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CA Final · Financial Reporting · Ind AS 38 Intangible Assets

Ind AS 38 as notified in India retains the paragraph numbers 129 to 130J of IAS 38 but does not include their content. What is the reason given for this?

Paragraphs 129 to 130J are not reproduced because all transitional provisions are in Ind AS 101 and effective date paragraphs are irrelevant in India. The paragraph numbers are retained only to stay consistent with the numbering of IAS 38.

  1. ATransitional provisions are placed in Ind AS 101, and effective date paragraphs are not relevant in the Indian context; the numbers are kept for consistency with IAS 38Correct
  2. BThese paragraphs were deleted because Ind AS 38 does not permit any transition
  3. CThe paragraphs were replaced by the Illustrative Examples on useful life
  4. DThe content was moved to Ind AS 36 to deal with impairment on transition

Explanation

The comparison states transitional provisions are covered in Ind AS 101 and effective date paragraphs are not relevant in India, but the paragraph numbers are retained for consistency with IAS 38. The other options invent reasons not found in the text.

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