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CMA Final · Corporate Financial Reporting · Revenue from Contracts with Customers (Ind AS 115)

Which statement about the paragraph numbering of Ind AS 115 relative to IFRS 15 and IFRIC 12 is correct?

In Ind AS 115, paragraph B57 of IFRS 15 and paragraphs 28A-28C of IFRIC 12 appear as 'Deleted', yet their paragraph numbers are retained. This keeps the numbering consistent with IFRS 15 and IFRIC 12 rather than renumbering later paragraphs.

  1. AParagraph B57 of IFRS 15 and paragraphs 28A-28C of IFRIC 12 appear as 'Deleted' in Ind AS 115, but their paragraph numbers are retained for consistencyCorrect
  2. BParagraph B57 is renumbered B56A and paragraphs 28A-28C are merged into paragraph 28
  3. CParagraphs B57 and 28A-28C are retained with full IFRS text and a carve-out note
  4. DThe deleted paragraphs are removed and all later paragraphs are renumbered

Explanation

The comparison notes that B57 of IFRS 15 and 28A-28C of IFRIC 12 appear as 'Deleted' in Ind AS 115. The numbers are retained to keep consistency with the IFRS paragraph numbers. Renumbering or retaining the text is therefore incorrect.

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