CA Final · Financial Reporting · Ind AS 7 Statement of Cash Flows
Narmada Finserv Ltd, a company preparing statements under Ind AS, wants to know which paragraph numbers in Ind AS 7 appear as 'Deleted' in IAS 7 but are retained in Ind AS 7 for consistency. Which set is correct per Appendix 1?
The paragraphs shown as Deleted in IAS 7 whose numbers are retained in Ind AS 7 are 14(e), 29, 30 and 50(b). They are kept only to maintain consistency of numbering with IAS 7.
- AParagraphs 14(e), 29, 30 and 50(b)Correct
- BParagraphs 33, 34, 14(e) and 50(b)
- CParagraphs 2, 29, 30 and 53
- DParagraphs 14(e), 28, 31 and 50(a)
Explanation
Appendix 1 lists paragraph 14(e), 29, 30 and 50(b) as deleted in IAS 7 but retained as numbers in Ind AS 7. Paragraphs 33 and 34 are substantive classification paragraphs, so option B is wrong.
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