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CMA Intermediate · Corporate Accounting and Auditing · Earnings per Share (Ind AS 33)

Under Ind AS 33 as notified in India, what is the position on the IAS 33 paragraph 2 requirements regarding which entities (traded in a public market or filing with a securities regulator) must present EPS?

The IAS 33 applicability wording on publicly traded entities was deleted from Ind AS 33. Applicability and exemptions are governed by the Companies Act and the Rules made under it, while the paragraph number is retained for consistency with IAS 33.

  1. AThey are retained, so only entities with publicly traded shares apply the standard
  2. BThey are retained, but only for consolidated financial statements
  3. CThey are deleted because applicability and exemptions are governed by the Companies Act and the Rules made thereunderCorrect
  4. DThey are replaced by a requirement that all companies with turnover above a threshold present EPS

Explanation

The Ind AS comparison notes that the IAS 33 paragraph 2 applicability text has been deleted, since applicability or exemptions are governed by the Companies Act and the Rules. The paragraph number is retained. No turnover test is introduced in the standard.

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