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

Tulsi Energy Ltd is reviewing the effect of 'Amendments to References to the Conceptual Framework in Ind AS' on Ind AS 102. Which statement correctly reflects the text provided?

The amendment altered the footnote to the definition of an equity instrument in Appendix A and applies for annual periods beginning on or after 1 April 2021. It is applied retrospectively under Ind AS 8, with a relief if retrospective application is impracticable or involves undue cost or effort.

  1. AThe amendment changed the footnote to the definition of an equity instrument in Appendix A and applies for annual periods beginning on or after 1 April 2021Correct
  2. BThe amendment changed the vesting condition requirements in paragraph 19 and applies from 1 April 2017
  3. CThe amendment removed the definition of equity instrument, effective for periods beginning on or after 1 April 2021
  4. DThe amendment is applied prospectively only, with no exception for impracticability

Explanation

Paragraph 63E states the amendment amended the footnote to the definition of an equity instrument in Appendix A, applicable to annual periods beginning on or after 1 April 2021. It is applied retrospectively under Ind AS 8, with relief by reference to Ind AS 8 paragraphs if impracticable or undue cost or effort. The prospective-only option ignores the retrospective requirement.

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