ind_as_vs_ifrs

8/6/2019 Ind_as_vs_ifrs

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40 Ind AS 40 Investment Property Comparison with IAS 40, Investment Property

101

102 Ind AS 102 Share-based Payment Comparison with IFRS 2, Share-based Payment

103 Ind AS 103 Business Combinations Comparison with IFRS 3, Business Combinations

104 Ind AS 104 Insurance Contracts Comparison with IFRS 4, Insurance Contracts

105

106 Comparison with IFRS 6, Exploration for and Evaluation of Mineral Resources

107 Ind AS 107 Financial Instruments Disclosures Comparison with IFRS 7, Financial Instruments: Disclosures

108 Ind AS 108 Operating Segments Comparison with IFRS 8, Operating Segments

Ind AS 101 First-time Adoption of IndianAccounting Standards

Major differences between Indian Accounting Standard (Ind-AS) 101 First-timeAdoption of Indian Accounting Standards and IFRS 1

Ind AS 105 Non current Assets Held for Sale and

Discontinued Operations

Comparison with IFRS 5, Non-current Assets Held for Sale and Discontinued

OperationsInd AS 106 Exploration for and Evaluation ofMineral Resources


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Comparison with IAS 1, Presentation of Financial Statements

1 With regard to preparation of Statement of profit and loss, International

Accounting Standard (IAS) 1, Presentation of Financial Statements , provides

an option either to follow the single statement approach or to follow the two

statement approach. While in the single statement approach, all items of

income and expense are recognised in the statement of profit and loss, in the

two statements approach, two statements are prepared, one displaying

components of profit or loss (separate income statement) and the other

beginning with profit or loss and displaying components of other

comprehensive income. Ind AS 1 allows only the single statement approach.

Paragraph 84 of IAS 1 is with reference to the two statement approach. As Ind

AS 1 does not allow the aforesaid option, the paragraph 84 is deleted.

However, paragraph number 84 has been retained in Ind AS 1 to maintain

consistency with paragraph numbers of IAS 1.

2 IAS 1 requires preparation of a Statement of Changes in Equity as a separate

statement. Ind AS 1 requires the statement of changes in equity to be shownas a part of the balance sheet. Paragraph 10(c) of IAS 1 is with reference to

the separate statement of changes in equity. . As Ind AS 1 does not require it,

the same is deleted. However, paragraph number 10(c) has been retained in

Ind AS 1 to maintain consistency with paragraph numbers of IAS 1

3 Different terminology is used in Ind AS 1 e.g., the term balance sheet is used

instead of Statement of financial position and Statement of Profit and Loss is

used instead of Statement of comprehensive income. The words approval of

the financial statements for issue have been used instead of authorisation of

the financial statements for issue in the context of financial statementsconsidered for the purpose of events after the reporting period.

4 Paragraph 8 of IAS 1 gives the option to individual entities to follow different

terminology for the titles of financial statements. Ind AS 1 is changed to

remove alternatives by giving one terminology to be used by all entities.

However, paragraph number 8 has been retained in Ind AS 1 to maintain


5 Paragraph 37 of IAS 1 permits the periodicity, for example, of 52 weeks for

preparation of financial statements. As Ind AS 1 does not permit it,the same is

deleted. However, paragraph number 37 has been retained in Ind AS 1 to


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maintain consistency with paragraph numbers of IAS 1.

6 Paragraph 99 of IAS 1 requires an entity to present an analysis of expenses

recognised in profit or loss using a classification based on either their nature or

their function within the equity. Ind AS 1 requires only nature-wise classification

of expenses. In IAS 1 the following paragraphs are with reference to functionwise

classification of expense. In order to maintain consistency with paragraph

numbers of IAS 1, the paragraph numbers are retained in Ind AS 1 :

(i) Paragraph 103

(ii) Paragraph 104

(iii) Paragraph 105

7 IAS 1 contains Implementation Guidance. Ind AS 1 does not include the same

because various enactments have prescribed formats, e.g., Schedule VI to the

Companies Act, 1956.


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Comparison with IAS 2, Inventories

1. Paragraph 38 of IAS 2 dealing with recognition of inventories as an expense based

on function-wise classification, has been deleted keeping in view the fact that

option provided in IAS 1 to present an analysis of expenses recognised in profit or

loss using a classification based on th eir function within the equity has been

removed and Ind AS 1 requires only nature -wise classification of expenses.

However, in order to maintain consistency with paragraph numbers of IAS 2, the

paragraph number is retained in Ind AS 2.


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in the following major respects:

1. In case of other than financial e ntities, IAS 7 gives an option to classify the interest paid

and interest and dividends received as item of operating cash flows. Ind AS 7 does not provide

such an option and requires these item to be classified as item of financing activity and investing

activity, respectively (refer to paragraph 33).

2. IAS 7 gives an option to classify the dividend paid as an item of operating activity.

However, Ind AS 7 requires it to be classified as a part of financing activity only.

3. Different terminology is used in this standard, e.g., the term balance sheet is used instead of

Statement of financial position and Statement of profit and loss is used instead of Statement

of comprehensive income.

4. Paragraph 2 of IAS 7 which states that IAS 7 supersedes the earlier version IAS 7 is deleted

in Ind AS 7 as this is not relevant in Ind AS 7. However, paragraph number 2 is retained in IndAS 7 to maintain consistency with paragraph numbers of IAS 7.

5. The following paragraph numbers appear as Dele ted in IAS 7. In order to maintain

consistency with paragraph numbers of IAS 7, the paragraph numbers are retained in Ind AS 7:

(i) paragraph 29

(ii) paragraph 30

Comparison with IAS 7, Statement of Cash Flows Ind AS 7 differs from International Accounting Standard (IAS) 7, Statement of CashFlows ,


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Comparison with IAS 8, Accounting Policies, Changes in Accounting Estimates and Errors

1. Different terminology is used in this standard, e.g., the term balance sheet is

used instead of Statement of financial position and Statement of profit and loss

is used instead of Statement of comprehensive income. The words approval of

the financial statements for issue have been used instead of authorisation of the

financial statements for issue in the context of financial statements considered

for the purpose of events after the reporting period .


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Comparison with IAS 10, Events after the Reporting Period and IFRIC Interpretation 17

1 Different terminology is used in this standard, e.g., the term balance sheet is used instead

of Statement of financial position. The words approval of the financial statements for

issue have been used instead of authorisation of the financial statements for issue in the

context of financial statements considered for the purpose of eve nts after the reporting

period.


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1. IAS 11 does not deal with accounting for construction contracts in respect of real

estate developers. However, this has been dealt with under Ind AS 11, since it has

been kept out of the scope t of Ind AS 18, Revenue.

2. The transitional provisions given in IFRIC 12 have not been given i n Ind AS 11,since all transitional provisions related to Ind ASs, wherever considered

appropriate have been included in Ind AS 101, First-time Adoption of Indian

Accounting Standards corresponding to IFRS 1, First-time Adoption of

International Financial Reporting Standards.

3. Different terminology is used in this standard, e.g., the term balance sheet is used

instead of Statement of financial position and Statement of profit and loss is

used instead of Statement of comprehensive income

4. . Paragraph 2 of IAS 11 which states that IAS 11 supersedes the earlier version ofIAS 11 is deleted in Ind AS 11 as this is not relevant in Ind AS 11. However,

paragraph number 2 is retained in Ind AS 7 to maintain consistency with paragraph

numbers of IAS 11.

Comparison with IAS 11, Construction Contracts, IFRIC 12, Service Concession Arrangements and SIC 29, Service ConcessionArrangements : Disclosures


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Comparison with IAS 12, Income Taxes

1. .The transitional provisions given in SIC 21 and SIC 25 have not been

given in Ind AS 12, since all transitional provisions related to Ind ASs,

wherever considered appropriate, have been included in Ind AS 101,

First-time Adoption of Indian Accounting Standards corresponding to

IFRS 1, First-time Adoption of International Financial Reporting

Standards.

2. Different terminology is used, as used in existing laws e.g., the term

balance sheet is used instead of Statement of financial position and

Statement of profit and loss is used instead of Statement of

comprehensive income. Words approved for issue have been used

instead of authorised for issue in the context of financial statements

considered for the purpose of events after the reporting period.

3. Requirements regarding presentation of tax expense (income) in the

separate income statement, where separate income statement ispresented, have been deleted. This change is consequential to the

removal of option regarding the two statement approach in Ind AS 1. Ind

AS 1 requires that the components of profit or loss and components of

other comprehensive income shall be presented as a part of the

statement of profit and loss.

4. The following paragraph numbers appear as Deleted in IAS 12. In

order to maintain consistency with paragraph numbers of IAS 12,

the paragraph numbers are retained in Ind AS 12 :

(i) paragraph 3

(ii) paragraph 32

(iii) paragraph 50

(iv) paragraph 61

(v) paragraphs 62(b) and (d)

(vi) paragraph 69

(vii) paragraph 70

(viii) paragraph 77A

(ix) paragraph 81(b)

(x) paragraph 83

(xi) paragraph B 10 of Appendix A


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5. As a consequence of not allowing fair value model in Ind AS 40 ,

the following paragraphs have been modified in Ind AS 12:

(i) paragraph 20

(ii) paragraph A.4 of Appendix A

(iii), paragraph A 10 of Appendix C

(iv) paragraph B 8 of Appendix C

6. Paragraph 68(a) has been modified as a consequence of different

accounting treatment of bargain purchase g ain in Ind AS 103,

Business Combinations, in comparison to IFRS 3, Business

Combination.

7. Paragraph 33 of Ind AS 12 has been modified due to not allowing

the option of deducting specified grant from the cost of the related

asset as in Ind AS 20.


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1. The transitional provisions given in IAS 16 and IFRIC 1 have not been given in

Ind AS 16, since all transitional provisions related to Ind ASs, wherever

considered appropriate have been included in Ind AS 101, First-time Adoption of

Indian Accounting Standards corresponding to IFRS 1, First-time Adoption of


2. Different terminology is used in this standar d, e.g., the term balance sheet is


is used instead of Statement of comprehensive income.

3. Paragraph number 64 appears as Deleted in IAS 16. In order to mainta in

consistency with paragraph numbers of IAS 16, the paragraph number is

retained in Ind AS 16.

Comparison with IAS 16, Property, Plant and Equipment and IFRIC 1, Changes in ExistingDecommissioning, Restoration and Similar Liabilities.


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Comparison with IAS 17, Leases

1. Paragraphs 18 of IAS 17 dealing with measurement of the land and buildings

elements when the lessees interest in both land and buildings is classified as an

investment property in accordance with Ind AS 40 Investment Property if the fair

value model is adopted and paragraph 19 of IAS 17 dealing with property interest

held under an operating Lease as an investment property, if the definition of

investment property is otherwise met and fair value model is applied, have beendeleted, since Ind AS 40, Investment Property, prohibits the use of fair value model.

However, paragraph numbers have been retained in Ind AS 17 to maintain


2. Paragraph numbers 14 and 15 appear as Deleted in IAS 17. In order to maintain

consistency with paragraph numbers of IAS 17, the paragraph numbers are retained in

Ind AS 17.

3. The transitional provisions given in IAS 17 and IFRIC 4 have not been given in Ind

AS 17, since all transitional provisions related to Ind ASs, wherever consideredappropriate, have been included in Ind AS 101, First-time Adoption of Indian

Accounting Standards corresponding to IFRS 1, First-time Adoption of International

Financial Reporting Standards.

4. Different terminology is used in this standard, e.g., the term balance sheet is used

instead of Statement of financial position and Statement of profit and loss is used

instead of Statement of comprehensive in come.


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Comparison with IAS 18, Revenue

The transitional provisions given in IAS 18, SIC 13 and IFRIC 13 have not been given in

Ind AS 18, since all transitional provisions related to Ind ASs, wherever considered

appropriate have been included in Ind AS 101, First -time Adoption of Indian Accounting

Standards corresponding to IFRS 1, First -time Adoption of International Financial

Reporting Standards.

2. On the basis of principles of the IAS 18, IFRIC 15 on Agreement for Construction of

Real Estate prescribes that construction of real estate should be treated as sale of

goods and revenue should be recognised when the entity has transferred significant

risks and rewards of ownership and retained neither continuing managerial

involvement nor effective control. IFRIC 15 has not been included in Ind AS 18 to

scope out such agreements and to include the same in Ind AS 11, Construction

Contracts. Paragraph 9 of Illustrative Examples of IAS 18 which is with reference to

IFRIC 15 has been deleted in Appendix E (Illustrative Examples) of Ind AS 18.

However, paragraph number 9 has been retained in Appendix E of Ind AS 18 to

maintain consistency with paragraph numbers of IAS 18..

3. Paragraph 2 of IAS 18 which states that IAS 18 supersedes t he earlier version IAS 18

is deleted in Ind AS 18 as this is not relevant in Ind AS 18. However, paragraph

number 2 is retained in Ind AS 7 to maintain consistency with paragraph numbers of

IAS 18.

4. Paragraph number 31 appear as Deleted in IAS 18. In order to maintain consistency

with paragraph numbers of IAS 18, the paragraph number is retained in Ind AS 18.


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Comparison with IAS 19, Employee Benefits

1. IAS 19 permits various options for treatment of actuarial gains and losses for

post-employment defined benefit plans whereas Ind AS 19 requires recognition of

the same in other comprehensive income, both for post -employment defined benefit

plans and other long-term employment benefit plans. The actuarial gains recognised

in other comprehensive income should be recognised immediately in retained

earnings and should not be reclassified to profit or loss in a subsequent period.Changes consequent to the aforesaid have been made in the other paragraphs.

Further,the following paragraphs of IAS 19 which are with reference to the options for

the treatment of actuarial gains or losses for post-employment options have been

deleted in Ind AS 19. In order to maintain consistency with paragraph numbers of

IAS 19, the paragraph numbers are retained in Ind AS 19:

(i) Paragraph 54(b)

(ii) Paragraph 58A (b)

(iii) Paragraph 61 (d)

(iv) Paragraph 61 (g)

(v) Paragraph 93(vi) Paragraph 93A

(vii) Paragraph 95

(vii) Paragraph 108 (c)

(viii) Paragraph 120A (f) (i)

(ix) Paragraph 120A (f) (v)

(x) Paragraph 120A (f) (viii)

(xi) Paragraph 127 (a)

(xii) Paragraph 129(d)

(xiii) Paragraph 58A (b) in The Issue contained in Appendix D

(xiv) Example 3 contained in Appendix D

2. The transitional provisions given in IAS 19 have not been given in Ind AS 19,

since all transitional provisions related to Ind ASs, wherever considered appropriate

have been included in Ind AS 101, First -time Adoption of Indian Accounting

Standards corresponding to IFRS 1, First -time Adoption of International Financial


3. The Ind AS 19 unlike IAS 19 gives guidance that detailed actuarial valuation

of defined benefit obligations may be made at intervals not exceeding three years.

4. According to Ind AS 19 the rate to be used to discount post -employment


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benefit obligation shall be determined by reference to the market yields on

government bonds, whereas under IAS 19, the government bonds can be used only

where there is no deep market of high quality corporate bonds.


used instead of Statement of financial position and Statement of profit and loss is

used instead of Statement of comprehensive income. The words approval of the

financial statements for issue have been u sed instead of authorisation of thefinancial statements for issue in the context of financial statements considered for

the purpose of events after the reporting period.

6 Paragraph number 35 appears as Deleted in IAS 19. In order to maintain

consistency with paragraph numbers of IAS 19, the paragraph number is retained in

Ind AS 19.


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Comparison with IAS 20, Accounting for Government Grants and Disclosure of Government Assistance

1. IAS 20 gives an option to measure non -monetary government grants either at

their fair value or at nominal value. Ind AS 20 requires measurement of such

grants only at their fair value. Thus, the option to measure these gr ants at

nominal value is not available under Ind AS 20.

2. IAS 20 gives an option to present the grants related to assets, including non -monetary grants at fair value in the balance sheet either by setting up the grant as

deferred income or by deducting the grant in arriving at the carrying amount of the

asset. Ind AS 20 requires presentation of such grants in balance sheet only by

setting up the grant as deferred income. Thus, the option to present such grants by

deduction of the grant in arriving at th e carrying amount of the asset is not available

under Ind AS 20. The following paragraphs of IAS 20 which are with reference to the

options for presentation of grants related to assets have been deleted in Ind AS 20.

In order to maintain consistency with p aragraph numbers of IAS 20, the paragraph

numbers are retained in Ind AS 20:

(i) Paragraph 25(ii) Paragraph 27

(iii) Paragraph 33

3. Requirements regarding presentation of grants related to income in the separate

income statement, where separate in come statement is presented under paragraph

29A of IAS 20 have been deleted. This change is consequential to the removal of

option regarding two statement approach in Ind AS 1. Ind AS 1 requires that the

components of profit or loss and components of other comprehensive income shall

be presented as a part of the statement of profit and loss. However, paragraph

number 29A has been retained in Ind AS 20 to maintain consistency with paragraph

numbers of IAS 20.

4. Different terminology is used in this sta ndard, e.g., the term balance sheet is

used instead of Statement of financial position and Statement of profit and loss is

used instead of Statement of comprehensive income.

5. Paragraph number 37 appear as Deleted in IAS 20. In order to maintain

consistency with paragraph numbers of IAS 20, the paragraph number is retained in

Ind AS 20.


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Comparison with IAS 21, The Effects of Changes in Foreign Exchange Rates

1 The transitional provisions given in IAS 21 have not been given in the Ind AS 21,

since all transitional provisions related to Indian A Ss, wherever considered

appropriate, have been included in Ind AS 101, First-time Adoption of Indian


Financial Reporting Standards.

2 Ind AS 21 permits an option to recognise exchange differences arising on

translation of certain long-term monetary items from foreign currency to functional

currency directly in equity. In this situation, Ind AS 21 requires the accumulated

exchange differences to be transferred to profit or loss in an appropriate man ner.

IAS 21 does not permit such a treatment.

3 Consequent to the optional treatment prescribed for some exchange differences

(as mentioned in 2 above), an additional disclosure has been added in paragraph

52 of Ind AS 21.

4 Different terminology is used in this Standard e.g., the term balance sheet is used

instead of Statement of financial position.


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Comparison with IAS 23, Borrowing Costs

1 IAS 23 provides no guidance as to how the adjustment prescribed in paragraph

6(e) is to be determined. Paragraph 6A is added in Ind AS 23 to provide the

guidance.

2 The following paragraph numbers app ear as Deleted in IAS 23. In order to

maintain consistency with paragraph numbers of IAS 23, the paragraph numbersare retained in Ind AS 37 :

(i) paragraph 6(a)

(ii) paragraph 6(b)

3 The transitional provisions given in IAS 23 have not been given in Ind AS 23,

since all transitional provisions related to Ind ASs, wherever considered




*******


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Comparison with IAS 24, Related Party Disclosures

1. In the Ind AS 24, disclosures which conflict with confidentiality requirements of

statute/regulations are not required to be made since Accounting Standards can

not override legal/regulatory requirements. (Paragraphs 4A and 4B of Ind AS 24).

2. In the Ind AS 24, father, mother, brother and sister relatives as specified under

the meaning of relative under the Companies Act, 1956 are included in thedefinition of the close members of the family of a person

3. Paragraph 24A has been included in th e Ind AS 24. It provides additional

clarificatory guidance regarding aggregation of transactions for disclosure.


used instead of Statement of financial position .


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Note: This Appendix is not a part of the Indian Accounting Standard. The purpose of

this Appendix is only to bring out the differences between Indian Accounting Standard

(Ind AS) 27 and the corresponding International Accounting Standard (IAS) 27,

Consolidated and Separate Financial Statements and SIC 12, ConsolidationSpecial

Purpose Entities.

1. Paragraphs 8, 10 and 42 have been deleted and paragraphs 11, 39 and 43 have

been modified as the applicability or exemptions to the Indian Accounting

Standards is governed by the Companies Act and the Rules made ther eunder.

However, paragraph numbers 8, 10 and 42 have been retained in Ind AS 27 to


2 The transitional provisions given in IAS 27 have not been given in Ind AS 27, since

all transitional provisions related to Ind ASs, wherever considered appropriate

have been included in Ind AS 101, First-time Adoption of Indian Accounting

Standards corresponding to IFRS 1, First-time Adoption of International Financial


3 Different terminology is used, as used in existing laws e.g., the term balance

sheet is used instead of Statement of financial position and Statement of profit

and loss is used instead of Statement of comprehensive income.

Comparison with IAS 27, Consolidated and Separate Financial Statements and SIC 12, ConsolidationSpecial PurposeEntities


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Comparison with IAS 28, Investments in Associates

1. Where the financial statements of an associate used in applying equity method

are prepared as of a date different from that of the investor, IAS 28 requires that

this difference should not be more than three months. However, paragraph 25

(Ind AS) 28 provides that this difference should not be more than three months,

unless impracticable. Similarly, paragraph 26 of Ind AS 28 requires use of

uniform accounting policies, unless impracticable, which IAS 28 does notprovide. These changes have been made because the investor does not have

control over the associate, it may not be able to influence the associate to

prepare additional financial statements or to follow the accounting policies that

are followed by the investor .

2. Paragraph 1(b) of IAS 28 has been deleted in Ind AS 28 as the Companies Act,

1956, is not applicable to mutual funds, unit trusts and similar entities including

investment linked insurance funds and, thus, this standard would not be

applicable to such entities. However, paragraph number 1(b) has been r etained

in Ind AS 28 to maintain consistency with IAS 28.

3. Paragraphs 5, 13(b) and 13(c) have been deleted as the applicability or

exemptions to the Indian Accounting Standards is governed by the Companies

Act and the Rules made thereunder. However, paragr aph numbers have been

retained in Ind AS 28 to maintain consistency with IAS 28.

4. Paragraph number 16 appears as Deleted in IAS 28. In order to maintain


retained in Ind AS 28

5. Paragraph 23 (b) has been modified on the lines of Ind AS 103 to transfer excessof the investors share of the associates identifiable assets and liabilities over the

cost of investment in capital reserve whereas in IAS 28, it is recognised in profit

or loss.


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Comparison with IAS 29, Financial Reporting in Hyperinflationary Economies

1 Ind AS 29 requires an additional disclosure regarding the duration of the

hyperinflationary situation existing in the economy as compared to IAS 29.




3 Different terminology is used in this standard, e.g., term balance sheet is used

instead of Statement of financial position a nd Statement of profit and loss is

used instead of Statement of comprehensive income.


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Comparison with IAS 31, Interests in Joint Ventures

1. The transitional provisions given in IAS 31 have not been given in Ind AS 31,

since all transitional provisions related to Ind ASs, wherever considered appropriate

have been included in Ind AS 101, First -time Adoption of Indian Accounting Standar ds

corresponding to IFRS 1, First -time Adoption of International Financial Reporting

Standards.

2. Different terminology is used, as used in existing laws e.g., the term balance

sheet is used instead of Stastement of financial position and Statement of profit and

loss is used instead of Statement of comprehensive income.

3. Paragraph 1(b) of IAS 31 has been deleted in Ind AS 31 as the Companies Act,

1956, is not applicable to mutual funds, unit trusts and similar entities including

investment linked insurance funds and, thus, this standard would not be applicable to

such entities. However, paragraph number 1(b) has been retained in Ind AS 31 to

maintain consistency with IAS 31

4. Sub-Paragraphs 2(b) and (c) and paragraph 6 have been deleted as the

applicability or exemptions to the Indian Accounting Standards is governed by the

Companies Act and the Rules made thereunder. However, paragraph number 6 has

been retained in Ind AS 31 to maintain consistency with IAS 31.

5. Paragraph 44 has been deleted by IASB. However, the paragraph number has

been retained in Ind AS 31 to maintain consistency with IAS 31.


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Comparison with IAS 32, Financial Instruments: Presentation

Note: This appendix is not a part of the Indian Accounting Standard. The purpose of

this Appendix is only to bring out the differences, between Indian Accounting Standard

(Ind AS) 32 and the corresponding International Accounting Standard (IAS) 3 2, Financial

Instruments; Presentation issued by the International Accounting Standards Board .

1. As an exception to the definition of financial liability in paragraph 11 (b) (ii), Ind AS32 considers the equity conversion option embedded in a convertible bond

denominated in foreign currency to acquire a fixed number of entitys own equity

instruments is considered an equity instrument if the exercise price is fixed in any

currency. This exception is not provided in IAS 32.

2. The transitional provisions given in IAS 32 have not been given in Ind AS 32, since

all transitional provisions related to Ind ASs, wherever considered appropriate have

been included in Ind AS 101, First -time Adoption of Indian Accounting Standards


Standards.

3. Different terminology is used, as used in existing laws e.g .,the term balance


and loss. is used instead of Statement of comprehensive income.

4. Requirements regarding presentation of d ividends classified as an expense in the

separate income statement, where separate income stateme nt is presented, have

been deleted. This change is consequential to the removal of option regarding two

statement approach in Ind AS 1 . Ind AS 1 requires that the components of profit or

loss and components of other comprehensive income shall be presented as a part

of the statement of profit and loss.

5. Example 7: IE 32 and Example 8: IE 33 are in the context of IFRIC 2, Members

Shares in Co-operative Entities and Similar Instruments issued by IASB As only an

individual can hold shares in cooperative entities, this IFRIC would not be relevant

for the companies. Hence, these examples are deleted in Ind AS 32. In order to

maintain consistency with paragraph numbers of IAS 32, the paragraph numbers

are retained in Ind AS 32.

5. The following paragraph numbers appear as Deleted in IAS 32. In order to maintain

consistency with paragraph numbers of IAS 32, the paragraph numbers are


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retained in Ind AS 32 :

(i) paragraph 1

(ii) paragraph 4(c)

(iii) paragraphs 5-7

(iv) AG24 of Appendix A


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Comparison with IAS 33, Earnings per Share

1 IAS 33 provides that when an entity presents both consolidated financial statements and

separate financial statements, it may give EPS related information in consolidated financial

statements only, whereas, the Ind AS 33 requires EPS related information to be disclosed

both in consolidated financial statements and separate financial statements.

2 Different terminology is used, as used in existing laws e.g., the term Statement of profitand loss is used instead of Statement of comprehensive income. The words approval of

the financial statements for issue have been used instead of authorisation of the

financial statements for issue in the context of financial statements considered for the

purpose of events after the reporting period.

3 Paragraph 2 of IAS 33 requires that the entire standard applies to :

(a) the separate or individual financial statements of an entity:

(i) whose ordinary shares or potential ordinary shares are traded in a public

market (a domestic or foreign stock exchange or an over-the-counter market,

including local and regional markets) or

(ii) that files, or is in the process of filing, its financial statements with a Securities

Regulator or other regulatory organisation for the purpose of issuing ordinary

shares in a public market; and

(b) the consolidated financial statements of a group with a parent:

(i) whose ordinary shares or potential ordinary shares are traded in a public

market (a domestic or foreign stock exchange or an over-the-counter market,

including local and regional markets) or

(ii) that files, or is in the process of filing, its financial statements with a Securities

Regulator or other regulatory organisation for the purpose of issuing ordinary

shares in a public market..

It also requires that an entity that discloses earnings per share shall calculate anddisclose earnings per share in accordance with this Standard .

The above have been deleted in the Ind AS as the applicability or exemptions to the Indian

Accounting Standards is governed by the Companies Act and the Rules made thereunder.

However, the paragraph number has been retained in Ind AS 33 to maintain consistency

with paragraph numbers of IAS 33.

4 Paragraph 4 has been modified in Ind AS 33 to clarify that an entity shall not present in

separate financial statements, earnings per share based on the information given in

consolidated financial statements, besides requiring as in IAS 33, that earnings per share

based on the information given in separate financial statements shall not be presented in


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the consolidated financial statements.

5 In Ind AS 33, a paragraph has been added after paragraph 12 on the following lines -

Where any item of income or expense which is otherwise required to be recognized in

profit or loss in accordance with accounting standards is debited or credited to securities

premium account/other reserves, the amount in respect thereof shall be deducted from

profit or loss from continuing operations for the purpose of calculating basic earnings per

share.

6 In Ind 33 paragraph 15 has been amended by adding the phrase, irrespective of

whether such discount or premium is debited or credited to securities premium

account to further clarify that such discount or premium shall also be amortised to

retained earnings.

7 Requirements regarding disclosure of amounts per share using a reported component,

basic and diluted earnings per share and basic and diluted earnings per share for

discontinued operations in the separate income statement, where separate income

statement is presented under following paragraphs of IAS 33 have been deleted:

(i) paragraph 4A

(ii) paragraph 67A

(iii) paragraph 68A

(iv) paragraph 73A

This change is consequential to the removal of option regarding the two statement

approach in Ind AS 1. Ind AS 1 onlyrequires that the components of profit or loss and

components of other comprehensive income shall be presented as a part of the statement

of profit and loss. However, paragraph numbers have been retained in Ind AS 33 to


7 Paragraph number 25 appears as Deleted in IAS 33. In order to maintain consistency withparagraph numbers of IAS 33, the paragraph number is retained in Ind AS 33:


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Comparison with IAS 34, Interim Financial Reporting

1. With regard to preparation of statement of profit and loss, International Accounting

Standard (IAS) 34, Interim Financial Reporting, provides option either to follow single

statement approach or to follow two statement approache s. But, Ind AS 34 allows

only single statement approach on the lines of Ind AS 1, Presentation of Financial

Statements which also allows only single statement approach . Paragraphs 8A and

11A of IAS 34 which provides the option are deleted. In order to maintainconsistency with paragraph numbers of IAS 34, the paragraph numbers are retained

in Ind AS 34

2. IAS 34 requires preparation of a Statement of Changes in Equity as a separate

statement. Ind AS 34 requires the statement of changes in equity to be sho wn as a

part of the balance sheet on the lines of Ind AS 1, Presentation of Financial

Statements. Paragraphs 5(c), 8(c) and 20(c) of IAS 34 which requires preparation of

a Statement of Changes in Equity as a separate statement are deleted in Ind AS 34.

In order to maintain consistency with paragraph numbers of IAS 34, the paragraph

numbers are retained in Ind AS 34.

3. Paragraph 12 of IAS 34 which makes the reference of Implementation Guidance

included in IAS 1 has been deleted in Ind AS 34 as Ind AS 1 does not include the

Implementation Guidance. In order to maintain consistency with paragraph numbers

of IAS 34, the paragraph number is retained in Ind AS 34.

4. Different terminology is used in Ind AS 34 e.g., the term balance sheet is used

instead of Statement of financial position and Statement of Profit and Loss is used

instead of Statement of comprehensive income.

5. In Examples of the Use of estimates, the IAS 34 gives reference of IAS 40 for fairvalue accounting. In Ind AS 34, the ref erence is deleted as Ind AS 40 permits only

cost model.

6. The following paragraph numbers appear as Deleted in IAS 34. In order to maintain

consistency with paragraph numbers of IAS 34, the paragraph numbers are retained

in Ind AS 34:

(i) paragraph 13

(ii) paragraphs16

(iii) paragraphs17-18

(iv) paragraph B 27 of Appendix B


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*******


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Comparison with IAS 36, Impairment of Assets



(Ind AS) 36 and the corresponding International Accounting Standard (IAS) 3 6,

Impairment of Assets issued by the International Accounting Standards Board .

1 Paragraph 2(f) of IAS 36 states that the standard shall not be applied foraccounting for the impairment of the investment property that is measured at fair

value. Ind AS 36 does not specify so as Ind AS 40 permits the cost model only.

2 The transitional provisions given in IAS 36 have not been given in Ind AS 36, since

all transitional provisions related to Ind ASs, wherever considered appropriate

have been included in Ind AS 101, First-time Adoption of Indian Accounting

Standards corresponding to IFRS 1, First-time Adoption of International Financial





3 Paragraphs 91-95 appear as Deleted in IAS 36. In order to maintain consistency

with paragraph numbers of IAS 36, the paragraph numbers are retained in Ind

AS 36.

C i i h IAS 37 P i i C i Li bili i d C i A IFRIC 5 d IFRIC 6


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Comparison with IAS 37, Provisions, Contingent Liabilities and Contingent Assets, IFRIC 5 and IFRIC 6

1 The transitional provisions given in IAS 37 and IFRIC 5 and IFRIC 6 have not been

given in Ind AS 37, since all transitional provisions related to Ind ASs, wherever

considered appropriate have been included in Ind AS 101, First-time Adoption of

Indian Accounting Standards corresponding to IFRS 1, First-time Adoption of

International Financial Reporting Standards

2 Different terminology is used in this standard, e.g., term balance sheet is used

instead of Statement of financial position and Statement o f profit and loss is used

instead of Statement of comprehensive income. Words approval of the financial

statements for issue have been used instead of authorisation of the financial

statements for issue in the context of financial statements conside red for the

purpose of events after the reporting period.

3 The following paragraph numbers appear as Deleted in IAS 37. In order to


are retained in Ind AS 37 :

(i) paragraph 1(a)

(ii) paragraph 4

*******

C i ith IAS 38 I t ibl A t d SIC I t t ti 32 I t ibl A t W b Sit C t


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Comparison with IAS 38, Intangible Assets and SIC Interpretation 32 Intangible AssetsWeb Site Costs


this Appendix is only to bring out the differences, b etween Indian Accounting Standard

(Ind AS) 38 and the corresponding International Accounting Standard (IAS) 38,

Intangible Assets (amended up to November 2009) issued by the International

Accounting Standards Board and SIC Interpretation 32 Intangible Asse tsWeb Site

Costs:

1. With regard to the acquisition of an intangible asset by way of a government

grant, IAS 38, Intangible Assets, provides the option to an entity to recognise

both asset and grant initially at fair value or at a nominal amount plus any

expenditure that is directly attributable to preparing the asset for its intended use.

Ind AS 38 allows only fair value for recognising the intangible asset and grant in

accordance with Ind AS 20.

2 The transitional provisions given in IAS 38 have not been given in Ind AS 38,





3 Different terminology is used in this standard, e.g., the term balance sheet is


is used instead of Statement of comprehen sive income.




Comparison with IAS 39 Financial Instruments: Measurement and Recognition


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Comparison with IAS 39, Financial Instruments: Measurement and Recognition



(Ind AS) 39 and the corresponding International Accounting Standard (IAS) 3 9, Financial

Instruments; Recognition and Measurement issued by the International Accounting

Standards Board.

1 A provisio has been added in Ind AS 39 that in determining the fair value of the

financial liabilities which upon initial recognition are designated at fair value through

profit or loss, any change in fair value consequent to changes in the entitys own

credit risk shall be ignored. IAS 39 requires all changes in fair values in such

liabilities to be recognised in profit or loss.

2 IAS 39 does not change the requirements relati ng to employeebenefit plans that

comply with IAS 26, Accounting and Reporting by Retirement Benefit Plans. Ind AS

39 does not mention so as IAS 26 is not relevant for companies

3 The transitional provisions given in IAS 39 and IFRIC 6, IFRIC 16 and IFRIC

19 have not been given in Ind AS 39, since Accounting Standard

corresponding to IFRS 1, First-time Adoption of International Financial

Reporting Standards, will deal with the same. The transitional provisions given in

IAS 39 and IFRIC 6, IFRIC 16 and IFRIC 19 have not been given in Ind AS 39,




Financial Reporting Standards

4 Different terminology is used, as used in existing laws e.g., the term balancesheet is used instead of Statement of financial position and Statement of profit

and losses is used instead of Statement of comprehensive income.

5 The following paragraph numbers appear as Deleted in IAS 39. In order to


are retained in Ind AS 39 :

(i) paragraph 2(f)

(ii) paragraph 3

*************

Comparison with IAS 40 Investment Property


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Comparison with IAS 40, Investment Property

1 IAS 40 permits both cost model and fair value model (except in some situations) for

measurement of investment properties after initial recognition . Ind AS 40 permits only

the cost model. The following paragraphs of IAS 40 which deal with fair value model

have been deleted in Ind AS 40. In order to maintain consistency with paragraph

numbers of IAS 40, the paragraph numbers are retained in Ind AS 40:

(i) Paragraph 6

(ii) Paragraph 31

(iii) Paragraphs 32A-32C

(iv) Paragraphs 33-35

(v) Paragraph 41

(vi) Paragraph 50

(vii) Paragraph 52

(viii) Paragraphs 60-65

(ix) Paragraph 75(b)

(x) Paragraph 75(f)(iv)

(xi) Paragraphs 76-78

2 The transitional provisions given in IAS 40 have not been included in Ind AS 40 since

all transitional provisions related to I nd ASs, wherever considered appropriate have

been included in Ind AS 101, First -time Adoption of Indian Accounting Standards


Standards.

3 IAS 40 requires disclosure of fair values of investment property when cost model is

used. Since this requirement is retained in Ind AS 40, paragraphs 53, 53A, 53B, 54

and 55 and certain other paragraphs of IAS 40 have been modified. The modifications

include substitution of fair value measurement with fair value determination/disclosureand deletion of reference to use of cost model when fair value determination is

unreliable.

4 IAS 40 permits treatment of property interest held in an operating lease as investment

property, if the definition of investment propert y is otherwise met and fair value model

is applied. In such cases, the operating lease would be accounted as if it were a

finance lease. Since Ind AS 40 prohibits the use of fair value model, this treatment is

prohibited in Ind AS 40. As a result, paragrap h 6 of IAS 40 has been deleted in Ind AS

40 (see point 1(i) above). In addition, the expression investment property under a

finance or operating lease appearing in paragraph 74 of IAS 40 has been modified as

investment property under a finance lease in Ind AS 40.


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investment property under a finance lease in Ind AS 40.

5 As a result of prohibition of use of fair value model in Ind AS 40, there are some

modifications in the wording of paragraph 26 (removal of the words for the fair value

model), paragraphs 30 and 32 (Accounting policy), heading above para graph 33

(Fair value determination instead of Fair value model), para graph 56 , paragraph

59 (deletion of portion relating to fair value model), para graph 68 (deletion of a

portion dealing with fair value model), heading above para graph 74 (deletion of the

heading Fair value model and cost model ) and 75(a) (disclosure of accounting

policy) as compared to the wording used in IAS 40 .

6 Different terminology is used in this Standard e.g., the term balance sheet is used

instead of Statement of financial position.

7 The following paragraphs appear as Deleted in IAS 40. In order to maintain

consistency with paragraph numbers of IAS 40, the paragraph numbers are retained

in Ind AS 40:

(i) Paragraph 9(d)

(ii) Paragraph 22(iii) Paragraph 57(e)


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Note: This Appendix is not a part of the Indian Accounting Standard (Ind AS) 101, First -time

Adoption of Indian Accounting Standards. The purpose of this Appendix is only to highlight

differences between Ind AS 101 and corresponding International Financial Reporting

Standard (IFRS) 1, First-time Adoption of International Financial Reporting Standards.

1. Paragraph 2A of Ind AS 101 states that the entities that have filed financial statements

prepared in accordance with IFRS with regulatory authorities can adopt, for the purpose

of Ind AS 101, the balance sheet so filed as at the end of the immediately preceding

financial year as the opening Ind AS balance sheet after making adjustments for

differences between Ind-ASs and IFRSs. IFRS 1 does not have such a specific

requirement. Consequential to this, new paragraphs 24A and 32B have been included in

Ind AS 101.

2. Ind-AS 101 specifies that an entitys first Ind-AS financial statements are the first annualfinancial statements in which the entity adopts Ind -ASs in accordance with Ind-ASs

notified under the Companies Act, 1956 whereas IFRS 1 provides various examples of

first IFRS financial statements.

3. Paragraph 4 of IFRS 1 provides various examples of instances when an entity does not

apply this IFRS. Ind AS 101 does not provides the same. In order to maintain

consistency with paragraph numbers of IFRS 1, the paragraph number is retained in Ind

AS 101.

4. Paragraph 32 (c) of IFRS 1 has been deleted in Ind AS 101 and included as paragraph

32A as a consequence of redrafting of the paragraph 32 in Ind AS 101. In order to

maintain consistency with paragraph numbers of IFRS 1, the paragraph number is


5. IFRS 1 defines transitional date as beginning of the earliest period for which an entity

presents full comparative information under IFRS. It is this date which is the starting

point for IFRS and it is on this date the cumulative impact of transition is recorded based

on assessment of conditions at that date by applying the standards retrospectively

except to the extent specifically provided in this standard as optional exemptions and

mandatory exceptions.

Ind-AS 101, however, provides that the date of transition is the beginning of the currentperiod and in addition provides an option to present comparative financial statements in

accordance with Ind-AS on a memorandum basis.

Arising from this fundamental change, there are other consequential changes to Ind -AS

101. For example, disclosures required under paragraph 21 and reconciliations under

Major differences between Indian Accounting Standard (Ind-AS) 101 First-time Adoption of Indian Accounting

Standards and IFRS 1


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recgonition requirements for transactions entered after 1 January, 2004. However,

for Ind-AS 101 purposes, all these dates have been changed to coincide with the

transition date elected by the entity adopting th ese converged standards i.e. Ind-AS;

Paragraph D2 of IFRS 1 provides that an entity is encouraged, but not required, to

apply IFRS 2 Share-based Payment to equity instruments that were granted on or

before 7 November 2002 or to instruments that were granted after 7 November 2002

and vested before the later of (a) the date of transition to IFRSs and (b) 1 January

2005. However, for Ind-AS 101 purposes, all these dates have been changed to

coincide with the transition date elected by the entity adopting these converged

standards i.e. Ind-AS;

(b) Deletion of certain exemptions not relevant for India. Certain instances of such items

are as follows:

Paragraph D10 of IFRS 1 provides an entity that adopted the corridor approach for

recording actuarial gain and losses arising from accounting for employee obligations

with an option to recognize the entire such gain or loss to retained earnings, at the

date of transition, rather than requiring them to split such gains and losses as

recognized and unrecognized gains and losses. In India, since corridor approach isnot elected, the resultant first time transition provision has been deleted ,. In order to

maintain consistency with paragraph numbers of IFRS 1, the paragraph number is

retained in Ind AS 101;

Paragraph D23 of IFRS 1 provides for transitional adjustment requiring companies to

apply the provisions of IAS 23 to be applied prospectively after the transition date.

However, this was considered as not releva nt in Indian situation as Ind AS 23 AS 16

always required an entity to capitalize borrowing costs as compared to IAS 23 where

it provided an option to expense out such borrowing cost . Consequently, paragraphs

IG 23 and IG 24 have also been deleted. In order to maintain consistency with

paragraph numbers of IFRS 1, the paragraph numbers are retained in Ind AS 101.

and

(c) Inclusion/modification of existing exemptions to make it relevant for India. For

example,

Paragraph D7A has been added to provide for transitional relief from the

retrospective application of Ind AS 16 : Property, Plant and Equipment . Paragraph

D7A provides an entity option to use carrying values of all such assets on or

before April 1, 2007 in accordance with previous GAAP as an acceptable starting

point under Ind-AS. Paragraph 27B has been included in Ind AS 101 which

requires the disclosure that if an entity adopts for first time exemption the option

provided in accordance with paragraph D7A, the fact and the accounting policy

shall be disclosed by the entity until such time that significant block of suchassets is fully depreciated or derecognised from the entitys Balance Sheet.

Paragraph D9 provides for transitional relief from retrospective application of

paragraphs 6-9 of the Appendix C of Ind AS 17.

Paragraph D11A has been added to provide the transitional relief from the

Comparison with IFRS 2, Share-based Payment


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1. The transitional provisions given in IFRS 2 and portions related thereto

have not been given in Ind AS 102, since all transitional provisions related

to Indian ASs, wherever considered appropriate, have been included in Ind

AS 101, First-time Adoption of Indian Accounting Standards corresponding

to IFRS 1, First-time Adoption of International Financial Reporting

Standards. This has resulted in deletion of Paragraph IG8 in Appendix E.

In order to maintain consistency with paragraph numbers of IFRS 2, the

paragraph number is retained in Ind AS 102:

2. Cross-reference to paragraphs B1-B4 of IFRS 3 contained in paragraph 5

of IFRS 2 has been modified as cross-reference to Appendix C of Ind AS

103 in paragraph 5 of Ind AS 102. This is consequential to the insertion of

Appendix C in Ind AS 102 to deal with business combination of entities

under common control.

3. Different terminology is used in the Standard. e.g., the term balance sheet

is used instead of Statement of financial position.

4. Paragraph number 3 appears as Deleted in IFRS 2. In order to maintain

consistency with paragraph numbers of IFRS 2, the paragraph number is


Comparison with IFRS 3, Business Combinations


40/45

1. IFRS 3 excludes from its scope business combinations of entities under common

control. Ind AS 103 (Appendix C) gives the guidance in this regard. Consequently,

paragraph 2 has been modified in Ind AS 103. Further, paragraphs B1-B4 of IFRS

103 have been deleted in Ind AS 103. In o rder to maintain consistency with

paragraph numbers of IFRS 3, the paragraph numbers are retained in Ind AS 103 .

2. The transitional provisions given in IFRS 3 have not been given in Ind AS 103,

since all transitional provisions related to Ind A Ss, wherever considered

appropriate have been included in Ind AS101, First-time Adoption of Indian


Financial Reporting Standards, will deal with the same.

3. IFRS 3 requires bargain purchase gain arising on business combination to be

reconised in profit or loss. Ind AS 103 requires the same to be recognised in other

comprehensive income and accumulated in equity as capital reserve, unless there

is no clear evidence for the underlying reason f or classification of the business

combination as a bargain purchase, in which case, it shall be recognised directly inequity as capital reserve. This has some consequential changes such as change in

wording of paragraphs 34 and 36, paragraphs IE47 and IE48 of illustrative

examples, additional disclosure in paragraph B64(n) and addition of new

paragraph 36A. Cross-reference to the new paragraph 36A has been added in

paragraphs B46, B64(n), Appendix E-heading above paragraph IE45 and text

below paragraph IE48.


sheet is used instead of Statement of financial position, Statement of profit and

loss is used instead of Statement of comprehensive income. The wordsapproved the financial statements for issue have been used instead of authori sed

the financial statements for issue in the context of financial statements considered

for the purpose of events after the reporting period.

Comparison with IFRS 4, Insurance Contracts


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1. Different terminology is used, to make it consistent with existing laws e.g.,

term balance sheet is used instead of Statement of financial position and

Statement of profit and loss is used instead of Statement of comprehensive

income.

2. The transitional provisions given in IFRS 4 have not been given in Ind AS

104, since all transitional provisions related to Ind ASs, wherever considered


Accounting Standards corresponding to IFRS1, First-time Adoption of

International Financial Reporting Standards .

3. Paragraphs 39(b), IG 44, IG 49, IG 50, IG 54, IG 63 and IG 65 have been

deleted in IFRS 4 by IASB. However, paragraph numbers have be en retained

in Ind AS 104 to maintain consistency with IFRS 4.

Comparison with IFRS 5, Non-current Assets Held for Sale and Discontinued Operations


42/45


this Appendix is only to bring out the differences, if any, between Indian Accounting

Standard (Ind AS) 105 and the corresponding International Financial Reporting

Standard (IFRS) 5, Non-current Assets Held for Sale and Discontinued Operations

issued by the International Accounting Standards Board .

1. The transitional provisions given in IFRS 5 have not been given in Ind AS 105,





2 Different terminology is used in this standard, e.g., the term balance sheet is

used instead of Statement of financial position and Statement of profit and

loss is used instead of Statement of comprehensive income. Words

approval of the financial statements for issue have been used instead of

authorisation of the financial statements for issue in the context of financialstatements considered for the purpose of events after the reporting period.

3. Requirements regarding presentation of dis continued operations in the

separate income statement, where separate income statement is presented

under paragraph 33A of IFRS 5 have been deleted. This change is

consequential to the removal of option regarding two statement approach in Ind

AS 1. Ind AS 1 requires that the components of profit or loss and components

of other comprehensive income shall be presented as a part of the statement

of profit and loss. However, paragraph number 33A has been retained in Ind

AS 105 to maintain consistency with p aragraph numbers of IFRS 5.

Comparison with IFRS 6, Exploration for and Evaluation of Mineral Resources


43/45

1. The transitional provisions given in IFRS 6 have not been given in Ind AS 106, since all

transitional provisions related to Ind ASs, wherever considered appropriate have been

included in Ind AS 101, First-time Adoption of Indian Accounting Standards

corresponding to IFRS 1, First-time Adoption of International Financial Reporting

Standards.

Comparison with IFRS 7, Financial Instruments: Disclosures


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1. The transitional provisions given in IAS 107 have not been given in Ind AS 107, since all

transitional provisions related to Ind ASs, wherever considered appropriate have been included

in Ind AS 101, First-time Adoption of Indian Accounting Standards corresponding to IFRS 1,

First-time Adoption of International Financial Reporting Standards.

2. Different terminology is used, as used in existing laws e.g., the term balance sheet is

used instead of Statement of financial position and Statement of profit and loss is used

instead of Statement of comprehensive income. Words approved for issue have been used

instead of authorised for issue in the context of financial statements considered for the pu rpose

of events after the reporting period.

3. Requirements regarding disclosure of description of gains and losses presented in the

separate income statement, where separate income statement is presented, have been deleted.

This change is consequential to t he removal of option regarding two statement approach in Ind

AS 1 as compared to IAS 1. Ind AS 1 requires that the components of profit or loss and

components of other comprehensive income shall be presented as a part of the statement of

profit and loss.

4. The following paragraph numbers appear as Deleted in IFRS 7. In order to maintain

consistency with paragraph numbers of Ind 107, the paragraph numbers are retained in Ind AS 107

(i) paragraph 3(c)

(ii) paragraph 36 (d)

(iii) paragraph 37(c)

(iv) paragraphs B12-B16 of Appendix B

(v) paragraphs IG3- IG4 of Appendix D

(vi) paragraphs IG30-IG31 of Appendix D

Comparison with IFRS 8, Operating Segments


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1. The transitional provisions given in IFRS 108 has not been given in Ind AS 1 08,




Financial Reporting Standards




ind_as_vs_ifrs

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