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CA Final · Financial Reporting · Ind AS 105 Non-current Assets Held for Sale and Discontinued Operations

A reviewer compares Ind AS 105 with IFRS 5 and lists the following differences. Which listed difference is NOT supported by the comparison given in Ind AS 105?

The unsupported statement is that paragraph 33A is retained with a full separate income statement requirement. Ind AS 105 keeps only the paragraph number, while the separate income statement requirements are deleted following the removal of the two-statement approach in Ind AS 1.

  1. ATransitional provision paragraph 43 of IFRS 5 is omitted because transitional provisions are in Ind AS 101
  2. BParagraphs 44-44L on effective date are omitted, though the paragraph numbers are retained
  3. CParagraph 33A is retained with a full requirement for a separate income statement for discontinued operationsCorrect
  4. DThe terms balance sheet and statement of profit and loss are used instead of statement of financial position and statement of comprehensive income

Explanation

Paragraph 33A is retained only as a number to keep consistency with IFRS 5; its requirements on a separate income statement are deleted. The other three statements match the comparison: transitional provisions are in Ind AS 101, effective date paragraphs are omitted but numbers kept, and terminology differs.

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