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CMA Final · Corporate Financial Reporting · Share based Payment (Ind AS 102)

Kiran Ltd is preparing for the Ind AS 102 amendments on classification and measurement of share-based payment transactions. The amendments added paragraphs 33A to 33H and apply for annual periods beginning on or after 1 April 2017. An entity wishes to apply them retrospectively. Which statement follows from Ind AS 102?

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

  1. ARetrospective application is mandatory for every entity
  2. BRetrospective application is allowed only if possible without hindsight, and then it must be done for all the amendmentsCorrect
  3. CRetrospective application may be elected for any one amendment chosen by the entity
  4. DRetrospective application is prohibited and only prospective application is allowed

Explanation

Para 59B permits retrospective application in accordance with Ind AS 8 if and only if possible without hindsight. If elected, it must be for all the amendments made by the classification and measurement amendments. Selecting only some amendments is not allowed.

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