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CA Final · Financial Reporting · Ind AS 111 Joint Arrangements

The notes to Ind AS 111 state that paragraph numbers of IFRS 11 are retained even though some paragraphs, such as the effective date paragraph C1, are not included. Why is paragraph C1 not included?

Paragraph C1 on the effective date is omitted from Ind AS 111 because the date of application is notified under the Companies Act, so it is not relevant. Paragraph numbering is still kept consistent with IFRS 11.

  1. AThe effective date is notified under the Companies Act, so it is not relevantCorrect
  2. BJoint arrangements were exempt until 2020
  3. CEffective dates apply only to joint ventures
  4. DParagraph C1 was replaced by Ind AS 101 transitional relief only

Explanation

The comparison appendix says paragraph C1 on the effective date is not included since the date of application is notified under the Companies Act. Numbers are retained for consistency with IFRS 11. Transitional provisions are in Ind AS 101, but that explains C1A and C1AA, not C1.

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