IFRS 12 · Workpapers (Step 4 of 5)
Workpaper assignment
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Disclosures on joint arrangements, associates and unconsolidated structured entities: summarised information, reconciliation to the carrying amount, unrecognised losses, commitments and structured entities
Unconsolidated structured entities, sponsor and investment entity: judgments, disclosures on unconsolidated subsidiaries, support and exemptions
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 IFRS 12 workpaper
- Level
- Expert
- Estimated time
- ≈ 90 min
- Progress
- 0 / 4 steps done (review excluded)
Context
Alcor Capital SA (fictitious entity) manages funds and concludes that it is an investment entity. It holds unconsolidated subsidiaries, interests in structured entities, sponsored a securitisation vehicle and controls a vehicle supported by a commitment. You prepare the IFRS 12 disclosures for 20X6.
Assignment
Unconsolidated structured entities and investment entity of Alcor
Purpose of the workpaper
For each material joint venture or associate, list the summarised information, the share of net assets, goodwill and adjustments, and reconcile them to the carrying amount; list the unrecognised share of losses and the commitments; take an inventory of the unconsolidated structured entities. Summarised information is individual, never aggregated. Percentages and amounts are case data.
Questions of the file covered by this workpaper
- Which disclosures does Alcor give on its investment entity status, despite the absence of a typical characteristic?
- Which disclosures on the unconsolidated subsidiaries Nivel and Orsay?
- Are Helion, Nerval, Verity and Carmel structured entities, and which of them are unconsolidated?
- What is the total carrying amount of the interests in unconsolidated structured entities, and what must be presented?
- Verity: is the past involvement as a sponsor with no interest at the closing date to be disclosed?
- Carmel: which disclosures for a structured entity controlled by an investment entity, including the support commitment?
Documents in the file
Open the documents to pick out the relevant information.