✅CA Final || AFM Chapterwise Marks - Trend Analysis | for Nov 24

👨🏻‍🎓 By CA Divyesh Vaghela

Chapterwise Weightage from May 18 to May 24
(Included ICAI New Course Weightage also)

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⬅️ AFM MCQ Booklet
🔗 Theory Colorful Notes
📍 AFM IMP Questions List

✅CA Final || AFM Most Important Questions for Nov 24 :

👨🏻‍🎓 By CA Divyesh Vaghela

A Google Drive link of past papers mentioned in list is provided on last page of PDF.

🔗 Before Following IMP - Must watch this video of Strategy to Score Exemption

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➡️ AFM Theory Colorful Notes (Must Do)
https://t.me/Divyesh_Vaghela/1435

💽 AFM MCQ Booklet
👁 Chapterwise Marks - Trend Analysis

Group 1 Students - Start FR Preparation from today.

It's time for Action & give 100% efforts.

Cover as much syllabus as you can.

You still have the enough time,

I have uploaded all FR Resources for you.

Follow all tips & detailed analysis that I told in video & cover all IMP ques perfectly.
https://youtu.be/yi7JI665JRk

Refer Ind AS in the same priority order which i have given.

I know you can do it. ✅

Let's buckle up yourself. Abhi Rukna nahi hai !

⬅️ Download FR All Resources from here...
(Important List, Trend Analysis, must do ind as, may 24 actual exam mcq)

✅CA Final || FR IND AS Priority Order Nov 24 Exam :

👨🏻‍🎓 By CA Divyesh Vaghela

🔗 Must Follow this video - Strategy to Score Exemption

✅CA Final | FR May 24 MCQ Paper with answer :

With Detailed analysis of each question - must refer it.

👨🏻‍🎓CA Divyesh Vaghela

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FR All Resources
AFM All Resources

✅CA Final || FR Chapterwise Marks - Trend Analysis | for Nov 24

👨🏻‍🎓 By CA Divyesh Vaghela

══════ ♢.✰.♢ ══════

Chapterwise Weightage from May 18 to May 24
(Included ICAI New Course Weightage also)

📍 FR IMP Questions List
⬅️ IND AS Priority Order
👁 AFM Chapterwise Marks - Trend Analysis, Theory Notes, Bos MCQs & IMP List

✅CA Final || FR Most Important Questions for Nov 24 :

👨🏻‍🎓 By CA Divyesh Vaghela

A Google Drive link of past papers mentioned in list is provided on last page of PDF.

🔗 Before Following Imp, Must watch this video - FR Most Scoring Strategy

══════ ♢.✰.♢ ══════

➡️ FR Chapterwise Marks - Trend Analysis
https://t.me/Divyesh_Vaghela/1476

⬅️ AFM Chapterwise Marks - Trend Analysis, Theory Notes, Bos MCQs & IMP List

✅ Important Points in Preparation of Schedule 3 Division 2 Financial Statements (Useful for Analysis of FS Chapter)

A Compilation of All Adjustments asked in Previous Exams/ RTPS / MTPS.
By CA Divyesh Vaghela

✨ IMP Que from ICAI SM - Case Study 1, 2, 3, 4
TYK - Q. 1, 4

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✅ 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


🔗 FR Important Questions List for Nov 24
https://t.me/Divyesh_Vaghela/1477

⬅️ AFM Chapterwise Trend Analysis, Theory Notes, Bos MCQs & IMP List

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𝕵𝖔𝖎𝖓 ➨ @Divyesh_Vaghela✅

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✅ Summary of IND AS 115 – Revenue from Contracts with Customers

👨🏻‍🎓 By CA Divyesh Vaghela

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🔗 FR Important Questions List for Nov 24
https://t.me/Divyesh_Vaghela/1477

1. If the variable consideration is constraint then don’t include in transaction price. If the Variable consideration is not constraint (That is there Is High probability that significant reversal will not Occur) then we will include it in the transaction price.

2. The consideration for the goods which will be returned will not be recognised.

3. Discount rate to be taken In case of significant financing component

- The rate that would be applied if a separate financing transaction was done (INCREMENTAL BORROWING RATE)
- If not available then IRR.

4. Non cash consideration (that is in case of barter) Lacks commercial substance - NO REVENUE RECOGNITION

Has commercial substance-

- FAIR VALUE of consideration received
- If not available then STANDALONE SELLING PRICE OF ASSET GIVEN UP

5. Subsequent changes in the fair value of the non cash consideration due to change in its form cannot be adjusted to its transaction price

6. In case of sale and repurchase revenue should not be recognised

- If repurchase price > selling price : Loan (Since we are paying back more it will be considered as paying back the loan along with the interest )

- If repurchase price < selling price : Lease (Since we are paying back less we will assume that we have given it for lease so we are deducting lease rent and only balance security deposit we are giving back)

7. In case of discount voucher or points we need to credit LIABILITY ON CUSTOMER LOYALTY PROGRAM account and transfer to revenue only when it is redeemed or when the voucher has expired.

8. In case of contract acquisition cost - recognise as an asset and amortise over the period of the contract (including renewal period)

9. In Case of contract fulfilment cost

- If covered under other Ind as - as per other Ind as
- If not covered-recognise as an asset and amortise over the period of the contract (including renewal period)

10. Service concession (Eg toll road)

- If unconditional right to receive cash-Financial assets
- Right to operate or collect toll-Intangible asset

⬅️ AFM IMP List, Theory Notes, Chapterwise Trend Analysis, BOS MCQs

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𝕵𝖔𝖎𝖓 ➨ @Divyesh_Vaghela✅️

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✅ 56 Marks FR Questions were asked from Important List provided

Very limited number of questions given in list & then also exact same questions came 😍

➡️ Check that Important Questions List
https://t.me/Divyesh_Vaghela/1477

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📍 Q.1 - Ind As 110 (14 Mark) - drafted from TYK 5

📍 Q.3a - Ind As 40 (8 Mark) - TYK 8

📍 Q.4a - Ind As 16 (6 Mark) - Similar to Illustration 13

📍 Q.4b - Ind As 102 (8 Mark) - Similar to Illustration 10 & TYK 8

📍 Q.5a - Ind As 115 (5 Mark) - RTP May 19 - Q.4

📍 Q.5c - Ind As 1 (4 Mark) - TYK 9

📍 Q.6b - Ind As 16 (5 Mark) - TYK 9

MCQs Case Study - Tara Ltd. (6 Mark)
Below Same Questions were asked
IND AS 37 - TYK 1
IND AS 115 - Illustration 65
IND AS 108 - TYK 4


Remaining question concepts were also covered in Imp, but only questions with the exact same wording are listed here.

Note - I haven't given 300-400 imp questions. Very limited number of questions were given as highly important from each chapter.

Download AFM All Resources
📍 AFM IMP Questions List
🔗 AFM MCQ Booklet
⬅️ Chapterwise Marks - Trend Analysis
🔗 Theory Colorful Notes

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𝕵𝖔𝖎𝖓 ➨ @Divyesh_Vaghela✅️

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✅CA Final | AFM Other Chapters Newly added Theory in ICAI SM 2024 :

👨🏻‍🎓 By CA Divyesh Vaghela

It is advisable to Focus on pure theory chapters only as all questions will be from them. Just one theory question can be asked from other chapters, so for other chapters, focus more on practical.

Still if you want for other chapters theory you can refer only newly added topics as high chances that icai can test from it.

First Must Refer this 5 Main Theory Chapters Notes
https://t.me/Divyesh_Vaghela/1435

Analysis of Que Asked in May 24 Exam

✅CA Final | AFM Theory Colorful Notes :

👨🏻‍🎓 By CA Divyesh Vaghela

☑️ Coverage

➨ Covered 5 Main Theory Chapters
➨ Bolded Imp points & Keywords
➨ All Possible Variations that can be asked given in question form with topic as 'OR'
➨ Newly added theory specifically written

Nov 24 RTP & MTP Everything covered

📍It's not summary or only headings notes. it have Exhaustive coverage in a well-presented, formatted, & concise manner.

AFM All resources
📍 AFM IMP Questions List
🔗 AFM MCQ Booklet
⬅️ Chapterwise Marks - Trend Analysis