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IAS 7Workpapers (Step 4 of 5)

Workpaper assignment

Step 4 of 5

Version of this content

IAS 7 as amended by IFRS 18

Applies to annual periods beginning on or after January 1, 2027. Early application permitted. Only together with early application of IFRS 18, which is permitted and must be disclosed (IFRS 18, para. C1).

Mission · workpaperWorkpaper · IAS 7L4 · Expert

Documents

Comparative consolidated statements of financial position

Schedule

Comparative consolidated statements of financial position

Hestrel group, at 31 December 20X7 then 20X8 (EUR). Assets: property, plant and equipment 8,400,000 and 9,890,000; right-of-use assets 1,200,000 and 1,320,000; goodwill 900,000 and 2,030,000; investment in Lysandre Logistique (associate, equity method) 1,100,000 and 1,160,000; six-month term deposit: nil and 300,000; inventories 3,100,000 and 3,600,000; trade receivables 2,600,000 and 3,050,000; cash and cash equivalents in assets 1,350,000 and 1,130,000; total 18,650,000 and 22,480,000. Liabilities and equity: bank borrowings 4,000,000 and 6,450,000; bank overdrafts 150,000 and 280,000; lease liabilities 1,250,000 and 1,300,000; trade and other payables 2,900,000 and 3,380,000; current tax payable 180,000 and 230,000; interest payable 40,000 and 55,000; provisions 300,000 and 360,000; share capital and premium 3,000,000 and 3,600,000; non-controlling interests 400,000 and 180,000; retained earnings 6,430,000 and 6,645,000.

Reconciliation of liabilities arising from financing activities: Accrued interest on loans

File for preparing the consolidated statement of cash flows of a retail group

12 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 7 workpaper
Level
Expert
Estimated time
≈ 45 min
Progress
0 / 4 steps done (review excluded)

Context

The Hestrel group (fictitious entity, DIY and garden retail) is closing its 20X8 consolidated financial statements. The year combines the acquisition of Brivaldi SAS, the disposal of Hestrel Atlantique, a purchase of non-controlling interests, new leases, a dollar loan, a US subsidiary, trapped cash and a supplier finance programme. The draft statement does not reconcile with cash. You prepare the file, submitted to the reviewer before sign-off. Teaching simulation: the review trail of the file (preparation, reviewer notes and final sign-off) is simulated for demonstration purposes; it is neither a real review nor a validation of the content.

Assignment

Reconciliation of liabilities arising from financing activities

Purpose of the workpaper

For each class of liabilities (one instance per class: bank borrowings, lease liabilities, bonds…), check that it is a liability arising from financing activities, take the opening and closing balances from the statement of financial position, split the changes between financing cash flows, changes from obtaining or losing control, exchange effects, fair value changes and other non-cash changes, check that the reconciliation agrees with the reported balance and prepare the disclosure with its links to the statement of cash flows and the primary statements.

Questions of the file covered by this workpaper

  • Split the lease payments and check the repayments.
  • Prepare the reconciliation of financing liabilities.

Documents in the file

Open the documents to pick out the relevant information.

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