Ifrs - optional exemptions and mandatory exceptions

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Querist : Anonymous

Querist : Anonymous (Querist)

12 June 2015 Ind AS 101 provides two categories of exemptions i.e optional exemptions and mandatory exceptions. What does this mean? what is the difference when it comes to applicability.

Regards,

Amol S Joglekar

Amol S Joglekar (Expert)
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12 June 2015 the phrases are in fact self explanatory.

The mandatory exceptions are those which are to be excepted whether or not the company wishes to

The optional exemptions may be availed or not availed at the option of the wish of the company.