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CA Final · Financial Reporting · Ind AS 36 Impairment of Assets

Jain Infra Ltd.'s accountant lists differences between Ind AS 36 and IAS 36 for a board note. Which of the following listed items is NOT supported by the stated comparison?

The unsupported item is that paragraph 2(f) is retained in full and paragraph 5 is unchanged. In Ind AS 36, paragraph 2(f) is deleted because Ind AS 40 requires the cost model, and paragraph 5 is modified by removing the reference to fair value measurement of investment property.

  1. AParagraph 5(b) and paragraphs 25-27 are deleted as a consequence of Ind AS 113.
  2. BParagraphs 91-95 appear as 'Deleted' in IAS 36, with numbers retained in Ind AS 36.
  3. CParagraph 103 and paragraph 137 are deleted since they refer to Illustrative Examples that are not integral to IAS 36, with numbers retained.
  4. DParagraph 2(f) is retained in Ind AS 36 with full text, but paragraph 5 is unchanged.Correct

Explanation

Paragraph 2(f) is deleted in Ind AS 36 because Ind AS 40 requires the cost model, with its number retained. Paragraph 5 is also modified to remove the reference to fair value measurement of investment property. The statement that 2(f) is retained in full and paragraph 5 is unchanged contradicts both facts. The other three statements are as stated in the comparison.

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