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

A reviewer examines the Ind AS 105 text and notes that paragraph numbers 33A, 43 and 44-44L appear in or are referred to by the standard even though some content is absent. Which statement correctly explains the treatment of IFRS 5 paragraph 43 (transitional provisions) and paragraphs 44-44L (effective date)?

Paragraph 43 is not included because transitional provisions are in Ind AS 101, and paragraphs 44-44L on effective date are not included as irrelevant in India. Their numbers are retained so Ind AS 105 stays consistent with IFRS 5 numbering.

  1. ABoth were included in full in Ind AS 105 as they are relevant to Indian entities
  2. BParagraph 43 was omitted since transitional provisions are in Ind AS 101, and 44-44L were omitted as not relevant in the Indian context; numbers are retained for consistency with IFRS 5Correct
  3. CParagraph 43 is retained with content but 44-44L are deleted with numbers also removed
  4. DBoth were moved to Ind AS 8 and renumbered

Explanation

The comparison states paragraph 43 was not included because transitional provisions are in Ind AS 101, and paragraphs 44-44L on effective date were not included as not relevant in the Indian context. The paragraph numbers are retained to match IFRS 5. Option C wrongly says the numbers were removed.

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