@shalinishukla-h8g
IND AS 115 | REVENUE FROM CONTRACTS WITH CUSTOMERS { Ends at 2:29:00 ; MUST Watch every qs 1:50:00 onwards }
01:49 Concept of Revenue Recognition- 5 step Model
00: 06:44 Identifying PO Imp for theory
00:09:25 Imp- Significant Integration Service (Even though goods and services are provided separately, in certain cases they are delivered together as a complete single project)
00:12:56 Step 3- Determine TP | Variable Consideration
00:14:57 Example on Variable consideration
00:19:13 Q.31 ( Variable Consideration + Input method of Recognition)
26:22 Significant Financing Component
31:00 Q. St Ltd
19:29 illustration 32
28:02 example (control of goods transferred at inception date)
30:49 illustration 40
45:13 example ( allocating transaction price to performance obligation)
46:57 illustration 54
47:40 illustration 55
52:58 example ( contract inception date)
1:03:57 illustration 65
1:09:25 example ( customer options for additional goods/services)
1:21:49 example 32( similar to illustration 32)
1:30:01 illustration 67
1:36:40 illustration 75
1:45:14 illustration 9
1:47:25 illustration 56
1:53:43 illustration 57
1:57:52 ques-6 (rtp, mtp) (mtp sept-22)
2:04:29 ques-7 ( other rtp, mtp) ( PP nov 20)
2:16:07 ques-1 (other rtp, mtp)(rtp may’19/mtp oct’19/ oct’20)
IND AS 116 | LEASES { TO WATCH JUST 1 HOUR EFFECTIVELY on EXAM EVE (as marked here ) }
02:49:33 Start
3:06:00 - 03:25:00 - ( SEE EXAM MORNING )
3:25:02- Lease Modification
03:33:22 Q9
03:43:52- ( SEE EXAM MORNING ) SALE & LEASE BACK QS
03:57:07 ( SEE EXAM MORNING ) TRANSITION OPn BS ; FULL RETROSPECTIVE ; MODIFIED APPROACH [ALT 1 & ALT 2]
04:07:44 LESSOR ACCOUNTING [ Net Investment a/c Dr [PVof Lease Rentals+PV GRV +PV UGRV]
To CA of Asset leased
To P/L (gain/loss B/f)
** NOTE: PV of Lease Payments= PV of LR + PV of GRV; so for calc whether Fin Lease or not ; if PV of LP is SUBSTANTIALLY EAQUAL TO FAIR VALUE i.e 90% or more , take PV OF LP i.e PV of LR+GRV only NOT UGRV**
04:12:49 LESSOR is CASE 1: NON MANUFACTURER/ NON DEALER ;
CASE2- MANUFACTURER/ DEALER LESSOR --> [ Net Investment a/c Dr [PVof Lease Rentals +PV GRV +PV UGRV]
COGS a/c Dr [ CA- PV UGRV]
To CA of Asset leased
To Revenue [ NI - PV UGRV]
MANUFACTURER/ DEALER LESSOR - The Initial Direct Cost charged to P&L NOT CAPITALISED IN FV OF ASSSET UNLIKE NON MFR/NON DEALER LESSOR(i.e Normal cases) thus NO Concept of Implicit rate of return ,
MANUFACTURER/ DEALER LESSOR--> DISCOUNT PV USING MKT RATE OF INT
NON MFR/NON DEALER LESSOR(i.e Normal cases)--> DISCOUNT PV USING IMPLICIT RATE OF INT
IMPLICIT RATE OF INT = such Rate in which FAIR VALUE+ INITIAL DIRECT COST should be equal to PV of LP+GRV+UGRV
04:19:39 - ( MUST SEE EXAMDAY ) Qs on MANUFACTURER/ DEALER LESSOR
4:26:00 - ( MUST SEE EXAMDAY ) SUB LEASE
4:29:00 - ( MUST SEE EXAMDAY ) SEPARATION OF TOTAL CONSIDERATION Of LEASE ((i)Truck, (ii)Exacavator and related thing, (iii)Office building& related thing like HVAC system) & NON LEASE COMPONENTS (i.e GOODS/SERVICE like Common area maintanenace) ; ALLOCATION OF ' Neither L or NL nor G/S Components ' into L & NL Compo ON PRO RATA AS PER STANDALONE PRICES WEIGHTS naturally ho jayega jab Particualar LEASE Compo me TOTAL CONISDERATION x LEASE COMPO ka standalone price/ SUM of ALL Lease Compo + NON LEASE Compo ka standalone price krenge )
Note- Neither L nor NL Components =Property taxes, Insurance, Admin Tasks; these are Allocated proportionately to L & NL compo on Standalone price basis weights
4:35:00 Till 4:44:00- Theory
4:44:00 IND AS 116 ENDS HERE
@Khushi_680
Ind as 115 19:29 illustration 32 28:02 example (control of goods transferred at inception date) 30:49 illustration 40 45:13 example ( allocating transaction price to performance obligation) 46:57 illustration 54 47:40 illustration 55 52:58 example ( contract inception date) 1:03:57 illustration 65 1:09:25 example ( customer options for additional goods/services) 1:21:49 example 32( similar to illustration 32) 1:30:01 illustration 67 1:36:40 illustration 75 1:45:14 illustration 9 1:47:25 illustration 56 1:53:43 illustration 57 1:57:52 ques-6 (rtp, mtp) (mtp sept-22) 2:04:29 ques-7 ( other rtp, mtp) ( PP nov 20) 2:16:07 ques-1 (other rtp, mtp)(rtp may’19/mtp oct’19/ oct’20)
@mohammadabdulrizwan5897
2:49:33 Ind AS 116 3:06:40 Disc Rate used 3:08:25 Q.31 Fixed rate+Lease rental in beginning 3:12:25 Q.32 CPI Index + beginning 3:21:37 Lease in Forex 3:24:27 Remeasurement 3:24:50 Lease Modification (LDR) 3:29:19 Q.35 Decrease in scope 3:33:19 Q.37 Inc+Dec in scope (LDR) 3:43:57 Q.45 Sale & Lease Back 3:55:21 Q.46 Retrospective 4:07:55 Books of Lessor 4:19:39 Q.38 - LDR 4:26:01 Sublease 4:28:58 Theory
@GyanSingh2911
Amazing revision....i love it Timer:- IND AS 115 - 2:07 onwards BREAK 2:37:15 TO 2:49:20 IND AS 116 - 2:49:33 onwards😍
@taniyakandari4988
Ind as 116 leases Q11 3:12:17 Q9 3:33:22 Q16 3:43:54 3:57:07 transition approach Q13 4:19:39 Practical expident 4:34:42
@priyanka-3874
Review again on 2 may 25 @1:25:00 loan, lease, put option @1:38:00 Construction road @1:48:00 license A, B @2:17:00 KK LTD Rewards
@Nileshyaduwanshi-p2r
Amazing revision....i love it Timer:- IND AS 115 - 2:07 onwards BREAK 2:37:15 TO 2:49:20 IND AS 116 - 2:49:33 onward
@arpitgarg5130
For my reference: 3:43:42 Sale and lease back transaction
@DeepikaPoojari-x5m
3:01:00 In substance fixed lease payment 3:02:00 crux of lease payment 3:03:00 incentive received upfront deducted from ROU asset receivable in future deducted from future lease payment 3:25:00 ROU computation 4:44:00 end
@Singh_shubhaa
6:50 performance obligation 12:59 Determine transaction price 43:37 Allocating transaction price
@JustStudy-r7z
FMR IND AS 115 01:03:58 illus 65 01:29:13 Repurchase Agreements Crux 01:36:37 illus 75 (Service Concession Arrangement)⭐ 01:45:12 illus 9 ( Modification) 01:47:27 Illus 56 01:56:08 Q6 - MTP Sep'22)⭐ 02:04:29 Q7- PP Nov'20
@nandkishorsharma9632
Discount 1:09:25 Repurchase Agreement 1:23:51 Reward Point 2:16:11
@sra1405
3:52:47 sale and lease back revision 3:55:22 transition approach 4:23:03 lessor accounting 4:25:28 sublease
@meghshm_dandgavhal
1:47:28 que- lic A and b
@ishanarora5764
My Ref : Ilus 37 : 3:33:30 , 4:16:00 - Lessor Finance Lease , 3:43:54 - Sale and Lease back , 4:29:14 (lease &Non Lease), TYQ (new book) - Ques 8 and 9 , Back page Imp Points
@mehakdograa
2:04:28 Q.7 RTP MTP ( ind as 115 ) concept beg lease rental 3:11:25 3:45:30 illus 45 ( sale and lease back ) LESSOR ACING 4:07:55
@arpitanand8868
1:58:22 mr anik 2:04:50 abc ltd
@sonalkhattar688
03:24:56 Lease modification
@amandeep-hx7iu
1:45:56 cumulative catchup basis . . Modification
@gr33nf0rest