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CA Final · Financial Reporting · Ind AS 7 Statement of Cash Flows

A student preparing for CA Final notices that paragraph numbers 14(e), 29, 30 and 50(b) appear in Ind AS 7 without operative text. According to the appendix comparing Ind AS 7 with IAS 7, why are these paragraph numbers retained?

The paragraph numbers 14(e), 29, 30 and 50(b) are retained in Ind AS 7 because they appear as Deleted in IAS 7. Keeping the numbers preserves consistency with the IAS 7 paragraph numbering, and they contain no optional or entity-specific treatment.

  1. AThey are retained because they apply only to financial entities
  2. BThey are retained because they carry optional treatments for Indian entities
  3. CThey are retained because they were replaced by Schedule III requirements
  4. DThey appear as 'Deleted' in IAS 7 and the numbers are kept for consistency with IAS 7 paragraph numberingCorrect

Explanation

The appendix states these paragraphs appear as 'Deleted' in IAS 7, and the numbers are retained in Ind AS 7 to maintain consistency with IAS 7 paragraph numbers. They carry no optional treatment and are not tied to financial entities or Schedule III.

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