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CA Final · Financial Reporting · Ind AS 102 Share Based Payment

Anand Motors Ltd's financial year begins on 1 April 2021. Its Ind AS 102 equity instrument definition footnote was amended by the 2021 Conceptual Framework references amendment (para 63E). Which approach to applying that amendment is consistent with the standard?

The amendment is applied retrospectively under Ind AS 8 for periods beginning on or after 1 April 2021. If that is impracticable or involves undue cost or effort, the entity applies it by reference to paragraphs 23-28, 50-53 and 54F of Ind AS 8.

  1. AApply prospectively from 1 April 2021 only, with no restatement under any circumstances
  2. BApply retrospectively under Ind AS 8, but if this is impracticable or involves undue cost or effort, apply by reference to paragraphs 23-28, 50-53 and 54F of Ind AS 8Correct
  3. CApply only to awards granted after 1 April 2021
  4. DApply at the entity's discretion, since the amendment affects only a footnote

Explanation

Para 63E requires application for annual periods beginning on or after 1 April 2021, retrospectively under Ind AS 8. If retrospective application is impracticable or involves undue cost or effort, the entity applies it by reference to paragraphs 23-28, 50-53 and 54F of Ind AS 8. Prospective-only or discretionary application is not what the text says.

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