ITA Lecture 07 Part D

HM RANA UMAR FAROOQ  The best teacher of CMA USA

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00:00How much assets does a company have?

00:05A company which has more land, more buildings, more plant and machinery,

00:11who does the production?

00:13Plant and machinery.

00:14If a company has a big plant and machinery,

00:18if it has a financial status, it means it has production capacity

00:22and it can produce it and earn revenue.

00:27About the assets of a company, about its liabilities,

00:32and who has the money in the assets of this company?

00:36Do the lenders have money? Do the shareholders have money?

00:39Do the owners have money?

00:41What is the capital of the owner's money?

00:43What is the money of the non-owners?

00:44Liability.

00:46What is the income of this company?

00:49What are the expenses of this company?

00:51Property.

00:52And if we minus the expenses in the income,

00:54where will the profit go?

00:56How is the cash flow?

01:00Where did the cash come from? Where did it go?

01:03All these details are stated in the cash flow statement.

01:06For example, you have three things in the statement of financial position.

01:13We will discuss this in detail later.

01:15Assets are there in this.

01:17Which asset do we have?

01:19Who is it?

01:23Is it a girl or a boy?

01:25Is it a boy?

01:27If it is a boy, then you have to take care that it is not a boy.

01:34I called myself a boy and made myself happy.

01:38We too are sometimes a boy.

01:41Now we have become old.

01:44Oh, youth!

01:49Let's move on, friends.

01:52If you want to see others from home, then let me see.

01:55Or do you want to see someone else?

01:57Let me see.

01:59Let me see.

02:00Let me see the moustache Mohanji.

02:02I was going on the motorcycle.

02:04He was a very humble Mohanji.

02:06This white beard, this clean moustache,

02:08a moustache on the head.

02:09He was a very pious man.

02:11Now I have also become old.

02:12He has also become old.

02:13I said, you should pray.

02:15He said, no.

02:16Today we will pray with a moustache Mohanji.

02:20So he moved me forward.

02:22I have known him since then.

02:24Moustache Mohanji.

02:26I had just gone.

02:28My head was bare.

02:30I got back on the motorcycle.

02:32Those people were praying.

02:34I said, whoever comes, I will invite him to the Jamaat.

02:38Let's pray with the Jamaat.

02:40There were two persons.

02:42The first person who came,

02:44he had an officer on the motorcycle.

02:46He was wearing a badge.

02:48I said, should I invite him to the Jamaat?

02:50He said, yes.

02:52In a few minutes, a proper Mualvi came.

02:54He had a moustache, beard, moustache on his head.

02:56He was a very pious man.

02:58I told him to come.

03:00He said, are you the officer?

03:02I said, no, you are the Mualvi.

03:04I said, okay.

03:08Whenever you go,

03:10even if there are two people,

03:12even if you are in a hostel,

03:14it is not necessary to be a Mualvi.

03:16Do you go to the Mualvi class?

03:18Once, in a village,

03:20a lot of people were waiting for the Mualvi to come.

03:22If the Mualvi comes,

03:24we will invite him to the Jamaat.

03:26A Mualvi was passing by.

03:28It was Mualvi time.

03:30He was offering Fajr prayer.

03:32He said, you are offering Fajr prayer.

03:34I said, yes, I do.

03:36He started recitation of Fajr.

03:38He recited Khulwala.

03:40He recited Allahu Akbar.

03:42He recited Khulwala in the second one as well.

03:44Everyone was worried.

03:46What kind of a Mualvi was he?

03:48He recited one Surah and left.

03:50In Fajr, our Mualvi recited so many Surahs.

03:52This Namaz,

03:54when he will go to the city,

03:56he will say something.

03:58When he went to the biggest

04:00Madrasa in the city,

04:02where Fatwa is given,

04:04when they locked him inside,

04:06the same Mualvi was sitting inside.

04:08He was a great Mualvi of his time.

04:10He was a great Mualvi of his time.

04:12He is around 100-120 years old.

04:14He is around 100-120 years old.

04:16When he went inside,

04:18he said, Mualvi sahib,

04:20you made us sit on Khulwala.

04:22He recited Quran to us.

04:24He said, I gave you a message.

04:26You are a great Mualvi.

04:28You don't need to recite big Surahs.

04:30You can recite Surah Ikhlas.

04:32You don't need to shave your beard.

04:34You have two friends.

04:36One in the front and one in the back.

04:38You can shave your beard.

04:40I don't know.

04:42It doesn't happen.

04:44It's your chill program.

04:46Okay, let's move ahead.

04:48The next question is,

04:50if a person wants to see

04:52the assets of a company or a business,

04:54what are the liabilities?

04:56What is the equity?

04:58The assets in a business,

05:00like land, building, plant, machining,

05:02all these are assets.

05:04What do you need to buy these assets?

05:06Money.

05:08In Faisalabad, money is called Peha.

05:12What do you call it?

05:14Peha.

05:16What is the Jamaal?

05:18Peha.

05:20Peha.

05:22What do you call it?

05:24Peha.

05:26So, he said,

05:28you need money to run a business.

05:30Your money, capital.

05:32No.

05:34So, you need money to run a business.

05:36So, in this business,

05:38the person who is going to invest,

05:40what are the assets?

05:42What is the level of debt on them?

05:44What is the liability?

05:46If there is a lot of debt already,

05:48then what will I get

05:50in the interest payment?

05:52So, there are a lot of things about the company.

05:54You can read it.

05:56If I want to see

05:58what is its income?

06:00And what are its expenses?

06:02So, where will I get it from?

06:04SubhanAllah.

06:06Where will I get income and expenses from?

06:08Statehood of?

06:10Comprehensive income.

06:12This is also called Profited Loss.

06:14What do you call it?

06:16Profited Loss.

06:18Then I will tell you later

06:20what is Profited Loss and

06:22Statehood of Comprehensive Income.

06:24In Statehood of Cash Flows,

06:26there is only cash.

06:28Where did the cash come from?

06:30I will tell you.

06:32Statehood of Financial Position.

06:34The details of this will be here.

06:38Further details will be here.

06:40And

06:42as you wrote income,

06:44you wrote sales,

06:4610 billion,

06:48Nestle's sales.

06:50How many Nestle products will be there?

06:52Can anyone guess?

06:54Sir, you said 500 million.

06:56No, you said Coca-Cola.

06:58Nestle will have more than 1000 brands.

07:02But that sale is written in one line.

07:08Now how do we know how many

07:10toothpaste are sold?

07:12How many face are sold?

07:14How many shampoos are sold?

07:16How many soaps are sold?

07:18So many products.

07:20So about those sales,

07:22detailed.

07:24Statehood of Comprehensive Income

07:26will be of one page.

07:28Sales will be written,

07:30in one line.

07:32Now this sale is written in one line.

07:34But whose sale is this?

07:36How much is the sale?

07:38Okay, brother.

07:40So what will happen?

07:42The things above,

07:44whose amounts are written in statehood,

07:46where are the details about them?

07:48Notes to the accounts were detailed.

07:50How detailed was he?

07:52Notes to the accounts were detailed.

07:56So friends,

07:58how do we say accounts?

08:00Things have an explanation.

08:02Things are detailed.

08:04For example,

08:06plant and machinery

08:08as an asset.

08:101 billion.

08:12Now how much is the life of this plant and machinery?

08:14What is the depreciation rate?

08:16Okay, brother.

08:18On what value is it written?

08:20On historical cost?

08:22On what value is it written?

08:24So where will all the information about it be?

08:26So in notes to the accounts,

08:28the amounts in the above

08:30four statements,

08:32where is the explanation about them?

08:34Notes to the accounts.

08:36Any objections?

08:38Sir, this is a new company.

08:40Nothing will happen to it.

08:42Usually, in a new company,

08:44only those people invest

08:46who want to make the company.

08:48No, as it is.

08:50As it is.

08:52Usually, if a new company is being

08:54made, then who is making it?

08:56So only those people

08:58who are making it will be interested.

09:00How will a new person invest in a new company?

09:02You don't know if it is a new company or not.

09:04Sir, how can we do it

09:06if the business owners

09:08have a good reputation?

09:10If they want

09:12to start a new business

09:14and we are making this company for it,

09:16then if the rest of the people are interested,

09:18they can do it.

09:20On what basis should they invest?

09:22They have some information.

09:24No one invests

09:26without any reason.

09:28So, about any company,

09:30the information this company has

09:32over the years,

09:34what is it?

09:36Financial statements.

09:38Note the assignment.

09:52What is the objective of

10:02financial accounting

10:08and financial statements?

10:10Why do we study financial accounting?

10:12What is the objective of

10:14financial accounting?

10:16And what else?

10:18What is the second one?

10:20What is the objective of

10:22financial statements?

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