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

Meera Pharma Ltd. is comparing Ind AS 36 with IAS 36. An analyst states: 'Paragraph 5(b) of Ind AS 36 on fair value measurement still operates alongside Ind AS 113.' Which correction is accurate?

Paragraph 5(b) was deleted in Ind AS 36 along with paragraphs 25-27 as a consequence of Ind AS 113 Fair Value Measurement. The paragraph numbers are retained for consistency with IAS 36, so the analyst is wrong to say paragraph 5(b) still operates.

  1. AParagraph 5(b) was deleted as a consequence of Ind AS 113, along with paragraphs 25-27, and numbering is retainedCorrect
  2. BParagraph 5(b) was expanded to cover Level 3 inputs under Ind AS 113
  3. CParagraph 5(b) is retained but paragraphs 25-27 were deleted instead
  4. DParagraph 5(b) was replaced by paragraphs 91-95

Explanation

The comparison says paragraph 5(b) and paragraphs 25-27 were deleted as a consequence of Ind AS 113 Fair Value Measurement, with numbering retained. Paragraphs 91-95 appear as 'Deleted' as in IAS 36 and do not replace anything. So the analyst's statement is incorrect.

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