Skip to content

CA Final · Financial Reporting · Ind AS 33 Earnings per Share

Which statement about the applicability wording of Ind AS 33 compared with IAS 33 is correct?

Ind AS 33 deletes the IAS 33 paragraph 2 scope text on public market trading, since applicability and exemptions are governed by the Companies Act and the Rules made under it. The paragraph number is nevertheless retained to stay consistent with IAS 33 numbering.

  1. AInd AS 33 retains the IAS 33 paragraph 2 scope on public market trading in full
  2. BInd AS 33 deletes the IAS 33 paragraph 2 scope text, because applicability is governed by the Companies Act and Rules, but retains the paragraph numberCorrect
  3. CInd AS 33 removes paragraph numbering for deleted paragraphs
  4. DInd AS 33 applicability is decided by the entity's auditor

Explanation

The comparison with IAS 33 states that the scope in IAS 33 paragraph 2 is deleted in Ind AS because applicability and exemptions are governed by the Companies Act and Rules. The paragraph number is retained for consistency with IAS 33. Retaining the full scope text is therefore incorrect.

Did you get it right without looking?

One question tells you little. A timed set on Ind AS 33 Earnings per Share shows your real accuracy, how long you take and where you lose marks.

Practise Ind AS 33 Earnings per ShareFree diagnostic mock

More Ind AS 33 Earnings per Share questions