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A 'carve-out' from IFRS during the framing of Ind AS means:
AAdding new disclosures not in IFRS
BA deletion or modification of a particular IFRS provision to suit Indian conditions
CAligning with US GAAP
DAdopting IFRS in full
Answer & Solution
Correct answer: B. A deletion or modification of a particular IFRS provision to suit Indian conditions
1. Step 1: A carve-out is a modification or deletion of IFRS provisions when framing Ind AS, to suit Indian legal/regulatory context.
2. Step 2: A carve-in is adding extra Indian-specific requirements.
3. Step 3: Hence (A).
_Source: ICAI BoS CA Inter Paper 1, Ch 3 "Applicability of Accounting Standards"_