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00:00This is also a movement in your resources.
00:03Second, exchange of assets and liabilities that do not result in increase or decrease in equity.
00:09Contra-settlement.
00:10Contra-settlement.
00:11If we do contra-settlement, then our assets, receivables were decreasing and payables were decreasing.
00:18Both were decreasing.
00:19But there is no difference in your equity.
00:21So, this is a simple thing.
00:23But we can make an objective from here.
00:25Now, in the paper, he would say, what is an asset?
00:28We had read that only.
00:30Or he would ask what is income?
00:32Right, friends?
00:34So, what did we learn about income here?
00:36Anything that increases your assets, reduces your liabilities.
00:41What do we call that?
00:42It is called income.
00:43But, now he could also ask the objective.
00:46First, he could ask, what is income?
00:49Option A, increase in assets.
00:51Option B, decrease in liabilities.
00:54And what could option C do?
00:56He could ask, what is contribution from?
01:00Contribution from?
01:02Order.
01:03Contribution from order.
01:05And what was option 4?
01:06A and B. Both A and B.
01:08A and B.
01:10So, contribution from the order is income for us.
01:13No, it is not.
01:14Let's do one reading of this.
01:15Let's read it quickly.
01:18Objective 1 can take you from 40 to 50.
01:22Read it for Objective 1.
01:24There are questions for Objective 8 as well.
01:26I will tell you where they are from.
01:48I will tell you where they are from.
01:50Objective 8.
02:16Qualitative characteristics of financial information.
02:26He could ask the objective from here as well.
02:28Now, we have some fundamental characteristics.
02:32And some enhancing characteristics.
02:34Which are those?
02:36Fundamental and Enhancing characteristics.
02:40There are two fundamental characteristics.
02:44One is relevance.
02:46And the other is faithful representation.
02:52Relevance means that this information should be relevant to your decision making.
02:59You ask me,
03:01Sir, I want to invest in Pepsi.
03:07Sir, I want to invest in Pepsi.
03:12If I want to invest in Pepsi,
03:14Whose information should I give?
03:17What is the profit of Pepsi?
03:19How much dividend is given by Pepsi?
03:21Pepsi is this and Pepsi is that.
03:23And if I start telling you the benefits of Coke.
03:26If I start telling you the benefits of Nestle.
03:29So, will that information be relevant to you?
03:32No, it won't.
03:34Fundamental characteristics of any financial information are
03:43That whatever is being told to you is relevant to you.
03:48Now, you want to ask me about CAA.
03:51I will start telling you about ACC.
03:53I will start telling you about CMA.
03:56Now, I deal with CMA USA as well.
03:59Why didn't I get this child?
04:01Sir, should I do CMA as well?
04:03I will say, No.
04:05He doesn't say, Sir, if you manage this.
04:08No.
04:09I have a syndrome, he pays me.
04:11I say, do whatever you want.
04:14Sometimes, these front desk officers trap you.
04:17Sometimes, when you don't get a firm after CAF,
04:20They put you in ACC.
04:22And some children who enter and start paying in pounds.
04:25I have done CAF, now do article and final pass.
04:29Is CA less than anyone?
04:32Then, do CA.
04:34One child said, I have done CA.
04:37Now, he says,
04:38In fact, he used to say,
04:39During articles, everyone passed.
04:41Now, what should I do?
04:43I said, Son, do BSE.
04:45Then, do MSE.
04:47Then, do MPhil.
04:48And, do 2-4 small CIEA.
04:51He said, Are you mad?
04:52Do CA.
04:53Now, what to do?
04:54Just chill.
04:55You must have thought,
04:56If you have suffered for 4-5 years,
04:58Then, you will suffer more.
04:59I said, Just chill.
05:01Go, make lassi for people and take money.
05:04Is it right?
05:05So, whatever information you ask for,
05:07You should give it.
05:08So, what should be the information?
05:09If I am reading the financial statement of a generation,
05:12Then, the information should be
05:13The information of the generation's profitability,
05:15The information of EPS.
05:17Is it right?
05:18So, the information should be relevant.
05:20Second,
05:21The second is faithful representation.
05:23Faithful representation means,
05:25True and fair view.
05:28True and?
05:29True and?
05:30Fair view.
05:31What is the meaning of true?
05:33Free from error.
05:35What is the meaning of true?
05:37Free from error.
05:39How can the decisions taken on the basis of such information be correct?
05:48On the basis of that,
05:50Information is needed.
05:53So, what should be the first information?
05:55What is the meaning of true?
05:57Free from error.
05:58And what is the meaning of fair?
06:00Unbiased.
06:02What should be the information?
06:04It should be unbiased.
06:10For example,
06:11The company's profit is 99,000.
06:14How much?
06:15One lakh was the bonus for the managers.
06:20What was it?
06:21How much is the profit?
06:23How much change is needed for the bonus?
06:26They reduce the expense by 1,000.
06:30It is right.
06:32They reduce the discount allowed.
06:34They reduce the allowance for doubtful debt.
06:36They manipulate the information to benefit a particular group.
06:41What will we call it?
06:43Biased information.
06:44That they have called the information to benefit someone.
06:47How can the decisions taken on such biased information be correct?
06:55That is why,
06:57Never consult a biased person.
07:00Never ask a biased person a question.
07:04Never ask a biased person a history.
07:08If I have doubts about Shias,
07:13If I feel that I hate Shias,
07:17Then my argument against Shias will have no weight.
07:22Because I will be biased.
07:26Similarly,
07:27If you give a proof for Shias and Sunnis,
07:31And if they are biased,
07:33Then what you have biased,
07:36What you hate,
07:39How much you have brought realistic sources of history,
07:45Will not be reliable.
07:46Because you hate.
07:50So, don't consult a biased person. Because when he will give you advice, he will be emotional
07:58and will give you wrong advice. Consult an impartial person.
08:02As it is, advice is entrusted. For your personal interest, for 2-4 thousand or 2-4 lakhs, someone's
08:08life is ruined. Advice is entrusted by Allah.
08:13So, what should be the information? It should be unbiased. Consult an unbiased person.
08:19You will find many people in your city, scholars, whom you will respect in Dabandi, Barelvi,
08:24Ahl-e-Hadith, Shia and Sunni. And do you know who they are? They are unbiased.
08:30Biased means that you respect their religion.
08:34Be it an unbiased teacher, unbiased roommate, unbiased person, unbiased speaker, unbiased
08:44person. A biased person will always give you a biased opinion.
08:49So, the information in the financial statement should be biased.
08:53It should not be used to benefit any particular group.
08:57The bad debts, the allowance, the profit, the gain, the loss should be accurately reported
09:03to any particular group. For example, there is a director shareholder.
09:08Now, his intention is that I want to sell shares.
09:12And the financial statement is being made.
09:15If there is a profit in the financial statement of any company, then the share price of the
09:21market has decreased or increased? And what if there is a loss?
09:24Now, the one who is making the financial statement, whether it is the management or
09:27the auditor, tells him to reduce the loss.
09:31Show these expenses next year, increase the profit.
09:34He says, why? He says, I have sold shares.
09:36He says, what will you get? He says, whatever we earn, half and half.
09:39Radha, whatever we earn, half and half.
09:43What did he say? Now, the one who is making the profit, what is he doing?
09:47The accountant, the chartered accountant, the auditor, now he is not working objectively.
09:53With whom is he working? He is working with a bias list.
09:56So, two things are your qualitative characteristics.
10:00What are the fundamentals? What should be the first information?
10:03Relevant and the second information?
10:05What is it?
10:07Yes, the same.
10:09There are two parts of faithful representation.
10:11What are they?
10:13What does it mean?
10:15What does it mean?
10:17Unbiased information.
10:19Now, there are some enhancing characteristics ahead.
10:25Now, we have the enhancing qualitative characteristics.
10:28Do you know what it does in the paper?
10:30So, he will give you two.
10:32What is his name? Fundamental.
10:35Or he will give you three.
10:37He will give you one enhancing, one fundamental.
10:39He will say, which is the fundamental?
10:41So, he mixes and asks in this way.
10:43I will show you later.
10:45So, he gave, he said, which is the fundamental?
10:47Or which is the enhancing?
10:49Enhancing has two fundamentals.
10:51Which one is it?
10:52Fundamental characteristics are there.
10:54Which one is it?
10:55Relevant source.
10:57Faithful.
11:00Enhancing qualitative characteristics.
11:02Comparability.
11:04You have studied EPS.
11:05You have studied ratios.
11:07You cannot tell
11:09the position of the company
11:11given in this information.
11:15Mr. Khan, the profit of a company is 20 million.
11:17Or 20 billion.
11:19Is it good or bad?
11:21Last year, the profit was 30 billion.
11:23Is it good or bad?
11:25Now, you are saying it is good.
11:27Is it good or bad?
11:29Last year, it was not good.
11:31This is the thing.
11:33Do not make a decision until
11:35you know about the previous performance.
11:37Until you can compare the information.
11:39Our son is very good.
11:41Make a relationship with him.
11:43How much does he earn?
11:45He earns 10 lakhs.
11:47Wow, wow.
11:49So, we will ask, what does he do for a living?
11:51He takes care of children.
11:53Okay.
11:55How much did he earn before?
11:57How much does he earn now?
11:59He used to earn 17 lakhs before.
12:01Now, it is 9 lakhs.
12:03So, we will ask, what was his performance before?
12:05He earned 10 lakhs.
12:07So, make a relationship with him.
12:09Compare.
12:11He has a very good business.
12:13He has two factories.
12:15So, we need information.
12:17Compare.