CA Final FR | Marathon Revision | Major Topics | Pratik Jagati

[varadkulkarni]

"Pata nahi kis roop mein aa kar, narayan mil jayega" aaj tak suna tha aaj dekha liya. My greatest gratitude to CA Pratik Jagati Sir

[digvijayrohatgi]

Time Stamps

Financial Instruments 0:00:00
Ind AS 115 01:58:00
Ind AS 116 03:16:12
Ind AS 102 04:46:00
Break 05:45:00
Ind AS 103 06:36:11
Ind AS 110 08:24:07
Analysis of FS 10:40:33

[sjworld]

Atul sir QB(Nov-22)
Q-3(illust 25) -28:00
Q-4-29:40
Q-2-31:55
Q-16-34:45
Q-17-38:41
Q-8-43:12
Q-6-47:16
Q-14-49:50
Q-18-50:49
Q-34-55:55
Q-39-1:06:34
Q-24(extinguishment) -1:15:25
Q-41-1:22:28
Q-19-1:29:26

Q-9(Scope decrease in years) -3:55:30
Ind AS
Q-29-7:42:36
IndAs
Q-42-8:43:13
Q-16-8:51:53
Q-18-8:53:36
Q-29-9:06:14
Q-45-9:12:56
Q-19-9:15:48
Q-2-9:20:56
Q-9(chain) -9:43:14

[mncrystal]

For my ref
Ind AS 116
3:22:38 Lessee - always creates ROU/LL
Lessor - Checks OL/FL
3:25:20 Master sum
3:32:42 When original rate used and when revised
Index/Residual value change, variability resolved - Original rate (no control)
Reassmnt of lease term, pur option, modification - Revised rate (control)
Both factor - Revised rate
3:35:20 Journal entries
1. ROU to LL
2. Int exp to LL
3. LL to bank
4. Dep to ROU
3:36:00 Lease payment= rent, in substance fixed pmt, termination penalties, incentive, GRV, exercise price of pur option, variable lease
3:37:30 ROU = PV of lease pmt + cash paid + directly attri cost - initial upfront incentive + PV of dismantling
3:38:33 IRR/disc rate - PV of lease pmt + UGRV = FV of asset + inital direct cost
3:41:55 Whenever payment is beginning of year. In LAT reduce rent first then interest

[S________________________P]

FINANCIAL INSTRUMENTS - COMPLETE TIME STAMPS :-

Questions (QB/Super 400)
43:16 (Ill 32/60) A Ltd [Quarterly interest calculation]
47:21 (Ill 28/59) XYZ Ltd.
50:00 (TYK 4/87) K Ltd
50:40 (TYK 5/88) On 1 April 20X1, an 8% convertible loan....


52:50 DERIVATIVES FA/FL ACCOUNTING
55:53 (Comprehensive Ill 3/81) SamCo. Ltd.

01:01:45 EMBEDDED DERIVATIVES
01:06:30 (Comprehensive Ill 4/82) Entity A * {1:09:14 - Receivable Dollar mtlb Dollar BUY karne ka contract kiya aur Dollar badhega to hamaara faayda hoga, aur Payable Dollar mtlb Dollar SELL karne ka contract kiya. Don't get confused with SFM Forex because wahaan Exporter ke case mein Dollar receivable hota hai means Sell Dollar maan ke solve karte hain}

01:11:40 STRATEGIC DEBT RESTRUCTURING
01:15:22 (TYK 3/86) Wheel Co. borrowed 500, 000, 000 from a bank [10% test karte time dhyan rakhna comparison kar rahe hain isliye Revised Cash Flows ko OLD EIR se pull karna] [Baad mein Extinguishment Accounting karte time i.e Modification karte time REVISED EIR lena]

(TYK 2/85) Do Self (Important) **

01:21:00 TRADE DATE/SETTLEMENT DATE ACCOUNTING)
01:22:26 (Unit 5 Ill 3/70) On 1 January 20X1 *

01:25:22 RECLASSIFICATION OF FINANCIAL ASSETS

01:29:12 (Unit 3 Ill 34/64) The amortisation schedule [Early Redemption Option to Prepay] *

01:32:16 IMPAIRMENT OF FINANCIAL ASSETS

01:37:05 LIFETIME ECL AND 12 MONTHS ECL {Trick to learn - Lifetime ECL mein saare Short term TR aa jayenge aur aise Long term TR bhi aa jayenge jinka credit risk significantly increase ho gaya}
01:38:28 (RTP Section Q3/91) An entity purchases a debt instrument *

01:39:55 FINANCIAL GUARANTEE
01:39:57 (TYK 6/89) On 1 April 20X1 *

01:44:58 HEDGE ACCOUNTING
01:44:58 (TYK 6/92) Besides construction activity [Do Practice] {Trick to learn entry - Hedging is not derivative but we can take its help while passing journal entry. In Derivative contract, we pass entry as DFA Dr. to P/L or P/L to DFL, but in Cash Flow Hedging, entry will be Future Contract Dr. to CFH Reserve/OCI or CFH Reserve/OCI Dr. to Future Contract} *

01:50:35 DERECOGNITION OF FINANCIAL ASSETS (Not so important, just read)

01:53:25 CONTINUING INVOLVEMENT ASSETS
01:53:25 (Unit 5 Ill 12A, 12B, 12C/73, 74, 75) Entity C agrees *

FI OVER HERE!!

[ramyasajjan]

1:41:26 -financial guarantee
1:45:04 -hedge
4:18:03 -lessor accounting
4:31:23 -transition approach
8:01:44 -BC-Tyk13
10:21:37- loss making associate
10:54:04 -HTM ANALYSIS CHAPTER

[CANEELAMPANWAR]

FR and SFM kahi se, kisi se bhi padh lo, last moment pe final kick lene Pratik Sir ke pass hi aana padta hai.. 😂
🙏🏻🙏🏻 Thank you so much Sir

[AbC]

sir kal aap acchi nind ar hmari itni care krne ke liye aapka dil se thanks....

[S________________________P]

2:06:53 Step 2 mein Seperate PO kab maanengey?? Distinct :- [(i)G/S sep sold (ii) G/S sep identifiable] [SIS❌SM❌HII❌]
2:07:55 Transaction Price?? Jo paisa milega customer se but usme GST ❌. Hence, GST shall be excluded.
2:09:30 Variable Consideration (includes EVM and MLA)
2:11:29 Step 4 mein Step 3 wali TP jo humne Determine kari usey Allocate karenge Step 2 wale POs pe Pro Rata basis pe. But isme hum VC aur Discount ko allocate nahi karte. (vc/d❌) {Eg of why TP allocation excludes allocation of VC :- Performance Bonus only for Construction Services where Maintenance Services are also provided in addition to Construction Services. Yaha Pro Rata basis pe allocate nahi karenge bcoz PB ka MS se koi lena dena hi nahi hai.} {Eg of why TP allocation excludes allocation of Discount :- Bcoz ho sakta hai ki Supplier 3 products bechta ho par Discount kinhi 2 pe hi deta ho}
2:13:35 Inception date pe allocate karenge TP ko
2:14:35 TP baadme badal gaya
2:16:06 Control trfd over a pd of time hota hai toh revenue bhi tod tod ke dikhayenge
2:17:45 Cumulative Catch Up Basis
2:19:35 Significant Financing Component (2:20:38 Eg on SFC) (2:22:20 Q on SFC)
2:24:16 2:24:32
2:26:00 Non Cash Consideration

[anubhavgoel]

BUSINESS COMBINATION - COMPLETE TIME STAMPS :-

Start 6:36:50

Additional Points :-
>Contingent Consideration by Acquirer* 6:43:02 6:44:00 6:44:32
>Contingent Liability of Acquiree* 6:45:40 6:46:24 6:47:21 6:48:38
>Direct COA - P/L
>Indemnification Asset* 6:49:27
>Asset Held for Sale - FVLCTS
>Assembled Workforce 6:53:35
>Intangible Assets* 6:54:09
>Reacquired Rights* 6:55:45
Ill 20 on Contractual Pre Existing Relationship* 6:58:05 ABC Ltd.
Non Contractual Pre Existing Relationship - Recognise G/L @ Fair Value
>SBP Awards* 7:02:50 7:06:39
Ill 14 (d) 7:04:55 Professional Ltd. Dynamic Ltd.
>Measurement Period* 7:07:05 7:08:35 (Info thi market mein, bas hamein ab pata chala i.e. Facts and Circumstances existed at BS Date. 1 year MP allowed.

Step Acquisition* 7:09:06
Ill 11 7:09:37 7:11:48 7:12:50 On 1st April

Common Control BC* 7:15:05 7:17:27
8:12:10 8:19:14 Ill 38

Elements of Business 7:18:25 (I+P+O)

Concentration Test** 7:19:40
Q on Concentration Test 7:20:25 Entity A holds 20%

7:25:35 Q on Asset Acquisition*

7:27:42 Ill 40 Professional Ltd. Dynamic Ltd. (7:40:10 ALERT!!)

Reverse Acquisition
7:42:35 TYK Q2 On 31st December, 20X1

7:48:20 7:54:28 7:59:14 TYK Q12 H Ltd.

8:03:13 TYK Q Company X

[shivaraj-cnnc]

Financial Instruments 3:26

1. FA in detail-8:10
- Initial Measurement-8:47
- Subsequent Measurement-12:18
2. FL in detail-17:34
3. Equity in detail-20:37
4. Settlement of FL with Equity CONCEPT-22:33
5. Measurement of FA QN-27:50
6. Measurement of FA QN-29:30
7. Measurement of FA QN-31:54
8. Measurement of FL QN-34:35
9. Measurement of Equity and FL QN-38:41
10. Measurement of FL QN-43:17
11. Measurement of FA and FL QN-47:16
12. Measurement of FL QN-49:49
13. Measurement of FL QN-50:40
14. Derivatives CONCEPT-53:16
15. Derivatives QN-55:53
16. Embedded Derivatives CONCEPT-1:01:42
17. Embedded Derivatives-Foreign Currency QN-1:06:26
18. Strategic Debt Restructuring CONCEPT-1:11:38
19. Strategic Debt Restructuring QN-1:15:20
20. Others
- CONCEPT-1:20:58
- QN-1:22:26
- CONCEPT-1:25:23
- QN-1:29:04
21. Impairment of FA CONCEPT-1:32:23
22. Impairment of FA QN-1:38:28
23. Impairment (Financial Guarantee) QN-1:39:57
24. Hedge Accounting QN-1:45:05
25. Derecognition of FA CONCEPT-1:50:26
26. Securitisation QN-1:53:25


Ind AS 115 1:59:54
Ind AS 116 3:22:25
Ind AS 102 4:47:42
Ind AS 103 6:36:50
Ind AS 110 8:29:19
Analysis of FS 10:40:33

[yashjain]

3:11:11 service concession arrangement

[darshitgupta]

3.3K likes till now from 30K views... Concentration test meets
Thank you so much sir
❤

[gauravbhambore]

Financial Instruments
27:52 ill 25
29:30 Q1
31:55 ill 1
33:56 ill 2

[S________________________P]

ANALYSIS OF FINANCIAL STATEMENTS - COMPLETE TIME STAMPS :-

Questions (QB/Super 400)
10:41:05 (TYK Q5/406) Master Creator
10:53:36 (TYK Q6/Not in Super 400) HIM Ltd

[alongwithsharan]

Huge respect and thanks a lot sir may god always give you strength and good health

[S________________________P]

CONSOLIDATED FINANCIAL STATEMENTS - COMPLETE TIME STAMPS :-

Questions (QB/Super 400)
08:32:45 MEASUREMENT OF INCOME AND EXPENSES OF SUBSIDIARY

08:36:04 (Ill 19/131) A Ltd. acquired 70%

08:38:28 DIVIDEND RECEIVED FROM SUBSIDIARY
08:39:50 For Exam

08:42:10 DIVIDEND RECEIVED FROM ASSOCIATES [Equity Method]
08:42:53 (IND AS 28 Ill8/121) On the first day of a financial year
08:45:08 Crux of Dividend received from Associates (Jab jab asso kamaata hai tab tab hum apna inv in asso jo ki initially cost pe record kiya tha usey badhaate hain aur corresponding adjmt P/L ya OCI mein dete hain, but jab asso dividend dega tab hum P/L mein nahi daalenge, hum utne se apna inv kam kar denge)
JE - Dividend Recbl/Bank Dr. to Inv in Asso.

08:46:42 ELIMINATION OF INTRA GROUP TRANSACTIONS AND BALANCES

08:47:01 INTRA GROUP PROFITS (VVIMP)
08:49:30 JE
P/L Dr
To Inventory ❌
We have to adjust Revenue and COGS (Rev ko kam karenge aur COGS ko bhi kam karenge i.e Revenue Dr to COGS to Inventories). In short entry to usi logic se huyi that P/L to Inv, but P/L ki jagah Rev Dr and COGS Cr kar do bas ho gayi entry)
Revenue Dr
To COGS
To Inventory ✅
08:50:00 DTA/DTL Adjustment bhi hoga upar wale case mein as follows :
हमने तो हमारी Inventory को 20k से कम कर दिया इसलिए हमारी CA of Inv 1L ही बची, लेकिन सरकार की नजर में अभी भी वह 1.20L है, means CA of Inv (1L) < TB of Inv. Therefore DTA banega 20k pe.
In short : Jab bhi Unrealised Profit ko kam karenge tab, since hum profit kam kar rhe hain to uska hamein tax benefit milna chahiye but govt hamein wo tax benefit aaj nahi degi. That's why DTA create hoga.
JE -
DTA Dr
To P/L
08:51:42 (Ill 14 and 15/128 and 129) A parent owns 60%.
08:53:14 Crux of Ill 14 and 15 (Upstream transaction mein allocation b/w P and NCI ❌, but downstream transaction mein allocation b/w P and NCI ✅)
08:53:32 (Ill 18/130) A Ltd. (which is involved..)
08:55:47 Crux of Ill 18

08:56:56 CHANGE IN THE PROPORTION HELD BY CONTROLLING AND NON CONTROLLING INTEREST (VVVVIMP)
08:58:38 FULL G/W(FV METHOD=FULL G/W), PARTIAL G/W(PNA METHOD=PARTIAL G/W{i.e ONLY PARENT'S G/W})
[F=F AND P=P]
09:00:37, 09:00:44, 09:01:30, 09:01:58, 09:02:15, 09:02:40
[Jab bhi parent apna stake bechega to sabse pehle dekhenge ki NCI kaunse method se calculate kiya tha. Agar Full Goodwill Method se kiya tha ya phir WOS thi toh INA as well as Goodwill dono ka proportion NCI ko denge. NCI ko dena mtlb NCI ko badhaana mtlb NCI ko credit kar denge. But agar NCI PNA Method se calculate kiya tha i.e only Parent ka G/w tha to us case mein only INA ka proportion hi jayega NCI ko.]
Crux - WOS/Full G/w Method = {(INA+G/W)*stake sold %}
PNA Method = {(INA)*stake sold %}
Agar control lost nahi hota to JE ka balancing fig. Other Equity me jayega.
09:03:47 What if control is lost due to stake sale? Derecognise all earlier recognised balances i.e INA (Cr), G/w (Cr), NCI (Dr). And recognise the new rishta i.e Inv in Associates(given hogi value), stake sale se cash aaya hoga toh Debit the cash received and lastly Balancing fig will be trfd to P/L not Other Equity bcoz yahan control lost ho gaya hai.
09:06:15 (Ill 30/135) In March 20X1 a group (Imp)

09:12:40 (TYK Q13/152) On 1st April 2019, Investor Ltd. acquires 35%

09:15:45 (TYK Q11, 150) Airtel Telecommunications Ltd.
09:18:21, 09:19:55

09:20:57 (TYK Q5/145) Ram Ltd.
09:24:58, 09:25:20, 09:25:51, 09:27:17, 09:35:55, 09:36:47

09:43:20 CHAIN HOLDING
09:43:20 (Ill 29/134) P Ltd, S Ltd, SS Ltd **(Write it once)**

10:02:05 Do these Questions self. VV IMP.
(TYK 6, 7, 8/146, 147, 148) Blue Heavens
(TYK Q12/151) As at the beginning of its current financial year
(TYK Q14/153) On 1st April, 20X1

CFS OVER HERE!!

[UGCwithlav]

Thankyou sir, you do every possible thing to make it as easy to walkthrough this subject.

[rickashley]

THE GOAT !! THE SAVIOUR OF GROUP 1 🐐🐐
King kohli for cricket and king jagati for group 1 is unmatched 🐐🐐

[osykon]

Just completed, kya confidence aaya hai fr me ❤