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CA Final · Financial Reporting · Ind AS 103 Business Combinations

Regarding the paragraph numbering of Ind AS 103 compared with IFRS 3, which statement is correct?

Ind AS 103 keeps the paragraph numbers of IFRS 3 for consistency, even where paragraphs are deleted or omitted, such as the effective date paragraphs 64-64J and 64L. Transitional provisions are dealt with in Ind AS 101, not Ind AS 103.

  1. AParagraphs deleted in IFRS 3, such as 17(b) and B10, are renumbered so that Ind AS 103 has no gaps
  2. BParagraph numbers are retained for consistency with IFRS 3, even where paragraphs are deleted or not included, such as effective date paragraphs 64-64J and 64LCorrect
  3. CTransitional provisions of IFRS 3 are reproduced in full within Ind AS 103
  4. DEffective date paragraphs are retained with Indian dates in Ind AS 103

Explanation

Ind AS 103 retains IFRS 3 paragraph numbers for consistency. Paragraphs 64-64J and 64L on effective date are not included as not relevant in India, and paragraphs shown as deleted in IFRS 3 keep their numbers. Transitional provisions are in Ind AS 101, not Ind AS 103.

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