Context · Dated fact of the file
Aldéris: a group's interests note, from the inventory to structured entities
Aldéris SA, a fictitious industrial and financial group, IFRS consolidated financial statements, year-end 31 December.
IFRS 12 · Case studies (Step 3 of 5)
Practical case
- Course
- Exercises
- Case studies
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File · Progressive casePath L1 → L4L1 · Fundamental
Aldéris: a group's interests note, from the inventory to structured entities
Aldéris SA, a fictitious industrial and financial group, IFRS consolidated financial statements, year-end 31 December.
1 document4 tasks
- Period
- Year N, inventory
- Standards
- IFRS 12 — Disclosure of Interests in Other Entities
- Levels
- 0 / 4 levels validated
- Current level
- L1 · Guided≈ 120 min
Assistance levelFull guidance · strong assistance
- Method: shown
- Checklist: shown
- Hints: shown
- Step-by-step work: shown
Case brief
L1 · Guided · Year N, inventory
Level 1: inventory of interests and judgements to explain
Progressive case in four levels: you build Aldéris's complete set of notes on its interests in other entities. (1) Inventory of interests, judgements to explain and objective of the notes; (2) note on a subsidiary with material non-controlling interests, summarised information and restrictions; (3) material joint arrangement and associate, reconciliation, unrecognised losses, commitments, change in ownership and an interest held for sale; (4) consolidated and unconsolidated structured entities, past involvement, loss of control and the division of roles among standards. Percentages, amounts and choices in the case are case data; rounding follows a case convention, not a rule of the standard.
Aldéris is preparing its notes on interests in other entities. You place each interest in the right family of disclosures and spot the judgements to explain. The standards involved are announced.
Fundamental level: the method, help and references are shown.
Method
- 1Read the brief and the assignment.
- 2Open each document and spot the relevant data.
- 3Carry out the work in the suggested order.
- 4Submit, then read the conclusion and the model answer.
File checklist
- Open each piece (0 / 1 consulted) · to do
- Answer the questions of the level (0 / 4) · to do
- Validate the level, then read the conclusion · to do
Events
The file, period by period
2 / 6 stages reached
Initial event · L1·Year N, inventory · Current stage
Level 1: inventory of interests and judgements to explain
Aldéris is preparing its notes on interests in other entities. You place each interest in the right family of disclosures and spot the judgements to explain. The standards involved are announced.
Pieces added
- Aldéris interests sheet
New period · L2·Year N, material subsidiary · Upcoming: unlocks after the current stage
Upcoming stage
New period · L3·Year N, joint arrangements and movements · Upcoming: unlocks after the current stage
Upcoming stage
New period · L4·Year N, structured entities and loss of control · Upcoming: unlocks after the current stage
Upcoming stage
Conclusion · Upcoming: unlocks after the current stage
Upcoming stage
Documents
Case documents
1 document to work from at this level.
Document 1Document
Aldéris interests sheet
The facts are teaching assumptions. The control of Cérès and Dunes raises no difficulty of analysis.
| Entity | Facts |
|---|---|
| Cérès SA | Aldéris holds 70% of capital and voting rights and appoints the majority of the board |
| Dunes SA | Held at 100% |
| Brise SA | Aldéris holds 46% of the voting rights; a shareholders' agreement gives it the right to appoint the majority of the board, which directs decisions; the other shareholders are widely dispersed |
| Boréal SA | Two-party arrangement (Aldéris 50%), structured through a separate vehicle; key decisions require the agreement of both parties |
| Lorant SA | Aldéris holds 17% of the voting rights, has a board seat and takes part in policy decisions; Lorant depends on its technology |
| Opale fund | Securitisation vehicle: Aldéris holds subordinated notes; votes concern only administrative tasks and a contract fixes the key decisions; Aldéris does not control it |
Data
Facts of the file
- Entity
- Aldéris SA, a fictitious industrial and financial group, IFRS consolidated financial statements, year-end 31 December.
- Period
- Year N, inventory
- Current level
- L1 · Guided
- Standards
- IFRS 12 — Disclosure of Interests in Other Entities
Pieces carried over from earlier levels
First level: all the data is in the brief and the pieces of this level.
Questions
4 parts to answer, marked when you submit the level.
- Information to identify1
- Questions3
Information to identify
Find the useful facts in the pieces before concluding.
Part 1 · Classification · Recognition
Place each interest in the family of IFRS 12 information that concerns it.
ItemSubsidiariesJoint arrangements and associatesUnconsolidated structured entities
Cérès SA
Dunes SA
Brise SA
Boréal SA
Lorant SA
Opale fund
3 more questions will appear once the current question is complete.
Complete the question to continue.
Workspace
Your working draft for this file: points noted, leads, intermediate calculations.
Saved on this device only; never graded.
Conclusion
Answer every part to submit the level and see the conclusion.
Normative references
- IFRS 12 §1
- IFRS 12 §4
- IFRS 12 §7
- IFRS 12 §9
- IFRS 12 §10
- IFRS 12 §12
- IFRS 12 §B10
- IFRS 12 §B11
- IFRS 12 §13
- IFRS 12 §21
- IFRS 12 §B12
- IFRS 12 §24
- IFRS 12
- IFRS 12 §22
- IFRS 12 §23
- IFRS 12 §18
- IFRS 12 §19
- IFRS 12 §5A
- IFRS 12 §B17
- IFRS 12 §25
- IFRS 12 §14
- IFRS 12 §B14