Preparation of total comprehensive income, the reconciliation of equity and the plan of the notes: accounting policies, judgments and estimates: Recoverable amount of the North unit

Context

Halvier SA (fictitious entity), an industrial trading group, closes its accounts on 31 December 20X6. You prepare the statements of performance and of equity and the plan of the notes: minimum line items, other comprehensive income, changes in equity, accounting policy information, judgments and estimates. This standard applies until IFRS 18 applies (annual periods beginning on or after 1 January 2027); the IFRS 18 course presents what changes.

Assignment

Comprehensive income, equity, accounting policies, judgments and estimates

Purpose of the workpaper

Record profit or loss, the other comprehensive income items split between items that will be reclassified and items that will not, the movements in equity, the accounting policies and the judgments and estimates of the entity. Compute total comprehensive income, reconcile the closing balance of equity, then prepare the plan of the notes. The amounts, the policies and the assumptions are case data; the materiality of the information remains a judgment.

Questions of the file covered by this workpaper

• Compute the subtotal of other comprehensive income that will be reclassified.
• Compute total comprehensive income.
• Reconcile closing equity.
• Which accounting policy information is material?
• Which judgments and estimation assumptions must be disclosed?

• MemoGroup profile and case conventionsOpen
• ScheduleProfit or loss items of 20X6Open
• ScheduleOther comprehensive income of 20X6Open
• ScheduleChanges in equity of 20X6Open
• MemoProposed note on accounting policiesOpen
• MemoJudgments and estimates of managementOpen
• ScheduleExpenses of 20X6 by function and by natureOpen
• InvoiceQuote for audit softwareOpen