Match the items of List - I with List - II : Codes : (a) (b) (c) (d)List - I List - II (a) Intangible Assets (i) Ind AS 31 (b) Impairment of Assets (ii) Ind AS 34 (c) Interim Financial Reporting (iii) Ind AS 36 (d) Interests in Joint Ventures (iv) Ind AS 38
(iv) (iii) (ii) (i)
Indian Accounting Standards (Ind AS) are the IFRS-converged standards; each one carries the number of its IAS counterpart, so matching the list is a matter of recalling the IAS numbering.
(a) Intangible Assets are covered by Ind AS 38 (IAS 38), which deals with recognition and measurement of identifiable non-monetary assets without physical substance, such as software, patents and licences. So (a) matches (iv).
(b) Impairment of Assets is Ind AS 36 (IAS 36): an asset must not be carried above its recoverable amount, the higher of fair value less costs of disposal and value in use. So (b) matches (iii).
(c) Interim Financial Reporting is Ind AS 34 (IAS 34), which sets the minimum content and recognition rules for reports covering less than a full year, such as quarterly results. So (c) matches (ii).
(d) Interests in Joint Ventures was Ind AS 31 (IAS 31) in the converged set issued in 2011. In the Ind AS notified in February 2015 this area moved to Ind AS 111, Joint Arrangements, but the paper follows the older numbering. So (d) matches (i).
The resulting code is (iv) (iii) (ii) (i).
Hence, (iv) (iii) (ii) (i).
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