Skip to playerSkip to main contentSkip to footer
HM RANA UMAR FAROOQ The best teacher of CMA USA
  • 7/20/2024
Transcript
00:00Sir, when we are receiving the contribution, the first thing we have to do is to charge
00:07the representation.
00:08In the same way, we have to recognize the contribution as revenue.
00:12So, will revenue be recognized here?
00:14Very good question.
00:15Very good question.
00:16Next question.
00:18I am not sure.
00:21You are worried about a lot of things.
00:24I have to teach the next concept.
00:27I will tell you.
00:29This will solve your problem.
00:32Next, we have a good news for you.
00:35This is a very good news.
00:39I will tell you.
00:42This will solve your problem.
00:44Next, we have a good news for you.
00:47This is the last concept of NPO.
00:49After this, I don't want to learn anything.
00:51Whatever I want to learn, I have learned.
00:52After this, do objectives, pass papers, etc.
00:55This is the last concept.
00:57And that is impairment.
00:58I am reading the PPE now.
01:00Assalam-o-Alaikum.
01:06If an asset is having an impairment in the NPO.
01:09Remember one thing.
01:11Recoverable amount, value in use, fair value, less cost to sell.
01:15All are irrelevant.
01:16Here, the recoverable amount is the residual value.
01:22What is that?
01:23Residual value.
01:25Residual value.
01:28If an asset is having an impairment in the NPO due to damage, accident, etc.
01:32You think that our operations will not benefit us.
01:35So, you will record the amount that can be sold.
01:37You will record the amount that can be sold.
01:40And here, the word is residual value.
01:44What will you measure?
01:46Residual value.
01:51Okay, friends.
01:52Anyone has any objection?
01:54Okay.
01:55Now, let's change the point to what Bhai did.
01:57It was a very important point.
01:58Like, he told me.
02:00That if we bought a tractor.
02:04And for that tractor, someone had given us money for the tractor.
02:08So, we made a tractor fund.
02:12Okay.
02:13Now, on this tractor,
02:15In year 1, year 2, year 3, depreciation came.
02:19For example, the fund that was coming to us for this was 1 lakh rupees.
02:23Let's make it 100 rupees.
02:24On this, depreciation came for 20 rupees in the first year.
02:28What came?
02:2920.
02:30What will we do with the fund of 20 rupees from here?
02:33Reliance.
02:34What will be the entry on this line?
02:36Depreciation debit.
02:38Accumulated depreciation account credit.
02:40I will write it down.
02:41Its entry will be on one side.
02:43Depreciation.
02:44Debit.
02:45And what will be the credit?
02:47Accumulated depreciation from 10 rupees.
02:49Let's make it 20 rupees.
02:51From 20 rupees.
02:52So now, since the fund is available for this,
02:54The expenditure has not been done effectively.
02:56So now at the end of the year, there will be an entry of income.
02:58Which one?
02:59Tractor fund.
03:01Debit.
03:02From how much?
03:03From 20 rupees.
03:04And who will do the credit?
03:05Income and expenditure.
03:07From how much?
03:08This is what we learned in restricted contribution.
03:11See, I have restricted contribution.
03:13Because I have to give the paper, so I remember.
03:16Since you don't have to give the paper,
03:18Because you come to teach me, not to learn.
03:21So you don't have to remember.
03:23I will see if I remember or not.
03:25If restricted contribution is related to current year expenses,
03:28Will you make a foreign income?
03:30If it is related to future expenses,
03:32Will you make a deferred income?
03:33Whenever there is an expense, when will you make an income?
03:35If restricted contribution is related to a non-depreciable asset,
03:39Then it will be written in the fund as a direct net asset.
03:41Will never bring income and expenditure.
03:43If it is related to depreciable assets,
03:46Then we will write it in deferred income liabilities.
03:50Whatever asset will be depreciated,
03:52Depreciation will come from here,
03:53From there we will shift from the fund,
03:55Where income and expenditure will come.
03:57Because this is the income of our future,
03:59Which will reduce our depreciation expense.
04:02And the income of the future is deferred income,
04:04And deferred income is written in liabilities.
04:06And the liability over the years will be reduced,
04:09We will keep debiting it.
04:10We will keep debiting the fund and credit the income expenditure.
04:14So let me tell you this first,
04:16I got the answer to your question.
04:18That when you take a depreciable asset,
04:20If some other fund is running,
04:23Then that fund also ends.
04:25Now moving forward from this point,
04:28I will teach you the impairment.
04:30For example,
04:32You took this asset tractor for 100 rupees,
04:35And how much depreciation will come on it?
04:3720 rupees, how much will it come?
04:3980.
04:40And how much will the deferred consideration come?
04:4280.
04:44Remained?
04:4580 is left, right?
04:46For example,
04:47This asset has become impaired.
04:49Became useless.
04:51Its impairment will be 80 rupees,
04:53And its value will be nil.
04:55The tractor has become nil.
04:58If this tractor,
05:00Over the life of asset,
05:02First listen to the sixth program,
05:04Over the life of asset,
05:06If it was depreciated,
05:07How much would it go every year?
05:0820 rupees would be less,
05:10And from there,
05:11When is the liability of 20 rupees?
05:13Right?
05:14Right?
05:15Where does 20 rupees go?
05:17Income.
05:18This is it, right?
05:19If this asset was reduced by 20 rupees,
05:22Then its fund will also be reduced by 20 rupees.
05:25And income will be made.
05:26If this asset is suddenly reduced,
05:28Then the fund will also be reduced.
05:30And where is the fund going after being reduced?
05:32I will come to this again.
05:33Every year,
05:34Depreciation of 20 rupees is coming.
05:36Every year,
05:37Fund is being reduced by 20 rupees.
05:38Every year,
05:39Tractor is being reduced by 20 rupees.
05:41And how much income is the fund asking for?
05:4320 rupees.
05:44Now I will do this a little more.
05:46If this asset was depreciated by 30 rupees,
05:49Then how much income would the fund make?
05:5230 rupees.
05:53And if this asset,
05:54And what happens to depreciation of asset?
05:56It is reduced.
05:57If this asset is reduced by 80 rupees,
05:59Then how much income will be made from the fund?
06:0160 rupees.
06:02Point clear.
06:03If there is a fund related to an asset,
06:06Then on the useful life of that asset,
06:08Income is made from the fund.
06:10But if that asset is useless,
06:12If that asset is useless this year,
06:15That means you have used all of it.
06:17If it is damaged,
06:18Then the fund related to it will not be an asset in the next year.
06:21Then over the life of the asset,
06:23It cannot be amortized.
06:25Then how much will the fund be made?
06:2760 rupees.
06:28Similarly,
06:29As we had read in Revaluation Valuation 16,
06:31If there is a Revaluation Surplus on an asset,
06:33Then over the life of the asset,
06:35The extra depreciation comes,
06:37It goes into Retained Earnings through Revaluation Surplus.
06:39But if the asset is sold,
06:41Then the entire Revaluation Surplus,
06:42If there is no asset,
06:43Then how to keep the Revaluation Surplus?
06:45So where does the entire Revaluation Surplus go?
06:47In Retained Earnings.
06:48Similarly,
06:49If there is an asset,
06:50If it is slowly depreciating,
06:52Then the fund will also slowly become income.
06:54If the asset is over,
06:55The fund is also over.
06:56If the asset depreciates,
06:58Then expense will be made in Income and Expenditure.
07:00If the fund is gradually over,
07:02Then where does the Income and Expenditure go?
07:04And if the fund is suddenly over,
07:06Then where will it go?
07:07The fund has to go into Income and Expenditure.
07:09Should it go slowly or fast?
07:11Clear point?
07:13So if an asset,
07:14Brother's question,
07:15If an asset is depreciating,
07:17Then the fund will gradually become Income.
07:19And if an asset is useless,
07:20Disposed,
07:21Damaged,
07:22So if there is something in its fund,
07:24Then what will it make?
07:25It will make Income.
07:27Okay, Kirtipat?
07:29Keep these things in mind.
07:30Read this,
07:31Impairment and Unamortized Effort Contribution.
07:34Example number 16.
07:35Jameel Mehtabwali.
07:37Note down the first part.
07:41Impairment and Unamortized Effort Contribution.
07:44And read example 16.
07:48The example of ICAP is 16.
07:50And in Hawaii,
07:52Example number 18.
07:55This is a very important concept.
07:57But if you understand,
07:58It is similar.
07:59If there is an asset,
08:00Then there is a Revaluation Surplus.
08:01If there is no asset,
08:02Then all the Revaluation Surplus,
08:03Is in Rated Earnings.
08:05If there is an asset,
08:06If there is an asset,
08:07Then there is a fund.
08:08If there is no asset,
08:09Then there is no fund.
08:10Now the fund was income.
08:11If the asset ends here,
08:12Then the fund had to become
08:13Over the Life of Asset Income.
08:15Now if the asset is gone,
08:16Then make the whole fund income.
08:17So where will the whole fund shift?
08:19We are shifting to Income and Expenditure.
08:22On one side,
08:23Impairment must be coming.
08:24Listen,
08:25This is another important point.
08:26On one side,
08:27Depreciation expense is there,
08:28Then the fund comes for help.
08:31This asset was available for free,
08:32Take 20 rupees from me.
08:33Now the impairment of 80 rupees has come.
08:35Then the fund will come again.
08:36How much is the impairment?
08:3780 rupees.
08:38Take 80 rupees from me.
08:39So what will be the foreign fund?
08:40Income.
08:41We will write the expense of impairment.
08:43But along with depreciation,
08:44The fund was helping for 20 rupees.
08:46And now the impairment of 80 rupees has come.
08:48So the impairment is expense.
08:49So how much help will come?
08:5080 rupees.
08:51Now read from the book.
08:52Impairment and Unamortized Debt
08:55With Retribution Loss.
08:56Jameel Mehta.
09:05Jameel Mehta.
09:35Jameel Mehta.
10:05Jameel Mehta.
10:07Jameel Mehta.
10:09Jameel Mehta.
10:11Jameel Mehta.
10:13Jameel Mehta.
10:15Jameel Mehta.
10:17Jameel Mehta.
10:19Jameel Mehta.
10:21Jameel Mehta.
10:23Jameel Mehta.
10:25Jameel Mehta.
10:27Jameel Mehta.
10:29Jameel Mehta.
10:31Jameel Mehta.
10:33Jameel Mehta.
10:35Jameel Mehta.
10:37Jameel Mehta.
10:39Jameel Mehta.
10:41Jameel Mehta.
10:43Jameel Mehta.
10:45Jameel Mehta.
10:47Jameel Mehta.
10:49Jameel Mehta.
10:51Jameel Mehta.
10:53Jameel Mehta.
10:55Jameel Mehta.
10:57Jameel Mehta.
10:59Jameel Mehta.
11:01Jameel Mehta.
11:03Jameel Mehta.
11:05Jameel Mehta.
11:07Jameel Mehta.
11:09Jameel Mehta.
11:11Jameel Mehta.
11:13Jameel Mehta.
11:15Jameel Mehta.
11:17Jameel Mehta.
11:19Jameel Mehta.
11:21Jameel Mehta.
11:23Jameel Mehta.
11:25Jameel Mehta.
11:27Jameel Mehta.
11:29Jameel Mehta.
11:31Jameel Mehta.
11:33Jameel Mehta.
11:35Jameel Mehta.
11:37Jameel Mehta.
11:39Jameel Mehta.
11:41Jameel Mehta.
11:43Jameel Mehta.
11:45Jameel Mehta.
11:47Jameel Mehta.
11:49Jameel Mehta.
11:51Jameel Mehta.
11:53Jameel Mehta.
11:55Jameel Mehta.
11:57Jameel Mehta.
11:59Jameel Mehta.
12:01Jameel Mehta.
12:03Jameel Mehta.
12:05Jameel Mehta.
12:07Jameel Mehta.
12:09Jameel Mehta.
12:11Jameel Mehta.
12:13Jameel Mehta.
12:15Jameel Mehta.
12:17Jameel Mehta.
12:19Jameel Mehta.
12:21Jameel Mehta.
12:23Jameel Mehta.
12:25Jameel Mehta.
12:27Jameel Mehta.
12:29Jameel Mehta.
12:31Jameel Mehta.
12:33Jameel Mehta.
12:35Jameel Mehta.
12:37Jameel Mehta.
12:39Jameel Mehta.
12:41Jameel Mehta.
12:43Jameel Mehta.
12:45Jameel Mehta.
12:47Jameel Mehta.
12:49Jameel Mehta.
12:51Jameel Mehta.
12:53Jameel Mehta.
12:55Jameel Mehta.
12:57Jameel Mehta.
12:59Jameel Mehta.
13:01Jameel Mehta.
13:03Jameel Mehta.
13:05Jameel Mehta.
13:07Jameel Mehta.
13:09Jameel Mehta.
13:11Jameel Mehta.
13:13Jameel Mehta.
13:15Jameel Mehta.
13:17Jameel Mehta.
13:19Jameel Mehta.
13:21Jameel Mehta.
13:23Jameel Mehta.
13:25Jameel Mehta.
13:27Jameel Mehta.
13:29Jameel Mehta.
13:31Jameel Mehta.
13:33Jameel Mehta.
13:35Jameel Mehta.
13:37Jameel Mehta.
13:39Jameel Mehta.
13:41Jameel Mehta.
13:43Jameel Mehta.
13:45Jameel Mehta.
13:47Jameel Mehta.
13:49Jameel Mehta.
13:51Jameel Mehta.
13:53Jameel Mehta.
13:55Jameel Mehta.
13:57Jameel Mehta.
13:59Jameel Mehta.
14:01Jameel Mehta.
14:03Jameel Mehta.
14:05Jameel Mehta.
14:07Jameel Mehta.
14:09Jameel Mehta.
14:11Jameel Mehta.
14:13Jameel Mehta.
14:15Jameel Mehta.
14:17Jameel Mehta.
14:19Jameel Mehta.
14:21Jameel Mehta.
14:23Jameel Mehta.
14:25Jameel Mehta.
14:27Jameel Mehta.
14:29Jameel Mehta.
14:31Jameel Mehta.
14:33Jameel Mehta.
14:35Jameel Mehta.
14:37Jameel Mehta.
14:39Jameel Mehta.
14:41Jameel Mehta.
14:43Jameel Mehta.
14:45Jameel Mehta.
14:47Jameel Mehta.
14:49Jameel Mehta.
14:51Jameel Mehta.
14:53Jameel Mehta.
14:55Jameel Mehta.
14:57Jameel Mehta.
14:59Jameel Mehta.
15:01Jameel Mehta.
15:03Jameel Mehta.
15:05Jameel Mehta.
15:07Jameel Mehta.
15:09Jameel Mehta.
15:11Jameel Mehta.
15:13Jameel Mehta.
15:15Jameel Mehta.
15:17Jameel Mehta.
15:19Jameel Mehta.
15:21Jameel Mehta.
15:23Jameel Mehta.
15:25Jameel Mehta.
15:27Jameel Mehta.
15:29Jameel Mehta.
15:31Jameel Mehta.
15:33Jameel Mehta.
15:35Jameel Mehta.
15:37Jameel Mehta.
15:39Jameel Mehta.
15:41Jameel Mehta.
15:43Jameel Mehta.
15:45Jameel Mehta.
15:47Jameel Mehta.
15:49Jameel Mehta.
15:51Jameel Mehta.
15:53Jameel Mehta.
15:55Jameel Mehta.
15:57Jameel Mehta.
15:59Jameel Mehta.
16:01Jameel Mehta.
16:03Jameel Mehta.
16:05Jameel Mehta.
16:07Jameel Mehta.
16:09Jameel Mehta.
16:11Jameel Mehta.
16:13Jameel Mehta.
16:15Jameel Mehta.
16:17Jameel Mehta.
16:19Jameel Mehta.
16:21Jameel Mehta.
16:23Jameel Mehta.
16:25Jameel Mehta.
16:27Jameel Mehta.
16:29Jameel Mehta.
16:31Jameel Mehta.
16:33Jameel Mehta.
16:35Jameel Mehta.
16:37Jameel Mehta.
16:39Jameel Mehta.
16:41Jameel Mehta.
16:43Jameel Mehta.
16:45Jameel Mehta.
16:47Jameel Mehta.
16:49Jameel Mehta.
16:51Jameel Mehta.
16:53Jameel Mehta.
16:55Jameel Mehta.
16:57Jameel Mehta.
16:59Jameel Mehta.
17:01Jameel Mehta.
17:03Jameel Mehta.

Recommended

15:06
Up next
Conceptual Framework Lec 01 Part 8
HM RANA UMAR FAROOQ The best teacher of CMA USA
7/20/2024
14:56
Conceptual Framework Lec 01 Part 7
HM RANA UMAR FAROOQ The best teacher of CMA USA
7/20/2024
11:33
Conceptual Framework Lec 01 Part 9/9
HM RANA UMAR FAROOQ The best teacher of CMA USA
7/20/2024
13:04
Conceptual Framework Lec 01 Part 5
HM RANA UMAR FAROOQ The best teacher of CMA USA
7/20/2024
15:14
Conceptual Framework Lec 01 Part 6
HM RANA UMAR FAROOQ The best teacher of CMA USA
7/20/2024
11:44
NPO LECTURE 03 1/6: INVESTMENT INCOME
HM RANA UMAR FAROOQ The best teacher of CMA USA
7/20/2024
22:37
NPO LECTURE 03 4/6: PPE
HM RANA UMAR FAROOQ The best teacher of CMA USA
7/20/2024
9:39
NPO LECTURE 03 2/6: Fund Raising Events
HM RANA UMAR FAROOQ The best teacher of CMA USA
7/20/2024
8:47
NPO LECTURE 03 5/6: PPE Constructed or developed
HM RANA UMAR FAROOQ The best teacher of CMA USA
7/20/2024
27:46
NPO LECTURE 03 3/6: Inventory and Collections
HM RANA UMAR FAROOQ The best teacher of CMA USA
7/20/2024
14:21
Conceptual Framework Lec 01 Part 4
HM RANA UMAR FAROOQ The best teacher of CMA USA
7/19/2024
12:16
Conceptual Framework Lec 01 Part 3
HM RANA UMAR FAROOQ The best teacher of CMA USA
7/19/2024
18:57
Partnership ch 1 Last
HM RANA UMAR FAROOQ The best teacher of CMA USA
7/19/2024
20:11
NPO LEC 02 Part 3_6 Subscription Account
HM RANA UMAR FAROOQ The best teacher of CMA USA
7/19/2024
17:35
NPO LEC 02 Part 2_6
HM RANA UMAR FAROOQ The best teacher of CMA USA
7/19/2024
19:56
NPO LEC 02 Part 6_6 Government Funding To NPO
HM RANA UMAR FAROOQ The best teacher of CMA USA
7/19/2024
10:37
NPO LEC 02 Part 4_6 Joining Fee and Life Time Membership fee
HM RANA UMAR FAROOQ The best teacher of CMA USA
7/19/2024
11:49
NPO LEC 02 Part 5_6 Fee for Service and Contribution
HM RANA UMAR FAROOQ The best teacher of CMA USA
7/19/2024
13:35
NPO LEC 02 Part 1_6
HM RANA UMAR FAROOQ The best teacher of CMA USA
7/19/2024
10:33
ITA Lecture 07 Part D
HM RANA UMAR FAROOQ The best teacher of CMA USA
7/19/2024
10:49
ITA Lecture 07 Part C
HM RANA UMAR FAROOQ The best teacher of CMA USA
7/19/2024
15:20
ITA Lecture 07 Part B
HM RANA UMAR FAROOQ The best teacher of CMA USA
7/19/2024
15:04
ITA Lecture 07 Part A
HM RANA UMAR FAROOQ The best teacher of CMA USA
7/19/2024
28:07
NPO LECTURE 01 PART 5/5
HM RANA UMAR FAROOQ The best teacher of CMA USA
7/18/2024
20:45
NPO LECTURE 01 PART 3/5
HM RANA UMAR FAROOQ The best teacher of CMA USA
7/18/2024