Skip to content

CMA Final · Corporate Financial Reporting · Impairment of Assets (Ind AS 36)

A student notes that Ind AS 36 contains paragraph numbers 91-95 even though they carry no requirements. What is the stated reason in the comparison with IAS 36?

Paragraphs 91-95 already appear as Deleted in IAS 36. Ind AS 36 retains these paragraph numbers purely to keep its numbering consistent with IAS 36. They are not linked to Ind AS 113, transitional provisions or illustrative examples, which explain other deleted paragraphs.

  1. AThese paragraphs were replaced by Ind AS 113 requirements on fair value
  2. BThese paragraphs appear as 'Deleted' in IAS 36 and the numbers are retained in Ind AS 36 for consistency with IAS 36 numberingCorrect
  3. CThese paragraphs relate to transitional provisions not relevant in India
  4. DThese paragraphs refer to illustrative examples that are not integral to the standard

Explanation

The comparison says paragraphs 91-95 are shown as 'Deleted' in IAS 36 itself. Ind AS 36 keeps the numbers so that its numbering matches IAS 36. The Ind AS 113 deletions concern paragraphs 25-27 and 5(b), and the transitional provisions concern paragraphs 138-140K and 140M, so those options describe different paragraphs.

Did you get it right without looking?

One question tells you little. A timed set on Impairment of Assets (Ind AS 36) shows your real accuracy, how long you take and where you lose marks.

Practise Impairment of Assets (Ind AS 36)Free diagnostic mock

More Impairment of Assets (Ind AS 36) questions