IAS 10 · Workpapers (Step 4 of 5)
Workpaper assignment
- Course
- Exercises
- Case studies
- Workpapers
- Exams
Version of this content
IAS 10 Events after the Reporting Period — wording before IFRS 18Applicable today
Applies to annual periods beginning before January 1, 2027.
Going concern: assessment up to the authorisation date
Plant fire and plan to discontinue a business after the reporting date: going concern and disclosures
Section 1 of 7
Objective
Section brief
- What to document
- The engagement, its scope and the working mode chosen.
- Why
- A workpaper answers one precise question: framing it avoids off-topic work.
- How
- Read the objective and the assignment, then choose the mode (guided, semi-guided, professional).
- Expected result
- You know which question the workpaper must settle, and for which reporting date.
- Your role
- Preparer of the IAS 10 workpaper
- Level
- Advanced
- Estimated time
- ≈ 40 min
- Progress
- 0 / 3 steps done (review excluded)
Context
Filatures de Combreval SA (fictitious entity) suffers, after its 20X5 reporting date, a fire at its weaving plant and then decides to discontinue that business. You assess the consequences for the 20X5 statements, with little guidance.
Assignment
Going concern up to 24 March 20X6
Purpose of the workpaper
List the decisions of the governing bodies and the adverse events that occurred after the reporting date up to the authorisation date, compare cash needs with the financing available, conclude on the basis of preparation of the financial statements (intention, or no realistic alternative but, to liquidate or to cease trading) and on the update of disclosures about conditions existing at the reporting date.
Questions of the file covered by this workpaper
- Can the 20X5 statements be prepared on a going concern basis?
- What should be done with the lawyer's letter?
Documents in the file
Open the documents to pick out the relevant information.