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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 is correct?

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

  1. AParagraph B57 of IFRS 15 is renumbered in Ind AS 115 so that later paragraphs shift up by one
  2. BParagraph B57 of Appendix B and paragraphs 28A-28C of IFRIC 12 appear as 'Deleted', with the paragraph numbers retained to stay consistent with IFRS 15 and IFRIC 12Correct
  3. CParagraph B57 is retained in full text, but paragraphs 28A-28C of IFRIC 12 are removed with renumbering
  4. DAll Appendix B paragraphs are deleted in Ind AS 115 and replaced by Appendix 1

Explanation

The comparison appendix states that B57 of IFRS 15 and paragraphs 28A-28C of IFRIC 12 appear as 'Deleted' in Ind AS 115. The numbers are kept to maintain consistency with IFRS 15 and IFRIC 12, so no renumbering occurs. Option A is wrong because there is no shifting of paragraph numbers.

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