
<p class="wp-block-paragraph"> Hello Dear CA Students,</p>



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
<p class="wp-block-paragraph"><em>We are Sharing With You CA Final Financial Reporting Important Points for Exam . So kindly Check Out our www.castudynotes.com website and ALL the Best for Your upcoming Exams.</em></p>
<cite>CA STUDY NOTES</cite></blockquote>


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<p class="wp-block-paragraph">FR Important Points &#8211;</p>



<ol class="wp-block-list">
<li>Ind AS 116 &#8211; Whether Lease Payments are to be considered at Year Beginning or Year End?</li>
</ol>



<p class="wp-block-paragraph">Lease payments are considered at year end except in following 2 cases where it is considered at year beginning:<br>(i) Specifically mentioned in question.<br>(ii) Hint given in question regarding the same like<br>&#8211;>; Lease incentive payable at beginning<br>&#8211;>; Payment is due at beginning date (eg. 1st January in case of calender year)</p>



<ol start="2" class="wp-block-list">
<li>Mainly Ind AS 116 &; 109 &#8211; Where to use Revised Discounting Rate &; Original Discounting Rate?</li>
</ol>



<p class="wp-block-paragraph">In whole FR, Revised Discounting Rate is used except in following 4 cases where Original Discounting Rate is used:<br>(i) Ind AS 109: Modification of FA [Step 2]<br>(ii) Ind AS 109: Modification of FL [Step 1]<br>(iii) Ind AS 116: Case B Modification [Step 5 &#8211; Gain/loss due to decrease in lease term]<br>(iv) Ind AS 116: Insignificant Remeasurement</p>



<ol start="3" class="wp-block-list">
<li>Mainly Ind AS 116 &; 109 &#8211; Format for calculation of PV when there are same cash flows in each period</li>
</ol>



<p class="wp-block-paragraph">It can be done either</p>



<ol class="wp-block-list">
<li>Using PVAF or</li>



<li>Making full table &; taking separate PV factors<br>Both formats are allowed (minor round off difference can arise, which is allowed in exams)</li>



<li>Ind AS 109 &#8211; Whether Convertible Instrument is Compulsory Convertible or Convertible at Option of Holder/Issuer?</li>
</ol>



<p class="wp-block-paragraph">It is assumed as convertible at option of holder unless specifically mentioned in question</p>



<p class="wp-block-paragraph">ð♂By CA Ajay Agarwal </p>



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