Ind As 21 Revision | The effects of changes in Foreign Exchange Rates

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[@sravz]

1:20 starting 25:24 accounting for foreign currency transactions 52:03 eg 1 1:01:19 foreign operations 1:06:55 net investment in a foreign operation 1:18:41 intra group transactions 1:30:10 change in functional currency 1:36:03 disposal of foreign operations

[@AutoVirals]

1:17:10 summary of Net Investment (Net Investment = Debt given to Subsidiary, Return of which is not foreseeable.)

[@sushmitajoshi4111]

Hi Pratik, I am a CA. Came here for revision on Ind AS. I must say you have a way with teaching and explaining the double entry impact is cherry on top. Its interesting to watch your videos because it revises every concept we have learned since childhood. Keep it up! All the best for future :)

[@yashuudaasi172]

Pratik sir- Explaining every damn thing in detail even in revisionary videos..🥰 Also pratik sir- "Revisionary video me aur kitna umeed rhk skte ho aap itna umeed na kijiye to hi acha hai"!! 😎

[@CharteredAccountantNo.1]

Damn accurate 😂😂😂👌

[@deepthibsharma6313]

For my Referance- LDR IND AS 21- Applies only to transactions that occur in Foreign Currency!, Foreign Currency is any currency other than Functional Currency 7:14- IND AS 21 VS AS 11 8:03-Presentation Currency 9:01-Functional Currency 15:45-Determining Functional Currency 25:25-Accounting for Foreign Currency transactions 47:03-Definition of Monetry and Non Monetry 29:37- Example for monetary and Non monetary items(PPE) 39:33-Exch Diff(gain/loss) on re-measurement of MONETRY ITEMS-hits P&L 54:33-Exch diff (gain/loss) on re-measurement of MONETRY ITEMS-hits P&L-Exceptions to this 44:12-Inventory Example 50:26-Subsequent measurement 51:44-We remeasure only Monetry items at end of reporting Period and not non monetary items(Except those that require Fair value remeasurement) 52:01-Impairment Point 57:01- Fair value remeasurement happens and the gain on such reveal hits OCI, then exch diff of such an item also hits OCI (PPE), If gain/loss on fair val remeasurement hits P&L, then exch diff on such item also hits P&L 1:01:04- Net investment in FO 1:03:50- Test whether FO is integral part or not. (If integral then the Functional currency of parent/Holding is the functional currency of FO aswell) 1:10:05- Trade Rec/Trade payables can never form part of Net inv in FO 1:10:49-payable on demand Transaction with FO (is Intragroup always) -1:12:10 if such a transaction is not of nature of Net Inv in FO?- Exch diff>>>>> hits P&L If such a transaction is of the nature of Net Inv in FO?- 1) In Books of FO- Exch diff hits P&L 2) In Books of Parent a) Separate Fin Statements-Ech diff hits P&L b) Consolidated Fin Statement- Exch diff hits OCI, i.e OCI(Reclassifiable to PL on disposal) 1:18:44-Intragroup transactions knock off but the exch diff of such transactions don't knock off 1:19:25- Example for Net inv in FO 1:23:33- Rules for conversion of FO figures into Functional currency (ball fig hits OCI) 1:27:31-Rules for conversion of Functional currency into Presentation Currency (ball fig hits OCI) 1:30:10- Change in Functional Currency 1:33:44-Diff in Reporting dates of FO and parent 1:35:10- Disposal of FO (Full), gain on disposal hits PL 1:44:22-gain where partial disposals are also considered as full disposals 1:47:35- Partial Disposal of FO TYK Revision-kzbin.infosYxeTBKofIc?si=WVm7zuuPkOXbWTMj

[@blackback4588]

Sir I had passed grp 1 but still watching your notifications and happy to see you back Sher hai tu sher h

[@shwetaprajapati6897]

Sir happy to see you. can't express how happy..you are such saviour for CA students

[@knowledgekokhoji246]

Dear beloved sir so happy to see you back. Plz make one revision video on Ind as 20 "Government Grants". Thank you

[@MissChartered]

finallyyyyy legend is back..........

[@PinalLakhatariya.]

He is back but he is still not well...hole in his heart😓😓

[@kritkumar333]

@@PinalLakhatariya. OMG... very sad news..

[@pallavighag4343]

@@PinalLakhatariya. how do you know that?

[@siddhikudav5112]

Example 2 44:15 Net inv in foreign operation 1:06:56 Intra group Transactions 1:18:21 (not a case of Net inv in Forex) Example 3 related to abv 1:19:27 FCTR goes to OCI logic 1:25:49 Change in functional ccy (imp) 1:30:12

[@VikashKumar-sc4tf]

Nagar me dhindhora pitwa do Final walon se bolna PRATIK sir ne bulwaya hai... Institute/faculty jo book mile leke aa jao... FR me exemption dilane k liye PRATIK sir laut aaye hai ....

[@shubhamgiri6228]

Sir I had passed grp 1 but still watching your notifications and happy to see you back

[@yogeshpatle3039]

Concept Bahut Achchhe se samajh me aa jate h , Thank you Sir

[@Telugu_5515]

Sir I am CA now but i still watch your Revision Videos Frequently

[@breakerritik]

Sir you are so humble. Thank you so much for explaining in such clarity even in a revisionary video. Whenever I get stuck, I find you on youtube. Mag god give you great health and happiness.

[@amanpatwari478]

Sir the way you say Uska v Revision video hai youtube par..🔥❤️😅 You're a real Gem 💎

[@srisudarsan2049]

you are such a great person to provide in depth clarity and that too for freee....Love you sir

[@ayushiagarwal7420]

Thank you sir aaj apka ye video dekha toh pta chla ki jis teacher se pehle classes li thi (Praveen Jindal) unhone bahot sare concepts padhaye hi nhi the

[@abhinav3834]

Good to see you back sir !!! Hope you are doing fine now ❤️

[@l1729]

Har ek ques jismai doubt aata h... aapne uski video daal rakhi h ... cant thank u enough 😭😭 Thank you sir You are Awesome ! You ll soon be on TOP . 💓💓💓💓💓

[@mrchubhak]

Best video on foreign exchange❤❤❤ love from nepal

[@prernalone6393]

King is back🔥 Sir samaj nahi aata exams hummare hote hai or hummse jyada mehnat aap karte ho sir maine kabhi bhi kisiko etna effortlessly help karte huye nahi dekha hai jitna aap karte ho... And Sir aapki vajah se bahot students CA bane hai or aabhi aage bhi bahot banenge kyu ki hummare pass aap ho Toh Sir please jaise aap humm sabka khayal rakte ho waise khud ka bhi rakha karo or hummesha healthy wealthy khush raho 😊 And thank you word bahot chota hai appreciate karne ke liye still thank you sooo much sir😊

[@saurabhgoyal6058]

Bilkul sahi Pratik sir is a great 👍

[@sonalagrawal7850]

Savior is back😊 Happy to see you back sir. Hope you are better now.

[@basavaraju1940]

I have been waiting for ur videos like a farmar waits for the rainy day for his crop....... Finally u r here

[@Anjali_agrawal_]

Sir, How are you very happy to see you back ,Just take a moment and appreciate and kudos to the effort of this great human , wish u a healthy wealthy life 😊

[@ca_arjunmanoj9303]

Thank You Sir for your Hardwork towards students ❤️🙏

[@hardikjain5613]

😮😊

[@HeadsUpTV]

The God for CA Final students

[@meditationmusic4738]

Our saviour is back Good to see u back sir ❤️🙏

[@mydocsvk551]

Disposal of forign operation 01:36:00

[@deepadaivadnya2032]

Thank you sir for explaining this chapter so meaningful😊

[@whatsinyourplate]

Thank you sir for coming back 👍 .... Plz continue to take care of your health also 🙏

[@sangamsingh96]

Thanks a lot sir for this video. I was never able to understand this ind as concept. Ur revison video cleared my concept...

[@unknownuserid2401]

Thank You Sir for explaining concepts in detail even in less time.

[@tejaswiniy4981]

22:39 indicators revision 1:14:49 intra grp tns in CFS

[@tejaswiniy4981]

1:52:29 disposal

[@lokeshsanavaram9156]

Legend for CA final FR.. Good to see u back sir

[@ashagrewal9275]

If I had power...i give million billions like.. ..superman come back....nice to see you back sir

[@Pavitra01]

Wow !! my favorite teacher is backk.. Welcome sir. sending all good vibes to you...

[@nehagoel3208]

Mind-blowing 🔥 Thank you sir 🙏

[@nishujain9490]

Sir increase ads in the videos, Earn from KZbin, coz it's more then worth it, after spending thousands could not get the level of clarity we get watching your video.

[@CaMohitsaini]

Happy to see you sir❤ hope you are fine sir❤

[@dishantgirdhar2248]

One stop for all solutions...............

[@vasundharareddy5022]

Was eagerly waiting for your revision videos Sir. Hope you are doing well sir. Can you please do SFM Portfolio management also.

[@nehasharma2972]

Thank you sir. You are a life saver

[@primetrading5657]

In your example for full disposal of F.O, there is a mistake.....You have derecognised Rs 8000 pertaining to NCI while calculating gain on disposal, Only 125000 should be derecognised.....See Institute S.M TQK question 1

[@salonisahu4572]

Thank you for all your efforts sir💯🙌❤️

[@jaisharma5671]

I took class from Praveen sharma sir,Pura paisa Barbad ho gaya😢 ,very very thanks for these revision videos.

[@arpitabaid9099]

Same

[@pratik6342]

Why? He is equally good

[@vinitkeshwani2314]

Thank you for revision sir 💯❤️💯...and hope your health is in good condition now🍻

[@yugalmehta6903]

Words can't describe how much I am thankful to you.

[@meghakansal1744]

Nice to see you back sir . Take care of your health😀

[@sankalpsingh2542]

1:01:11 Net investment in foreign operation

[@puneetmiddha2217]

Thank you so much sir ❣️

[@azvikhalid9370]

So happy to see you back Sir.😇😇

[@meghabhat619]

Nice to see you back sir😃 .. Hope now your health is recovered

[@sakshi4097]

Get well soon Sir ❤️

[@tejbeerjain1837]

Isse best Ind As 21 nahi ho sakta itne short time main Thank you sir for better understanding I wish aap ki health phele jesi ho jaaye Thanks a lot 😊

[@Namasteji100]

Thank you King 👑 🙏🏻

[@gauraveechheda9536]

Thank you soo much Sir🙏😊

[@mini_sharma_]

How to find out which is the entity's functional currency: 24:04

[@nitinpathak2771]

start with primary then secondary

[@adithyagondala]

King is back ❤ Hope u r doing well sir

[@sakshimittal8082]

Thank you sir for such conceptual clarity.

[@mrperfectforyou]

Abhi main Yahi Ind As revision karne jaa rha tha or apka Notification aa gya.. How cool ❤️

[@ca_vinit_ojha]

finally legend is back

[@saibeta8658]

Thanku sir 😊😊😊 a nice and easy made understanding of ind as

[@dream11guruji27]

1:10:00 net investment in foreign operations

[@ujjwalabattu3568]

Good to see you back sir 😊

[@divyadoltani6160]

Happy to see you sir❤

[@juhichugh7815]

Welcome back sir.. shivji bless u💫

[@BMKS74]

Thankyou soo much PJ sir

[@yeshchaudhary1353]

Sir aap bilkul thik ho jayegee

[@suhailshaikh3425]

Legend is backkkkk 👍👍👍

[@camansitibrewal]

Thank you Sir for being back!

[@gehlotpavan7622]

Happy to see u back Sirji😇.

[@CA.PrashantChauhan]

In Decomposition Gain of 750k Sir u did right at first when it came 700k & modified wrongly 50k difference was due to depreciation charged earlier

[@Swatisingh-rm8ov]

I feel relax when I watch your video

[@CAshrutisingh]

Reallllllly amazing.... Thank you🙏

[@khush8806]

Thank u so so much sir. . And thx to come back sir

[@AnkitSingh-kb9dl]

01:01:00 Foreign Operations

[@ayushmantibrewal1347]

Great to have you back sir !

[@magicalcommerce7782]

Thank u sir for coming back we are waited for u

[@kishu4601]

Thank you Sir🙏

[@raminenisridivya230]

How is your health sir? Finally very happy to see you in you tube, I hope you are recovered

[@shyamalkumar2568]

Dekho woh aa gaya ❤️

[@lalitmour1426]

Good to see u back sir👏👍👍

[@pgeducators4174]

Good to see you back sir !!!

[@daljitkaur3091]

3 mhene purana sadda hua B/S 😂😂😂👍

[@shaloofdbz8861]

Sooo happy too see you back sir 🤩🤩🤩🤩

[@raghavsharma8354]

Great sir , very helpful 😊

[@Karthik-zk7wr]

The king is back 👑❤️

[@123453847]

Woww U back sir. I hope you are fine now.😀

[@shubhambhargava8628]

Hello sir ....great to see you....

[@vaishnavi9319]

Sir aap nahi hote to FR ka volume dekhke maine abhi tak CA skip kiya hota.. thanks sir

[@raksha4230]

Happy to see you back sir🐱

[@FinalShotCA]

So good to see u back sir❤.how are u now?

[@snvgoutam1408]

Welcome back sir😊🙏🙏♥️

[@mannpatel2233]

Sir here ,wait is over 🙌

[@dipak_palodkar]

Thank You to back again sir 🙏

[@boysloveofficialchannel4349]

Hes called legend for a reason

[@gulabijaat2964]

Operation in FO 1:07:00

[@TheSwati888]

❤❤ Thanks alot sir.

[@prabhurama7170]

IND AS 21 does not uses the word Integral and non integral foreign operations like AS 11. But based on functional currncey of reporting entity in India, can the foreign operations be still held to be integral and the resultant forex gain and loss arising out of transaltion of foreign operations be routed through profit and loss account without creating Forex Translation Reserve?

[@mamtamakhija8268]

Thank you 🙏🙏