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00:00Next, we have Contribution of Inventories.
00:07Does contribution have income or not?
00:10Tell me.
00:12Does contribution have income or not?
00:15Does contribution have income?
00:17Then we will write income.
00:19But in what form are you contributing?
00:22In the form of inventory.
00:25Whenever a person records an asset in his book,
00:30he records it on cost.
00:32So when we get a contribution,
00:35its cost will be equal to the fair value of that day.
00:42This means that
00:44if someone gives us an inventory,
00:47say medicine inventory or some other inventory,
00:50then what will be the cost of the book we record it on?
00:54Fair value.
00:55So this means that effectively,
00:57the contribution we get,
00:59we record it on fair value.
01:01On what?
01:02Fair value.
01:03But the value at which it is recorded,
01:05when an asset is recorded,
01:07what is it called?
01:08Cost.
01:09At what cost are you writing?
01:11So what will be the cost of that day?
01:13Fair value.
01:14What do you think, when should we record it?
01:23We will record it on the day of contribution.
01:26Let's say we give a contribution on 5th January,
01:28and we record it on 15th.
01:30So we will record it on the day of contribution.
01:33But what will be the cost of that?
01:35Fair value.
01:36And when we record it,
01:40at a particular year-end,
01:45if you are measuring it at the year-end,
01:49then what you have to take is
01:51lower-off.
01:54Lower-off cost and replacement cost.
02:02And what was its cost?
02:04What was it at that time?
02:06Fair value.
02:09So when it is year-end, we will see
02:11that today its cost
02:14or the lower-off from the replacement cost,
02:17what should we do with it?
02:19We should measure it.
02:26Right, friends?
02:28Keeping these things in mind,
02:30let's come to ICAB example number 15.
02:35And we have...
02:46We have page number 553.
02:51In our book, 553, 6.1.
02:54In our book, 553, 6.1.
03:03We have example number 17,
03:05and in our book, example number 15.
03:07In our book.
03:09In ICAB also, example number 15.
03:14Ladies and gentlemen,
03:15in this, he has given an example.
03:19Medicine of...
03:22Medicine for all is an NPO.
03:34Medicine for all is an NPO
03:36which provides medicine to communities
03:40living in underdeveloped areas
03:42at nominal charges.
03:44It has following inventories.
03:46It has.
03:47It has these inventories.
03:49What is the requirement?
03:50Calculate the amount of inventory
03:52that should be presented in the statement of
03:54financial position of medicine for all
03:57from above data.
03:59He got the first dollar.
04:01Someone gave it to him.
04:03Received in kind.
04:05People can give you donation in two ways.
04:08Cash and in kind.
04:10Cash means in kind,
04:12other than cash.
04:14Right, friends?
04:15He got the first dollar.
04:16Someone gave it to him.
04:18He got Neubrol.
04:19Who gave this to him?
04:21Neubrol to whom?
04:22Pain killer.
04:24And Imodium?
04:26Sir, for vomiting.
04:27For vomiting.
04:29Okay.
04:30And Imodium for what?
04:32Imodium.
04:33And who gave Imodium?
04:35Imodium.
04:39And what is written here?
04:40Rejection.
04:41Rejection.
04:42Hopefully ICAP has not written any bad bullet.
04:45All are good bullets.
04:47Anyway.
04:49Whatever he got,
04:51he said that today
04:53NRV is this.
04:55NRV is not of our interest.
04:57NRV is important for profit-seeking organization
05:01because it has to be sold.
05:04So, NRV is not relevant for us.
05:06By the way, in childhood,
05:07it will trouble us in objective
05:09because we have to measure inventory.
05:11So, NRV is of low cost.
05:14So, here he has given NRV
05:16to trap M.E.
05:18To detrack.
05:19Otherwise, NRV is
05:21expected selling price less.
05:23Expected cost sell.
05:25Does it mean that?
05:27No.
05:28Okay.
05:29Replacement cost.
05:30If we go to the market,
05:31we will get 26,000.
05:33And what is its fair value?
05:3528,000.
05:37So, on whom will we record?
05:39Lower of fair value
05:41and replacement cost.
05:44Okay, friends.
05:45Further, what he has purchased himself.
05:47NRV is not of interest.
05:49What he has purchased himself,
05:51he is saying that
05:52what was the cost of New Brawl?
05:5424,000.
05:55But if we go to the market to buy,
05:57how much will we get?
05:58So, on whom we have to report?
06:00Lower of cost and...
06:03Who said NRV?
06:05Who said NRV?
06:08Who was it?
06:11UPS people.
06:14Just now I told you
06:16that NRV is for its purpose.
06:29Who can be the NRV guy?
06:34What did you drink, son?
06:35Tea or lassi?
06:38Yes, my son.
06:39Did you drink tea or lassi?
06:41Did you drink water?
06:43Some people even drink water.
06:49Okay, let's move ahead.
06:51NRV.
06:52What does NPO mean?
06:54This is expected selling price.
06:56Less expected cost to sell.
06:58In Pakistan,
06:59NRV can be relevant.
07:01Because we take from people,
07:02donate and sell.
07:06Okay?
07:07In Pakistan, business NPO is applied.
07:09But it is applied conceptually,
07:11not practically.
07:12Practically, we will tell people
07:14that we have treated so many patients.
07:16Anyway.
07:17So, for you,
07:18NRV is relevant.
07:20So, we have to see cost and replacement cost.
07:24Now, what was your cost?
07:26You took 24,000 yourself.
07:28If we go to the market,
07:30how much will you get?
07:32Rs. 24,500.
07:33So, on whom we will report?
07:35Lower off.
07:36Look ahead.
07:37You took 12,000.
07:3812,000 for outside.
07:39So, we will write 12,000.
07:40Both are equal.
07:41You took 15,000 yourself.
07:42But outside, it is Rs. 14,700.
07:44So, we will take lower off.
07:45Rs. 14,700.
07:46And if,
07:47this one more bad pill is written.
07:49See, for whom it is written?
07:51Sir, for allergy.
07:53May Allah cure everyone with allergy.
07:55There is one type of allergy.
07:57Some treatment is found.
07:58Some treatment is found.
07:59Some treatment is not found.
08:01But, for those whose treatment is not found,
08:03we give them relief.
08:05So, if anyone is having any type of allergy,
08:08contact us.
08:10By the will of Allah,
08:11his treatment will be given relief.
08:13After that, he will never tell
08:15that he had allergy.
08:17Okay.
08:18Cost is Rs. 18,000.
08:20What is the replacement cost?
08:22So, you will write lower off.
08:24It means that,
08:25when we purchase,
08:26we will compare cost and replacement cost.
08:28We will compare the cost
08:29on the measurement date.
08:30We compare the cost.
08:31But, what someone gave us,
08:33what someone gave us,
08:35we never purchased it.
08:37So, the cost will not be relevant there.
08:39Then, our replacement cost
08:40and fair value, whichever is lower off.
08:43Are you understanding, mud walls?
08:46Read its complete English
08:48and see this example again,
08:49whether it is clear or not.
08:50Do it quickly, kids.
08:51Good.
08:53Why don't you come here?
08:55Why don't you come here?
08:57Do it regularly, son.
09:15Abdullah,
09:16what is the name of your friend?
09:18What is the name of your friend?
09:22Danish?
09:23Danish?
09:27Danish Taimur?
09:28Yes.
09:29Danish Aizawala?
09:31Danish, call any boy.
09:33Call whom?
09:34Call any boy.
09:35The one who came to the office.
09:37Give him a spotting star.
09:44Read it, son.
09:45It is your chance.
09:52Read it, son.
09:53Read it.
10:23One glass of water,
10:25two dishes of cream,
10:27and one tea.
10:52One glass of water,
10:53two dishes of cream,
10:54and one tea.
11:22One glass of water,
11:23two dishes of cream,
11:24and one tea.
11:25One glass of water,
11:26two dishes of cream,
11:27and one tea.
11:28One glass of water,
11:29two dishes of cream,
11:30and one tea.
11:31One glass of water,
11:32two dishes of cream,
11:33and one tea.
11:34One glass of water,
11:35two dishes of cream,
11:36and one tea.
11:37One glass of water,
11:38two dishes of cream,
11:39and one tea.
11:40One glass of water,
11:41two dishes of cream,
11:42and one tea.
11:43One glass of water,
11:44two dishes of cream,
11:45and one tea.
11:46One glass of water,
11:47two dishes of cream,
11:48and one tea.
11:49One glass of water,
11:50two dishes of cream,
11:51and one tea.
12:21One glass of water,
12:22two dishes of cream,
12:23and one tea.
12:24One glass of water,
12:25two dishes of cream,
12:26and one tea.
12:27One glass of water,
12:28two dishes of cream,
12:29and one tea.
12:30One glass of water,
12:31two dishes of cream,
12:32and one tea.
12:33One glass of water,
12:34two dishes of cream,
12:35and one tea.
12:36One glass of water,
12:37two dishes of cream,
12:38and one tea.
12:39One glass of water,
12:40two dishes of cream,
12:41and one tea.
12:42One glass of water,
12:43two dishes of cream,
12:44and one tea.
12:45One glass of water,
12:46two dishes of cream,
12:47and one tea.
12:48One glass of water,
12:49two dishes of cream,
12:50and one tea.
12:51One glass of water,
12:52two dishes of cream,
12:53and one tea.
12:54One glass of water,
12:55two dishes of cream,
12:56and one tea.
12:57One glass of water,
12:58two dishes of cream,
12:59and one tea.
13:00One glass of water,
13:01two dishes of cream,
13:02and one tea.
13:03One glass of water,
13:04two dishes of cream,
13:05and one tea.
13:06One glass of water,
13:07two dishes of cream,
13:08and one tea.
13:09One glass of water,
13:10two dishes of cream,
13:11and one tea.
13:12One glass of water,
13:13two dishes of cream,
13:14and one tea.
13:15One glass of water,
13:16two dishes of cream,
13:17and one tea.
13:18One glass of water,
13:19two dishes of cream,
13:20and one tea.
13:21One glass of water,
13:22two dishes of cream,
13:23and one tea.
13:24One glass of water,
13:25two dishes of cream,
13:26and one tea.
13:27One glass of water,
13:28two dishes of cream,
13:29and one tea.
13:30One glass of water,
13:31two dishes of cream,
13:32and one tea.
13:33One glass of water,
13:34two dishes of cream,
13:35and one tea.
13:36One glass of water,
13:37two dishes of cream,
13:38and one tea.
13:39One glass of water,
13:40two dishes of cream,
13:41and one tea.
13:42One glass of water,
13:43two dishes of cream,
13:44and one tea.
13:45One glass of water,
13:46two dishes of cream,
13:47and one tea.
13:48One glass of water,
13:49two dishes of cream,
13:50and one tea.
13:51One glass of water,
13:52two dishes of cream,
13:53and one tea.
13:54One glass of water,
13:55two dishes of cream,
13:56and one tea.
13:57One glass of water,
13:58two dishes of cream,
13:59and one tea.
14:00One glass of water,
14:01two dishes of cream,
14:02and one tea.
14:03One glass of water,
14:04two dishes of cream,
14:05and one tea.
14:06One glass of water,
14:07two dishes of cream,
14:08and one tea.
14:09One glass of water,
14:10two dishes of cream,
14:11and one tea.
14:12One glass of water,
14:13two dishes of cream,
14:14and one tea.
14:15One glass of water,
14:16two dishes of cream,
14:17and one tea.
14:18One glass of water,
14:19two dishes of cream,
14:20and one tea.
14:21One glass of water,
14:22two dishes of cream,
14:23and one tea.
14:24One glass of water,
14:25two dishes of cream,
14:26and one tea.
14:27This sum Jake
14:28is member
14:29K那麼的幾.
14:30We can transfer
14:31the data
14:32to these
14:33mass code names,
14:33and they can
14:34use
14:35these data
14:36for
14:36information.
14:37Next we have
14:38an important
14:39concept,
14:40that is
14:41collections.
14:42The collections
14:43that we have,
14:44are
14:46art work or any other item which is kept for educational, exhibition or research purposes.
15:08So, the collections are those which are of antique type.
15:17What happened?
15:18There can be a drawing of antique type,
15:21there can be a table or any other item,
15:24there can be books that someone donated to the NPO.
15:28I went to a restaurant in two places.
15:31I think I went there once in Ayutthaya and once in Bahrain.
15:35They have kept books.
15:37There is a restaurant.
15:38I don't remember the name.
15:41What?
15:46What is the name?
15:47What is in front of you?
15:49Anyway, I read the books.
15:50The books were very interesting.
15:52Interesting means good books.
15:55Right, friend?
15:56Anyway,
15:57if people come to the NPO,
15:59don't just sit there.
16:01If someone gives you an artwork in the form of a drawing
16:04or in the form of a book,
16:06what do we call them?
16:07Collections.
16:09What do we call them, brother?
16:10Collections.
16:11Now, these collections,
16:13because we have these unique assets,
16:15we separate them from our property, plant and equipment.
16:20What is this, brother?
16:22These are our unique items.
16:26That is why we call them
16:28separated from property, plant and equipment.
16:35Property, plant and equipment
16:36are normally those things
16:37whose lifespan is more than a year.
16:39And the lifespan of these collections
16:40is also more than a year, brother.
16:43So, these historically significant things
16:46or rare items,
16:47we separate them from property, plant and equipment
16:50or other intangible assets.
16:52What do we do with them, brother?
16:54We separate them.
16:57If there are books, we make a library.
16:59Right, friend?
17:00Or if there is some other item,
17:02it means that
17:03it is a different item from your regular material or regular assets.
17:10That is why we do not take it in the material.
17:13And neither do we classify it in the PP.
17:15What do we do with it?
17:16We write it separately.
17:17Is one thing clear?
17:19What do we do with these collections?
17:20We write a separate asset.
17:22Right, friend?
17:24Now, the next point is that
17:25if the NPO thinks
17:30that they will protect it properly
17:33and they have such resources,
17:35then it means that
17:36you can take advantage of them
17:41for a very long period
17:43which we can call
17:45indefinite time.
17:47The time which you cannot define.
17:49If you keep taking care of it for 5-10 years,
17:52you can take advantage of it for 20-30 years.
17:54So, you can take advantage of it for an indefinite period of time.
17:58What does indefinite mean?
18:00It means that you cannot define it.
18:02And what does infinite time mean?
18:04It means that there is no end to it.
18:07Yes, there is no end to it.
18:10Infinite means that there is no end to it.
18:13It cannot be indefinite for an infinite period of time.
18:16After all, there is only one death.
18:18There is only one death.
18:20Right?
18:21Yes, it can be indefinite.
18:23That you cannot define it.
18:26So, if you have the resources
18:28and you feel that you can take advantage of it for an indefinite period of time.
18:35What is this?
18:36Huh?
18:39This is what has happened.
18:41Till date, you have collected fines from people.
18:44Today, you have played your own ball.
18:48Why did you play?
18:49For 100 rupees.
18:51Take it out of one pocket and put it in another.
18:54Put it in the national treasury.
19:00This is called the help of Allah.
19:04Let's move ahead, viewers.
19:06Therefore, if management is expecting
19:10the indefinite life of these collections
19:14and they are thinking
19:16they are having sufficient resources
19:19to maintain these collections
19:22then depreciation charges will be imposed on these collections.
19:25Depreciation charges will be imposed on these collections.
19:27No.
19:28Depreciation charges will be imposed on rest of the PPE and rest of the astronauts.
19:31So, what was the point here?
19:33To teach these collections.
19:34If it comes to the question
19:36then you will not impose depreciation charges on the collections.
19:41But we will record it.
19:43We will record our assets.
19:45Is one year's benefit less or more?
19:47Less.
19:48So, should it be written in current or non-current?
19:50Non-current.
19:51Then it should be recorded.
19:57Say, friends,
19:58if capitalization is not banned
20:01then reporting it as an asset is compulsory.
20:04It is not a choice, it is mandatory.
20:06Reason?
20:07Someone has given you four or eight works.
20:10You did not report it.
20:12When it is not in the assets,
20:14two years later you will sell it.
20:15How would anyone know
20:16whether the assets are less or more?
20:18and sell it at an expensive price and take the money in your pocket.
20:21And if it sells for 1-2 crores,
20:24then we will make a house out of it
20:26and write on the walls of the house,
20:27Haaza min fazli rabbi.
20:32The people who have written big verses on the walls of their houses,
20:35all of them have a problem.
20:37Where did the money come from?
20:39From outside.
20:42So that is why,
20:45whatever collections you get,
20:48you have to capitalize them.
20:50Do you remember?
20:52You have to capitalize them and record them in your books
20:55so that people know that this is also an asset,
20:57but you have to depreciate it.
21:02I don't want to talk about it.
21:04I will talk about the important things.
21:08Some people have said very important things.
21:10This is the same thing that I was talking about the allergy.
21:16Some allergies have been treated,
21:19and some have not been treated yet.
21:22But what do we do to treat them?
21:25We give them medicine.
21:29The teacher is saying,
21:30there is no need for you to talk.
21:32I don't know who is saying this.
21:34But if they want to get themselves treated,
21:39then God willing, we will do it.
21:42If you want to get rid of one allergy,
21:45then treat the other one.
21:48By the way, I treat my clients daily after Asar.
21:52I treat all of them.
21:54If I treat all of them, it will take a month.
21:57I treat them only after Asar.
21:59I don't want it to affect all of them.
22:02I have a lot of clients.
22:06I tell everyone that I will treat them after Asar.
22:09I give them a message after Asar.
22:21Which one?
22:23Rehmaniyah Masjid.
22:25I usually go to Rehmaniyah Masjid after Asar.
22:29First, I put pressure on myself.
22:33Then I put pressure on them.
22:35Then I pray to God that
22:37the problems my clients are facing,
22:39I don't call them my disciples.
22:41What is it?
22:42Clients.
22:43They are my clients.
22:46Then I put pressure on them.
22:49There is one more prayer.
22:52This is not a pressure prayer.
22:54It is a prayer for the words.
22:56You will have to remember the rest.
22:58Abid Sahib says,
22:59Allahumma Rabbana,
23:00Anzil alayna,
23:02Ma'idatan min as-salai,
23:04Taqululana,
23:06Ma'idalli awwalina,
23:08Wa aakhirina,
23:09Wa ayatan min warzuqna,
23:11Wa anta khairul raziqin.
23:13Whoever recites this 11 times,
23:15and looks up at the sky,
23:17he will get whatever he wants.
23:22Are you back?
23:27Everyone is here.
23:29Astaghfirullahalladhi,
23:31La ilaha illa huwal hayyul kayyum wa tuhb ilayh.
23:35Whoever recites this 3 times,
23:37all his sins will be forgiven.
23:39Even if he runs away from war,
23:41his sins will be forgiven.
23:43Hasbiallahu la ilaha illa huwa alayhi
23:45tawakkaltu awwa rabbul arshil azeem.
23:47Even if he recites this 10 times
23:49with a false heart,
23:51his sins will be forgiven.
23:53If you need anything,
23:55recite this 10 times.
23:57Even if he recites with a false heart,
23:59with a false belief,
24:01Allah will give it to you.
24:03Wa anta sarme dargah,
24:05khali baaton kilaba kuch nahi lagayega.
24:07Dini baatein isli bidayi jati,
24:09aapne amal kana na kane.
24:11Mujhse expector na kata,
24:13ke main bhi amal karta hunga.
24:15Main pali isli display mein de deta hu.
24:17Baad hai meri koi gandi video tumhane
24:19tak aaya aur kahe ji,
24:21humein din ki baatein karte,
24:23humein bhut dekhe hai.
24:25Hai dekho ji,
24:27hypocrisy cha kare ji,
24:29munafakat.
24:31Aise aise kadne kaam karta,
24:33jitaan aage poochta,
24:35yaar aaya kaha se da idea.
24:37Ki aise ye jaise maulvi koi baat kari,
24:39ye na dekho baat kaun kar raha hai,
24:41ye dekho baat kiski ho rahi hai.
24:43Baat,
24:45ye dekho,
24:47ek aadmi,
24:49koi aap sunnat ki sunnat bata de,
24:51to aapne to ye dekha raha hai,
24:53sunnat kiski hai.
24:55Ye thoda dekha raha hai,
24:57bataan kaun raha hai.
24:59Koi maulvi ke maulviyon ko dekhe chala jaye,
25:01to 90% maulvi aise hai,
25:03ka aap to deen se nafrat ho jaye aapko.
25:05Isliye koi maulvi,
25:07koi daadi wala,
25:09koi amame wala,
25:11koi abaye wala humare liye hujjat nahi hai.
25:13Humare liye hujjat,
25:15Allah ke nabi sallallahu alaihi wa sallam,
25:17unke sahaba, ahle bait,
25:19humare liye to wo hujjat hai.
25:21Aaj kal ka chalta firta maulvi,
25:23tablighi, daawat islami,
25:25ahle deen, shia, sunni,
25:27saari duniya ke saare maulvi,
25:29agar daadi katwa de,
25:31hum daadi katwa de,
25:33humne rakhi kiske liye?
25:35Allah ke nabi ki sunnah,
25:37hum munchhe kiski sunnah tha?
25:39Hazrat Umar-e-Farooq ki sunnah.
25:41Aur maine kaah hai mere doston ko,
25:43mer jaun to mere munchhon ko
25:45vat de ke dal raha hai.
25:47Kyonke maine ye munchhe takboor ke wajah se nahi raha hai.
25:49Vat ki alaab,
25:51ek bade ne kaahna tha,
25:53ye vat dena jaayz nahi hai.
25:55Mujhe achi lagti maine,
25:57kisi ne mujhe farmaish ki,
25:59ke aap munchhe rakhe hain.
26:03Purane agar aap lecture dekhe to,
26:05munchhe saab hai.
26:07To kayi dafa kuch logon ki
26:09farmaish hain,
26:11nahi taali jati,
26:13munchhe rakhi nahi padhi.
26:15Munchhon ka vata de ke rakhte hain,
26:17magar Allah koi takboor nahi hai.
26:19Aaj se pehle jo kuch hua,
26:21Allah ne gaya.
26:23Aaj se pehle jo kuch hua,
26:25Allah ne gaya.
26:27Aaj se pehle jo kuch hua,
26:29Allah ne gaya.
26:31Jab aapke haath mein kuch nahi hai,
26:33to aap kya kar sak?
26:35Takboor kaisa hai?
26:37Yaha to aap koi bhot bhanne khaat cheez ho.
26:39Agar takboor ki wajah se ye vat de,
26:41vat dena jaayz nahi hai.
26:43Mere jaaze, Allahumma laqa sahi hi.
26:45To mere dost loga,
26:47main batto ke saath kabar mein jaana tha.
26:49I have a farishta,
26:51He came to my mother's funeral from Iran, Shahzaib.
27:02A lot of students came.
27:03Finals and other kids.
27:05Let's move forward, friends.
27:07Does anyone have any questions?
27:09Antiques, collections.
27:11What will these kids do with their books?
27:14They will record assets, but depreciate.
27:17If you find anything new in the paragraph, discuss it.
27:21That's it. The story is over.
27:23Read all the concerts.
27:25If there is one concert ahead, then yes.
27:27There is one half left.
27:28You read the entire collection, son.
27:33Before PTE, read the entire collection.
27:35And see if there is any problem, then ask.
27:43I say from the perspective of age.