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CA Final · Financial Reporting · Ind AS 105 Non-current Assets Held for Sale and Discontinued Operations

Which of the following statements about the paragraph numbering and omitted paragraphs in Ind AS 105 is correct, based on its comparison with IFRS 5?

Paragraph 43 is not included because transitional provisions sit in Ind AS 101, and paragraphs 44-44L on effective date are omitted as not relevant in the Indian context. The paragraph numbers are nonetheless retained to stay consistent with IFRS 5 numbering.

  1. AParagraph 43 on IFRS 5 transitional provisions is included because Ind AS 105 has its own transition rules
  2. BParagraphs 44-44L on effective dates are retained in full with Indian dates
  3. CParagraph 43 is not included since transitional provisions are in Ind AS 101, and paragraphs 44-44L are not included as not relevant in the Indian context, with the numbers retained for consistency with IFRS 5Correct
  4. DParagraph numbers were renumbered sequentially after deleting paragraphs, so no numbers match IFRS 5

Explanation

The comparison states paragraph 43 is not included as transitional provisions are in Ind AS 101, and paragraphs 44-44L on effective dates are not relevant in India. Paragraph numbers are retained to stay consistent with IFRS 5, which contradicts the last option.

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