Skip to main content
IFRS Academy

CERTYNEX IFRS ACADEMY

My account — Professional

Search the Academy

Home
My learning path
Exercises & quizzes
Cases
Workpapers
Exams
My progress

IAS 34Workpapers (Step 4 of 5)

Workpaper assignment

Step 4 of 5
Mission · workpaperWorkpaper · IAS 34L1 · Fundamental

Documents

Company profile and case conventions

Memo

Company profile and case conventions

Brassac SA (fictitious entity) makes industrial pumps; its shares are traded on a regulated market and it closes its annual accounts on 31 December; its functional currency is the euro. Case conventions: amounts in EUR; case convention (pedagogical assumption, not attributed to the standard): the entity publishes a condensed set of financial statements; the entry is illustrative and uses a generic expense account and a generic payable account; the computation of earnings per share belongs to the IAS 33 course.

Content of an interim report: components, headings and subtotals, periods presented, year-to-date from the quarters and notes on significant events: Periods and nine-month total

Quarterly report of a listed company: publication not imposed by the standard, minimum content, condensed statements and periods presented

9 documents8 sections to document
0 / 5 sections completed
Guided mode

Section 1 of 8

Objective

In progress
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 34 workpaper
Level
Foundation
Estimated time
≈ 60 min
Progress
0 / 4 steps done (review excluded)

Context

Brassac SA (fictitious entity), a maker of industrial pumps whose shares are traded on a regulated market, closes its annual accounts on 31 December. You review the draft financial report for the third quarter of 20X6 (period ended 30 September 20X6) before it is published: source of the obligation to publish, components of the report, headings and subtotals of the condensed statement, earnings per share, periods and comparatives, nine-month year-to-date amount and recognition of a September expense.

Assignment

Check of the content, headings and periods of the third-quarter report

Purpose of the workpaper

Record the components of the report, the headings and subtotals of the latest annual statements and of the condensed statement, the periods and comparatives presented for each statement and the events of the period since the last annual period. Then check each point of the list, compute the year-to-date amount from the quarterly amounts and judge whether the events are significant for the notes. The facts are case data; each conclusion remains a supported judgment and no numeric threshold is imposed.

Questions of the file covered by this workpaper

  • Which minimum components of a condensed report does the draft contain, and which is missing?
  • Does the condensed statement of financial position keep each heading and subtotal of the latest annual statements?
  • What errors does the draft contain on the periods and comparatives presented?
  • Compute the nine-month year-to-date revenue from the quarters.

Documents in the file

Open the documents to pick out the relevant information.

Choose how you want to work
View the workpaper template