IND AS 20, 21 Revision | CA Final FR | Government Grant, Foreign Exchange | By CA Ajay Agarwal AIR 1

Topics Coverage:
Ind AS 20 - Accounting for Government Grants and Disclosure for Government Assistance
Ind AS 21 - The Effects of Changes in Foreign Exchange Rates
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[@aasimbalbale756]

0:13 Ind AS 20 - Accounting for Government Grants and Disclosure for Government Assistance 6:13 Grant related to Asset 11:10 Ac for Monetary Grants 19:58 Ac for Non Monetary Grants 26:47 AC of Govt Grant Relatd to Income 31:26 Presntation of Govt Grant 35:30 Ac of Repayment of Govt Grant 40:12 Ac of Loan Recd from Govt at less than Market interest Rate 44:55 Ind AS 21 - The Effects of Changes in Foreign Exchange Rates 1:09:00 Ac for Foreign Currency Transaction 1:13:34 Subsequent Recognition of Foreign Currency Transaction 1:20:00 Non-Monetary Items NOTE:- 1:27:00 Amortisation Table 1:35:19 Inventory Purchased 1:37:30 Asset subject to impairment FOREIGN OPERATION 1:39:49 Meaning 1:42:51 Translation of FS 1:57:15 Intra Group Transactions 2:07:19 Translation of FS into presentation currency 2:08:35 Change in Functional Currency

[@Mystic_force]

Thanks

[@CA_GauravSingh]

Thanks bhai

[@rahulbaghel8824]

Thanks Bro

[@KunalJJwala]

1:30:00 Question

[@omprakashchoudhury4439]

Thank u

[@theajojohn-youtube]

0:13 Ind AS 20 - Accounting for Government Grants and Disclosure for Government Assistance 6:13 Grant related to Asset 11:10 Ac for Monetary Grants 19:58 Ac for Non Monetary Grants 26:47 AC of Govt Grant Relatd to Income 31:26 Presntation of Govt Grant 35:30 Ac of Repayment of Govt Grant 40:12 Ac of Loan Recd from Govt at less than Market interest Rate 44:55 Ind AS 21 - The Effects of Changes in Foreign Exchange Rates 1:09:00 Ac for Foreign Currency Transaction 1:13:34 Subsequent Recognition of Foreign Currency Transaction 1:20:00 Non-Monetary Items 1:27:00 Amortisation Table 1:35:19 Inventory Purchased 1:37:30 Asset subject to impairment 1:39:49 Meaning 1:42:51 Translation of FS 1:57:15 Intra Group Transactions 2:07:19 Translation of FS into presentation currency 2:08:35 Change in Functional Currency

[@vipulrana6372]

45:10 IND AS 21

[@akashc7739]

Bhaiya thanks

[@tanishqjain132]

2:00:17 CFS me exchange gain OCI me jaata hai agar SFS me bhi OCI me gaya tha tabhi 2:01:58 Exch. Gain of Perpetual loan will always go to OCI

[@yashjain958]

Thank you so much sir mujhe ind AS 21 mai badi problem aa rhi thi lakin ab sab smjh mai aagya Really great Video. Radhe Radhe Sir Ji

[@Sunny-barnwal]

Then how u did forex in sfm

[@aveekdas6343]

1:50:08 - FCTR ko OCI mai patak dete hai. Nice choice of words.

[@dhruvii1236]

1:24:00 fair value gain/loss and exch gain/loss treatment

[@financialreportingajayagra132]

NOTES 🎉 GG meaning - govt help /support Eg. Devlopment of backword area by govt grant by giving grant to company when they est. Factory 🏭 there 🎉 Recognising GG - reasonal assumption that 🔹Entity will comply condition of grant 🔹Grant will be received Grant for asset 🎉 accounting of GG(GG in cash / kind) 😊 GG IN CASH Option 1 Substrate GG from cost of asset Option 2 Grant for depriciable asset : record defered income & liablity and t/f to p&l(in ratio of depriciation) over the period of usefullifeof asset Grant for non-depriciable asset: ➖Conditional grant : record defered income & liablity and t/f to p&l(in ratio of depriciation) over the period of CONDITION UNCONDITIONAL : t/f grant amount to p&l directly 😊GG in KIND OPTION 1 record grant at nominal amount (amount paid to govt related to asset received in grant- 1₹) OPTION 2 Depriciable asset : asset at FV of asset received & Grant received is recorded as deferred income & t/f to p&l in ratio of depriciation Non-depriciable: ➖Conditional grant : record defered income & liablity and t/f to p&l(in ratio of depriciation) over the period of CONDITION UNCONDITIONAL : t/f grant amount to p&l directly ➖➖➖➖➖➖➖➖➖➖➖ Grant for income Accounting If expense is already incurred for which grant is received ➡️ record grant in p&l immediately Grant for future expenses ➡️ record DEFERED income & t/f it in ratio of estimated future expenses. ➖➖➖➖➖➖➖➖➖➖➖ Disclosure 31:00

[@aviii_paghadal]

Small Correction Ind As 21 notes.... 1:39:33 Recoverable amount < Carrying Amount Instead of Recoverable amount > Carrying Amount...

[@Boss-ji7dq]

Thank you, was searching for this comment

[@AmitSingh-gv7mg]

1:21:01 Revaluation Model of PPE 1:35:16 Inventory

[@Mercuriankid]

Thank you for doing so much for us Ajay Sir. You and Atul sir are blessing for us. Aapke wajeh se kitne logo ki life better hogai hai yr, forever indebted to your selflessness and dedication towards every ca aspirant. I pray the Shri Ram always protect and guide you, 🙏

[@bhagyashribapte517]

Thank you so much sir... Both of you are god's gift Upto 26:49 govt grant related to asset completed. Upto 44:56 govt grant ind as 20 completed Normal foreign currency ie prt1 transaction completed upto 1:39:54 And foreign operation starts at 1:39:54

[@hs7767]

00:00:12 IndAS-20 00:44:55 IndAS-21

[@Aivoice77]

sir hum bhatke hue CA students ke liye bht bada sahara ho aap ek ek word aapka FR smjhne ke liye moti ke samaan hain😇 Radhe Radhe🙏

[@nandinimittal3260]

Ab aaye na market mein asli revision videos ... ajay sir in, everyone's out 😂

[@ShubhamAggarwal-fr1rr]

1:08:25 Accounting of Indas 21 Relevant Indas starts from here

[@swarnimsingh3107]

VVI - 33:10 Presentation of Govt Grants - Current Liability and Non-Current Liability

[@variasonali3780]

Thank you so much Ajay ji for all the efforts you put in. Every time you start explaining any topic you begin it by saying "Kuch bhi nahi hai topic mein itna easy hai " that itself gets some burden off our heads. I had taken your class in past attempt but I had old recordings and old notes. But these revision lectures and updated notes make up for it. There is absolutely no difficulty in understanding any particular topic. You and Atul bhai both make your respective subjects so much easier by your revision videos. If it wasn't for your videos I don't know how I would even revise it all by myself. May Radha Krishna bless both you brothers with best of everything. Keep up the good work! Radhe radhe 🙏🌟

[@monishakhandelwal-yw2jb]

Shabdon mai nahi bol sakte, kitne grateful hai hum ye videos ke liye. Shri Krishna ka avatar hai aap hum ca students ke liye. Aapka bahut bahut dhyanwad.🙏🙏

[@dhruvagrawal3027]

Jaha Pana tusi Great ho tofa Kabul Karo! Always Respect to Ajay & Atul Sir🙌

[@parishbindal01]

0:12 IndAS-20 44:55 IndAS-21

[@shivanidubey7475]

He is the best teacher for FR in the country...the conceptual clarity he gave is so wholesome...thank you so much sir❤

[@pratik6342]

1:51:50 FCTR OCI Reclassificaion

[@palkiandmuskan2507]

👌👌Concept clarity at it's best♥️♥️

[@v.praveenkumar7842]

Accounting for foreign currency transactions 1:08:40

[@arnavlodh9775]

May you both brother live long. Salute to you Sir.

[@helloji-nz5yv]

I wanted to take a moment to express my heartfelt gratitude for the incredible revision video you uploaded today. Your dedication to helping your students is truly inspiring, and I am beyond thankful for your continuous support. The way you explained the complex topics of government grants and the effects of changes in forex rates was nothing short of remarkable. Your clarity, examples, and concise breakdown made these subjects much more approachable and understandable for me. As I prepare for my CA final exams, I am confident that your video will play a pivotal role in enhancing my understanding and performance. Your expertise and teaching style make all the difference, and I feel more equipped than ever to tackle these topics with confidence. Once again, thank you from the bottom of my heart for your unwavering commitment to your students' success. Your dedication is truly making a difference in our educational journey.

[@hasmukh_rajgor]

Radhe Radhe ❤

[@aayushipurohit461]

Thank you so much Ajay Sir for this exhaustive revision !! Can't thank you enough 🙏🙏

[@bikashsingh767]

1:24:36 non monetary item fair value agar oci main jaata hain toh exhange gain loss oci nhi toh vice versa

[@rohtashbaghel7244]

मेरे प्रिय गुरुवर, श्री अजय अग्रवाल को मेरा चरण स्पर्श, आपके इस क्लास के लिए आपका बहुत बहुत आभार

[@rohtashbaghel7244]

@@shaquebshaikh491 tu ........ Aise hi rota reh....I have qualified two years back.

[@shaquebshaikh491]

😂😂😂

[@suramabudhia287]

😂

[@sahilahmad1401]

45:10 - IND AS 21

[@dhwani4416]

Bhaiya ek suggestion hai - DO NOT USE PLASTIC WATER BOTTLE, it have various side effects it releases plastic into the system ...I hope you read this comment and implement asap Thank you so much for the amazing revision lecture series Lots of love and blessings 🙏🏻 RADHE RADHE 🚩❤

[@Student35928]

1:57:15 intra group trans

[@pratikbhardwaj1811]

Thanks a lot sir every word u say has relevance ❤️

[@happyjinsani517]

Thank you so much sir😍😍

[@CaAkash1]

बोलो वृंदावन बिहारी लाल की जय राधे राधे

[@tejaswadher]

Thank you sir for revision lecture...Radhe Radhe

[@RajshekarIengar]

Thank you so much Sir Radhe Radhe🙏

[@YogeshJoshi-o5z]

RADHE RADHE

[@rahultiwari5364]

You are great sir Becoz of you FR becomes so easy for me . Aapke is revision video ko dekhne ke baad saara question aasani se solve ho jaata hai sir. I again say great great.......sir ji 🙏🙏

[@ca_arjunmanoj9303]

Radhe Radhe Bhai❤🙏.. Doing so much for students, even though ur health is Not Fine🙏❤Thanks a lot Bhai❤🙏🙏

[@sakshi83492]

8:50 real revision and 27:31

[@creativebirds123]

Machinery 1:20:00

[@suramabudhia287]

Thank you so much for this wonderful video sir... Really helping me very much 🙏

[@alexismorales-s9j]

23:27 option 2 , grant receivable in kind

[@SureshKumar-ww6ib]

Thank you sir You are best teacher after seeing you market share,other teachers start advertisement like a vegitable seller with a difference that vegitable seller not show there customer reviews 😂😂

[@rushabhchawda5285]

Thank You so much ❤ Much needed Ind As 🔥

[@PankajSahu-zd4xn]

Radhe radhe shyam se milade 🙏🙏🚩🚩🙏🙏

[@madhavsharma6844]

Thank you very much from bottom of my heart ❤❤

[@awadheshanand3048]

you said if RA>CA then diff is impairment loss, but in example you said that if CA>RA then there will be impairment loss please rectify the correct.

[@yashkadam5286]

It is lower of both. Read carefully, it is correct in book

[@simrankaur6120]

@@yashkadam5286 but as per IND AS 36, if CA>RA then only the assets qualifies for impairment. It has been corrected in the latest version of the book.

[@mayankraj7326]

Radhe Radhe..!!!! Ind AS -20,21 swaha

[@sejaljain231]

Thankyou sir pure concepts bht ache se revise hogye

[@Mona1208-0]

Tysm sir 🙏

[@StudyCAfinalwithme]

Thanku so much sirrrrr

[@AnilParmar-ez2qv]

Ind AS 21 1:08:35

[@shanuagrawal6790]

1:27:00 loan

[@prerna72839]

Thank you so much sir!! Please upload the rest of the videos.

[@purvibhutra2732]

Thank you sir for your efforts and support to provide us with this revision lecture. 🙏 A very small request that it would be the biggest help if you will also provide us with revision lectures of all "C" Category chapters because ICAI is targeting all these chapters. Sorry for demanding a lot even though you are doing so much for us 🙏

[@pateldhruv711]

Radhe Radhe sir Ji 😊 Thank you so much sir 😊

[@1crazyguys]

Thankyou sir its really good help to us..

[@vidushikhandelwal4961]

1:39:33 sir you said if RA>CA then diff is impairment loss, but shouldn't it be the opposite, i.e. if CA>RA then there will be impairment as per Ind AS 36

[@SteezyNik-vc8fi]

Its a clerical mistake

[@rangolikiduniya3]

Sir non Monetary me, if que is silent , what will we assume ?? cost model or revaluation model ??

[@aditigehlot9525]

Thanks

[@shutark]

22:55 toh suppose networth calculate karne me asset include hi nahi hogi

[@ayushigoyal534]

45:01 ind as 21

[@dinesh1961]

1:50:08 The way he says "FCTR ko OCI me patak dete hai" 😂😂

[@vaibhavmittal1120]

radhe radhe sir

[@prerna72839]

44:58 Ind As 21

[@harshgumber3671]

Radhe Radhe

[@pratikshabhorade]

1:13:13 1:52:13

[@CaAkash1]

बोलो वृंदावन बिहारी लाल की जय 🧡🧡 राधे राधे 🎉🎉🙏🙏💛💛

[@TykronosKnoxx]

Inter ke students dekh sakte Hain kya is video ko?? Kyuki inter main AS 11 : Accounting for changes in foreign exchange rates AS 12 : Accounting for government grants Hain. Please reply

[@hiroto1203]

no

[@NehaPrajapati-gm4cs]

Thank you so much guruji ❤

[@VinayKumar-vi8hz]

Super super super... Perfect explanation ❤❤

[@nandinimittal3260]

26:45

[@poojahonrao9108]

Great explanation ❤

[@shubhmutha2142]

Thanks a tonn ❤❤

[@ns74894]

studied his AS from scratvh through this video wow

[@aayushishah7629]

Thank you so much sir Radhe Radhe

[@karimullashaik7092]

Thank you sir

[@ektajain3983]

Amazing 🎉❤

[@adarshshukla623]

Sir mast padate ap💯💯

[@Krishna.4321]

1:09:00

[@pr_gaming9980]

Sir, Can we watch the lecture simultaneously on both laptop and mobile and of we have started lectures on mobiles then afterwards want to start in laptop, we have to download it again or it will already be downloaded

[@rushabhshah8122]

Each device is different . So you will need to download it again.

[@Mystic_force]

Thank you sir 🤩

[@__MayankGupta]

1:31:25

[@umeshbudhlani2770]

Thanks sir for this amazing revision

[@youtubeshorts1157]

Nice explained Best Faculty for CA Final FR and SFM

[@ca7406]

❤❤❤

[@avanip8314]

After wasting time on other teachers short revision video.. Again came here at end for clarity

[@tanmay11chanana]

Hi, are these Revision videos good for conceptual understanding? I had taken class from PJ sir but lack confidence so could you pls tell

[@manishkukreja5505]

yes these are best

[@anshuuu99]

38:35

[@RAJENDRAKUMAR-gp2yd]

Sir, FR/SFM ka 50-60 din wala offer kab nikaloge Nov-2023 Ke liye, Last Attamp hai pls thoda jaldi nikaal do.

[@kameshwaritangirala8037]

Can we please have a revision video on ind as 41 sir. Please

[@Sharma27400]

Please Ind As 33 ka revision lecture upload kr dijiye 🙏

[@GaganSharma-j7o]

Jay Shree Ram!

[@mayavyas9364]

🙏🙏🙏🙏🙏🙏🙏🙏🙏

[@amaresh6620]

Thank you for your support 🙏❤ sir 🎉🙏🙏🙏💝👌

[@221pari]

Is it for Nov 2023

[@vishalmalara5344]

Yes

[@PinkiVerma-c8f]

Sir category B and C ke liye concept notes de do plz