CMA Final · Corporate Financial Reporting · Operating Segments (Ind AS 108)
Ind AS 108 as notified in India does not reproduce paragraph 2 of IFRS 8 on scope (traded debt or equity, or filing with a regulator for public issue). Which statement correctly explains this?
The IFRS 8 scope paragraph is deleted because applicability and exemptions for Ind AS are governed by the Companies Act and Rules made under it. The paragraph number is retained to stay consistent with IFRS 8 numbering.
- AThe scope was deleted because applicability of Ind AS is governed by the Companies Act and Rules, though the paragraph number is retained for consistency with IFRS 8Correct
- BThe scope was deleted because Ind AS 108 applies to all entities including unlisted small entities without exception
- CThe scope was deleted because transitional provisions of Ind AS 108 cover it
- DThe scope was retained unchanged but moved to Ind AS 101
Explanation
The comparison with IFRS 8 states that the IFRS 8 scope text is deleted in Ind AS because applicability and exemptions are governed by the Companies Act and its Rules, while the paragraph number is retained for consistency. Transitional provisions are separately in Ind AS 101, which is a different point, so the other options are wrong.
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