CA FINAL CA INTER NOTES

Important Points in Preparation of Schedule 3 Division 2 Financial Statements (Analysis of FS) A Compilation of All Adjustments asked in previous RTPS / MTPS / Exam Questions ✅ PPE instead of Fixed Assets ✅ Assets under lease (ROU Asset) will be separately shown under Tangible Assets under PPE ✅ Goodwill acquired in a business combination to be shown separately from Intangible Assets under Ind As 38 ✅ DTA & DTL should be netted off ✅ Bank deposits with more than 12m to maturity should be disclosed under OTHER FINANCIAL ASSETS under Non Current Assets ✅ Other Non Current Assets include Capital Advances ✅ Non Current Assets held for Sale should be shown as a separate line item ✅ Bonus shares issued, Shares issued for consideration other than cash & shares bought back should be DISCLOSED in Notes to Accounts ✅ Debit balance of Profit and Loss should be shown as NEGATIVE FIGURE under Retained Earnings which will be shown under Other Equity ✅ Reserve for Foreseeable Loss should NOT BE INCLUDED in RESERVES ✅ Interest Accrued but not due/ Interest Accrued And Due should be included in Current Liabilities under Other Financial Liabilities ✅ Proposed Dividend after the end of the year shall be DISCLOSED in Notes to Accounts and shall not be added in Current Liabilities ✅ Other Financial Liabilities include Unpaid Dividends, Application money received for allotment of shares to the extent refundable ❌ Redeemable Preference Shares are presented under Non Current Liabilities ❌ Govt Dues and Tax Liabilities aren't FINANCIAL LIABILITIES. They need to be disclosed under Other Current Liabilities/Current Tax Liabilities ❌ Unearned Revenue isn't a FINANCIAL LIABILITY. It should be shown under Other Current Liabilities ❕ Preference Dividend will be shown as Finance Cost in SOPL ❕If a company applies retrospective application of Accounting Policy as per Ind As 8, the company shall prepare 3 Set of Balance Sheet (End of FY, Comparative B/S for the Previous Year, Balance Sheet at the Beginning of the Comparative Previous Year. For ex, 31/3/20, 31/3/19 & 1/4/18) ❕ Non Controlling Interest should be shown as a part of Equity in CFS ❕Profit & Loss attributable to Owners and NCI should be presented separately ❕SOPL shall include Profit & Loss for the Current Period + OCI for the Period ❕ Foreign Currency Translation Reserve as per Ind As 21, FV Reserve as per Ind As 109 & Hedging Reserve as per Ind As 109 shall be RECLASSIFIED TO OCI ❕ Revaluation Reserve as per Ind As 16, FV Reserve as per Ind As 109 (FVTOCI Equity) & Remeasurement Reserve as per Ind As 19 shall be NOT BE RECLASSIFIED For more Important Notes, Updates & Amendment Notes join our below Channels👇 ╔╦═••°❀•°:🎁 ✠ 🎁:°•❀°••═╦╗ 🙈ℑoin CA Final Notes 👉 @CA_Final_NotesForAll 🙈Get Group wise Notes 👉 @Group1_CA_Final 👉 @Group2_CA_Final ╚╩═••°❀•°:🎁 ✠ 🎁:°•❀°••═╩╝

🖥️Summary of Ind AS 102 Share Base Payment 🔸🔸🔸🔸🔸🔸🔸🔸🔸🔸🔸🔸🔸🔸 1.There are two types of share based plans Equity settled plans Cash settled plans 2. We need to create SBP reserve for equity settled plan.(FV ON GRANT DATE) 3.We need to create SBP Liability for cash settled plan(FV at each balance sheet date) 4.For employee share based payment we take fair value of shares GIVEN UP(fair value of employee service that we received is not relevant) For other than employee SBP(thats is SBP for goods/services)- we take Fair Value of goods/services received ( if not available then only we take Fair value of shares GIVEN UP) 5.SBP Reserve will be shown under Other equity and SBP Liability will be shown under Non current liability/Current Liability 6.When lapsed SBP Reserve will be closed to Retained earnings (Since equity in nature) SBP Liability will be closed to Statement of Profit and Loss account (Since Liability in nature ) 7. We need to revalue SBP Liability at each BS Date ( even during exercise period). 8.Incase parent issues shares in SBP Plan of subsidiary In the books of P- INVSTEMENT IN S In the books of S- CAPITAL CONTRIBUTION FROM P 9. Incase subsidiary issues shares in SBP plan of P In the books of P- DIVIDEND INCOME In the books of S- DIVIDEND (EXPENSE) 10.EBE should be spread over the vesting period and not the waiting period. 11.Incase of Non market linked performance conditions – we have to reestimate vesting period 12. Incase of Market linked performance conditions – DON’T reestimate vesting period ( trick to remember this MP moves very rapidly so it is hectic task to re estimate it every year end) For more Important Notes, Updates & Amendment Notes join our below Channels👇 ╔╦═••°❀•°:🎁 ✠ 🎁:°•❀°••═╦╗ 🙈ℑoin CA Final Notes 👉 @CA_Final_NotesForAll 🙈Get Group wise Notes 👉 @Group1_CA_Final 👉 @Group2_CA_Final ╚╩═••°❀•°:🎁 ✠ 🎁:°•❀°••═╩╝