Map of the financial instrument disclosures: classes reconciled to the line items and qualitative and quantitative information by risk: Current financial assets

Context

Lumera SA (fictitious entity) prepares the notes on its financial instruments for the closing date of 31 December 20X6. The line item for current financial assets and the line item for financial liabilities group instruments of a different nature. You draw up the framework of the disclosures: classes, categories and risks.

Assignment

Framework of the classes and risks of Lumera

Purpose of the workpaper

Identify the line items of the statement of financial position that contain financial instruments, group them into classes by their nature and characteristics, reconcile the classes to the line item, then draw up the plan of the information by type of risk. Classes, amounts and risks are case data: no class is presented as imposed by the standard.

Questions of the file covered by this workpaper

• Group the instruments of each line item into classes.
• Reconcile the classes of assets to the line item: compute their total.
• Reconcile the classes of liabilities to the line item: compute their total.
• Which risk dominates in each class?
• Which qualitative information is to be provided for each type of risk?

• MemoCompany profile and case conventionsOpen
• ScheduleCurrent financial assets at 31 December 20X6Open
• ScheduleFinancial liabilities at 31 December 20X6Open
• MemoFinancial risk management policyOpen
• DocumentSales brochureOpen