Trick to remember IND AS through story telling.

In this video, I’ll show you an easy and fun trick to remember all the important IND AS (Indian Accounting Standards) through a simple story-based method. Whether you're a CA, CMA, or accounting student, this memory hack will make recalling IND AS feel effortless. No more boring lists or rote learning—just an engaging story that sticks in your mind. Perfect for exam prep or interviews!

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📜 The Golden Hunt — Memory Story for Ind AS

The Journey Begins
• Ind AS 1 — Presentation of Financial Statements
➔ The journey starts with the presentation of a map titled "The Golden Hunt."

Warehouse and Dragon Encounter
• Ind AS 2 — Inventories
➔ You find a warehouse with two golden doors (remember "2" = "two doors").
• Ind AS 7 — Statement of Cash Flows
➔ After climbing seven crystal stairs, you open the door and see a giant dragon, from whose mouth gold coins pour out.
• Ind AS 8 — Accounting Policies, Changes in Accounting Estimates and Errors
➔ Before starting, you estimated finding gold worth Eight truckload, but after entering, your estimates and policies changed.
• Ind AS 10 — Events After the Reporting Period
➔ You were outside (reporting) but once inside, the dragon woke up — a major event after reporting.

Meeting the Dragon
• Ind AS 12 — Income Taxes
➔ The dragon warns, "All this gold belongs to Nirmala Tai! Income taxes are huge, dare to touch!"
• Ind AS 16 — Property, Plant, and Equipment
➔ As a gift for reaching this far, the dragon gives you 16 lavish properties (link 16 = sweet 16 properties).
• Ind AS 17 — Leases
➔ Since 17 is considered unlucky, the dragon advises: "Lease out the property on the 17th!" and earn income.

Setting Up Revenue and Benefits
• Ind AS 18 — Revenue
➔ You earn revenue like Virat Kohli (jersey no. 18) while setting up a TV to watch cricket.
• Ind AS 19 — Employee Benefits
➔ The dragon cries: "After sacrificing since the 19th century, I only got employee benefits."
• Ind AS 20 — Government Grants
➔ In the 20th century, government grants are common, but the dragon says, "Nothing for me!"
• Ind AS 21 — Effects of Changes in Foreign Exchange Rates
➔ The dragon dreams that in the 21st century, forex rates crash, making gold worthless.

The Chaos and Great Escape
• Ind AS 23 — Borrowing Costs
➔ Suddenly, two lions with crowns and three gunmen shout "Borrowing kills!"
(23 = 2 lions + 3 gunmen).
• Ind AS 24 — Related Party Disclosures
➔ You call your wife (related party) and say, "Pack up! We leave in 24 hours!"

Separation and Investment for Protection
• Ind AS 27 — Separate Financial Statements
➔ The two lions separate into seven yellow lions chasing you like Dhoni's lightning speed.
• Ind AS 28 — Investments in Associates and Joint Ventures
➔ Just barely escaping the chase, you hide behind some rocks.
➔ To protect your assets, you invest your 16 properties into associates and joint ventures in Feb month
(Remember: 28 = February, 28 days = rush to invest.)
• Ind AS 29 — Financial Reporting in Hyperinflationary Economies
➔ Suddenly, your wife arrives in a hypersonic jet F-29, symbolizing hyperinflation.

Flight Drama and Earnings
• Ind AS 32 — Financial Instruments Presentation
➔ During the flight, your wife flashes her 32 white teeth and asks: "Where did you invest?"
➔ You reply, "In financial instruments!"
• Ind AS 33 — Earnings per Share
➔ Smiling, you tell your wife, "Our earning per share is ₹33!"
(Simple: 33 = ₹33 EPS.)
• Ind AS 34 — Interim Financial Reporting
➔ Suddenly, an interim report flashes: "3-4 missiles incoming!"
➔ You must accelerate immediately!

The Crash, Contingency, and Survival
• Ind AS 36 — Impairment of Assets
➔ A rocket named BT-36 hits the jet — it gets impaired.
• Ind AS 37 — Provisions, Contingent Liabilities and Contingent Assets
➔ But your wife was fully ready for all contingencies!
➔ She immediately uses a parachute and evacuates.
➔ (37 = 3-7 → think of 3 to 7 seconds of quick reaction time during contingency.)

Landing, Intangibles, and New Friendships
• Ind AS 38 — Intangible Assets
➔ While landing, you see 40 jets, with 3 flying away, leaving 37 jets behind.
➔ There's an intangible fear — you don't know who is friend or enemy.
➔ (38 = After 37 contingencies, fear becomes intangible.)
• Ind AS 40 — Investment Property
➔ After 40 seconds, you and your wife land safely.
➔ You are rescued by soldiers, and one pilot friend of your wife learns about the investment property you secured.
➔ (40 = land in 40 seconds + investment talk.)
• Ind AS 41 — Agriculture
➔ The airbase is surrounded by 4 big mountains and a beautiful lake, with agriculture flourishing around it.
➔ (41 = 4 mountains + 1 lake = agriculture paradise.)

🌟 End of the Golden Hunt!

Видео Trick to remember IND AS through story telling. канала Credit Core