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CA Final · Financial Reporting · Ind AS 105 Non-current Assets Held for Sale and Discontinued Operations

Ind AS 105 omits certain paragraphs of IFRS 5 but retains their numbering. Which statement about this is consistent with Appendix 1 of Ind AS 105?

Paragraph 33A content on a separate income statement is deleted in Ind AS 105 because Ind AS 1 requires profit or loss and OCI components to be presented within the statement of profit and loss. The paragraph number 33A is retained only to stay consistent with IFRS 5 numbering.

  1. AParagraph 33A on a separate income statement is deleted for discontinued operations because Ind AS 1 requires all components of profit or loss and OCI to be presented in the statement of profit and loss, yet the paragraph number is retainedCorrect
  2. BParagraph 33A is retained in full so that discontinued operations are shown in a separate income statement
  3. CParagraph 33A is deleted and its number is reused for a new Indian requirement
  4. DParagraph 43 on transition is retained in full because Ind AS 101 does not deal with transition

Explanation

Appendix 1 says the requirements on presenting discontinued operations in a separate income statement were deleted as a consequence of removing the two-statement option in Ind AS 1. The paragraph number 33A is kept to align with IFRS 5. Option B is wrong because the separate income statement content is deleted.

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