Page 19 - IC46 addendum

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b. IND AS2 provides explanation with regard to
inventory of service providers.

c. IND AS2 does not provide any specific
explanation in respect of machinery space
which can be used in connection with an item
of fixed asset as this aspect is covered in
IND AS16.

d. IND AS2 does not apply to, measurement of
inventory held by commodity broker traders
who measure their inventory at fair value less
costs to sell. It also defines fair value and
provides an explanation in respect of
distinction between net realisable value and
fair value.

e. All above.

23. As compared with AS3, what additional
aspects are covered by IND AS 7 in
respect of cash flows:

a. IND AS7 specifically includes bank overdrafts
which are repayable on demand as a part of
cash and cash equivalent.

b. IND AS7 provides that cash payments to
manufacture or acquire assets held for rental
to others and subsequently held for sale in

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