork, provided free of cost, which literally won't even take 1/10th of one second also...
Awesome revision session, WITHOUT COMPROMISING ANY OF THE CONCEPT, Within limited timeframe completed many INDAS, Confidence boosting lecture, MUST WATCH
Sir, Namasthe, Pranaam, Good morning, 144 pixel mein watch karte hai tho bhi bahuth picture clarity hai. This will help us a lot, Sir, our daily data 1.5 GB will have longer life span. Very much grateful to you Sir Thank you Sir
You are seriously the King! 👑 Thank you so much for your efforts!💓 10hrs+ in a single stretch!😮👏 After viewing this marathon, the level of confidence it increases is best sir!😍 🙌👑ALL HAIL KING PRATIK JAGATI(SIR)!!👑🙌
Sir, maine IND AS 113 aaj pehli baar padha hai, aur ye revision lecture itna effective hai, kam samay ne aapne acche se concepts +important questions bhi karwa liye, lagta nahi revision lecture hai, bohot detail ne aapne explain kiya hai. Sir, aapke efforts ke liye bohot bohot shukriya 🙏🏻 3:37:47
You were born to do this.✨ Your passion for teaching is unmatched. 🙌 I feel so blessed to be your student. 😇 You prepared the crux notes for this marathon and they are wonderful. Thank you so much for your efforts Sir.🙏
thank you for your selfless and kind efforts for students. Very rare to find selfless teachers purely dedicated for students success. I will always remember your kindness. May god bless you abundantly and give you all the happiness and success.
Yeh jog 5:15:39 108 hai …guys write notes, intro and conclusions as given in icai answer … you can make the whole table & still icai will give you 8.5/16 😢
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Time stamp :)
1:00 IND AS 1
50:30 IND AS 10
1:13:00 IND AS 37
2:03:00 IND AS 34
2:42:00 IND AS 113
3:46:00 Lunch break
4:36:00 IND AS 108
5:24:00 IND AS 20
6:08:00 IND AS 24
7:03:00 IND AS 8
7:55:00 IND AS 16
8:49:00 IND AS 38
9:18:00 IND AS 40
enjoy!!
8:45 IND as 38
Thanks Dear...🎉
Itna fast or clear revision to me apne aap kabi kar hi nai paata .... FR is lengthy untill you reach to pratik jagati revision 😂
Ind as 20 questions 5:47:00
22:13- breach, payable on demand
ND AS 1-3:05
IND AS 10- 50:30
52:17- adjusting event example
54:18- Non adj event example
56:00- Deemed adj events
1:02:36- Dividends
1:04:27- Going Concern-
Point missed- Event that casts doubt on ability of entity to continue as GC irrespective of whether it is adjusting or non adjusting, Reprepare Financials on Liquidation basis and State that GC is not appropriate in the disclosures!!
1:06:30- Points of Ques
1:06:56- Rocky surface
1:08:02- Duty Drawback
IND AS 8- 7:02:24
7:07:42- How to select and apply ACC policy
7:09:53- How to make judgement to develop ACC policy
7:11:56- Change in ACC policy (Retrospective effect)
7:14:16- Not a change in ACC policy
7:19:17- Change in ACC estimates( Prospective effect)
7:21:54- Errors (retrospective effect)
7:24:16- Adj event(IND AS 10) Vs Restatement of PY figs Vs 3rd set of B/S
7:28:03- How to provide Retrospective effect for change in ACC policy
7:31:53- Additional Points of Ques
Questions of IND AS 8&10- Revise From-
Illustrations and TYK-Ques-ruclips.net/user/liveO62uvR2n6s8?si=fvXJpMwVRZEGiAI4
IND AS 8-ruclips.net/video/ShyuloTOKg4/видео.htmlsi=wjn7vlmrnXC5Y7jA
IND AS 16-7:55:24
7:56:00- Definition & Recognition Criteria
7:58:54-Cost of PPE computation
8:00:00- Professional Fees Treatment
8:01:03- Dismantling/Decommisioning Treatment
8:01:33-Initial & Subsequent Measurement
8:01:43- Spare parts
8:02:06- Repairs & Maintenance exp
8:02:11- Replacement of parts
8:03:26- Self Constructed Asset
8:04:30- Bearer plant definition and applicable IND AS
8:06:36- Costs not to Capitalize
8:07:21-Ceasing of Capitalization & Commencement of Depreciation of Asset
8:08:23- Deffered payment, Asset Recognised at cashprice.
8:08:44- Exchange of Assets
8:12:00- Subsequent Measurement
8:17:15- 2 ways to treat OCI Surplus (On disposal- OCI>>>RE, (OR) proportionally OCI Reval surplus hits RE during life on SLM Basis)
8:17:42- Class wise Reval Model
8:18:46- Treating Accumilated Depreciation in case of revaluation of asset- Technique 1& 2
8:23:31- Points to remember-Depreciation
8:27:00- Accounting of Provision For Decommissioning (Including Accounting For Subsequent change in Provision For decommissioning)
8:26:36- Derecognition of PPE
Revise Ques From- ruclips.net/user/liveutEQEY5yRpY?si=AQaMQS9POVhuOlBI
IND AS 38 (8:49:01)
8:49:47- Definition of Int Asset
8:51:56-Indentifiable Asset Meaning
8:53:54-Recognition of Int Asset
8:55:30- Control of Asset
8:56:25- Internally Generated Int Asset(Research & Devlopment phase Exp- Treatment)
8:58:07- Advertisement & Staff training Expenses (Always P&L)
8:59:20-Goodwill
8:59:35-Internally Generated Int Asset (Non Goodwill)
8:59:45- Intangible Assets that are obtained as Govt Grants
9:00:43- Intangible Assets (Reasearch of Acquiree)- Acquired under IND AS 103-Show at Fair value
9:02:40- Useful Life of Int Asset
9:03:54- Impact of Renewal Period on Useful life
9:04:38- Amortization Methods
9:04:45- Revenue based Amortization
9:05:49- Residual Value of Int Asset
9:06:40- Intangible Assets That are contained in a tangible Substance
IND AS 40
9:17:12- Scope of IND AS 40
9:18:20-Measurement
9:19:22- Cases where the asset is not considered as Investment Property
9:22:55- Use for more than One purpose
9:26:11- Ancilliary Services
9:28:00- Property Leased to other Member of the group entity
9:29:35- General Recognition Principle
9:30:09- Subsequent Measurement
9:32:05- Fair value of Property
9:35:35- Transffers
9:38:17- Disposal
IND AS 113
2:43:22- NRV Vs Fair value
2:44:56- Whats Fair value
2:46:44-Points influencing the Fair value
2:52:31- Unit of account
2:53:00- Principal Market, Most advantageous Market
2:57:03- Fair Value VS Fairvalue-Cost to sell (Differences)
2:58:14- Determining Fair Value of Non fInancial Assets (Highest & Best Use, Valuation Premise)
3:02:03- Determining Fair value of Financial Asset (Valuation Premise, Liquidity Disc, NCI Discount)
3:05:23-Fair Value Hierarchy
3:13:01- Cases of Entry price as Fairvalue along with Exceptions to it
3:15:18- Valuation Techniques
3:18:27-Determining fair value of liability and Equity Instruments
Revise TYK from-ruclips.net/user/liveowoPlsI1rOo?si=wmm95l0TaXC_kgFA
IND AS 20
5:4:20- Applicability
5:24:30- Gvt Grant Vs Govt Assistance
5:27:03- Recognition of Govt grants
5:27:55-Equity interest of Gvt -POint
5:28:10- When to create Deffered Grant A/C and when to take Grant to P&L.
58:29:12- Foregivable Loans
5:31:55- Loans at less than Market rate
5:31:13- Non monetary Govt grants
5:33:57-Grants Related to assets (PPE Eg)- Inclusive of Reversal/Repayment of grant back to gvt concept
5:40:24-Grants Related to Income- Inclusive of Reversal/Repayment of grant back to gvt concept
Revise TYK -ruclips.net/user/liveq3LRPyGGvzE?si=6A7uDTs-vBSW21Aa
IND AS 37
1:13:31-Diff btwn Provision & Liab
1:18:14-Diff btwn Present and possible obligation
1:20:07- Provision must be created only if all the following Conditions are satisfied
a) Present obligation from past event ( Obliagtion may be Constructive( Customery/past practices) or Legal Obligation)
b) There is probable outflow of resources
c) The amount of outflow can be reliably measured
d) The entity does not have an option/alternative to avoid such an outflow.
1:21:46- If any one of the above condition fails- Its a contingent Liab
1:23:07- Virtual Certainity and Contingent Asset Point
1:25:16- Measurement of Provision (Expected method & Most likely method)
1:28:09- Discounting and present value point ( Always use pre-tax disc rate, Risk adjusted Disc rate where required). Provsion Created must be at present value and unwinding of disc must be done each year!!-Remember this
1:30:07- Future events
1:31:07- Review of provision at end of each reporting period
1:32:10- Never create Provison for future operating losses or the Future op. expenses (bcz its not a present obligation from a past event)
1:32:45-Onerous Contract
Points missed in onerous Contract (Definitions)
a) Executory Contracts- Contracts where neither of the parties have fulfilled their obligations/ Both parties have partially performed their obligations to equal extent.
b) IND AS 37 is applicable only to those Executory Contracts that are Onerous in nature.
c) Onerous Contracts- They are those contracts in which the unavoidable costs to execute the contract is higher than the economic benefits from the Contract.
1:35:08- Knockoff of Reimbursement asset and provision is not allowed
1:37:57- Restructuring point
Thank you for saving our time😇
dhanyabad
Thank you ❤❤❤
Thanks Bro.
Thank you so much
For my ref
Ind AS 37
1:13:30 diff between prov & liab
1:14:33 Prov made when amt & timing uncertain
eg: pollution control license prov not to be created because alt is to not use the plant
major overhauling prov not required because alt is not to use the ships
1:17:49 Crux is prov is created where there is no other alternative
1:18:15 Diff between present and possible obli
Eg. Complaint of water polluted. Dept sends notice of investigation - Possible oblg
Dept sends notice of penalty - present obligation
1:20:03 No provision in case of possible obli
1:21:30 Prov = present obl + probability(50%) + can be measured
if any of the 3 conditions not satisfied then contingent liab
1:21:51 contingent liab = possible obl/present obl with no prob or unable to measure
1:22:56 contingent liab - disclosed in nta, prov adjusted in p/l
1:23:08 contingent asset - usually disclosed. recognized if virtually certain (>95%)
1:25:30 measurement of prov
1:25:30 two methods (exp value method, most likely method)
1:29:43 use pre-tax discount rate for pv
1:31:35 Prov reviewed every reporting period end
1:32:09 No prov for future operating losses (alt there not to operate in future)
1:39:50 Onerous contract (lower of amt required to settle contract & penalty)
1:38:04 Restructuring (legal or constructive) - major changes in business
1:42:14 unavoidable cost - prov
1:44:37 Sea bed prov for decom (Ind AS 16)
1:47:04 Q(to be checked)
12 Standards in Total
3:05 Ind AS 1
51:14 Ind AS 10
1:13:23 Ind AS 37
2:04:26 Ind AS 34
2:42:10 Ind AS 113
4:35:58 Ind AS 108
5:23:59 Ind AS 20
6:07:42 Ind AS 24
7:02:22 Ind AS 8
7:55:24 Ind AS 16
8:49:42 Ind AS 38
9:17:11 Ind AS 40
Time stamp
1:00 IND AS 1
50:30 IND AS 10
1:13:00 IND AS 37
2:03:00 IND AS 34
2:42:00 IND AS 113
3:46:00 Lunch break
4:36:00 IND AS 108
5:23:00 IND AS 20
6:08:00 IND AS 24
7:03:00 IND AS 8
7:55:00 IND AS 16
8:48:00 IND AS 38
9:18:00 IND AS 40
For my ref
*Ind AS 1*
3:05 intro
4:19 Complete set of FS
5:43 P/L items
9:42 OCI items
12:04 BS items
12:59 Current and non current asset
4 conditions to be classified as current:
1. 12 months
2. Trading
3. Cash & CE
4. Normal op cycle
17:00 Deferred tax asset always non current
18:33 Current liability (3. loan which is repayable on demand. Rest same)
21:43 Breach of contract
26:10 Refinance and rollover
Crux:
if lender has given an option to refinance and entity expects then non current
_if lender has not given any option then in such cases:_
If entity enters into agreement before 31st mar - Non current
does not enter into agreement before 31st mar - Current
30:50 Addln points
38:14 Q (to be checked)
39:23 Q (to be checked)
*Ind AS 10*
condition - fire before end of reporting period - adjusting event
condition - after the end of reporting period - non adjusting event (disclose in notes to accounts)
55:56 examples of adjusting event
a. Court decision after reporting period
b. Customer bankruptcy
c. inventory recorded at cost (lower of cost/nrv). after the reporting period inventory sold for a price less than cost - adjusting event. Kahi na kahi nrv pehele se kamm thi
d. assets pur/sold of which cost determined after reporting period - adj event
e. Bonus payment
f. Fraud or error discovered after reporting period (condition pehele se thi hume badme pata chala)
1:02:29 Dividends
If equity - dividend declared is non adjusting event
if prf shares classified as liab - dividend declared is adjusting event
1:04:29 Going concern
1:06:57 Rocky surface - adjusting event
1:08:03 DDB not applied within 15 days - non adj event
1:09:49 contingent assets recorded only if virtually certain
Amazing work
Tu bada mast kaam kiya
3:04 IND AS 1
50:36 IND AS 10
1:13:06 IND AS 37
2:03:12 IND AS 34
2:42:07 IND AS 113
3:36:45 break
4:35:55 IND AS 108
5:23:48 IND AS 20
Ind as 7 not done by sir?
1:54:48 15 IND AS 37
7:33:23 IND AS 8 Q8
7:41:50 Q2
2:16:12 INDAS 34
2:18:27 Q4
2:20:05 6
2:21:48 2
2:22:22 9
3:05:25 IND AS 113 FV HIERARCHY
For My referance-LDR Skim through!!
IND AS 1-3:05
IND AS 10- 50:30
52:17- adjusting event example
54:18- Non adj event example
56:00- Deemed adj events
1:02:36- Dividends
1:04:27- Going Concern-
Point missed- Event that casts doubt on ability of entity to continue as GC irrespective of whether it is adjusting or non adjusting, Reprepare Financials on Liquidation basis and State that GC is not appropriate in the disclosures!!
1:06:30- Points of Ques
1:06:56- Rocky surface
1:08:02- Duty Drawback
IND AS 8- 7:02:24
7:07:42- How to select and apply ACC policy
7:09:53- How to make judgement to develop ACC policy
7:11:56- Change in ACC policy (Retrospective effect)
7:14:16- Not a change in ACC policy
7:19:17- Change in ACC estimates( Prospective effect)
7:21:54- Errors (retrospective effect)
7:24:16- Adj event(IND AS 10) Vs Restatement of PY figs Vs 3rd set of B/S
7:28:03- How to provide Retrospective effect for change in ACC policy
7:31:53- Additional Points of Ques
Questions of IND AS 8&10- Revise From-
Illustrations and TYK-Ques-ruclips.net/user/liveO62uvR2n6s8?si=fvXJpMwVRZEGiAI4
IND AS 8-ruclips.net/video/ShyuloTOKg4/видео.htmlsi=wjn7vlmrnXC5Y7jA
IND AS 16-7:55:24
7:56:00- Definition & Recognition Criteria
7:58:54-Cost of PPE computation
8:00:00- Professional Fees Treatment
8:01:03- Dismantling/Decommisioning Treatment
8:01:33-Initial & Subsequent Measurement
8:01:43- Spare parts
8:02:06- Repairs & Maintenance exp
8:02:11- Replacement of parts
8:03:26- Self Constructed Asset
8:04:30- Bearer plant definition and applicable IND AS
8:06:36- Costs not to Capitalize
8:07:21-Ceasing of Capitalization & Commencement of Depreciation of Asset
8:08:23- Deffered payment, Asset Recognised at cashprice.
8:08:44- Exchange of Assets
8:12:00- Subsequent Measurement
8:17:15- 2 ways to treat OCI Surplus (On disposal- OCI>>>RE, (OR) proportionally OCI Reval surplus hits RE during life on SLM Basis)
8:17:42- Class wise Reval Model
8:18:46- Treating Accumilated Depreciation in case of revaluation of asset- Technique 1& 2
8:23:31- Points to remember-Depreciation
8:27:00- Accounting of Provision For Decommissioning (Including Accounting For Subsequent change in Provision For decommissioning)
8:26:36- Derecognition of PPE
Revise Ques From- ruclips.net/user/liveutEQEY5yRpY?si=AQaMQS9POVhuOlBI
IND AS 38 (8:49:01)
8:49:47- Definition of Int Asset
8:51:56-Indentifiable Asset Meaning
8:53:54-Recognition of Int Asset
8:55:30- Control of Asset
8:56:25- Internally Generated Int Asset(Research & Devlopment phase Exp- Treatment)
8:58:07- Advertisement & Staff training Expenses (Always P&L)
8:59:20-Goodwill
8:59:35-Internally Generated Int Asset (Non Goodwill)
8:59:45- Intangible Assets that are obtained as Govt Grants
9:00:43- Intangible Assets (Reasearch of Acquiree)- Acquired under IND AS 103-Show at Fair value
9:02:40- Useful Life of Int Asset
9:03:54- Impact of Renewal Period on Useful life
9:04:38- Amortization Methods
9:04:45- Revenue based Amortization
9:05:49- Residual Value of Int Asset
9:06:40- Intangible Assets That are contained in a tangible Substance
IND AS 40
9:17:12- Scope of IND AS 40
9:18:20-Measurement
9:19:22- Cases where the asset is not considered as Investment Property
9:22:55- Use for more than One purpose
9:26:11- Ancilliary Services
9:28:00- Property Leased to other Member of the group entity
9:29:35- General Recognition Principle
9:30:09- Subsequent Measurement
9:32:05- Fair value of Property
9:35:35- Transffers
9:38:17- Disposal
IND AS 113
2:43:22- NRV Vs Fair value
2:44:56- Whats Fair value
2:46:44-Points influencing the Fair value
2:52:31- Unit of account
2:53:00- Principal Market, Most advantageous Market
2:57:03- Fair Value VS Fairvalue-Cost to sell (Differences)
2:58:14- Determining Fair Value of Non fInancial Assets (Highest & Best Use, Valuation Premise)
3:02:03- Determining Fair value of Financial Asset (Valuation Premise, Liquidity Disc, NCI Discount)
3:05:23-Fair Value Hierarchy
3:13:01- Cases of Entry price as Fairvalue along with Exceptions to it
3:15:18- Valuation Techniques
3:18:27-Determining fair value of liability and Equity Instruments
Revise TYK from-ruclips.net/user/liveowoPlsI1rOo?si=wmm95l0TaXC_kgFA
IND AS 20
5:4:20- Applicability
5:24:30- Gvt Grant Vs Govt Assistance
5:27:03- Recognition of Govt grants
5:27:55-Equity interest of Gvt -POint
5:28:10- When to create Deffered Grant A/C and when to take Grant to P&L.
58:29:12- Foregivable Loans
5:31:55- Loans at less than Market rate
5:31:13- Non monetary Govt grants
5:33:57-Grants Related to assets (PPE Eg)- Inclusive of Reversal/Repayment of grant back to gvt concept
5:40:24-Grants Related to Income- Inclusive of Reversal/Repayment of grant back to gvt concept
Revise TYK -ruclips.net/user/liveq3LRPyGGvzE?si=6A7uDTs-vBSW21Aa
IND AS 37
1:13:31-Diff btwn Provision & Liab
1:18:14-Diff btwn Present and possible obligation
1:20:07- Provision must be created only if all the following Conditions are satisfied
a) Present obligation from past event ( Obliagtion may be Constructive( Customery/past practices) or Legal Obligation)
b) There is probable outflow of resources
c) The amount of outflow can be reliably measured
d) The entity does not have an option/alternative to avoid such an outflow.
1:21:46- If any one of the above condition fails- Its a contingent Liab
1:23:07- Virtual Certainity and Contingent Asset Point
1:25:16- Measurement of Provision (Expected method & Most likely method)
1:28:09- Discounting and present value point ( Always use pre-tax disc rate, Risk adjusted Disc rate where required). Provsion Created must be at present value and unwinding of disc must be done each year!!-Remember this
1:30:07- Future events
1:31:07- Review of provision at end of each reporting period
1:32:10- Never create Provison for future operating losses or the Future op. expenses (bcz its not a present obligation from a past event)
1:32:45-Onerous Contract
Points missed in onerous Contract (Definitions)
a) Executory Contracts- Contracts where neither of the parties have fulfilled their obligations/ Both parties have partially performed their obligations to equal extent.
b) IND AS 37 is applicable only to those Executory Contracts that are Onerous in nature.
c) Onerous Contracts- They are those contracts in which the unavoidable costs to execute the contract is higher than the economic benefits from the Contract.
1:35:08- Knockoff of Reimbursement asset and provision is not allowed
1:37:57- Restructuring point.
Awesome man, it's takes a great deal of effort and energy to make this. Please keep up the good work. Hats off !
@@sunhzeiv Tqq ❤️🥲
❤
@@harsh123.1 ❤️
9:38:21 9:38:25 9:38:25 9:38:25 9:38:25
For my ref
Ind AS 108
4:41:30 Op seg = component of entity capable of gen rev & exp + op results reviewed regularly by CODM + discrete info avail
4:46:35 Core principle = disclose info - user evaluate nature & fin effect - business activity + eco environment
4:51:40 Aggregation criteria - seg have similar eco charac,nature, prod process, cust, methods, regulatory env + consistent with Ind as
4:55:08 Quantitative threshold
a. seg rev (in + ex) >= 10% of combined
b. *absolute* p/l >= 10% of greater of (combined profit or combined loss)
c. assets >= 10% of combined
d. Last - external rev of op >= 75% of total external rev. Else report some more seg
5:13:13 presention
1. Seg rev = ex + int - gst = rev(net) + other op inc
2. Op results = seg result + unallocated - int -tax = PAT
3. Other info (BS info)
a. Seg assets + unallocated assets
b. Seg liab + unallocated liab+ R&S + ESC
c. Capex & Depn (Machinery related)
1:55:00 ind as 37 and 10 q
2:33:00 ind as 34 fixed production overhead q
5:12:00 disclosure of segment reporting q
5:58:00 ind as 20 Entity A is awarded...q
7:33:30 ind as 8 - Cheery ltd., ABC ltd.
8:32:00 ind as 16 questions
9:49:00 ind as 40 Shaurya ltd q
3:05 INDAS 1
50:50 INDAS 10
01:13:22 INDAS 37
02:04:49 INDAS 34
02:42:08 INDAS 113
3:45:59 Lunch break
4:35:56 INDAS 108
"Pta nahi kis roop main aakar Narayan mil jayega"
Bhagwaan to aap hai sir hmare liye, you are the best sir ,,
Time Stamp
0:03:00 Ind AS 1
0:50:50 Ind AS 10
1:13:08 Ind AS 37
2:04:21 Ind AS 34
2:42:08 Ind AS 113
3:37:22 Misc Discussion
3:46:45 Break
4:35:35 Ind AS 108
5:23:45 Ind AS 20
6:07:42 Ind AS 24
7:02:20 Ind AS 8
7:47:22 Break
7:55:20 Ind AS 16
1:00 IND AS 1
50:30 IND AS 10
1:13:00 IND AS 37
2:03:00 IND AS 34
2:42:00 IND AS 113
3:46:00 Lunch break
4:36:00 IND AS 108
5:24:00 IND AS 20
6:08:00 IND AS 24
7:03:00 IND AS 8
7:55:00 IND AS 16
8:49:00 IND AS 38
9:18:00 IND AS 40
For my ref
Ind AS 8
7:06:20 A/c policies - principles, basis, conventions, rules, and prac
7:06:32 how to select & apply a/c policies
1. Specific Ind AS
2. if absent - mgt judgement - relevant, reliable, prudent,complete to users
Time stamp :)
1:00 IND AS 1
50:30 IND AS 10
1:13:00 IND AS 37
2:03:00 IND AS 34
2:42:00 IND AS 113
3:46:00 Lunch break
4:36:00 IND AS 108
5:24:00 IND AS 20
6:08:00 IND AS 24
7:03:00 IND AS 8
7:55:00 IND AS 16
8:49:00 IND AS 38
9:18:00 IND AS 40
comment chor
For my Ref :
24:00 IND AS 1 financial borowing carvout imp
For my ref
Ind AS 113
2:42:22 items measured at FV
eg: PPE/IA/IP revaluation model, Fin inst FVTPL/FVOCI, Bio assets, NCA held for sale
2:43:19 FV - market based, NRV - entity specific
2:46:22 FV = price recd to sell asset / paid to trf liab + orderly transaction + market participants + current market conditions
2:46:43 points to be noted for FV of asset
Condition, loc, restrictions on sale/use
2:49:57 Entity specific restriction not considered (is business obj does not permit)
2:53:02 Principal & Most advantageous market
eg: Rel shares FV to be determined - Listed in BSE as well as NSE - ind as says to take principal market - highest volume of transaction
eg: if highest volume in both markets - then most ad market
For FV only reduce transportation cost not selling cost
2:58:13 FV of non financial assets
highest and best use - which 3rd party would pay
Valuation premise - building along with furniture FV would be diff
3:02:05 FV of financial assets
Valuation premise - thoda shares sold kamm price, 30% stake sold more price
liquidity discount- unlisted shs jaldi nahi bikte thus value less
non controlling discount - less no of shs not attractive thus discount
3:05:21 FV hierarchy
Level 1 - most genuine - quoted price + active market + identical asset/liab + w/o adj
Level 2 - any of above conditions violated
quoted but similar a/l, quoted but inactive market, other than quoted (observable inputs)
Level 3 - unobservable - internally generated
3:13:00 FV is exit price - Aaj bechne gaye toh kitna milega
In some cases entry price = exit price
a. Related party b. Stressed sale c. other than princ or most adv market
3:15:18 Valuation techniques
Market approach (level 1,2)
Income approach (level 3)
Cost approach (Replacement cost approach)
3:18:35 FV of liability or equity
if for other person it would be asset - FV from other person pov
if not asset (like prov) - other market participants having prov
For my ref
Ind AS 24
6:07:50 Only disclosure no accounting
6:11:55 Close person = father,mother,bro,sis,spouse,child,dom partner,child + dependants of person,spouse,dom partner
6:13:10 KMP = auth, repons -> plan,direct,control (executive, non ex director)
6:16:55 RPR between person & Rep entity = control , joint control, sig influence, KMP of rep entity or entity's parent
6:17:31 RPR between other entity & Rep entity = control , joint control, sig influence, provides KMP service
6:18:22 A - control B, A joint control C - B&C related
6:19:00 A joint control B, A joint control C - B&C related
6:19:17 A joint control B, A sig infl C - B&C related
6:19:45 A sig infl B, A sig infl C - B&C NOT related (imp)
6:29:15 A joint control C, B joint control C - A&B are not related
6:33:42 providers of fin,trade union, govt, cust, suppliers - not related party
6:35:56 Disclosure
Category 1: even if no trans - name of baap, baap ka baap
Category 2: only if trans
a. Compensation to KMP (total, category wise)
b. RPT - nature, amt, o/s bal, prov for dd
6:41:12 Govt related entities - if there is govt ka saaya in entity (control, jc, sign infl)
GRE are exempted from disclosure
6:43:40 name of govt, nature of relation, amt nature of sign trans
For my ref:
39:31 Illustration 16
5:17:15 Aggregation Criteria (Ind AS 108)
5:53:00 Govt. Grant (Ind AS 20) -MTP Nov'21
6:51:47 Govt. related entities (Ind AS 24) Illustration
7:33:33 Change in A/c policy(Ind AS 8) Ques 9 & 10
8:31:20 Ind AS 16 ,TYK 6 & 11
1:54:35 important question on IND AS 37 - Restructing provsion
9:18:42
The way he took a break of few seconds🥺,
tells us how much efforts and hardwork it takes to fulfil what you have decided.
Still he started to teach with the same energy after inhaling a bit.
Hats off to your sir!
It's our promise, we won't let you down🙏🏻
The ultimate saviour only he knows how to cover Ind AS in short period with appropriate coverage. thank you so much for your all the efforts !!! bowing down to your feet guruji give blessings.🙏🙏🙏👑👑👑 King for a reason !!
FR krna hai aisa tension nhi aata hai..
Pratik sir hai na sath ho jayega.. 💯💯
this is possible only for the love of this subject and us students.. thanks
1:00 IND AS 1
50:30 IND AS 10
1:13:00 IND AS 37
2:03:00 IND AS 34
2:42:00 IND AS 113
3:46:00 Lunch break
4:36:00 IND AS 108
5:24:00 IND AS 20
6:08:00 IND AS 24
7:03:00 IND AS 8
7:55:00 IND AS 16
8:49:00 IND AS 38
9:18:00 IND AS 40
For my ref
Ind AS 20
5:24:18 std applies when govt has given grant / assistance
5:24:33 govt grant - assets, money, loan discounted rate- a/c + disclosure
govt assistance - pur entities goods since market me nahi bik raha, loan at market rate since bank not given- disclosure
5:27:03 Recog of govt grant - reasonable assurance - comply with conditions + grant will be recd
5:29:10 Forgivable loans
5:31:27 Non monetary gg
a. Show land in nominal value and no gg
b. Recog land and gg in FV
5:33:57 Presentation
5:34:30 Grant related to assets
Method 1: show net amt asset
Method 1: Show asset and gg separately. Dep and gg amortization same useful life
5:40:25 Grant related to income
1. If conditions attached then show as deferred income - GG recog as and when exp incurred (either income,exp separately or net exp)
Cleared exams in the last attempt but still come here every time you upload videos to admire such a selfless person ✨❤
For my ref
Ind AS 34
2:04:51 this std applies to
2:05:55 ind as 34 comes into pic in case of condensed FS
2:07:07 if complete set of FS prepared - ind as 1
if condensed FS prepared - ind as 34 - headings + subtotals + addln items if ignored misleading + basic & diluted eps
2:08:42 notes will include significant events and transactions
2:09:17 Significant events eg
a. Inventory written down to NRV
b. Impairment loss booked or reversed
c. cost of restructuring reversal
d. Acq or disposal of PPE
e. correction of prior period error
f. changes in cont liab or cont assets
g. default or breach of loan/contract
h. settlement of litigation
i. FV affected due to eco circumstances
2:11:30 Period of interim FS
Addln points
1. If business seasonal - still income, exp on accrual basis
2. same a/c policies as in annual FS
2:16:41 For income tax purpose - take annual avg rate
2:22:17 Q2 Separate CG and other income
2:25:32 Q6 Imp question do check
Can't describe what he is 🙏💯 to me , Jese Krishna bhgwan Arjun k sath khade the wese Ap hamare sath ho 🙏
For my ref
8:30:53 imp for nas16
8:58:18 always pl
9:09:44
9:11:43 must
2:49:43
2:54:34
2:57:11
3:14:43
3:16:45 crux ifrs13
3:24:59 imp
2:57:03 ifrs13 FV
7:33:26 as8
ERRORS EXAMPLE - 7:24:09 ( FOR MY REF ) , 7:33:42 - ques num 10 , 7:41:47 - ques num 9
Imagine there are more than 72k people who viewed the video but did not even consider liking after seeing this level of commitment and despite he has reminded also, amazing!
Rightly said 💯 such a shame ppl don't consider just touching a simple like button as a token of appreciation for someone's 10 hours of selfless hardwork, provided free of cost, which literally won't even take 1/10th of one second also...
Damn right ...liking the videos is the bare minimum basic thing one MUST DO !!!
Add 23k more to them
And 3k more in last 24 hours
Add 3.5K more to that!!!
63.5K views now...
We really appreciate his commitment.....but we can't follow Hindi..... If it is in English we could have been benefitted.......
9:09:39 important questions marking of ind as 38
ill 3/6/8/10/11
tyk 7/8/11/12/15(must)
Rtp Q 2
LDR 5:50:51 Govt Grant
6:31:00 RELATED PARTY
LDR
8:14:00 PPE
8:21:10 PPE
8:46:00 PPE
9:06:06 Intangible
9:25:00 Investment Property
9:39:00
IndAs 1
38:50 - Q7,8
39:26 - Q11
47:56 - Q12,2,6
IndAs 10 - Q7
the man, the myth, the legend....... ultimate Saviour for CA students❤❤thankyou sir
9:45 Ind AS 1 OCI
39:25 Illus 16 B/S format
6:07:45 Ind As 24
02:25:34 AK Q.2 Rtp pg no. 16.8
5:20:42 Format of segmental reporting
LDR
IAS16 08:31:30
IAS 38 09:09:43
IAS 40 09:42:10
IAS 1 20:20
10 51:15 - 1:12:20
37 1:46:50
34 2:18:15
113 3:22:15
108 4:59:00
20 5:46:54
24 6:47:37
8 7:33:20
Sir, khubh khub dhanyawad❤. Aapka revision Video dekhake fr mai confidence badh raha hai🙏🏻🙏🏻🙏🏻🙏🏻
QUESTION 1 - 5:47:39 ABC LTD HAS RECEIVED THE FOLL GRANTS , QUESTION 8 - 5:50:56 - ENTITY A IS AWARDED A GOVERNMENT GRANT OF 60000
You are great sir you are only CA final sir teach us with full dedication . Huge respect towards your effort. Thank u so much Sir 🙏🙏
Session was too good sir. Was able to revise till Ind as 24 and feeling relaxed.
7:11:44 theory ratta accounting policies
7:45:00
ind as 37 1:13:00
ind as 38 8:49:00
Thank you so much Pratik Jagati Sir
🙏😊
(Aap ko aise hi King nhi bolte sir, aap hai)
🔥🔥🔥🔥🔥🔥
I’ll give my fullest potential to clear Nov’24 final exams
1:32:45 Onerous Contract
God bless you sir nonstop 10+ hrs lectures is not a halwa thing.
Your efforts for us are always top notch #Respect🔥✨
8:36:48 ind as 16 Q6 Nuclear Power Plant
7:54:45 IND AS 16 PPE
Awesome revision session,
WITHOUT COMPROMISING ANY OF THE CONCEPT,
Within limited timeframe completed many INDAS,
Confidence boosting lecture,
MUST WATCH
IND AS 37 - EXAMPLES START - 1:44:11 , QUESTIONS START - 1:47:07
Sir,
Namasthe,
Pranaam,
Good morning,
144 pixel mein watch karte hai tho bhi bahuth picture clarity hai.
This will help us a lot, Sir, our daily data 1.5 GB will have longer life span.
Very much grateful to you Sir
Thank you Sir
IND AS 40 , QUESTION S- ILL 1 SUN LTD - 9:42:21
5:10:30 - Segment Reporting Format
You are seriously the King! 👑
Thank you so much for your efforts!💓 10hrs+ in a single stretch!😮👏 After viewing this marathon, the level of confidence it increases is best sir!😍
🙌👑ALL HAIL KING PRATIK JAGATI(SIR)!!👑🙌
Ind as 34 2:33:09
The way you explain the things is so perfect and we are able to remember these small INDAS just by seeing your lectures✨ Thankyou so much sir for this
5:10:24 segment reporting tyk 2 xltd
2:11:26 ind as 34- comparatives
5:10:27 Q2
IND AS- 113 - Q7: 3:25:01
IND AS- 37 - Q4: 1:54:49
you are not human being you are a robot. our best wishing you will be the man of most valuable in india as well as world ASAP. thanks a ton👌
Sir, maine IND AS 113 aaj pehli baar padha hai, aur ye revision lecture itna effective hai, kam samay ne aapne acche se concepts +important questions bhi karwa liye, lagta nahi revision lecture hai, bohot detail ne aapne explain kiya hai.
Sir, aapke efforts ke liye bohot bohot shukriya 🙏🏻 3:37:47
You were born to do this.✨
Your passion for teaching is unmatched. 🙌
I feel so blessed to be your student. 😇
You prepared the crux notes for this marathon and they are wonderful. Thank you so much for your efforts Sir.🙏
2:25:30 Question no. 6 IND AS 34
INDAS 1 - 3:02
Indas10 -50:27
5:16:35 operating segment
Koti koti naman sir apko🙏
sir thank you for this marathon bcoz these marathons save a lot of time.. thank u sir.. may god bless u sir.
3:25:01 Q9 Ind AS 113
Ind AS 20
Q4 5:47:40
thank you for your selfless and kind efforts for students. Very rare to find selfless teachers purely dedicated for students success. I will always remember your kindness. May god bless you abundantly and give you all the happiness and success.
Ind AS8 ques 7:33:25
Ind as 113 3:21:02
IND AS 108 BIG Q. Reporting format Segment Reporting Q. 5:10:00
1:46:07 - INDAS 37 Ques
Current Liabilities 18:33
Yeh jog 5:15:39 108 hai …guys write notes, intro and conclusions as given in icai answer … you can make the whole table & still icai will give you 8.5/16 😢
Please also add the 9hrs 19mins video in this playlist as well which has the mid size IndAS
Sir, aapse pdne k bad confidence aata h ki ab jake 100% concept clear huve h..
Thanks for doing these type of efforts for us...!
COME HERE FOR FULL IND AS 16 REVISION. FELLING BOMBASTIC NOW....👌👌
5:12:39 LDR
3:23:55 - QUESTION START IND AS 115
Refering this video One day before exam will make lot of help , thank you sir❤
Thanku so much sir for providing such helpful last day revision❤
Draft balance sheet 39:25
Koti koti Naman sir, Gajab ki concept clearity hai. 😊
illus 4 indas 34 plus 2 2000 mt question @2:33:20
6:07:45 IND AS 24
Best ❤
Thank you soo much sir
Lots of respect and love for you ❤🙏🙏🙏
2:25:33 ind as 34 tyk 6
5:46
Koti Koti Naman Sir🙏🙏🙏...Aapka itna tagda Dedication ke liye...Thank you so much Sir!!
40:20
Completely worth watching this marathon. Thank you so much sir🙏
Amazing sessions on full coverage in a limited time