IND AS 115 Revision | CA Final FR | Revenue from Contracts with Customers | By CA Ajay Agarwal AIR 1

Topics Coverage:
Ind AS 115 - Revenue from Contracts with Customers
FOR REGULAR FULL COURSE OF FR, Visit our website air1ca.com
Our Telegram Channel for Free Notes, Guidance & MOCK TEST SERIES -
AIR1CA Guidance & Notes - By Atul & Ajay Agarwal (AIR 1)
Link to join - telegram.me/air1ca
Our Website for CLASSES, TEST SERIES, QUESTION BANK & NOTES -
air1ca.com
Our KZbin Channel for Detailed STRATEGY -
/ @atulagarwal
Subscribe our Channel @Atul Agarwal

[@shreyaswalzade]

Time stamps : 00:01 intro 09:45 step 1 21:29 step 2 38:33 step 3 transaction price 01:35:00 step 4 allocation of tp 01:46:53 step 5 02:05:29 special case 1 sale with ri8 of return 02:08:23 sp2 accounting of warrenty 02:11:11 sp3 renewal option 02:15:32 sp4 discount voucher 02:18:22 sp5 loyalty points 02:23:21 sp6 modifications 02:26:20 sp7 combination 02:27:02 sp8 principal agent 02:27:56 sp9 consignment 02:29:25 sp10 bill & hold 02:31:35 sp11 service concession 02:37:20 sp12 repurchase agreement 02:44:25 sp13 contract cost

[@harshgandhi6154]

Thank you so muchh

[@soumyasivanandan2876]

Grt effort.. thanku

[@pawrimal]

Thanks man

[@jevyaPanjwani]

Helpful

[@aayushiagarwal6554]

Thank u so much for this time slots , very helpful

[@ca_rohitbajaj]

Time stamps : 00:01 intro 09:45 step 1 Identify Contract 21:29 step 2 Identify Performance Obligation 38:33 step 3 Determine the Transaction price -Non-cash consideration 1:00:20 (adj. in TP) -Significant Financing component 1:16:34 (adj. in TP) -Non Significant Financing component 1:31:55 (Not adj. in TP) 1:35:00 step 4 Allocating the TP to P.O 1:46:53 step 5 Recognise revenue as & when entity satisfies the PO Special cases: 2:05:29 sp 1 sale with ri8 of return 2:08:23 sp2 accounting of warranty (step-3 part) 2:11:11 sp3 renewal option 2:15:32 sp4 discount voucher 2:18:22 sp5 loyalty points 2:23:21 sp6 contract modifications (step-1 part) 2:26:20 sp7 combining contracts (step-1 part)-vvimp 2:27:02 sp8 Principal vs Agent Consideration (step-2 part) 2:27:56 sp9 consignment Arrangement (step-2 part) 2:29:25 sp10 bill & hold 2:31:35 sp11 service concession 2:37:20 sp12 repurchase agreement 2:44:25 sp13 contract cost LDR QNS MRP 1 kzbin.info/www/bejne/i6rTmIttm9d_rLM. Loyalty points

[@Nivedita2705]

Thank you 🎉🎉

[@PuneetKumar-gh9go]

Guys i am qualified chartered accountant only because of Agarwal brothers

[@abhishekmeel9999]

Never seen a bad comment on this channel. This shows the actual worth of what these two brothers are offering to CA students. Love from Rajasthan ❤

[@Mystic_force]

9:27 - Identifying contract with customer(irrelevant for exam) 30:00 - Significant reversal of revenue in future 1:03:58 - Transaction price need to be adjusted 1:13:08 - if paymenr is for distinct goods or services received from the customer. 1:16:32 - Effect of significabt financi g component 1:09:30 If payment is for distinct goods or services received from customer 1:55:40 -Input method 2:05:28 - right of return 2:10:46 - contract renewal option at low price

[@cashwetaghumnani7818]

Used to watch your lectures for clearing exams, now watching for interview 🥰

[@sangeetakumawat3561]

Same here

[@nareshnayak5033]

Same here😀

[@devyaniswaroop1214]

Same here 😁😁

[@pujajha4878]

Same here

[@FindingFactsOfficial]

I want to say the same

[@Rish_hsome1417]

I was here in May 2022 as an Aspirant!! Now watching this for Interview!! Thankyou Sir for Your QB, Revision Videos and Notes. All the best to Everyone!

[@muskansiddiqui4560]

Congratulations 🎉

[@bhagyashreemukut9813]

Most of all it is important for a teacher to convince students that things are easy and the way he say it first and then explain it in the easiest way possible truly makes a mark... Thank you so much😊.. Have watched many revision videos but this the first comment after listening for 2mins🥰

[@__chaitanya7]

Those words "kuch nhi hai yeh, aaramse ho jayega" and then those explanations for every concept, Thank you so much Sir.

[@adwt9722]

What you provide for free revision, most so called famous teachers do not even cover in their paid classes with this much clarity and ease. Thank you sir

[@kshitijarora4121]

Thanks! I have not seen Any faculty dedicated for helping even non coaching students as well

[@rajendramohapatra3143]

Really better than so called renowned teachers full time lecture. It is my personal experience. They make the topic like rocket science🚀🔬.. U can't able to connect with them..

[@pravallikas.r2179]

Passed exams with these lectures now preparing for interview.. you are amazing sir !

[@hardiklalwala7466]

Sir, you made IND AS 115 very easy by providing this revision video. All concepts are now clear. Hats off to your dedication. Radhe Radhe.

[@subhamganguly4417]

My kind of people....who takes CA just as a course not as a super tough one...u both are gems..hatsoff

[@Relax_singh]

he do not care about money. just focusing on real stuff. Making things easy. Pure hardwork.

[@rohitmantri2324]

He is like sunil narine... Doesn't give much reaction on the perfection, just keep on doing the work Superb lecture sir🙏👍

[@anonymousperson5310]

This is some serious Premium Quality Teaching. I bet no other got such great indepth understanding of concepts than this duo✨

[@joeeee162]

pratik jagati sir is better in my opinion..his teaching is the best for me

[@mahikajain3339]

I watched your lectures for exam preparation and now watching it for interview prep,the way Ajay sir explained everything in detail, my fear for ind as 115 has gone, i can't thank you enough

[@prembhai300]

CA final ke baad interview bhi hota h??

[@jijachad5090]

Here for interview preps after clearing May'23 exams, Thank you for being a part of my journey sir. It would've been so incomplete without you.

[@RV110_]

Hey do you know what kind of questions could be asked by big 4 from Ind AS 115?

[@jijachad5090]

@@RV110_ Nah

[@divyasharma9580]

Lift ka revenue kb record hoga

[@devvratsinghshekhawat7593]

@@divyasharma9580 lol

[@SanjayKumar-il1hn]

Superr..... Main exam k 3 din pehle ye video dekh raha hoon.... Ab mujhe 115 me koi bhi confusion nahi h.... Maine sirr se classes bhi nahi li hai... Highly recommend video

[@Nirmasoni247]

Now you ca?

[@muskaangarg9670]

8:29 five steps model 10:02 irrelevant for exam pov 16:02 deposit liab gunda eg 22:05 step 2 PO 39:14 step 3 txn price 52:08 most likely amt method (2 outcome) 54:40 VC not inc in TP 57:40 reestimate VC 1:00:19 non cash txn 1:04:20 adj in TP 1:16:39 financing component 1:35:00 Allocation TP in PO 1:47:04 Recognition of revenue 2:05:29 special case 2:31:47 service concessions arrangement

[@tejaslabhasetwar4727]

00:02 Understanding revenue recognition and accounting entries for customer contracts. 03:02 Recording revenue based on transfer of control 09:21 Recognize revenue when control is transferred and business is conducted 12:16 Revenue recognition in IND AS 115 21:41 Revenue recognition under IND AS 115 24:26 Understanding the different takes on revenue recognition and contracts with customers. 29:45 Customer Philosophy and Revenue Recognition 33:32 The steps to record revenue are important 41:43 Understanding revenue recognition under IND AS 115 45:40 Difficulty faced by general in practice 53:44 Understanding revenue from contracts with customers in CA Final FR. 57:21 The video discusses the revision of IND AS 115 for Revenue from Contracts with Customers. 1:05:29 The video discusses revenue recognition under IND AS 115. 1:10:16 The video discusses revenue recognition under IND AS 115. 1:16:58 Revenue from Contracts with Customers is a crucial topic in CA Final FR. 1:20:09 The process of removing something is called 1:30:13 The correct interpretation topic of revenue from contracts with customers. 1:34:22 Revenue recognition under IND AS 115 is based on the duration of the contract. 1:43:14 Revenue accounting for different products 1:46:01 Revenue recognition process and timing in IND AS 115 1:53:08 Understanding revenue recognition under IND AS 115 1:56:31 Be careful while posting in Numerator and Denominator 2:04:37 The video talks about the revision of IND AS 115 and revenue recognition in CA Final FR. 2:08:00 Revenue recognition in IND AS 115 2:14:16 Total number of customers is important for revenue tracking. 2:17:13 Revenue recognition is based on contract terms and discounts 2:22:04 Understand the concept of loyalty points and liability booking 2:24:42 Recording revenue and its impact on subscription and modifications 2:31:26 Subscribe to the channel for updates on IND AS 115 Revision 2:35:21 Revenue recognition in IND AS 115 2:43:59 Revenue recognition under IND AS 115 2:47:58 The video discusses revenue recognition standards under IND AS

[@earningliesinlearning3425]

M super impressed...really appreciate your effort...people charge a lot for this type of tutorial...this is not just useful for student but also for working professionals...hats off guys

[@ronakkyada16]

On today's modern world inly few people attached with our roots and ajay and atul sir are one of them awesome teaching sir.

[@AB-ou7pd]

1:53:07 Progress 2:08:20 warranty 2:18:22 loyalty

[@CAAkshayMantri]

Understood all the concepts in one stroke. Thank you sir, Radhe Radhe

[@niket...8453]

I Suggest every student trust him blindly. He is genius, bcz of him I am CA Aniket today ❤ #Agrawal Brothers...❤

[@imonikaagrawal]

Though watching this without taking your class, still did not get the feeling that i missed something, as u covered all the topics so well🙌🏻

[@anshikagupta8125]

Please add revision videos of other IND AS also, they are really very very helpful sir, questions were solved at single stroke... Thank you so much sir

[@gauravwadhwa98]

Very good explanation of Ind As 115 in very easy manner. I recall the IndAs Questions from your examples which I had done from Parveen Sharma Sir book. Very clear communication and comparison with 11 class is essential and best part of your lecture.

[@Anandkumar-dp3uu]

Throughout the standard, BB is so aggressive! So convincing examples. Thank you sir jee🙏

[@harshpadia5577]

Sir i feel fear when i study this ind as but after your wonderful lacture i feel fearless. Thank you very much sir for such wonderful gift. 👌👌 Radhe radhe

[@anupriya_kushwah]

Every time when I watch ur classes or videos my mind repeatedly says:-) Ye kitna awasome h yaar😅😎

[@bhushansurani1822]

Your teaching style is Great sir, bahut jaldi se samaj aa jata hain, Most important thing is confidence which I get from your revision lectures 🙏🙏👍🏻

[@ashishgarg1437]

Please keep on adding more FR revision videos, its very helpful for us.

[@Anjali-Anjie]

Literally god for me .. i just had a major operation and have to cover the entire group 1 syllabus in 2 months.. thanks for these lectures .. i hope i clear this time with your guidance and support . Har har mahadev ! 🙏🏼

[@pratikchowdhury7605]

Hey feel sorry to hear that ...m in almost the same situation that of yours just wanted to ask were these lectures enough to pass?

[@shashwattripathi7681]

Now I want to ask you the same question, are these revision videos enough to crack the FR exam? ​@@pratikchowdhury7605

[@ABHISHEKKUMAR-zv5iy]

I am Old course student. Your revision videos is very helpful to understand the concepts of Ind AS. Thank you very much.

[@agrawalrocks4725]

Thank you so much sir!! Happy Guru Purnima🙏

[@krishna-ie4gg]

Sir, Can you please provide updated notes of FR.

[@MandeepSingh-gk1yc]

You Revision Videos are just amazing. It made IND AS 115 very Easy. Thank you So much.

[@mukeshgupta9226]

Sir explained Contract cost in last 4 minute asked in exam of nov23 for 5 marks ... do not ignore a single line of his notes

[@vikashsahu5998]

Superb explanation 👌 Even regular class is not watched this revision lecture is more than sufficient. All the lectures are well explained and it helped me a lot during last moment and this chapter Ind AS 115 never watched any lecture/read and this was my my firsrt time and catched up very quickly. I appreciate your efforts.

[@aayushsaboo5294]

No doubt, your revision are just awesome..... Thank youu....for such revision lectures

[@niagaraphopho14]

Radhe radhe sir 🙏 Thank you so much from the bottom of my heart. Forever grateful 😊

[@sandhyagupta8576]

these notes are different from the one provided on website...and it is really difficult to refer them

[@shivamkansal3869]

Great lecture ajay sir....it was very helpful in having conceptual clarity. Kisi bhi layman ko bhi samajh mein aa jaayega ab yeh toh.

[@pallaviarora1637]

You make every topic very easily understandable..Greatful..

[@vishal5036]

High level content wala revision video hai...maan'na padega sir...Hats Off

[@mt.loverest]

PRABHU KRIPA SAB PE BARASTI RAHE---AISE APP LECTURES NIKALTEY RAHOO-----AUR HUM SAB KA KALYAN HOTA RAHE--BOLO RADHEY RADHEY

[@shrisanidhya]

Thank you so much, Sir! 🙏 Kindly upload others as well.

[@mt.loverest]

I HAVE TAKEN LECTURE WITH VARIOUS FACULTIES, BUT THE CONCEPT WITH CONFIDENCE TO END IT ON EXAM DATE GOT ONLY EITH YOUR NOTES AND LECTURE......RADHEY RADHEY

[@mithusirra3461]

Earlier done this Ind AS for exams , now for interview preparation. Thanku sir for notes, revision videos.

[@RajshekarIengar]

Thank you so much Ajay ji Radhe Radhe🙏

[@prabhjotsingh-hz1fe]

apka dill se dhayawad apne bht behatar tareeke se sabhi cheeze bataayie ............... again thank you so much

[@jhanwar4382]

Because of your Free lecture I got exemption in FR and Clear CA Final and after completing CA I am also watching your lecture for interview 👍👍

[@hinalsudani1390]

Sir, you made very easy to study this IND as...thank a lot

[@ST2401]

This chapter is so hyped by other professors, but after watching your revison lecture, i could easily solve all the QB questions, RTPs and past question papers ! You are wonderful Sir :)

[@tejasdhumal9018]

WOW Watched this revision lecs during exam days and now I'm qualified CA watching it for Interview!!

[@coolsun6]

Superb teaching with conceptual clarity. Thanks.

[@okiedokie1266]

Thank you so much. Waiting for all remaining Ind As revision

[@the_abhisharma]

Dhanewad sir Radhe Radhe Jai Khatu Shyamji💛

[@manaviverma4318]

Very helpful.. explained in simple easy manner.. thankyou so much🙏

[@somnth6523]

I really owe you for your contribution. Love you sir💖💖 full credit to you sir.

[@user-in3ji7hy7q]

Thanks for your contribution. Now I'm CA🖤

[@shreyasaraswat595]

Thank you ❤️ Radhey radhey 🙏🏻

[@saloni495]

Sir, do we also require to write theory and big explanations as given in module(in some cases).... Or only numerical answer will be enough?

[@shilpamandal3534]

Sir you are BLESSING for US Thank you so much Sir 🥰

[@mananjain303]

So much clarity in a revision video. Blessed to be your student sir.

[@rahulchourasia5739]

Where can we get the above revision videos notes?

[@rajeshsharma-ce4om]

I RECENTLY COMPLETE THIS REVISION LECTURE, IT IS VERY HELPFUL.

[@deepakkhetan3111]

Do u have Ind As 115 Notes?

[@vaishnavichalikwar1654]

@@deepakkhetan3111 Its on telegram channel and also avaliable in free resources section on AIR1 website

[@shivsanketsubudhi3853]

Where are the revision videos for the remaining Ind As?

[@najirkhan94]

Class lecture main to clear nahin ho paya tha maine skip kar diya tha but revision main Saara samajh Aa Gaya.... Wow Thank you Ajay sir

[@yashparikh3884]

Great Teacher without attitude. Thanks

[@N0_cape]

Yes vyakti!!

[@RSSthoughts]

Thank you 😊 Radhe Radhe

[@pragyagupta519]

best revision videos, regular class +revision videos key for qualifying ca, thank you ajay sir for providing best guidance for becoming ca

[@rbg9177]

Thankyou so much sir for the amazing lecture ❤️🙏 really really helpful 🙏🔥 Radhe Radhe 🙏

[@sakethkrishna148]

2:04:41 cumulative catch up -cost and WIP 55:02 variable consideration not included in tr. Price 57:55 change in VC on cumulative catch up basis 1:03:35 inclusion of non cash cons. given by customer

[@deepareddy4405]

Hi I want Ind as 115 PDF I checked in telegram page but didn’t find Can anyone help me to get this?

[@mrthakur5592]

Fully comprehensive revision lecture👍👍

[@bavadharani7307]

Words are not enough to express my thankfulnesss... Thankuuu sooooo much bro... U made our FR and SFM travel a cake walk. I was in thought of leaving this IND AS, but i came through ur videos and just wanted to have a view.. But u beautifully connected everything especiallly ur notes it worth cant be measured. Surely ur notes going to lower the time of revision during the previous day of Exam. Iam a non-hindi student. So i feared a little how a hindi class going to workout for me. But u with ur expression and words I just used to it... Iam able to get the crux of the concept. Once again Thankuuuu so much Bro. Let the lord krishna give more power to u..... Thank u so so soooooo much Bro.

[@vaidehidatta7368]

Sir pls upload fr and scmpe full videos..Your classes are very very useful.Radhe Radhe

[@xtremegaming4796]

Amazing revision session fully worth giving time , Sare concepts clear ho gaye

[@sandeepkumarpillanam]

Radhe Radhe ...thank you

[@sumanyadav1779]

Thankq sir plz upload revision lecture of all other IND AS

[@subratnanda6933]

Sir please upload FR remaining revision lectures.. For amalgamation and consolidation🙏🙏

[@PuneetKumar-gh9go]

Ajay bhaiya ki revision videos, toh baki teacher ki regular batch par bhari pad jati h

[@jatinmodi9200]

Work very dedicatly even as teacher

[@Sandeep.Tripathi21]

Thank you sir.❤️ Revision videos very helpful to me. To the point exam oriented 👌

[@LoveLyrics616]

Thank you ✨ Radhe Radhe ❤️

[@budumaaakash8209]

Why am i not able to download from class notes from site. Its showing as not available

[@krishnabhandari5397]

Superbbb lectures, when we get remaining lectures... pls upload asap

[@CAsheetal07]

Thank you sir 💓💓💓

[@ramyarams3051]

Sir iam following all your revision videos kindly please upload ...other revision as early as possible please sir

[@ujjwalshrivastav7618]

After watching your video... All concepts understood now n able to solve questions.

[@sarojacharya2162]

Loved this revision video but from where I can get this revision pdf

[@anuraggarg9849]

ekdm bdya smjhaya. khud ko smjhana or dusro ko smjhana isme bht frk h. and u made the difference very less. i hope u understand the level of appreciation

[@_Priyankaaa_]

Are you now able to solve questions on your own after watching jzt this lecture??

[@namankumargupta3362]

When the results were declared of nov 2021ca final

[@omsrg8463]

Thanks a ton for the video sir it was really really helpful ❤🙏🙏 Radhe Radhe🙏

[@RadheRadhe-ie8en]

Thank you so much sir for your efforts ❤ Radhe Radhe ❤️🙏🙏

[@IshuSunderka-kj5mx]

Hi, Suppose, I am charging customer with interest for credit period and since it is within one year so I am not showing it separately. Now I have a contract with customer that if consideration is paid before credit period, customer will get back the interest charged. So in this case what should be the treatment? Should it be charged to expense or reduced from revenue?