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

Which statement about the scope and Appendix 1 of Ind AS 108 is correct?

The IFRS 8 scope text on public-market trading is deleted in Ind AS 108 because the Companies Act and its Rules govern applicability, yet the paragraph number is kept for consistency. Transitional provisions sit in Ind AS 101, and Appendix 1 is not part of the Standard.

  1. AThe IFRS 8 scope text on public-market traded instruments is deleted in Ind AS 108 because applicability is governed by the Companies Act and Rules, but the paragraph number is retainedCorrect
  2. BInd AS 108 applies only to entities whose debt or equity instruments are traded in a foreign stock exchange
  3. CInd AS 108 contains the IFRS 8 transitional provisions, which apply to all first-time adopters
  4. DAppendix 1 forms an integral, mandatory part of Ind AS 108

Explanation

Appendix 1 notes that IFRS 8 paragraph 2 scope wording has been deleted because applicability is governed by the Companies Act and the Rules made thereunder; the paragraph number is retained for consistency. Transitional provisions are in Ind AS 101, not Ind AS 108. Appendix 1 is expressly not part of the Standard.

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