NPO LEC 02 Part 2_6

HM RANA UMAR FAROOQ  The best teacher of CMA USA

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00:00No, friends. Is anyone having a problem?

00:04Clear?

00:05The last case we have is of restricted contribution.

00:09He is giving us restricted contribution for repayment of loan.

00:16All these can come in person as adjustments.

00:22Should we know about the card and the treatment?

00:24What should be taken?

00:27Non-current assets, if contribution is related to expenses, then it is restricted.

00:32If it is related to current years, then we will make income.

00:35If it is related to future expenses, then we will make deficit income.

00:38And when that expense goes away, then we will make income.

00:41We will recognize the revenue.

00:44And if it is a contribution related to non-depreciable assets, then we will take it directly to net assets.

00:48We will never make income.

00:50And if it is related to depreciable assets, then we will not take it to net assets,

00:54we will take it to liabilities.

00:56And over the life of assets, we will make its revenue.

00:59Third, if the purpose is declared,

01:02and it is like depreciable assets, then we will take it over the life of assets.

01:05And if the purpose is generalized,

01:07then when that purpose is fulfilled,

01:09the restriction that is there,

01:11as soon as it is fulfilled, the work will be done,

01:13then we will give revenue to everyone.

01:15Now what are we getting?

01:17We took a loan from people.

01:19We took a loan.

01:21And after taking the loan,

01:23someone gave us a contribution,

01:25that I give you money, you pay this loan.

01:28Now we saw that when we make income and expenditure accounts,

01:32then we wrote different incomes there.

01:35On this, we said that there can be a stall,

01:37there can be an event,

01:39there can be member subscriptions,

01:41there can be contributions.

01:44Now one person is contributing.

01:46You are saying that you are very worried.

01:48We have to give loans to people,

01:50so that someone contributes to us.

01:52So people said that you contributed.

01:54For what?

01:55For repayment of?

01:57Now we will see what purpose this loan was used for.

02:02The loan that you have to repay,

02:04the loan, for whom are you getting the contribution?

02:07For repayment of loan.

02:10So you can take a loan for any purpose.

02:13There is no food and drink at home,

02:16there is no need for it.

02:18You can also take a loan for daily expenses.

02:21There is a plant in the factory,

02:23there is no machinery,

02:25you can also take a loan for that.

02:27There is no land to set up a factory,

02:29you can also take a loan for that.

02:31So the purpose will be seen,

02:33for what purpose the loan is taken.

02:36Then the contribution to repay this loan,

02:39how to deal with it,

02:41for that the purpose of the loan is necessary.

02:44Now the loan can also be for expenses.

02:46Can it be for expenses?

02:48If we had taken this loan for expenses,

02:52then what do you think?

02:54Then this contribution should also be made.

03:00If it is related to this year,

03:02then what will we make this year?

03:04Avenue.

03:05Because the purpose has been fulfilled,

03:06the expenses have been made.

03:07And if it is related to future expenses,

03:09then what will we do with it?

03:10We will defer it.

03:11And when those expenses actually pay,

03:14then we will use this contribution.

03:17As soon as the purpose is fulfilled,

03:19for which we are using it,

03:20we will pay the income.

03:22Now I have written this myself,

03:23I have studied it.

03:24If it is related to current year expenses,

03:26someone said,

03:27you have taken money from people,

03:28take it.

03:29I gave you a contribution,

03:30you will immediately repay the loan.

03:31The purpose of that contribution is fulfilled,

03:33pay the income.

03:34But if someone gave a contribution,

03:36whatever will be the expense for the next 5 years,

03:39if you have taken a loan,

03:41I will give that loan.

03:42How much loan have you taken?

03:43I have taken 5 lakhs for 5 years.

03:44Why did you take it?

03:45So that the expenses run properly.

03:46Come on, I will give you a contribution to repay the loan.

03:49So now you have taken a loan for 5 years,

03:51so whenever you will pay it,

03:53whatever portion is there,

03:54what will you do with it?

03:55Income.

03:56And until that year does not come,

03:57then deferred income.

03:58And if it is deferred income,

03:59then what will you write in the book?

04:01Liability.

04:02Is it clear?

04:03I have done all the relate in the past.

04:05It was taught here too.

04:07So listen carefully again.

04:08Listen, listen.

04:09If someone gives you a contribution,

04:11related to the expenses of this year,

04:13then income,

04:14this year.

04:15If it is related to the future,

04:16then deferred income.

04:18Same here too.

04:19You have to repay the loan.

04:21For that, I am giving you a contribution.

04:23If you give the expenses of this year,

04:25then income, revenue.

04:26And if it is related to the next years,

04:27deferred income.

04:28You are this country.

04:29The problem is not the loan,

04:30the problem is the contribution.

04:32When to make the contribution income?

04:34Because the contribution will come

04:35on the face of the income and expenditure.

04:37When to make it income?

04:39If it is repayment of loan,

04:40then when I will repay the loan,

04:41this will be the entry.

04:42Loan, debit, cash, credit.

04:44The problem is the contribution.

04:45Contribution came.

04:46You gave the entry.

04:47Cash, debit.

04:48With whom should I credit?

04:50If it is related to the expenses of this year,

04:53then I will credit the teacher of income and expenditure.

04:55And if it is related to the future,

04:56then cash, debit.

04:57Deferred income credit.

04:59What will I do?

05:00Deferred income credit.

05:01Then over the years,

05:02keep debiting it.

05:03The story of the loan is different.

05:05That is different.

05:06When the loan came,

05:07what was the entry?

05:08Cash, debit.

05:09And when I will repay the loan,

05:10loan, debit.

05:11Cash, credit.

05:12The problem is the contribution.

05:13Contribution came.

05:14Cash, debit.

05:16Cash, debit.

05:17Now, the problem is related to the expenses of this year.

05:20So, I will credit the teacher of income and expenditure.

05:22And if it is related to the future,

05:23then cash, debit.

05:24Deferred income credit.

05:25When it will keep repaying,

05:27then the deferred income,

05:28that is debit.

05:29And the income and expenditure,

05:30I will credit.

05:31Right?

05:32I recalled this part of the expense portion.

05:34Then move on.

05:37The problem is the contribution.

05:38The problem is the loan.

05:39You don't want to get stuck in the loan.

05:41The problem is the contribution.

05:42How to treat that?

05:44And now,

05:45what is the purpose of the loan?

05:46If the purpose of the loan is expenses,

05:48then it is current,

05:49foreign income.

05:50If there is no future,

05:51then it is deferred income.

05:52See it clearly.

06:08Recall it.

06:20This is one of the best strategies.

06:23Whatever you have learnt,

06:24discuss it left and right.

06:25If something has gone inside,

06:26then it will come out.

06:28If nothing has gone inside,

06:29then what will come out?

06:31That is why,

06:32whenever you learn something,

06:33do it immediately.

06:35That is why,

06:36whenever you learn something,

06:37do it immediately.

06:38Do it left and right forcefully.

06:40So that,

06:41if there is something inside,

06:42then it will come out.

06:43Do it quickly.

06:44Discuss it for half a minute.

07:04Done?

07:23Same.

07:24What does it mean?

07:25This is actually,

07:27in the middle of the loan,

07:28only one word has come.

07:29Rest of the treatments are all the same.

07:31Current year expenses,

07:33income,

07:34future expenses,

07:35deferred income.

07:36If loan is related to depreciation,

07:38then?

07:39If net asset is related to depreciation,

07:40then?

07:41Deferred income.

07:42And over the life of asset,

07:43what will you make?

07:44Same.

07:46So don't worry,

07:47if you get a contribution for repayment of loan,

07:50then what will you treat it?

07:51It is the same treatment.

07:52If it is related to current year expenses,

07:54then whatever contribution you get,

07:55make it as income.

07:56You will get a loan.

07:57Because money will come,

07:58loan will be returned.

07:59If it is related to future,

08:00loan has to be returned in future.

08:01What to do about contribution?

08:03If it is related to future expenses,

08:05whenever that expense,

08:06loan will be utilized,

08:07then income.

08:08And if it is related to non-depreciable,

08:10then?

08:11Net asset.

08:12Loan is in the middle.

08:13But who took the loan?

08:15Related to non-depreciable asset.

08:17And related to non-depreciable asset,

08:19any contribution,

08:20if it is related to income and expenditure process,

08:22then direct net asset.

08:23And if it is related to depreciable,

08:25then?

08:26Depreciable.

08:27So what will they do?

08:28Deferred income,

08:29which is the contribution,

08:30for repayment of loan,

08:31which is used,

08:32which was used for the purchase of

08:34depreciable asset.

08:36So what will they do with it?

08:38It will be recognized as

08:39deferred income.

08:41And it will go to

08:42income and expenditure account

08:43over the life of asset.

08:45How much ever depreciation there is,

08:46it will go to income.

08:47What is the only difference between all these?

08:49Loan.

08:51Now recall.

08:52Again.

08:53If repayment of loan is for expenses,

08:55current year.

08:57If it is for current year,

08:59if it is for future year,

09:01or if it is for capital asset.

09:05If it is for capital asset,

09:06and what can it be?

09:08It can be depreciable and?

09:10Non-depreciable.

09:11It can be non-depreciable.

09:13You have to repeat all the things below.

09:15See if it is clear or not.

09:17Hurry up, kids.

09:18Good.

09:29Thank you.

09:59.

10:13.

10:26.

10:27.

10:28.

10:29.

10:30.

10:31.

10:32.

10:51In our book, there are 14-15 examples, but here there are only 2 examples.

11:00But if you see in the book of Lahore, the examples are coming in the name of i-caps-3-texts.

11:07Example 3, i-caps-3-texts. Example 4, i-caps-3-texts. Example 5.

11:13Yes, children, did you get it?

11:18Example 3.

11:20Example 3 is Ali Bhai.

11:22Example 3 is Ali Bhai.

11:24Example 4 is a social club.

11:27Example 5 is a cricket club.

11:30There are 3 examples.

11:34In our book, there are 14 examples and 15 examples.

11:42The third example is the one next to it.

11:44Check it with someone else.

11:45The examples are 14 and 15.

11:55The page number of our book is 552.

11:58What is the page number of Lahore's book?

12:00870.

12:03The page number of Lahore's book is 870.

12:11The page number of Lahore's book is 870.

12:16The page number of Lahore's book is 870.

12:18The page number of Lahore's book is 870.

12:25Let's quickly look at the example.

15:11Example 4.

15:14He says, Allah's name is forbidden.

15:18The whole night the truth was going on.

15:20Who was the one who woke up in the middle of the night and asked,

15:22who were these people?

15:24They were my brothers.

15:26Who?

15:28This is all a fake story.

15:30This is made to ruin the people.

15:32Nothing like that happened.

15:34Now who will go to meet on the raw pot?

15:37Who were those who used to go on the pot?

15:39This is a story from our area, Chenab.

15:42Who were those people who used to go on the pot?

15:44They were the tribal people.

15:46If a person does something legal or illegal,

15:48he has to go on the pot at night.

15:52And do you know that there is a shrine in Sheikhupura?

15:56I don't know what it's called.

15:58What is it called?

16:00Tell me.

16:01Is it of Hir or Ranjha?

16:03Tell me.

16:04Are both the shrines the same?

16:06What did they do to make it a shrine?

16:12They go there and pray.

16:15Now Allah must be thinking what to do.

16:20Tell me.

16:21Is it of Hir or Ranjha?

16:22Tell me a religious thing to do to make it a shrine.

16:25They talk about Islam.

16:27Do you talk to them about Islam?

16:29Then why didn't you get married?

16:33There is another one in Sheikhupura.

16:35There is another shrine.

16:37No, I think that person is right.

16:39There was a poet.

16:40What was his name?

16:41Warish Shah.

16:42I think Warish Shah's shrine is in Sheikhupura.

16:45Yes, that person is right.

16:47He had a very good poem in our syllabus.

16:53His second poem was like this.

16:55It's better to keep a friend alone.

16:58The one who is not less in this world,

17:00is better to keep a friend alone.

17:04The one who is not less in this world,

17:06is better to keep a friend alone.

17:08It's better to keep a friend alone.

17:10It's better to keep a friend alone.

17:15Please bless Warish Shah.

17:19Is it of Hir or Ranjha?

17:21I will go to him and ask him.

17:23I will ask him to give me some advice.

17:26What kind of Hir did you convince?

17:29Please come to me and give me some advice.

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