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CA Final Ind AS 27 — Separate Financial Statements: Scope, Cost vs Ind AS 109, Dividends, Reorganisation, IAS 27 Carve-out — practice questions
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Practice CA Final Ind AS 27 — Separate Financial Statements: Scope, Cost vs Ind AS 109, Dividends, Reorganisation, IAS 27 Carve-out in the app →Under Ind AS 27, 'separate financial statements' are those presented by a parent (or an investor with associatUnder Ind AS 27, dividends from a subsidiary, associate or JV in separate FS are recognised in P&L:Ind AS 27 vs IAS 27 — the principal carve-out in Ind AS 27 is that it does NOT allow:An entity holds investment in subsidiary at COST in its SFS, AND investment in JV at FVTPL under Ind AS 109. AParent Ltd. is exempted from preparing consolidated FS under paragraph 4(a) of Ind AS 110. Identify the correcAn entity becomes an INVESTMENT ENTITY on 1 Apr 20X1. It previously held a subsidiary at COST (CV ₹1,00,000); When an INVESTMENT ENTITY CEASES TO BE an investment entity, it accounts for an investment in a subsidiary by:Parent Ltd.'s group has: Subsidiary A (consolidates), Subsidiary B (consolidation exempt), Associate C (consolAn entity is a venture capital organisation holding 22% of Company P. Under Ind AS 28, it elected FVTPL for P.An investment entity must measure its investments in subsidiaries at FVTPL under Ind AS 109 (Ind AS 110 paragrNew Co. is interposed between Owners and Company A by issuing equity to Owners in exchange for Company A's equContinuing: AFTER the New-Co interposition, the same Ind AS 27 paragraph 13 cost-measurement rule applies evenAn entity changes its accounting policy for an existing subsidiary in SFS from COST to FAIR VALUE under Ind ASAn investment in a JV is initially measured at COST in SFS. The investment is later classified as held for salAn entity must apply the SAME accounting (cost vs Ind AS 109) for EACH CATEGORY of investments in SFS. Identif