IND AS 115 Revision | CA Final FR | Revenue from Contracts with Customers | By CA Ajay Agarwal AIR 1 

Time stamps : 00:01 intro 09:45 step 1 Identify Contract 21:29 step 2 Identify Performance Obligation 38:33 step 3 Determine the Transaction price -Non-cash consideration 1:00:20 (adj. in TP) -Significant Financing component 1:16:34 (adj. in TP) -Non Significant Financing component 1:31:55 (Not adj. in TP) 1:35:00 step 4 Allocating the TP to P.O 1:46:53 step 5 Recognise revenue as & when entity satisfies the PO Special cases: 2:05:29 sp 1 sale with ri8 of return 2:08:23 sp2 accounting of warranty (step-3 part) 2:11:11 sp3 renewal option 2:15:32 sp4 discount voucher 2:18:22 sp5 loyalty points 2:23:21 sp6 contract modifications (step-1 part) 2:26:20 sp7 combining contracts (step-1 part)-vvimp 2:27:02 sp8 Principal vs Agent Consideration (step-2 part) 2:27:56 sp9 consignment Arrangement (step-2 part) 2:29:25 sp10 bill & hold 2:31:35 sp11 service concession 2:37:20 sp12 repurchase agreement 2:44:25 sp13 contract cost LDR QNS MRP 1 ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-UypgX7frLvQ.html. Loyalty points

Time stamps : 00:01 intro 09:45 step 1 21:29 step 2 38:33 step 3 transaction price 01:35:00 step 4 allocation of tp 01:46:53 step 5 02:05:29 special case 1 sale with ri8 of return 02:08:23 sp2 accounting of warrenty 02:11:11 sp3 renewal option 02:15:32 sp4 discount voucher 02:18:22 sp5 loyalty points 02:23:21 sp6 modifications 02:26:20 sp7 combination 02:27:02 sp8 principal agent 02:27:56 sp9 consignment 02:29:25 sp10 bill & hold 02:31:35 sp11 service concession 02:37:20 sp12 repurchase agreement 02:44:25 sp13 contract cost

Guys i am qualified chartered accountant only because of Agarwal brothers

9:27 - Identifying contract with customer(irrelevant for exam) 30:00 - Significant reversal of revenue in future 1:03:58 - Transaction price need to be adjusted 1:13:08 - if paymenr is for distinct goods or services received from the customer. 1:16:32 - Effect of significabt financi g component 1:09:30 If payment is for distinct goods or services received from customer 1:55:40 -Input method 2:05:28 - right of return 2:10:46 - contract renewal option at low price

Never seen a bad comment on this channel. This shows the actual worth of what these two brothers are offering to CA students. Love from Rajasthan ❤

I was here in May 2022 as an Aspirant!! Now watching this for Interview!! Thankyou Sir for Your QB, Revision Videos and Notes. All the best to Everyone!

Most of all it is important for a teacher to convince students that things are easy and the way he say it first and then explain it in the easiest way possible truly makes a mark... Thank you so much😊.. Have watched many revision videos but this the first comment after listening for 2mins🥰

Those words "kuch nhi hai yeh, aaramse ho jayega" and then those explanations for every concept, Thank you so much Sir.

What you provide for free revision, most so called famous teachers do not even cover in their paid classes with this much clarity and ease. Thank you sir

Used to watch your lectures for clearing exams, now watching for interview 🥰

Thanks! I have not seen Any faculty dedicated for helping even non coaching students as well

00:02 Understanding revenue recognition and accounting entries for customer contracts. 03:02 Recording revenue based on transfer of control 09:21 Recognize revenue when control is transferred and business is conducted 12:16 Revenue recognition in IND AS 115 21:41 Revenue recognition under IND AS 115 24:26 Understanding the different takes on revenue recognition and contracts with customers. 29:45 Customer Philosophy and Revenue Recognition 33:32 The steps to record revenue are important 41:43 Understanding revenue recognition under IND AS 115 45:40 Difficulty faced by general in practice 53:44 Understanding revenue from contracts with customers in CA Final FR. 57:21 The video discusses the revision of IND AS 115 for Revenue from Contracts with Customers. 1:05:29 The video discusses revenue recognition under IND AS 115. 1:10:16 The video discusses revenue recognition under IND AS 115. 1:16:58 Revenue from Contracts with Customers is a crucial topic in CA Final FR. 1:20:09 The process of removing something is called 1:30:13 The correct interpretation topic of revenue from contracts with customers. 1:34:22 Revenue recognition under IND AS 115 is based on the duration of the contract. 1:43:14 Revenue accounting for different products 1:46:01 Revenue recognition process and timing in IND AS 115 1:53:08 Understanding revenue recognition under IND AS 115 1:56:31 Be careful while posting in Numerator and Denominator 2:04:37 The video talks about the revision of IND AS 115 and revenue recognition in CA Final FR. 2:08:00 Revenue recognition in IND AS 115 2:14:16 Total number of customers is important for revenue tracking. 2:17:13 Revenue recognition is based on contract terms and discounts 2:22:04 Understand the concept of loyalty points and liability booking 2:24:42 Recording revenue and its impact on subscription and modifications 2:31:26 Subscribe to the channel for updates on IND AS 115 Revision 2:35:21 Revenue recognition in IND AS 115 2:43:59 Revenue recognition under IND AS 115 2:47:58 The video discusses revenue recognition standards under IND AS

he do not care about money. just focusing on real stuff. Making things easy. Pure hardwork.

Passed exams with these lectures now preparing for interview.. you are amazing sir !

Really better than so called renowned teachers full time lecture. It is my personal experience. They make the topic like rocket science🚀🔬.. U can't able to connect with them..

Sir, you made IND AS 115 very easy by providing this revision video. All concepts are now clear. Hats off to your dedication. Radhe Radhe.

My kind of people....who takes CA just as a course not as a super tough one...u both are gems..hatsoff

He is like sunil narine... Doesn't give much reaction on the perfection, just keep on doing the work Superb lecture sir🙏👍

Superr..... Main exam k 3 din pehle ye video dekh raha hoon.... Ab mujhe 115 me koi bhi confusion nahi h.... Maine sirr se classes bhi nahi li hai... Highly recommend video

8:29 five steps model 10:02 irrelevant for exam pov 16:02 deposit liab gunda eg 22:05 step 2 PO 39:14 step 3 txn price 52:08 most likely amt method (2 outcome) 54:40 VC not inc in TP 57:40 reestimate VC 1:00:19 non cash txn 1:04:20 adj in TP 1:16:39 financing component 1:35:00 Allocation TP in PO 1:47:04 Recognition of revenue 2:05:29 special case 2:31:47 service concessions arrangement

Here for interview preps after clearing May'23 exams, Thank you for being a part of my journey sir. It would've been so incomplete without you.

I watched your lectures for exam preparation and now watching it for interview prep,the way Ajay sir explained everything in detail, my fear for ind as 115 has gone, i can't thank you enough

I Suggest every student trust him blindly. He is genius, bcz of him I am CA Aniket today ❤ #Agrawal Brothers...❤

This is some serious Premium Quality Teaching. I bet no other got such great indepth understanding of concepts than this duo✨

1:53:07 Progress 2:08:20 warranty 2:18:22 loyalty

Sir explained Contract cost in last 4 minute asked in exam of nov23 for 5 marks ... do not ignore a single line of his notes

M super impressed...really appreciate your effort...people charge a lot for this type of tutorial...this is not just useful for student but also for working professionals...hats off guys

On today's modern world inly few people attached with our roots and ajay and atul sir are one of them awesome teaching sir.

Understood all the concepts in one stroke. Thank you sir, Radhe Radhe

Every time when I watch ur classes or videos my mind repeatedly says:-) Ye kitna awasome h yaar😅😎

Very good explanation of Ind As 115 in very easy manner. I recall the IndAs Questions from your examples which I had done from Parveen Sharma Sir book. Very clear communication and comparison with 11 class is essential and best part of your lecture.

Thank you so much sir!! Happy Guru Purnima🙏

Though watching this without taking your class, still did not get the feeling that i missed something, as u covered all the topics so well🙌🏻

these notes are different from the one provided on website...and it is really difficult to refer them

Throughout the standard, BB is so aggressive! So convincing examples. Thank you sir jee🙏

Literally god for me .. i just had a major operation and have to cover the entire group 1 syllabus in 2 months.. thanks for these lectures .. i hope i clear this time with your guidance and support . Har har mahadev ! 🙏🏼

Sir, do we also require to write theory and big explanations as given in module(in some cases).... Or only numerical answer will be enough?

Please add revision videos of other IND AS also, they are really very very helpful sir, questions were solved at single stroke... Thank you so much sir

Because of your Free lecture I got exemption in FR and Clear CA Final and after completing CA I am also watching your lecture for interview 👍👍

Superb explanation 👌 Even regular class is not watched this revision lecture is more than sufficient. All the lectures are well explained and it helped me a lot during last moment and this chapter Ind AS 115 never watched any lecture/read and this was my my firsrt time and catched up very quickly. I appreciate your efforts.

Sir i feel fear when i study this ind as but after your wonderful lacture i feel fearless. Thank you very much sir for such wonderful gift. 👌👌 Radhe radhe

Your teaching style is Great sir, bahut jaldi se samaj aa jata hain, Most important thing is confidence which I get from your revision lectures 🙏🙏👍🏻

Sir, Can you please provide updated notes of FR.

You Revision Videos are just amazing. It made IND AS 115 very Easy. Thank you So much.

I am Old course student. Your revision videos is very helpful to understand the concepts of Ind AS. Thank you very much.

I qualified in Nov 2023. Say it whether Interview or exam, you are the sole destination for me to revise concepts.

Radhe radhe sir 🙏 Thank you so much from the bottom of my heart. Forever grateful 😊

Where can we get the above revision videos notes?

Hi I want Ind as 115 PDF I checked in telegram page but didn’t find Can anyone help me to get this?

PRABHU KRIPA SAB PE BARASTI RAHE---AISE APP LECTURES NIKALTEY RAHOO-----AUR HUM SAB KA KALYAN HOTA RAHE--BOLO RADHEY RADHEY

I HAVE TAKEN LECTURE WITH VARIOUS FACULTIES, BUT THE CONCEPT WITH CONFIDENCE TO END IT ON EXAM DATE GOT ONLY EITH YOUR NOTES AND LECTURE......RADHEY RADHEY

2:04:41 cumulative catch up -cost and WIP 55:02 variable consideration not included in tr. Price 57:55 change in VC on cumulative catch up basis 1:03:35 inclusion of non cash cons. given by customer

Great lecture ajay sir....it was very helpful in having conceptual clarity. Kisi bhi layman ko bhi samajh mein aa jaayega ab yeh toh.

This chapter is so hyped by other professors, but after watching your revison lecture, i could easily solve all the QB questions, RTPs and past question papers ! You are wonderful Sir :)

best revision videos, regular class +revision videos key for qualifying ca, thank you ajay sir for providing best guidance for becoming ca

WOW Watched this revision lecs during exam days and now I'm qualified CA watching it for Interview!!

Please keep on adding more FR revision videos, its very helpful for us.

Hi, Suppose, I am charging customer with interest for credit period and since it is within one year so I am not showing it separately. Now I have a contract with customer that if consideration is paid before credit period, customer will get back the interest charged. So in this case what should be the treatment? Should it be charged to expense or reduced from revenue?

High level content wala revision video hai...maan'na padega sir...Hats Off

Thank you so much, Sir! 🙏 Kindly upload others as well.

Jab humne gunde ko laptop diya toh usne 5000 diye Jo deposit liability mein chla gya . But what about the asset side should we show it as closing stock lying with the customer or anything else ? Plz tell

Why am i not able to download from class notes from site. Its showing as not available

You make every topic very easily understandable..Greatful..

No doubt, your revision are just awesome..... Thank youu....for such revision lectures

Hi sir..I have doubt that once we sell the goods and if he is not able to pay the money ...that will not be recorded as revenue....then what we have to record for this transaction???because products already been sold...inventory is reduced.

Class lecture main to clear nahin ho paya tha maine skip kar diya tha but revision main Saara samajh Aa Gaya.... Wow Thank you Ajay sir

Time stamps : FOR EXAM PURPOSE THESE ARE NOT CRUCIAL AS PER AJAY AGARWAL. Just take a brief idea. 09:45 step 1 whether contract as per ind as? 21:29 step 2 Performance Obligation (P.O) 1:04:45 TRANSACTION PRICE TO BE ADJUSTED FOR 2 ELEMENTS. (here cashback vs rebate coupons vs etc also discussed)

Thank you so much Ajay ji Radhe Radhe🙏

Earlier done this Ind AS for exams , now for interview preparation. Thanku sir for notes, revision videos.

Very helpful.. explained in simple easy manner.. thankyou so much🙏

Ajay bhaiya ki revision videos, toh baki teacher ki regular batch par bhari pad jati h

Words are not enough to express my thankfulnesss... Thankuuu sooooo much bro... U made our FR and SFM travel a cake walk. I was in thought of leaving this IND AS, but i came through ur videos and just wanted to have a view.. But u beautifully connected everything especiallly ur notes it worth cant be measured. Surely ur notes going to lower the time of revision during the previous day of Exam. Iam a non-hindi student. So i feared a little how a hindi class going to workout for me. But u with ur expression and words I just used to it... Iam able to get the crux of the concept. Once again Thankuuuu so much Bro. Let the lord krishna give more power to u..... Thank u so so soooooo much Bro.

apka dill se dhayawad apne bht behatar tareeke se sabhi cheeze bataayie ............... again thank you so much

When the results were declared of nov 2021ca final

Sir, you made very easy to study this IND as...thank a lot

Thankyou so much sir for the amazing lecture ❤️🙏 really really helpful 🙏🔥 Radhe Radhe 🙏

Thanks for your contribution. Now I'm CA🖤

Superb teaching with conceptual clarity. Thanks.

Sir fr k jo abhi concept note uploaded hai kya wo refer kre ya new notes upload hogi?

Sir how I got your notes above you used for indas115 written notes

I have one question, if entity completes its performance obligation so as per Ind As he will record revenue but if he didn’t received revenue from customer then, we have to book our revenue as per Accrued revenue???

Sir ye notes ke alava ... Ind AS ka jo text diya hai module me wo read krna jruri hai ?

I really owe you for your contribution. Love you sir💖💖 full credit to you sir.

Loyalty Points(Q 39) Quick Revision- 2:22:08

Sir you are BLESSING for US Thank you so much Sir 🥰

Thank you so much sir for your efforts ❤ Radhe Radhe ❤️🙏🙏

Thank you sir.❤️ Revision videos very helpful to me. To the point exam oriented 👌

Thank you so much. Waiting for all remaining Ind As revision

So much clarity in a revision video. Blessed to be your student sir.

ekdm bdya smjhaya. khud ko smjhana or dusro ko smjhana isme bht frk h. and u made the difference very less. i hope u understand the level of appreciation

Thank you so much Ajay sir for your amazing FR revision lectures, marathons, ABC analysis, Important questions list and thorough guidance. I'm a CA now in May 24 attempt. Aspirants who are watching this: I'd highly recommend Ajay sir as a Go To for FR! All the best!

Dhanewad sir Radhe Radhe Jai Khatu Shyamji💛

@atul agarwal Sir one doubt what will be the journal entry of booking contract cost as WIP. Please answer 🙏

After watching your video... All concepts understood now n able to solve questions.

Was listening the class for exams as a student. Now listening to revise for interview preparation as a CA. You have changed everything.❤❤❤❤#RadheRadhe

If entity satisfies its PO but customer makes the payment on later date. Is case mein agar question mein Aaj ka cash price diya hai aur ham log incremental borrowing rate lagate Hain. But agar future mein unwinding karne ke bad customer se jo future mein payment aaega vo agar iss contract deter ke amount se match nahin kar raha hoga two balance ham log revenue account mein lekar ke jaenge ya fir P&L main lekar jaenge. Incremental borrowing rate use kar rahe hain to Aisa situation a hi sakta hai na ??

I RECENTLY COMPLETE THIS REVISION LECTURE, IT IS VERY HELPFUL.

CA Ajay bhai jindabad. Legend admi ho dono bhia revolution h CA ki industry me. Phle sharma sir the Phir Ab ap dono. Legend

Loved this revision video but from where I can get this revision pdf

Thank you ❤️ Radhey radhey 🙏🏻