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

Tapti Steel Ltd's finance team is reviewing the effective dates in Ind AS 102 and the Appendix 1 comparison with IFRS 2. Consider the statements: (i) The amendments to classification and measurement of share-based payment transactions apply to annual periods beginning on or after 1 April 2017. (ii) Ind AS 102 includes the transitional provisions of IFRS 2 in full. (iii) The Conceptual Framework reference amendment of 2021 applies for annual periods beginning on or after 1 April 2021, retrospectively under Ind AS 8, unless impracticable or involving undue cost or effort. Which combination is correct?

Statements (i) and (iii) are correct. The classification and measurement amendments apply from periods beginning on or after 1 April 2017, and the 2021 Conceptual Framework reference amendment applies from 1 April 2021 retrospectively with relief. Ind AS 102 does not include IFRS 2 transitional provisions; they are in Ind AS 101.

  1. A(i) and (ii) only
  2. B(ii) and (iii) only
  3. C(i) and (iii) onlyCorrect
  4. D(i), (ii) and (iii)

Explanation

Para 63D gives 1 April 2017 for the classification and measurement amendments, so (i) is correct. Para 63E gives 1 April 2021 for the Conceptual Framework amendment, applied retrospectively with relief if impracticable, so (iii) is correct. Appendix 1 says IFRS 2 transitional provisions are not in Ind AS 102 but are in Ind AS 101, so (ii) is wrong.

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