IAS 16 · Workpapers (Step 4 of 5)
Workpaper assignment
- Course
- Exercises
- Case studies
- Workpapers
- Exams
Disclosure checklist
Professional file: construction and commissioning of a production site
Section 1 of 8
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 16 workpaper
- Level
- Expert
- Estimated time
- ≈ 50 min
- Progress
- 0 / 4 steps done (review excluded)
Context
Céramiques de la Haute Vallée (a fictitious company) has a 31 December reporting date and measures its property, plant and equipment under the cost model; its policy deducts grants related to assets from their carrying amount. In 20X1, it built an industrial building with its own teams and bought a tunnel kiln from a foreign supplier; the site is commissioned during the year. You are in charge of the year-end file for 20X1 and 20X2: preparation of the workpapers, proposed entries, review of the notes, answers to the reviewer's notes and conclusion of the file.
Assignment
'Disclosure checklist' workpaper: reconciliation of the draft 20X1 note and review of the requirements.
Purpose of the workpaper
Check the property, plant and equipment note: reconcile the gross carrying amount and accumulated amounts between the beginning and end of the period, then give each requirement a status (required, not applicable, completed, to review).
Questions of the file covered by this workpaper
- Reconcile the draft 20X1 note and review the disclosures.
Documents in the file
Open the documents to pick out the relevant information.