Page 20 - 30. COMPILER QB - IND AS 101

Other current assets 50,000 - 50,000
TOTAL ASSETS 85,00,000 5,40,000 90,40,000
EQUITY AND LIABILITIES

Equity
Equity share capital 10,00,000 - 10,00,000
Other equity 25,00,000 7,90,000 32,90,000
Non-current liabilities
Financial liabilities
Borrowings (Note-7) 4,50,000 - 4,50,000
Provisions 3,50,000 - 3,50,000
Deferred tax liabilities (Net) 3,50,000 (50,000) 3,00,000

Current liabilities
Financial liabilities
Trade payables 22,00,000 - 22,00,000
Other financial liabilities 3,90,000 - 3,90,000
Other current liabilities 60,000 - 60,000
Provisions (Note-8) 12,00,000 (2,00,000) 10,00,000
TOTAL EQUITY AND LIABILITIES 85,00,000 5,40,000 90,40,000

OTHER EQUITY
Retained Earnings (Rs) Fair value reserve Total
As at 31 March, 2018 27,90,000 (W.N.1) 5,00,000 32,90,000

Working Note 1:

Retained earnings balance:
Balance as per Earlier GAAP 25,00,000

Transitional adjustment due to loan’s fair value 10,000
Transitional adjustment due to increase in mutual fund’s fair value 30,000
Transitional adjustment due to decrease in deferred tax liability 50,000
Transitional adjustment due to decrease in provisions (dividend) 2,00,000

Total 27,90,000

Disclosure forming part of financial statements:
Proposed dividend on equity shares is subject to the approval of the shareholders of the company at the

annual general meeting and should not be recognized as liability as at the Balance Sheet date.
Note 1: Property, plant & Equipment:
As per Ind AS 101, an entity may elect to measure an item of property, plant and equipment at the date of
transition to Ind AS at its fair value and use that fair value as its deemed cost at that date.
It had to be applied for all items of property, plant and equipment. So, if the exemption is taken for buildings,
Ind AS will have to be applied retrospectively for other assets as well. Since, an entity elect to measure an

item of property, plant and equipment at the date of transition to Ind AS at its fair value and use that fair
value as its deemed cost at that date, it is assumed that the carrying amount of other assets based on
retrospective application of Ind AS is equal to their fair value of Rs. 10 lakhs.
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