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In this Open Tuition lecture, the focus is on accounting for convertible debentures and derivatives. A convertible debenture is defined as a loan that can be converted into shares. The lecture emphasizes the importance of understanding the rules surrounding these instruments, which are often overlooked. From the perspective of the borrower, a convertible debenture is seen as a loan with an option for shares, leading to a specific accounting treatment. This involves utilizing split accounting, although details on the method and implications are not fully outlined in the provided text. To maximize understanding, viewers are encouraged to download supplementary lecture notes from opentuition.com.