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CA Final · Financial Reporting · Ind AS 102 Share Based Payment

Kaveri Pharma Ltd adopts the amendments titled Classification and Measurement of Share-based Payment Transactions under Ind AS 102. The entity wishes to apply them retrospectively. Which statement is correct as per the transitional provisions?

Kaveri Pharma may apply the amendments retrospectively under Ind AS 8 only if this is possible without hindsight. If it elects retrospective application, it must apply it to all of the amendments made, not to selected ones.

  1. ARetrospective application is allowed if and only if it is possible without hindsight, and if elected it must be applied to all the amendmentsCorrect
  2. BRetrospective application is mandatory for every entity
  3. CRetrospective application may be elected for individual amendments selectively
  4. DRetrospective application is permitted even with hindsight if the amount is material

Explanation

Paragraph 59B permits retrospective application in accordance with Ind AS 8 if and only if it is possible without hindsight. If an entity elects retrospective application, it must do so for all of the amendments. Selective application or use of hindsight is not permitted.

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