Buy Dideo Subscription
FinTree website link: http://www.fintreeindia.com FB Page link :http://www.facebook.com/Fin... We love what we do, and we make awesome video lectures for CFA and FRM exams. Our Video Lectures are comprehensive, easy to understand and most importantly, fun to study with! This Video lecture was recorded by our popular trainer for CFA, Mr. Utkarsh Jain, during one of his live CFA Level II Classes in Pune (India). This video covers following key area's: 1:10 Permissible inventory cost flow methods in IFRS and US GAAP 1:25 Concept of LIFO reserve 5:43 Inventory Valuation method of US GAAP and IFRS ★★ IFRS: Inventory is reported at lower of Cost or NRV, Inventory write up is allowed to the extent of previous write down. ★★US GAAP: Inventory is reported at lower of Cost or Market, No Subsequent write up's are allowed 9:00 Asset Valuations model allowed under US GAAP and IFRS ★★IFRS : Cost model or Asset Revaluation Model ★★ US GAAP: Cost Model 11:41 Asset Impairment under US GAAP vs IFRS ★★IFRS : Compare Carrying Value vs Recoverable Amount ( Recoverable amount is greater of Net Realisable Value or Value in use) ★★US GAAP: Impairment loss is calculated in two steps: Step no 1: Compare Carrying Value vs undiscounted Future Cash Flow's Step no 2: Impairment Loss : Carrying value - Discounted future cash flow's 17:29 Impairment of Goodwill in IFRS vs US GAAP 22:00 Recognition of lease as either Operating Lease or Finance Lease in IFRS and US GAAP ★★ IFRS : Based on Economic Substance ★★ US GAAP : Recognise as Finance Lease if one of the following four criteria's are met: 1. Title Transfer Clause 2. Bargain Purchase Clause 3. PV of Lease payments are greater than 90% value of Asset 4. Lease Tenure is greater than 75% life of the asset 38:46 Accounting for Business Combinations in IFRS and US GAAP ★ Merger In IFRS ★Acquisition in IFRS ★ Consolidation in IFRS ★ Acquisition Method vs Pooling of Interest Method 41:45 Full Goodwill vs Partial Goodwill ★★ IFRS : Both Full and Partial Goodwill Allowed ★★ US GAAP: Full Goodwill #CFA #FinTree
