Home › CA Final › financialreporting › Ind AS 34 — Interim Financial Reporting: Contents, Recognition & Measurement, Estimated ETR, Seasonal Revenues › An entity's estimate of an amount reported in an…
An entity's estimate of an amount reported in an interim period changes SIGNIFICANTLY in the FINAL interim period of the year, but no separate report is published for that final interim period. Required disclosure:
ADisclose in the next year's report only
BDisclose the change in the interim financial report
CDisclose the nature and amount of the change in a note to the ANNUAL financial statements
DRestate prior interim periods
Answer & Solution
Correct answer: C. Disclose the nature and amount of the change in a note to the ANNUAL financial statements
Ind AS 34 paragraph 26: when an estimate changes significantly in the final interim period but no separate Q4 report is published, the change must be disclosed in the annual financial statements. This preserves transparency about interim-period estimation uncertainty.
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