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CA Final · Financial Reporting · Ind AS 36 Impairment of Assets

An analyst at Dhruv Auto Ltd reviews Ind AS 36 against IAS 36 and lists differences. Which listed item is NOT consistent with the comparison with IAS 36 in Ind AS 36?

The inconsistent item is that paragraphs 138-140K and 140M are included in Ind AS 36. They are actually not included because they are not relevant in the Indian context, although their paragraph numbers are retained for consistency with IAS 36.

  1. AParagraphs 91-95 appear as Deleted in IAS 36 and their numbers are retained in Ind AS 36
  2. BParagraph 103, 137 and C9 references to Illustrative Examples are deleted but numbers retained
  3. CParagraph 5(b) and paragraphs 25-27 were deleted due to Ind AS 113
  4. DParagraphs 138-140K and 140M on transition are included in Ind AS 36 as they are relevant in IndiaCorrect

Explanation

The comparison says paragraphs 138-140K and 140M were not included as they are not relevant in the Indian context, though the numbers are retained. The other three statements match the comparison. So option 4 is the inconsistent one.

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