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

Meera Infra Ltd's financial year began on 1 April 2016. Its auditor asks about the effective date and transition for the Ind AS 102 amendments on Classification and Measurement of Share-based Payment Transactions, which amended paragraphs 19, 30-31, 33 and 52 and added paragraphs 33A-33H. Based on the text provided, which statement is correct?

The amendments apply for annual periods beginning on or after 1 April 2017. An entity may apply them retrospectively under Ind AS 8 only if that is possible without hindsight, and if it elects retrospective application it must do so for all of the amendments.

  1. AApply them for annual periods beginning on or after 1 April 2017, with retrospective application permitted only if possible without hindsight, and then for all the amendmentsCorrect
  2. BApply them for annual periods beginning on or after 1 April 2021, retrospectively for those amendments chosen
  3. CApply them for annual periods beginning on or after 1 April 2017, and retrospective application is compulsory for all entities
  4. DApply them from 1 April 2017, with retrospective application permitted selectively for only the amendments the entity prefers

Explanation

Paragraph 63D sets annual periods beginning on or after 1 April 2017. Paragraph 59B permits retrospective application under Ind AS 8 if and only if possible without hindsight, and if elected it must be done for all of the amendments. The selective option fails because the all-or-none condition applies, and the compulsory option fails because retrospective application is only permitted.

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