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CA Final · Financial Reporting · Ind AS 103 Business Combinations

Regarding differences between Ind AS 103 and IFRS 3, which statement is correct?

Ind AS 103 does not carry IFRS 3's transitional provisions because all relevant transitional provisions for Ind ASs are placed in Ind AS 101. Paragraph numbers are retained for consistency, and the IFRS 3 effective date paragraphs are not included.

  1. AInd AS 103 retains IFRS 3 transitional provisions, which is why Ind AS 101 is silent
  2. BInd AS 103 omits IFRS 3 transitional provisions, since transitional provisions for Ind ASs are included in Ind AS 101Correct
  3. CInd AS 103 removes paragraph numbering so deleted paragraphs vanish
  4. DInd AS 103 adds effective date paragraphs 64-64J for Indian context

Explanation

The comparison states that transitional provisions in IFRS 3 are not in Ind AS 103 because relevant transitional provisions are in Ind AS 101. Effective date paragraphs 64-64J and 64L are not included, and deleted paragraph numbers are retained for consistency.

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