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CMA Final · Corporate Financial Reporting · Operating Segments (Ind AS 108)

Ind AS 108 contains no transitional provisions, whereas IFRS 8 does. What is the reason given in the comparison with IFRS 8?

The transitional provisions of IFRS 8 are not repeated in Ind AS 108 because all Ind AS transitional provisions, wherever considered appropriate, are placed in Ind AS 101, First-time Adoption of Indian Accounting Standards, which corresponds to IFRS 1.

  1. ATransitional provisions are unnecessary because Ind AS 108 applies only to new entities
  2. BAll transitional provisions for Ind AS, where appropriate, are included in Ind AS 101, First-time Adoption of Indian Accounting StandardsCorrect
  3. CTransitional provisions are left to each company's board to decide
  4. DTransitional provisions are included in Ind AS 8 for all standards

Explanation

The comparison states that IFRS 8's transitional provisions were not given in Ind AS 108. All Ind AS transitional provisions, wherever appropriate, are placed in Ind AS 101, which corresponds to IFRS 1. The other options attribute them to Ind AS 8 or the board, neither of which is stated.

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