CMA Intermediate · Corporate Accounting and Auditing · Earnings per Share (Ind AS 33)
For the terms financial instrument, financial asset, financial liability and equity instrument used in Ind AS 33, which source supplies the definitions?
The definitions come from Ind AS 32, Financial Instruments: Presentation. Ind AS 33 uses those terms with the meanings given in Ind AS 32, while fair value is defined by Ind AS 113.
- AInd AS 32, Financial Instruments: PresentationCorrect
- BInd AS 113, Fair Value Measurement
- CInd AS 1, Presentation of Financial Statements
- DInd AS 37, Provisions, Contingent Liabilities and Contingent Assets
Explanation
Ind AS 33 states that terms defined in Ind AS 32 are used with the meanings in its paragraph 11 unless otherwise noted. Ind AS 113 is the source for fair value, not for these terms.
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