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CA Final · Financial Reporting · Ind AS 115 Revenue from Contracts with Customers

Ind AS 115 Appendix 1 compares it with IFRS 15. Regarding paragraph B57 of Appendix B of IFRS 15 and paragraphs 28A-28C of IFRIC 12, what is stated?

Paragraph B57 of IFRS 15 Appendix B and paragraphs 28A-28C of IFRIC 12 appear as Deleted in Ind AS 115, yet their paragraph numbers are retained so that numbering remains consistent with IFRS 15 and IFRIC 12.

  1. AThey appear as 'Deleted' in Ind AS 115, but the paragraph numbers are retained to maintain consistency with IFRS 15 and IFRIC 12Correct
  2. BThey are fully retained with identical text in Ind AS 115
  3. CThey are deleted and the remaining paragraphs renumbered
  4. DThey are replaced with new Indian-specific guidance on royalties

Explanation

Appendix 1 states these paragraphs appear as 'Deleted' in Ind AS 115, yet the numbers are retained so paragraph numbering stays consistent with IFRS 15 and IFRIC 12. Renumbering did not occur, which rules out the third option.

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