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CMA Final · Corporate Financial Reporting · The Effects of Changes in Foreign Exchange Rates (Ind AS 21)

Paragraphs 58-60J of IAS 21 deal with effective date and transition. How does Ind AS 21 treat these paragraphs?

Paragraphs 58-60J of IAS 21, on effective date and transition, are not included in Ind AS 21. Their paragraph numbers are nonetheless retained so that Ind AS 21 numbering stays consistent with IAS 21, rather than renumbering later paragraphs.

  1. AThey are not included, but the paragraph numbers are retained to stay consistent with IAS 21 numberingCorrect
  2. BThey are included unchanged with the same wording as IAS 21
  3. CThey are deleted and the later paragraphs are renumbered
  4. DThey are replaced by an Appendix of transitional rules within Ind AS 21

Explanation

Appendix 1 states these paragraphs are not included in Ind AS 21 because they relate to effective date and transition, but their numbers are retained to maintain consistency with IAS 21 paragraph numbers. So renumbering does not occur.

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