Indian Accounting Standards
(Ind AS): Disclosures Checklist
For Accounting year 2018-19 (Revised May 2019)
The Institute of Chartered Accountants of India
(Set up by an Act of Parliament)
New Delhi
© THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
All rights reserved. No part of this publication may be reproduced, stored in a
retrieval system, or transmitted, in any form, or by any means, electronic,
mechanical, photocopying, recording, or otherwise without prior permission, in
writing, from the publisher.
Revised Edition : May, 2019
Committee/Department : Accounting Standards Board
E-mail : asb@icai.in
Website : www.icai.org
Price : Rs.150/-
ISBN : 978-81-8441-802-6
Published by : The Publication Department on behalf of the
Institute of Chartered Accountants of India,
ICAI Bhawan, Post Box No. 7100,
Indraprastha Marg, New Delhi - 110 002.
FOREWORD
Financial reporting in India has undergone a momentous transformation owing to
the adoption of Indian Accounting Standards (Ind AS). This paradigm shift has
made the Indian financial reporting framework at par with the global standards of
reporting for public interest entities. ICAI is making continuous endeavour to
remain converged with global standards at all the time. Implementation of Ind AS
has led to many perceived benefits to various stakeholders, who have
complimented ICAI on its efforts/initiatives in guiding/supporting the stakeholders
in this mega transition of financial reporting.
ICAI had come out with a Publication on `Ind AS Disclosures Checklist' in 2018 to
provide all the Ind AS disclosures at one place for the assistance of members
and other stakeholders. With the implementation of Ind AS 115, Revenue from
Contract with Customers, and withdrawal of Ind AS 11, Construction Contracts,
and Ind AS 18, Revenue, from the accounting year beginning April 1, 2018, it has
been decided to revise the publication and provide the updated information for
the benefit of the members and other stakeholders. It gives me immense
pleasure to share this revised Publication on `Ind AS Disclosure Checklist'
capturing amendments in disclosure requirements under Ind AS applicable for
accounting year 2018-19.
I congratulate the Accounting Standards Board in taking this initiative of revising
the publication. I would like to place on record my deep appreciation of CA. M.P.
Vijay Kumar, Chairman, Accounting Standards Board, CA. Sanjeev Kumar
Singhal, Vice-Chairman, Accounting Standards Board, and members of the
Accounting Standards Board who have made invaluable contribution in the
various activities of the Board and bringing out this timely revised Publication.
I am confident that this Publication would be helpful to the members and other
stakeholders.
New Delhi CA. Prafulla P. Chhajed
May 14, 2019 President, ICAI
PREFACE
To provide the nation with robust high quality globally acceptable accounting
standards, the Institute of Chartered Accountants of India (ICAI) spearheaded
the implementation of IFRS-converged Indian Accounting Standards (Ind AS).
The ICAI continues to make efforts to ensure that these Standards are remain
converged with IFRS at all time and implemented in the same spirit in which
these have been formulated.
With the implementation of Ind AS, the requirements to provide detailed
disclosures, including disclosures of assumptions, estimations, business models,
alternative measurement bases and sources of estimation uncertainty, amongst
others have also increased. The role and importance of disclosures in financial
reporting have also enhanced the role and responsibility of the auditors regarding
financial statement disclosures to support their opinion on the financial
statements as a whole.
The Accounting Standards Board of the ICAI had brought out this Publication in
June 2018 to provide a ready reckoner of all the disclosures required by Ind AS,
including disclosure requirements under Ind AS 11 and Ind AS 18 and also
included disclosures required under Ind AS 115, Revenue from Contracts with
Customers. However, with effect from April 1, 2018, Ind AS 11 and Ind AS 18
stands withdrawn, accordingly, the Publication has been updated to capture
requirements for the accounting year 2018-19.
This publication is for guidance purposes and should be read in conjunction with
the relevant Ind AS and should not be considered as an alternative to studying
the Ind AS. This disclosure checklist does not include disclosure requirements
under other regulatory requirements, e.g., Schedule III of Companies Act 2013.
The disclosure checklist table have reference of the paragraph number of the
standard which requires disclosures under the standards, for e.g., 101.22 which
indicates paragraph 22 of Ind AS 101.
I would like to convey my sincere gratitude to our Honourable President, CA.
Prafulla P. Chhajed and Vice-President, CA. Atul Gupta, for providing us an
opportunity to bring out this updated publication. I am thankful to CA. Sanjeev
Singhal, Vice-Chairman, for taking the initiative of leading the Study Group and
updating the Disclosure Check list. I am also thankful to other members of the
Accounting Standards Board for supporting the endeavours of the Board and all
the members of the Study Group, namely, CA. Anuradha Jain, CA. Dilip Jain,
CA. Kapil Gupta, CA. Sarika Gosain and CA. Krishan Kant Tulshan for their
contribution in preparing the updated Publication.
I wish to place on record the technical contribution made by CA. Vidhyadhar
Kulkarni, Secretary, Accounting Standards Board and technical team of the
Board for continuous support and efforts for carrying out activities of the Board.
I am confident that members of the profession and all stakeholders, particularly
auditors and prepares of financial statements will find this revised Publication on
Disclosure Checklist immensely useful.
New Delhi CA. M. P. Vijay Kumar
May 13, 2019 Chairman
Accounting Standards Board
Contents
Title of Ind AS Page
Ind AS 1, Presentation of Financial Statements 1
Ind AS 2, Inventories 6
Ind AS 7, Statement of Cash Flows 7
Ind AS 8, Accounting Policies, Changes in Accounting 10
Estimates and Errors
Ind AS 10, Events after the Reporting Period 13
Ind AS 12, Income Taxes 15
Ind AS 16, Property, Plant and Equipment 19
Ind AS 17, Leases 22
Ind AS 19, Employee Benefits 26
Ind AS 20, Accounting for Government Grants and 33
Disclosure of Government Assistance
Ind AS 21, The Effects of Changes in Foreign Exchange 34
Rates
Ind AS 23, Borrowing Costs 36
Ind AS 24, Related Party Disclosures 37
Ind AS 27, Separate Financial Statements 41
Ind AS 29, Financial Reporting in Hyperinflationary 43
Economies
Ind AS 33, Earnings per Share 44
Ind AS 34, Interim Financial Reporting 46
Ind AS 36, Impairment of Assets 51
Ind AS 37, Provisions, Contingent Liabilities and 59
Contingent Assets
Ind AS 38, Intangible Assets 61
Ind AS 40, Investment Property 65
Ind AS 41, Agriculture 68
Ind AS 101, First-time Adoption of Indian Accounting 71
Standards
Ind AS 102, Share-based Payment 76
Ind AS 103, Business Combinations 80
Ind AS 104, Insurance Contracts 87
Ind AS 105, Non-current Assets Held for Sale and 90
Discontinued Operations
Ind AS 106, Exploration for and Evaluation of 94
Mineral Resources
Ind AS 107, Financial Instruments: Disclosures 95
Ind AS 108, Operating Segments 129
Ind AS 112, Disclosure of Interest in Other Entities 136
Ind AS 113, Fair Value Measurement 151
Ind AS 114, Regulatory Deferral Account 154
Ind AS 115, Revenue from Contracts with Customers 159
Appendix A, Comparison of IFRS with Ind AS notified by the 166
MCA (As on April 1, 2018)
Disclosures Checklist of Indian Accounting
Standards (Ind AS)1
Ind AS 1, Presentation of Financial Statements
S. Paragr Disclosure Ye N N
No aph s o A
Refere
nce
1. 1.16 When financial statements comply with Ind AS,
disclosure by way of an explicit and unreserved
statement of such compliance in the notes.
2. 1.17(c) Additional disclosures when compliance with the
specific requirements in Ind ASs is insufficient to
enable users to understand the impact of particular
transactions, other events and conditions on the
entity's financial position and financial performance.
3. 1.19- In the extremely rare circumstances in which
1.20 management concludes that compliance with a
requirement in an Ind AS would be so misleading that
it would conflict with the objective of financial
statements set out in the Framework, the entity shall
departs from that requirement if the relevant
regulatory framework requires, or otherwise does not
prohibit, such a departure), and it shall disclosure
that:
(a) management has concluded that the financial
statements present a true and fair view of the
entity's financial position, financial performance
and cash flows;
(b) it has complied with applicable Ind ASs, except
that it has departed from a particular requirement
to present a true and fair view;
(c) the title of the Ind AS from which the entity has
departed, the nature of the departure, including
the treatment that the Ind AS would require, the
reason why that treatment would be so
1
This disclosure checklist contains disclosure required under Ind AS. The disclosures requirements under
other statutes, for e.g., Company Law, Schedule III, may also be referred separately. ICAI Publication on Ind
AS: An Overview, may be referred for summary of Ind AS.
1
S. Paragr Disclosure Ye N N
No aph s o A
Refere
nce
misleading in the circumstances that it would
conflict with the objective of financial statements
set out in the Framework, and the treatment
adopted; and
(d) for each period presented, the financial effect of
the departure on each item in the financial
statements that would have been reported in
complying with the requirement.
4. 1.21 In case entity departed from a requirement of an Ind
AS in a prior period, and that departure affects the
amounts recognised in the financial statements for
the current period, disclosures set out in paragraph
1.20 (c) and 1.20 (d).
5. 1.25 When management is aware of material uncertainties
related to events or conditions that may cast
significant doubt upon the entity's ability to continue
as a going concern but going concern concluded to
be valid and financial statements are prepared on a
going concern basis, disclosure of those
uncertainties.
When financial statement are not prepared on going
concern basis, disclosure of that fact, together with
basis on which entity it prepared financial statements
and the reason why the entity is not regarded as a
going concern.
6. 1.117 Disclosure of significant accounting policies
comprising:
(a) the measurement basis (or bases) used in
preparing the financial statements; and
(b) the other accounting policies used that are
relevant to an understanding of the financial
statements.
7. 1.121 Disclosure of each significant accounting policy that
is not specifically required by Ind ASs but the entity
selects and applies in accordance with Ind AS 8.
(An accounting policy may be significant because of
the nature of the entity's operations even if amounts
2
S. Paragr Disclosure Ye N N
No aph s o A
Refere
nce
for current and prior periods are not material.)
8. 1.122 Disclosure of, along with its significant accounting
policies or other notes, the judgements, apart from
those involving estimations, (see paragraph 1.125)
made by management in the process of applying the
entity's accounting policies and that have the most
significant effect on the amounts recognised in the
financial statements.
9. 1.125 Disclosure of information about the assumptions
made about the future, and other major sources of
estimation uncertainty at the end of the reporting
period, that have a significant risk of resulting in a
material adjustment to the carrying amounts of assets
and liabilities within the next financial year. The notes
shall include details of:
(a) their nature, and
(b) their carrying amount as at the end of the
reporting period.
10. 1.131 If it is impracticable to disclose the extent of the
possible effects of an assumption or another source
of estimation uncertainty at the end of the reporting
period, disclosures that it is reasonably possible, on
the basis of existing knowledge, that outcomes within
the next financial year that are different from the
assumption could require a material adjustment to
the carrying amount of the asset or liability affected.
In all cases, disclosure of the nature and carrying
amount of the specific asset or liability (or class of
assets or liabilities) affected by the assumption.
11. 1.134- Disclosure of the following information to enables
1.135 users of its financial statements to evaluate the
entity's objectives, policies and processes for
managing capital:
(a) qualitative information about its objectives,
policies and processes for managing capital,
including:
(i) a description of what it manages as capital;
3
S. Paragr Disclosure Ye N N
No aph s o A
Refere
nce
(ii) when an entity is subject to externally
imposed capital requirements, the nature of
those requirements and how those
requirements are incorporated into the
management of capital; and
(iii) how it is meeting its objectives for managing
capital.
(b) summary quantitative data about what it manages
as capital. Some entities regard some financial
liabilities (eg some forms of subordinated debt)
as part of capital. Other entities regard capital as
excluding some components of equity (eg
components arising from cash flow hedges).
(c) any changes in (a) and (b) from the previous
period.
(d) whether during the period it complied with any
externally imposed capital requirements to which
it is subject.
(e) when the entity has not complied with such
externally imposed capital requirements, the
consequences of such non-compliance.
12. 1.136 Disclosure of information separately for each capital
requirement to which the entity is subject, when an
aggregate disclosure of capital requirements and how
capital is managed would not provide useful
information or distorts a financial statement user's
understanding of an entity's capital resources.
13. 1.136A For puttable financial instruments classified as equity
instruments, disclosure of (to the extent not disclosed
elsewhere):
(a) summary quantitative data about the amount
classified as equity;
(b) its objectives, policies and processes for
managing its obligation to repurchase or redeem
the instruments when required to do so by the
instrument holders, including any changes from
the previous period;
(c) the expected cash outflow on redemption or
4
S. Paragr Disclosure Ye N N
No aph s o A
Refere
nce
repurchase of that class of financial instruments;
and
(d) information about how the expected cash outflow
on redemption or repurchase was determined.
14. 1.137 Disclosure in the notes:
(a) the amount of dividends proposed or declared
before the financial statements were approved
for issue but not recognised as a distribution to
owners during the period, and the related amount
per share; and
(b) the amount of any cumulative preference
dividends not recognised.
15. 1.138 Disclosure of the following, if not disclosed elsewhere
in information published with the financial statements:
(a) the domicile and legal form of the entity, its
country of incorporation and the address of its
registered office (or principal place of business, if
different from the registered office);
(b) a description of the nature of the entity's
operations and its principal activities;
(c) the name of the parent and the ultimate parent of
the group; and
(d) if it is a limited life entity, information regarding the
length of its life.
5
Ind AS 2, Inventories
S. Parag Disclosure Y N N
No raph e o A
Refer s
ence
1. 2.36 Disclosure of:
(a) the accounting policies adopted in measuring
inventories, including the cost formula used
(b) the total carrying amount of inventories and the
carrying amount in classifications appropriate to
the entity
(c) the carrying amount of inventories carried at fair
value less costs to sell
(d) the amount of inventories recognised as an
expense during the period
(e) the amount of any write-down of inventories
recognised as an expense in the period in
accordance with paragraph 2.34.
(f) the amount of any reversal of any write-down that is
recognised as a reduction in the amount of
inventories recognised as expense in the period in
accordance with paragraph 2.34
(g) the circumstances or events that led to the reversal
of a write down of inventories in accordance with
paragraph 2.34
(h) the carrying amount of inventories pledged as
security for liabilities.
2. 2.39 In case entity adopts a format for profit and loss that
results in amounts being disclosed other than the cost
of inventories recognised as an expense during the
period and the entity presents an analysis of expenses
using a classification based on the nature of
expenses, disclosures of the costs recognised as an
expense for raw materials and consumables, labour
costs and other costs together with the amount of the
net change in inventories for the period.
6
Ind AS 7, Cash Flow Statements
S. Parag Disclosure Y N N
No raph e o A
Refer s
ence
1. 7.40 Disclosure of, in aggregate, in respect of both
obtaining and losing control of subsidiaries or other
businesses during the period each of the following:
(a) the total consideration paid or received;
(b) the portion of the consideration consisting of cash
and cash equivalents;
(c) the amount of cash and cash equivalents in the
subsidiaries or other businesses over which
control is obtained or lost; and
(d) the amount of the assets and liabilities other than
cash or cash equivalents in the subsidiaries or
other businesses over which control is obtained or
lost, summarised by each major category.
2. 7.44A Disclosures that enable users of financial statements
to evaluate changes in liabilities arising from financing
activities, including both changes arising from cash
flows and non-cash changes.
3. 7.44B To the extent necessary to satisfy the requirement in
paragraph 7.44A, disclosure of the following changes
in liabilities arising from financing activities:
(a) changes from financing cash flows;
(b) changes arising from obtaining or losing control of
subsidiaries or other businesses;
(c) the effect of changes in foreign exchange rates;
(d) changes in fair values; and
(e) other changes.
4. 7.44C Liabilities arising from financing activities are liabilities
for which cash flows were, or future cash flows will be,
classified in the statement of cash flows as cash flows
from financing activities. In addition, the disclosure
requirement in paragraph 7.44A also applies to
changes in financial assets (for example, assets that
hedge liabilities arising from financing activities) if cash
flows from those financial assets were, or future cash
flows will be, included in cash flows from financing
7
S. Parag Disclosure Y N N
No raph e o A
Refer s
ence
activities.
5. 7.44D One way to fulfil the disclosure requirement in
paragraph 7.44A is by providing a reconciliation
between the opening and closing balances in the
balance sheet for liabilities arising from financing
activities, including the changes identified in paragraph
44B. Where an entity discloses such a reconciliation, it
shall provide sufficient information to enable users of
the financial statements to link items included in the
reconciliation to the balance sheet and the statement
of cash flows.
6. 7.44E If an entity provides the disclosure required by
paragraph 7.44A in combination with disclosures of
changes in other assets and liabilities, it shall disclose
the changes in liabilities arising from financing
activities separately from changes in those other
assets and liabilities.
7. 7.45 Disclosure of the components of cash and cash
equivalents.
8. 7.48 Disclosure, together with a commentary by
management, of the amount of significant cash and
cash equivalent balances held by the entity that are
not available for use by the group.
9. 7.50 Additional information may be relevant to users in
understanding the financial position and liquidity of an
entity. Optional disclosure of this information, together
with a commentary by management, is encouraged
and may include:
(a) the amount of undrawn borrowing facilities that
may be available for future operating activities and
to settle capital commitments, indicating any
restrictions on the use of these facilities;
(b) the aggregate amount of cash flows that represent
increases in operating capacity separately from
those cash flows that are required to maintain
operating capacity; and
(c) the amount of the cash flows arising from the
operating, investing and financing activities of
8
S. Parag Disclosure Y N N
No raph e o A
Refer s
ence
each reportable segment (Ind AS 108, Operating
Segments).
10. 7.52 Disclosure of segmental cash flows to enables users
to obtain a better understanding of the relationship
between the cash flows of the business as a whole
and those of its component parts and the availability
and variability of segmental cash flows.
9
Ind AS 8, Accounting Policies, Changes in Accounting
Estimates and Errors
Disclosure requirements for accounting policies are laid down in Ind AS 1,
Presentation of Financial Statements. However, the disclosures required for
changes in accounting policies are as set out in this Accounting Standard.
S. Parag Disclosure Y N N
No raph e o A
Refer s
ence
1. 8.28 When initial application of an Ind AS has an effect on
the current period or any prior period, would have such
an effect except that it is impracticable to determine
the amount of the adjustment, or might have an effect
on future periods, disclosure of:
(a) the title of the Ind AS;
(b) when applicable, that the change in accounting
policy is made in accordance with its transitional
provisions;
(c) the nature of the change in accounting policy;
(d) when applicable, a description of the transitional
provisions;
(e) when applicable, the transitional provisions that
might have an effect on future periods;
(f) for the current period and each prior period
presented, to the extent practicable, the amount of
the adjustment:
(i) for each financial statement line item affected;
and
(ii) if Ind AS 33, Earnings per Share, applies to the
entity, for basic and diluted earnings per share;
(g) the amount of the adjustment relating to periods
before those presented, to the extent practicable;
and
(h) if retrospective application required by paragraph
19(a) or (b) is impracticable for a particular prior
period, or for periods before those presented, the
circumstances that led to the existence of that
condition and a description of how and from when
the change in accounting policy has been applied.
10
S. Parag Disclosure Y N N
No raph e o A
Refer s
ence
2. 8.29 When a voluntary change in accounting policy has an
effect on the current period or any prior period, would
have an effect on that period except that it is
impracticable to determine the amount of the
adjustment, or might have an effect on future periods,
disclosure of:
(a) the nature of the change in accounting policy;
(b) the reasons why applying the new accounting
policy provides reliable and more relevant
information;
(c) for the current period and each prior period
presented, to the extent practicable, the amount of
the adjustment:
(i) for each financial statement line item affected;
and
(ii) if Ind AS 33 applies to the entity, for basic and
diluted earnings per share;
(d) the amount of the adjustment relating to periods
before those presented, to the extent practicable;
and
(e) if retrospective application is impracticable for a
particular prior period, or for periods before those
presented, the circumstances that led to the
existence of that condition and a description of
how and from when the change in accounting
policy has been applied.
3. 8.30 When an entity has not applied a new Ind AS that has
been issued but is not yet effective, disclosure of:
(a) this fact; and
(b) known or reasonably estimable information
relevant to assessing the possible impact that
application of the new Ind AS will have on the
entity's financial statements in the period of initial
application
4. 8.31 In complying with paragraph 8.30, an entity considers
disclosing:
(a) the title of the new Ind AS;
(b) the nature of the impending change or changes in
11
S. Parag Disclosure Y N N
No raph e o A
Refer s
ence
accounting policy;
(c) the date by which application of the Ind AS is
required;
(d) the date as at which it plans to apply the Ind AS
initially; and
(e) either:
(i) a discussion of the impact that initial application
of the Ind AS is expected to have on the
entity's financial statements; or
(ii) if that impact is not known or reasonably
estimable, a statement to that effect.
5. 8.39 Disclosure of the nature and amount of a change in an
accounting estimate that has an effect in the current
period or is expected to have an effect in future
periods, except for the disclosure of the effect on
future periods when it is impracticable to estimate that
effect.
6. 8.40 If the amount of the effect in future periods is not
disclosed because estimating it is impracticable,
disclosure of that fact.
7. 8.49 Disclosure of the following to comply paragraph 8.42:
(a) the nature of the prior period error;
(b) for each prior period presented, to the extent
practicable, the amount of the correction:
(i) for each financial statement line item affected;
and
(ii) if Ind AS 33 applies to the entity, for basic and
diluted earnings per share;
(c) the amount of the correction at the beginning of the
earliest prior period presented; and
(d) if retrospective restatement is impracticable for a
particular prior period, the circumstances that led
to the existence of that condition and a description
of how and from when the error has been
corrected. Financial statements of subsequent
periods need not repeat these disclosures.
12
Ind AS 10, Events after the Reporting Period
S. Paragr Disclosure Y N N
No aph e o A
Refere s
nce
1. 10.17 Disclosure of the date when the financial statements
were approved for issue and who gave that approval.
If the entity's owners or others have the power to
amend the financial statements after issue, disclosure
of that fact
2. 10.19 In case entity receives information after the reporting
period about conditions that existed at the end of the
reporting period update disclosures that relate to those
conditions, in the light of new information.
3. 10.21 For each material category of non-adjusting events
after the reporting period, disclosure of the following:
(a) the nature of the event; and
(b) an estimate of its financial effect, or a statement
that such an estimate cannot be made.
4. 10.22 Examples of non-adjusting events after the reporting
period that would generally result in disclosure are as
follows:
(a) a major business combination after the reporting
period Ind AS 103, Business Combinations,
requires specific disclosures in such cases) or
disposing of a major subsidiary;
(b) announcing a plan to discontinue an operation;
(c) major purchases of assets, classification of assets
as held for sale in accordance with Ind AS 105,
Non-current Assets Held for Sale and Discontinued
Operations, other disposals of assets, or
expropriation of major assets by government;
(d) the destruction of a major production plant by a fire
after the reporting period;
(e) announcing, or commencing the implementation of,
a major restructuring (see Ind AS 37);
(f) major ordinary share transactions and potential
ordinary share transactions after the reporting
period (Ind AS 33, Earnings per Share, requires an
entity to disclose a description of such transactions,
13
S. Paragr Disclosure Y N N
No aph e o A
Refere s
nce
other than when such transactions involve
capitalisation or bonus issues, share splits or
reverse share splits all of which are required to be
adjusted under Ind AS 33);
(g) abnormally large changes after the reporting period
in asset prices or foreign exchange rates;
(h) changes in tax rates or tax laws enacted or
announced after the reporting period that have a
significant effect on current and deferred tax assets
and liabilities (see Ind AS 12, Income Taxes);
(i) entering into significant commitments or contingent
liabilities, for example, by issuing significant
guarantees; and
(j) commencing major litigation arising solely out of
events that occurred after the reporting period.
5. 10.A16 Disclosure of the following information, if applicable:
(a) the carrying amount of the dividend payable at the
beginning and end of the period; and
(b) the increase or decrease in the carrying amount
recognised in the period in accordance with
paragraph 10.A13 of Appendix A as result of a
change in the fair value of the assets to be
distributed.
6. 10.A17 If, after the end of a reporting period but before the
financial statements are approved for issue, a dividend
is declared to distribute a non-cash asset, disclosure
of:
(a) the nature of the asset to be distributed;
(b) the carrying amount of the asset to be distributed
as of the end of the reporting period; and
(c) the fair value of the asset to be distributed as of the
end of the reporting period, if it is different from its
carrying amount, and the information about the
method(s) used to measure that fair value required
by paragraphs 113.93(b), 113.93.(d), 113.93.(g)
and 113.93.(i) and 113.99.
14
Ind AS 12, Income Taxes
S. Paragr Disclosure Y N N
No aph e o A
Refere s
nce
1. 12.79- Disclosures of following major components of tax
12.80 expense (income) separately:
(a) current tax expense (income);
(b) any adjustments recognised in the period for
current tax of prior periods;
(c) the amount of deferred tax expense (income)
relating to the origination and reversal of temporary
differences;
(d) the amount of deferred tax expense (income)
relating to changes in tax rates or the imposition of
new taxes;
(e) the amount of the benefit arising from a previously
unrecognised tax loss, tax credit or temporary
difference of a prior period that is used to reduce
current tax expense;
(f) the amount of the benefit from a previously
unrecognised tax loss, tax credit or temporary
difference of a prior period that is used to reduce
deferred tax expense;
(g) deferred tax expense arising from the write-down,
or reversal of a previous write-down, of a deferred
tax asset in accordance with paragraph 56 of this
Standard; and
(h) the amount of tax expense (income) relating to
those changes in accounting policies and errors
that are included in profit or loss in accordance with
Ind AS 8, Accounting Policies, Changes in
Accounting Estimates and Errors, because they
cannot be accounted for retrospectively.
2. 12.81 Separate disclosure of the following:
(a) the aggregate current and deferred tax relating to
items that are charged or credited directly to equity
(see paragraph 12.62A);
(b) the amount of income tax relating to each
15
S. Paragr Disclosure Y N N
No aph e o A
Refere s
nce
component of other comprehensive income
(paragraph 12.62 and Ind AS 1, Presentation of
Financial Statements);
(c) an explanation of the relationship between tax
expense (income) and accounting profit in either or
both of the following forms:
(i) a numerical reconciliation between tax expense
(income) and the product of accounting profit
multiplied by the applicable tax rate(s), disclosing
also the basis on which the applicable tax rate(s)
is (are) computed; or
(ii) a numerical reconciliation between the average
effective tax rate and the applicable tax rate,
disclosing also the basis on which the applicable
tax rate is computed;
(d) an explanation of changes in the applicable tax
rate(s) compared to the previous accounting
period;
(e) the amount (and expiry date, if any) of deductible
temporary differences, unused tax losses, and
unused tax credits for which no deferred tax asset
is recognised in the balance sheet;
(f) the aggregate amount of temporary differences
associated with investments in subsidiaries,
branches and associates and interests in joint
arrangements, for which deferred tax liabilities have
not been recognised (see paragraph 12.39);
(g) in respect of each type of temporary difference,
and in respect of each type of unused tax losses
and unused tax credits:
(i) the amount of the deferred tax assets and
liabilities recognised in the balance sheet for
each period presented;
(ii) the amount of the deferred tax income or
expense recognised in profit or loss, if this is not
apparent from the changes in the amounts
recognised in the balance sheet;
(h) in respect of discontinued operations, the tax
16
S. Paragr Disclosure Y N N
No aph e o A
Refere s
nce
expense relating to:
(i) the gain or loss on discontinuance; and
(ii) the profit or loss from the ordinary activities of
the discontinued operation for the period,
together with the corresponding amounts for
each prior period presented;
(i) the amount of income tax consequences of
dividends to shareholders of the entity that were
proposed or declared before the financial
statements were approved for issue, but are not
recognised as a liability in the financial statements;
(j) if a business combination in which the entity is the
acquirer causes a change in the amount
recognised for its pre-acquisition deferred tax asset
(paragraph 12.67), the amount of that change; and
(k) if the deferred tax benefits acquired in a business
combination are not recognised at the acquisition
date but are recognised after the acquisition date
(paragraph 12.68), a description of the event or
change in circumstances that caused the deferred
tax benefits to be recognised.
3. 12.82 Disclosure of the amount of a deferred tax asset and
the nature of the evidence supporting its recognition,
when:
(a) the utilisation of the deferred tax asset is
dependent on future taxable profits in excess of
the profits arising from the reversal of existing
taxable temporary differences; and
(b) the entity has suffered a loss in either the current
or preceding period in the tax jurisdiction to which
the deferred tax asset relates.
4. 12.82A When income taxes are payable at a higher or lower
rate if part or all of the net profit or retained earnings is
paid out as a dividend to shareholders or when income
taxes may be refundable or payable if part or all of the
net profit or retained earnings is paid out as a dividend
to shareholders, as per paragraph 12.52A disclosure
of the nature of the potential income tax
17
S. Paragr Disclosure Y N N
No aph e o A
Refere s
nce
consequences that would result from the payment of
dividends to its shareholders.
In addition, disclosures of the amounts of the potential
income tax consequences practicably determinable
and whether there are any potential income tax
consequences not practicably determinable.
5. 12.87 It would often be impracticable to compute the amount
of unrecognised deferred tax liabilities arising from
investments in subsidiaries, branches and associates
and interests in joint arrangements (paragraph 12.39).
Therefore, this Standard requires disclosures of the
aggregate amount of the underlying temporary
differences but does not require disclosure of the
deferred tax liabilities. Nevertheless, where
practicable, entities are encouraged to disclose the
amounts of the unrecognised deferred tax liabilities
because financial statements users may find such
information useful.
6. 12.98H Amendment in paragraph 12.29 is required to be
applied retrospectively in accordance with Ind AS 8,
Accounting Policies, Changes in Accounting Estimates
and Errors. However, change in the opening equity of
the earliest comparative period may be recognised in
opening retained earnings (or in another component of
equity, as appropriate), without allocating the change
between opening retained earnings and other
components of equity. If this relief applies, disclosure
of that fact.
18
Ind AS 16, Property, Plant and Equipment
S.N Parag Disclosure Ye N N
o raph s o A
Refer
ence
1. 16.73 For each class of Property Plant and Equipment,
disclosures of following:
(a) the measurement bases used for determining the
gross carrying amount;
(b) the depreciation methods used;
(c) the useful lives or the depreciation rates used;
(d) the gross carrying amount and the accumulated
depreciation (aggregated with accumulated
impairment losses) at the beginning and end of the
period; and
(e) a reconciliation of the carrying amount at the
beginning and end of the period showing:
(i) additions;
(ii) assets classified as held for sale or included in a
disposal group classified as held for sale in
accordance with Ind AS 105 and other
disposals;
(iii) acquisitions through business combinations;
(iv) increases or decreases resulting from
revaluations under paragraphs 16.31, 16.39 and
16.40 and from impairment losses recognised
or reversed in other comprehensive income in
accordance with Ind AS 36, Impairment of
Assets;
(v) impairment losses recognised in profit or loss in
accordance with Ind AS 36, Impairment of
Assets;
(vi) impairment losses reversed in profit or loss in
accordance with Ind AS 36, Impairment of
Assets;
(vii) depreciation;
(viii) the net exchange differences arising on the
translation of the financial statements from the
functional currency into a different presentation
currency, including the translation of a foreign
operation into the presentation currency of the
19
S.N Parag Disclosure Ye N N
o raph s o A
Refer
ence
reporting entity; and
(ix) other changes.
2. 16.74 Disclosures of the following:
(a) the existence and amounts of restrictions on title,
and property, plant and equipment pledged as
security for liabilities;
(b) the amount of expenditures recognised in the
carrying amount of an item of property, plant and
equipment in the course of its construction;
(c) the amount of contractual commitments for the
acquisition of property, plant and equipment; and
(d) if it is not disclosed separately in the statement of
profit and loss, the amount of compensation from
third parties for items of property, plant and
equipment that were impaired, lost or given up that
is included in profit or loss.
3. 16.76 In case there is a change in an accounting estimate in
accordance with Ind AS 8, Accounting Policies,
Changes in Accounting Estimates and Errors, that has
an effect in the current period or is expected to have
an effect in subsequent periods, disclosure with
respect to:
(a) residual values;
(b) the estimated costs of dismantling, removing or
restoring items of property, plant and equipment;
(c) useful lives; and
(d) depreciation methods.
4. 16.77 If items of property, plant and equipment are stated at
revalued amounts, the following shall be disclosed in
addition to the disclosures required by Ind AS 113,
Fair Value Measurements:
(a) the effective date of the revaluation;
(b) whether an independent valuer was involved;
(c) for each revalued class of property, plant and
equipment, the carrying amount that would have
been recognised had the assets been carried
under the cost model; and
(d) the revaluation surplus, indicating the change for
20
S.N Parag Disclosure Ye N N
o raph s o A
Refer
ence
the period and any restrictions on the distribution
of the balance to shareholders.
5. 16.79 Optional disclosures of:
(a) the carrying amount of temporarily idle property,
plant and equipment;
(b) the gross carrying amount of any fully depreciated
property, plant and equipment that is still in use;
(c) the carrying amount of property, plant and
equipment retired from active use and not classified
as held for sale in accordance with Ind AS 105,
Non-current Assets Held for Sale and Discontinued
Operations; and
(d) when the cost model is used, the fair value of
property, plant and equipment when this is
materially different from the carrying amount.
21
Ind AS 17, Leases
In addition to meeting the requirements of Ind AS 107, Financial Instruments:
Disclosures, the disclosures are required of the following under this standard.
Also, the requirements for disclosure in accordance with Ind AS 16, Ind AS 36,
Ind AS 38, Ind AS 40 and Ind AS 41 apply to lessees for assets leased under
finance leases (see paragraph 17.32).
S. Paragr Disclosure Ye N N
No aph s o A
Refere
nce
Leases in the financial statements of lessees
1. 17.31 For finance leases, disclosures of the following:
(a) for each class of asset, the net carrying amount at
the end of the reporting period.
(b) a reconciliation between the total of future
minimum lease payments at the end of the
reporting period, and their present value. In
addition, an entity shall disclose the total of future
minimum lease payments at the end of the
reporting period, and their present value, for each
of the following periods:
(i) not later than one year;
(ii) later than one year and not later than five years;
(iii) later than five years.
(c) contingent rents recognised as an expense in the
period.
(d) the total of future minimum sublease payments
expected to be received under non-cancellable
subleases at the end of the reporting period.
(e) a general description of the lessee's material
leasing arrangements including, but not limited to,
the following:
(i) the basis on which contingent rent payable is
determined;
(ii) the existence and terms of renewal or purchase
options and escalation clauses; and
(iii) restrictions imposed by lease arrangements,
such as those concerning dividends, additional
debt, and further leasing.
2. 17.35 For operating leases, disclosures of the following:
22
S. Paragr Disclosure Ye N N
No aph s o A
Refere
nce
(a) the total of future minimum lease payments under
non-cancellable operating leases for each of the
following periods:
(i) not later than one year;
(ii) later than one year and not later than five years;
(iii) later than five years.
(b) the total of future minimum sublease payments
expected to be received under non-cancellable
subleases at the end of the reporting period.
(c) lease and sublease payments recognised as an
expense in the period, with separate amounts for
minimum lease payments, contingent rents, and
sublease payments.
(d) a general description of the lessee's significant
leasing arrangements including, but not limited to,
the following:
(i) the basis on which contingent rent payable is
determined;
(ii) the existence and terms of renewal or purchase
options and escalation clauses; and
(iii) restrictions imposed by lease arrangements,
such as those concerning dividends, additional
debt and further leasing.
Leases in the financial statements of lessors
3. 17.47 For finance leases, disclosures of the following:
(a) a reconciliation between the gross investment in
the lease at the end of the reporting period, and the
present value of minimum lease payments
receivable at the end of the reporting period. In
addition, an entity shall disclose the gross
investment in the lease and the present value of
minimum lease payments receivable at the end of
the reporting period, for each of the following
periods:
(i) not later than one year;
(ii) later than one year and not later than five years;
(iii) later than five years.
(b) unearned finance income.
23
S. Paragr Disclosure Ye N N
No aph s o A
Refere
nce
(c) the unguaranteed residual values accruing to the
benefit of the lessor.
(d) the accumulated allowance for uncollectible
minimum lease payments receivable.
(e) contingent rents recognised as income in the
period.
(f) a general description of the lessor's material leasing
arrangements.
4. 17.56 For operating leases, disclosures of the following:
(a) the future minimum lease payments under non-
cancellable operating leases in the aggregate and
for each of the following periods:
(i) not later than one year;
(ii) later than one year and not later than five years;
(iii) later than five years.
(b) total contingent rents recognised as income in the
period.
(c) a general description of the lessor's leasing
arrangements.
5. 17.65 Disclosure requirements for lessees and lessors apply
equally to sale and leaseback transactions. The
required description of material leasing arrangements
leads to disclosure of unique or unusual provisions of
the agreement or terms of the sale and leaseback
transactions.
6. 17.66 Sale and leaseback transactions may trigger the
separate disclosure criteria in Ind AS 1, Presentation
of Financial Statements.
7. 17.B10 All aspects of an arrangement that does not, in
substance, involve a lease under Ind AS 17 shall be
considered in determining the appropriate disclosures
that are necessary to understand the arrangement and
the accounting treatment adopted. Disclosure of the
following in each period that an arrangement exists:
(a) a description of the arrangement including:
(i) the underlying asset and any restrictions on its
use;
(ii) the life and other significant terms of the
24
S. Paragr Disclosure Ye N N
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Refere
nce
arrangement;
(iii) the transactions that are linked together,
including any options; and
(b) the accounting treatment applied to any fee
received, the amount recognised as income in the
period, and the line item of the statement of profit
and loss in which it is included.
8. 17.B11 The disclosures required in accordance with
paragraph 17.B10 shall be provided individually for
each arrangement or in aggregate for each class of
arrangement. A class is a grouping of arrangements
with underlying assets of a similar nature (eg power
plants).
25
Ind AS 19, Employee Benefits
S.N Paragr Disclosure Ye N N
o aph s o A
Refere
nce
1. 19.25 Disclosure about short-term employee benefits for
key management personnel in accordance with Ind
AS 24, Related Party Disclosures, and disclosure of
short-term employee benefits expense in accordance
with Ind AS 1, Presentation of Financial Statements.
2. 19.53 Disclosure of the amount recognised as an expense
for defined contribution plans.
3. 19.54 Where required by Ind AS 24, disclosure of
information about contributions to defined
contribution plans for key management personnel.
4. 19.135 Disclosure of information that:
(a) explains the characteristics of its defined benefit
plans and risks associated with them (paragraph
139 of this Standard);
(b) identifies and explains the amounts in its financial
statements arising from its defined benefit plans
(paragraphs 19.14019.144 this Standard); and
(c) describes how its defined benefit plans may affect
the amount, timing and uncertainty of the entity's
future cash flows (paragraphs 19.14519.147).
5. 19.136 While giving disclosures under 19.135, whether the
following have been considered:
(a) the level of detail necessary to satisfy the
disclosure requirements;
(b) how much emphasis to place on each of the
various requirements;
(c) how much aggregation or disaggregation to
undertake; and
(d) whether users of financial statements need
additional information to evaluate the quantitative
information disclosed.
6. 19.137 If the disclosures provided in accordance with the
requirements in this Standard and other Ind ASs are
insufficient to meet the objectives under 19.135,
disclosure of additional information necessary to
26
S.N Paragr Disclosure Ye N N
o aph s o A
Refere
nce
meet those objectives be given.
For example, an entity may present an analysis of the
present value of the defined benefit obligation that
distinguishes the nature, characteristics and risks of
the obligation. Such a disclosure could distinguish:
(a) between amounts owing to active members,
deferred members, and pensioners.
(b) between vested benefits and accrued but not
vested benefits.
(c) between conditional benefits, amounts attributable
to future salary increases and other benefits.
7. 19.138 Have assessment been made as to whether all or
some disclosures should be disaggregated to
distinguish plans or groups of plans with materially
different risks.
For example, an entity may disaggregate disclosure
about plans showing one or more of the following
features:
(a) different geographical locations.
(b) different characteristics such as flat salary
pension plans, final salary pension plans or
postemployment medical plans.
(c) different regulatory environments.
(d) different reporting segments.
(e) different funding arrangements (eg wholly
unfunded, wholly or partly funded).
8. 19.139 Disclosure of:
(a) information about the characteristics of its defined
benefit plans, including:
(i) the nature of the benefits provided by the plan
(eg final salary defined benefit plan or
contribution-based plan with guarantee).
(ii) a description of the regulatory framework in
which the plan operates, for example the level
of any minimum funding requirements, and any
effect of the regulatory framework on the plan,
27
S.N Paragr Disclosure Ye N N
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nce
such as the asset ceiling (see paragraph 19.64).
(iii) a description of any other entity's
responsibilities for the governance of the plan,
for example responsibilities of trustees or of
board members of the plan.
(b) a description of the risks to which the plan
exposes the entity, focused on any unusual,
entity specific or plan-specific risks, and of any
significant concentrations of risk. For example, if
plan assets are invested primarily in one class of
investments, eg property, the plan may expose
the entity to a concentration of property market
risk.
(c) a description of any plan amendments,
curtailments and settlements.
9. 19.140 An entity shall provide a reconciliation from the
opening balance to the closing balance for each of
the following, if applicable:
(a) the net defined benefit liability (asset), showing
separate reconciliations for:
(i) plan assets.
(ii) the present value of the defined benefit
obligation.
(iii) the effect of the asset ceiling.
(b) any reimbursement rights. An entity shall also
describe the relationship between any
reimbursement right and the related obligation.
10. 19.141 Each reconciliation listed in paragraph 140 shall
show each of the following, if applicable:
(a) current service cost.
(b) interest income or expense.
(c) remeasurements of the net defined benefit
liability (asset), showing separately:
(i) the return on plan assets, excluding
amounts included in interest in (b).
(ii) actuarial gains and losses arising from
changes in demographic assumptions (see
paragraph 19.76(a)).
28
S.N Paragr Disclosure Ye N N
o aph s o A
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nce
(iii) actuarial gains and losses arising from
changes in financial assumptions (see
paragraph 19.76(b)).
(iv) changes in the effect of limiting a net
defined benefit asset to the asset ceiling,
excluding amounts included in interest in
(b). An entity shall also disclose how it
determined the maximum economic benefit
available, ie whether those benefits would
be in the form of refunds, reductions in
future contributions or a combination of
both.
(d) past service cost and gains and losses arising
from settlements. As permitted by paragraph
19.100, past service cost and gains and losses
arising from settlements need not be
distinguished if they occur together.
(e) the effect of changes in foreign exchange rates.
(f) contributions to the plan, showing separately
those by the employer and by plan participants
(g) payments from the plan, showing separately the
amount paid in respect of any settlements.
(h) the effects of business combinations and
disposals
11. 19.143 Disclosure of the fair value of the entity's own
transferable financial instruments held as plan
assets, and the fair value of plan assets that are
property occupied by, or other assets used by, the
entity.
12. 19.144 Disclosure of the significant actuarial assumptions
used to determine the present value of the defined
benefit obligation (paragraph 19.76).
Such disclosure shall be in absolute terms (eg as an
absolute percentage, and not just as a margin
between different percentages and other variables).
In case disclosures are provided in total for a
grouping of plans, such disclosures be provided in
the form of weighted averages or relatively narrow
29
S.N Paragr Disclosure Ye N N
o aph s o A
Refere
nce
ranges.
13. 19.145 Disclosure of:
(a) a sensitivity analysis for each significant actuarial
assumption (as disclosed under paragraph
19.144) as of the end of the reporting period,
showing how the defined benefit obligation would
have been affected by changes in the relevant
actuarial assumption that were reasonably
possible at that date.
(b) the methods and assumptions used in preparing
the sensitivity analyses required by (a) and the
limitations of those methods.
(c) changes from the previous period in the methods
and assumptions used in preparing the sensitivity
analyses, and the reasons for such changes.
14. 19.146 Disclosure of a description of any asset-liability (d) (e) (f)
matching strategies used by the plan or the entity,
including the use of annuities and other techniques,
such as longevity swaps, to manage risk.
15. 19.147 To provide an indication of the effect of the defined
benefit plan on the entity's future cash flows,
disclosure of:
(a) a description of any funding arrangements and
funding policy that affect future contributions.
(b) the expected contributions to the plan for the next
annual reporting period.
(c) information about the maturity profile of the
defined benefit obligation. This will include the
weighted average duration of the defined benefit
obligation and may include other information
about the distribution of the timing of benefit
payments, such as a maturity analysis of the
benefit payments.
16. 19.148 If an entity participates in a multi-employer defined
benefit plan, disclosure of:
(a) a description of the funding arrangements,
including the method used to determine the
entity's rate of contributions and any minimum
30
S.N Paragr Disclosure Ye N N
o aph s o A
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nce
funding requirements.
(b) a description of the extent to which the entity can
be liable to the plan for other entities' obligations
under the terms and conditions of the multi-
employer plan.
(c) a description of any agreed allocation of a deficit
or surplus on:
(i) wind-up of the plan; or
(ii) the entity's withdrawal from the plan.
(d) if the entity accounts for that plan as if it were a
defined contribution plan in accordance with
paragraph 34, it shall disclose the following, in
addition to the information required by (a)(c) and
instead of the information required by paragraphs
19.13919.147:
(i) the fact that the plan is a defined benefit plan.
(ii) the reason why sufficient information is not
available to enable the entity to account for
the plan as a defined benefit plan.
(iii) the expected contributions to the plan for the
next annual reporting period.
(iv) information about any deficit or surplus in the
plan that may affect the amount of future
contributions, including the basis used to
determine that deficit or surplus and the
implications, if any, for the entity.
(v) an indication of the level of participation of the
entity in the plan compared with other
participating entities. Examples of measures
that might provide such an indication include
the entity's proportion of the total contributions
to the plan or the entity's proportion of the
total number of active members, retired
members, and former members entitled to
benefits, if that information is available.
17. 19.149 If an entity participates in a defined benefit plan that
shares risks between entities under common control,
disclosure of:
31
S.N Paragr Disclosure Ye N N
o aph s o A
Refere
nce
(a) the contractual agreement or stated policy for
charging the net defined benefit cost or the fact
that there is no such policy.
(b) the policy for determining the contribution to be
paid by the entity.
(c) if the entity accounts for an allocation of the net
defined benefit cost as noted in paragraph 19.41,
all the information about the plan as a whole
required by paragraphs 19.13519.147.
(d) if the entity accounts for the contribution payable
for the period as noted in paragraph 19.41, the
information about the plan as a whole required by
paragraphs 19.13519.137, 19.139, 19.142
19.144 and 19.147(a) and (b).
18. 19.151 Where required by Ind AS 24, disclosures of
information about:
(a) related party transactions with post-employment
benefit plans; and
(b) post-employment benefits for key management
personnel.
19. 19.152 Where required by Ind AS 37 disclosures of
information about contingent liabilities arising from
post-employment benefit obligations.
20. 19.158 Disclosure about other long-term employee benefits
for key management personnel in accordance with
Ind AS 24, Related Party Disclosures, and disclosure
of other long-term employee benefits expense in
accordance with Ind AS 1, Presentation of Financial
Statements.
21. 19.171 Disclosure about termination benefits for key
management personnel in accordance with Ind AS
24, Related Party Disclosures, and disclosure of
termination benefits expense in accordance with Ind
AS 1, Presentation of Financial Statements.
32
Ind AS 20, Accounting for Government Grants and
Disclosure of Government Assistance
S.N Parag Disclosure Ye N N
o raph s o A
Refer
ence
1. 20.39 Disclosure of:
(a) the accounting policy adopted for government
grants, including the methods of presentation
adopted in the financial statements;
(b) the nature and extent of government grants
recognised in the financial statements and an
indication of other forms of government assistance
from which the entity has directly benefited; and
(c) unfulfilled conditions and other contingencies
attaching to government assistance that has been
recognised.
33
Ind AS 21, The Effects of Changes in Foreign Exchange
Rates
S.N Parag Disclosure Ye N N
o raph s o A
Refer
ence
1. 21.52 Disclosure of:
a) Exchange differences recognised in profit or
loss, except for those arising on financial
instruments accounted in accordance with Ind
AS 109, and
b) Net exchange differences recognised in other
comprehensive
c) income and accumulated in a separate
component of equity, and a reconciliation of
such exchange differences at the beginning and
end of the period.
2. 21.53 In case presentation currency is different from the
functional currency, state that fact together with
disclosure of the functional currency and the reason
for using a different presentation currency.
3. 21.54 Disclosure of change in the functional currency of
either the reporting entity or a significant foreign
operation, together with the reason for the change in
functional currency and the date of change in
functional currency.
4. 21.55 In case financial statements are presented in a
currency that is different from its functional currency,
description that the financial statements as complying
with Ind ASs only if they comply with all the
requirements of each applicable Standard including
the translation method set out in paragraphs 21.39
and 21.42.
5. 21.57 In case financial statements or other financial
information are presented in a currency that is different
from either its functional currency or its presentation
currency and the requirements of paragraph 21.55 is
not met, whether:
a) the information has been clearly identified as
supplementary information to distinguish it from
the information that complies with Ind ASs,
34
S.N Parag Disclosure Ye N N
o raph s o A
Refer
ence
b) disclosed the currency in which the supplementary
information is displayed, and
c) disclosed the entity's functional currency and the
method of translation used to determine the
supplementary information?
35
Ind AS 23, Borrowing Costs
S.N Parag Disclosure Ye N N
o raph s o A
Refer
ence
1. 23.26 Disclosure of:
(a) the amount of borrowing costs capitalised during
the period; and
(b) the capitalisation rate used to determine the
amount of borrowing costs eligible for
capitalisation.
36
Ind AS 24, Related Party Disclosures
S.N Paragr Disclosure Ye N N
o aph s o A
Refere
nce
1. 24.13 Disclosure of the relationship between parent and its
subsidiaries irrespective of whether there have been
transactions between them.
2. 24.13 Disclosure of the name of parent and, if different, the
ultimate controlling party.
3. 24.13 Disclosures of next most senior parent if neither
parent nor ultimate controlling party produces
consolidated financial statements available for public
use.
4. 24.14 Disclosure of relationships, name of the related party
and nature of the related party relationship, when
control exists, irrespective of whether there have
been transactions between the related parties
5. 24.17 Disclosure of key management personnel
compensation in total for each of following
categories:
a) Short-term employee benefits,
b) Post-employment benefits,
c) Other long-term benefits,
d) Termination benefits, and
e) Share based payment
6. 24.17A In case key management personnel services are
obtained from a `management entity', the
requirements of paragraph 24.17 is not required to
apply to compensation paid or payable by the
management entity to its employees or directors.
7. 24.18 - In case there has been related party transactions
24.18A during the periods covered by the financial
statements, disclosure of information about the
transactions and outstanding balances, including
commitments, necessary for an understanding of the
potential effect of the relationship on the financial
statements, including the following at a minimum:
(a) Nature of related party relationship,
(b) Amount of transactions,
37
S.N Paragr Disclosure Ye N N
o aph s o A
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nce
(c) Amount of outstanding balances (including
commitments), and:
(i) their terms and conditions, including whether
they are secured, and nature of the
consideration to be provided in settlement,
(ii) Details of any guarantees given or received,
(d) Provisions for doubtful debts related to
outstanding balances,
(e) Expense recognised in respect of bad or doubtful
debts due from related parties, and
(f) Amounts incurred for provision of key
management personnel services that are provided
by a separate entity.
8. 24.19 Disclosure is required under paragraph 24.18
separately for all categories of related parties,
including:
(a) The parent,
(b) Entities with joint control or significant influence
over the entity,
(c) Subsidiaries,
(d) Associates,
(e) Joint ventures in which entity is a joint venturer,
(f) Key management personnel of the entity or its
parent, and
(g) Other related parties.
9. 24.21 Examples of transactions required to be disclosed
with related parties:
(a) Purchases or sales of goods (finished or
unfinished),
(b) Purchases or sales of property and other
assets,
(c) Rendering or receiving of services,
(d) Leases,
(e) Transfers of research and development,
(f) Transfers under license agreements,
(g) Transfers under finance arrangements
(including loans and equity contributions in cash
or in kind),
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nce
(h) Provision of guarantees or collateral,
(i) Commitments to do something if a particular
event occurs or does not occur in the future,
including executory contracts (recognised and
unrecognised),
(j) Settlement of liabilities on behalf of the entity or
by the entity on behalf of that related party, and
(k) Management contracts including for deputation
of employees.
10. 24.22 If there is a participation by a parent or subsidiary in a
defined benefit plan that shares risks between group
entities, has this been disclosed as a related party
transaction.
11. 24.23 Disclosure that related party transactions were made
on terms equivalent to those that prevail in an arm's
length transactions provided that such terms can be
substantiated.
12. 24.24- Disclosure in aggregate items of similar nature,
24.24A except when separate disclosure is necessary for an
understanding of the effects of related party
transactions on the financial statements of the entity?
(Note: Disclosure of details of particular
transactions with individual related parties would
frequently be too voluminous to be easily
understood. Accordingly, items of a similar nature
may be disclosed in aggregate by type of related
party. However, this is not done in such a way as to
obscure the importance of significant transactions.
Hence, purchases or sales of goods are not
aggregated with purchases or sales of fixed assets.
Nor a material related party transaction with an
individual party is clubbed in an aggregated
disclosure.)
13. 24.25 A reporting entity is exempt from the disclosure
requirements of paragraph 24.18 in relation to related
party transactions and outstanding balances,
including commitments, with:
(a) A government that has control or joint control of,
or significant influence over the reporting entity,
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nce
and
(b) Another entity that is a related party because the
same government has control or joint control of,
or significant influence over both the reporting
entity and the other entity?
14. 24.26 In case exemption available in paragraph 24.25 is
availed disclosures of following:
(a) The name of the government and the nature of
its relationship with the reporting entity (i.e.
control, joint control or significant influence),
(b) The nature and amount of each individually
significant transaction, and
(c) For other transactions that are collectively, but
not individually, significant, a qualitative or
quantitative indication of their extent? (types of
transactions include those listed in paragraph
24.21)
40
Ind AS 27, Separate Financial Statements
S.N Parag Disclosure Ye N N
o raph s o A
Refer
ence
1. 27.15 For providing disclosures in separate financial
statements, all applicable Ind ASs shall be applied
including requirements in paragraphs 27.16 and 27.17.
2. 27.16 When a parent, in accordance with paragraph 110
.4(a), elects not to prepare consolidated financial
statements and instead prepares separate financial
statements, disclosure in those separate financial
statements:
(a) the fact that the financial statements are separate
financial statements; that the exemption from
consolidation has been used; the name and
principal place of business (and country of
incorporation, if different) of the entity whose
consolidated financial statements that comply with
Ind ASs have been produced for public use; and
the address where those consolidated financial
statements are obtainable.
(b) a list of significant investments in subsidiaries, joint
ventures and associates, including:
(i) the name of those investees.
(ii) the principal place of business (and country of
incorporation, if different) of those investees.
(iii) its proportion of the ownership interest (and its
proportion of the voting rights, if different) held
in those investees.
(c) a description of the method used to account for the
investments listed under (b).
3. 24.16 In case investment entity that is a parent prepares, in
A accordance with paragraph 24.8A, separate financial
statements as its only financial statements, disclosure
of that fact.
Also disclosures relating to investment entities
required by Ind AS 112, Disclosure of Interests in
Other Entities.
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Refer
ence
4. 24.17 In case a parent (other than a parent covered by
paragraphs 24.16-24.16A) or an investor with joint
control of, or significant influence over, an investee
prepares separate financial statements, disclosure that
the parent or investor:
(i) identify the financial statements prepared in
accordance with Ind AS 110, Ind AS 111 or Ind AS
28 to which they relate.
(ii) in its separate financial statements disclosed:
(a) the fact that the statements are separate
financial statements
(b) a list of significant investments in subsidiaries,
joint ventures and associates, including:
(i) the name of those investees.
(ii) the principal place of business (and country
of incorporation, if different) of those
investees.
(iii) its proportion of the ownership interest (and
its proportion of the voting rights, if
different) held in those investees.
(c) a description of the method used to account for
the investments listed under (b).
42
Ind AS 29, Financial Reporting in Hyperinflationary
Economies
S.N Parag Disclosure Ye N N
o raph s o A
Refer
ence
1. 29.9 Separate disclosure of gain or loss on the net
monetary position included in profit or loss.
2. 29.39 Disclosures shall be made of the following:
(a) the fact that the financial statements and the
corresponding figures for previous periods have
been restated for the changes in the general
purchasing power of the functional currency and,
as a result, are stated in terms of the measuring
unit current at the end of the reporting period;
(b) whether the financial statements are based on a
historical cost approach or a current cost approach;
(c) the identity and level of the price index at the end
of the reporting period and the movement in the
index during the current and the previous reporting
period.
(d) the duration of the hyperinflationary situation
existing in the economy.
3. 29.40 Disclosures required by this Standard are needed to
make clear the basis of dealing with the effects of
inflation in the financial statements. They are also
intended to provide other information necessary to
understand that basis and the resulting amounts.
43
Ind AS 33, Earning per Share
S.N Parag Disclosure Ye N N
o raph s o A
Refer
ence
1. 33.70 Disclosure of the following:
(a) the amounts used as the numerators in calculating
basic and diluted earnings per share, and a
reconciliation of those amounts to profit or loss
attributable to the parent entity for the period. The
reconciliation shall include the individual effect of
each class of instruments that affects earnings per
share.
(b) the weighted average number of ordinary shares
used as the denominator in calculating basic and
diluted earnings per share, and a reconciliation of
these denominators to each other. The
reconciliation shall include the individual effect of
each class of instruments that affects earnings per
share.
(c) instruments (including contingently issuable
shares) that could potentially dilute basic earnings
per share in the future, but were not included in
the calculation of diluted earnings per share
because they are antidilutive for the period(s)
presented.
(d) a description of ordinary share transactions or
potential ordinary share transactions, other than
those accounted for in accordance with paragraph
64, that occur after the reporting period and that
would have changed significantly the number of
ordinary shares or potential ordinary shares
outstanding at the end of the period if those
transactions had occurred before the end of the
reporting period.
2. 33.71 Examples of transactions in paragraph 34.70(d)
include:
(a) an issue of shares for cash;
(b) an issue of shares when the proceeds are used to
repay debt or preference shares outstanding at
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ence
the end of the reporting period;
(c) the redemption of ordinary shares outstanding;
(d) the conversion or exercise of potential ordinary
shares outstanding at the end of the reporting
period into ordinary shares;
(e) an issue of options, warrants, or convertible
instruments; and
(f) the achievement of conditions that would result in
the issue of contingently issuable shares.
Earnings per share amounts are not adjusted for
such transactions occurring after the reporting
period because such transactions do not affect
the amount of capital used to produce profit or
loss for the period.
3. 33.73 Disclosure of, in addition to basic and diluted earnings
per share, amounts per share using a reported
component of the statement of profit and loss other
than one required by this Standard.
Note: Such amounts shall be calculated using the
weighted average number of ordinary shares
determined in accordance with this Standard. Basic
and diluted amounts per share relating to such a
component shall be disclosed with equal prominence
and presented in the notes. An entity shall indicate the
basis on which the numerator(s) is (are) determined,
including whether amounts per share are before tax or
after tax. If a component of the statement of profit and
loss is used that is not reported as a line item in the
statement of profit and loss, a reconciliation shall be
provided between the component used and a line item
that is reported in the statement of profit and loss
45
Ind AS 34, Interim Financial Reporting
S.N Paragr Disclosure Ye N N
o aph s o A
Refere
nce
1. 34.15 An explanation of events and transactions that are
significant to an understanding of the changes in
financial position and performance of the entity since
the end of the last annual reporting period.
Information disclosed in relation to those events and
transactions shall update the relevant information
presented in the most recent annual financial report.
2. 34.15B List (not exhaustive) of events and transactions for
which disclosures would be required if they are
significant:
(a) the write-down of inventories to net realisable
value and the reversal of such a write down;
(b) recognition of a loss from the impairment of
financial assets, property, plant and equipment,
intangible assets, assets arising from contracts
with customers, or other assets, and the
reversal of such an impairment loss;
(c) the reversal of any provisions for the costs of
restructuring;
(d) acquisitions and disposals of items of property,
plant and equipment;
(e) commitments for the purchase of property, plant
and equipment;
(f) litigation settlements;
(g) corrections of prior period errors;
(h) changes in the business or economic
circumstances that affect the fair value of the
entity's financial assets and financial liabilities,
whether those assets or liabilities are
recognised at fair value or amortised cost;
(i) any loan default or breach of a loan agreement
that has not been remedied on or before the
end of the reporting period;
(j) related party transactions;
(k) transfers between levels of the fair value
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nce
hierarchy used in measuring the fair value of
financial instruments;
(l) changes in the classification of financial assets as
a result of a change in the purpose or use of
those assets; and
(m) changes in contingent liabilities or contingent
assets.
3. 34.16A Following disclosures either in the interim financial
statements or incorporated by cross-reference from
the interim financial statements to some other
statement (such as management commentary or risk
report) that is available to users of the financial
statements on the same terms as the interim financial
statements and at the same time. If users of the
financial statements do not have access to the
information incorporated by cross reference on the
same terms and at the same time, the interim
financial report is incomplete. The information shall
normally be reported on a financial year-to-date
basis:
(a) a statement that the same accounting policies
and methods of computation are followed in the
interim financial statements as compared with
the most recent annual financial statements or,
if those policies or methods have been
changed, a description of the nature and effect
of the change.
(b) explanatory comments about the seasonality or
cyclicality of interim operations.
(c) the nature and amount of items affecting assets,
liabilities, equity, net income or cash flows that
are unusual because of their nature, size or
incidence.
(d) the nature and amount of changes in estimates
of amounts reported in prior interim periods of
the current financial year or changes in
estimates of amounts reported in prior financial
years.
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nce
(e) issues, repurchases and repayments of debt and
equity securities.
(f) dividends paid (aggregate or per share)
separately for ordinary shares and other shares.
(g) the following segment information (disclosure of
segment information is required in an entity's
interim financial report only if Ind AS 108,
Operating Segments, requires that entity to
disclose segment information in its annual
financial statements):
(i) revenues from external customers, if included
in the measure of segment profit or loss
reviewed by the chief operating decision
maker or otherwise regularly provided to the
chief operating decision maker.
(ii) intersegment revenues, if included in the
measure of segment profit or loss reviewed
by the chief operating decision maker or
otherwise regularly provided to the chief
operating decision maker.
(iii) a measure of segment profit or loss.
(iv) a measure of total assets and liabilities for a
particular reportable segment if such
amounts are regularly provided to the chief
operating decision maker and if there has
been a material change from the amount
disclosed in the last annual financial
statements for that reportable segment.
(v) a description of differences from the last
annual financial statements in the basis of
segmentation or in the basis of
measurement of segment profit or loss.
(vi) a reconciliation of the total of the reportable
segments' measures of profit or loss to the
entity's profit or loss before tax expense (tax
income) and discontinued operations.
However, if an entity allocates to reportable
segments items such as tax expense (tax
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nce
income), the entity may reconcile the total of
the segments' measures of profit or loss to
profit or loss after those items. Material
reconciling items shall be separately
identified and described in that
reconciliation.
(h) events after the interim period that have not
been reflected in the financial statements for the
interim period.
(i) the effect of changes in the composition of the
entity during the interim period, including
business combinations, obtaining or losing
control of subsidiaries and long-term
investments, restructurings, and discontinued
operations. In the case of business
combinations, the entity shall disclose the
information required by Ind AS 103, Business
Combinations.
(j) for financial instruments, the disclosures about
fair value required by paragraphs 113.91
113.93(h), 113.94113.96, 113.98 and 113.99
and paragraphs 107.25, 107.26 and 107.28
107.30.
(k) for entities becoming, or ceasing to be,
investment entities, as defined in Ind AS 110,
Consolidated Financial Statements, the
disclosures in paragraph 112.9B.
(l) the disaggregation of revenue from contracts with
customers required by paragraph 115.114-
115.115,
4. 34.19 If an entity's interim financial report is in compliance
with this Standard, that fact shall be disclosed. An
interim financial report shall not be described as
complying with Ind ASs unless it complies with all of
the requirements of Ind ASs.
5. 34.26 If an estimate of an amount reported in an interim
period is changed significantly during the final interim
period of the financial year but a separate financial
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nce
report is not published for that final interim period,
disclosure of the nature and amount of that change in
estimate in a note to the annual financial statements
for that financial year.
6. 34.43 A change in accounting policy, other than one for
which the transition is specified by a new Ind AS,
shall be reflected by:
(a) restating the financial statements of prior interim
periods of the current financial year and the
comparable interim periods of any prior financial
years that will be restated in the annual financial
statements in accordance with Ind AS 8; or
(b) when it is impracticable to determine the
cumulative effect at the beginning of the
financial year of applying a new accounting
policy to all prior periods, adjusting the financial
statements of prior interim periods of the current
financial year, and comparable interim periods
of prior financial years to apply the new
accounting policy prospectively from the earliest
date practicable.
50
Ind AS 36, Impairment of Assets
S.N Paragr Disclosure Ye N N
o aph s o A
Refere
nce
1. 36.126 Disclosure of the following for each class of assets:
- (a) The amount of impairment losses recognised in
36.128 profit or loss during the period and the line
item(s) of the statement of profit and loss in
which those impairment losses are included,
(b) The amount of reversals of impairment losses
recognised in profit or loss during the period and
the line item(s) of the statement of profit and loss
in which those impairment losses are reversed,
(c) The amount of impairment losses on revalued
assets recognised in other comprehensive
income during the period, if any, and
(d) The amount of reversals of impairment losses on
revalued assets recognised in other
comprehensive income during the period, if any.
(The information required in paragraph 36.126 may
be presented with other information disclosed for the
class of assets. A class of assets is a grouping of
assets of similar nature and use in an entity's
operations. For example, this information may be
included in a reconciliation of the carrying amount of
property, plant and equipment, at the beginning and
end of the period, as required by Ind AS 16.)
2. 36.129 In case segment information is reported in
accordance with Ind AS 108, disclosure of the
following for each reportable segment:
(a) The amount of impairment losses recognised in
profit or loss and in other comprehensive income
during the period, and
(b) The amount of reversals of impairment losses
recognised in profit or loss and in other
comprehensive income during the period.
3. 36.130 In case an impairment loss is recognised/reversed
during the period for an individual asset or CGU,
disclosure of the following:
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nce
(a) the events and circumstances that led to the
recognition or reversal of the impairment loss.
(b) the amount of the impairment loss recognised or
reversed.
(c) for an individual asset:
(i) the nature of the asset; and
(ii) if the entity reports segment information in
accordance with Ind AS 108, the reportable
segment to which the asset belongs.
(d) for a cash-generating unit:
(i) a description of the cash-generating unit (such
as whether it is a product line, a plant, a
business operation, a geographical area, or a
reportable segment as defined in Ind AS 108);
(ii) the amount of the impairment loss recognised
or reversed by class of assets and, if the entity
reports segment information in accordance
with Ind AS 108, by reportable segment; and
(iii) if the aggregation of assets for identifying the
cash-generating unit has changed since the
previous estimate of the cash-generating unit's
recoverable amount (if any), a description of
the current and former way of aggregating
assets and the reasons for changing the way
the cash generating unit is identified.
(e) the recoverable amount of the asset (cash-
generating unit) and whether the recoverable
amount of the asset (cash-generating unit) is its
fair value less costs of disposal or its value in use.
(f) if the recoverable amount is fair value less costs of
disposal, the entity shall disclose the following
information:
(i) the level of the fair value hierarchy (see Ind AS
113) within which the fair value measurement
of the asset (cash-generating unit) is
categorised in its entirety (without taking into
account whether the `costs of disposal' are
observable);
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o aph s o A
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nce
(ii) for fair value measurements categorised within
Level 2 and Level 3 of the fair value hierarchy,
a description of the valuation technique(s)
used to measure fair value less costs of
disposal. If there has been a change in
valuation technique, the entity shall disclose
that change and the reason(s) for making it;
and
(iii) for fair value measurements categorised within
Level 2 and Level 3 of the fair value hierarchy,
each key assumption on which management
has based its determination of fair value less
costs of disposal. Key assumptions are those
to which the asset's (cash-generating unit's)
recoverable amount is most sensitive. The
entity shall also disclose the discount rate(s)
used in the current measurement and previous
measurement if fair value less costs of
disposal is measured using a present value
technique.
(g) if recoverable amount is value in use, the discount
rate(s) used in the current estimate and previous
estimate (if any) of value in use.
4. 36.131 With respect to aggregate impairment losses and the
aggregate reversals of impairment losses
recognised during the period for which no information
has been disclosed in accordance with paragraph
36.130, disclosure of the following:
(a) The main classes of assets affected by
impairment losses and the main classes of assets
affected by reversal of impairment losses, and
(b) The main events and circumstances that led to the
recognition of these impairment losses and
reversals of impairment losses?
5. 36.132 Optional disclosure regarding assumptions used to
determine the recoverable amount of assets (CGU)
during the period.
6. 36.133 If any portion of the goodwill acquired in a business
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nce
combination during the period has not been allocated
to a CGU (group of units) at the end of the reporting
period, disclosure of the amount of unallocated
goodwill together with the reasons why that amount
remains unallocated.
Estimates used to measure recoverable amounts
of cash-generating units containing goodwill or
intangible assets with indefinite useful lives
7. 36.134 Disclosure of the following information for each CGU
(group of units) for which the carrying amount of
goodwill or intangible assets with indefinite useful
lives allocated to that unit (group of units) is
significant in comparison with the entity's total
carrying amount of goodwill or intangible assets with
indefinite useful lives:
(a) The carrying amount of goodwill allocated to the
unit (group of units),
(b) The carrying amount of intangible assets with
indefinite useful lives allocated to the unit (group
of units),
(c) The basis on which the unit's (group of units')
recoverable amount has been determined (i.e.
value in use or fair value less costs of disposal),
(d) If the unit's (group of units') recoverable amount
is based on value in use:
i) each key assumption on which management
has based its cash flow projections for the
period covered by the most recent
budgets/forecasts. Key assumptions are
those to which the unit's (group of units')
recoverable amount is most sensitive,
ii) A description of management's approach to
determining the value(s) assigned to each
key assumption, whether those value(s)
reflect past experience or, if appropriate, are
consistent with external sources of
information, and, if not, how and why they
differ from past experience or external
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nce
sources of information,
iii) the period over which management has
projected cash flows based on financial
budgets/forecasts approved by management
and, when a period greater than five years is
used for a unit (group of units), an
explanation of why that longer period is
justified,
iv) the growth rate used to extrapolate cash flow
projections beyond the period covered by the
most recent budgets/ forecasts, and the
justification for using any growth rate that
exceeds the long-term average growth rate
for the products, industries, or country or
countries in which the entity operates, or for
the market to which the unit (group of units) is
dedicated, and
v) the discount rate(s) applied to the cash flow
projections.
(e) if the unit's (group of units') recoverable amount is
based on fair value less costs of disposal, the
valuation technique(s) used to measure fair value
less costs of disposal. An entity is not required to
provide the disclosures required by Ind AS 113. If
fair value less costs of disposal is not measured
using a quoted price for an identical unit (group of
units), an entity shall disclose the following
information:
i) each key assumption on which management
has based its determination of fair value less
costs of disposal. Key assumptions are those
to which the unit's (group of units') recoverable
amount is most sensitive,
ii) a description of management's approach to
determining the value (or values) assigned to
each key assumption, whether those values
reflect past experience or, if appropriate, are
consistent with external sources of information,
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nce
and, if not, how and why they differ from past
experience or external sources of information:
iiA) the level of the fair value hierarchy (see Ind
AS 113, Fair Value Measurement within which
the fair value measurement is categorised in
its entirety (without giving regard to the
observability of 'costs of disposal'), and
iiB) if there has been a change in valuation
technique, the change and the reason(s) for
making it,
If fair value less costs of disposal is measured
using discounted cash flow projections, the entity
shall disclose the following information:
iii) the period over which management has
projected cash flows,
iv) the growth rate used to extrapolate cash flow
projections,
v) the discount rate(s) applied to the cash flow
projections,
(f) If a reasonably possible change in a key
assumption on which management has based its
determination of the unit's (group of units')
recoverable amount would cause the unit's (group
of units') carrying amount to exceed its
recoverable amount:
i) The amount by which the unit's (group of
units') recoverable amount exceeds its
carrying amount,
ii) The value assigned to the key assumption,
and
iii) The amount by which the value assigned to
the key assumption must change, after
incorporating any consequential effects of that
change on the other variables used to
measure recoverable amount, in order for the
unit's (group of units') recoverable amount to
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nce
be equal to its carrying amount.
8. 36.135 If some or all of the carrying amount of goodwill or
intangible assets with indefinite useful lives is
allocated across multiple CGUs (groups of units), and
the amount so allocated to each unit (group of units)
is not significant in comparison with the entity's total
carrying amount of goodwill or intangible assets with
indefinite useful lives , disclosure of this fact, together
with the aggregate carrying amount of goodwill or
intangible assets with indefinite useful lives allocated
to those units (groups of units).
9. 36.135 If the recoverable amounts of any of those units
(groups of units) are based on the same key
assumption(s) and the aggregate carrying amount of
goodwill or intangible assets with indefinite useful
lives allocated to them is significant in comparison
with the entity's total carrying amount of goodwill or
intangible assets with indefinite useful lives,
disclosure of that fact together with the following:
(a) the aggregate carrying amount of goodwill
allocated to those units (groups of units),
(b) the aggregate carrying amount of intangible
assets with indefinite useful lives allocated to
those units (groups of units),
(c) a description of the key assumptions,
(d) a description of management's approach to
determining the value(s) assigned to the key
assumption(s), whether those value(s) reflect past
experience or, if appropriate, are consistent with
external sources of information, and, if not, how
and why they differ from past experience or
external sources of information, and
(e) if a reasonably possible change in the key
assumption(s) would cause the aggregate of the
units' (groups of units') carrying amounts to
exceed the aggregate of their recoverable
amounts:
i) The amount by which the aggregate of the
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nce
units' (groups of units') recoverable amounts
exceeds the aggregate of their carrying
amounts,
ii) The value(s) assigned to the key assumptions,
and
iii) The amount by which the value(s) assigned to
the key assumption(s) must change, after
incorporating any consequential effects of the
change on the other variables used to
measure recoverable amount, in order for the
aggregate of the units' (groups of units')
recoverable amounts to be equal to the
aggregate of their carrying amounts.
58
Ind AS 37, Provisions, Contingent Liabilities and
Contingent Assets
SN Parag Disclosure Ye N N
o. raph s o A
Refer
ence
1. 37.9 This Standard applies to provisions for restructurings
(including discontinued operations). When a
restructuring meets the definition of a discontinued
operation, additional disclosures may be required by
Ind AS 105, Non-current Assets Held for Sale and
Discontinued Operations.
2. 37.75 If an entity starts to implement a restructuring plan, or
announces its main features to those affected, only
after the reporting period, disclosure is required under,
Ind AS 10, Events after the Reporting Period, if the
restructuring is material and non-disclosure could
influence the economic decisions that users make on
the basis of the financial statement.
3. 37.84 For each class of provision, disclosure of:
(a) the carrying amount at the beginning and end of
the period;
(b) additional provisions made in the period, including
increases to existing provisions;
(c) amounts used (i.e., incurred and charged against
the provision) during the period;
(d) unused amounts reversed during the period; and
(e) the increase during the period in the discounted
amount arising from the passage of time and the
effect of any change in the discount rate.
Comparative information is not required.
4. 37.85 Disclosure of the following for each class of provision:
(a) a brief description of the nature of the obligation
and the expected timing of any resulting outflows of
economic benefits;
(b) an indication of the uncertainties about the amount
or timing of those outflows. Where necessary to
provide adequate information, an entity shall
disclose the major assumptions made concerning
future events, as addressed in paragraph 48; and
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(c) the amount of any expected reimbursement, stating
the amount of any asset that has been recognised
for that expected reimbursement.
5. 37.86 Unless the possibility of any outflow in settlement is
remote, for each class of contingent liability at the end
of the reporting period disclosure of a brief description
of the nature of the contingent liability and, where
practicable:
(a) an estimate of its financial effect, measured under
paragraphs 37.3637.52;
(b) an indication of the uncertainties relating to the
amount or timing of any outflow; and
(c) the possibility of any reimbursement.
6. 37.88 Where a provision and a contingent liability arise from
the same set of circumstances, disclosures as
required by paragraphs 37.8437.86 are given in a
way that shows the link between the provision and the
contingent liability.
7. 37.89 Where an inflow of economic benefits is probable,
disclosure of a brief description of the nature of the
contingent assets at the end of the reporting period,
and, where practicable, an estimate of their financial
effect, measured using the principles set out for
provisions in paragraphs 37.3637.52.
8. 37.91 Where any of the information required by paragraphs
37.86 and 37.89 is not disclosed because it is not
practicable to do so, that fact shall be stated.
9. 37.92 In extremely rare cases, disclosure of some or all of
the information required by paragraphs 37.8437.89
can be expected to prejudice seriously the position of
the entity in a dispute with other parties on the subject
matter of the provision, contingent liability or
contingent asset. In such cases, the information need
not be disclosed, but disclosure of the general nature
of the dispute, together with the fact that, and reason
why, the information has not been disclosed.
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Ind AS 38, Intangible Assets
SN Paragr Disclosure Ye N N
o. aph s o A
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nce
1. 38.118 Disclosure of the following for each class of intangible
assets, distinguishing between internally generated
intangible assets and other intangible assets:
(a) whether the useful lives are indefinite or finite and,
if finite, the useful lives or the amortisation rates
used;
(b) the amortisation methods used for intangible
assets with finite useful lives;
(c) the gross carrying amount and any accumulated
amortisation (aggregated with accumulated
impairment losses) at the beginning and end of
the period;
(d) the line item(s) of the statement of profit and loss
in which any amortisation of intangible assets is
included;
(e) a reconciliation of the carrying amount at the
beginning and end of the period showing:
(i) additions, indicating separately those from
internal development, those acquired
separately, and those acquired through
business combinations;
(ii) assets classified as held for sale or included in
a disposal group classified as held for sale in
accordance with Ind AS 105 and other
disposals;
(iii) increases or decreases during the period
resulting from revaluations under paragraphs
38.75, 38.85 and 38.86 and from impairment
losses recognised or reversed in other
comprehensive income in accordance with Ind
AS 36 (if any);
(iv) impairment losses recognised in profit or loss
during the period in accordance with Ind AS
36 (if any);
(v) impairment losses reversed in profit or loss
during the period in accordance with Ind AS
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36 (if any);
(vi) any amortisation recognised during the
period;
(vii) net exchange differences arising on the
translation of the financial statements into the
presentation currency, and on the translation
of a foreign operation into the presentation
currency of the entity; and
(viii) other changes in the carrying amount during
the period.
2. 38.119 A class of intangible assets is a grouping of assets of
a similar nature and use in an entity's operations.
Examples of separate classes may include:
(a) brand names;
(b) mastheads and publishing titles;
(c) computer software;
(d) licences and franchises;
(e) copyrights, patents and other industrial property
rights, service and operating rights;
(f) recipes, formulae, models, designs and
prototypes; and
(g) intangible assets under development.
The classes mentioned above are disaggregated
(aggregated) into smaller (larger) classes if this
results in more relevant information for the users of
the financial statements.
3. 38.120 Disclosures of information on impaired intangible
assets in accordance with Ind AS 36 in addition to the
information required by paragraph 38.118(e)(iii)(v).
4. 38.121 Disclosure required under Ind AS 8 regarding nature
and amount of a change in an accounting estimate
that has a material effect in the current period or is
expected to have a material effect in subsequent
periods resulting from factors such as:
(a) the assessment of an intangible asset's useful life;
(b) the amortisation method; or
(c) residual values.
5. 38.122 Disclosure of:
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(a) for an intangible asset assessed as having an
indefinite useful life, the carrying amount of that
asset and the reasons supporting the assessment
of an indefinite useful life. In giving these reasons,
the entity shall describe the factor(s) that played a
significant role in determining that the asset has
an indefinite useful life.
(b) a description, the carrying amount and remaining
amortisation period of any individual intangible
asset that is material to the entity's financial
statements.
(c) for intangible assets acquired by way of a
government grant and initially recognised at fair
value (paragraph 38.44):
(i) the fair value initially recognised for these
assets;
(ii) their carrying amount; and
(iii) whether they are measured after recognition
under the cost model or the revaluation model.
(d) the existence and carrying amounts of intangible
assets whose title is restricted and the carrying
amounts of intangible assets pledged as security
for liabilities.
(e) the amount of contractual commitments for the
acquisition of intangible assets.
6. 38.124 In case intangible assets are accounted for at
revalued amounts, disclosure of the following:
(a) by class of intangible assets:
(i) the effective date of the revaluation;
(ii) the carrying amount of revalued intangible
assets; and
(iii) the carrying amount that would have been
recognised had the revalued class of intangible
assets been measured after recognition using
the cost model in paragraph 38.74; and
(b) the amount of the revaluation surplus that relates
to intangible assets at the beginning and end of
the period, indicating the changes during the
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period and any restrictions on the distribution of
the balance to shareholders.
7. 38.126 Disclosure of the aggregate amount of research and
development expenditure recognised as an expense
during the period.
8. 38.128 Optional disclosure of the following information:
(a) a description of any fully amortised intangible
asset that is still in use; and
(b) a brief description of significant intangible assets
controlled by the entity but not recognised as
assets because they did not meet the recognition
criteria in this Standard or because they were
acquired or generated before this standard was
effective.
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Ind AS 40, Investment Property
SN Parag Disclosure Ye N N
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ence
1. 40.74 Following disclosures as required by Ind AS 17:
a) as an owner of an investment property - lessors'
disclosures about operating leases into which it
has entered, and
b) for investment property held under a finance
lease - lessees' disclosures for finance leases.
2. 40.75 Disclosure of the following:
a) accounting policy for measurement of investment
property,
b) when classification is difficult, the criteria used to
distinguish the investment property from owner-
occupied property and from property held for sale
in the ordinary course of business should be
disclosed,
c) the extent to which the fair value of investment
property (as measured or disclosed in the financial
statements) is based on a valuation by an
independent valuer who holds a recognised and
relevant professional qualification and has recent
experience in the location and category of the
investment property being valued. If there has been
no such valuation, that fact shall be disclosed,
d) the amounts recognised in profit or loss for:
i) rental income from investment property,
ii) direct operating expenses (including repairs and
maintenance) arising from investment property
that generated rental income during the period,
and
iii) direct operating expenses (including repairs and
maintenance) arising from investment property
that did not generate rental income during the
period,
e) the existence and amounts of restrictions on the
realisability of investment property or the
remittance of income and proceeds of disposal,
and
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f) contractual obligations to purchase, construct or
develop investment property or for repairs,
maintenance or enhancements.
3. 40.79 Disclosures of the following:
a) the depreciation methods used,
b) the useful lives or the depreciation rates used,
c) the gross carrying amount and the accumulated
depreciation (aggregated with accumulated
impairment losses) at the beginning and end of the
period,
d) a reconciliation of the carrying amount of
investment property at the beginning and end of
the period, showing the following:
i) additions, disclosing separately those
additions resulting from acquisitions and those
resulting from subsequent expenditure
recognised as an asset,
ii) additions resulting from acquisitions through
business combinations,
iii) assets classified as held for sale or included in
a disposal group classified as held for sale in
accordance with Ind AS 105 and other
disposals,
iv) depreciation,
v) the amount of impairment losses recognised,
and the amount of impairment losses
reversed, during the period in accordance with
Ind AS 36,
vi) the net exchange differences arising on the
translation of the financial statements into a
different presentation currency, and on
translation of a foreign operation into the
presentation currency of the reporting entity,
vii) transfers to and from inventories and owner-
occupied property, and
viii) other changes.
e) the fair value of investment property. In the
exceptional cases described in paragraph 40.53,
when an entity cannot measure the fair value of
the investment property reliably, disclosure of:
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(i) a description of the investment property;
(ii) an explanation of why fair value cannot be
measured reliably; and
(iii) if possible, the range of estimates within which
fair value is highly likely to lie.
4. 40.84 If, in accordance with paragraph 40.84C, an entity
E(b) reclassifies property at the date of initial application,
disclosure of the amounts reclassified to, or from,
investment property in accordance with this
paragraph. Disclosure of those amounts reclassified
can be as part of the reconciliation of the carrying
amount of investment property at the beginning and
end of the period as required by paragraph 40.79.
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Ind AS 41, Agriculture
SN Parag Disclosure Ye N N
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ence
1. 41.40 Disclosure of the aggregate gain or loss arising during
the current period on initial recognition of biological
assets and agriculture produce.
2. 41.40 Disclosure of the aggregate gain or loss arising during
the current period from the change in fair value less
costs to sell (FVLCTS) of biological assets.
3. 41.41 Description of each group of biological assets (in the
form of narrative or quantified description)
4. 41.43 Quantified description of each group of biological
assets, distinguishing between
(a) consumable and bearer biological assets, or
(b) between mature and immature biological assets.
For example, an entity may disclose the carrying
amounts of consumable biological assets and bearer
biological assets by group. An entity may further divide
those carrying amounts between mature and immature
assets. An entity shall disclose the basis for making
any such distinctions.
5. 41.46 Disclosure of the following (if not disclosed elsewhere
in information published with the financial statements):
(a) nature of its activities involving each group of
biological assets,
(b) non-financial measures or estimates of the
physical quantities of
(i) each group of entity's biological assets at the
end of period, and
(ii) output of agricultural produce during the
period.
6. 41.49 Disclosure of the following:
(a) the existence and carrying amounts of biological
assets whose title is restricted, and carrying
amounts of biological assets pledged as security
for liabilities,
(b) the amount of commitments for the development
or acquisition of biological assets, and
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(c) financial risk management strategies related to
agricultural activity.
7. 41.50 Reconciliation of changes in carrying amount of
biological assets between the beginning and the end
of the current period including:
(a) the gain or loss arising from changes in fair value
less costs to sell,
(b) increases/decreases due to purchases/harvest,
(c) decreases attributable to sales and biological
assets classified as held for sale (or included in a
disposal group that is classified as held for sale) in
accordance with Ind AS 105, Non-current Assets
Held for Sale and Discontinued Operations,
(d) increases resulting from business combinations,
(e) net exchange differences arising on the
translation of financial statements into a different
presentation currency, and on the translation of a
foreign operation into the presentation currency of
the reporting entity and;
(f) Other changes.
8. 41.51 The fair value less costs to sell of a biological asset
can change due to both physical changes and price
changes in the market. Separate disclosure of physical
and price changes is useful in appraising current
period performance and future prospects, particularly
when there is a production cycle of more than one
year.
In such cases, an entity is encouraged to disclose, by
group or otherwise, the amount of change in fair value
less costs to sell included in profit or loss due to
physical changes and due to price changes.
9. 41.54 In case biological assets are measured at their cost
less any accumulated depreciation and any
accumulated impairment losses (paragraph 41.30) at
the end of the period, disclosure of the following:
(a) description of the biological assets,
(b) an explanation of why fair value cannot be
measured reliably,
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(c) the range of estimates within which fair value is
highly likely to lie (if possible),
(d) the depreciation method used,
(e) useful lives or depreciation rates used, and
(f) the gross carrying amount and the accumulated
depreciation (aggregated with accumulated
impairment losses) at the beginning and end of
the period.
10. 41.55 If, during the current period, an entity measures
biological assets at their cost less any accumulated
depreciation and any accumulated impairment losses
(see paragraph 41.30), disclosure of any gain or loss
recognised on disposal of such biological assets and
the reconciliation required by paragraph 41.50 shall
disclose amounts related to such biological assets
separately. In addition, the reconciliation shall include
the following amounts included in profit or loss related
to those biological assets:
(a) Impairment losses,
(b) Reversals of impairment losses, and
(c) Depreciation.
11. 41.56 In case the fair value of biological asset previously
measured at their cost less any accumulated
depreciation and any accumulated impairment losses
becomes reliably measured during the current period,
has the entity disclosed following:
(a) description of biological assets,
(b) an explanation of why fair value has become
reliably measurable, and
(c) the effect of the change.
12. 41.57 Disclosure of the following related to agricultural
activity covered by the Standard:
(a) nature and extent of government grants
recognised in the financial statements;
(b) unfulfilled conditions and other contingencies
attaching to government grants;
(c) significant decreases expected in the level of
government grants.
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Ind AS 101, First-time Adoption of Indian Accounting
Standards
SN Paragra Disclosure Ye N N
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1. 101.22 In any financial statements containing historical
summaries or comparative information in
accordance with previous GAAP, an entity shall:
(a) label the previous GAAP information prominently
as not being prepared in accordance with Ind ASs;
and
(b) disclose the nature of the main adjustments that
would make it comply with Ind ASs. An entity need
not quantify those adjustments.
2. 101.24 If the entity recognised or reversed any impairment
losses for the first time in preparing its opening Ind
AS Balance Sheet, entity's first Ind AS financial
statements shall include disclosures that Ind AS 36,
Impairment of Assets, would have required if the
entity had recognised those impairment losses or
reversals in the period beginning with the date of
transition to Ind ASs.
3. 101.27A Disclosure of the fact and the accounting policy in
A case first time exemption option provided in
accordance with paragraph D7AA is adopted until
such time that those items of Property, plant and
equipment, investment properties or intangible
assets, as the case may be, are significantly
depreciated, impaired or derecognised from the
entity's Balance Sheet.
4. 101.28 In case financial statements for previous periods are
not presented, disclosure of that fact in first Ind AS
financial statements.
5. 101.29 In case, previously recognised financial asset is
designated as a financial asset measured at fair
value through profit or loss in accordance with
paragraph D19A, disclosure of the fair value of
financial assets so designated at the date of
designation and their classification and carrying
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amount in the previous financial statements.
6. 101.29A In case, previously recognised financial liability is
designated as a financial liability at fair value
through profit or loss in accordance with paragraph
D19, disclosure of the fair value of financial liabilities
so designated at the date of designation and their
classification and carrying amount in the previous
financial statements.
7. 101.30 In case fair value is used in opening Ind AS Balance
Sheet as deemed cost for an item of property, plant
and equipment or an intangible asset in accordance
with paragraphs 101.D5 and 101.D7, first Ind AS
financial statements shall disclose, for each line item
in the opening Ind AS Balance Sheet:
(a) the aggregate of those fair values; and
(b) the aggregate adjustment to the carrying
amounts reported under previous GAAP.
8. 101.31 In case, deemed cost is used in opening Ind AS
Balance Sheet for an investment in a subsidiary,
joint venture or associate in its separate financial
statements in accordance with paragraph 101.D15,
first Ind AS separate financial statements shall
disclose:
(a) the aggregate deemed cost of those investments
for which deemed cost is their previous GAAP
carrying amount;
(b) the aggregate deemed cost of those investments
for which deemed cost is fair value; and
(c) the aggregate adjustment to the carrying
amounts reported under previous GAAP.
9. 101.31A In case exemption in paragraph 101.D8A(b) for oil
and gas assets is used, disclosure of that fact and
the basis on which carrying amounts determined
under previous GAAP were allocated.
10. 101.31B In case exemption in paragraph 101.D8B for
operations subject to rate regulation is used,
disclosure of that fact and the basis on which
carrying amounts were determined under previous
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GAAP.
11. 101.31C In case assets and liabilities is elected to measure
at fair value and to use that fair value as the
deemed cost in opening Ind AS Balance Sheet
because of severe hyperinflation in accordance with
paragraphs 101.D26101.D30, first Ind AS financial
statements shall disclose an explanation of how,
and why, the entity had, and then ceased to have, a
functional currency that has both of the following
characteristics:
(a) a reliable general price index is not available to
all entities with transactions and balances in the
currency.
(b) exchangeability between the currency and a
relatively stable foreign currency does not exist.
12. 101.33 Ind AS 34 requires minimum disclosures, which are
based on the assumption that users of the interim
financial report also have access to the most recent
annual financial statements. However, Ind AS 34
also requires an entity to disclose `any events or
transactions that are material to an understanding of
the current interim period'.
Therefore, if a first-time adopter did not, in its most
recent annual financial statements in accordance
with previous GAAP, disclosed the information
material to an understanding of the current interim
period, disclosure in interim financial report that
information or inclusion of a cross-reference to
another published document that includes it.
13. 101.B8 Disclosure of the carrying amount at the reporting
A date of the financial assets whose contractual cash
flow characteristics have been assessed based on
the facts and circumstances that existed at the date
of transition to Ind ASs without taking into account
the requirements related to the modification of the
time value of money element in paragraphs
109.B4.1.9B109.B4.1.9D until those financial
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assets are derecognized.
14. 101.B8 Disclosure of the carrying amount at the reporting
B date of the financial assets whose contractual cash
flow characteristics have been assessed based on
the facts and circumstances that existed at the date
of transition to Ind ASs without taking into account
the exception for prepayment features in paragraph
109.B4.1.12 until those financial assets are
derecognised.
15. 101.D2 A first-time adopter is encouraged, but not required,
to apply Ind AS 102, Share based payment, to
equity instruments that vested before date of
transition to Ind ASs.
In case a first-time adopter elects to apply Ind AS
102 to such equity instruments, it may do so only if
disclosure is made publicly of the fair value of those
equity instruments, determined at the measurement
date, as defined in Ind AS 102.
For all grants of equity instruments to which Ind AS
102 has not been applied (eg, equity instruments
vested but not settled before date of transition to Ind
AS), disclosure by a first-time adopter of the
information required by paragraphs 102.44 and
102.45.
16. 101.D4 An entity shall apply Ind AS 104, Insurance
Contracts, for annual periods beginning on or after
date of transition to Ind ASs. Earlier application is
encouraged. If Ind AS 104 applies for an earlier
period, disclosure of the fact.
17. 101.D4 If it is impracticable, when an entity first applies Ind
AS 104, to prepare information about claims
development that occurred before the beginning of
the earliest period for which an entity presents full
comparative information that complies with this Ind
AS, disclosure of that fact.
18. 101.D22 Disclosure of the fact that retrospective
(iii) remeasurement of service arrangement assets is
not practicable
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19. 101.D31 If aggregating all previously proportionately
AD consolidated assets and liabilities results in negative
net assets, an entity shall assess whether it has
legal or constructive obligations in relation to the
negative net assets and, if so, the entity shall
recognise the corresponding liability. If the entity
concludes that it does not have legal or constructive
obligations in relation to the negative net assets, it
shall not recognise the corresponding liability but it
shall adjust retained earnings at the date of
transition to Ind ASs. Disclosure of this fact, along
with its cumulative unrecognised share of losses of
its joint ventures at the date of transition to Ind ASs.
20. 101.D31 Disclosure of a breakdown of the assets and
AE liabilities that have been aggregated into the single
line investment balance at the date of transition to
Ind ASs. That disclosure shall be prepared in an
aggregated manner for all joint ventures at the date
of transition to Ind ASs.
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Ind AS 102, Share-based Payments
SN Paragra Disclosure Ye N N
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Referenc
e
1. 102.45(a) With regard to the nature and extent of share-based
transactions, disclosure of:
a) a description of each type of share-based
payment arrangement that existed at any time
during the period, including the general terms
and conditions of each arrangement, and
b) aggregated information for substantially similar
types of share- based payment arrangements
(unless separate disclosure of each
arrangement is necessary).
2. 102.45(b) Disclosure of the number and weighted average
exercise prices of share options for each of the
following groups of options:
(i) Outstanding at the beginning of the period,
(ii) Granted during the period,
(iii) Forfeited during the period,
(iv) Exercised during the period,
(v) Expired during the period,
(vi) Outstanding at the end of the period, and
(vii) Exercisable at the end of the period.
3. 102.45(c) Disclosure of weighted average share price at the
date of exercise with regards to share options
exercised during the period.
Disclosure of the weighted average share price
during the period, if options were exercised on a
regular basis throughout the period.
4. 102.45(d) For share options outstanding at the end of the
period, disclosure of the range of exercise prices
and weighted average remaining contractual life.
If the range of exercise prices is wide, the
outstanding options is divided into ranges that are
meaningful for assessing number and timing of
additional shares that may be issued and the cash
that may be received upon exercise of those
options.
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5. 102.46 Disclosure of information that enables users of the
financial statements to understand how the fair
value of the goods or services received, or the fair
value of the equity instruments granted, during the
period was determined.
6. 102.47 In case the fair value of goods or services received
is measured as consideration for equity instruments
of the entity indirectly, by reference to the fair value
of the equity instruments granted, disclosure of at
least the following:
a) For share options granted during the period,
the weighted average fair value of those
options at the measurement date and
information on how that fair value was
measured, including:
i) the option pricing model used and the
inputs to that model, including the
weighted average share price, exercise
price, expected volatility, option life,
expected dividends, the risk-free interest
rate and any other inputs to the model,
including the method used and the
assumptions made to incorporate the
effects of expected early exercise,
ii) how expected volatility was determined,
including an explanation of the extent to
which expected volatility was based on
historical volatility, and
iii) whether and how any other features of
the option grant were incorporated into
the measurement of fair value, such as a
market condition.
b) For other equity instruments granted during the
period (i.e. other than share options), the
number and weighted average fair value of
those equity instruments at the measurement
date, and information on how that fair value
was measured, including:
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i) if fair value was not measured on the
basis of an observable market price, how
it was determined,
ii) whether and how any other features of
the equity instruments granted were
incorporated into the measurement of fair
value.
iii) whether and how any other features of
the equity instruments granted were
incorporated into the measurement of fair
value.
c) For share-based payment arrangements that
were modified during the period:
i) an explanation of those modifications
ii) the incremental fair value granted (as a
result o f those modifications), and
iii) information on how the incremental fair
value granted was measured, consistently
with the requirements set out in (a) and (b)
above, where applicable.
7. 102.48 In case fair value of goods or services received
during the period is measured directly, disclosure of
how that fair value was determined.
8. 102.49 In case the presumption that the fair value of the
goods or services received cannot be estimated
reliably is rebutted, disclosure of that fact, and an
explanation of why the presumption was rebutted.
9. 102.51 Disclosure of the following with regard to
understanding the effect of share-based payment
transactions on the entity's profit or loss for the
period and on its financial position:
a) the total expense recognised for the period
arising from share-based payment transactions
in which the goods or services received did not
qualify for recognition as assets and hence
were recognised immediately as an expense,
including portion of the total expense that
arises from transactions accounted for as
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equity-settled share-based payment
transactions, and
b) for liabilities arising from share-based payment
transactions, has the entity disclosed:
i) the total carrying amount at the end of the
period,
ii) the total intrinsic value at the end of the
period of liabilities for which the
counterparty's right to cash or other assets
had vested by the end of the period.
10. 102.52 If the information required to be disclosed by this
Standard does not satisfy the principles in the
disclosure paragraphs, has the entity disclosed such
additional information as is necessary to satisfy
them.
For example, if an entity has classified any share-
based payment transactions as equity-settled in
accordance with paragraph 102.33F, disclosure of
an estimate of the amount that it expects to transfer
to the tax authority to settle the employee's tax
obligation when it is necessary to inform users about
the future cash flow effects associated with the
share-based payment arrangement.
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Ind AS 103, Business Combinations
SN Paragr Disclosure Yes No NA
o. aph
Refere
nce
1. 103.59 Disclosure by the acquirer regarding information that
enables users of its financial statements to evaluate
the nature and financial effect of a business
combination that occurs either:
(a) during the current reporting period; or
(b) after the end of the reporting period but before the
financial statements are approved for issue.
2. 103.61 Disclosure by the acquirer regarding information that
enables users of its financial statements to evaluate
the financial effects of adjustments recognised in the
current reporting period that relate to business
combinations that occurred in the period or previous
reporting periods.
3. 103.63 If the specific disclosures required by this and other
Ind ASs do not meet the objectives set out in
paragraphs 103.59 and 103.61, disclosure of
whatever additional information is necessary to meet
those objectives.
4. 103.B6 To meet the objective in paragraph 103.59,
4 disclosure by the acquirer of the following information
for each business combination that occurs during the
reporting period:
(a) the name and a description of the acquiree
(b) the acquisition date.
(c) the percentage of voting equity interests acquired.
(d) the primary reasons for the business combination
and a description of how the acquirer obtained
control of the acquiree.
(e) a qualitative description of the factors that make
up the goodwill recognised, such as expected
synergies from combining operations of the
acquiree and the acquirer, intangible assets that
do not qualify for separate recognition or other
factors.
(f) the acquisition-date fair value of the total
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consideration transferred and the acquisition-date
fair value of each major class of consideration,
such as:
(i) cash;
(ii) other tangible or intangible assets, including a
business or subsidiary of the acquirer;
(iii) liabilities incurred, for example, a liability for
contingent consideration; and
(iv) equity interests of the acquirer, including the
number of instruments or interests issued or
issuable and the method of measuring the fair
value of those instruments or interests
(g) for contingent consideration arrangements and
indemnification assets:
(i) the amount recognised as of the acquisition
date;
(ii) a description of the arrangement and the basis
for determining the amount of the payment; and
(iii) an estimate of the range of outcomes
(undiscounted) or, if a range cannot be estimated,
that fact and the reasons why a range cannot be
estimated. If the maximum amount of the payment
is unlimited, the acquirer shall disclose that fact.
(h) for acquired receivables:
(i) the fair value of the receivables;
(ii) the gross contractual amounts receivable; and
(iii) the best estimate at the acquisition date of the
contractual cash flows not expected to be
collected.
The disclosures shall be provided by major class
of receivable, such as loans, direct finance leases
and any other class of receivables.
(i) the amounts recognised as of the acquisition date
for each major class of assets acquired and
liabilities assumed.
for each contingent liability recognised in
accordance with paragraph 103.23, the
information required in paragraph 37.85. If a
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contingent liability is not recognised because its
fair value cannot be measured reliably, the
acquirer shall disclose:
(i) the information required by paragraph 37.86;
and
(ii) the reasons why the liability cannot be
measured reliably.
(j) the total amount of goodwill that is expected to be
deductible for tax purposes.
(k) for transactions that are recognised separately
from the acquisition of assets and assumption of
liabilities in the business combination in
accordance with paragraph 103.51:
(i) a description of each transaction;
(ii) how the acquirer accounted for each
transaction;
(iii) the amounts recognised for each transaction
and the line item in the financial statements in
which each amount is recognised; and
(iv) if the transaction is the effective settlement of
a pre-existing relationship, the method used to
determine the settlement amount.
(l) the disclosure of separately recognised
transactions required by (l) shall include the
amount of acquisition-related costs and,
separately, the amount of those costs recognised
as an expense and the line item or items in the
statement of profit and loss in which those
expenses are recognised. The amount of any
issue costs not recognised as an expense and
how they were recognised shall also be disclosed.
(m) in a bargain purchase (in accordance with
paragraphs 103.34103.36A):
(i) the amount of any gain recognised in other
comprehensive income in accordance with
paragraph 103.34;
(ii) the amount of any gain directly recognised in
equity in accordance with paragraph
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103.36A;and
(iii) a description of the reasons why the
transaction resulted in a gain in case of (i) above.
(n) for each business combination in which the
acquirer holds less than 100 per cent of the equity
interests in the acquiree at the acquisition date:
(i) the amount of the non-controlling interest in the
acquiree recognised at the acquisition date and
the measurement basis for that amount; and
(ii) for each non-controlling interest in an acquiree
measured at fair value, the valuation
technique(s) and significant inputs used to
measure that value.
(p) in a business combination achieved in stages:
(i) the acquisition-date fair value of the equity
interest in the acquiree held by the acquirer
immediately before the acquisition date; and
(ii) the amount of any gain or loss recognised as a
result of remeasuring to fair value the equity
interest in the acquiree held by the acquirer
before the business combination (paragraph
103.42) and the line item in the statement of
profit and loss in which that gain or loss is
recognised.
(q) the following information:
(i) the amounts of revenue and profit or loss of the
acquiree since the acquisition date included in
the consolidated statement of profit and loss for
the reporting period; and
(ii) the revenue and profit or loss of the combined
entity for the current reporting period as though
the acquisition date for all business
combinations that occurred during the year had
been as of the beginning of the annual reporting
period.
If disclosure of any of the information required by
this subparagraph is impracticable, disclosure by
the acquirer of that fact and explanation why the
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disclosure is impracticable. This Ind AS uses the
term `impracticable' with the same meaning as in
Ind AS 8, Accounting Policies, Changes in
Accounting Estimates and Errors.
5. 103.B6 For individually immaterial business combinations
5 occurring during the reporting period that are material
collectively, disclosure by acquirer in aggregate the
information required by paragraph 103.B64(e)(q).
6. 103.B6 If the acquisition date of a business combination is
6 after the end of the reporting period but before the
financial statements are approved for issue,
disclosure by acquirer the information required by
paragraph 103.B64 unless the initial accounting for
the business combination is incomplete at the time
the financial statements are approved for issue. In
that situation, the acquirer shall describe which
disclosures could not be made and the reasons why
they cannot be made.
7. 103.B6 To meet the objective in paragraph 103.61,
7 disclosure of the following information for each
material business combination or in the aggregate for
individually immaterial business combinations that
are material collectively:
(a) if the initial accounting for a business
combination is incomplete (see paragraph
103.45) for particular assets, liabilities, non-
controlling interests or items of consideration
and the amounts recognised in the financial
statements for the business combination thus
have been determined only provisionally:
(i) the reasons why the initial accounting for the
business combination is incomplete;
(ii) the assets, liabilities, equity interests or items
of consideration for which the initial
accounting is incomplete; and
(iii) the nature and amount of any measurement
period adjustments recognised during the
reporting period in accordance with
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paragraph 103.49.
(b) for each reporting period after the acquisition date
until the entity collects, sells or otherwise loses
the right to a contingent consideration asset, or
until the entity settles a contingent consideration
liability or the liability is cancelled or expires.
for contingent liabilities recognised in a business
combination, the acquirer shall disclose the
information required by paragraphs 37.84 and
37.85 for each class of provision.
(d) a reconciliation of the carrying amount of goodwill
at the beginning and end of the reporting period
showing separately:
(i) the gross amount and accumulated
impairment losses at the beginning of the
reporting period.
(ii) additional goodwill recognised during the
reporting period, except goodwill included in a
disposal group that, on acquisition, meets the
criteria to be classified as held for sale in
accordance with Ind AS 105, Non-current
Assets Held for Sale and Discontinued
Operations.
(iii) adjustments resulting from the subsequent
recognition of deferred tax assets during the
reporting period in accordance with
paragraph 103.67.
(iv) goodwill included in a disposal group
classified as held for sale in accordance with
Ind AS 105 and goodwill derecognised during
the reporting period without having previously
been included in a disposal group classified
as held for sale.
(v) impairment losses recognised during the
reporting period in accordance with Ind AS
36. (Ind AS 36 requires disclosure of
information about the recoverable amount
and impairment of goodwill in addition to this
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requirement.)
(vi) net exchange rate differences arising during
the reporting period in accordance with Ind
AS 21, The Effects of Changes in Foreign
Exchange Rates.
(vii) any other changes in the carrying amount
during the reporting.
(viii) the gross amount and accumulated
impairment losses at the end of the reporting
period.
(e) the amount and an explanation of any gain or
loss recognised in the current reporting period
that both:
(i) relates to the identifiable assets acquired or
liabilities assumed in a business
combination that was effected in the current
or previous reporting period; and
(ii) is of such a size, nature or incidence that
disclosure is relevant to understanding the
combined entity's financial statements.
8. 103.C1 Following disclosures in the first financial statements
3 following the business combination:
(a) names and general nature of business of the
combining entities,
(b) date on which transferor obtains control of the
transferee,
(c) description and number of shares issued, together
with the percentage of each entity's equity shares
exchanged to effect the combination, and
(d) amount of any difference between the
consideration and the value of net assets taken
over, and the treatment thereof.
9. 103.C1 When a combination is effected after the balance
4 sheet but before approval of the financial statements,
disclosure in accordance with Ind AS 10, but the
combination is not incorporated in the financial
statements.
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Ind AS 104, Insurance Contracts
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1. 104.36 Disclose by an insurer of information that identifies
and explains the amounts in its financial statements
arising from insurance contracts.
2. 104.37 To comply with paragraph 104.36, disclosure by an
insurer:
(a) its accounting policies for insurance contracts and
related assets, liabilities, income and expense.
(b) the recognised assets, liabilities, income and
expense (and, if it presents its statement of cash
flows using the direct method, cash flows) arising
from insurance contracts. Furthermore, if the
insurer is a cedant, disclosure of:
(i) gains and losses recognised in profit or loss on
buying reinsurance; and
(ii) if the cedant defers and amortises gains and
losses arising on buying reinsurance, the
amortisation for the period and the amounts
remaining unamortised at the beginning and
end of the period.
(c) the process used to determine the assumptions
that have the greatest effect on the measurement
of the recognised amounts described in (b). When
practicable, an quantified disclosure of those
assumptions.
(d) the effect of changes in assumptions used to
measure insurance assets and insurance
liabilities, showing separately the effect of each
change that has a material effect on the financial
statements.
(e) reconciliations of changes in insurance liabilities,
reinsurance assets and, if any, related deferred
acquisition costs.
3. 104.38 Disclosure of information by an insurer that enables
users of its financial statements to evaluate the
nature and extent of risks arising from insurance
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contracts.
4. 104.39 To comply with paragraph 104.38, disclosure by an
insurer:
(a) its objectives, policies and processes for
managing risks arising from insurance contracts
and the methods used to manage those risks.
(b) information about insurance risk (both before and
after risk mitigation by reinsurance), including
information about:
(i) sensitivity to insurance risk (see paragraph
104.39A).
(ii) concentrations of insurance risk, including a
description of how management determines
concentrations and a description of the shared
characteristic that identifies each concentration
(e.g., type of insured event, geographical area,
or currency).
(iii) actual claims compared with previous
estimates (i.e., claims development). The
disclosure about claims development shall go
back to the period when the earliest material
claim arose for which there is still uncertainty
about the amount and timing of the claims
payments, but need not go back more than ten
years. Disclose of this information is not
required for claims for which uncertainty about
the amount and timing of claims payments is
typically resolved within one year.
(c) information about credit risk, liquidity risk and
market risk that paragraphs 107.31107.42
would require if the insurance contracts were
within the scope of Ind AS 107. However:
(i) the maturity analysis need not provided as
required by paragraph 107.39(a) and (b) if it
discloses information about the estimated
timing of the net cash outflows resulting from
recognised insurance liabilities instead. This
may take the form of an analysis, by estimated
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timing, of the amounts recognised in the
balance sheet.
(ii) if an insurer uses an alternative method
conditions, such as an embedded value
analysis, it may use that sensitivity analysis to
meet the requirement in paragraph 107.40(a).
Such an insurer shall also provide the
disclosures required by paragraph 107.41.
(d) information about exposures to market risk
arising from embedded derivatives contained
in a host insurance contract if the insurer is not
required to, and does not, measure the
embedded derivatives at fair value.
5. 104.39 To comply with paragraph 104.39(c)(i), disclosure by
A an insurer either (a) or (b) as follows:
(a) a sensitivity analysis that shows how profit or loss
and equity would have been affected if changes in
the relevant risk variable that were reasonably
possible at the end of the reporting period had
occurred; the methods and assumptions used in
preparing the sensitivity analysis; and any
changes from the previous period in the methods
and assumptions used. However, if an insurer
uses an alternative method to manage sensitivity
to market conditions, such as an embedded value
analysis, it may meet this requirement by
disclosing that alternative sensitivity analysis and
the disclosures required by paragraph 107.41.
(b) qualitative information about sensitivity, and
information about those terms and conditions of
insurance contracts that have a material effect on
the amount, timing and uncertainty of the insurer's
future cash flows.
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Ind AS 105, Non-current Assets Held for Sale and
Discontinued Operations
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1. 105.30 Disclosure of following information that enables
and users of the financial statements to evaluate the
105.33 financial effects of discontinued operations and
disposals of non-current assets (or disposal groups):
(a) a single amount in the statement of profit and
loss comprising the total of:
(i) the post-tax profit or loss of discontinued
operations and
(ii) the post-tax gain or loss recognised on the
measurement to fair value less costs to sell or
on the disposal of the assets or disposal
group(s) constituting the discontinued
operation.
(b) an analysis of the single amount in (a) into:
(i) the revenue, expenses and pre-tax profit or
loss of discontinued operations;
(ii) the related income tax expense as required
by paragraph 12.81(h); and
(iii) the gain or loss recognised on the
measurement to fair value less costs to sell or
on the disposal of the assets or disposal
group(s) constituting the discontinued
operation.
(iv) the related income tax expense as required
by paragraph 12.81(h). The analysis may be
presented in the notes or in the statement of
profit and loss. If it is presented in the
statement of profit and loss it shall be
presented in a section identified as relating to
discontinued operations, ie separately from
continuing operations. The analysis is not
required for disposal groups that are newly
acquired subsidiaries that meet the criteria to
be classified as held for sale on acquisition
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(see paragraph 11).
(c) the net cash flows attributable to the operating,
investing and financing activities of discontinued
operations. These disclosures may be presented
either in the notes or in the financial statements.
These disclosures are not required for disposal
groups that are newly acquired subsidiaries that
meet the criteria to be classified as held for sale
on acquisition (see paragraph 11).
(d) the amount of income from continuing operations
and from discontinued operations attributable to
owners of the parent. These disclosures may be
presented either in the notes or in the statement
of profit and loss.
2. 105.34 Re-presentation of the disclosures in paragraph
105.33 for prior periods presented in the financial
statements so that the disclosures relate to all
operations that have been discontinued by the end
of the reporting period for the latest period
presented.
3. 105.35 Separate classification in discontinued operations
adjustments in the current period to amounts
previously presented in discontinued operations that
are directly related to the disposal of a discontinued
operation in a prior period. Disclosures of the nature
and amount of such adjustments.
Examples of circumstances in which these
adjustments may arise include the following:
(a) the resolution of uncertainties that arise from the
terms of the disposal transaction, such as the
resolution of purchase price adjustments and
indemnification issues with the purchaser.
(b) the resolution of uncertainties that arise from and
are directly related to the operations of the
component before its disposal, such as
environmental and product warranty obligations
retained by the seller.
(c) the settlement of employee benefit plan
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obligations, provided that the settlement is
directly related to the disposal transaction
4. 105.36 If an entity ceases to classify a component of an
entity as held for sale, the results of operations of
the component previously presented in discontinued
operations in accordance with paragraphs 105.33
105.35 shall be reclassified and included in income
from continuing operations for all periods presented.
The amounts for prior periods shall be described as
having been re-presented.
5. 105.36A In case entity committed to a sale plan involving loss
of control of a subsidiary, disclosure of the
information required in paragraphs 105.33105.36
when the subsidiary is a disposal group that meets
the definition of a discontinued operation in
accordance with paragraph 105.32.
6. 105.37 Gains or losses relating to continuing
operations
Whether any gain or loss on the remeasurement of
a non-current asset (or disposal group) classified as
held for sale that does not meet the definition of a
discontinued operation is included in profit or loss
from continuing operations.
7. 105.38 For non-current asset or disposal group classified as
held for sale, disclosure of:
(a) non-current asset and the assets of a disposal
group classified as held for sale separately from
other assets in the balance sheet.
(b) liabilities of a disposal group classified as held for
sale separately from other liabilities in the
balance sheet.
(c) assets and liabilities not offset and presented as
a single amount.
(d) the major classes of assets and liabilities
classified as held for sale either in the balance
sheet or in the notes, except as permitted by
paragraph 105.39.
(e) cumulative income or expense recognised in
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other comprehensive income relating to a non-
current asset (or disposal group) classified as
held for sale
8. 105.39 Disclosure of the major classes of assets and
liabilities is not required if the disposal group is a
newly acquired subsidiary that meets the criteria to
be classified as held for sale on acquisition (see
paragraph 105.11).
Additional disclosures
9. 105. 41 Disclosure of the following information in the notes
in the period in which a non-current asset (or
disposal group) has been either classified as held
for sale or sold:
(a) a description of the non-current asset (or
disposal group);
(b) a description of the facts and circumstances of
the sale, or leading to the expected disposal, and
the expected manner and timing of that disposal;
(c) the gain or loss recognised in accordance with
paragraphs 105.20105.22 and, if not separately
presented in the statement of profit and loss, the
caption in the statement of profit and loss that
includes that gain or loss;
(d) if applicable, the reportable segment in which the
non-current asset (or disposal group) is
presented in accordance with Ind AS 108,
Operating Segments.
10. 105. 42 In case either paragraph 105.26 or paragraph
105.29 applies, disclosure of, in the period of the
decision to change the plan to sell the non-current
asset (or disposal group), a description of the facts
and circumstances leading to the decision and the
effect of the decision on the results of operations for
the period and any prior periods presented.
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Ind AS 106, Exploration for and Evaluation of Mineral
Resources
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1. 106.18 In case, on assessment, facts and circumstances
suggest that the carrying amount of exploration and
evaluation assets exceeds its recoverable amount,
disclosure of any resulting impairment loss in
accordance with Ind AS 36, except as provided by
paragraph 106.21.
2. 106.23 Disclosure of information that identifies and explains
the amounts recognised in its financial statements
arising from the exploration for and evaluation of
mineral resources.
3. 106.24 To comply with paragraph 106.23, disclosure of:
(a) its accounting policies for exploration and
evaluation expenditures including the recognition
of exploration and evaluation assets.
(b) the amounts of assets, liabilities, income and
expense and operating and investing cash flows
arising from the exploration for and evaluation of
mineral resources.
4. 106.25 Treat exploration and evaluation of assets as a
separate class of assets and make the disclosures
required by either Ind AS 16 or Ind AS 38 consistent
with how the assets are classified.
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Ind AS 107, Financial Instruments: Disclosures
Disclosure requirements for Ind AS 109 and Ind AS 32 are laid down in Ind AS 107.
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Balance Sheet-Categories of financial assets and
financial liabilities
1. 107.8 The carrying amounts of each of the following
categories, as specified in Ind AS 109, shall be
disclosed either in the balance sheet or in the notes:
(a) financial assets measured at fair value through
profit or loss, showing separately (i) those
designated as such upon initial recognition or
subsequently in accordance with paragraph
109.6.7.1 and (ii) those mandatorily measured at
fair value through profit or loss in accordance
with Ind AS 109.
(b) financial liabilities at fair value through profit or
loss, showing separately (i) those designated as
such upon initial recognition or subsequently in
accordance with paragraph 6.7.1 of Ind AS 109
and (ii) those that meet the definition of held for
trading in Ind AS 109 .
(c) financial assets measured at amortised cost.
(d) financial liabilities measured at amortised cost.
(e) financial assets measured at fair value through
other comprehensive income, showing
separately (i) financial assets that are measured
at fair value through other comprehensive
income in accordance with paragraph
109.4.1.2A; and (ii) investments in equity
instruments designated as such upon initial
recognition in accordance with paragraph 109.
5.7.5.
Balance Sheet-Financial assets or financial
liabilities at fair value through profit or loss
2. 107.9 In case a financial asset (or group of financial assets)
has designated as measured at fair value through
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profit or loss that would otherwise be measured at fair
value through other comprehensive income or
amortised cost, disclosure of:
(a) the maximum exposure to credit risk (see
paragraph 107.36(a)) of the financial asset (or
group of financial assets) at the end of the
reporting period.
(b) the amount by which any related credit derivatives
or similar instruments mitigate that maximum
exposure to credit risk (see paragraph
107.36(b)).
(c) the amount of change, during the period and
cumulatively, in the fair value of the financial
asset (or group of financial assets) that is
attributable to changes in the credit risk of the
financial asset determined either:
(i) as the amount of change in its fair value that is
not attributable to changes in market
conditions that give rise to market risk ; or
(ii) using an alternative method the entity
believes more faithfully represents the
amount of change in its fair value that is
attributable to changes in the credit risk of
the asset. Changes in market conditions that
give rise to market risk include changes in
an observed (benchmark) interest rate,
commodity price, foreign exchange rate or
index of prices or rates.
(d) the amount of the change in the fair value of any
related credit derivatives or similar instruments
that has occurred during the period and
cumulatively since the financial asset was
designated.
3. 107.10 In case a financial liability has been designated as at
fair value through profit or loss in accordance with
paragraph 109.4.2.2 and is required to present the
effects of changes in that liability's credit risk in other
comprehensive income (see paragraph 109.5.7.7),
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disclosure of:
(a) the amount of change, cumulatively, in the fair
value of the financial liability that is attributable to
changes in the credit risk of that liability (see
paragraphs 109.B5.7.13-109.B5.7.20) for
guidance on determining the effects of changes
in a liability's credit risk).
(b) the difference between the financial liability's
carrying amount and the amount the entity would
be contractually required to pay at maturity to the
holder of the obligation.
(c) any transfers of the cumulative gain or loss within
equity during the period including the reason for
such transfers.
(d) if a liability is derecognised during the period, the
amount (if any) presented in other
comprehensive income that was realised at
derecognition.
4. 107.10A In case a financial liability has been designated as at
fair value through profit or loss in accordance with
paragraph 109.4.2.2 and is required to present all
changes in the fair value of that liability (including the
effects of changes in the credit risk of the liability) in
profit or loss (see paragraphs 109.5.7.7 and
109.5.7.8), disclosure of:
(a) the amount of change, during the period and
cumulatively, in the fair value of the financial
liability that is attributable to changes in the credit
risk of that liability (see paragraphs 109.B5.7.13
109.B5.7.20 for guidance on determining the
effects of changes in a liability's credit risk); and
(b) the difference between the financial liability's
carrying amount and the amount the entity would
be contractually required to pay at maturity to the
holder of the obligation.
5. 107.11 Disclosure of:
(a) a detailed description of the methods used to
comply with the requirements in paragraphs
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107.9(c), 107.10(a) and 107.10A(a) and
paragraph 109.5.7.7(a), including an explanation
of why the method is appropriate.
(b) in case it is believed that the disclosure has given,
either in the balance sheet or in the notes, to
comply with the requirements in paragraph
107.9(c), 107.10(a) or 107.10A(a) or paragraph
109. 5.7.7(a) does not faithfully represent the
change in the fair value of the financial asset or
financial liability attributable to changes in its
credit risk, the reasons for reaching this
conclusion and the factors it believes are
relevant.
(c) a detailed description of the methodology or
methodologies used to determine whether
presenting the effects of changes in a liability's
credit risk in other comprehensive income would
create or enlarge an accounting mismatch in
profit or loss (see paragraphs 109.5.7.7 and
109.5.7.8). In case the effects of changes in a
liability's credit risk in profit or loss (see
paragraph 109.5.7.8), is required to present, the
disclosure must include a detailed description of
the economic relationship described in paragraph
109.B5.7.6.
Investments in equity instruments designated at
fair value through other comprehensive income
6. 107.11A In case investments in equity instruments are
designated to be measured at fair value through
other comprehensive income, as permitted by
paragraph 109.5.7.5, disclosure of:
(a) which investments in equity instruments have
been designated to be measured at fair value
through other comprehensive income.
(b) the reasons for using this presentation
alternative.
(c) the fair value of each such investment at the end
of the reporting period.
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(d) dividends recognised during the period, showing
separately those related to investments
derecognised during the reporting period and
those related to investments held at the end of
the reporting period.
(e) any transfers of the cumulative gain or loss within
equity during the period including the reason for
such transfers.
7. 107.11B In case investments in equity instruments measured
at fair value through other comprehensive income is
derecognised during the reporting period, disclosure
of:
(a) the reasons for disposing of the investments.
(b) the fair value of the investments at the date of
derecognition.
(c) the cumulative gain or loss on disposal.
Re-classification
8. 107.12B Disclosure if, in the current or previous reporting
periods, entity has reclassified any financial assets in
accordance with paragraph 109.4.4.1. For each such
event, disclosure of:
(a) the date of reclassification.
(b) a detailed explanation of the change in business
model and a qualitative description of its effect
on the entity's financial statements.
(c) the amount reclassified into and out of each
category.
9. 107.12C For each reporting period following reclassification
until derecognition, disclosure for assets reclassified
out of the fair value through profit or loss category so
that they are measured at amortised cost or fair value
through other comprehensive income in accordance
with paragraph 109.4.4.1:
(a) the effective interest rate determined on the date
of reclassification; and
(b) the interest revenue recognised.
10. 107.12D If, since its last annual reporting date, financial assets
reclassified out of the fair value through other
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comprehensive income category so that they are
measured at amortised cost or out of the fair value
through profit or loss category so that they are
measured at amortised cost or fair value through
other comprehensive income disclosure of:
(a) the fair value of the financial assets at the end of
the reporting period; and
(b) the fair value gain or loss that would have been
recognised in profit or loss or other
comprehensive income during the reporting
period if the financial assets had not been
reclassified.
Offsetting financial assets and financial liabilities
11. 107.13A Disclosures in paragraphs 107.13B107.13E
supplement the other disclosure requirements of Ind
AS 107 and are required for all recognised financial
instruments that are set off in accordance with
paragraph 32.42. These disclosures also apply to
recognised financial instruments that are subject to
an enforceable master netting arrangement or similar
agreement, irrespective of whether they are set off in
accordance with paragraph 32.42.
12. 107.13B Disclosure of information to enable users of financial
statements to evaluate the effect or potential effect of
netting arrangements on the entity's financial
position. This includes the effect or potential effect of
rights of set-off associated with the entity's
recognised financial assets and recognised financial
liabilities that are within the scope of paragraph
107.13A.
13. 107.13C To meet the objective in paragraph 107.13B,
disclosure of, at the end of the reporting period, the
following quantitative information separately for
recognised financial assets and recognised financial
liabilities that are within the scope of paragraph
107.13A:
(a) the gross amounts of those recognised financial
assets and recognised financial liabilities;
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(b) the amounts that are set-off in accordance with
the criteria in paragraph 32.42 when determining
the net amounts presented in the statement of
financial position;
(c) the net amounts presented in the balance sheet;
(d) the amounts subject to an enforceable master
netting arrangement or similar agreement that
are not otherwise included in paragraph
107.13C(b), including:
(i) amounts related to recognised financial
instruments that do not meet some or all of
the offsetting criteria in paragraph 32.42;
and
(ii) amounts related to financial collateral
(including cash collateral); and
(e) the net amount after deducting the amounts in (d)
from the amounts in (c) above.
The information required by this paragraph shall be
presented in a tabular format, separately for financial
assets and financial liabilities, unless another format
is more appropriate.
14. 107.13D The total amount disclosed in accordance with
paragraph 107.13C(d) for an instrument shall be
limited to the amount in paragraph 107.13C(c) for
that instrument.
15. 107.13E A description in the disclosures of the rights of set-off
associated with the entity's recognised financial
assets and recognised financial liabilities subject to
enforceable master netting arrangements and similar
agreements that are disclosed in accordance with
paragraph 107.13C(d), including the nature of those
rights.
16. 107.13F If the information required by paragraphs 107.13B
107.13E is disclosed in more than one note to the
financial statements, cross-reference between those
notes.
Collateral
17. 107.14 Disclosure of:
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(a) the carrying amount of financial assets it has
pledged as collateral for liabilities or contingent
liabilities, including amounts that have been
reclassified in accordance with paragraph
109.3.2.23(a); and
(b) the terms and conditions relating to its pledge.
18. 107.15 In case an entity holds collateral (of financial or non-
financial assets) and is permitted to sell or repledge
the collateral in the absence of default by the owner
of the collateral, disclosure of:
(a) the fair value of the collateral held;
(b) the fair value of any such collateral sold or
repledged, and whether the entity has an
obligation to return it; and
(c) the terms and conditions associated with its use of
the collateral.
Allowance account for credit losses
19. 107.16A The carrying amount of financial assets measured at
fair value through other comprehensive income in
accordance with paragraph 109.4.1.2A is not reduced
by a loss allowance and an entity shall not present
the loss allowance separately in the balance sheet as
a reduction of the carrying amount of the financial
asset. However, disclosure of the loss allowance in
the notes to the financial statements.
Compound financial instruments with multiple
embedded derivatives
20. 107.17 In case an instrument is issued that contains both a
liability and an equity component (see paragraph
32.28) and the instrument has multiple embedded
derivatives whose values are interdependent (such
as a callable convertible debt instrument), disclosure
of the existence of those features.
Defaults and breaches
21. 107.18 For loans payable recognised at the end of the
reporting period, disclosure of:
(a) details of any defaults during the period of
principal, interest, sinking fund, or redemption
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terms of those loans payable;
(b) the carrying amount of the loans payable in
default at the end of the reporting period; and
(c) whether the default was remedied, or the terms of
the loans payable were renegotiated, before the
financial statements were approved for issue.
22. 107.19 If, during the period, there were breaches of loan
agreement terms other than those described in
paragraph 107.18, disclosure of the same information
as required by paragraph 107.18 if those breaches
permitted the lender to demand accelerated
repayment (unless the breaches were remedied, or
the terms of the loan were renegotiated, on or before
the end of the reporting period).
Statement of profit and loss
Items of income, expense, gains or losses
23. 107.20 Disclosure of items of income, expense, gains or
losses either in the statement of profit and loss or in
the notes:
(a) net gains or net losses on:
(i) financial assets or financial liabilities measured
at fair value through profit or loss, showing
separately those on financial assets or
financial liabilities designated as such upon
initial recognition or subsequently in
accordance with paragraph 109.6.7.1, and
those on financial assets or financial liabilities
that are mandatorily measured at fair value
through profit or loss in accordance with Ind
AS 109 (eg financial liabilities that meet the
definition of held for trading in Ind AS 109). For
financial liabilities designated as at fair value
through profit or loss, an entity shall show
separately the amount of gain or loss
recognised in other comprehensive income
and the amount recognised in profit or loss.
(ii) financial liabilities measured at amortised cost.
(iii) financial assets measured at amortised cost.
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(iv) investments in equity instruments designated
at fair value through other comprehensive
income in accordance with paragraph
109.5.7.5.
(v) financial assets measured at fair value
through other comprehensive income in
accordance with paragraph 109.4.1.2A,
showing separately the amount of gain or loss
recognised in other comprehensive income
during the period and the amount reclassified
upon derecognition from accumulated other
comprehensive income to profit or loss for the
period.
(b) Total interest revenue and total interest expense
(calculated using the effective interest method)
for financial assets that are measured at
amortised cost or that are measured at fair value
through other comprehensive income in
accordance with paragraph 109.4.1.2A (showing
these amounts separately); or financial liabilities
that are not measured at fair value through profit
or loss, and
(c) Fee income and expense (other than amounts
included in determining the effective interest rate)
arising from:
(i) Financial assets and financial liabilities that
are not at fair value through profit or loss, and
(ii) Trust and other fiduciary activities that result in
the holding or investing of assets on behalf of
individuals, trusts, retirement benefit plans,
and other institutions.
24. 107.20A Disclosure of an analysis of the gain or loss
recognised in the statement of profit and loss, arising
from the derecognition of financial assets measured
at amortised cost, showing separately gains and
losses arising from derecognition of those financial
assets along with the reasons for derecognition.
Other disclosures
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Accounting policies
25. 107.21 Disclosure of, in accordance with paragraph 1.117, in
and the summary of significant accounting policies, the
107.B5 measurement basis (or bases) used in preparing the
financial statements and the other accounting policies
used that are relevant to an understanding of the
financial statements.
For financial instruments, such disclosures may
include:
(a) For financial liabilities designated as at fair value
through profit or loss:
(i) The nature of the financial liabilities the
entity has designated as at fair value
through profit or loss,
(ii) The criteria for so designating such financial
liabilities on initial recognition, and
(iii) How the entity has satisfied the conditions in
paragraph 109.4.2.2 for such designation.
(b) For financial assets designated as measured at
fair value through profit or loss:
(i) The nature of the financial assets the entity
has designated as measured at fair value
through profit or loss, and
(ii) How the entity has satisfied the criteria in
paragraph 109.4.1.5 for such designation.
(c) Whether regular way purchases and sales of
financial assets are accounted for at trade date
or settlement date,
(d) How net gains and losses on each category of
financial instrument are determined, for example,
whether the net gains or net losses on items at
fair value through profit or loss include interest or
dividend income, and
The judgements, apart from those involving
estimations, that management has made in the
process of applying the entity's accounting
policies and that have the most significant effect
on the amounts recognised in the financial
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statements.
Hedge accounting
26. 107.21A Disclosure requirements in paragraphs 107.21B-
107.24F shall be applied for those risk exposures that
it hedges, and for which it elects to apply hedge
accounting.
Has the entity disclosed the following information
about:
(a) The entity's risk management strategy and how it
is applied to manage risk,
(b) How the entity's hedging activities may affect the
amount, timing and uncertainty of its future cash
flows, and
(c) The effect that hedge accounting has had on the
entity's balance sheet, statement of profit and
loss and statement of changes in equity.
27. 107.21B To ensure that all the relevant disclosures have been
presented in a single note or separate section in its
financial statements, or if not, has the information
located elsewhere been adequately cross-referenced
from the financial statements to some other
statement, such as a management commentary or
risk report, that is available to users of the financial
statements on the same terms as the financial
statements and at the same time.
28. 107.21D To meet the objectives in paragraph 107.21A, entity
shall (except as otherwise specified below) determine
how much detail to disclose, how much emphasis to
place on different aspects of the disclosure
requirements, the appropriate level of aggregation or
disaggregation, and whether users of financial
statements need additional explanations to evaluate
the quantitative information disclosed.
It shall be ensured the same level of aggregation /
disaggregation in the disclosure as it has in for
related information between this standard and Ind AS
113, Fair Value Measurement.
The risk management strategy
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29. 107.22A Explanation of risk management strategy for each
risk category of risk exposures that has been hedge
and for which hedge accounting is applied, such that
users are able to evaluate:
a) How each risk arises,
b) How the entity manages risk, including whether
the entity hedges an item in its entirety for all
risks or hedges a risk component (or
components) of an item and why, and
c) The extent of risk exposures being managed.
30. 107.22B To meet the requirement in paragraph 107.22A, a
description of information:
(a) The hedging instruments that are used (and how
they are used) to hedge risk exposures,
(b) How the entity determined the economic
relationship between the hedged item and the
hedging instrument for the purpose of assessing
hedge effectiveness, and
(c) How the entity had established the hedge ratio
and what the sources of hedge ineffectiveness
are.
31. 107.22C In addition to disclosure required in paragraphs
107.22A-107.22B, qualitative or quantitative
information about the following, when a specific risk
component is designated as a hedged item:
(a) How the entity determined the risk component
that is designated as the hedged item (including
a description of the nature of the relationship
between the risk component and the item as a
whole), and
(b) How the risk component relates to the item in its
entirety (for example, the designated risk
component historically covered on average 80
per cent of the changes in fair value of the item
as a whole).
The amount, timing and uncertainty of future
cash flows
32. 107.23A Disclosure, by risk category, quantitative information
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107..23 to allow users of financial statements to evaluate the
B terms and conditions of hedging instruments and how
they affect the amount, timing and uncertainty of
future cash flows of the entity:
To meet the above requirements the entity is required
to provide a breakdown that disclosures:
(a) A profile of the timing of the nominal amount of
the hedging instrument, and
(b) If applicable, the average price or rate (for
example strike or forward prices, etc.) of the
hedging instrument.
33. 107.23C In situations where entity frequently resets its
hedging relationships because both the hedging
instrument and the hedged item frequently change
(i.e. the entity uses a dynamic process in which both
the exposure and the hedging instruments used to
manage that exposure do not remain the same for
long) then, entity
a) is exempt from providing the disclosure required
by paragraph 107.23A and 107.23B
b) has to disclose:
(i) Information about what the ultimate risk
management strategy is in relation to those
hedging relationships
(ii) A description of how it reflects its risk
management strategy by using hedge
accounting and designating those particular
hedging relationships, and
(iii) An indication of how frequently the hedging
relationships are discontinued and restarted
as part of the entity's process in relation to
those hedging relationships.
34. 107.23D Disclosure by risk category a description of the
sources of hedge ineffectiveness that are expected to
affect the hedging relationship during its term.
35. 107.23E If other sources of hedge ineffectiveness emerge in a
hedging relationship, disclosure of those sources by
risk category and explained the resulting hedge
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ineffectiveness.
36. 107.23F For cash flow hedges, disclosure of a description of
an forecast transaction for which hedge accounting
had been used in the previous period, but which is no
longer expected to occur for cash flow hedges.
The effects of hedge accounting on financial
position and performance
37. 107.24A Disclosure of, in a tabular format, the following
amounts related to items designated as hedging
instruments separately by risk category for each type
of hedge (fair value hedge, cash flow hedge or hedge
of a net investment in a foreign operation):
(a) The carrying amount of the hedging instruments
(financial assets separately from financial
liabilities),
(b) The line item in the balance sheet that includes
the hedging instrument,
(c) The change in fair value of the hedging
instrument used as the basis for recognising
hedge ineffectiveness for the period, and
(d) The nominal amounts (including quantities such
as tonnes or cubic metres) of the hedging
instruments.
38. 107.24B Disclosure of, in a tabular format, the following
amount related to hedged items separately by risk
category for each type of hedge as follows:
(a) For fair value hedges:
(i) The carrying amount of the hedged item
recognised in the balance sheet (presenting
assets separately from liabilities),
(ii) The accumulated amount of fair value
hedge adjustments on the hedged item
included in the carrying amount of the
hedged item recognised in the balance
sheet (presenting assets separately from
liabilities),
(iii) The line item in the balance sheet that
includes the hedged item,
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(iv) The change in value of the hedged item
used as the basis for recognising hedge
ineffectiveness for the period, and
(v) The accumulated amount of fair value
hedge adjustments remaining in the balance
sheet for any hedged items that have
ceased to be adjusted for hedging gains and
losses in accordance with paragraph
109.6.5.10.
(b) For cash flow hedges and hedges of a net
investment in a foreign operation:
(i) The change in value of the hedged item
used as the basis for recognising hedge
ineffectiveness for the period (i.e. for cash
flow hedges the change in value used to
determine the recognised hedge
ineffectiveness in accordance with
paragraph 109.6.5.11(c)),
(ii) The balances in the cash flow hedge
reserve and the foreign currency translation
reserve for continuing hedges that are
accounted for in accordance with
paragraphs 109.6.5.11 and 109.6.5.13(a),
and
(iii) The balances remaining in the cash flow
hedge reserve and the foreign currency
translation reserve from any hedging
relationships for which hedge accounting is
no longer applied.
39. 107.24C Disclosure of in a tabular format, the following
amounts separately by risk category for the types of
hedges:
a) For fair value hedges:
i) Hedge ineffectiveness, and
ii) The line item in the statement of profit and loss
that includes the recognised hedge
ineffectiveness.
b) For cash flow hedges and hedges of a net
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investment in a foreign operation:
i) Hedging gains or losses of the reporting period
that were recognised in other comprehensive
income,
ii) Hedge ineffectiveness recognised in profit or
loss,
iii) The line item in the statement of profit and loss
that includes the recognised hedge
ineffectiveness,
iv) The amount reclassified from the cash flow
hedge reserve or the foreign currency
translation reserve into profit or loss as a
reclassification adjustment (see Ind AS 1)
(differentiating between amounts for which
hedge accounting had previously been used,
but for which the hedged future cash flows are
no longer expected to occur, and amounts that
have been transferred because the hedged
item has affected profit or loss),
v) The line item in the statement of profit and loss
that includes the reclassification adjustment
(see Ind AS 1), and
vi) For hedges of net positions, the hedging gains
or losses recognised in a separate line item in
the statement of profit and loss (see paragraph
109.6.6.4)
40. 107.24D Disclosure of the fact and the reason, if the entity
believes that the volume of hedging relationships to
exemption in paragraph 107.23C applies, is
unrepresentative of normal volumes during the period
(i.e. the volume at the reporting date does not reflect
the volumes during the period).
41. 107.24E A reconciliation of each component of equity and an
analysis of other comprehensive income in
accordance with Ind AS 1 that, taken together:
(a) differentiates, at a minimum, between the
amounts that relate to the disclosures in
paragraph 107.24C(b)(i) and 107.24C(b)(iv) as
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well as the amounts accounted for in accordance
with paragraph 109.6.5.11(d)(i) and
109.6.5.11(d)(iii),
differentiates between the amounts associated
with the time value of options that hedge
transaction related hedged items and the
amounts associated with the time value of
options that hedge time-period related hedged
items when an entity accounts for the time value
of an option in accordance with paragraph
109.6.5.15, and
(b) differentiates between the amounts associated
with forward elements of forward contracts and
the foreign currency basis spreads of financial
instruments that hedge transaction related
hedged items, and the amounts associated with
forward elements of forward contracts and the
foreign currency basis spreads of financial
instruments that hedge time-period related
hedged items when an entity accounts for those
amounts in accordance with paragraph
109.6.5.16.
42. 107.24F Disclosure of the information required in paragraph
107.24E separately by risk category. Disaggregation
by risk may be provided in notes to financial
statements.
Option to designate a credit exposure as measured
at fair value through profit or loss
43. 107.24 Disclosure of the following, if the entity has
G designated a financial instrument, or a proportion of
it, as measured at fair value through profit or loss
because it uses a credit derivative to manage the
credit risk of that financial instrument:
(a) For credit derivatives that have been used to
manage the credit risk of financial instruments
designated as measured at fair value through
profit or loss in accordance with paragraph
109.6.7.1, a reconciliation of each of the nominal
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amount and the fair value at the beginning and at
the end of the period,
(b) The gain or loss recognised in profit or loss on
designation of a financial instrument, or a
proportion of it, as measured at fair value through
profit or loss in accordance with paragraph
109.6.7.1, and
(c) On discontinuation of measuring a financial
instrument, or a proportion of it, at fair value
through profit or loss, that financial instrument's
fair value that has become the new carrying
amount in accordance with paragraph
109.6.7.4(b) and the related nominal or principal
amount.
Fair Value
44. 107.25 Except as set out in paragraph 107.29, for each class
of financial assets and financial liabilities (see
paragraph 107.6), disclosure of the fair value of that
class of assets and liabilities in a way that permits it
to be compared with its carrying amount.
45. 107.26 While disclosing fair values, grouped financial assets
and financial liabilities into classes and ensured that it
offsets them only to the extent that their carrying
amounts are offset in the balance sheet.
46. 107.28 Disclosure of the following by class of financial asset
and or financial liability, if the entity does not recognise a
107.29 gain or loss on initial recognition of a financial asset
or financial liability because the fair value is neither
evidenced by a quoted price in an active market for
an identical asset or liability (i.e. a Level 1 input) nor
based on a valuation technique that uses only data
from observable markets (see paragraph
109.B5.1.2A):
(a) the accounting policy for recognising in profit or
loss the difference between the fair value at initial
recognition and the transaction price to reflect a
change in factors (including time) that market
participants would take into account when pricing
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the asset or liability (see paragraph
109.B5.1.2A(b)),
(b) the aggregate difference yet to be recognised in
profit or loss at the beginning and end of the
period and a reconciliation of changes in the
balance of this difference, and
(c) why the entity concluded that the transaction
price was not the best evidence of fair value,
including a description of the evidence that
supports the fair value?
(Note: Disclosures of fair value are not required when
the carrying amount is a reasonable approximation of
fair value, (for example, for financial instruments such
as short-term trade receivables or payables); or for a
contract containing a discretionary participation
feature (as described in Ind AS 104) if the fair value
of that feature cannot b measured reliably.)
47. 107.30 Disclosure of the following information for a contract
containing a discretionary participation feature (as
described in Ind AS 104) if the fair value of that
feature cannot be measured reliably to help users of
the financial statements make their own judgements
about the extent of possible differences between the
carrying amount of those contracts and their fair
value:
(a) the fact that fair value information has not been
disclosed for these instruments because their fair
value cannot be measured reliably,
(b) a description of the financial instruments, their
carrying amount, and an explanation of why fair
value cannot be measured reliably,
(c) information about the market for the instruments,
(d) information about whether and how the entity
intends to dispose of the financial instruments,
and
(e) if financial instruments whose fair value
previously could not be reliably measured are
derecognised, that fact, their carrying amount at
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the time, of derecognition, and the amount of
gain or loss recognised.
Nature and extent of risks arising from financial
instruments
48. 107.31- Disclosure of information that enables users of its
107.32A financial statements to evaluate the nature and extent
of risks arising from financial instruments to which the
entity is exposed at the end of the reporting period.
(Note: These risks typically include, but are not
limited to, market risk, liquidity risk and credit risk.
Qualitative disclosures should be provided in the
context of quantitative disclosures to enable users to
link related disclosures and form an overall picture of
the nature and extent of risks arising from financial
instruments. The interaction between qualitative and
quantitative disclosures contributes to disclosure of
information in a way that better enables users to
evaluate an entity's exposure to risks.)
Qualitative disclosures
49. 107.33 Disclosure of the following qualitative disclosures for
each type of risk (credit risk, liquidity risk and market
risk) arising from financial instruments:
(a) the exposures to risk and how they arise,
(b) its objectives, policies and processes for
managing the risk and the methods used to
measure the risk, and
(c) any changes in (a) or (b) from the previous
period.
Quantitative disclosures
50. 107.34 Disclosure of the following quantitative disclosures for
each type of risk (credit risk, liquidity risk and market
risk) arising from financial instruments:
(a) summary quantitative data about its exposure to
that risk at the end of the reporting period. This
disclosure shall be based on the information
provided internally to key management personnel
of the entity (as defined in Ind AS 24, Related
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Party Disclosures), for example the entity's board
of directors or chief executive officer,
(b) the disclosures required by paragraphs 107.36-
107.42, to the extent not provided in (a) above,
and
(c) concentrations of risk if not apparent from the
disclosures made in accordance with (a) and (b)
which shall include:
i) a description of how management
determines concentrations;
ii) a description of the shared characteristic
that identifies each concentration (eg
counterparty, geographical area, currency or
market); and
(d) the amount of the risk exposure associated with
all financial instruments sharing that
characteristic
51. 107.35 If the quantitative data disclosed as at the end of the
reporting period are unrepresentative of the entity's
exposure to risk during the period, further information
that is representative shall be provided.
52. 107.35B Disclosure of the following with the objective of
enabling users of financial statements to understand
the effect of credit risk on the amount, timing and
uncertainty of future cash flows:
(a) information about the entity's credit risk
management practices and how they relate to
the recognition and measurement of expected
credit losses, including the methods,
assumptions and information used to measure
expected credit losses,
(b) quantitative and qualitative information that
allows users of financial statements to evaluate
the amounts in the financial statements arising
from expected credit losses, including changes in
the amount of expected credit losses and the
reasons for those changes, and
(c) information about the entity's credit risk exposure
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(i.e. the credit risk inherent in an entity's financial
assets and commitments to extend credit)
including significant credit risk concentrations?
(Note: If the above information is disclosed
elsewhere, it needs to be adequately cross-
referenced.)
Credit risk if impairment applicable
53. 107.35A Disclosures under paragraphs 107.35F-107.35N is
required to be provided for financial instruments to
which the impairment requirements in Ind AS 109 are
applied.
54. 107.35F Explanation of credit risk management practices and
how they relate to the recognition and measurement
of expected credit losses. To meet this objective,
disclosure of following information to enable users of
financial statements to understand and evaluate:
(a) how the entity determined whether the credit risk
of financial instruments has increased
significantly since initial recognition, including, if
and how:
(i) financial instruments are considered to have
low credit risk in accordance with paragraph
109.5.5.10, including the classes of financial
instruments to which it applies, and
(ii) the presumption in paragraph 109.5.5.11, that
there have been significant increases in credit
risk since initial recognition when financial
assets are more than 30 days past due, has
been rebutted,
(b) the entity's definitions of default, including the
reasons for selecting those definitions, which
may include:
i) the qualitative and quantitative factors
considered in defining default;
ii) whether different definitions have been
applied to different types of financial
instruments; and
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iii) assumptions about the cure rate (ie the
number of financial assets that return to a
performing status) after a default occurred
on the financial asset
(c) how the instruments were grouped if expected
credit losses were measured on a collective
basis,
(d) how an entity determined that financial assets
are credit-impaired financial assets,
(e) the entity's write-off policy, including the
indicators that there is no reasonable expectation
of recovery and information about the policy for
financial assets that are written-off but are still
subject to enforcement activity, and
(f) how the requirements in paragraph 109.5.5.12
for the modification of contractual cash flows of
financial assets have been applied, including
how the entity:
i) determines whether the credit risk on a
financial asset that has been modified while
the loss allowance was measured at an
amount equal to lifetime expected credit
losses, has improved to the extent that the
loss allowance reverts to being measured at
an amount equal to 12-month expected credit
losses in accordance with paragraph
109.5.5.5, and
ii) monitors the extent to which the loss
allowance on financial assets meeting the
criteria in (i) is subsequently re - measured at
an amount equal to lifetime expected credit
losses in accordance with paragraph
109.5.5.3.
55. 107.35 Disclosure of the following to explain the inputs
G assumptions and estimation techniques used to apply
the requirements in section 5.5 of Ind AS 109:
(a) the basis of inputs and assumptions and the
estimation techniques used to:
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(i) measure the 12-month and lifetime expected
credit losses,
(ii) determine whether the credit risk of financial
instruments have increased significantly since
initial recognition, and
(iii) determine whether a financial asset is a
credit-impaired financial asset.
(b) how forward-looking information has been
incorporated into the determination of expected
credit losses, including the use of
macroeconomic information, and
(c) changes in the estimation techniques or
significant assumptions made during the
reporting period and the reasons for those
changes.
Quantitative and qualitative information about
amounts arising from expected credit losses
56. 107.35H A reconciliation by class of financial instrument from
opening balance to closing balance of the loss
allowance, in a tabular form showing separately the
changes during the period for:
(a) the loss allowance measured at an amount equal
to 12-month expected credit losses,
(b) the loss allowance measured at an amount equal
to lifetime expected credit losses for:
(i) financial instruments for which credit risk has
increased significantly since initial recognition
but that are not credit-impaired financial
assets,
(ii) financial assets that are credit-impaired at the
reporting date (but that are not purchased or
originated credit-impaired), and
(iii) trade receivables, contract assets or lease
receivables for which the loss allowances are
measured in accordance with paragraph
109.5.5.15
(c) financial assets that are purchased or originated
credit-impaired, including disclosure of the total
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amount of undiscounted expected credit losses
at initial recognition on financial assets initially
recognised during the reporting period.
57. 107.35I Disclosure of an explanation of how significant
changes in the gross carrying amount of financial
instruments contributed to changes in the loss
allowance for each class of financial instrument,
including relevant qualitative and quantitative
information provided separately for financial
instruments that represent the loss allowance as
disclosed in paragraph 107.35H(a)-(c). Examples of
changes in the gross carrying amount of financial
instruments that contributed to the changes in the
loss allowance may include:
(a) changes because of financial instruments
originated or acquired during the reporting
period,
(b) the modification of contractual cash flows on
financial assets that do not result in a
derecognition of those financial assets in
accordance with Ind AS 109,
(c) changes because of financial instruments that
were derecognised (including those that were
written-off) during the reporting period, and
(d) changes arising from whether the loss allowance
is measured at an amount equal to 12-month or
lifetime expected credit losses.
58. 107.35J Disclosure of the following with the objective of
enabling users of financial statements to understand
the nature and effect of modifications of contractual
cash flows on financial assets that have not resulted
in derecognition and the effect of such modifications
on the measurement of expected credit losses:
(a) the amortised cost before the modification and
the net modification gain or loss recognised for
financial assets for which the contractual cash
flows have been modified during the reporting
period while they had a loss allowance measured
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at an amount equal to lifetime expected credit
losses; and
(b) the gross carrying amount at the end of the
reporting period of financial assets that have
been modified since initial recognition at a time
when the loss allowance was measured at an
amount equal to lifetime expected credit losses
and for which the loss allowance has changed
during the reporting period to an amount equal to
12-month expected credit losses.
59. 107.35K Disclosure by class of financial instrument with
objective of enabling users of financial statements to
understand the effect of collateral and other credit
enhancements on the amounts arising from expected
credit losses:
(a) the amount that best represents its maximum
exposure to credit risk at the end of the reporting
period without taking account of any collateral
held or other credit enhancements (e.g. netting
agreements that do not qualify for offset in
accordance with Ind AS 32),
(b) a narrative description of collateral held as
security and other credit enhancements,
including:
(i) a description of the nature and quality of the
collateral held,
(ii) an explanation of any significant changes in
the quality of that collateral or credit
enhancements as a result of deterioration or
(iii) changes in the collateral policies of the entity
during the reporting period, and
(iv) information about financial instruments for
which an entity has not recognised a loss
allowance because of the collateral.
(c) quantitative information about the collateral held
as security and other credit enhancements (for
example, quantification of the extent to which
collateral and other credit enhancements mitigate
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credit risk) for financial assets that are credit-
impaired at the reporting date.
60. 107.35L Disclosure of the contractual amount outstanding on
financial assets that were written off during the
reporting period and are still subject to enforcement
activity.
Credit risk exposure
61. 107.35 Disclosure of, by credit risk rating grades, the gross
M- carrying amount of financial assets and the exposure
107.35N to credit risk on loan commitments and financial
guarantee contracts to enable users of financial
statements to assess the entity's credit risk exposure
and understand its significant credit risk
concentrations separately for the following financial
instruments:
(a) for which the loss allowance is measured at an
amount equal to 12-month expected credit
losses,
(b) for which the loss allowance is measured at an
amount equal to lifetime expected credit losses
(gross carrying amount of financial instruments to
be separately disclosed for which lifetime ECL
have been measured on a collective basis) and
that are:
(i) financial instruments for which credit risk has
increased significantly since initial recognition
but that are not credit-impaired financial
assets,
(ii) financial assets that are credit-impaired at the
reporting date (but that are not purchased or
originated credit-impaired), and
(iii) trade receivables, contract assets or lease
receivables for which the loss allowances are
measured in accordance with paragraph
109.5.5.15.
(c) that are purchased or originated credit-impaired
financial assets.
(Note: For trade receivables, contract assets and
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lease receivables to which an entity applies
paragraph 109.5.5.15, the information provided in
paragraph 107.35M may be based on a provision
matrix (see paragraph 109.B5.5.35.)
62. 107.36 Disclosure of the following by class of financial
instrument for all financial instruments within the
scope of Ind AS 107, but to which the impairment
requirements in Ind AS 109 are not applied:
(a) the amount that best represents its maximum
exposure to credit risk at the end of the reporting
period without taking account of any collateral
held or other credit enhancements (e.g. netting
agreements that do not qualify for offset in
accordance with Ind AS 32); this disclosure is not
required for financial instruments whose carrying
amount best represents the maximum exposure
to credit risk, and
(b) a description of collateral held as security and
other credit enhancements, and their financial
effect (e.g. quantification of the extent to which
collateral and other credit enhancements mitigate
credit risk) in respect of the amount that best
represents the maximum exposure to credit risk
(whether disclosed in accordance with (a) or
represented by the carrying amount of a financial
instrument).
Collateral and other credit enhancements obtained
63. 107.38 In case entity has obtained financial or non-financial
assets during the period by taking possession of
collateral it holds as security or calling on other credit
enhancements (e.g. guarantees), and such assets
meet the recognition criteria in other Ind AS,
disclosure of the following for such assets held at the
reporting date:
(a) The nature and carrying amount of the assets,
and
(b) When the assets are not readily convertible into
cash, its policies for disposing of such assets or
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for using them in its operations.
Liquidity risk
64. 107.39 Disclosure of the following with reference to the
liquidity risk of financial instruments:
(a) a maturity analysis for non-derivative financial
liabilities (including issued financial guarantee
contracts) that shows the remaining contractual
maturities,
(b) a maturity analysis for derivative financial
liabilities. The maturity analysis shall include the
remaining contractual maturities for those
derivative financial liabilities for which contractual
maturities are essential for an understanding of
the timing of the cash flows, and
(c) a description of how it manages the liquidity risk
inherent in (a) and (b) above.
Market risk
65. 107.41 Disclosure of the following, if the entity prepares a
sensitivity analysis, such as value-at-risk, that reflects
interdependencies between risk variables (e.g.
interest rates and exchange rates) and uses it to
manage financial risks:
(a) an explanation of the method used in preparing
such a sensitivity analysis, and of the main
parameters and assumptions underlying the data
provided, and
(b) an explanation of the objective of the method
used and of limitations that may result in the
information not fully reflecting the fair value of the
assets and liabilities involved.
66. 107.40 Disclosure of the following, in case entity does not
prepare a sensitivity analysis as described in
paragraph 107.41:
(a) a sensitivity analysis for each type of market risk
to which the entity is exposed at the end of the
reporting period, showing how profit or loss and
equity would have been affected by changes in
the relevant risk variable that were reasonably
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possible at that date,
(b) the methods and assumptions used in preparing
the sensitivity analysis, and
(c) changes from the previous period in the methods
and assumptions used, and the reasons for such
changes.
67. 107.42 In case entity believes that the sensitivity analyses
disclosed in accordance with paragraphs 107.40 or
107.41 are unrepresentative of a risk inherent in a
financial instrument (for example because the year-
end exposure does not reflect the exposure during
the year), disclosure of that fact and the reason to
believes that the sensitivity analyses are
unrepresentative.
Transfer of financial assets
68. 107.42A Presentation, in a single note in the financial
statements, the disclosures required by paragraphs
107.42B-107.42H for all transferred financial assets
that are not derecognised and for any continuing
involvement in a transferred asset, existing at
reporting date, irrespective of when the related
transferred transaction occurred.
(Note: For the purpose of disclosure requirements in
paragraphs 107.42B-107.42H, the entity transfers all
or a part of a financial asset (the transferred financial
asset) in accordance with Ind AS 109 if, and only if, it
either:
(a) transfers the contractual rights to receive the
cash flows of that financial asset; or
(b) retains the contractual rights to receive the cash
flows of that financial asset, but assumes a
contractual obligation to pay the cash flows to
one or more recipients in an arrangement.)
69. 107.42B Disclosure of information to enable the users:
(a) to understand the relationship between
transferred financial assets that are not
derecognised in their entirety and the associated
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liabilities, and
(b) to evaluate the nature of, and risks associated
with, the entity's continuing involvement in
derecognised financial assets.
Transferred financial assets that are not
derecognised in their entirety
70. 107.42D In case of financial assets satisfying the criteria in
paragraph 107.42B(a), disclosure at each reporting
date for each class of transferred financial assets that
are not derecognised in their entirety:
(a) the nature of the transferred assets,
(b) the nature of the risks and rewards of ownership
to which the entity is exposed,
(c) a description of the nature of the relationship
between the transferred assets and the
associated liabilities, including restrictions arising
from the transfer on the reporting entity's use of
the transferred assets,
(d) when the counterparty (counterparties) to the
associated liabilities has (have) recourse only to
the transferred assets, a schedule that sets out
the fair value of the transferred assets, the fair
value of the associated liabilities and the net
position (the difference between the fair value of
the transferred assets and the associated
liabilities),
(e) when the entity continues to recognise all of the
transferred assets, the carrying amounts of the
transferred assets and the associated liabilities,
and
(f) when the entity continues to recognise the assets
to the extent of its continuing involvement (see
paragraphs 109.3.2.6(c)(ii) and 109.3.2.16), the
total carrying amount of the original assets
before the transfer, the carrying amount of the
assets that the entity continues to recognise, and
the carrying amount of the associated liabilities.
Transferred financial assets that are derecognised in
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their entirety
71. 107.42E In case entity derecognises transferred financial
- assets in their entirety (see paragraph 3.2.6(a) and
107.42F (c)(i) of Ind AS 109) but has continuing involvement
in them, disclosure of the following, as a minimum,
for each type of continuing involvement at each
reporting date:
(a) the carrying amount of the assets and liabilities
that are recognised in the entity's balance sheet
and represent the entity's continuing involvement
in the derecognised financial assets, and the line
items in which the carrying amount of those
assets and liabilities are recognised,
(b) the fair value of the assets and liabilities that
represent the entity's continuing involvement in
the derecognised financial assets,
(c) the amount that best represents the entity's
maximum exposure to loss from its continuing
involvement in the derecognised financial assets,
and information showing how the maximum
exposure to loss is determined,
(d) the undiscounted cash outflow that would or may
be required to repurchase derecognised financial
assets (e.g. the strike price in an option
agreement) or other amounts payable to the
transferee in respect of the transferred assets. If
the cash outflow is variable then the amount
disclosed should be based on the conditions that
exist at each reporting date,
(e) a maturity analysis of the undiscounted cash
outflows that would or may be required to
repurchase the derecognised financial assets or
other amounts payable to the transferee in
respect of the transferred assets, showing the
remaining contractual maturities of the entity's
continuing involvement, and
(f) qualitative information that explains and supports
the quantitative disclosures required in (a)(e).
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(Note: The entity may aggregate the information
required as above in respect of a particular asset if
the entity has more than one type of continuing
involvement in that derecognised financial asset, and
report it under one type of continuing involvement.)
72. 107.42 Disclosure of the following for each type of continuing
G involvement for each period for which the statement
of profit and loss is presented:
(a) the gain or loss recognised at the date of transfer
of the assets,
(b) income and expenses recognised, both in the
reporting period and cumulatively, from the
entity's continuing involvement in the
derecognised financial assets (e.g. fair value
changes in derivative instruments),
(c) if the total amount of proceeds from transfer
activity (that qualifies for derecognition) in a
reporting period is not evenly distributed
throughout the reporting period (e.g. if a
substantial proportion of the total amount of
transfer activity takes place in the closing days of
a reporting period):
(i) when the greatest transfer activity took
place within that reporting period (e.g. the
last five days before the end of the reporting
period),
(ii) the amount (e.g. related gains or losses)
recognised from transfer activity in that part
of the reporting period, and
(iii) the total amount of proceeds from transfer
activity in that part of the reporting period.
Supplementary information
73. 107.42H Disclosures of additional information which the entity
considers necessary to meet the objectives of
paragraph 107.42B.
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Ind AS 108, Operating Segments
SN Paragr Disclosure Yes No NA
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1. 108.20 Disclosure of information to enable users of financial
statements to evaluate the nature and financial
effects of the business activities in which the entity
engages and the economic environments in which it
operates.
2. 108.21 Disclosure of the following general information:
108.22 (a) factors used to identify the entity's reportable
segments, including the basis of organisation
e.g. whether management has chosen to
organise the entity around differences in
products and services, geographical areas,
regulatory environments, or a combination of
factors and whether operating segments have
been aggregated,
(b) the judgement made by management in
applying the aggregation criteria in paragraph
108.12. This includes a brief description of the
operating segments that have been aggregated
in this way and the economic indicators that
have been assessed in determining that the
aggregated operating segments share similar
economic characteristics, and
(c) types of products and services from which each
reportable segment derives its revenues
(Note: Reconciliations of the amounts in the balance
sheet for reportable segments to the amounts in the
entity's balance sheet are required for each date at
which a balance sheet is presented. Information for
prior periods shall be restated as described in
paragraphs 108.29 and 108.30)
Information about profit or loss, assets and liabilities
3. 108.23 Disclosure of the following:
(a) the measure of profit or loss for each
reportable segment,
(b) the measure of total assets and liabilities for
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each reportable segment if such amounts are
regularly provided to the chief operating
decision maker,
(c) the following about each reportable segment if
the specified amounts are included in the
measure of segment profit or loss reviewed by
the chief operating decision maker, or are
otherwise regularly provided to the chief
operating decision maker, even if not included
in that measure of segment profit or loss:
(i) revenues from external customers,
(ii) revenues from transactions with other
operating segment of the same entity,
(iii) interest revenue,
(iv) interest expense,
(v) depreciation and amortisation,
(vi) material items of income and expense
disclosed in accordance with paragraph
1.97,
(vii) the entity's interest in the profit or loss of
associates and joint ventures accounted for
by the equity method,
(viii) income tax expense or income, and
(ix) material non-cash items other than
depreciation and amortisation
(Note: Interest revenue should be reported
separately from interest expense for each
reportable segment unless a majority of the
segment's revenues are from interest and the chief
operating decision maker relies primarily on net
interest revenue to assess the performance of the
segment and make decisions about resources to
be allocated to the segment. In that situation, the
entity may report that segment's interest revenue
net of its interest expense and disclose that it has
done so.)
4. 108.24 Disclosure of the following about each reportable
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segment if the specified amounts are included in the
measure of segment assets reviewed by the chief
operating decision maker or are otherwise regularly
provided to the chief operating decision maker, even
if not included in the measure of segment assets:
(a) the amount of investment in associates and
joint ventures accounted for by the equity
method, and
(b) the amounts of additions to non-current assets
(for assets classified according to a liquidity
presentation, amounts expected to be
recovered more than 12 months after the
reporting date) other than financial
instruments, deferred tax assets, post-
employment benefit assets and rights arising
under insurance contracts
5. 108.27 An explanation of the measurements of segment
profit or loss, segment assets and segment liabilities
for each reportable segment. Disclosure of the
following:
(a) the basis of accounting for any transactions
between reportable segments,
(b) The nature of any differences between the
measurements of the reportable segments'
profits or losses and the entity's profit or loss
before income tax expense or income and
discontinued operations (if not apparent from
the reconciliations described in paragraph
108.28), those differences could include
accounting policies and policies for allocation
of centrally incurred costs that are necessary
for an understanding of the reported segment
information,
the nature of any differences between the
measurements of the reportable segments'
assets and the entity's assets (if not apparent
from the reconciliations described in paragraph
108.28), those differences could include
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accounting policies and policies for allocation
of jointly used assets that are necessary for an
understanding of the reported segment
information,
(c) The nature of any differences between the
measurements of the reportable segments'
liabilities and the entity's liabilities (if not
apparent from the reconciliations described in
paragraph 108.28),Those differences could
include accounting policies and policies for
allocation of jointly utilised liabilities that are
necessary for an understanding of the reported
segment information,
(d) The nature of any changes from prior periods
in the measurement methods used to
determine reported segment profit or loss and
the effect, if any, of those changes on the
measure of segment profit or loss, and
(e) The nature and effect of any asymmetrical
allocations to reportable segments, e.g. the
entity might allocate depreciation expense to a
segment without allocating the related
depreciable assets to that segment.
Reconciliations
6. 108.28 Reconciliations of the following providing material
reconciling items separately identified and described:
(a) the total of the reportable segments' revenues
to the entity's revenue,
(b) the total of the reportable segments' measures
of profit or loss to the entity's profit or loss
before tax expense (tax income) and
discontinued operations, however, if the entity
allocated to reportable segments items such as
tax expense (tax income), then it may reconcile
the total of the segments' measures of profit or
loss to the entity's profit or loss after those
items,
(c) the total of the reportable segments' assets to
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the entity's assets if the segment assets are
reported in accordance with paragraph 108.23,
(d) the total of the reportable segments' liabilities
to the entity's liabilities if segment liabilities are
reported in accordance with paragraph 108.23,
and
(e) the total of the reportable segments' amounts
for every other material item of information
disclosed to the corresponding amount for the
entity.
7. 108.29 In case entity changed the structure of its internal
organisation in a manner that causes the composition
of its reportable segments to change:
(a) corresponding information for earlier periods,
including interim periods been restated unless
the information is not available and the cost to
develop it would be excessive, and
(Note: The determination of whether the information
is not available and the cost to develop it would be
excessive shall be made for each individual item of
disclosure.)
(b) disclosure of whether it has restated the
corresponding items of segment information for
earlier periods.
8. 108.30 (a) If the entity has changed the structure of its
internal organisation in a manner that causes
the composition of its reportable segments to
change, has the entity restated segment
information for earlier periods, including interim
periods, to reflect the change?
(b) If not, then in the year in which the change
occurs, disclosure of segment information for
the current period on both the old basis and
the new basis of segmentation, unless the
necessary information is not available and the
cost to develop it would be excessive.
Entity-wide disclosures
9. 108.31 Entity-wide disclosures as required even if the entity
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has only one reportable segment.
(Note: Information required by paragraphs 108.32-
108.34 is provided only if it is not provided as part of
the reportable segment information required by Ind
AS 108.)
10. 108.32 Disclosure of the following:
(a) the revenues from external customers for each
product and service, or each group of similar
products and services
(b) if the necessary information is not available
and the cost to develop it would be excessive,
this fact in the financial statements?
(Note: The amounts of revenues reported are
based on the financial information used to produce
the entity's financial statements.)
11. 108.33 Disclosure of the following geographical information,
unless the necessary information is not available and
the cost to develop it would be excessive:
(a) revenues from external customers:
(i) attributed to the entity's country of domicile,
and
(ii) attributed to all foreign countries in total from
which the entity derives revenues. If
revenues from external customers attributed
to an individual foreign country are material,
then those revenues are disclosed
separately. Disclose the basis for attributing
revenues from external customers to
individual countries,
(b) non-current assets (for assets classified
according to a liquidity presentation, amounts
expected to be recovered more than 12 months
after the reporting date) other than financial
instruments, deferred tax assets, post-
employment benefit assets and rights arising
under insurance contracts:
(i) located in the entity's country of domicile,
and
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(ii) located in all foreign countries in total in
which the entity holds assets. If assets in an
individual foreign country are material, then
those assets are disclosed separately.
12. 108.33 a) entity shall ensure that the amounts reported are
based on the financial information that is used to
produce the entity's financial statements,
b) if the necessary information is not available and
the cost to develop it would be excessive, has
the entity disclosed such fact?
(Note: The entity may disclose, in addition to this
information, subtotals of geographical information
about groups of countries.)
Information about major customers
13. 108.34 If revenues from transactions with a single external
customer amount to 10 per cent or more of an entity's
revenues, following information about the extent of its
reliance on such customers:
(a) disclosure of that fact,
(b) the total amount of revenues from each such
customer, and the identity of the segment or
segments reporting the revenues,
(Note: The entity need not disclose the identity of a
major customer or the amount of revenues that
each segment reports from that customer.)
(c) for the above purpose, has a group of entities
known to a reporting entity to be under common
control been considered a single customer.
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Ind AS 112, Disclosure of Interests in Other Entities
Disclosures requirement for Ind AS 110, Ind AS 111, Ind AS 27 and Ind AS 28
are laid down in this Standard.
SN Paragr Disclosure Ye N N
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1. 112.2 Disclosure of the following:
(a) the significant judgements and assumptions
made by an entity in determining:
(i) The nature of its interest in another entity or
arrangement.
(ii) The type of joint arrangement in which it has
an interest,
(iii) That it meets the definition of an investment
entity, if applicable,
(b) information about entity's interests in:
(i) Subsidiaries,
(ii) Arrangements and associates, and
(iii) Structured entities that are not controlled
by the entity (unconsolidated structured
entities)
2. 112.5 This Ind AS is applied if the entity has an interest in
any of the following:
a) Subsidiaries
b) Joint arrangements (Joint operations or
ventures)
c) Associates
d) Unconsolidated structured entities.
3. 112.5A Except as described in paragraph 112.B17, the
requirements in this Ind AS apply to an entity's
interests listed in paragraph 112.5 that are classified
(or included in a disposal group that is classified) as
held for sale or discontinued operations in
accordance with Ind AS 105, Noncurrent Assets Held
for Sale and Discontinued Operations.
4. 112.7 Disclosure of information about significant judgments
and assumptions made by an entity (and changes to
those judgments an assumptions) in determining:
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(a) that it has control of another entity, i.e. an
investee as described in paragraphs 110.5 and
110.6,
(b) that it has joint control of an arrangement or
significant influence over another entity, and
(c) the type of joint arrangement (i.e. joint operation
or joint venture) when the arrangement has been
structured through a separate vehicle.
5. 112.9 To address the disclosure required by paragraph
112.7, disclosures of significant judgments and
assumptions made in determining that:
(a) it does not control another entity even though it
holds more than half of the voting rights of the
other entity,
(b) it controls another entity even though it holds
less than half of the voting rights of the other
entity,
(c) it is an agent or a principal,
(d) it does not have significant influence even
though it holds 20 per cent or more of the voting
rights of another entity, or
(e) it has significant influence even though it holds
less than 20 per cent of the voting rights of
another entity.
6. 112.9A Where the parent entity determines that it is an
investment entity, disclosure of information by
investments entity:
a) about significant judgments and assumptions
made in determining that it is an investment
entity in accordance with paragraph 110.27,
b) about reasons for concluding that it is
nevertheless an investment entity, if the entity
does not have one or more of the typical
characteristics of an investment entity in
paragraph 110.28.
7. 112.9B In case entity becomes, or ceases to be, investment
entity, disclosure of
a) change of investment entity status and
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b) the reasons for the change, and
In case entity becomes an investment entity,
disclosure of the effect of the change of status on the
financial statements for the period presented
including:
(a) the total fair value, as of the date of change of
status, of the subsidiaries that cease to be
consolidated,
(b) the gain or loss, if any, calculated in accordance
with paragraph 110.B101, and
(c) the line item(s) in profit or loss in which the gain
or loss is recognised.
Interests in subsidiaries
8. 112.10 Disclosures of information that enables users of
consolidated financial statements to understand the
composition of the group and the interest that non-
controlling interests have in the group's activities and
cash flows (see paragraph 112.12) :
(a) to understand:
(i) the composition of the group and
(ii) the interest that non-controlling interests have
in the group's activities and cash flows (see
paragraph 112.12).
(b) to evaluate:
(i) the nature and extent of significant restrictions
on its ability to access or use assets, and settle
liabilities, of the group (see paragraph 112.13);
(ii) the nature of, and changes in, the risks
associated with its interests in consolidated
structured entities (see paragraphs 112.14
112.17);
(iii) the consequences of changes in its ownership
interest in a subsidiary that do not result in a
loss of control (see paragraph 112.18); and
(iv) the consequences of losing control of a
subsidiary during the reporting period (see
paragraph 112.19).
9. 112.11 In case financial statements of a subsidiary used in
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the preparation of consolidated financial statements
are as of a date or for a period that is different from
that of the consolidated financial statements,
disclosure of:
a) the date of the end of the reporting period of the
financial statements of that subsidiary and
b) reason for using the different date or period.
10. 112.12 Disclosure for each of its subsidiaries that have non-
controlling interests that are material to the reporting
entity:
(a) the name of subsidiary
(b) principal place of business (and country of
incorporation if different from principal place of
business) of subsidiary,
(c) the proportion of ownership interests held by non
controlling interests,
(d) the proportion of voting rights held by non
controlling interests, if different from the
proportion of ownership interests held
(e) the profit or loss allocated to non-controlling
interests of the subsidiary during the reporting
period,
(f) accumulated non-controlling interests of the
subsidiary at the end of the reporting period, and
(g) summarised financial information about the
subsidiary (see paragraph 112.B10)
11. 112.B1 For each subsidiary that has non-controlling interests
0- that are material to the reporting entity, disclosure of:
112.B1 (a) dividends paid to non-controlling interests, and
1 (b) summarised financial information about the
assets, liabilities, profit or loss and cash flows of
the subsidiary that enables users to understand
the interest that non-controlling interests have in
the group's activities and cash flows. That
information might include but is not limited to, for
example, current assets, non-current assets,
current liabilities, non-current liabilities, revenue,
profit or loss and total comprehensive income.
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(Note: The summarised financial information required
by B10(b) shall be the amounts before inter-company
eliminations.)
Nature and extent of significant restrictions
12. 112.13 Disclosure of the following:
(a) significant restrictions on its ability to access or
use the assets and settle the liabilities of the
group, including:
(i) whether that restricts the ability of a parent or
its subsidiaries to transfer cash or other
assets to (or from) other entities within the
group disclosed, and
(ii) the guarantees or other requirements that
may restrict dividends and other capital
distributions being paid, or loans and
advances being made or repaid, to (or from)
other entities within the group,
(b) the nature and extent to which protective rights of
non-controlling interests can significantly restrict
the entity's ability to access or use the assets
and settle the liabilities of the group
(c) the carrying amounts in the consolidated
financial statements of the assets and liabilities
to which above restrictions apply.
13. 112.14 Disclosure of the terms of any contractual
arrangements that could require the parent or its
subsidiaries to provide financial support to a
consolidated structured entity, including events or
circumstances that could expose the reporting entity
to a loss.
14. 112.15 In case, during the reporting period, a parent or any
of its subsidiaries has, without having a contractual
obligation to do so, provided financial or other
support to a consolidated structured entity, disclosure
of:
(a) the type and amount of support provided,
including situations in which the parent or its
subsidiaries assisted the structured entity in
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obtaining financial support, and
(b) reasons for the same.
15. 112.16 In case, during the reporting period, a parent or any
of its subsidiaries has, without having a contractual
obligation to do so, provided financial or other
support to a previously unconsolidated structured
entity and that provision of support resulted in the
entity controlling the structured entity, disclosure of
an explanation of the relevant factors in reaching that
decision.
16. 112.17 Has the entity disclosed any current intentions to
provide financial or other support to a consolidated
structured entity, including intentions to assist the
structured entity in obtaining financial support?
17. 112.18 Presentation of a schedule that shows the effects on
the equity attributable to owners of the parent of any
changes in its ownership interest in a subsidiary that
do not result in a loss of control.
18. 112.19 Disclosure of gain or loss, if any, calculated in
accordance with paragraph 110.25, and:
(a) the portion of gain or loss attributable to
measuring any investment retained in the former
subsidiary at its fair value at the date when
control is lost, and
(b) the line item(s) in profit or loss in which the gain
or loss is recognised.
Interests in unconsolidated subsidiaries (investment
entities)
19. 112.19 In case entity is required, in accordance with Ind AS
A 110, to apply the exception to consolidation and
instead accounted for its investment in a subsidiary at
fair value through profit or loss, disclosure of the fact.
20. 112.19 For each unconsolidated subsidiary, disclosure by an
B investment entity:
(a) subsidiary's name,
(b) the principal place of business of subsidiary (and
country of incorporation if different from the
principal place of business) of the subsidiary, and
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(c) the proportion of ownership interest held by the
investment entity and, if different, the proportion
of voting rights held.
21. 112.19 In case an investment entity is the parent of another
C investment entity, disclosures by the parent in
paragraph 112.19B(a)(c) for investments that are
controlled by its investment entity subsidiary. The
disclosure may be provided by including, in the
financial statements of the parent, the financial
statements of the subsidiary (or subsidiaries) that
contain the above information.
22. 112.19 Disclosure by investment entity:
D (a) the nature and extent of any significant
restrictions on the ability of an unconsolidated
subsidiary to transfer funds to the investment
entity in the form of cash dividends or to repay
loans or advances made to the unconsolidated
subsidiary by the investment entity, and
(b) any current commitments or intentions to provide
financial or other support to an unconsolidated
subsidiary, including commitments or intentions
to assist the subsidiary in obtaining financial
support.
23. 112.19 In case, during the reporting period, an investment
E entity or any of its subsidiaries has, without having a
contractual obligation to do so, provided financial or
other support to an unconsolidated subsidiary (eg
purchasing assets of, or instruments issued by, the
subsidiary or assisting the subsidiary in obtaining
financial support), disclosure of:
(a) the type and amount of support provided to each
unconsolidated subsidiary, and
(b) the reasons for providing the support.
24. 112.19 Disclosure by an investment entity the terms of any
F contractual arrangements that could require the entity
or its unconsolidated subsidiaries to provide financial
support to an unconsolidated, controlled, structured
entity, including events or circumstances that could
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expose the reporting entity to a loss.
25. 112.19 In case, during the reporting period, an investment
G entity or any of its unconsolidated subsidiaries has,
without having a contractual obligation to do so,
provided financial or other support to an
unconsolidated, structured entity that the investment
entity did not control, and if that provision of support
resulted in the investment entity controlling the
structured entity, disclosure of an explanation of the
relevant factors in reaching the decision to provide
that support.
Interests in joint arrangements and associates
26. 112.20 Disclosure of information that enables users of its
financial statements to evaluate:
(a) the nature, extent and financial effects of its
interests in joint arrangements and associates,
including the nature and effects of its contractual
relationship with the other investors with joint
control of, or significant influence over, joint
arrangements and associates, and
(b) the nature of, and changes in, the risks
associated with its interests in joint ventures and
associates.
Interests in joint arrangements and associates
27. 112.21 Disclosure of:
(a) for each joint arrangement and associate that is
material to the reporting entity:
i) the name of the joint arrangement or
associate,
ii) the nature of the entity's relationship with
the joint arrangement or associate,
iii) the principal place of business of the joint
arrangement or associate, and
iv) the proportion of ownership interest or
participating share held by the entity and, if
different, the proportion of voting rights
held?
(b) for each joint venture and associate that is
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material to the reporting entity:
i) whether the investment in the joint venture
or associate is measured using the equity
method or at fair value,
ii) summarised financial information about the
joint venture or associate as specified in
paragraphs 112.B12 and 112.B13, and
iii) if the joint venture or associate is accounted
for using the equity method, the fair value of
its investment in the joint venture or
associate, if there is a quoted market price
for the investment.
(c) financial information as specified in paragraph
112.B16 about the entity's investments in joint
ventures and associates that are not individually
material:
(i) in aggregate for all individually immaterial
joint ventures, ,and
in aggregate for all individually immaterial
associates.
28. 112.21 An investment entity need not provide the
A disclosures required by paragraphs 112.21(b)-
112.21(c).
29. 112.B1 For each joint venture and associate that is material
2 to the reporting entity, disclosure of:
(a) dividends received from the joint venture or
associate,
(b) summarised financial information for the joint
venture or associate including, but not
necessarily limited to:
i) Current assets,
ii) Non-current assets,
iii) Current liabilities,
iv) Non-current liabilities,
v) Revenue,
vi) Profit or loss from continuing operations,
vii) Post-tax profit or loss from discontinued
operations,
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viii) Other comprehensive income, and
ix) Total comprehensive income.
30. 112.B1 In addition to the summarised financial information
3 required by paragraph 112.B12, disclosure, for each
joint venture that is material to the reporting entity,
the amount of:
(a) cash and cash equivalents included in
paragraph 112.B12(b)(i),
(b) current financial liabilities (excluding trade
and other payables and provisions) included
in paragraph 112.B12(b)(iii),
(c) non-current financial liabilities (excluding
trade and other payables and provisions)
included in paragraph 112.B12(b)(iv),
(d) depreciation and amortisation,
(e) interest income,
(f) interest expense, and
(g) income tax
(h) expense or income.
31. 112.B1 The summarised financial information presented in
4 accordance with paragraphs 112.B12 and 112.B13
shall be the amounts included in the Ind AS financial
statements of the joint venture or associate (and not
the entity's share of those amounts). If the entity
accounts for its interest in the joint venture or
associate using the equity method, disclosure of:
(a) the amounts included in the Ind AS financial
statements of the joint venture or associate,
adjusted to reflect adjustments made by the
entity when using the equity method, such as fair
value adjustments made at the time of
acquisition and adjustments for differences in
accounting policies, and
(b) a reconciliation of the summarised financial
information presented to the carrying amount of
its interest in the joint venture or associate.
32. 112.B1 Presentation of the summarised financial information
5 required by paragraphs 112.B12 and 112.B13 on the
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basis of the joint venture's or associate's financial
statements only if:
a) the entity measures its interest in the joint
venture or associate at fair value in
accordance with Ind AS 28, Investments in
Associates and Joint Ventures, and
b) the joint venture or associate does not prepare
Ind AS financial statements and preparation on
that basis would be impracticable or cause
undue cost.
33. 112.B1 Disclosure of the basis on which the summarised
5 financial information has been prepared.
34. 112.B1 Disclosure of, in aggregate, the carrying amount of its
6 interests in all individually immaterial joint ventures or
associates that are accounted for using the equity
method.
35. 112.B1 Disclosure separately of the aggregate amount of its
6 share of those joint ventures' or associates':
a) profit or loss from continuing operations,
b) post-tax profit or loss from discontinued
operations,
c) other comprehensive income, and
d) total comprehensive income.
36. 112.B1 In case, entity's interests in subsidiary, joint venture
7 or associate, (or a portion of its interest in a joint
venture or an associate) is classified (or included in a
disposal group that is classified) as held for sale in
accordance with Ind AS 105, Non-current Assets
Held for Sale and Discontinued Operations,
disclosure of the summarised financial information is
not required for that subsidiary, joint venture or
associate in accordance with paragraphs 112.B10
112.B16.
37. 112.22 Disclosure of:
(a) the nature and extent of any significant
restrictions (e.g. resulting from borrowing
arrangements, regulatory requirements or
contractual arrangements between investors with
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joint control of or significant influence over a joint
venture or an associate) on the ability of joint
ventures or associates to transfer funds to the
entity in the form of cash dividends, or to repay
loans or advances made by the entity,
(b) when the financial statements of a joint venture
or associate used in applying the equity method
are as of a date or for a period that is different
from that of the entity
(i) the date of the end of the reporting period of
the financial statements of that joint venture
or associate, and
(ii) the reason for using a different date or period,
(c) the unrecognised share of losses of a joint
venture or associate, both for the reporting
period and cumulatively, if the entity has stopped
recognising its share of losses of the joint
venture or associate when applying the equity
method.
Risks associated with an entity's interests in
joint ventures and associates
38. 112.23 Disclosure of the following information:
a) commitments that it has relating to its joint
ventures separately from the amount of other
commitments, and
b) contingent liabilities incurred relating to its
interests in joint ventures or associates
separately from the amount of other contingent
liabilities.
39. 112.B1 Disclose of total commitments entity has made but
8 not recognised at the reporting date (including its
share of commitments made jointly with other
investors with joint control of a joint venture) relating
to its interests in joint ventures. Commitments are
those that may give rise to a future outflow of cash
or other resources.
Interest in unconsolidated structured entities
40. 112.24 Disclosure of the following information that enables
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users of financial statements:
(a) to understand the nature and extent of entity's
interests in unconsolidated structured entities,
(b) to evaluate the nature of, and changes in, the
risks associated with its interests in
unconsolidated structured entities, and
41. 112.25 The information required by paragraph 112.24(b)
includes information about an entity's exposure to
risk from involvement that it had with unconsolidated
structured entities in previous periods (eg
sponsoring the structured entity), even if the entity
no longer has any contractual involvement with the
structured entity at the reporting date.
42. 112.25 An investment entity need not provide the
A disclosures required by paragraph 112.24 for an
unconsolidated structured entity that it controls and
for which it presents the disclosures required by
paragraphs 112.19A112.19G.
43. 112.26 Disclosure of:
- (a) qualitative and quantitative information about its
112.27 interests in unconsolidated structured entities,
including, but not limited to, the nature, purpose,
size and activities of the structured entity and
how the structured entity is financed, and
(b) if the entity has sponsored an unconsolidated
structured entity for which it does not provide
information required:
(i) how it has determined which structured
entities it has sponsored,
(ii) income from those structured entities
during the reporting period, including a
description of the types of income
presented (to be presented in tabular
format preferably), and
(iii) the carrying amount (at the time of
transfer) of all assets transferred to those
structured entities during the reporting
period (to be presented in tabular format
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preferably).
Nature of Risk
44. 112.29 Disclosure of the following (to be presented in
tabular format preferably):
a) the carrying amounts of the assets and liabilities
recognised in its financial statements relating to
its interests in unconsolidated structured
entities,
b) the line items in the balance sheet in which
those assets and liabilities are recognised,
c) the amount that best represents the entity's
maximum exposure to loss from its interests in
unconsolidated structured entities, including:
i. how the maximum exposure to loss is
determined, and
ii. if an entity cannot quantify its maximum
exposure to loss from its interests in
unconsolidated structured entities, that
fact and the reasons.
d) a comparison of the carrying amounts of the
assets and liabilities of the entity that relate to
its interests in unconsolidated structured entities
and the entity's maximum exposure to loss from
those entities.
45. 112.30 If during the reporting period an entity has, without
having a contractual obligation to do so, provided
financial or other support to an unconsolidated
structured entity in which it previously had or
currently has an interest (for example, purchasing
assets of or instruments issued by the structured
entity), disclosure of:
a) the type and amount of support provided,
including situations in which the entity assisted
the structured entity in obtaining financial
support; and
b) the reasons for providing the support.
46. 112.31 Disclosure of any current intentions to provide
financial or other support to an unconsolidated
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structured entity, including intentions to assist the
structured entity in obtaining financial support.
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Ind AS 113, Fair Value Measurements
SN Parag Disclosure Yes No NA
o. raph
Refer
ence
1. 113.9 Disclosure of the following:
1 a) for assets and liabilities that are measured at fair
value on a recurring or non-recurring basis in the
balance sheet after initial recognition, the
valuation techniques and inputs used to develop
those measurements, and
b) for recurring fair value measurements using
significant unobservable inputs (Level 3), the
effect of the measurements on profit or loss or
other comprehensive income for the period.
2. 113.9 Disclosure of, at a minimum, the following information
3 for each class of assets and liabilities measured at fair
value in the balance sheet after initial recognition:
a) for recurring and non-recurring fair value
measurements, the fair value measurement at
the end of the reporting period, and for non-
recurring fair value measurements, the reason
for the measurement,
b) for recurring and non-recurring fair value
measurements, the level of the fair value
hierarchy (Level 1, 2, or 3),
c) if there are any transfers between level 1 and
level 2 of the hierarchy, the reasons for those
transfers,
d) a description of the valuation technique (s) and
the inputs used in the fair value measurement
for the items categorised within Level 2 and
Level 3 of the hierarchy,
e) if there has been change in the valuation
technique, that change and the reasons for
making it,
f) for fair value measurements categorised within
Level 3 of the fair value hierarchy, quantitative
information about the significant unobservable
inputs,
g) for recurring fair value measurements
categorised within Level 3 of the fair value
hierarchy, a reconciliation from the opening
balances to the closing balances, disclosing
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o. raph
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ence
separately changes during the period
attributable to the following:
i) total gains and losses for the period
recognised in profit or loss and the line
items in profit or loss in which those gains,
ii) total gains and losses for the period
recognised in other comprehensive income,
and the line items in other comprehensive
income in which those gains or losses are
recognized,
iii) purchases, sales, issues and settlements,
and
h) the amounts of any transfers into or out of Level
3 of the fair value hierarchy, the reasons for
those transfers and the entity's policy for
determining when transfers between levels are
deemed to have occurred,
i) for recurring fair value measurements
categorized within Level 3, the amount of
gains or losses for the period included in
profit or loss that are attributable to the
change in unrealised gains or losses
relating to those assets and liabilities,
ii) a description of valuation processes used
by the entity for recurring and non-recurring
fair value measurements categorized within
Level 3 of the fair value hierarchy,
i) for recurring fair value measurements
categorised within Level 3 of the fair value
hierarchy:
i) a narrative description of the sensitivity of the
fair value measurement to changes in
unobservable inputs, and
ii) for financial assets and liabilities, if changing
one or more of the unobservable inputs to
reflect reasonably possible alternative
assumptions would change the fair value
significantly, that fact and effect of those
changes,
iii) for recurring and non-recurring fair value
measurements, if the highest and the best
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o. raph
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ence
use differs from the current use, the reasons
as to why it is used in such manner.
3. 113.9 Determination of the appropriate classes of assets and
4 liabilities based on the following:
a) the nature, characteristics and risks of the asset or
liability, and
b) the level of the fair value hierarchy within which the
fair value measurement is categorised.
4. 113.9 Disclose and consistently followed policy for
5 determining the transfers between levels in the fair
value hierarchy that are deemed to have occurred.
5. 113.9 If an entity has made an accounting policy decision to
6 use the exception in paragraph 113.48, has it
disclosed the same.
6. 113.9 Disclosure of the information required by paragraph
7 113.93(b)-(d) for each class of assets and liabilities not
measured at fair value but for which the fair value is
disclosed.
7. 113.9 In case entity has issued a liability with inseparable
8 third-party credit enhancement and measured the
same at fair value, disclosure of the existence of that
credit enhancement and whether it is reflected in the
fair value measurement of the liability.
8. 113.9 Presentation of the quantitative disclosures required
9 by Ind AS 113 in a tabular format unless other format
is more appropriate.
Income approach
9. 113.B a) Disclosure of fair value by using which of of the
11 following techniques:
i) Present value techniques,
ii) Option pricing models, or
iii) Multi-period excess earnings method.
b) If not, is the valuation technique used by the entity
appropriate and relevant.
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Ind AS 114, Regulatory Deferral Accounts
SN Paragr Disclosure Yes No NA
o. aph
Refere
nce
1. 114.27 In case entity elects to apply this Standard,
disclosure of the information that enables users to
assess:
(a) the nature of, and the risks associated with, the
rate regulation that establishes the price(s) that
the entity can charge customers for the goods or
services it provides; and
(b) the effects of that rate regulation on its financial
position, financial performance and cash flows.
2. 114.28 If any of the disclosures set out in paragraphs
114.30114.36 are not considered relevant to meet
the objective in paragraph 114.27, they may be
omitted from the financial statements. If the
disclosures provided in accordance with paragraphs
114.30114.36 are insufficient to meet the objective
in paragraph 114.27, disclosure of additional
information that is necessary to meet that objective.
3. 114.29 To meet the disclosure objective in paragraph
114.27, an entity shall consider all of the following:
(a) the level of detail that is necessary to satisfy the
disclosure requirements;
(b) how much emphasis to place on each of the
various requirements
(c) how much aggregation or disaggregation to
undertake; and
(d) whether users of financial statements need
additional information to evaluate the quantitative
information disclosed.
Explanation of activities subject to rate regulation
4. 114.30 To help a user of the financial statements assess the
nature of, and the risks associated with, the entity's
rate-regulated activities, for each type of rate-
regulated activity, disclosure of:
(a) a brief description of the nature and extent of the
rate-regulated activity and the nature of the
regulatory rate-setting process;
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nce
(b) the identity of the rate regulator(s). If the rate
regulator is a related party (as defined in Ind AS
24, Related Party Disclosures), the entity shall
disclose that fact, together with an explanation of
how it is related;
(c) how the future recovery of each class (ie each
type of cost or income) of regulatory deferral
account debit balance or reversal of each class of
regulatory deferral account credit balance is
affected by risks and uncertainty, for example:
(i) demand risk (for example, changes in
consumer attitudes, the availability of alternative
sources of supply or the level of competition);
(ii) regulatory risk (for example, the submission
and approval of a rate-setting application or the
entity's assessment of the expected future
regulatory actions); and
(ii) other risks (for example, currency or other
market risks).
5. 114.31 The disclosures required by paragraph 114.30 shall
be given in the financial statements either directly in
the notes or incorporated by cross-reference from the
financial statements to some other statement, such
as a management commentary or risk report, that is
available to users of the financial statements on the
same terms as the financial statements and at the
same time. If the information is not included in the
financial statements directly or incorporated by cross-
reference, the financial statements are incomplete.
Explanation of recognised amounts
6. 114.32 Disclosure of the basis on which regulatory deferral
account balances are recognised and derecognised,
and how they are measured initially and
subsequently, including how regulatory deferral
account balances are assessed for recoverability and
how any impairment loss is allocated.
7. 114.33 For each type of rate-regulated activity, disclosure of
the following information for each class of regulatory
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o. aph
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nce
deferral account balance:
(a) a reconciliation of the carrying amount at the
beginning and the end of the period, in a table
unless another format is more appropriate. The
entity shall apply judgement in deciding the level
of detail necessary (see paragraphs 114.28
114.29), but the following components would
usually be relevant:
(i) the amounts that have been recognised in the
current period in the balance sheet as
regulatory deferral account balances;
(ii) the amounts that have been recognised in the
statement of profit and loss relating to
balances that have been recovered
(sometimes described as amortised) or
reversed in the current period; and
(iii) other amounts, separately identified, that
affected the regulatory deferral account
balances, such as impairments, items acquired
or assumed in a business combination, items
disposed of, or the effects of changes in
foreign exchange rates or discount rates;
(b) the rate of return or discount rate (including a zero
rate or a range of rates, when applicable) used to
reflect the time value of money that is applicable
to each class of regulatory deferral account
balance; and
(c) the remaining periods over which the entity
expects to recover (or amortise) the carrying
amount of each class of regulatory deferral
account debit balance or to reverse each class of
regulatory deferral account credit balance.
8. 114.34 When rate regulation affect the amount and timing of
an entity's income tax expense (income), disclosure
of the impact of the rate regulation on the amounts of
current and deferred tax recognised. In addition, the
entity shall separately disclose any regulatory
deferral account balance that relates to taxation and
156
SN Paragr Disclosure Yes No NA
o. aph
Refere
nce
the related movement in that balance.
9. 114.35 When an entity provides disclosures in accordance
with Ind AS 112 Disclosure of Interests in Other
Entities, for an interest in a subsidiary, associate or
joint venture that has rate-regulated activities and for
which regulatory deferral account balances are
recognised in accordance with this Standard,
disclosure of the amounts that are included for the
regulatory deferral account debit and credit balances
and the net movement in those balances for the
interests disclosed (see paragraphs 114.B25
114.B28).
10. 114.B2 If the entity chooses to include the regulatory deferral
2 account balances and movements in those balances
that are related to the disposal group or discontinued
operation within the related regulated deferral
account line items, it may be necessary to disclose
them separately as part of the analysis of the
regulatory deferral account line items described by
paragraph 114.33.
11. 114.B2 Disclosure is required by paragraph 112.12(e) for
5 each of its subsidiaries that have non-controlling
interests that are material to the reporting entity, the
profit or loss that was allocated to non-controlling
interests of the subsidiary during the reporting period.
In case an entity that recognises regulatory deferral
account balances in accordance with this Standard,
disclosure of the net movement in regulatory deferral
account balances that is included within the amounts
that are required to be disclosed by paragraph Ind AS
112.12(e).
12. 114.B2 In addition to the information specified in paragraphs
7 112.12, 112.21, 112.B10, 112.B12112.B13 and
112.B16, in case entity recognises regulatory deferral
account balances in accordance with this Standard,
disclosure of
i. the total regulatory deferral account debit
balance,
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nce
ii. the total regulatory deferral account credit
balance and
iii. the net movements in those balances, split
between amounts recognised in profit or loss and
amounts recognised as other comprehensive
income, for each entity for which those Ind AS
112 disclosures are required.
13. 114.B2 Paragraph 112.19 specifies the information that an
8 entity is required to disclose when the entity
recognises a gain or loss on losing control of a
subsidiary, calculated in accordance with paragraph
110.25. In addition to the information required by
paragraph 112.19, in case an entity that elects to
apply this Standard, disclosure of the portion of that
gain or loss that is attributable to derecognising
regulatory deferral account balances in the former
subsidiary at the date when control is lost.
14. 114.36 When an entity concludes that a regulatory deferral
account balance is no longer fully recoverable or
reversible, disclosure of that fact, the reason why it is
not recoverable or reversible and the amount by
which the regulatory deferral account balance has
been reduced.
158
Ind AS 115, Revenue from Contracts with Customers
SN Paragra Disclosure Yes No NA
o. ph
Referen
ce
1. 115.107 If an entity performs by transferring goods or
services to a customer before the customer pays
consideration or before payment is due, the entity
shall present the contract as a contract asset,
excluding any amounts presented as a receivable. A
contract asset is an entity's right to consideration in
exchange for goods or services that the entity has
transferred to a customer. An entity shall assess a
contract asset for impairment in accordance with Ind
AS 109. An impairment of a contract asset shall be
measured, presented and disclosed on the same
basis as a financial asset that is within the scope of
Ind AS 109 (see also paragraph 115.113(b)).
2. 115.110 Disclosure of qualitative and quantitative information
about all of the following:
(a) its contracts with customers (see paragraphs
115.113115.122);
(b) the significant judgements, and changes in the
judgements, made in applying this Standard to
those contracts (see paragraphs 115.123
115.126); and
(c) any assets recognised from the costs to obtain
or fulfil a contract with a customer in
accordance with paragraph 115.91 or 115.95
(see paragraphs 115.127115.128).
3. 115.113 Disclosure of all of the following amounts for the
reporting period unless those amounts are
presented separately in the statement of profit and
loss in accordance with other Standards:
(a) revenue recognised from contracts with
customers, which the entity shall disclose
separately from its other sources of revenue;
and
(b) any impairment losses recognised (in
accordance with Ind AS 109) on any
receivables or contract assets arising from an
159
SN Paragra Disclosure Yes No NA
o. ph
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ce
entity's contracts with customers, which the
entity shall disclose separately from impairment
losses from other contracts.
Disaggregation of revenue
4. 115.114 An entity shall disaggregate revenue recognised
from contracts with customers into categories that
depict how the nature, amount, timing and
uncertainty of revenue and cash flows are affected
by economic factors. An entity shall apply the
guidance in paragraphs 115.B87115.B89 when
selecting the categories to use to disaggregate
revenue.
5. 115.115 In addition, disclosure of sufficient information to
enable users of financial statements to understand
the relationship between the disclosure of
disaggregated revenue (in accordance with
paragraph 115.114) and revenue information that is
disclosed for each reportable segment, if the entity
applies Ind AS 108, Operating Segments.
6. 115.116 Disclosure of all of the following:
(a) the opening and closing balances of
receivables, contract assets and contract
liabilities from contracts with customers, if not
otherwise separately presented or disclosed;
(b) revenue recognised in the reporting period that
was included in the contract liability balance at
the beginning of the period; and
(c) revenue recognised in the reporting period from
performance obligations satisfied (or partially
satisfied) in previous periods (for example,
changes in transaction price).
Performance obligations
7. 115.119 Disclosure of information about entity's performance
obligations in contracts with customers, including a
description of all of the following:
(a) when the entity typically satisfies its
performance obligations (for example, upon
shipment, upon delivery, as services are
160
SN Paragra Disclosure Yes No NA
o. ph
Referen
ce
rendered or upon completion of service),
including when performance obligations are
satisfied in a bill-and-hold arrangement;
(b) the significant payment terms (for example,
when payment is typically due, whether the
contract has a significant financing component,
whether the consideration amount is variable
and whether the estimate of variable
consideration is typically constrained in
accordance with paragraphs 115.56115.58);
(c) the nature of the goods or services that the
entity has promised to transfer, highlighting any
performance obligations to arrange for another
party to transfer goods or services (ie if the
entity is acting as an agent);
(d) obligations for returns, refunds and other similar
obligations; and
(e) types of warranties and related obligations.
Transaction price allocated to the remaining
performance obligations
8. 115.120 Disclosure of the following information about entity's
remaining performance obligations:
(a) the aggregate amount of the transaction price
allocated to the performance obligations that
are unsatisfied (or partially unsatisfied) as of the
end of the reporting period; and
(b) an explanation of when the entity expects to
recognise as revenue the amount disclosed in
accordance with paragraph 120(a), which the
entity shall disclose in either of the following
ways:
in a quantitative basis using the time bands
that would be most appropriate for the
duration of the remaining performance
obligations; or
(i) (ii) by using qualitative information.
9. 115.121 An entity need not disclose the information in
paragraph 115.120 for a performance obligation if
161
SN Paragra Disclosure Yes No NA
o. ph
Referen
ce
either of the following conditions is met:
(a) the performance obligation is part of a contract
that has an original expected duration of one
year or less; or
(b) the entity recognises revenue from the
satisfaction of the performance obligation in
accordance with paragraph 115.B16.
Significant judgements in the application of this
Standard
10. 115.123 Disclosure of the judgements, and changes in the
judgements, made in applying this Standard that
significantly affect the determination of the amount
and timing of revenue from contracts with
customers. In particular, an entity shall explain the
judgements, and changes in the judgements, used
in determining both of the following:
(a) the timing of satisfaction of performance
obligations (see paragraphs 115.124115.125);
and
(b) the transaction price and the amounts allocated
to performance obligations (see paragraph
115.126).
Determining the timing of satisfaction of
performance obligations
11. 115.124 For performance obligations that an entity satisfies
over time, disclosure of both of the following:
(a) the methods used to recognise revenue (for
example, a description of the output methods or
input methods used and how those methods are
applied); and
(b) an explanation of why the methods used
provide a faithful depiction of the transfer of
goods or services.
12. 115.125 For performance obligations satisfied at a point in
time, disclosure of the significant judgements made
in evaluating when a customer obtains control of
promised goods or services.
Determining the transaction price and the
162
SN Paragra Disclosure Yes No NA
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ce
amounts allocated to performance obligations
13. 115.126 Disclosure of information about the methods, inputs
and assumptions used for all of the following:
(a) determining the transaction price, which
includes, but is not limited to, estimating
variable consideration, adjusting the
consideration for the effects of the time value of
money and measuring non-cash consideration;
(b) assessing whether an estimate of variable
consideration is constrained;
(c) allocating the transaction price, including
estimating stand-alone selling prices of
promised goods or services and allocating
discounts and variable consideration to a
specific part of the contract (if applicable); and
(d) measuring obligations for returns, refunds and
other similar obligations.
Assets recognised from the costs to obtain or
fulfil a contract with a customer
14. 115.127 An entity shall describe both of the following:
(a) the judgements made in determining the
amount of the costs incurred to obtain or fulfil a
contract with a customer (in accordance with
paragraph 115.91 or 115.95); and
(b) the method it uses to determine the
amortisation for each reporting period.
15. 115.128 Disclosure of all of the following:
(a) the closing balances of assets recognised from
the costs incurred to obtain or fulfil a contract
with a customer (in accordance with paragraph
115.91 or 115.95), by main category of asset
(for example, costs to obtain contracts with
customers, pre-contract costs and setup costs);
and
(b) the amount of amortisation and any impairment
losses recognised in the reporting period.
Practical expedients
16. 115.129 If the practical expedient is elected in paragraph
163
SN Paragra Disclosure Yes No NA
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ce
115.63 (about the existence of a significant
financing component) or paragraph 115.94 (about
the incremental costs of obtaining a contract),
disclosure of that fact.
17. 115.C6 For any of the practical expedients in paragraph
115.C5 that an entity uses, it shall apply that
expedient consistently to all contracts within all
reporting periods presented. In addition, it shall
disclose all of the following information:
(a) the expedients that have been used; and
(b) to the extent reasonably possible, a qualitative
assessment of the estimated effect of applying
each of those expedients.
18. 115.C7 An entity applying this Standard retrospectively in
A accordance with paragraph 115.C3(b) may also
use the practical expedient described in
paragraph 115.C5(c), either:
(a) for all contract modifications that occur before
the beginning of the earliest period presented;
or
(b) for all contract modifications that occur before
the date of initial application.
If an entity uses this practical expedient, the entity
shall apply the expedient consistently to all contracts
and disclose the information required by paragraph
115.C6.
19. 115.C8 For reporting periods that include the date of initial
application, an entity shall provide both of the
following additional disclosures if this Standard is
applied retrospectively in accordance with
paragraph C3(b):
(a) the amount by which each financial statement
line item is affected in the current reporting
period by the application of this Standard as
compared to Ind AS 11 and Ind AS 18; and
(b) an explanation of the reasons for significant
changes identified in C8(a).
20. 115.E6 All aspects of a service concession arrangement
164
SN Paragra Disclosure Yes No NA
o. ph
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ce
shall be considered in determining the appropriate
disclosures in the notes. Disclosure of the following
in each period by an operator and a grantor:
(a) a description of the arrangement;
(b) significant terms of the arrangement that may
affect the amount, timing and certainty of future
cash flows (eg the period of the concession, re-
pricing dates and the basis upon which re-
pricing or re-negotiation is determined);
(c) the nature and extent (eg quantity, time period
or amount as appropriate) of:
(i) obligations to acquire or build items of
property, plant and equipment
(ii) obligations to deliver or rights to receive
specified assets at the end of the
concession period;
(iii) renewal and termination options; and
(iv) other rights and obligations (eg major
overhauls);
(d) changes in the arrangement occurring during
the period; and
(e) how the service arrangement has been
classified.
Note: The disclosures required in
accordance with 115.E6 shall be provided
individually for each service concession
arrangement or in aggregate for each class
of service concession arrangements. A
class is a grouping of service concession
arrangements involving services of a
similar nature (eg toll collections,
telecommunications and water treatment
services). (paragraph 115.E7)
21. 115.E6 Disclosure by an operator of the amount of revenue
A and profits or losses recognized in the period on
exchanging construction services for a financial
asset or an intangible asset.
165
APPENDIX - A
Comparison of IFRS with Ind AS notified by the MCA (As of April,
2018)
S IFRS/ Indian Name
No. IAS Accounting
Standard
1. IAS 1 Ind AS 1 Presentation of Financial Statements
2. IAS 2 Ind AS 2 Inventories
3. IAS 7 Ind AS 7 Statement of Cash Flows
4. IAS 8 Ind AS 8 Accounting Policies, Changes in Accounting
Estimates and Errors
5. IAS 10 Ind AS 10 Events after the Reporting Period
6. IAS 12 Ind AS 12 Income Taxes
7. IAS 16 Ind AS 16 Property, Plant and Equipment
8. IAS 17 Ind AS 17 Leases
9. IAS 19 Ind AS 19 Employee Benefits
10. IAS 20 Ind AS 20 Accounting for Government Grants and
Disclosure of Government Assistance
11. IAS 21 Ind AS 21 The Effects of Changes in Foreign
Exchange Rates
12. IAS 23 Ind AS 23 Borrowing Costs
13. IAS 24 Ind AS 24 Related Party Disclosures
14. IAS 27 Ind AS 27 Separate Financial Statements
15. IAS 28 Ind AS 28 Investments in Associates and Joint
Ventures
16. IAS 29 Ind AS 29 Financial Reporting in Hyperinflationary
Economies
17. IAS 32 Ind AS 32 Financial Instruments: Presentation
18. IAS 33 Ind AS 33 Earnings per Share
19. IAS 34 Ind AS 34 Interim Financial Reporting
20. IAS 36 Ind AS 36 Impairment of Assets
21. IAS 37 Ind AS 37 Provisions, Contingent Liabilities and
Contingent Assets
22. IAS 38 Ind AS 38 Intangible Assets
166
S IFRS/ Indian Name
No. IAS Accounting
Standard
23. IAS 40 Ind AS 40 Investment Property
24. IAS 41 Ind AS 41 Agriculture
25. IFRS 1 Ind AS 101 First-time Adoption of Indian Accounting
Standards
26. IFRS 2 Ind AS 102 Share-based Payment
27. IFRS 3 Ind AS 103 Business Combinations
28. IFRS 4 Ind AS 104 Insurance Contracts
29. IFRS 5 Ind AS 105 Non-current Assets Held for Sale and
Discontinued Operations
30. IFRS 6 Ind AS 106 Exploration for and Evaluation of
Mineral Resources
31. IFRS 7 Ind AS 107 Financial Instruments: Disclosures
32. IFRS 8 Ind AS 108 Operating Segments
33. IFRS 9 Ind AS 109 Financial Instruments
34. IFRS Ind AS 110 Consolidated Financial Statements
10
35. IFRS Ind AS 111 Joint Arrangements
11
36. IFRS Ind AS 112 Disclosure of Interest in Other Entities
12
37. IFRS Ind AS 113 Fair Value Measurement
13
38. IFRS Ind AS 114 Regulatory Deferral Account
14
39. IFRS Ind AS 115 Revenue from Contracts with Customers
15
* Ind AS corresponding to IAS 26, Accounting and Reporting by Retirement
Benefit Plans, has not been issued as this standard is not applicable to
companies.
** Since India has decided to converge early with IFRS 9, Financial
Instruments. Accordingly, Ind AS 109, Financial Instruments, has been
issued and Ind AS 39, Financial Instruments: Recognition and
Measurement, has not been issued.
167
IFRS not yet effective
S IFRS/ Indian Title
No. IAS Accounting
Standard
1. IFRS Ind AS 116 Leases (Effective from April 01, 2019, will
16 replace Ind AS 17)
2. IFRS Ind AS 117 is Insurance Contracts, and will replace Ind
17 under AS 104)
formulation
IFRICs/SICs included in the corresponding Appendices to Ind AS (As
on April, 2018)
As per the scheme of formulation of Indian Accounting Standards, the
interpretations issued by the IASB, IFRIC and SIC be added as an appendix
with the relevant Ind AS.
S IFRIC Corresponding IFRIC/SIC
No. / SIC Appendix
No. included in Ind
AS
1. IFRIC Appendix A to Ind Changes in Existing
1 AS 16 Decommissioning, Restoration and
Similar Liabilities
2. IFRIC Appendix C to Ind Determining whether an
4 AS 17 Arrangement contains a Lease
3. IFRIC Appendix A to Ind Rights to Interests arising from
5 AS 37 Decommissioning, Restoration and
Environmental Rehabilitation Funds
4. IFRIC Appendix B to Ind Liabilities arising from Participating
6 AS 37 in a Specific Market --Waste
Electrical and Electronic Equipment
5. IFRIC Appendix A to Ind Applying the Restatement Approach
7 AS 29 under Ind AS 29 Financial Reporting
in Hyperinflationary Economies
6. IFRIC Appendix A to Ind Interim Financial Reporting and
10 AS 34 Impairment
168
S IFRIC Corresponding IFRIC/SIC
No. / SIC Appendix
No. included in Ind
AS
7. IFRIC Appendix D to Ind Service Concession Arrangements
12 AS 115
8. IFRIC Appendix B to Ind Ind AS 19 -- The Limit on a Defined
14 AS 19 Benefit Asset, Minimum Funding
Requirements and their Interaction
9. IFRIC Appendix C to Ind Hedges of a Net Investment in a
16 AS 109 Foreign Operation
10. IFRIC Appendix A to Ind Distributions of Non-cash Assets to
17 AS 10 Owners
11. IFRIC Appendix D to Ind Extinguishing Financial Liabilities
19 AS 109 with Equity Instruments
12. IFRIC Appendix B to Ind Stripping Cost in the Production
20 AS 16 Phase of a Surface Mine
13. IFRIC Appendix C to Ind Levies
21 AS 37
14. IFRIC Appendix B to Ind Foreign Currency Transactions and
22 AS 21 Advance Consideration (Effective
from 1 April, 2018)
15. SIC- Appendix A to Ind Government Assistance --No
10 AS 20 Specific Relation to Operating
Activities
16. SIC- Appendix A to Ind Operating Leases --Incentives
15 AS 17
17. SIC- Appendix A to Ind Income Taxes --Changes in the Tax
25 AS 12 Status of an Entity or its
Shareholders
18. SIC- Appendix B to Ind Evaluating the Substance of
27 AS 17 Transactions Involving the Legal
Form of a Lease
19. SIC- Appendix E to Ind Service Concession Arrangements:
29 AS 115 Disclosures
20. SIC- Appendix A to Ind Intangible Assets --Web Site Costs
169
S IFRIC Corresponding IFRIC/SIC
No. / SIC Appendix
No. included in Ind
AS
32 AS 38
*
Appendix corresponding to IFRIC 2, Member's Shares in Co-operative
Entities and Similar Liabilities Instruments, is not issued as it is not relevant
for the companies.
** Appendix corresponding to SIC 7, Introduction of Euro, is not issued as it is
not relevant in the Indian context.
IFRICs/SICs included in the corresponding Appendices to Ind AS
not yet effective
S IFRIC Corresponding IFRIC/SIC
No. / SIC Appendix
No. included in Ind
AS
1. IFRIC Under formulation Uncertainty over Income Tax
23 (As an Appendix Treatments (Effective from 1 January
to Ind AS 12) 2019)
170
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