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CMA Final · Corporate Financial Reporting · Operating Segments (Ind AS 108)

Which statement about the differences between Ind AS 108 and IFRS 8 is correct, according to the Standard's Appendix 1 comparison?

Ind AS 108 leaves out IFRS 8's transitional provisions because Ind AS 101 covers them. It also deletes the public-market scope text of IFRS 8 paragraph 2, since applicability is governed by the Companies Act and Rules, though the paragraph number is retained.

  1. AInd AS 108 retains IFRS 8 paragraph 2 on public-market scope, and applicability is decided by the Standard itself
  2. BInd AS 108 omits IFRS 8's transitional provisions because they are covered in Ind AS 101, and the IFRS 8 scope text is deleted since applicability is governed by the Companies Act and its RulesCorrect
  3. CInd AS 108 omits the scope text because Ind AS 108 applies to every entity without exception
  4. DInd AS 108 retains the IFRS 8 transitional provisions but deletes the definition of operating segments

Explanation

Appendix 1 explains that IFRS 8's transitional provisions are not in Ind AS 108 as they are included in Ind AS 101 for first-time adoption. It also says the IFRS 8 paragraph 2 scope wording is deleted because applicability is governed by the Companies Act and Rules, while the paragraph number is retained for consistency. Therefore only this option is correct.

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