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CA Final · Financial Reporting · Ind AS 33 Earnings per Share

Godavari Steels Ltd is listed. Its CFO says that Ind AS 33 itself, like IAS 33 paragraph 2, lays down which entities (traded in a public market or filing for a public issue) must present EPS. Based on the comparison with IAS 33, what is correct?

The CFO is wrong. IAS 33 paragraph 2 on which entities must present EPS was deleted in Ind AS 33, because applicability and exemptions for Ind AS are governed by the Companies Act and the Rules made under it. The paragraph number is retained for consistency.

  1. AParagraph 2 of IAS 33 was deleted in Ind AS because applicability and exemptions are governed by the Companies Act and Rules, though the paragraph number is retainedCorrect
  2. BParagraph 2 is retained unchanged in Ind AS 33
  3. CParagraph 2 was replaced by a requirement based on turnover limits stated within Ind AS 33
  4. DParagraph 2 was moved to Ind AS 1

Explanation

Appendix 1 notes that IAS 33 paragraph 2, which specifies entities to which the standard applies (public market traded or filing entities), has been deleted in Ind AS 33. Applicability and exemptions are governed by the Companies Act and the Rules made under it. The paragraph number is retained for consistency with IAS 33.

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