IFRS 7 · Workpapers (Step 4 of 5)
Workpaper assignment
- Course
- Exercises
- Case studies
- Workpapers
- Exams
Map of the financial instrument disclosures: classes reconciled to the line items and qualitative and quantitative information by risk: Non-current financial assets
Fair value, hedging, links with IAS 32 and IAS 7, recent amendments and IFRS 18: a disclosure file
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 7 workpaper
- Level
- Expert
- Estimated time
- ≈ 60 min
- Progress
- 0 / 3 steps done (review excluded)
Context
Silvane SA (fictitious entity) holds financial assets at fair value and a hedging derivative, and is financed by a loan whose rate depends on an environmental target, a bond and trade payables, part of which is financed by a provider. You prepare the framework of the disclosures for the closing date of 31 December 20X6.
Assignment
Classes of Silvane reconciled to the line items
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 the two line items into classes reconciled to the line items.
- Total the financial assets by fair value level.
Documents in the file
Open the documents to pick out the relevant information.