IFRS 16 · Workpapers (Step 4 of 5)
Workpaper assignment
- Course
- Exercises
- Case studies
- Workpapers
- Exams
Lease disclosures (lessee and lessor)
Sale and leaseback of the head office and disclosures by the seller-lessee
Section 1 of 7
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 16 workpaper
- Level
- Expert
- Estimated time
- ≈ 45 min
- Progress
- 0 / 3 steps done (review excluded)
Context
Valtera SA (a fictitious entity), an industrial group, owns its head office. To finance a new campus whose delivery is planned for early 20X4, it sells the building on 1 January 20X1 to Foncière Orsane (a fictitious entity) and leases it back until its relocation. You are preparing, for the consolidated financial statements for the year ended 31 December 20X1, the accounting for the transaction by Valtera, the seller-lessee, and the note on its leases.
Assignment
Workpaper Note on leases.
Purpose of the workpaper
Gather the amounts for the period and the maturity analyses, check the lessee presentation, complete the lessee and lessor checklists, then assess the additional qualitative information needed to meet the disclosure objective and draft the single lease note.
Questions of the file covered by this workpaper
- What is the impact of the transaction on the consolidated financial statements?
- Which disclosures do you provide in the note at 31 December 20X1?
Documents in the file
Open the documents to pick out the relevant information.