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

Ravi Enterprises Ltd's accountant asks where the transitional provisions for first-time adopters relating to share-based payment are located, since Ind AS 102 does not reproduce those of IFRS 2. According to Appendix 1 to Ind AS 102, which is correct?

The transitional provisions are located in Ind AS 101, First-time Adoption of Indian Accounting Standards. Appendix 1 to Ind AS 102 explains that they are not repeated in Ind AS 102 because all Ind AS transitional provisions, where appropriate, have been placed in Ind AS 101.

  1. AThey are included in Ind AS 101 First-time Adoption of Indian Accounting StandardsCorrect
  2. BThey are included in Ind AS 8 Accounting Policies, Changes in Accounting Estimates and Errors
  3. CThey are included in Ind AS 113 Fair Value Measurement
  4. DThey are retained in paragraphs 53-59 of Ind AS 102

Explanation

Appendix 1 notes that transitional provisions in IFRS 2 are not given in Ind AS 102 because all transitional provisions related to Ind ASs, where appropriate, are included in Ind AS 101. Paragraph numbers 53-59 are retained only for consistency with IFRS 2 numbering and carry no content on transition.

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