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CA Final · Financial Reporting · Consolidated Financial Statements

A student comparing Ind AS 110 with IFRS 10 notes that Ind AS 110 retains paragraph numbers 4(b) and 4(c) even though they appear as 'Deleted'. According to the official text, why are these numbers retained?

The paragraph numbers 4(b) and 4(c) are kept, shown as deleted, so that Ind AS 110 numbering stays consistent with IFRS 10, where those paragraphs also appear as deleted. They do not carry transitional or effective date content, which are dealt with elsewhere.

  1. ABecause they contain transitional provisions for first-time adopters
  2. BBecause the Companies Act requires deleted paragraphs to be reproduced
  3. CBecause they are needed for the effective date of the standard
  4. DTo maintain consistency with the paragraph numbers of IFRS 10, where they appear as 'Deleted'Correct

Explanation

The text says these paragraph numbers appear as 'Deleted' in IFRS 10 and are retained in Ind AS 110 to maintain consistency with IFRS 10 numbering. Transitional provisions are housed in Ind AS 101, and the effective date is not relevant because it is notified under the Companies Act.

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