Silvia, you're the best. Couldn't find anyone better than you. You're simply remarkable.
@tanyajenifer43787 жыл бұрын
So helpful Silvia. Thank you very much! Understood clearly :) So confident about IAS 37 now.
@flamezilla4 жыл бұрын
This summaried everything perfectly, thank you so much
@moonhanaa4 жыл бұрын
Thank you for doing this, Silvia. You helped me a lot! God bless you with your life and career!
@ashishk8805 жыл бұрын
I'm well equipped with the foundations of complex understandings. Thanks a Ton!
@MrKillie19787 жыл бұрын
Thank you for doing this Silvia.
@WaqarAhmed-ze7iu5 жыл бұрын
Very good efforts for IFRS revision and understanding, thanks Silvia.
@eyiyemiwilliams48362 жыл бұрын
Amazing. Well understood. Many thanks Silvia🙏
@zenebesisay30505 жыл бұрын
oh I delighted realy, I got info. about you from my instructor of Advansed Accounting. I greatly want to appreciate you. You are giving us huge asset un perishable asset realy. Your lecture solved my problem as all. Thank you very mach
@morathipetrus27516 жыл бұрын
love your work i learn a lot from this channel
@moamenomarali69454 жыл бұрын
Great presentation! Thanks Silvia
@SyedaFatima-vv3xm2 жыл бұрын
Your way of teaching is amazing! Your video helped me a lot to clear basic concepts wrt IAS 37. Best wishes for you mam :)
@maryjavasilyevna861 Жыл бұрын
Great summary, thank you for your work, Silvia
@abidkhanacma52307 ай бұрын
Silvia, you really are an excellent teacher.
@shikhanair59477 жыл бұрын
your sessions are very helpful.. thanks a lot.
@yinuoliu36967 жыл бұрын
Your explanation is much better than my lecture!!! Thank you so much for sharing!
@mariasehreen6946
5 жыл бұрын
A company has purchased a plant for Rs. 5 million with an estimated useful life of 10 years. In order to provide funds for replacement of plant the company has decided to create provision with equal amounts for ten years. Therefore; the company debited “Plant replacement charges” and credited “Provision for Plant replacement” in current year’s financial statements. Comment and explain, whether the above provision meets the requirements of IAS 37? can you please answer me ?
@sachinmayakrishnan7432
4 жыл бұрын
There is no obligation to replace the machinery, hence condition is violated, cannot charge a provision.
@debysuccess3728 Жыл бұрын
Thanks Silva, Deby from Nigeria 🇳🇬 👏 🙌 👍
@alialjanabi68858 жыл бұрын
that's great thank you so much.
@Mad4TheGooners7 жыл бұрын
Thank you!! Could do with you being my lecturer I would understand more
@sabrinasultana60793 жыл бұрын
I have learned a lot of this video.thank you so much
@c.hoedeman4548 жыл бұрын
This is great.
@arunnz8 жыл бұрын
Thanks Silvia..
@donatasmendelis15947 жыл бұрын
Great job!
@samratdas255 жыл бұрын
hello Silvia, thanks for sharing this nice video. I have one question related to provision which is unused provision say for restructuring provision part amount is unused sitting in my balance sheet .Therefore what should be proper accounting treatment for this? Shall i used this unused provision to some other provision directly or will hit back amount first in profit & Loss than form there i will use amount to some other provision.
@vicky20928 жыл бұрын
too helpful....thanks for knowledge sharing!
@mariasehreen6946
5 жыл бұрын
A company has purchased a plant for Rs. 5 million with an estimated useful life of 10 years. In order to provide funds for replacement of plant the company has decided to create provision with equal amounts for ten years. Therefore; the company debited “Plant replacement charges” and credited “Provision for Plant replacement” in current year’s financial statements. Comment and explain, whether the above provision meets the requirements of IAS 37? Can you please answer me ??
@tafadzwachiwanza24305 жыл бұрын
YOU ARE THE BEST
@tharakasandaruwan33768 ай бұрын
Good one. Thank you.
@aishaabdi65784 жыл бұрын
East west Silvia you are the best
@tobiolukayode687 жыл бұрын
Great job.
@ziaulislam53196 жыл бұрын
Outstanding
@winnifridannko48908 ай бұрын
Thank you Sylvia for wonderful videeo. Please do some videos on IPSAS too.
@clemencetambudze99178 жыл бұрын
oh my wonderfull
@adamshaded90307 жыл бұрын
thank you so much
@francischewe31964 жыл бұрын
Excellent!!!!
@temitopenoahomorinoye5 жыл бұрын
Good lectures on IAS 37. please i need a clarification on comparing and contrasting the requirement of IFRS 3 and IAS 37 in respect of restructuring provisions and contingent liabilities.
@caasifsafder34035 жыл бұрын
Thanks a lot....👍👍👍👍👍👍👍
@sayefuts9 жыл бұрын
Hey Silvia, could u plz explain IAS 11 inclusive of survey percentage & all..It will be so nice of u..
@pradeepmishra44367 жыл бұрын
very helpful ..where to get ifrs kit ? is this on youtybe?
@arwaromaizan88063 жыл бұрын
thank you very very very much
@moonakamwani3319 Жыл бұрын
Hello , I need IFRS KIT can you please provide me , thank you
@drallisimo348 жыл бұрын
cool!!!
@iammayorh4 жыл бұрын
Thank you, you are a brain
@abdullaalturabi65265 жыл бұрын
I just want to know where is provision and impairment. Both are recorded under which financial statement????
@suryareddy64896 жыл бұрын
hi silvia , what you are dng is just amazing but a small suggestion, instead of giving a direct link of site in description area plz provide a specific descriptions which makes a time saving for us thank you...
@olonamchumo75373 жыл бұрын
Thank you
@shammiemoyoh7 жыл бұрын
Thanks
@peterhackman411712 күн бұрын
Pls why must we convert it to future value (9:28) of the video
@mariasehreen69465 жыл бұрын
A company has purchased a plant for Rs. 5 million with an estimated useful life of 10 years. In order to provide funds for replacement of plant the company has decided to create provision with equal amounts for ten years. Therefore; the company debited “Plant replacement charges” and credited “Provision for Plant replacement” in current year’s financial statements. Comment and explain, whether the above provision meets the requirements of IAS 37? can you please answer me ?
@pradeepsigdel2659 жыл бұрын
Is loan commitment by banks & financial institution considered as contingent liability?
@ANA-db9yn
8 жыл бұрын
Bank loan isn't contingent liability, it's definite liability. Letter of "guaranty" is contingent liability and should be disclosed.
@Eman-dg9ww
5 жыл бұрын
I have no accounting background now I am doing acca so can you help me
@gurjinderjit74877 жыл бұрын
do we consolidate contingent liability and do we eliminate it
@avejshaikh9095
2 жыл бұрын
Why on God's green earth you would consolidate CONTINGENT LIABILITY? It is just mentioned in the disclosure NOT AN ACTUAL LIABILITY BOOKED in the book.
@josiasnkwana92822 жыл бұрын
please help me identify a provision before recognition, please help me Identify a provision in terms of the definition
@vietnx8 жыл бұрын
Hi this is great. thanks for posting this detail explanation of IAS 37. I have a specific case that I'm still not clear about, hope you could help to clarify. Specifically, this has to do with the airlines industry, where leased aircraft, and sometime purchased aircraft, have major future maintenance costs associated with them, for the life of the asset. These costs often are detailed in the lease agreements, or maintenance agreement in the case of purchased aircraft. The maintenance costs, therefore should be provisioned for. But since the provision will be quite large, and are spread over a long period of time, I imagine we should not expense the whole amount upfront in year when the assets are acquired (leased or otherwise). How should I treat this provision in the first year, and how should I "expense" them when the cost are due. Should I book a corresponding asset account (pre-payment?) against the provision entry in the first year? Then as the aircraft as used (by hour flown), amortize that assets account against a reversal of the original provision? In this case, should I also book an expense against cash to recognize the actual maintenance expenses? Thanks for your help!
@CPDbox
7 жыл бұрын
Hi Viet, sorry for the terribly late response - I respond to similar questions directly on my web. Well, when you assume the future maintenance costs, you do NOT make a provision, but you capitalize them in the cost of your asset when they occur. Then you depreciate them separately, over the period until the next maintenance. It's in IAS 16.
@dhananjayamadhusankajayara8443 жыл бұрын
Wow
@cin21985 жыл бұрын
you look like pheobe from Friends
@mattfoster8545 жыл бұрын
Hi, I have an URGENT question, my exam is Tuesday. I was doing some question practice, and came across one which created a provision for a court case (it was highly likely the company would have to pay the other party). My question is, if a provision must be a present obligation, how can a court case be a provision. The same goes for when a company creates a provision for doubtful debts. How can the outcome of a court case be a provision, if it has no outcome yet?
@CPDbox
5 жыл бұрын
If it's that URGENT :) - the present obligation must have arisen based on some past event. Your past event here is not the court proceedings and their outcome themselves, but the act that lead to the court (you damaged something, caused something, harmed someone...). So there is a past event. Then you assess the probability of having to pay. If it is highly likely that you will have to pay based on expected result of your court, then you have a present obligation here, even if the court proceedings have not been finished yet. That's coming from the standard. As for doubtful debts - this is a completely different story. I don't like to call it "provision", because it is NOT a provision under IAS 37. Instead, it is an impairment of financial assets, you need to follow IFRS 9, not IAS 37 in this case, thus you are NOT assessing any present obligation, past event or so. You are assesing expected credit loss instead.
@lukasplx93307 жыл бұрын
Lovely accent -> Slovakia, am I right?
@CPDbox
7 жыл бұрын
Jasne ;)
@ldudrik
6 жыл бұрын
Tiež som si to hneď myslel. Veľmi dobre nahovorené a zrozumiteľné. Ďakujem. 😀
@kobbo4069 Жыл бұрын
tum beste
@neomahlangu40733 жыл бұрын
saze safa sibancane
@eutube907 жыл бұрын
If only you would do business analysis too
@CPDbox
7 жыл бұрын
Not in this summary, I'm sorry, that was not the purpose of it. :)
Пікірлер: 73
Thanks for watching! Let’s connect: *Newsletter: www.cpdbox.com/ *LinkedIn: www.linkedin.com/in/silviamahutova/ *Instagram: instagram.com/cpdbox/
Silvia, you're the best. Couldn't find anyone better than you. You're simply remarkable.
So helpful Silvia. Thank you very much! Understood clearly :) So confident about IAS 37 now.
This summaried everything perfectly, thank you so much
Thank you for doing this, Silvia. You helped me a lot! God bless you with your life and career!
I'm well equipped with the foundations of complex understandings. Thanks a Ton!
Thank you for doing this Silvia.
Very good efforts for IFRS revision and understanding, thanks Silvia.
Amazing. Well understood. Many thanks Silvia🙏
oh I delighted realy, I got info. about you from my instructor of Advansed Accounting. I greatly want to appreciate you. You are giving us huge asset un perishable asset realy. Your lecture solved my problem as all. Thank you very mach
love your work i learn a lot from this channel
Great presentation! Thanks Silvia
Your way of teaching is amazing! Your video helped me a lot to clear basic concepts wrt IAS 37. Best wishes for you mam :)
Great summary, thank you for your work, Silvia
Silvia, you really are an excellent teacher.
your sessions are very helpful.. thanks a lot.
Your explanation is much better than my lecture!!! Thank you so much for sharing!
@mariasehreen6946
5 жыл бұрын
A company has purchased a plant for Rs. 5 million with an estimated useful life of 10 years. In order to provide funds for replacement of plant the company has decided to create provision with equal amounts for ten years. Therefore; the company debited “Plant replacement charges” and credited “Provision for Plant replacement” in current year’s financial statements. Comment and explain, whether the above provision meets the requirements of IAS 37? can you please answer me ?
@sachinmayakrishnan7432
4 жыл бұрын
There is no obligation to replace the machinery, hence condition is violated, cannot charge a provision.
Thanks Silva, Deby from Nigeria 🇳🇬 👏 🙌 👍
that's great thank you so much.
Thank you!! Could do with you being my lecturer I would understand more
I have learned a lot of this video.thank you so much
This is great.
Thanks Silvia..
Great job!
hello Silvia, thanks for sharing this nice video. I have one question related to provision which is unused provision say for restructuring provision part amount is unused sitting in my balance sheet .Therefore what should be proper accounting treatment for this? Shall i used this unused provision to some other provision directly or will hit back amount first in profit & Loss than form there i will use amount to some other provision.
too helpful....thanks for knowledge sharing!
@mariasehreen6946
5 жыл бұрын
A company has purchased a plant for Rs. 5 million with an estimated useful life of 10 years. In order to provide funds for replacement of plant the company has decided to create provision with equal amounts for ten years. Therefore; the company debited “Plant replacement charges” and credited “Provision for Plant replacement” in current year’s financial statements. Comment and explain, whether the above provision meets the requirements of IAS 37? Can you please answer me ??
YOU ARE THE BEST
Good one. Thank you.
East west Silvia you are the best
Great job.
Outstanding
Thank you Sylvia for wonderful videeo. Please do some videos on IPSAS too.
oh my wonderfull
thank you so much
Excellent!!!!
Good lectures on IAS 37. please i need a clarification on comparing and contrasting the requirement of IFRS 3 and IAS 37 in respect of restructuring provisions and contingent liabilities.
Thanks a lot....👍👍👍👍👍👍👍
Hey Silvia, could u plz explain IAS 11 inclusive of survey percentage & all..It will be so nice of u..
very helpful ..where to get ifrs kit ? is this on youtybe?
thank you very very very much
Hello , I need IFRS KIT can you please provide me , thank you
cool!!!
Thank you, you are a brain
I just want to know where is provision and impairment. Both are recorded under which financial statement????
hi silvia , what you are dng is just amazing but a small suggestion, instead of giving a direct link of site in description area plz provide a specific descriptions which makes a time saving for us thank you...
Thank you
Thanks
Pls why must we convert it to future value (9:28) of the video
A company has purchased a plant for Rs. 5 million with an estimated useful life of 10 years. In order to provide funds for replacement of plant the company has decided to create provision with equal amounts for ten years. Therefore; the company debited “Plant replacement charges” and credited “Provision for Plant replacement” in current year’s financial statements. Comment and explain, whether the above provision meets the requirements of IAS 37? can you please answer me ?
Is loan commitment by banks & financial institution considered as contingent liability?
@ANA-db9yn
8 жыл бұрын
Bank loan isn't contingent liability, it's definite liability. Letter of "guaranty" is contingent liability and should be disclosed.
@Eman-dg9ww
5 жыл бұрын
I have no accounting background now I am doing acca so can you help me
do we consolidate contingent liability and do we eliminate it
@avejshaikh9095
2 жыл бұрын
Why on God's green earth you would consolidate CONTINGENT LIABILITY? It is just mentioned in the disclosure NOT AN ACTUAL LIABILITY BOOKED in the book.
please help me identify a provision before recognition, please help me Identify a provision in terms of the definition
Hi this is great. thanks for posting this detail explanation of IAS 37. I have a specific case that I'm still not clear about, hope you could help to clarify. Specifically, this has to do with the airlines industry, where leased aircraft, and sometime purchased aircraft, have major future maintenance costs associated with them, for the life of the asset. These costs often are detailed in the lease agreements, or maintenance agreement in the case of purchased aircraft. The maintenance costs, therefore should be provisioned for. But since the provision will be quite large, and are spread over a long period of time, I imagine we should not expense the whole amount upfront in year when the assets are acquired (leased or otherwise). How should I treat this provision in the first year, and how should I "expense" them when the cost are due. Should I book a corresponding asset account (pre-payment?) against the provision entry in the first year? Then as the aircraft as used (by hour flown), amortize that assets account against a reversal of the original provision? In this case, should I also book an expense against cash to recognize the actual maintenance expenses? Thanks for your help!
@CPDbox
7 жыл бұрын
Hi Viet, sorry for the terribly late response - I respond to similar questions directly on my web. Well, when you assume the future maintenance costs, you do NOT make a provision, but you capitalize them in the cost of your asset when they occur. Then you depreciate them separately, over the period until the next maintenance. It's in IAS 16.
Wow
you look like pheobe from Friends
Hi, I have an URGENT question, my exam is Tuesday. I was doing some question practice, and came across one which created a provision for a court case (it was highly likely the company would have to pay the other party). My question is, if a provision must be a present obligation, how can a court case be a provision. The same goes for when a company creates a provision for doubtful debts. How can the outcome of a court case be a provision, if it has no outcome yet?
@CPDbox
5 жыл бұрын
If it's that URGENT :) - the present obligation must have arisen based on some past event. Your past event here is not the court proceedings and their outcome themselves, but the act that lead to the court (you damaged something, caused something, harmed someone...). So there is a past event. Then you assess the probability of having to pay. If it is highly likely that you will have to pay based on expected result of your court, then you have a present obligation here, even if the court proceedings have not been finished yet. That's coming from the standard. As for doubtful debts - this is a completely different story. I don't like to call it "provision", because it is NOT a provision under IAS 37. Instead, it is an impairment of financial assets, you need to follow IFRS 9, not IAS 37 in this case, thus you are NOT assessing any present obligation, past event or so. You are assesing expected credit loss instead.
Lovely accent -> Slovakia, am I right?
@CPDbox
7 жыл бұрын
Jasne ;)
@ldudrik
6 жыл бұрын
Tiež som si to hneď myslel. Veľmi dobre nahovorené a zrozumiteľné. Ďakujem. 😀
tum beste
saze safa sibancane
If only you would do business analysis too
@CPDbox
7 жыл бұрын
Not in this summary, I'm sorry, that was not the purpose of it. :)
@mhprotic
4 жыл бұрын
@@CPDbox please check my query