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IFRS 11Workpapers (Step 4 of 5)

Workpaper assignment

Step 4 of 5
Mission · workpaperWorkpaper · IFRS 11L2 · Intermediate

Documents

Group profile and case conventions

Memo

Group profile and case conventions

Calder SA (fictitious entity) closes its accounts on 31 December 20X6. Case conventions: amounts in EUR; the decision rule, the shares and the purchase commitments are those of the agreements; case convention (pedagogical assumption, not attributed to IFRS 11): the purchase commitments of Hanvir are enforceable at law; the subscription in Kelmar is paid in cash; the entry is illustrative.

Classification of a joint arrangement: joint control, separate vehicle, legal form, contractual terms and other facts and circumstances: Hanvir

Joint arrangement with a separate vehicle: voting pattern, legal form, contractual terms, other facts and circumstances and the 2015 Committee decision

4 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 IFRS 11 workpaper
Level
Intermediate
Estimated time
≈ 60 min
Progress
0 / 4 steps done (review excluded)

Context

Calder SA (fictitious entity) holds shares in two companies it did not create alone: Hanvir SA, which runs a processing plant, and Kelmar SAS, a logistics platform in which it subscribes capital in 20X6. You prepare the classification note for the two arrangements.

Assignment

Classification of Hanvir and Kelmar

Purpose of the workpaper

Describe the arrangement, the decisions on the relevant activities and the consent they require, then the vehicle if any, its legal form, the terms of the arrangement and the other facts and circumstances. Percentages, decision thresholds and amounts are case data: none is presented as imposed by the standard, and the classification remains a judgment supported by the enforceable rights and obligations of the parties.

Questions of the file covered by this workpaper

  • Hanvir: which combination of parties reaches the decision threshold, and which parties have joint control?
  • Hanvir: does Mistel have joint control? Why is a single combination enough to conclude?
  • Hanvir: what do the legal form and the terms of the agreement suggest about the rights of the parties?
  • Hanvir: do the other facts and circumstances change the classification? Which type of arrangement results?
  • Kelmar: joint control, legal form, terms and other facts and circumstances; which type of arrangement?
  • Does the intention of Calder’s management or the purpose of Hanvir change the classification?

Documents in the file

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