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

Ind AS 33 retains paragraph numbers that appear as deleted or omitted in IAS 33, such as paragraph 25 and the paragraphs on a separate income statement (4A, 67A, 68A, 73A). What is the stated reason for deleting the separate income statement paragraphs in Ind AS 33?

The paragraphs were deleted as a consequence of Ind AS 1 removing the option of the two-statement approach. Ind AS 1 requires components of profit or loss and other comprehensive income in one statement of profit and loss, and paragraph numbers were retained only to stay consistent with IAS 33.

  1. AInd AS 33 applies only to consolidated statements, so separate income statements are irrelevant
  2. BThe Companies Act prohibits disclosure of EPS by component
  3. CThe deletion is consequential to the removal in Ind AS 1 of the option of the two-statement approachCorrect
  4. DEPS for discontinued operations is not required under Ind AS

Explanation

Appendix 1 states that the deletion is consequential to the removal of the two-statement approach option in Ind AS 1. Ind AS 1 requires components of profit or loss and OCI to be presented as part of the statement of profit and loss. Paragraph numbers are retained for consistency with IAS 33.

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