{"entries":[{"key":"LX.IAS7.000001","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SCOPE.OBJECTIVE_AND_BENEFITS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"BANKING","tested_point":"IAS7_ALL_ENTITIES","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS7.000001","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000001","section_id":"statement"},"references":["IAS 7 §3"],"exercise":{"prompt":{"fr":"","en":"A fictitious insurer, Pelisande Insurance, claims that its statement of cash flows is optional because investments are its core business. Is it right?","es":""},"explanation":{"fr":"","en":"No: all entities present a statement, whatever the nature of their activities (IAS 7, para. 3).","es":""},"common_error":{"fr":"","en":"Believing that an industry where cash is the \"product\" falls outside IAS 7.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000002","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SCOPE.OBJECTIVE_AND_BENEFITS"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"RETAIL","tested_point":"IAS7_INTEGRAL_PART","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS7.000001","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000001","section_id":"statement"},"references":["IAS 7 §1"],"exercise":{"prompt":{"fr":"","en":"Where must the statement of cash flows appear?","es":""},"explanation":{"fr":"","en":"The statement is an integral part of the financial statements for each period presented (IAS 7, para. 1).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"In the financial statements, of which it is an integral part, for each period presented","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"As an optional appendix, at management’s choice","es":""},"correct":false,"feedback":{"fr":"","en":"It is not optional.","es":""}},{"id":"C","text":{"fr":"","en":"Only in consolidated financial statements","es":""},"correct":false,"feedback":{"fr":"","en":"Any entity presenting IFRS financial statements is covered.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000003","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SCOPE.OBJECTIVE_AND_BENEFITS"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"MANUFACTURING","tested_point":"IAS7_BENEFITS","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000001","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000001","section_id":"benefits"},"references":["IAS 7 §5"],"exercise":{"prompt":{"fr":"","en":"Under IAS 7, what are historical cash flows used for?","es":""},"explanation":{"fr":"","en":"Indicator of future cash flows, check of estimates, profitability–cash link, effect of prices (IAS 7, para. 5).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Indicating the amount, timing and certainty of future cash flows","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Checking the accuracy of past estimates","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Examining the relationship between profitability and net cash flows","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Determining taxable profit for the period","es":""},"correct":false,"feedback":{"fr":"","en":"This is not an objective of IAS 7.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000004","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SCOPE.OBJECTIVE_AND_BENEFITS"],"dimension":"RECOGNITION","format":"MATCHING","context":"TRANSPORT","tested_point":"IAS7_USER_QUESTIONS","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000001","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000001","section_id":"benefits"},"references":["IAS 7 §4","IAS 7 §5"],"exercise":{"prompt":{"fr":"","en":"Match each user question with the benefit of the statement that answers it.","es":""},"explanation":{"fr":"","en":"Liquidity and comparability (IAS 7, para. 4); checking past estimates (IAS 7, para. 5).","es":""},"common_error":{"fr":"","en":"Attributing accounting performance measurement to the statement: it informs on liquidity, comparability and the realism of past estimates.","es":""},"format":"MATCHING","left":[{"id":"L1","text":{"fr":"","en":"Will the entity be able to repay its loan next year?","es":""}},{"id":"L2","text":{"fr":"","en":"Two hauliers depreciate their trucks differently: which performs better?","es":""}},{"id":"L3","text":{"fr":"","en":"Were last year's cash forecasts realistic?","es":""}}],"right":[{"id":"R2","text":{"fr":"","en":"Comparability despite different accounting treatments","es":""}},{"id":"R3","text":{"fr":"","en":"Checking the accuracy of past estimates","es":""}},{"id":"R1","text":{"fr":"","en":"Liquidity and solvency","es":""}}],"pairs":[{"left":"L1","right":"R1"},{"left":"L2","right":"R2"},{"left":"L3","right":"R3"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000005","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SCOPE.OBJECTIVE_AND_BENEFITS"],"dimension":"ANALYSIS","format":"MINI_CASE","context":"TECHNOLOGY","tested_point":"IAS7_PROFIT_VS_CASH","difficulty":"ADVANCED","estimated_time_s":390,"lesson_id":"LS.IAS7.000001","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000001","section_id":"judgment"},"references":["IAS 7 §4"],"exercise":{"prompt":{"fr":"","en":"Analyse the situation of two fictitious software publishers.","es":""},"explanation":{"fr":"","en":"Same cash, different profits: comparing cash flows removes the effect of accounting choices (IAS 7, para. 4).","es":""},"common_error":{"fr":"","en":"Concluding that an entity \"earns more\" cash because its profit is higher.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Nantire and Ondelys have identical activities in N: same sales collected, same purchases paid, same investments. Nantire depreciates its servers over 3 years, Ondelys over 5 years (each entity's own estimates, case data). Profit for N: Nantire 400,000, Ondelys 520,000. Net operating cash flows for N: 610,000 each.","es":""},"parts":[{"prompt":{"fr":"","en":"By how much does Nantire's depreciation charge exceed Ondelys's (no other difference)?","es":""},"explanation":{"fr":"","en":"520,000 − 400,000 = 120,000, with no effect on cash (IAS 7, para. 4).","es":""},"common_error":{"fr":"","en":"Thinking the depreciation difference changes cash: depreciation has no cash effect, hence the statement's comparability.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Nantire profit","es":""},"value":"400000","unit":"EUR"},{"label":{"fr":"","en":"Ondelys profit","es":""},"value":"520000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Difference in depreciation","es":""},"answer":120000,"tolerance":0,"unit":"EUR"}],"id":"P1","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Difference in depreciation","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Ondelys profit","es":""},"value":520000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Nantire profit","es":""},"value":400000,"unit":"EUR"}],"result":120000,"unit":"EUR"}],"rationale":{"fr":"","en":"520,000 − 400,000 = 120,000, with no effect on cash (IAS 7, para. 4).","es":""},"references":["REF.IAS7.4"]}},{"prompt":{"fr":"","en":"What conclusion does the analyst draw?","es":""},"explanation":{"fr":"","en":"The statement eliminates the effects of different accounting treatments (IAS 7, para. 4).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Operating performance is comparable: the difference in profit comes from accounting estimates","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Ondelys generates more cash than Nantire","es":""},"correct":false,"feedback":{"fr":"","en":"The cash flows are identical.","es":""}},{"id":"C","text":{"fr":"","en":"Nantire must change its depreciation period","es":""},"correct":false,"feedback":{"fr":"","en":"Nothing indicates this: it is its estimate.","es":""}}],"id":"P2","dimension":"ANALYSIS"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000006","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"RETAIL","tested_point":"IAS7_CASH_FLOW_DEFINITION","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS7.000002","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000002","section_id":"definitions"},"references":["IAS 7 §6"],"exercise":{"prompt":{"fr":"","en":"Under IAS 7, cash flows are inflows and outflows of cash and cash equivalents.","es":""},"explanation":{"fr":"","en":"True: under IAS 7, cash flows are inflows and outflows of cash and cash equivalents (IAS 7, para. 6).","es":""},"common_error":{"fr":"","en":"Limiting cash flows to cash alone: they also include inflows and outflows of cash equivalents.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000007","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"MANUFACTURING","tested_point":"IAS7_FINANCING_DEFINITION","difficulty":"BEGINNER","estimated_time_s":60,"lesson_id":"LS.IAS7.000002","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000002","section_id":"definitions"},"references":["IAS 7 §6"],"exercise":{"prompt":{"fr":"","en":"Complete the definition.","es":""},"explanation":{"fr":"","en":"Financing activities are those that change the size and composition of the entity's contributed equity and borrowings (IAS 7, para. 6).","es":""},"common_error":{"fr":"","en":"Choosing “long-term assets”: they belong to investing; financing concerns contributed equity and borrowings.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"Financing activities are those that change the size and composition of the {{b1}} and borrowings of the entity.","es":""},"blanks":[{"id":"b1","mode":"CHOICE","choices":[{"id":"C1","text":{"fr":"","en":"contributed equity","es":""}},{"id":"C2","text":{"fr":"","en":"long-term assets","es":""}},{"id":"C3","text":{"fr":"","en":"revenue","es":""}}],"answer":"C1"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000008","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.KEY_TERMS"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"CONSTRUCTION","tested_point":"IAS7_THREE_ACTIVITIES_SORT","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000002","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000002","section_id":"example"},"references":["IAS 7 §6"],"exercise":{"prompt":{"fr":"","en":"Rivolta, a fictitious civil engineering company, lists its N cash flows. Classify them.","es":""},"explanation":{"fr":"","en":"Principal activity → operating; long-term assets acquired or disposed of → investing; equity and borrowings → financing (IAS 7, para. 6).","es":""},"common_error":{"fr":"","en":"Classifying the share buyback as investing or the excavator as operating: equity → financing, long-term asset → investing.","es":""},"format":"CLASSIFICATION","categories":[{"id":"OP","text":{"fr":"","en":"Operating activities","es":""}},{"id":"INV","text":{"fr":"","en":"Investing activities","es":""}},{"id":"FIN","text":{"fr":"","en":"Financing activities","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Collection of progress billings","es":""},"category":"OP"},{"id":"I2","text":{"fr":"","en":"Payment of subcontractors","es":""},"category":"OP"},{"id":"I3","text":{"fr":"","en":"Purchase of an excavator","es":""},"category":"INV"},{"id":"I4","text":{"fr":"","en":"Sale of an unused plot of land","es":""},"category":"INV"},{"id":"I5","text":{"fr":"","en":"Drawdown of a 5-year bank loan","es":""},"category":"FIN"},{"id":"I6","text":{"fr":"","en":"Buyback of its own shares","es":""},"category":"FIN"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000009","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","format":"MATCHING","context":"HOSPITALITY","tested_point":"IAS7_TERMS_MATCH","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000002","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000002","section_id":"definitions"},"references":["IAS 7 §6"],"exercise":{"prompt":{"fr":"","en":"Match each term with its definition.","es":""},"explanation":{"fr":"","en":"The four IAS 7 definitions (IAS 7, para. 6).","es":""},"common_error":{"fr":"","en":"Confusing investing and financing: the former concerns long-term assets and investments, the latter equity and borrowings.","es":""},"format":"MATCHING","left":[{"id":"L1","text":{"fr":"","en":"Financing activities","es":""}},{"id":"L2","text":{"fr":"","en":"Investing activities","es":""}},{"id":"L3","text":{"fr":"","en":"Operating activities","es":""}},{"id":"L4","text":{"fr":"","en":"Cash flows","es":""}}],"right":[{"id":"R2","text":{"fr":"","en":"Acquisition and disposal of long-term assets and investments other than equivalents","es":""}},{"id":"R3","text":{"fr":"","en":"Principal revenue-producing activities and residual activities","es":""}},{"id":"R4","text":{"fr":"","en":"Inflows and outflows of cash and equivalents","es":""}},{"id":"R1","text":{"fr":"","en":"Change contributed equity and borrowings","es":""}}],"pairs":[{"left":"L1","right":"R1"},{"left":"L2","right":"R2"},{"left":"L3","right":"R3"},{"left":"L4","right":"R4"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000010","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.KEY_TERMS"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"AGRIFOOD","tested_point":"IAS7_LOAN_FINANCED_PURCHASE","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000002","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000002","section_id":"investing-vs-financing"},"references":["IAS 7 §6"],"exercise":{"prompt":{"fr":"","en":"An assistant comments on the classification of the cash flows of Tarvello, a fictitious cooperative. Spot the erroneous statements.","es":""},"explanation":{"fr":"","en":"Asset purchase = investing, borrowing = financing; operating = principal activity and residual (IAS 7, para. 6).","es":""},"common_error":{"fr":"","en":"Classifying an asset purchase according to how it is financed.","es":""},"format":"ERROR_SPOT","statements":[{"id":"E1","text":{"fr":"","en":"The silo bought for 400,000 with a loan is financing, since in effect the bank paid for it through us.","es":""},"erroneous":true,"correction":{"fr":"","en":"The silo is investing (−400,000); the loan received is a financing inflow (+400,000).","es":""}},{"id":"E2","text":{"fr":"","en":"Grain sales collected are operating.","es":""},"erroneous":false},{"id":"E3","text":{"fr":"","en":"Loan repayments are financing.","es":""},"erroneous":false},{"id":"E4","text":{"fr":"","en":"Operating cash flows are, by definition, those in the income statement.","es":""},"erroneous":true,"correction":{"fr":"","en":"The definition covers the principal activity and the residual, not the income statement.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000011","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.KEY_TERMS"],"dimension":"APPLICATION","format":"CALCULATION","context":"ENERGY","tested_point":"IAS7_LOAN_FINANCED_PURCHASE","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IAS7.000002","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000002","section_id":"investing-vs-financing"},"references":["IAS 7 §6"],"exercise":{"prompt":{"fr":"","en":"Savenna, a fictitious solar energy producer, borrows 1,500,000 and pays 1,500,000 for panels; it also repays 300,000 of an old loan. No other investing or financing cash flows (case data).","es":""},"explanation":{"fr":"","en":"Investing −1,500,000; financing +1,500,000 − 300,000 = +1,200,000 (IAS 7, para. 6).","es":""},"common_error":{"fr":"","en":"Offsetting the loan and the purchase of the panels.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"New loan","es":""},"value":"1500000","unit":"EUR"},{"label":{"fr":"","en":"Panels paid","es":""},"value":"1500000","unit":"EUR"},{"label":{"fr":"","en":"Repayment","es":""},"value":"300000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Net investing cash flow (outflow as negative)","es":""},"answer":-1500000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Net financing cash flow","es":""},"answer":1200000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000012","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.KEY_TERMS"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"MANUFACTURING","tested_point":"IAS7_RESIDUAL_OPERATING","difficulty":"ADVANCED","estimated_time_s":75,"lesson_id":"LS.IAS7.000002","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000002","section_id":"residual"},"references":["IAS 7 §6"],"exercise":{"prompt":{"fr":"","en":"A manufacturer pays a termination indemnity to a former distributor. No asset is acquired. In which activity?","es":""},"explanation":{"fr":"","en":"Neither investing nor financing → operating under the residual definition (IAS 7, para. 6).","es":""},"common_error":{"fr":"","en":"Looking for a link with the income statement rather than applying the residual definition.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Operating activities","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Investing activities","es":""},"correct":false,"feedback":{"fr":"","en":"No long-term asset or investment is acquired.","es":""}},{"id":"C","text":{"fr":"","en":"Financing activities","es":""},"correct":false,"feedback":{"fr":"","en":"Neither equity nor borrowings change.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000013","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.KEY_TERMS"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"BANKING","tested_point":"IAS7_PRINCIPAL_ACTIVITY","difficulty":"EXPERT","estimated_time_s":480,"lesson_id":"LS.IAS7.000002","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000002","section_id":"judgment"},"references":["IAS 7 §6"],"exercise":{"prompt":{"fr":"","en":"Compare two fictitious entities that grant loans.","es":""},"explanation":{"fr":"","en":"The same type of transaction changes drawer depending on the entity's principal activity (IAS 7, para. 6).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Helmira Credit is a consumer credit institution: granting loans is its business. Vestrade, a machine-tool manufacturer, lends 250,000 to a strategic supplier to help it modernise (case data).","es":""},"parts":[{"prompt":{"fr":"","en":"For Helmira, loans granted to customers fall within:","es":""},"explanation":{"fr":"","en":"Principal revenue-producing activity → operating (IAS 7, para. 6).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Operating activities","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Investing activities","es":""},"correct":false,"feedback":{"fr":"","en":"For an entity whose business this is, it is the principal activity.","es":""}}],"id":"P1","dimension":"APPLICATION"},{"prompt":{"fr":"","en":"For Vestrade, the 250,000 loan falls within:","es":""},"explanation":{"fr":"","en":"Investment that is not a cash equivalent → investing (IAS 7, para. 6).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Investing activities","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Operating activities","es":""},"correct":false,"feedback":{"fr":"","en":"Lending is not Vestrade’s principal activity.","es":""}},{"id":"C","text":{"fr":"","en":"Financing activities","es":""},"correct":false,"feedback":{"fr":"","en":"Vestrade receives no finance: it invests funds.","es":""}}],"id":"P2","dimension":"APPLICATION"},{"prompt":{"fr":"","en":"Vestrade's file must explain why this loan is not linked to its principal activity.","es":""},"explanation":{"fr":"","en":"True: the classification depends on the principal activity, which must be justified (IAS 7, para. 6).","es":""},"common_error":{"fr":"","en":"Classifying the loan without supporting its link to the main activity: that link determines its classification.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P3","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000014","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"RETAIL","tested_point":"IAS7_CE_MATURITY_RULE","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS7.000003","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"three-months"},"references":["IAS 7 §7"],"exercise":{"prompt":{"fr":"","en":"To classify an investment as a cash equivalent, one normally looks at its maturity from the date of acquisition, of about three months or less.","es":""},"explanation":{"fr":"","en":"True: an investment normally qualifies as a cash equivalent only when it has a short maturity of, say, three months or less from the date of acquisition (IAS 7, para. 7).","es":""},"common_error":{"fr":"","en":"Using the remaining maturity at year-end: maturity is normally measured from the date of acquisition, around three months or less.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000015","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"TECHNOLOGY","tested_point":"IAS7_CE_MATURITY_RULE","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS7.000003","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"three-months"},"references":["IAS 7 §6","IAS 7 §7"],"exercise":{"prompt":{"fr":"","en":"Irvessa, a fictitious video game publisher, took out a 12-month term deposit of 600,000 on 1/7/N, not breakable without significant penalty. At 31/12/N, 6 months remain. Classification?","es":""},"explanation":{"fr":"","en":"12-month maturity at acquisition → not an equivalent; investment outside equivalents → investing (IAS 7, paras. 6 and 7).","es":""},"common_error":{"fr":"","en":"Using the remaining maturity at year end rather than the maturity at acquisition.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Investment outside equivalents; its subscription was an investing outflow","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Cash equivalent, the remaining maturity being short","es":""},"correct":false,"feedback":{"fr":"","en":"It is the maturity at acquisition (12 months) that counts.","es":""}},{"id":"C","text":{"fr":"","en":"Cash, because it is a bank deposit","es":""},"correct":false,"feedback":{"fr":"","en":"Only demand deposits are cash.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000016","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"RETAIL","tested_point":"IAS7_CE_EQUITY_EXCLUDED","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS7.000003","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"three-months"},"references":["IAS 7 §6","IAS 7 §7"],"exercise":{"prompt":{"fr":"","en":"An entity holds highly liquid shares of a large listed company, saleable within a day. Are they cash equivalents?","es":""},"explanation":{"fr":"","en":"Cumulative criteria; equity excluded unless in substance (IAS 7, paras. 6 and 7).","es":""},"common_error":{"fr":"","en":"Classifying liquid listed shares as cash equivalents.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No: equity instruments with a fluctuating value","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Yes: they are highly liquid","es":""},"correct":false,"feedback":{"fr":"","en":"Liquidity is not enough: the amount is not known and the value risk is not insignificant.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000017","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"BANKING","tested_point":"IAS7_CE_PREFERRED_SHARES","difficulty":"ADVANCED","estimated_time_s":60,"lesson_id":"LS.IAS7.000003","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"three-months"},"references":["IAS 7 §7"],"exercise":{"prompt":{"fr":"","en":"Preferred shares acquired six weeks before their specified redemption date may, in substance, be cash equivalents.","es":""},"explanation":{"fr":"","en":"True: this is the example of equity instruments that are in substance equivalents (IAS 7, para. 7).","es":""},"common_error":{"fr":"","en":"Excluding all equity instruments from cash equivalents on principle: preference shares close to a specified redemption date can be in substance.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000018","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"HEALTHCARE","tested_point":"IAS7_CE_SORT","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000003","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"definitions"},"references":["IAS 7 §6","IAS 7 §7","IAS 7 §8"],"exercise":{"prompt":{"fr":"","en":"Korlina, a fictitious network of clinics, lists its balances at 31/12/N. Classify them.","es":""},"explanation":{"fr":"","en":"Cash and equivalents: cash on hand, demand deposits, short low-risk investments, cash-management overdrafts (IAS 7, paras. 6, 7 and 8).","es":""},"common_error":{"fr":"","en":"Including the 18-month notes or listed shares: a long maturity or value risk excludes them from cash equivalents.","es":""},"format":"CLASSIFICATION","categories":[{"id":"IN","text":{"fr":"","en":"Cash or cash equivalent","es":""}},{"id":"OUT","text":{"fr":"","en":"Outside cash and cash equivalents","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Cash held at reception desks","es":""},"category":"IN"},{"id":"I2","text":{"fr":"","en":"Demand account","es":""},"category":"IN"},{"id":"I3","text":{"fr":"","en":"2-month deposit taken out on 20/11/N","es":""},"category":"IN"},{"id":"I4","text":{"fr":"","en":"18-month notes","es":""},"category":"OUT"},{"id":"I5","text":{"fr":"","en":"Listed shares of a laboratory","es":""},"category":"OUT"},{"id":"I6","text":{"fr":"","en":"On-demand overdraft, balance alternating positive and negative","es":""},"category":"IN"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000019","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"CALCULATION","format":"CALCULATION","context":"LOGISTICS","tested_point":"IAS7_CE_AGGREGATE_CALC","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IAS7.000003","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"numeric-example"},"references":["IAS 7 §7","IAS 7 §8"],"exercise":{"prompt":{"fr":"","en":"Calculate opening and closing cash and cash equivalents of Wendral, a fictitious logistics company (case data: the overdraft is repayable on demand and fluctuates between positive and negative; the 3-month deposit is taken out on 1/12 each year).","es":""},"explanation":{"fr":"","en":"N−1: 12,000 + 240,000 + 100,000 − 70,000 = 282,000; N: 9,000 + 515,000 + 200,000 − 34,000 = 690,000; change +408,000. The 2-year deposit is excluded (IAS 7, paras. 7 and 8).","es":""},"common_error":{"fr":"","en":"Forgetting to deduct the cash-management overdraft or including the 2-year deposit.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Cash on hand N−1 / N","es":""},"value":"12000 / 9000","unit":"EUR"},{"label":{"fr":"","en":"Current accounts N−1 / N","es":""},"value":"240000 / 515000","unit":"EUR"},{"label":{"fr":"","en":"3-month deposit N−1 / N","es":""},"value":"100000 / 200000","unit":"EUR"},{"label":{"fr":"","en":"2-year deposit N−1 / N","es":""},"value":"300000 / 300000","unit":"EUR"},{"label":{"fr":"","en":"Overdraft N−1 / N","es":""},"value":"-70000 / -34000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Cash and cash equivalents at 31/12/N−1","es":""},"answer":282000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Cash and cash equivalents at 31/12/N","es":""},"answer":690000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Change to be explained by the statement","es":""},"answer":408000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000020","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"MANUFACTURING","tested_point":"IAS7_CE_OVERDRAFT","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000003","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"overdrafts"},"references":["IAS 7 §8"],"exercise":{"prompt":{"fr":"","en":"Review the working note on the overdrafts of Ferovia, a fictitious maker of railway parts. Spot the errors.","es":""},"explanation":{"fr":"","en":"Overdraft included only if repayable on demand and integral to cash management; otherwise a financing borrowing (IAS 7, para. 8).","es":""},"common_error":{"fr":"","en":"Including an overdraft that constitutes permanent financing.","es":""},"format":"ERROR_SPOT","statements":[{"id":"E1","text":{"fr":"","en":"The bank A overdraft is repayable on demand and its balance alternates every month: it is included in cash.","es":""},"erroneous":false},{"id":"E2","text":{"fr":"","en":"The bank C facility, permanently overdrawn for three years and financing the plant, is also included in cash.","es":""},"erroneous":true,"correction":{"fr":"","en":"It behaves like a borrowing: it is generally financing.","es":""}},{"id":"E3","text":{"fr":"","en":"All bank borrowings are, without exception, financing activities.","es":""},"erroneous":true,"correction":{"fr":"","en":"Exception: on-demand overdrafts integral to cash management.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000021","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"APPLICATION","format":"MULTIPLE_CHOICE","context":"HOSPITALITY","tested_point":"IAS7_CE_INTERNAL_MOVEMENT","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000003","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"internal-movements"},"references":["IAS 7 §9"],"exercise":{"prompt":{"fr":"","en":"Among these transactions of Saldane, a fictitious hotel chain, which are NOT cash flows?","es":""},"explanation":{"fr":"","en":"Movements between components of cash and cash equivalents are not cash flows (IAS 7, para. 9).","es":""},"common_error":{"fr":"","en":"Presenting the transfer to a deposit classified as an equivalent as a cash flow.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Transfer of 200,000 from the current account to a 1-month deposit","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Withdrawal of 10,000 in cash to stock the hotels’ tills","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Subscription of an 18-month deposit of 300,000","es":""},"correct":false,"feedback":{"fr":"","en":"The money leaves the aggregate: investing outflow.","es":""}},{"id":"D","text":{"fr":"","en":"Payment of 50,000 to a linen supplier","es":""},"correct":false,"feedback":{"fr":"","en":"This is an operating cash flow.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000022","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"DOCUMENTATION","format":"FILL_BLANK","context":"TELECOM","tested_point":"IAS7_CE_POLICY_DISCLOSURE","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IAS7.000003","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"judgment"},"references":["IAS 7 §46"],"exercise":{"prompt":{"fr":"","en":"Complete the policy note.","es":""},"explanation":{"fr":"","en":"The entity discloses its policy for determining the composition (IAS 7, para. 46, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Disclosing a market value or the main bank: the entity discloses the policy used to determine the composition of its cash.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"Given the variety of cash management practices, the entity discloses the {{b1}} it adopts in determining the composition of its cash and cash equivalents.","es":""},"blanks":[{"id":"b1","mode":"CHOICE","choices":[{"id":"C1","text":{"fr":"","en":"policy","es":""}},{"id":"C2","text":{"fr":"","en":"market value","es":""}},{"id":"C3","text":{"fr":"","en":"main bank","es":""}}],"answer":"C1"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000023","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"APPLICATION","format":"ORDERING","context":"MANUFACTURING","tested_point":"IAS7_CE_STEPS","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000003","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"how"},"references":["IAS 7 §6","IAS 7 §7","IAS 7 §8","IAS 7 §9"],"exercise":{"prompt":{"fr":"","en":"Put in order the procedure for determining cash and cash equivalents.","es":""},"explanation":{"fr":"","en":"Definitions, maturity, overdrafts, then elimination of internal movements (IAS 7, paras. 6, 7, 8 and 9).","es":""},"common_error":{"fr":"","en":"Presenting transfers between cash items as cash flows: they are eliminated from the statement.","es":""},"format":"ORDERING","steps":[{"id":"S1","text":{"fr":"","en":"List all balances: cash on hand, demand accounts, investments, overdrafts","es":""}},{"id":"S2","text":{"fr":"","en":"Test each investment: liquidity, known amount, risk, maturity at acquisition","es":""}},{"id":"S3","text":{"fr":"","en":"Test each overdraft: repayable on demand and integral to cash management","es":""}},{"id":"S4","text":{"fr":"","en":"Add up the items retained, overdrafts as negatives","es":""}},{"id":"S5","text":{"fr":"","en":"Eliminate from the statement transfers between items retained","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000024","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"RETAIL","tested_point":"IAS7_CE_JUDGMENT_FILE","difficulty":"EXPERT","estimated_time_s":480,"lesson_id":"LS.IAS7.000003","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"judgment"},"references":["IAS 7 §6","IAS 7 §7","IAS 7 §8","IAS 7 §46"],"exercise":{"prompt":{"fr":"","en":"Analyse the cash of Lunavel, a fictitious organic food distributor, at 31/12/N.","es":""},"explanation":{"fr":"","en":"Judgement on the indicative maturity and on the use of overdrafts, then disclosure of the policy (IAS 7, paras. 7, 8 and 46, wording before IFRS 18).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Balances at 31/12/N (case data): current accounts 640,000; 3-month deposit taken out on 10/12/N 250,000; 4-month deposit taken out on 1/10/N, repayable at any time without penalty or loss of capital and held to cover day-to-day cash needs 150,000; bank D overdraft, repayable on demand, whose balance stayed overdrawn between −180,000 and −220,000 for three years to finance a warehouse extension −200,000; bank E overdraft, repayable on demand, alternating every month between +60,000 and −40,000, balance −30,000.","es":""},"parts":[{"prompt":{"fr":"","en":"The 4-month deposit, repayable at any time without penalty:","es":""},"explanation":{"fr":"","en":"A maturity of about three months is a presumption, not a mechanical threshold: a longer investment is retained only if its purpose, liquidity and the absence of value risk are demonstrated (IAS 7, paras. 6 and 7). Retaining this deposit is here a judgement based on the case data.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"May be retained as an equivalent by exception, documenting its purpose (day-to-day cash needs), actual liquidity and the absence of value risk","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Is mechanically excluded because 4 months > 3 months","es":""},"correct":false,"feedback":{"fr":"","en":"The standard says \"normally\" and \"say\": it is not a mechanical threshold.","es":""}}],"id":"P1","dimension":"PROFESSIONAL_JUDGMENT"},{"prompt":{"fr":"","en":"The bank D overdraft:","es":""},"explanation":{"fr":"","en":"No fluctuation of balances, used as financing → outside cash (IAS 7, para. 8).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Is permanent financing, presented outside cash","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Is included in cash because it is repayable on demand","es":""},"correct":false,"feedback":{"fr":"","en":"It does not form part of cash management: permanently overdrawn.","es":""}}],"id":"P2","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"Calculate cash and cash equivalents, retaining the 4-month deposit (case convention: Lunavel's documented judgement).","es":""},"explanation":{"fr":"","en":"640,000 + 250,000 + 150,000 − 30,000 = 1,010,000; overdraft D is excluded (IAS 7, paras. 7 and 8).","es":""},"common_error":{"fr":"","en":"Including overdraft D or excluding the 4-month deposit retained by the case: the criteria and the entity's documented judgement are applied.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Current accounts","es":""},"value":"640000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Cash and cash equivalents","es":""},"answer":1010000,"tolerance":0,"unit":"EUR"}],"id":"P3","dimension":"CALCULATION"},{"prompt":{"fr":"","en":"Lunavel must disclose in the notes the policy adopted to determine the composition of its cash.","es":""},"explanation":{"fr":"","en":"True: given the variety of cash management practices, the entity discloses the policy it adopts in determining the composition of cash and cash equivalents (IAS 7, para. 46, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Omitting the policy for the composition of cash: given the diversity of practice, it is disclosed in the notes.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P4","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000025","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"APPLICATION","format":"TRUE_FALSE","context":"AUTOMOTIVE","tested_point":"IAS7_CE_OVERDRAFT","difficulty":"INTERMEDIATE","estimated_time_s":45,"lesson_id":"LS.IAS7.000003","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"overdrafts"},"references":["IAS 7 §8","IAS 7 §9"],"exercise":{"prompt":{"fr":"","en":"The on-demand overdraft of Arnovia, a fictitious car dealer, is an integral part of its cash management; it moves from −40,000 to −95,000. Arnovia must present a financing inflow of 55,000.","es":""},"explanation":{"fr":"","en":"False: this overdraft is a component of cash; its change is explained by the cash flows in the statement, it is not one of them (IAS 7, paras. 8 and 9).","es":""},"common_error":{"fr":"","en":"Treating the change in a cash-management overdraft as a financing cash flow.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000026","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"RETAIL","tested_point":"IAS7_THREE_ACTIVITIES","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS7.000004","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"three-activities"},"references":["IAS 7 §10"],"exercise":{"prompt":{"fr":"","en":"The statement of cash flows reports cash flows during the period classified by operating, investing and financing activities.","es":""},"explanation":{"fr":"","en":"True: the statement of cash flows reports cash flows during the period classified by operating, investing and financing activities (IAS 7, para. 10).","es":""},"common_error":{"fr":"","en":"Presenting cash flows unclassified or with a fourth category: they are classified as operating, investing and financing.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000027","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"HOSPITALITY","tested_point":"IAS7_PRESENTATION_SUITED","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS7.000004","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"three-activities"},"references":["IAS 7 §11"],"exercise":{"prompt":{"fr":"","en":"How does the entity present its cash flows within each activity?","es":""},"explanation":{"fr":"","en":"Presentation most appropriate to the business (IAS 7, para. 11).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"In the manner most appropriate to its business","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Using a single line template imposed on all entities","es":""},"correct":false,"feedback":{"fr":"","en":"IAS 7 does not impose a closed list of lines.","es":""}},{"id":"C","text":{"fr":"","en":"In descending order of amount","es":""},"correct":false,"feedback":{"fr":"","en":"No such order is required.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000028","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"CALCULATION","format":"CALCULATION","context":"MANUFACTURING","tested_point":"IAS7_NET_CHANGE","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IAS7.000004","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"numeric-example"},"references":["IAS 7 §10"],"exercise":{"prompt":{"fr":"","en":"Pomeral, a fictitious furniture maker, presents: operating +780,000; investing −1,120,000; financing +260,000. Cash and cash equivalents at 1/1/N: 540,000. Calculate.","es":""},"explanation":{"fr":"","en":"780,000 − 1,120,000 + 260,000 = −80,000; 540,000 − 80,000 = 460,000 (IAS 7, para. 10).","es":""},"common_error":{"fr":"","en":"Sign error when adding the three subtotals.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Operating","es":""},"value":"780000","unit":"EUR"},{"label":{"fr":"","en":"Investing","es":""},"value":"-1120000","unit":"EUR"},{"label":{"fr":"","en":"Financing","es":""},"value":"260000","unit":"EUR"},{"label":{"fr":"","en":"Opening","es":""},"value":"540000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Net change","es":""},"answer":-80000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Closing","es":""},"answer":460000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000029","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"APPLICATION","format":"CALCULATION","context":"REAL_ESTATE","tested_point":"IAS7_SPLIT_LOAN_PAYMENT","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IAS7.000004","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"split-transaction"},"references":["IAS 7 §12","IAS 7 §31","IAS 7 §33"],"exercise":{"prompt":{"fr":"","en":"Trevisol, a fictitious property company, pays a loan instalment of 260,000 in N: 200,000 of capital and 60,000 of interest. Its policy (case data): interest paid classified as financing. Split it.","es":""},"explanation":{"fr":"","en":"Capital is financing; interest may be operating or, under the policy adopted, financing: it is still presented on a separate line (IAS 7, paras. 12, 31 and 33, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Classifying interest as operating despite the case's policy, or merging it with principal: it follows the policy used, on a separate line.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Instalment","es":""},"value":"260000","unit":"EUR"},{"label":{"fr":"","en":"Interest","es":""},"value":"60000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Repayment of capital (financing)","es":""},"answer":200000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Interest paid (financing under the policy)","es":""},"answer":60000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Total in financing","es":""},"answer":260000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000030","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"TRANSPORT","tested_point":"IAS7_SPLIT_LOAN_PAYMENT","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000004","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"split-transaction"},"references":["IAS 7 §10","IAS 7 §12"],"exercise":{"prompt":{"fr":"","en":"Review the draft statement of Gaspira, a fictitious haulier (policy: interest paid as operating). Spot the errors.","es":""},"explanation":{"fr":"","en":"Split capital and interest (IAS 7, para. 12, wording before IFRS 18); add subtotals with their signs (IAS 7, para. 10).","es":""},"common_error":{"fr":"","en":"Classifying entirely as financing a repayment that includes interest.","es":""},"format":"ERROR_SPOT","statements":[{"id":"E1","text":{"fr":"","en":"The 150,000 lease instalment (of which 30,000 interest) is presented entirely as financing.","es":""},"erroneous":true,"correction":{"fr":"","en":"120,000 as financing, 30,000 of interest as operating under the policy.","es":""}},{"id":"E2","text":{"fr":"","en":"Operating +500,000, investing −300,000, financing −150,000: change +50,000.","es":""},"erroneous":false},{"id":"E3","text":{"fr":"","en":"Operating +200,000, investing −250,000, financing +100,000: change −150,000.","es":""},"erroneous":true,"correction":{"fr":"","en":"The change is +50,000.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000031","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"CALCULATION","format":"FILL_BLANK","context":"RETAIL","tested_point":"IAS7_NET_CHANGE","difficulty":"BEGINNER","estimated_time_s":60,"lesson_id":"LS.IAS7.000004","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"how"},"references":["IAS 7 §10"],"exercise":{"prompt":{"fr":"","en":"Complete.","es":""},"explanation":{"fr":"","en":"200,000 + 90,000 − 40,000 − 30,000 = 220,000 (IAS 7, para. 10).","es":""},"common_error":{"fr":"","en":"Adding flows in absolute terms: negative investing and financing flows reduce cash.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"Opening cash 200,000; operating +90,000; investing −40,000; financing −30,000. Closing cash: {{b1}}.","es":""},"blanks":[{"id":"b1","mode":"NUMBER","answer":220000,"tolerance":0}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000032","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"APPLICATION","format":"ORDERING","context":"TECHNOLOGY","tested_point":"IAS7_STATEMENT_LAYOUT","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000004","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"how"},"references":["IAS 7 §10"],"exercise":{"prompt":{"fr":"","en":"Put the blocks of the statement in the usual reading order.","es":""},"explanation":{"fr":"","en":"Three activities (IAS 7, para. 10), then the change linking opening and closing. This order is common practice, not a requirement of the standard.","es":""},"common_error":{"fr":"","en":"Presenting the net change before the three activities or thinking the order is required: practice shows the three activities, then the change linking opening and closing.","es":""},"format":"ORDERING","steps":[{"id":"S1","text":{"fr":"","en":"Net cash from operating activities","es":""}},{"id":"S2","text":{"fr":"","en":"Net cash from investing activities","es":""}},{"id":"S3","text":{"fr":"","en":"Net cash from financing activities","es":""}},{"id":"S4","text":{"fr":"","en":"Net change in cash and cash equivalents","es":""}},{"id":"S5","text":{"fr":"","en":"Cash and cash equivalents at the beginning","es":""}},{"id":"S6","text":{"fr":"","en":"Cash and cash equivalents at the end","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000033","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"APPLICATION","format":"MINI_CASE","context":"ENERGY","tested_point":"IAS7_SPLIT_LOAN_PAYMENT","difficulty":"ADVANCED","estimated_time_s":390,"lesson_id":"LS.IAS7.000004","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"split-transaction"},"references":["IAS 7 §12","IAS 7 §31"],"exercise":{"prompt":{"fr":"","en":"Build the financing block of Elvaris, a fictitious wind farm operator.","es":""},"explanation":{"fr":"","en":"Splitting instalments and a consistent policy (IAS 7, paras. 12 and 31, wording before IFRS 18).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"In N, Elvaris (policy: interest paid as operating, case data): pays two loan instalments of 340,000 each, including 90,000 and 80,000 of interest; draws a new loan of 1,000,000; pays 150,000 of dividends classified as financing (entity policy).","es":""},"parts":[{"prompt":{"fr":"","en":"Calculate the amounts.","es":""},"explanation":{"fr":"","en":"Capital 680,000 − 170,000 = 510,000; financing +1,000,000 − 510,000 − 150,000 = +340,000 (IAS 7, para. 12, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Leaving interest within the principal repayment: under the case's policy, it is shown separately in operating.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Instalments","es":""},"value":"2 × 340000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Capital repaid","es":""},"answer":510000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Interest paid (operating)","es":""},"answer":170000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Net cash from financing","es":""},"answer":340000,"tolerance":0,"unit":"EUR"}],"id":"P1","dimension":"CALCULATION"},{"prompt":{"fr":"","en":"Elvaris could change the classification of its interest paid every year according to what flatters its operating cash flows.","es":""},"explanation":{"fr":"","en":"False: the classification adopted is applied consistently from period to period (IAS 7, para. 31, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Changing the classification of interest every year: the classification chosen is applied consistently.","es":""},"format":"TRUE_FALSE","answer":false,"id":"P2","dimension":"RULE_KNOWLEDGE"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000034","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"ANALYSIS","format":"MULTIPLE_CHOICE","context":"PHARMA","tested_point":"IAS7_PRESENTATION_JUDGMENT","difficulty":"EXPERT","estimated_time_s":150,"lesson_id":"LS.IAS7.000004","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"judgment"},"references":["IAS 7 §10","IAS 7 §11","IAS 7 §12"],"exercise":{"prompt":{"fr":"","en":"The CFO of Isoval, a fictitious laboratory, proposes several presentations. Which are acceptable?","es":""},"explanation":{"fr":"","en":"Tailored and detailed presentation (IAS 7, para. 11), within the three activities (IAS 7, para. 10), with mixed transactions split (IAS 7, para. 12, wording before IFRS 18).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Isolating on a separate line the significant payments for a plant construction programme","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Splitting loan instalments between capital and interest","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Creating a \"miscellaneous flows\" heading outside the three activities","es":""},"correct":false,"feedback":{"fr":"","en":"Every cash flow belongs to one of the three activities.","es":""}},{"id":"D","text":{"fr":"","en":"Presenting whole instalments as financing, interest included, without splitting them","es":""},"correct":false,"feedback":{"fr":"","en":"Capital and interest are split.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000035","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"RETAIL","tested_point":"IAS7_OPERATING_EXAMPLES","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS7.000005","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"examples"},"references":["IAS 7 §14"],"exercise":{"prompt":{"fr":"","en":"A retailer's payments to suppliers of goods are operating cash flows.","es":""},"explanation":{"fr":"","en":"True: cash payments to suppliers for goods and services linked to the main activity are operating cash flows (IAS 7, para. 14).","es":""},"common_error":{"fr":"","en":"Classifying payments for goods as investing: linked to the main activity, they are operating.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000036","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"MEDIA","tested_point":"IAS7_OPERATING_EXAMPLES","difficulty":"BEGINNER","estimated_time_s":90,"lesson_id":"LS.IAS7.000005","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"examples"},"references":["IAS 7 §14","IAS 7 §16","IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"Saldane Media, a fictitious press group, lists its cash flows. Which are operating?","es":""},"explanation":{"fr":"","en":"Customers, royalties, employees and taxes are operating; the press is investing, the issue financing (IAS 7, paras. 14, 16 and 17).","es":""},"common_error":{"fr":"","en":"Classifying the press or the share issue as operating: the former is investing, the latter financing.","es":""},"format":"CLASSIFICATION","categories":[{"id":"OP","text":{"fr":"","en":"Operating activities","es":""}},{"id":"OTHER","text":{"fr":"","en":"Other activity","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Subscriptions collected","es":""},"category":"OP"},{"id":"I2","text":{"fr":"","en":"Photo rights royalties collected","es":""},"category":"OP"},{"id":"I3","text":{"fr":"","en":"Journalists' salaries","es":""},"category":"OP"},{"id":"I4","text":{"fr":"","en":"Income tax paid","es":""},"category":"OP"},{"id":"I5","text":{"fr":"","en":"Purchase of a printing press","es":""},"category":"OTHER"},{"id":"I6","text":{"fr":"","en":"Issue of new shares","es":""},"category":"OTHER"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000037","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"MANUFACTURING","tested_point":"IAS7_DISPOSAL_PROCEEDS","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS7.000005","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"disposal-gain"},"references":["IAS 7 §14"],"exercise":{"prompt":{"fr":"","en":"Pratyl, a fictitious packaging maker, sells a production line: carrying amount 210,000, price received 260,000, gain 50,000 in profit. Classification?","es":""},"explanation":{"fr":"","en":"The gain goes through profit, but the disposal cash flow is investing (IAS 7, para. 14).","es":""},"common_error":{"fr":"","en":"Keeping the disposal proceeds in operating cash flows because the gain is in profit.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Investing +260,000; the gain is not a cash flow","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Operating +260,000, because the gain is in profit","es":""},"correct":false,"feedback":{"fr":"","en":"The disposal cash flow is investing.","es":""}},{"id":"C","text":{"fr":"","en":"Operating +50,000 and investing +210,000","es":""},"correct":false,"feedback":{"fr":"","en":"The price received is not split.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000038","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"AUTOMOTIVE","tested_point":"IAS7_RENTAL_ASSETS","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS7.000005","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"rental-and-trading"},"references":["IAS 7 §14"],"exercise":{"prompt":{"fr":"","en":"Calpino, a fictitious car rental company, buys vehicles every year that it rents out for 18 months and then sells in the ordinary course of business. N purchases (4,000,000) are presented:","es":""},"explanation":{"fr":"","en":"Payments to acquire assets held for rental and then sale → operating, as are the rents and resale proceeds (IAS 7, para. 14).","es":""},"common_error":{"fr":"","en":"Classifying as investing the purchase of assets held for rental then sale.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"In operating activities","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"In investing activities","es":""},"correct":false,"feedback":{"fr":"","en":"Exception for assets rented out then held for sale.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000039","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"APPLICATION","format":"TRUE_FALSE","context":"BANKING","tested_point":"IAS7_TRADING_SECURITIES","difficulty":"INTERMEDIATE","estimated_time_s":45,"lesson_id":"LS.IAS7.000005","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"rental-and-trading"},"references":["IAS 7 §15"],"exercise":{"prompt":{"fr":"","en":"A fictitious brokerage firm buys bonds that it holds for dealing purposes in order to resell them quickly. These purchases are investing cash flows.","es":""},"explanation":{"fr":"","en":"False: dealing securities, similar to inventory → operating (IAS 7, para. 15).","es":""},"common_error":{"fr":"","en":"Classifying as investing the purchase of securities held for dealing.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000040","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"TECHNOLOGY","tested_point":"IAS7_OPERATING_INDICATOR","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IAS7.000005","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"indicator"},"references":["IAS 7 §13"],"exercise":{"prompt":{"fr":"","en":"Complete.","es":""},"explanation":{"fr":"","en":"The amount of operating cash flows shows the extent to which the entity has generated enough cash to repay loans, maintain capacity, pay dividends and invest without external financing (IAS 7, para. 13).","es":""},"common_error":{"fr":"","en":"Choosing “operating” or “tax”: the indicator measures the ability to do without external financing.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"The amount of operating cash flows indicates the extent to which the entity has been able to repay loans, maintain capability, pay dividends and invest without recourse to {{b1}} sources of finance.","es":""},"blanks":[{"id":"b1","mode":"CHOICE","choices":[{"id":"C1","text":{"fr":"","en":"external","es":""}},{"id":"C2","text":{"fr":"","en":"operating","es":""}},{"id":"C3","text":{"fr":"","en":"tax","es":""}}],"answer":"C1"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000041","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"LOGISTICS","tested_point":"IAS7_OPERATING_REVIEW","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000005","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"pitfalls"},"references":["IAS 7 §14"],"exercise":{"prompt":{"fr":"","en":"Review the classification proposed for Estrival, a fictitious logistics company. Spot the errors.","es":""},"explanation":{"fr":"","en":"Asset disposal → investing; taxes → operating unless identified (IAS 7, para. 14).","es":""},"format":"ERROR_SPOT","statements":[{"id":"E1","text":{"fr":"","en":"The sale of a warehouse (900,000, gain 300,000) is operating, since the gain increases profit.","es":""},"erroneous":true,"correction":{"fr":"","en":"Investing +900,000.","es":""}},{"id":"E2","text":{"fr":"","en":"Drivers' wages are operating.","es":""},"erroneous":false},{"id":"E3","text":{"fr":"","en":"Fleet insurance premiums paid are operating.","es":""},"erroneous":false},{"id":"E4","text":{"fr":"","en":"The income tax refund received is classified as financing.","es":""},"erroneous":true,"correction":{"fr":"","en":"Operating, absent specific identification with financing or investing.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000042","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"RECOGNITION","format":"MATCHING","context":"AGRIFOOD","tested_point":"IAS7_OPERATING_MATCH","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000005","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"how"},"references":["IAS 7 §14"],"exercise":{"prompt":{"fr":"","en":"Match each cash flow of Dravena, a fictitious dairy cooperative, with its classification.","es":""},"explanation":{"fr":"","en":"Sales, commissions and dealing contracts → operating; asset disposal → investing (IAS 7, para. 14).","es":""},"common_error":{"fr":"","en":"Classifying the trading forward contracts as investing: held for trading, they are operating.","es":""},"format":"MATCHING","left":[{"id":"L1","text":{"fr":"","en":"Milk sold to processors","es":""}},{"id":"L2","text":{"fr":"","en":"Resale of an old tanker","es":""}},{"id":"L3","text":{"fr":"","en":"Milk futures held for dealing","es":""}},{"id":"L4","text":{"fr":"","en":"Collection commissions received","es":""}}],"right":[{"id":"R2","text":{"fr":"","en":"Investing: disposal","es":""}},{"id":"R3","text":{"fr":"","en":"Operating: dealing","es":""}},{"id":"R4","text":{"fr":"","en":"Operating: commissions","es":""}},{"id":"R1","text":{"fr":"","en":"Operating: sales","es":""}}],"pairs":[{"left":"L1","right":"R1"},{"left":"L2","right":"R2"},{"left":"L3","right":"R3"},{"left":"L4","right":"R4"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000043","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"PHARMA","tested_point":"IAS7_OPERATING_EXAMPLES","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000005","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"examples"},"references":["IAS 7 §14"],"exercise":{"prompt":{"fr":"","en":"Which of these cash flows are operating by default?","es":""},"explanation":{"fr":"","en":"Examples of operating cash flows (IAS 7, para. 14).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Payments to and on behalf of employees","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Income tax payments that cannot be identified","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Fees and commissions received","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Proceeds from the sale of a laboratory","es":""},"correct":false,"feedback":{"fr":"","en":"Investing.","es":""}}]},"scope":"CORE_STUDENT","reserve":true},{"key":"LX.IAS7.000044","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"TRANSPORT","tested_point":"IAS7_AMBIGUOUS_FLOW","difficulty":"EXPERT","estimated_time_s":480,"lesson_id":"LS.IAS7.000005","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"judgment"},"references":["IAS 7 §14"],"exercise":{"prompt":{"fr":"","en":"Help Hestane Mobility, a fictitious shared e-scooter operator, classify its cash flows.","es":""},"explanation":{"fr":"","en":"The business model determines the exception for assets rented out then sold (IAS 7, para. 14).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Hestane buys e-scooters that it operates in per-minute rental for 24 months, then systematically resells to a recycler as part of its normal business (case data). In N: scooter purchases 3,000,000; rentals collected 5,200,000; end-of-cycle resales 240,000; sale of the maintenance workshop 800,000 (gain 150,000).","es":""},"parts":[{"prompt":{"fr":"","en":"Classify the cash flows.","es":""},"explanation":{"fr":"","en":"Rental-then-sale cycle → operating; the workshop is a long-term asset disposed of → investing (IAS 7, para. 14).","es":""},"common_error":{"fr":"","en":"Classifying scooter purchases and resales as investing: the rent-then-sell cycle is operating.","es":""},"format":"CLASSIFICATION","categories":[{"id":"OP","text":{"fr":"","en":"Operating activities","es":""}},{"id":"INV","text":{"fr":"","en":"Investing activities","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Scooter purchases","es":""},"category":"OP"},{"id":"I2","text":{"fr":"","en":"Rentals collected","es":""},"category":"OP"},{"id":"I3","text":{"fr":"","en":"End-of-cycle resales","es":""},"category":"OP"},{"id":"I4","text":{"fr":"","en":"Sale of the workshop","es":""},"category":"INV"}],"id":"P1","dimension":"APPLICATION"},{"prompt":{"fr":"","en":"Calculate the amounts presented (excluding other cash flows).","es":""},"explanation":{"fr":"","en":"5,200,000 + 240,000 − 3,000,000 = 2,440,000; investing +800,000 (price received, not the gain) (IAS 7, para. 14).","es":""},"common_error":{"fr":"","en":"Presenting the gain on selling the workshop: the investing flow is the price received, not the gain.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Purchases","es":""},"value":"3000000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Operating cash flows from these transactions","es":""},"answer":2440000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Investing cash flows","es":""},"answer":800000,"tolerance":0,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Operating cash flows from these transactions","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"rentals collected 5,200,000","es":""},"value":5200000},{"symbol":"b","meaning":{"fr":"","en":"end-of-cycle resales 240,000","es":""},"value":240000},{"symbol":"c","meaning":{"fr":"","en":"Purchases","es":""},"value":3000000,"unit":"EUR"}],"result":2440000,"unit":"EUR"}],"references":["REF.IAS7.14"]}},{"prompt":{"fr":"","en":"The classification note must describe the scooter life cycle that justifies presenting them as operating.","es":""},"explanation":{"fr":"","en":"True: the exception depends on the business model, which must be justified (IAS 7, para. 14).","es":""},"common_error":{"fr":"","en":"Presenting the scooters in operating without justification: the exception rests on the business model, to be documented.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P3","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000045","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"PHARMA","tested_point":"IAS7_RECOGNISED_ASSET","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS7.000006","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"recognised-asset"},"references":["IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"Research costs paid by a laboratory and recognised as an expense may be classified as investing activities.","es":""},"explanation":{"fr":"","en":"False: only expenditures resulting in a recognised asset are eligible (IAS 7, para. 16).","es":""},"common_error":{"fr":"","en":"Classifying an expensed cost as investing.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000046","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"RECOGNITION","format":"SINGLE_CHOICE","context":"RETAIL","tested_point":"IAS7_INVESTING_EXAMPLES","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS7.000006","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"examples"},"references":["IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"A distributor buys 5% of the shares of a supplier, with no dealing intention. Classification of the payment?","es":""},"explanation":{"fr":"","en":"Acquisition of equity instruments of other entities → investing (IAS 7, para. 16).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Investing activities","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Financing activities","es":""},"correct":false,"feedback":{"fr":"","en":"The entity does not raise funds: it invests funds.","es":""}},{"id":"C","text":{"fr":"","en":"Operating activities","es":""},"correct":false,"feedback":{"fr":"","en":"No dealing: these are not inventory-like securities.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000047","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"TECHNOLOGY","tested_point":"IAS7_INVESTING_SORT","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000006","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"examples"},"references":["IAS 7 §16","IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"Jolvane, a fictitious software publisher, classifies its N cash flows.","es":""},"explanation":{"fr":"","en":"Recognised assets and loans to third parties → investing; expensed research → operating; borrowing → financing (IAS 7, paras. 16 and 17).","es":""},"common_error":{"fr":"","en":"Classifying research expensed as investing: with no recognised asset, it stays operating.","es":""},"format":"CLASSIFICATION","categories":[{"id":"OP","text":{"fr":"","en":"Operating activities","es":""}},{"id":"INV","text":{"fr":"","en":"Investing activities","es":""}},{"id":"FIN","text":{"fr":"","en":"Financing activities","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Development of a module, capitalised","es":""},"category":"INV"},{"id":"I2","text":{"fr":"","en":"Exploratory research expensed","es":""},"category":"OP"},{"id":"I3","text":{"fr":"","en":"Loan granted to a partner start-up","es":""},"category":"INV"},{"id":"I4","text":{"fr":"","en":"Repayment received on a loan granted","es":""},"category":"INV"},{"id":"I5","text":{"fr":"","en":"Repayment of a bank loan","es":""},"category":"FIN"},{"id":"I6","text":{"fr":"","en":"Purchase of servers","es":""},"category":"INV"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000048","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"CALCULATION","format":"CALCULATION","context":"MANUFACTURING","tested_point":"IAS7_PPE_ROLLFORWARD","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IAS7.000006","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"numeric-example"},"references":["IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"Calculate the acquisitions paid by Delmaro, a fictitious boiler maker (case data).","es":""},"explanation":{"fr":"","en":"Acquisitions = 3,540,000 − 3,200,000 + 410,000 + 150,000 = 900,000; paid = 900,000 − 180,000 + 60,000 = 780,000 (IAS 7, para. 16).","es":""},"common_error":{"fr":"","en":"Including in payments an acquisition on supplier credit not yet settled.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Carrying amount 1/1/N","es":""},"value":"3200000","unit":"EUR"},{"label":{"fr":"","en":"Depreciation N","es":""},"value":"410000","unit":"EUR"},{"label":{"fr":"","en":"Carrying amount disposed of","es":""},"value":"150000","unit":"EUR"},{"label":{"fr":"","en":"Carrying amount 31/12/N","es":""},"value":"3540000","unit":"EUR"},{"label":{"fr":"","en":"Fixed-asset supplier payable opening / closing","es":""},"value":"60000 / 180000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Acquisitions for the year","es":""},"answer":900000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Acquisitions paid","es":""},"answer":780000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Acquisitions for the year","es":""},"expression":"a - b + c + d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Carrying amount 31/12/N","es":""},"value":3540000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Carrying amount 1/1/N","es":""},"value":3200000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Depreciation N","es":""},"value":410000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Carrying amount disposed of","es":""},"value":150000,"unit":"EUR"}],"result":900000,"unit":"EUR"}],"references":["REF.IAS7.16"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000049","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"CALCULATION","format":"CALCULATION","context":"CONSTRUCTION","tested_point":"IAS7_DISPOSAL_PROCEEDS_CALC","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IAS7.000006","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"numeric-example"},"references":["IAS 7 §14","IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"A crane (carrying amount 90,000) is sold at a loss of 20,000. What amount appears in investing?","es":""},"explanation":{"fr":"","en":"90,000 − 20,000 = 70,000, presented as an investing inflow (IAS 7, paras. 14 and 16).","es":""},"common_error":{"fr":"","en":"Using the carrying amount disposed of instead of the disposal proceeds.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Carrying amount","es":""},"value":"90000","unit":"EUR"},{"label":{"fr":"","en":"Loss on disposal","es":""},"value":"20000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Disposal proceeds received","es":""},"answer":70000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Disposal proceeds received","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Carrying amount","es":""},"value":90000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Loss on disposal","es":""},"value":20000,"unit":"EUR"}],"result":70000,"unit":"EUR"}],"rationale":{"fr":"","en":"90,000 − 20,000 = 70,000, presented as an investing inflow (IAS 7, paras. 14 and 16).","es":""},"references":["REF.IAS7.14","REF.IAS7.16"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000050","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"AGRIFOOD","tested_point":"IAS7_DISPOSAL_ENTRY","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IAS7.000006","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"entry"},"references":["IAS 7 §14","IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"Larvane, a fictitious flour mill, sells a silo (cost 400,000, accumulated depreciation 310,000) for 120,000 received. Record the entry.","es":""},"explanation":{"fr":"","en":"Carrying amount 90,000, price 120,000 → gain 30,000. Only the bank line is a cash flow: +120,000 in investing (IAS 7, paras. 14 and 16).","es":""},"common_error":{"fr":"","en":"Recognising the disposal as revenue.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"BANK","text":{"fr":"","en":"Bank","es":""}},{"id":"ACCDEP","text":{"fr":"","en":"Accumulated depreciation","es":""}},{"id":"SILO","text":{"fr":"","en":"Silos (cost)","es":""}},{"id":"GAIN","text":{"fr":"","en":"Gain on disposal","es":""}},{"id":"REV","text":{"fr":"","en":"Revenue","es":""}}],"lines":[{"id":"L1","account":"BANK","side":"DEBIT","amount":120000},{"id":"L2","account":"ACCDEP","side":"DEBIT","amount":310000},{"id":"L3","account":"SILO","side":"CREDIT","amount":400000},{"id":"L4","account":"GAIN","side":"CREDIT","amount":30000}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000051","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"JOURNAL_ENTRY","format":"MINI_CASE","context":"MANUFACTURING","tested_point":"IAS7_SUPPLIER_CREDIT_PURCHASE","difficulty":"ADVANCED","estimated_time_s":390,"lesson_id":"LS.IAS7.000006","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"how"},"references":["IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"Link the acquisition entry of Valdric, a fictitious valve maker, to the cash flow presented.","es":""},"explanation":{"fr":"","en":"The deferred part is not an N cash flow (IAS 7, para. 16).","es":""},"common_error":{"fr":"","en":"Including in payments an acquisition financed by the fixed-asset supplier.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"On 1/10/N, Valdric receives a press costing 300,000; it pays 200,000 in cash, the balance being payable to the supplier on 31/3/N+1 (case data).","es":""},"parts":[{"prompt":{"fr":"","en":"Record the entry on 1/10/N.","es":""},"explanation":{"fr":"","en":"Only the part paid affects the bank (IAS 7, para. 16).","es":""},"common_error":{"fr":"","en":"Crediting the bank with 300,000: only the part paid affects cash; the rest is a liability.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"PPE","text":{"fr":"","en":"Plant (cost)","es":""}},{"id":"BANK","text":{"fr":"","en":"Bank","es":""}},{"id":"FAP","text":{"fr":"","en":"Payables to fixed-asset suppliers","es":""}},{"id":"LOAN","text":{"fr":"","en":"Bank loans","es":""}}],"lines":[{"id":"L1","account":"PPE","side":"DEBIT","amount":300000},{"id":"L2","account":"BANK","side":"CREDIT","amount":200000},{"id":"L3","account":"FAP","side":"CREDIT","amount":100000}],"id":"P1","dimension":"JOURNAL_ENTRY"},{"prompt":{"fr":"","en":"Amount presented in investing in N and in N+1.","es":""},"explanation":{"fr":"","en":"The cash flow follows the payment: 200,000 in N, 100,000 in N+1 (IAS 7, para. 16).","es":""},"common_error":{"fr":"","en":"Presenting 300,000 in year N: the investing flow follows payment, split between N and N+1.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Cost of the press","es":""},"value":"300000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Payment N","es":""},"answer":200000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Payment N+1","es":""},"answer":100000,"tolerance":0,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000052","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"TELECOM","tested_point":"IAS7_INVESTING_REVIEW","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000006","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"pitfalls"},"references":["IAS 7 §14","IAS 7 §16","IAS 7 §21"],"exercise":{"prompt":{"fr":"","en":"Review the investing block of Restane Telecom, a fictitious operator. Spot the errors.","es":""},"explanation":{"fr":"","en":"Gross lines; non-cash acquisitions excluded; price received (IAS 7, paras. 14, 16 and 21).","es":""},"common_error":{"fr":"","en":"Offsetting acquisitions and disposals or using the carrying amount disposed of.","es":""},"format":"ERROR_SPOT","statements":[{"id":"E1","text":{"fr":"","en":"\"Net investments: −1,300,000\" (acquisitions 1,500,000, disposals 200,000).","es":""},"erroneous":true,"correction":{"fr":"","en":"Present separately acquisitions −1,500,000 and disposals +200,000.","es":""}},{"id":"E2","text":{"fr":"","en":"Antennas received under leases do not appear as acquisitions.","es":""},"erroneous":false},{"id":"E3","text":{"fr":"","en":"The disposal of old equipment appears at its carrying amount of 140,000 (price 110,000).","es":""},"erroneous":true,"correction":{"fr":"","en":"The cash flow is the price received, 110,000.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000053","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"ENERGY","tested_point":"IAS7_DERIVATIVES","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000006","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"examples"},"references":["IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"Cash flows from futures, forwards, options and swaps are investing, unless they are:","es":""},"explanation":{"fr":"","en":"Exception for dealing and for contracts classified as financing (IAS 7, para. 16).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"held for dealing or trading purposes","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"classified as financing activities","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"entered into with a 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lines","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000056","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"PHARMA","tested_point":"IAS7_DEVELOPMENT_SWITCH","difficulty":"EXPERT","estimated_time_s":480,"lesson_id":"LS.IAS7.000006","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"judgment"},"references":["IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"Analyse the project of Brennic Health, a fictitious laboratory.","es":""},"explanation":{"fr":"","en":"Classification as investing follows the recognition of the asset (IAS 7, para. 16).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"In N, Brennic pays 1,800,000 on a medical device project: 700,000 until 30/4/N (phase in which the capitalisation criteria are not met, amounts expensed), then 1,100,000 after that date (amounts capitalised; meeting the criteria is established by Brennic, case data). Brennic also builds a clean room itself: 400,000 of costs paid and capitalised.","es":""},"parts":[{"prompt":{"fr":"","en":"Calculate the amounts.","es":""},"explanation":{"fr":"","en":"Investing: 1,100,000 + 400,000 = 1,500,000 (recognised assets, including the self-constructed asset); 700,000 expensed → operating (IAS 7, para. 16).","es":""},"common_error":{"fr":"","en":"Classifying the whole project as investing: only the part recognised as an asset is; the part expensed is operating.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Total paid on the project","es":""},"value":"1800000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Investing payments","es":""},"answer":1500000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Operating payments","es":""},"answer":700000,"tolerance":0,"unit":"EUR"}],"id":"P1","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Investing payments","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"then 1,100,000 after that date","es":""},"value":1100000},{"symbol":"b","meaning":{"fr":"","en":"400,000 of costs paid and capitalised","es":""},"value":400000}],"result":1500000,"unit":"EUR"}],"references":["REF.IAS7.16"]}},{"prompt":{"fr":"","en":"The CFO wants to reclassify the 700,000 as investing \"since the project succeeded\". Answer?","es":""},"explanation":{"fr":"","en":"Recognised asset condition (IAS 7, para. 16).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Refuse: these expenditures did not result in a recognised asset","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Accept: the project's success justifies the reclassification","es":""},"correct":false,"feedback":{"fr":"","en":"The statement follows recognition, not the final outcome of the project.","es":""}}],"id":"P2","dimension":"PROFESSIONAL_JUDGMENT"},{"prompt":{"fr":"","en":"The file must state the date of the switch to the asset and reconcile the payments with the intangibles roll-forward.","es":""},"explanation":{"fr":"","en":"True: the expense / asset boundary determines the classification (IAS 7, para. 16).","es":""},"common_error":{"fr":"","en":"Classifying the payments without dating the switch to an asset: that boundary determines the classification.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P3","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000057","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"RETAIL","tested_point":"IAS7_LEASE_PRINCIPAL","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS7.000007","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"leases"},"references":["IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"A lessee's payments that reduce its lease liability are financing cash flows.","es":""},"explanation":{"fr":"","en":"True: cash payments by a lessee that reduce its lease liability are financing cash flows (IAS 7, para. 17).","es":""},"common_error":{"fr":"","en":"Classifying as operating the portion of lease payments that reduces the lease liability: it is a financing flow.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000058","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"RECOGNITION","format":"SINGLE_CHOICE","context":"TECHNOLOGY","tested_point":"IAS7_FINANCING_EXAMPLES","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS7.000007","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"examples"},"references":["IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"An entity buys back 300,000 of its own shares. Classification?","es":""},"explanation":{"fr":"","en":"Payments to owners to redeem the entity's shares → financing (IAS 7, para. 17).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Financing activities","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Investing activities","es":""},"correct":false,"feedback":{"fr":"","en":"These are not securities of another entity.","es":""}},{"id":"C","text":{"fr":"","en":"Operating activities","es":""},"correct":false,"feedback":{"fr":"","en":"This is not the principal activity.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000059","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"REAL_ESTATE","tested_point":"IAS7_FINANCING_SORT","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000007","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"examples"},"references":["IAS 7 §12","IAS 7 §16","IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"Lemorne Property, a fictitious property company (policy: interest paid as operating), classifies its cash flows.","es":""},"explanation":{"fr":"","en":"Borrowings, equity and capital element of leases → financing (IAS 7, para. 17); interest under the policy, here operating (IAS 7, para. 12, wording before IFRS 18); building → investing (IAS 7, para. 16).","es":""},"common_error":{"fr":"","en":"Classifying interest as financing despite the policy chosen, or the building purchase as financing: interest follows the policy, the building is investing.","es":""},"format":"CLASSIFICATION","categories":[{"id":"OP","text":{"fr":"","en":"Operating activities","es":""}},{"id":"INV","text":{"fr":"","en":"Investing activities","es":""}},{"id":"FIN","text":{"fr":"","en":"Financing activities","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Mortgage loan obtained","es":""},"category":"FIN"},{"id":"I2","text":{"fr":"","en":"Repayment of commercial paper","es":""},"category":"FIN"},{"id":"I3","text":{"fr":"","en":"Cash capital increase","es":""},"category":"FIN"},{"id":"I4","text":{"fr":"","en":"Capital element of rent on a leased office","es":""},"category":"FIN"},{"id":"I5","text":{"fr":"","en":"Interest paid on the mortgage loan","es":""},"category":"OP"},{"id":"I6","text":{"fr":"","en":"Purchase of a building","es":""},"category":"INV"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000060","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"CALCULATION","format":"CALCULATION","context":"MANUFACTURING","tested_point":"IAS7_LOAN_ROLLFORWARD","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IAS7.000007","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"numeric-example"},"references":["IAS 7 §17","IAS 7 §43"],"exercise":{"prompt":{"fr":"","en":"Calculate the loan repayments of Mervane, a fictitious cable maker (case data).","es":""},"explanation":{"fr":"","en":"3,600,000 + 900,000 − 500,000 − 3,250,000 = 750,000; the conversion is not a cash flow (IAS 7, paras. 17 and 43).","es":""},"common_error":{"fr":"","en":"Deriving repayments from the change in balances alone, ignoring non-cash changes.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Borrowings at 1/1/N","es":""},"value":"3600000","unit":"EUR"},{"label":{"fr":"","en":"Drawdowns in N","es":""},"value":"900000","unit":"EUR"},{"label":{"fr":"","en":"Bonds converted into shares","es":""},"value":"500000","unit":"EUR"},{"label":{"fr":"","en":"Borrowings at 31/12/N","es":""},"value":"3250000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Repayments paid","es":""},"answer":750000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Repayments paid","es":""},"expression":"a + b - c - d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Borrowings at 1/1/N","es":""},"value":3600000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Drawdowns in N","es":""},"value":900000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Bonds converted into shares","es":""},"value":500000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Borrowings at 31/12/N","es":""},"value":3250000,"unit":"EUR"}],"result":750000,"unit":"EUR"}],"references":["REF.IAS7.17","REF.IAS7.43"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000061","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"CALCULATION","format":"CALCULATION","context":"LOGISTICS","tested_point":"IAS7_LEASE_PRINCIPAL_CALC","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IAS7.000007","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"how"},"references":["IAS 7 §12","IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"Lease liability of Rosvane, a fictitious logistics company (case data; interest paid classified as operating). Calculate.","es":""},"explanation":{"fr":"","en":"Payments = 1,200,000 + 400,000 + 60,000 − 1,150,000 = 510,000; capital 510,000 − 60,000 = 450,000 as financing; interest 60,000 as operating under the policy (IAS 7, paras. 12 and 17, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Forgetting the new leases, which are non-cash, in the reconstruction.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Opening","es":""},"value":"1200000","unit":"EUR"},{"label":{"fr":"","en":"New leases","es":""},"value":"400000","unit":"EUR"},{"label":{"fr":"","en":"Interest for the year (all paid)","es":""},"value":"60000","unit":"EUR"},{"label":{"fr":"","en":"Closing","es":""},"value":"1150000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Total lease payments","es":""},"answer":510000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Capital element (financing)","es":""},"answer":450000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Total lease payments","es":""},"expression":"a + b + c - d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Opening","es":""},"value":1200000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"New leases","es":""},"value":400000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Interest for the year (all paid)","es":""},"value":60000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Closing","es":""},"value":1150000,"unit":"EUR"}],"result":510000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Capital element (financing)","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Total lease payments","es":""},"value":510000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Interest for the year (all paid)","es":""},"value":60000,"unit":"EUR"}],"result":450000,"unit":"EUR"}],"references":["REF.IAS7.12","REF.IAS7.17"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000062","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"HEALTHCARE","tested_point":"IAS7_LEASE_PAYMENT_ENTRY","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IAS7.000007","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"entry"},"references":["IAS 7 §12","IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"Tuvane, a fictitious clinic, pays lease rent of 36,000: 30,000 of capital and 6,000 of interest already recognised as accrued interest. Record the payment entry.","es":""},"explanation":{"fr":"","en":"Capital 30,000 → financing; interest 6,000 → under the policy (IAS 7, paras. 12 and 17, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Recognising the payment as rent expense and classifying it as operating.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"LL","text":{"fr":"","en":"Lease liability","es":""}},{"id":"ACCR","text":{"fr":"","en":"Accrued interest","es":""}},{"id":"BANK","text":{"fr":"","en":"Bank","es":""}},{"id":"RENT","text":{"fr":"","en":"Rent expense","es":""}}],"lines":[{"id":"L1","account":"LL","side":"DEBIT","amount":30000},{"id":"L2","account":"ACCR","side":"DEBIT","amount":6000},{"id":"L3","account":"BANK","side":"CREDIT","amount":36000}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000063","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"CONSTRUCTION","tested_point":"IAS7_LOAN_DRAWDOWN_ENTRY","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IAS7.000007","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"entry"},"references":["IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"Cassane, a fictitious construction company, draws 750,000 on a 7-year loan. Record the entry.","es":""},"explanation":{"fr":"","en":"Loan proceeds → +750,000 in financing (IAS 7, para. 17).","es":""},"common_error":{"fr":"","en":"Classifying the drawdown as operating or investing: borrowing proceeds are a financing flow.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"BANK","text":{"fr":"","en":"Bank","es":""}},{"id":"LOAN","text":{"fr":"","en":"Bank borrowings","es":""}},{"id":"REV","text":{"fr":"","en":"Finance income","es":""}}],"lines":[{"id":"L1","account":"BANK","side":"DEBIT","amount":750000},{"id":"L2","account":"LOAN","side":"CREDIT","amount":750000}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000064","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"RETAIL","tested_point":"IAS7_FINANCING_REVIEW","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000007","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"pitfalls"},"references":["IAS 7 §17","IAS 7 §43"],"exercise":{"prompt":{"fr":"","en":"Review the financing block of Folvane, a fictitious DIY chain. Spot the errors.","es":""},"explanation":{"fr":"","en":"Payments reducing the lease liability → financing (IAS 7, para. 17); non-cash transactions excluded (IAS 7, para. 43).","es":""},"common_error":{"fr":"","en":"Classifying the capital element of lease payments as operating.","es":""},"format":"ERROR_SPOT","statements":[{"id":"E1","text":{"fr":"","en":"The capital element of store lease payments (2,100,000) is classified as operating, because they are rents.","es":""},"erroneous":true,"correction":{"fr":"","en":"Financing: it reduces the lease liability.","es":""}},{"id":"E2","text":{"fr":"","en":"New leases signed (right-of-use assets 900,000) appear as a financing inflow.","es":""},"erroneous":true,"correction":{"fr":"","en":"No cash received: transaction excluded from the statement.","es":""}},{"id":"E3","text":{"fr":"","en":"The repayment of a revolving credit facility is financing.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000065","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"BANKING","tested_point":"IAS7_FINANCING_PURPOSE","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS7.000007","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"why"},"references":["IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"Why does IAS 7 require financing cash flows to be presented separately?","es":""},"explanation":{"fr":"","en":"Predicting claims by providers of capital (IAS 7, para. 17).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"To help predict claims on future cash flows by providers of capital","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"To calculate earnings per share","es":""},"correct":false,"feedback":{"fr":"","en":"This is not the stated purpose.","es":""}},{"id":"C","text":{"fr":"","en":"To measure the return on investments","es":""},"correct":false,"feedback":{"fr":"","en":"This is not the stated purpose.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000066","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"APPLICATION","format":"MINI_CASE","context":"MANUFACTURING","tested_point":"IAS7_FINANCING_BLOCK","difficulty":"EXPERT","estimated_time_s":480,"lesson_id":"LS.IAS7.000007","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"judgment"},"references":["IAS 7 §17","IAS 7 §34","IAS 7 §43","IAS 7 §44"],"exercise":{"prompt":{"fr":"","en":"Build the financing block of Zelmar, a fictitious pump maker.","es":""},"explanation":{"fr":"","en":"Rebuild each liability, isolating non-cash changes (IAS 7, paras. 17 and 43).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"N data (entity policies: interest paid as operating, dividends paid as financing): cash capital increase 1,000,000; borrowings: opening 2,500,000, drawdown 600,000, closing 2,700,000; lease liability: opening 300,000, new lease 120,000, interest 15,000 paid, closing 285,000; dividends paid 200,000.","es":""},"parts":[{"prompt":{"fr":"","en":"Calculate the components.","es":""},"explanation":{"fr":"","en":"Repayments 2,500,000 + 600,000 − 2,700,000 = 400,000; lease payments 300,000 + 120,000 + 15,000 − 285,000 = 150,000, of which capital 135,000; financing +1,000,000 + 600,000 − 400,000 − 135,000 − 200,000 = +865,000 (IAS 7, paras. 17 and 34, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Putting all lease payments in financing: only the principal portion goes there; and the new lease is not a cash flow.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Drawdown","es":""},"value":"600000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Loan repayments","es":""},"answer":400000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Capital element of lease payments","es":""},"answer":135000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Net cash from financing","es":""},"answer":865000,"tolerance":0,"unit":"EUR"}],"id":"P1","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Loan repayments","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"borrowings: opening 2,500,000","es":""},"value":2500000},{"symbol":"b","meaning":{"fr":"","en":"Drawdown","es":""},"value":600000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"closing 2,700,000","es":""},"value":2700000}],"result":400000,"unit":"EUR"}],"references":["REF.IAS7.17","REF.IAS7.34"]}},{"prompt":{"fr":"","en":"The new 120,000 lease increases N financing cash flows.","es":""},"explanation":{"fr":"","en":"False: no cash is received; the transaction is excluded from the statement and disclosed elsewhere (IAS 7, paras. 43 and 44).","es":""},"common_error":{"fr":"","en":"Presenting the new lease as a financing inflow: no cash is received.","es":""},"format":"TRUE_FALSE","answer":false,"id":"P2","dimension":"ANALYSIS"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000067","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"RECOGNITION","format":"MATCHING","context":"TRANSPORT","tested_point":"IAS7_FINANCING_MATCH","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000007","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"examples"},"references":["IAS 7 §16","IAS 7 §17","IAS 7 §43"],"exercise":{"prompt":{"fr":"","en":"Match each transaction of Wyllane Freight, a fictitious carrier, with its treatment in the statement.","es":""},"explanation":{"fr":"","en":"Financing (IAS 7, para. 17), non-cash transaction excluded (IAS 7, para. 43), investing (IAS 7, para. 16).","es":""},"common_error":{"fr":"","en":"Presenting the lease signing as a cash flow: it is a non-cash transaction, excluded from the statement.","es":""},"format":"MATCHING","left":[{"id":"L1","text":{"fr":"","en":"Bond issue received","es":""}},{"id":"L2","text":{"fr":"","en":"Repayment of a bank loan","es":""}},{"id":"L3","text":{"fr":"","en":"Signing of a truck lease (right-of-use asset)","es":""}},{"id":"L4","text":{"fr":"","en":"Purchase of a warehouse paid in cash","es":""}}],"right":[{"id":"R2","text":{"fr":"","en":"Financing outflow","es":""}},{"id":"R3","text":{"fr":"","en":"No cash flow: non-cash transaction","es":""}},{"id":"R4","text":{"fr":"","en":"Investing outflow","es":""}},{"id":"R1","text":{"fr":"","en":"Financing inflow","es":""}}],"pairs":[{"left":"L1","right":"R1"},{"left":"L2","right":"R2"},{"left":"L3","right":"R3"},{"left":"L4","right":"R4"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000068","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"RETAIL","tested_point":"IAS7_DIRECT_ENCOURAGED","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS7.000008","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"rule"},"references":["IAS 7 §19"],"exercise":{"prompt":{"fr":"","en":"IAS 7 encourages the use of the direct method to report operating cash flows.","es":""},"explanation":{"fr":"","en":"True: it provides information useful in estimating future cash flows (IAS 7, para. 19).","es":""},"common_error":{"fr":"","en":"Believing the standard requires the direct method: it only encourages it; the indirect method remains permitted.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000069","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"MANUFACTURING","tested_point":"IAS7_DIRECT_SOURCES","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS7.000008","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"sources"},"references":["IAS 7 §19"],"exercise":{"prompt":{"fr":"","en":"Mervane has no analysed cash book. Can it present the direct method?","es":""},"explanation":{"fr":"","en":"Two sources: accounting records or adjustments (IAS 7, para. 19).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Yes, by adjusting income and expenses for changes in inventories, receivables and payables","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"No, the direct method requires detailed bank statements","es":""},"correct":false,"feedback":{"fr":"","en":"A second source is provided for.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000070","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"CALCULATION","format":"CALCULATION","context":"RETAIL","tested_point":"IAS7_RECEIPTS_FROM_CUSTOMERS","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IAS7.000008","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"how"},"references":["IAS 7 §19"],"exercise":{"prompt":{"fr":"","en":"Erminel, a fictitious wholesaler, has revenue of 6,200,000. Trade receivables: 900,000 at 1/1/N, 1,150,000 at 31/12/N. Calculate receipts from customers.","es":""},"explanation":{"fr":"","en":"6,200,000 + 900,000 − 1,150,000 = 5,950,000 (IAS 7, para. 19).","es":""},"common_error":{"fr":"","en":"Reversing the direction of the change in trade receivables.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Revenue","es":""},"value":"6200000","unit":"EUR"},{"label":{"fr":"","en":"Opening receivables","es":""},"value":"900000","unit":"EUR"},{"label":{"fr":"","en":"Closing receivables","es":""},"value":"1150000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Receipts from customers","es":""},"answer":5950000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Receipts from customers","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Revenue","es":""},"value":6200000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening receivables","es":""},"value":900000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing receivables","es":""},"value":1150000,"unit":"EUR"}],"result":5950000,"unit":"EUR"}],"rationale":{"fr":"","en":"6,200,000 + 900,000 − 1,150,000 = 5,950,000 (IAS 7, para. 19).","es":""},"references":["REF.IAS7.19"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000071","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"CALCULATION","format":"CALCULATION","context":"AGRIFOOD","tested_point":"IAS7_PAYMENTS_TO_SUPPLIERS","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IAS7.000008","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"how"},"references":["IAS 7 §19"],"exercise":{"prompt":{"fr":"","en":"Calculate payments to suppliers of Pravel, a fictitious cannery (case data).","es":""},"explanation":{"fr":"","en":"Purchases 3,400,000 + 620,000 − 500,000 = 3,520,000; payments 3,520,000 + 450,000 − 520,000 = 3,450,000 (IAS 7, para. 19).","es":""},"common_error":{"fr":"","en":"Forgetting the change in inventories when calculating purchases paid.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Cost of sales (excluding depreciation)","es":""},"value":"3400000","unit":"EUR"},{"label":{"fr":"","en":"Inventories opening / closing","es":""},"value":"500000 / 620000","unit":"EUR"},{"label":{"fr":"","en":"Trade payables opening / closing","es":""},"value":"450000 / 520000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Purchases","es":""},"answer":3520000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Payments to suppliers","es":""},"answer":3450000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000072","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"CALCULATION","format":"FILL_BLANK","context":"HOSPITALITY","tested_point":"IAS7_PAYMENTS_TO_EMPLOYEES","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IAS7.000008","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"how"},"references":["IAS 7 §19"],"exercise":{"prompt":{"fr":"","en":"Complete.","es":""},"explanation":{"fr":"","en":"1,800,000 + 150,000 − 190,000 = 1,760,000 (IAS 7, para. 19).","es":""},"common_error":{"fr":"","en":"Adding the closing liability instead of deducting it: a rising liability means expenses not yet paid.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"Employee costs 1,800,000; payroll liabilities 150,000 at the opening and 190,000 at the closing. Payments to employees: {{b1}}.","es":""},"blanks":[{"id":"b1","mode":"NUMBER","answer":1760000,"tolerance":0}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000073","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"TECHNOLOGY","tested_point":"IAS7_DIRECT_DEFINITION","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IAS7.000008","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"rule"},"references":["IAS 7 §18"],"exercise":{"prompt":{"fr":"","en":"Complete.","es":""},"explanation":{"fr":"","en":"Definition of the two methods (IAS 7, para. 18, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Swapping the two methods: the indirect method starts from profit; the direct method shows gross flows.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"The direct method discloses the major classes of {{b1}} cash receipts and payments; the indirect method starts from {{b2}}.","es":""},"blanks":[{"id":"b1","mode":"CHOICE","choices":[{"id":"C1","text":{"fr":"","en":"gross","es":""}},{"id":"C2","text":{"fr":"","en":"net","es":""}}],"answer":"C1"},{"id":"b2","mode":"CHOICE","choices":[{"id":"C1","text":{"fr":"","en":"profit or loss","es":""}},{"id":"C2","text":{"fr":"","en":"revenue","es":""}}],"answer":"C1"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000074","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"MANUFACTURING","tested_point":"IAS7_DIRECT_REVIEW","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000008","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"pitfalls"},"references":["IAS 7 §19"],"exercise":{"prompt":{"fr":"","en":"Review the direct method calculation of Jolvane Industry, a fictitious company. Spot the errors.","es":""},"explanation":{"fr":"","en":"Adjust income and expenses for changes in receivables and non-cash items (IAS 7, para. 19).","es":""},"common_error":{"fr":"","en":"Reversing the direction of the change in trade receivables.","es":""},"format":"ERROR_SPOT","statements":[{"id":"E1","text":{"fr":"","en":"Receipts from customers = sales 5,000,000 + increase in receivables 200,000 = 5,200,000.","es":""},"erroneous":true,"correction":{"fr":"","en":"5,000,000 − 200,000 = 4,800,000.","es":""}},{"id":"E2","text":{"fr":"","en":"Depreciation of 300,000 is included in \"other expenses paid\".","es":""},"erroneous":true,"correction":{"fr":"","en":"Non-cash item, to be excluded.","es":""}},{"id":"E3","text":{"fr":"","en":"Payments to employees take the change in payroll liabilities into account.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000075","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"BANKING","tested_point":"IAS7_DIRECT_BENEFIT","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS7.000008","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"why"},"references":["IAS 7 §19"],"exercise":{"prompt":{"fr":"","en":"Which advantage does IAS 7 attribute to the direct method?","es":""},"explanation":{"fr":"","en":"Information useful in estimating future cash flows (IAS 7, para. 19).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It provides information useful in estimating future cash flows that the indirect method lacks","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"It gives a higher operating cash flow","es":""},"correct":false,"feedback":{"fr":"","en":"The total is the same whatever the method.","es":""}},{"id":"C","text":{"fr":"","en":"It removes the need to reconcile cash","es":""},"correct":false,"feedback":{"fr":"","en":"No such exemption.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000076","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"CALCULATION","format":"MINI_CASE","context":"RETAIL","tested_point":"IAS7_DIRECT_FULL","difficulty":"EXPERT","estimated_time_s":480,"lesson_id":"LS.IAS7.000008","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"numeric-example"},"references":["IAS 7 §18","IAS 7 §19","IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"Prepare the operating cash flow of Rosvane Retail, a fictitious chain, under the direct method, then check it.","es":""},"explanation":{"fr":"","en":"The direct and indirect methods give the same net cash flow (IAS 7, para. 18, wording before IFRS 18).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"N data (teaching assumption: no tax; interest paid as operating, entity policy): revenue 9,000,000; cost of sales 6,300,000; employee costs 1,400,000; other expenses 500,000, all paid; depreciation 350,000; interest 50,000, paid; profit 400,000. Trade receivables 700,000 → 640,000; inventories 1,100,000 → 1,250,000; trade payables 800,000 → 870,000; payroll liabilities unchanged.","es":""},"parts":[{"prompt":{"fr":"","en":"Direct method.","es":""},"explanation":{"fr":"","en":"Customers 9,000,000 + 60,000 = 9,060,000; purchases 6,300,000 + 150,000 = 6,450,000; suppliers 6,450,000 − 70,000 = 6,380,000; net 9,060,000 − 6,380,000 − 1,400,000 − 500,000 − 50,000 = 730,000 (IAS 7, para. 19).","es":""},"common_error":{"fr":"","en":"Using revenue or purchases without adjusting for changes in receivables, inventories and payables.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Revenue","es":""},"value":"9000000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Receipts from customers","es":""},"answer":9060000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Payments to suppliers","es":""},"answer":6380000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Net operating cash flows","es":""},"answer":730000,"tolerance":0,"unit":"EUR"}],"id":"P1","dimension":"CALCULATION","formula":{"lines":[{"step":"S3","meaning":{"fr":"","en":"Net operating cash flows","es":""},"expression":"a - b - c - d - e","variables":[{"symbol":"a","meaning":{"fr":"","en":"Receipts from customers","es":""},"value":9060000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Payments to suppliers","es":""},"value":6380000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"employee costs 1,400,000","es":""},"value":1400000},{"symbol":"d","meaning":{"fr":"","en":"other expenses 500,000","es":""},"value":500000},{"symbol":"e","meaning":{"fr":"","en":"interest 50,000","es":""},"value":50000}],"result":730000,"unit":"EUR"}],"references":["REF.IAS7.19"]}},{"prompt":{"fr":"","en":"Check using the indirect method: find the same total.","es":""},"explanation":{"fr":"","en":"400,000 + 350,000 + 60,000 − 150,000 + 70,000 = 730,000: the two methods agree (IAS 7, paras. 18 and 20, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Getting the sign of a working-capital change wrong: the total then no longer agrees with the direct method.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Profit","es":""},"value":"400000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Net operating cash flows (indirect)","es":""},"answer":730000,"tolerance":0,"unit":"EUR"}],"id":"P2","dimension":"ANALYSIS"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000077","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"RETAIL","tested_point":"IAS7_INDIRECT_START","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS7.000009","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §18"],"exercise":{"prompt":{"fr":"","en":"Under the currently applicable wording, the indirect method starts from profit or loss for the period.","es":""},"explanation":{"fr":"","en":"True: under the applicable wording, the indirect method starts from profit for the period, then adjusts it for non-cash items and working-capital changes (IAS 7, para. 18, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Thinking the indirect method starts from revenue or from cash: it starts from profit and adjusts it.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000078","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"MANUFACTURING","tested_point":"IAS7_INDIRECT_ADJUSTMENTS_SORT","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000009","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"For Brennic Industry, a fictitious company, should these items be added to or deducted from profit?","es":""},"explanation":{"fr":"","en":"Non-cash items neutralised, result on disposal removed, working capital changes with their sign (IAS 7, para. 20, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Deducting a disposal loss or a deferred tax expense: they are expenses with no operating cash outflow, so they are added back.","es":""},"format":"CLASSIFICATION","categories":[{"id":"ADD","text":{"fr":"","en":"Add to profit","es":""}},{"id":"SUB","text":{"fr":"","en":"Deduct from profit","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Net provision charge","es":""},"category":"ADD"},{"id":"I2","text":{"fr":"","en":"Deferred tax expense","es":""},"category":"ADD"},{"id":"I3","text":{"fr":"","en":"Unrealised exchange gain","es":""},"category":"SUB"},{"id":"I4","text":{"fr":"","en":"Loss on disposal of a vehicle","es":""},"category":"ADD"},{"id":"I5","text":{"fr":"","en":"Decrease in trade payables","es":""},"category":"SUB"},{"id":"I6","text":{"fr":"","en":"Decrease in inventories","es":""},"category":"ADD"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000079","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"CALCULATION","format":"CALCULATION","context":"TECHNOLOGY","tested_point":"IAS7_INDIRECT_CALC","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IAS7.000009","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"numeric-example"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"Calculate the operating cash flow of Valdric Digital, a fictitious company (case data; interest and tax: already in profit and paid in amounts equal to the expenses).","es":""},"explanation":{"fr":"","en":"820,000 + 260,000 + 40,000 − 15,000 − 120,000 + 50,000 + 50,000 = 1,085,000 (IAS 7, para. 20, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Adding an increase in receivables or inventories instead of deducting it.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Profit","es":""},"value":"820000","unit":"EUR"},{"label":{"fr":"","en":"Depreciation","es":""},"value":"260000","unit":"EUR"},{"label":{"fr":"","en":"Provision charge","es":""},"value":"40000","unit":"EUR"},{"label":{"fr":"","en":"Gain on disposal","es":""},"value":"15000","unit":"EUR"},{"label":{"fr":"","en":"Increase in inventories","es":""},"value":"120000","unit":"EUR"},{"label":{"fr":"","en":"Decrease in receivables","es":""},"value":"50000","unit":"EUR"},{"label":{"fr":"","en":"Increase in trade payables","es":""},"value":"50000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Net operating cash flows","es":""},"answer":1085000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000080","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"CALCULATION","format":"CALCULATION","context":"ENERGY","tested_point":"IAS7_INDIRECT_ASSOCIATE","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IAS7.000009","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"numeric-example"},"references":["IAS 7 §20","IAS 7 §37"],"exercise":{"prompt":{"fr":"","en":"Galdeno Energy, a fictitious company: profit 1,500,000, including share of profit of an associate 200,000; the associate paid 80,000 of dividends, classified as operating (entity policy). Depreciation 400,000; increase in receivables 150,000. Operating cash flow?","es":""},"explanation":{"fr":"","en":"1,500,000 − 200,000 + 80,000 + 400,000 − 150,000 = 1,630,000: only the cash received from the associate is a cash flow (IAS 7, paras. 20 and 37, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Not removing the undistributed share of profit of an associate.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Profit","es":""},"value":"1500000","unit":"EUR"},{"label":{"fr":"","en":"Share of associate","es":""},"value":"200000","unit":"EUR"},{"label":{"fr":"","en":"Dividends received","es":""},"value":"80000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Net operating cash flows","es":""},"answer":1630000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Net operating cash flows","es":""},"expression":"a - b + c + d - e","variables":[{"symbol":"a","meaning":{"fr":"","en":"Profit","es":""},"value":1500000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Share of associate","es":""},"value":200000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Dividends received","es":""},"value":80000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Depreciation 400,000","es":""},"value":400000},{"symbol":"e","meaning":{"fr":"","en":"increase in receivables 150,000","es":""},"value":150000}],"result":1630000,"unit":"EUR"}],"rationale":{"fr":"","en":"1,500,000 − 200,000 + 80,000 + 400,000 − 150,000 = 1,630,000: only the cash received from the associate is a cash flow (IAS 7, paras. 20 and 37, wording before IFRS 18).","es":""},"references":["REF.IAS7.20","REF.IAS7.37"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000081","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"RETAIL","tested_point":"IAS7_INDIRECT_REVIEW","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000009","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"pitfalls"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"Review the reconciliation prepared for Cassane Fashion, a fictitious chain. Spot the errors.","es":""},"explanation":{"fr":"","en":"Signs of changes, removal of disposal gains, add-back of non-cash expenses (IAS 7, para. 20, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Treating the provision charge as a payment.","es":""},"format":"ERROR_SPOT","statements":[{"id":"E1","text":{"fr":"","en":"Increase in inventories of 180,000: +180,000.","es":""},"erroneous":true,"correction":{"fr":"","en":"−180,000.","es":""}},{"id":"E2","text":{"fr":"","en":"Gain on disposal of a store 90,000: no adjustment, it is part of profit.","es":""},"erroneous":true,"correction":{"fr":"","en":"Remove 90,000: the sale price is in investing.","es":""}},{"id":"E3","text":{"fr":"","en":"Charge to the litigation provision 60,000: −60,000, it is an expense.","es":""},"erroneous":true,"correction":{"fr":"","en":"+60,000: non-cash expense.","es":""}},{"id":"E4","text":{"fr":"","en":"Depreciation 250,000: +250,000.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000082","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"CONSTRUCTION","tested_point":"IAS7_INDIRECT_PROVISION","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS7.000009","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"An entity recognises a 75,000 charge to a warranty provision, with no payment in N. In the reconciliation:","es":""},"explanation":{"fr":"","en":"Non-cash item → added to profit (IAS 7, para. 20, wording before IFRS 18).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"+75,000","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"−75,000","es":""},"correct":false,"feedback":{"fr":"","en":"No cash has gone out.","es":""}},{"id":"C","text":{"fr":"","en":"Nothing","es":""},"correct":false,"feedback":{"fr":"","en":"The expense reduced profit: it must be neutralised.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000083","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"TRANSPORT","tested_point":"IAS7_INDIRECT_DISPOSAL_GAIN","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS7.000009","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §14","IAS 7 §16","IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"A truck (carrying amount 40,000) is sold for 55,000. What is done in the reconciliation and in investing?","es":""},"explanation":{"fr":"","en":"Gain removed from profit (IAS 7, para. 20, wording before IFRS 18); price received in investing (IAS 7, paras. 14 and 16).","es":""},"common_error":{"fr":"","en":"Not removing the gain on disposal, already received within the investing cash flow.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"−15,000 in the reconciliation; +55,000 in investing","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Nothing in the reconciliation; +55,000 in investing","es":""},"correct":false,"feedback":{"fr":"","en":"The gain would be counted twice.","es":""}},{"id":"C","text":{"fr":"","en":"−15,000 in the reconciliation; +40,000 in investing","es":""},"correct":false,"feedback":{"fr":"","en":"The investing cash flow is the price received.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000084","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"CALCULATION","format":"FILL_BLANK","context":"HOSPITALITY","tested_point":"IAS7_INDIRECT_WC_SIGN","difficulty":"BEGINNER","estimated_time_s":60,"lesson_id":"LS.IAS7.000009","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"working-capital"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"Complete with the signed amount.","es":""},"explanation":{"fr":"","en":"Decrease in an operating liability → deduct 40,000 (IAS 7, para. 20, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Adding back the fall in trade payables: settling a liability uses cash, so the adjustment is negative.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"Trade payables go from 300,000 to 260,000. Adjustment in the reconciliation: {{b1}}.","es":""},"blanks":[{"id":"b1","mode":"NUMBER","answer":-40000,"tolerance":0}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000085","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"APPLICATION","format":"ORDERING","context":"RETAIL","tested_point":"IAS7_INDIRECT_STEPS","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000009","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"how"},"references":["IAS 7 §18","IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"Put the steps of the indirect reconciliation in order.","es":""},"explanation":{"fr":"","en":"Logical order of the reconciliation (IAS 7, paras. 18 and 20, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Starting with working-capital changes or skipping the final check against the change in cash.","es":""},"format":"ORDERING","steps":[{"id":"S1","text":{"fr":"","en":"Start from profit or loss for the period","es":""}},{"id":"S2","text":{"fr":"","en":"Neutralise non-cash items","es":""}},{"id":"S3","text":{"fr":"","en":"Remove items relating to investing or financing","es":""}},{"id":"S4","text":{"fr":"","en":"Include changes in inventories, operating receivables and payables","es":""}},{"id":"S5","text":{"fr":"","en":"Check the tie-in with the change in cash","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000086","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","format":"MATCHING","context":"PHARMA","tested_point":"IAS7_INDIRECT_ADJUSTMENTS_MATCH","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000009","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"Match each adjustment with its reason.","es":""},"explanation":{"fr":"","en":"Each adjustment has a precise reason (IAS 7, para. 20, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Mixing up the reasons: the disposal gain is removed because the proceeds are shown in investing, not because it is non-cash.","es":""},"format":"MATCHING","left":[{"id":"L1","text":{"fr":"","en":"Add back depreciation","es":""}},{"id":"L2","text":{"fr":"","en":"Remove the gain on disposal","es":""}},{"id":"L3","text":{"fr":"","en":"Deduct the increase in receivables","es":""}},{"id":"L4","text":{"fr":"","en":"Remove the undistributed share of an associate","es":""}}],"right":[{"id":"R2","text":{"fr":"","en":"Cash presented in investing","es":""}},{"id":"R3","text":{"fr":"","en":"Sales not yet collected","es":""}},{"id":"R4","text":{"fr":"","en":"Income with no receipt","es":""}},{"id":"R1","text":{"fr":"","en":"Expense with no cash outflow","es":""}}],"pairs":[{"left":"L1","right":"R1"},{"left":"L2","right":"R2"},{"left":"L3","right":"R3"},{"left":"L4","right":"R4"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000087","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"BANKING","tested_point":"IAS7_INDIRECT_NONCASH_LIST","difficulty":"ADVANCED","estimated_time_s":120,"lesson_id":"LS.IAS7.000009","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"Which are cited as non-cash items to adjust under the indirect method?","es":""},"explanation":{"fr":"","en":"Examples of non-cash items (IAS 7, para. 20, wording before IFRS 18).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Deferred taxes","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Unrealised foreign currency gains and losses","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Undistributed profits of associates","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Wages paid","es":""},"correct":false,"feedback":{"fr":"","en":"This is an actual payment.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000088","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"ANALYSIS","format":"MINI_CASE","context":"MANUFACTURING","tested_point":"IAS7_INDIRECT_CORRECTION","difficulty":"EXPERT","estimated_time_s":480,"lesson_id":"LS.IAS7.000009","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"judgment"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"Correct the reconciliation of Dolvane Engineering, a fictitious company.","es":""},"explanation":{"fr":"","en":"A reconciliation is corrected line by line, from the nature of each item (IAS 7, para. 20, wording before IFRS 18).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Draft reconciliation for N: profit 500,000; depreciation +180,000; gain on disposal +30,000; increase in inventories +70,000; increase in receivables −40,000; use of a restructuring provision paid in N (90,000): no adjustment; charge to a new provision −25,000; increase in payables to fixed-asset suppliers +60,000. Total presented: 775,000.","es":""},"parts":[{"prompt":{"fr":"","en":"Which lines are wrong?","es":""},"explanation":{"fr":"","en":"Signs, nature of changes and non-cash items (IAS 7, para. 20, wording before IFRS 18).","es":""},"format":"ERROR_SPOT","statements":[{"id":"E1","text":{"fr":"","en":"Gain on disposal +30,000","es":""},"erroneous":true,"correction":{"fr":"","en":"−30,000.","es":""}},{"id":"E2","text":{"fr":"","en":"Increase in inventories +70,000","es":""},"erroneous":true,"correction":{"fr":"","en":"−70,000.","es":""}},{"id":"E3","text":{"fr":"","en":"Use of the paid provision: no adjustment","es":""},"erroneous":true,"correction":{"fr":"","en":"−90,000: the decrease in the provision corresponds to a payment.","es":""}},{"id":"E4","text":{"fr":"","en":"Charge to a new provision −25,000","es":""},"erroneous":true,"correction":{"fr":"","en":"+25,000.","es":""}},{"id":"E5","text":{"fr":"","en":"Payables to fixed-asset suppliers +60,000","es":""},"erroneous":true,"correction":{"fr":"","en":"Exclude: they relate to investing.","es":""}},{"id":"E6","text":{"fr":"","en":"Depreciation +180,000","es":""},"erroneous":false}],"id":"P1","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"Calculate the corrected operating cash flow.","es":""},"explanation":{"fr":"","en":"500,000 + 180,000 − 30,000 − 70,000 − 40,000 − 90,000 + 25,000 = 475,000 (IAS 7, para. 20, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Keeping the draft amounts without correcting each item according to its nature: the flow then stays overstated.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Profit","es":""},"value":"500000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Corrected operating cash flow","es":""},"answer":475000,"tolerance":0,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION"},{"prompt":{"fr":"","en":"The working note must explain the 300,000 difference between the draft and the corrected cash flow, line by line.","es":""},"explanation":{"fr":"","en":"True: 775,000 − 475,000 = 300,000; each correction is justified by the nature of the item (IAS 7, para. 20, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Justifying the difference as a single total: each correction must be explained line by line.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P3","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000089","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.GROSS_NET.NET_BASIS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"MANUFACTURING","tested_point":"IAS7_GROSS_PRINCIPLE","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS7.000010","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000010","section_id":"gross-rule"},"references":["IAS 7 §21"],"exercise":{"prompt":{"fr":"","en":"In principle, gross receipts and payments from investing and financing are reported separately.","es":""},"explanation":{"fr":"","en":"True: as a rule, the major classes of gross investing and financing receipts and payments are shown separately; netting is the exception (IAS 7, para. 21).","es":""},"common_error":{"fr":"","en":"Netting investing or financing flows as a matter of course: net presentation is permitted only in the specified cases.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000090","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.GROSS_NET.NET_BASIS"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"REAL_ESTATE","tested_point":"IAS7_NET_ON_BEHALF","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS7.000010","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000010","section_id":"net-cases"},"references":["IAS 7 §22"],"exercise":{"prompt":{"fr":"","en":"Lemorne Syndic, a fictitious company, collects service charges for co-owners and pays the building suppliers on their behalf. The cash flows reflect the co-ownerships’ activity. Presentation?","es":""},"explanation":{"fr":"","en":"Cash flows on behalf of customers reflecting their activities → net permitted (IAS 7, para. 22).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Net presentation permitted","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Gross presentation required","es":""},"correct":false,"feedback":{"fr":"","en":"The cash flows reflect the customers’ activity.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000091","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.GROSS_NET.NET_BASIS"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"BANKING","tested_point":"IAS7_GROSS_NET_SORT","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000010","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000010","section_id":"net-cases"},"references":["IAS 7 §21","IAS 7 §23","IAS 7 §23A"],"exercise":{"prompt":{"fr":"","en":"Classify these cash flows.","es":""},"explanation":{"fr":"","en":"Cases (a) and (b) from the examples of the standard; the rest gross (IAS 7, paras. 21, 23 and 23A).","es":""},"common_error":{"fr":"","en":"Netting a bond issue or property purchases: they fall under none of the permitted netting cases.","es":""},"format":"CLASSIFICATION","categories":[{"id":"NET","text":{"fr":"","en":"Net presentation permitted","es":""}},{"id":"GROSS","text":{"fr":"","en":"Gross presentation required","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Demand deposits accepted and repaid by a bank","es":""},"category":"NET"},{"id":"I2","text":{"fr":"","en":"Advances and repayments on customers' credit card balances","es":""},"category":"NET"},{"id":"I3","text":{"fr":"","en":"7-year bond issued and repaid","es":""},"category":"GROSS"},{"id":"I4","text":{"fr":"","en":"Purchases and sales of buildings by a manufacturer","es":""},"category":"GROSS"},{"id":"I5","text":{"fr":"","en":"Rents collected on behalf of owners and paid over","es":""},"category":"NET"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000092","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.GROSS_NET.NET_BASIS"],"dimension":"CALCULATION","format":"CALCULATION","context":"BANKING","tested_point":"IAS7_NET_CARD_BALANCES","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IAS7.000010","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000010","section_id":"numeric-example"},"references":["IAS 7 §21","IAS 7 §23A"],"exercise":{"prompt":{"fr":"","en":"Erminel Credit, a fictitious card issuer, advances 48,000,000 on customers’ card balances and collects 46,500,000 of principal repayments; it also issues a 5-year bond of 10,000,000 and repays 4,000,000 of another. Calculate.","es":""},"explanation":{"fr":"","en":"Card balances, net presentation permitted (IAS 7, para. 23A): repayments − advances = 46,500,000 − 48,000,000 = −1,500,000. Bonds, gross presentation (IAS 7, para. 21): issue +10,000,000 and repayment −4,000,000 on two lines.","es":""},"common_error":{"fr":"","en":"Reporting long-term borrowings net on the grounds that the amounts are large.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Card advances","es":""},"value":"48000000","unit":"EUR"},{"label":{"fr":"","en":"Card repayments","es":""},"value":"46500000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Net line for card balances (outflow as negative)","es":""},"answer":-1500000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"\"Bond issue\" line","es":""},"answer":10000000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"\"Bond repayment\" line (as negative)","es":""},"answer":-4000000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Net line for card balances (outflow as negative)","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Card repayments","es":""},"value":46500000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Card advances","es":""},"value":48000000,"unit":"EUR"}],"result":-1500000,"unit":"EUR","rationale":{"fr":"","en":"Card balances, net presentation permitted (IAS 7, para. 23A): repayments − advances = 46,500,000 − 48,000,000 = −1,500,000.","es":""}}],"references":["REF.IAS7.21","REF.IAS7.23A"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000093","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.GROSS_NET.NET_BASIS"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"RETAIL","tested_point":"IAS7_NET_REVIEW","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000010","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000010","section_id":"pitfalls"},"references":["IAS 7 §21","IAS 7 §22"],"exercise":{"prompt":{"fr":"","en":"Review the presentation note of Cassane Retail, a fictitious company. Spot the errors.","es":""},"explanation":{"fr":"","en":"Gross by principle (IAS 7, para. 21); net requires quick turnover, large amounts and short maturity (IAS 7, para. 22).","es":""},"common_error":{"fr":"","en":"Offsetting acquisitions and disposals of fixed assets.","es":""},"format":"ERROR_SPOT","statements":[{"id":"E1","text":{"fr":"","en":"Our purchases and sales of stores offset: we present \"net investments\".","es":""},"erroneous":true,"correction":{"fr":"","en":"Acquisitions and disposals gross, on separate lines.","es":""}},{"id":"E2","text":{"fr":"","en":"Our 5-year syndicated loan involves large amounts: we present drawdowns and repayments net.","es":""},"erroneous":true,"correction":{"fr":"","en":"No quick turnover or short maturity: gross.","es":""}},{"id":"E3","text":{"fr":"","en":"New borrowings and repayments appear on two separate lines.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000094","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.GROSS_NET.NET_BASIS"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"BANKING","tested_point":"IAS7_NET_FINANCIAL_INSTITUTION","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000010","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000010","section_id":"financial-institutions"},"references":["IAS 7 §24"],"exercise":{"prompt":{"fr":"","en":"Which cash flows may a financial institution report net?","es":""},"explanation":{"fr":"","en":"Cases specific to financial institutions (IAS 7, para. 24).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Fixed maturity deposits accepted and repaid","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Deposits placed with and withdrawn from other institutions","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Loans made to customers and their repayment","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Purchase and sale of its head office","es":""},"correct":false,"feedback":{"fr":"","en":"Ordinary investing: gross.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000095","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.GROSS_NET.NET_BASIS"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"TECHNOLOGY","tested_point":"IAS7_NET_QUICK_TURNOVER","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IAS7.000010","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000010","section_id":"net-cases"},"references":["IAS 7 §22"],"exercise":{"prompt":{"fr":"","en":"Complete.","es":""},"explanation":{"fr":"","en":"Case (b) covers items with quick turnover, large amounts and short maturities; the three criteria are cumulative (IAS 7, para. 22).","es":""},"common_error":{"fr":"","en":"Relying on one criterion only: quick turnover, large amounts and short maturities must all be met.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"Case (b) covers items in which the turnover is {{b1}}, the amounts are {{b2}} and the maturities are {{b3}}.","es":""},"blanks":[{"id":"b1","mode":"CHOICE","choices":[{"id":"C1","text":{"fr":"","en":"quick","es":""}},{"id":"C2","text":{"fr":"","en":"slow","es":""}}],"answer":"C1"},{"id":"b2","mode":"CHOICE","choices":[{"id":"C1","text":{"fr":"","en":"large","es":""}},{"id":"C2","text":{"fr":"","en":"small","es":""}}],"answer":"C1"},{"id":"b3","mode":"CHOICE","choices":[{"id":"C1","text":{"fr":"","en":"short","es":""}},{"id":"C2","text":{"fr":"","en":"long","es":""}}],"answer":"C1"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000096","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.GROSS_NET.NET_BASIS"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"TRANSPORT","tested_point":"IAS7_NET_AGENT_JUDGMENT","difficulty":"EXPERT","estimated_time_s":480,"lesson_id":"LS.IAS7.000010","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000010","section_id":"judgment"},"references":["IAS 7 §21","IAS 7 §22"],"exercise":{"prompt":{"fr":"","en":"Analyse the cash flows of Torvane Travel, a fictitious agency.","es":""},"explanation":{"fr":"","en":"Offsetting requires a documented analysis; the rest remains gross (IAS 7, paras. 21 and 22).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Torvane collects from its customers the price of train tickets, which it pays over in full to the carriers, keeping only a separately invoiced commission; it bears no risk on the tickets (case data). In N: ticket prices collected 30,000,000, paid over 29,400,000. Torvane also drew 2,000,000 on a 3-year credit line and repaid 1,500,000.","es":""},"parts":[{"prompt":{"fr":"","en":"May the tickets collected and paid over be presented net?","es":""},"explanation":{"fr":"","en":"Cash flows on behalf of customers (IAS 7, para. 22).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Yes, if the analysis confirms that the flows reflect the customers' activity (documented intermediary role)","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"No, net presentation is reserved for banks","es":""},"correct":false,"feedback":{"fr":"","en":"Case (a) applies to any entity.","es":""}}],"id":"P1","dimension":"PROFESSIONAL_JUDGMENT"},{"prompt":{"fr":"","en":"Amounts presented.","es":""},"explanation":{"fr":"","en":"Net ticket line = collected − remitted = 30,000,000 − 29,400,000 = 600,000; the 3-year credit line does not have a short maturity: drawdowns of 2,000,000 and repayments of 1,500,000 stay gross (IAS 7, paras. 21 and 22).","es":""},"common_error":{"fr":"","en":"Also netting the 3-year credit line: its maturity is not short, so drawdowns and repayments stay gross.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Tickets collected","es":""},"value":"30000000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Net tickets line","es":""},"answer":600000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Credit line drawdowns (gross)","es":""},"answer":2000000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Repayments (gross)","es":""},"answer":1500000,"tolerance":0,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Net tickets line","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Tickets collected","es":""},"value":30000000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"paid over 29,400,000","es":""},"value":29400000}],"result":600000,"unit":"EUR"}],"references":["REF.IAS7.21","REF.IAS7.22"]}},{"prompt":{"fr":"","en":"The file must justify Torvane's intermediary role before offsetting.","es":""},"explanation":{"fr":"","en":"True: net presentation is an exception; the file must establish that the flows fall within a permitted netting case before netting them (IAS 7, para. 22).","es":""},"common_error":{"fr":"","en":"Netting without documentation: the intermediary role or the netting criteria must be demonstrated.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P3","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000097","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.FOREIGN_CURRENCY"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"RETAIL","tested_point":"IAS7_FX_TRANSACTION_RATE","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS7.000011","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000011","section_id":"transactions"},"references":["IAS 7 §25"],"exercise":{"prompt":{"fr":"","en":"A foreign currency cash flow is recorded in the functional currency at the exchange rate at the date of the cash flow.","es":""},"explanation":{"fr":"","en":"True: a foreign-currency cash flow is recorded in the functional currency at the exchange rate at the date of the cash flow, not at the closing rate (IAS 7, para. 25).","es":""},"common_error":{"fr":"","en":"Translating the flow at the closing rate: the rate at the date of the cash flow applies.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000098","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.FOREIGN_CURRENCY"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"MANUFACTURING","tested_point":"IAS7_FX_SUBSIDIARY_RATE","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS7.000011","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000011","section_id":"foreign-subsidiary"},"references":["IAS 7 §26","IAS 7 §27"],"exercise":{"prompt":{"fr":"","en":"A Brazilian subsidiary of a fictitious group reports operating cash flows of 12,000,000 reais, spread evenly over the year, with a stable currency. To translate them, the group may use:","es":""},"explanation":{"fr":"","en":"Regular flows and a stable currency: an average rate approximates actual rates (IAS 7, paras. 26 and 27).","es":""},"common_error":{"fr":"","en":"Translating a foreign subsidiary's cash flows at the closing rate.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The weighted average rate for the year","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The closing rate, which is simpler","es":""},"correct":false,"feedback":{"fr":"","en":"The closing rate is prohibited for a foreign subsidiary's cash flows.","es":""}},{"id":"C","text":{"fr":"","en":"The opening rate","es":""},"correct":false,"feedback":{"fr":"","en":"It does not reflect the rates at the dates of the cash flows.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000099","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.FOREIGN_CURRENCY"],"dimension":"CALCULATION","format":"CALCULATION","context":"TECHNOLOGY","tested_point":"IAS7_FX_EFFECT_CALC","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IAS7.000011","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000011","section_id":"numeric-example"},"references":["IAS 7 §25","IAS 7 §28"],"exercise":{"prompt":{"fr":"","en":"Pound sterling account of Larvane Software, a fictitious publisher (rates in euros per pound; case data). Calculate.","es":""},"explanation":{"fr":"","en":"Opening 300,000 × 1.15 = 345,000; closing 700,000 × 1.20 = 840,000; effect 840,000 − (345,000 + 470,000) = 25,000 (IAS 7, paras. 25 and 28).","es":""},"common_error":{"fr":"","en":"Omitting the exchange effect line, which prevents cash from being reconciled.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Balance 1/1/N in pounds (rate 1.15)","es":""},"value":"300000","unit":"GBP"},{"label":{"fr":"","en":"Licence receipts, translated at the rates of the dates","es":""},"value":"470000","unit":"EUR"},{"label":{"fr":"","en":"Receipts in pounds","es":""},"value":"400000","unit":"GBP"},{"label":{"fr":"","en":"Balance 31/12/N in pounds (rate 1.20)","es":""},"value":"700000","unit":"GBP"}],"steps":[{"id":"S1","label":{"fr":"","en":"Opening balance in euros","es":""},"answer":345000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Closing balance in euros","es":""},"answer":840000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Effect of exchange rate changes","es":""},"answer":25000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S3","meaning":{"fr":"","en":"Effect of exchange rate changes","es":""},"expression":"a - (b + c)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Closing balance in euros","es":""},"value":840000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening balance in euros","es":""},"value":345000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Licence receipts, translated at the rates of the dates","es":""},"value":470000,"unit":"EUR"}],"result":25000,"unit":"EUR"}],"references":["REF.IAS7.25","REF.IAS7.28"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000100","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.FOREIGN_CURRENCY"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"AGRIFOOD","tested_point":"IAS7_FX_REVIEW","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000011","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000011","section_id":"pitfalls"},"references":["IAS 7 §25","IAS 7 §26","IAS 7 §27","IAS 7 §28"],"exercise":{"prompt":{"fr":"","en":"Review the draft statement of Restane Wines, a fictitious exporter. Spot the errors.","es":""},"explanation":{"fr":"","en":"Cash flows at the rates of the dates (IAS 7, paras. 25 and 26), never at the closing rate for a subsidiary (IAS 7, para. 27); unrealised outside cash flows (IAS 7, para. 28).","es":""},"common_error":{"fr":"","en":"Presenting an unrealised exchange gain as a cash flow.","es":""},"format":"ERROR_SPOT","statements":[{"id":"E1","text":{"fr":"","en":"The unrealised exchange gain of 35,000 on the dollar account appears in receipts from customers.","es":""},"erroneous":true,"correction":{"fr":"","en":"Separate exchange effect line, outside the activities.","es":""}},{"id":"E2","text":{"fr":"","en":"Sales collected in dollars are translated at the rate at each collection date.","es":""},"erroneous":false},{"id":"E3","text":{"fr":"","en":"The Canadian subsidiary’s cash flows are translated at the 31 December rate.","es":""},"erroneous":true,"correction":{"fr":"","en":"Rates at the dates of the cash flows or an approximating average rate.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000101","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.FOREIGN_CURRENCY"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"HOSPITALITY","tested_point":"IAS7_FX_AVERAGE_RATE","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000011","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000011","section_id":"foreign-subsidiary"},"references":["IAS 7 §26","IAS 7 §27"],"exercise":{"prompt":{"fr":"","en":"Which rates may be used to translate a foreign subsidiary's cash flows?","es":""},"explanation":{"fr":"","en":"Rates of the dates or an approximating rate; never the closing rate (IAS 7, paras. 26 and 27).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The rates at the dates of the cash flows","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"A weighted average rate that approximates the actual rates","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The closing rate","es":""},"correct":false,"feedback":{"fr":"","en":"Prohibited.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000102","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.FOREIGN_CURRENCY"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"LOGISTICS","tested_point":"IAS7_FX_SEPARATE_LINE","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IAS7.000011","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000011","section_id":"unrealised"},"references":["IAS 7 §28"],"exercise":{"prompt":{"fr":"","en":"Complete.","es":""},"explanation":{"fr":"","en":"Separate line, for the reconciliation (IAS 7, para. 28).","es":""},"common_error":{"fr":"","en":"Including the exchange effect in operating flows: it is not a cash flow and appears on a separate line.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"The effect of exchange rate changes on cash held in foreign currencies is reported {{b1}} operating, investing and financing cash flows, in order to reconcile opening and {{b2}} cash.","es":""},"blanks":[{"id":"b1","mode":"CHOICE","choices":[{"id":"C1","text":{"fr":"","en":"separately from","es":""}},{"id":"C2","text":{"fr":"","en":"within","es":""}}],"answer":"C1"},{"id":"b2","mode":"CHOICE","choices":[{"id":"C1","text":{"fr":"","en":"closing","es":""}},{"id":"C2","text":{"fr":"","en":"budgeted","es":""}}],"answer":"C1"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000103","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.FOREIGN_CURRENCY"],"dimension":"CALCULATION","format":"CALCULATION","context":"RETAIL","tested_point":"IAS7_FX_SUBSIDIARY_TRANSLATION","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IAS7.000011","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000011","section_id":"foreign-subsidiary"},"references":["IAS 7 §26","IAS 7 §27"],"exercise":{"prompt":{"fr":"","en":"A US subsidiary of Tuvane Stores, a fictitious group, has operating cash flows of 2,000,000 dollars, evenly spread over the year. Average rate 0.92 euro per dollar, closing rate 0.95 (case data). Translated amount to present?","es":""},"explanation":{"fr":"","en":"2,000,000 × 0.92 = 1,840,000; the closing rate (1,900,000) is prohibited (IAS 7, paras. 26 and 27).","es":""},"common_error":{"fr":"","en":"Translating a foreign subsidiary's cash flows at the closing rate.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Cash flows in dollars","es":""},"value":"2000000","unit":"USD"}],"steps":[{"id":"S1","label":{"fr":"","en":"Translated operating cash flows","es":""},"answer":1840000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Translated operating cash flows","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cash flows in dollars","es":""},"value":2000000,"unit":"USD"},{"symbol":"b","meaning":{"fr":"","en":"Average rate 0.92 euro per dollar","es":""},"value":0.92}],"result":1840000,"unit":"EUR"}],"references":["REF.IAS7.26","REF.IAS7.27"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000104","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.FOREIGN_CURRENCY"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"ENERGY","tested_point":"IAS7_FX_JUDGMENT","difficulty":"EXPERT","estimated_time_s":480,"lesson_id":"LS.IAS7.000011","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000011","section_id":"judgment"},"references":["IAS 7 §26","IAS 7 §27"],"exercise":{"prompt":{"fr":"","en":"Analyse the translation of the cash flows of the subsidiary of Valdric Energy, a fictitious group.","es":""},"explanation":{"fr":"","en":"An average rate is only an approximation of actual rates, to be justified (IAS 7, paras. 26 and 27).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"The subsidiary, in the dollar zone, collected 10,000,000 dollars in N, of which 8,000,000 on 20 December (balance of a large contract). The dollar fell in the fourth quarter. Rates (euro per dollar): annual average 0.95; at 20 December 0.85; average for the first eleven months 0.97 (case data).","es":""},"parts":[{"prompt":{"fr":"","en":"Is the annual average rate acceptable?","es":""},"explanation":{"fr":"","en":"The average rate must approximate the actual rates (IAS 7, para. 27).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No: the cash flows are concentrated on one date and the currency moved sharply; it does not approximate the actual rate","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Yes: an average rate is always permitted","es":""},"correct":false,"feedback":{"fr":"","en":"Only if it approximates the actual rates.","es":""}}],"id":"P1","dimension":"PROFESSIONAL_JUDGMENT"},{"prompt":{"fr":"","en":"Translate the receipts using the 20 December rate for the large contract and the eleven-month average for the rest.","es":""},"explanation":{"fr":"","en":"8,000,000 × 0.85 + 2,000,000 × 0.97 = 6,800,000 + 1,940,000 = 8,740,000 (versus 9,500,000 at the annual average) (IAS 7, paras. 26 and 27).","es":""},"common_error":{"fr":"","en":"Applying the annual average rate to all receipts: it does not reflect a large flow concentrated on one date.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Large contract","es":""},"value":"8000000","unit":"USD"},{"label":{"fr":"","en":"Other receipts","es":""},"value":"2000000","unit":"USD"}],"steps":[{"id":"S1","label":{"fr":"","en":"Translated receipts","es":""},"answer":8740000,"tolerance":0,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Translated receipts","es":""},"expression":"a * b + c * d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Large contract","es":""},"value":8000000,"unit":"USD"},{"symbol":"b","meaning":{"fr":"","en":"December 0.85","es":""},"value":0.85},{"symbol":"c","meaning":{"fr":"","en":"Other receipts","es":""},"value":2000000,"unit":"USD"},{"symbol":"d","meaning":{"fr":"","en":"average for the first eleven months 0.97","es":""},"value":0.97}],"result":8740000,"unit":"EUR"}],"rationale":{"fr":"","en":"8,000,000 × 0.85 + 2,000,000 × 0.97 = 6,800,000 + 1,940,000 = 8,740,000 (versus 9,500,000 at the annual average) (IAS 7, paras. 26 and 27).","es":""},"references":["REF.IAS7.26","REF.IAS7.27"]}},{"prompt":{"fr":"","en":"The file must justify the choice of rates in the light of volatility and the spread of cash flows.","es":""},"explanation":{"fr":"","en":"True: an average rate is acceptable only if it approximates actual rates; the file must therefore justify the rates chosen in light of volatility and the spread of flows (IAS 7, para. 27).","es":""},"common_error":{"fr":"","en":"Using an average rate without checking that it approximates actual rates given volatility and the spread of 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line, or netting amounts received and paid.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000106","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"MANUFACTURING","tested_point":"IAS7_ID_INTEREST_PAID_OPTIONS","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS7.000012","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"options"},"references":["IAS 7 §33"],"exercise":{"prompt":{"fr":"","en":"For Ardanel, a fictitious manufacturer, interest paid may be classified:","es":""},"explanation":{"fr":"","en":"No consensus for a non-financial entity (IAS 7, para. 33, wording before IFRS 18).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As operating or financing","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Only as financing","es":""},"correct":false,"feedback":{"fr":"","en":"There is an option.","es":""}},{"id":"C","text":{"fr":"","en":"As investing","es":""},"correct":false,"feedback":{"fr":"","en":"This is not an option for interest paid.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000107","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"TECHNOLOGY","tested_point":"IAS7_ID_DIVIDENDS_PAID_OPTIONS","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS7.000012","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"options"},"references":["IAS 7 §34"],"exercise":{"prompt":{"fr":"","en":"Dividends paid by Belzane, a fictitious publisher, may be classified:","es":""},"explanation":{"fr":"","en":"Financing (cost of obtaining resources) or operating (IAS 7, para. 34, wording before IFRS 18).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As financing or operating","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"As investing","es":""},"correct":false,"feedback":{"fr":"","en":"This is not an option for dividends paid.","es":""}},{"id":"C","text":{"fr":"","en":"Outside the statement, as they are distributions of profit","es":""},"correct":false,"feedback":{"fr":"","en":"A dividend payment is a cash flow.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000108","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"BANKING","tested_point":"IAS7_ID_RECEIVED_OPTIONS","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000012","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"options"},"references":["IAS 7 §33"],"exercise":{"prompt":{"fr":"","en":"For a non-financial entity, where may interest and dividends received be classified?","es":""},"explanation":{"fr":"","en":"Received: operating or investing (IAS 7, para. 33, wording before IFRS 18).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Operating activities","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Investing activities","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Financing activities","es":""},"correct":false,"feedback":{"fr":"","en":"This is not an option for amounts received.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000109","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"TRANSPORT","tested_point":"IAS7_ID_CONSISTENCY","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS7.000012","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §31"],"exercise":{"prompt":{"fr":"","en":"Dremane, a fictitious carrier, has classified its interest paid as financing for five years. For N, its CFO proposes operating \"because financing cash flows are already very negative\". Answer?","es":""},"explanation":{"fr":"","en":"Consistent classification from period to period (IAS 7, para. 31, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Changing the classification of interest paid from one period to another without justification.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Refuse: classification is consistent; this reason does not justify a change","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Accept: the choice is free every year","es":""},"correct":false,"feedback":{"fr":"","en":"Consistency from period to period is required.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000110","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"CALCULATION","format":"CALCULATION","context":"CONSTRUCTION","tested_point":"IAS7_ID_INTEREST_PAID_CALC","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IAS7.000012","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"how"},"references":["IAS 7 §31","IAS 7 §33"],"exercise":{"prompt":{"fr":"","en":"Elsavel, a fictitious contractor, reports: interest expense 140,000; accrued interest 30,000 at 1/1/N and 22,000 at 31/12/N. Interest paid?","es":""},"explanation":{"fr":"","en":"140,000 + 30,000 − 22,000 = 148,000, classified under the policy adopted (IAS 7, paras. 31 and 33, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Using the interest expense instead of interest paid (forgetting accrued interest).","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Interest expense","es":""},"value":"140000","unit":"EUR"},{"label":{"fr":"","en":"Opening accrued","es":""},"value":"30000","unit":"EUR"},{"label":{"fr":"","en":"Closing accrued","es":""},"value":"22000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Interest paid","es":""},"answer":148000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Interest paid","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Interest expense","es":""},"value":140000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening accrued","es":""},"value":30000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing accrued","es":""},"value":22000,"unit":"EUR"}],"result":148000,"unit":"EUR"}],"rationale":{"fr":"","en":"140,000 + 30,000 − 22,000 = 148,000, classified under the policy adopted (IAS 7, paras. 31 and 33, wording before IFRS 18).","es":""},"references":["REF.IAS7.31","REF.IAS7.33"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000111","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"CALCULATION","format":"CALCULATION","context":"RETAIL","tested_point":"IAS7_ID_DIVIDENDS_PAID_CALC","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IAS7.000012","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"how"},"references":["IAS 7 §34"],"exercise":{"prompt":{"fr":"","en":"Harvane, a fictitious chain, declares a dividend of 500,000 in N. Dividends payable: 0 at 1/1/N, 150,000 at 31/12/N. Dividends paid in N?","es":""},"explanation":{"fr":"","en":"500,000 + 0 − 150,000 = 350,000, classified under the policy adopted (IAS 7, para. 34, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Using the dividend declared (500,000): the part still payable at year-end is not a cash flow of the period.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Dividend declared","es":""},"value":"500000","unit":"EUR"},{"label":{"fr":"","en":"Payable at closing","es":""},"value":"150000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Dividends paid","es":""},"answer":350000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Dividends paid","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Dividend declared","es":""},"value":500000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Dividends payable: 0","es":""},"value":0},{"symbol":"c","meaning":{"fr":"","en":"Payable at closing","es":""},"value":150000,"unit":"EUR"}],"result":350000,"unit":"EUR"}],"rationale":{"fr":"","en":"500,000 + 0 − 150,000 = 350,000, classified under the policy adopted (IAS 7, para. 34, wording before IFRS 18).","es":""},"references":["REF.IAS7.34"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000112","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"CALCULATION","format":"CALCULATION","context":"ENERGY","tested_point":"IAS7_ID_TOTAL_INTEREST","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IAS7.000012","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"total-interest"},"references":["IAS 7 §32"],"exercise":{"prompt":{"fr":"","en":"Ilmane Energy, a fictitious company, is building a power plant. In N: interest expense in profit or loss 200,000 (accruals unchanged); interest paid capitalised in the cost of the plant 120,000. Calculate.","es":""},"explanation":{"fr":"","en":"200,000 + 120,000 = 320,000: the total includes capitalised interest (IAS 7, para. 32).","es":""},"common_error":{"fr":"","en":"Excluding capitalised interest from total interest paid.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Interest expensed","es":""},"value":"200000","unit":"EUR"},{"label":{"fr":"","en":"Interest capitalised","es":""},"value":"120000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Total interest paid to disclose","es":""},"answer":320000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Total interest paid to disclose","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Interest expensed","es":""},"value":200000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Interest capitalised","es":""},"value":120000,"unit":"EUR"}],"result":320000,"unit":"EUR"}],"rationale":{"fr":"","en":"200,000 + 120,000 = 320,000: the total includes capitalised interest (IAS 7, para. 32).","es":""},"references":["REF.IAS7.32"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000113","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"HOSPITALITY","tested_point":"IAS7_ID_INTEREST_ENTRY","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IAS7.000012","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"entry"},"references":["IAS 7 §31","IAS 7 §33"],"exercise":{"prompt":{"fr":"","en":"Melzane, a fictitious hotelier, pays 24,000 of interest on its loan, of which 6,000 accrued at the opening and 18,000 for the year (not yet recognised). Record the payment entry.","es":""},"explanation":{"fr":"","en":"Cash flow \"interest paid\" of 24,000, on a separate line, classified under the entity's policy (IAS 7, paras. 31 and 33, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Debiting the loan capital and classifying the payment as a repayment in financing.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"ACCR","text":{"fr":"","en":"Accrued interest","es":""}},{"id":"INTX","text":{"fr":"","en":"Interest expense","es":""}},{"id":"BANK","text":{"fr":"","en":"Bank","es":""}},{"id":"LOAN","text":{"fr":"","en":"Loan (capital)","es":""}}],"lines":[{"id":"L1","account":"ACCR","side":"DEBIT","amount":6000},{"id":"L2","account":"INTX","side":"DEBIT","amount":18000},{"id":"L3","account":"BANK","side":"CREDIT","amount":24000}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000114","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"JOURNAL_ENTRY","format":"MINI_CASE","context":"REAL_ESTATE","tested_point":"IAS7_ID_CAPITALISED_ENTRY","difficulty":"ADVANCED","estimated_time_s":390,"lesson_id":"LS.IAS7.000012","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"total-interest"},"references":["IAS 7 §32"],"exercise":{"prompt":{"fr":"","en":"Link the capitalised interest entry of Ostane Property, a fictitious developer, to the statement.","es":""},"explanation":{"fr":"","en":"Total interest paid includes interest capitalised in the cost of an asset (IAS 7, para. 32).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Ostane pays 40,000 of interest on a loan used to build its future head office; this interest is capitalised in the cost of the building under construction (case data). Ostane also pays 70,000 of other interest, expensed.","es":""},"parts":[{"prompt":{"fr":"","en":"Entry for the payment of capitalised interest.","es":""},"explanation":{"fr":"","en":"Interest capitalised in the cost of the asset, paid (IAS 7, para. 32).","es":""},"common_error":{"fr":"","en":"Debiting finance costs: capitalised interest is added to the cost of the asset under construction.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"CIP","text":{"fr":"","en":"Building under construction","es":""}},{"id":"BANK","text":{"fr":"","en":"Bank","es":""}},{"id":"INTX","text":{"fr":"","en":"Interest expense","es":""}}],"lines":[{"id":"L1","account":"CIP","side":"DEBIT","amount":40000},{"id":"L2","account":"BANK","side":"CREDIT","amount":40000}],"id":"P1","dimension":"JOURNAL_ENTRY"},{"prompt":{"fr":"","en":"Total interest paid to disclose in the statement.","es":""},"explanation":{"fr":"","en":"40,000 + 70,000 = 110,000 (IAS 7, para. 32).","es":""},"common_error":{"fr":"","en":"Using only the interest expensed: total interest paid also includes interest capitalised in the cost of an asset.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Capitalised interest","es":""},"value":"40000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Total","es":""},"answer":110000,"tolerance":0,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Total","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Capitalised interest","es":""},"value":40000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Ostane also pays 70,000 of other interest","es":""},"value":70000}],"result":110000,"unit":"EUR"}],"rationale":{"fr":"","en":"40,000 + 70,000 = 110,000 (IAS 7, para. 32).","es":""},"references":["REF.IAS7.32"]}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000115","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"APPLICATION","format":"CLASSIFICATION","context":"MANUFACTURING","tested_point":"IAS7_ID_POLICY_APPLY","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000012","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"options"},"references":["IAS 7 §31","IAS 7 §33","IAS 7 §34"],"exercise":{"prompt":{"fr":"","en":"Ravenol, a fictitious manufacturer, has adopted (case data): interest and dividends received as investing; interest paid as operating; dividends paid as financing. Classify its cash flows.","es":""},"explanation":{"fr":"","en":"Applying the options adopted (IAS 7, paras. 33 and 34, wording before IFRS 18), consistently (IAS 7, para. 31, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Classifying the flows by an assumed single rule: the option chosen by the entity, given in the case, applies consistently.","es":""},"format":"CLASSIFICATION","categories":[{"id":"OP","text":{"fr":"","en":"Operating activities","es":""}},{"id":"INV","text":{"fr":"","en":"Investing activities","es":""}},{"id":"FIN","text":{"fr":"","en":"Financing activities","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Interest received on an investment","es":""},"category":"INV"},{"id":"I2","text":{"fr":"","en":"Dividends received from an investment","es":""},"category":"INV"},{"id":"I3","text":{"fr":"","en":"Interest paid on the bank loan","es":""},"category":"OP"},{"id":"I4","text":{"fr":"","en":"Dividends paid to shareholders","es":""},"category":"FIN"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000116","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"PHARMA","tested_point":"IAS7_ID_REVIEW","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000012","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"pitfalls"},"references":["IAS 7 §31","IAS 7 §32"],"exercise":{"prompt":{"fr":"","en":"Review the draft of Sedrane Pharma, a fictitious laboratory (policy: interest paid as financing). Spot the errors.","es":""},"explanation":{"fr":"","en":"Interest paid in cash, total including capitalised interest (IAS 7, para. 32), separate lines (IAS 7, para. 31, wording before IFRS 18).","es":""},"format":"ERROR_SPOT","statements":[{"id":"E1","text":{"fr":"","en":"Interest paid: 250,000, the interest expense (accrued interest up 30,000).","es":""},"erroneous":true,"correction":{"fr":"","en":"250,000 − 30,000 = 220,000 paid.","es":""}},{"id":"E2","text":{"fr":"","en":"The total interest paid disclosed excludes the 50,000 capitalised in the cost of the new laboratory.","es":""},"erroneous":true,"correction":{"fr":"","en":"The total includes them.","es":""}},{"id":"E3","text":{"fr":"","en":"Interest paid and dividends paid appear on two separate lines in financing.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000117","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"TELECOM","tested_point":"IAS7_ID_IFRS18_WORDING","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IAS7.000012","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"judgment"},"references":["IAS 7 §33","IAS 7 §34"],"exercise":{"prompt":{"fr":"","en":"Complete.","es":""},"explanation":{"fr":"","en":"Only the currently applicable wording is taught (IAS 7, paras. 33 and 34, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Applying to a period beginning before 2027 the classification required by the IFRS 18 wording.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"For a period beginning on 1 January 2026, the classification options for interest and dividends taught are those of the IAS 7 wording {{b1}} IFRS 18.","es":""},"blanks":[{"id":"b1","mode":"CHOICE","choices":[{"id":"C1","text":{"fr":"","en":"before","es":""}},{"id":"C2","text":{"fr":"","en":"after","es":""}}],"answer":"C1"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000118","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"RECOGNITION","format":"MATCHING","context":"AGRIFOOD","tested_point":"IAS7_ID_MATCH","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000012","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"options"},"references":["IAS 7 §33","IAS 7 §34"],"exercise":{"prompt":{"fr":"","en":"Match each cash flow with its possible classifications (non-financial entity).","es":""},"explanation":{"fr":"","en":"Under the applicable wording, a non-financial entity has options: interest paid may be classified as operating or financing, dividends received as operating or investing, and dividends paid as financing or operating (IAS 7, paras. 33 and 34, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Believing only one classification is possible for a non-financial entity: the applicable wording leaves a choice for these flows.","es":""},"format":"MATCHING","left":[{"id":"L1","text":{"fr":"","en":"Interest paid","es":""}},{"id":"L2","text":{"fr":"","en":"Dividends received","es":""}},{"id":"L3","text":{"fr":"","en":"Dividends paid","es":""}}],"right":[{"id":"R2","text":{"fr":"","en":"Operating or investing","es":""}},{"id":"R3","text":{"fr":"","en":"Financing or operating","es":""}},{"id":"R1","text":{"fr":"","en":"Operating or financing","es":""}}],"pairs":[{"left":"L1","right":"R1"},{"left":"L2","right":"R2"},{"left":"L3","right":"R3"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000119","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"BANKING","tested_point":"IAS7_ID_POLICY_JUDGMENT","difficulty":"EXPERT","estimated_time_s":480,"lesson_id":"LS.IAS7.000012","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"judgment"},"references":["IAS 7 §31","IAS 7 §33","IAS 7 §34"],"exercise":{"prompt":{"fr":"","en":"Help Wesane Holding, a fictitious company, set its policy.","es":""},"explanation":{"fr":"","en":"Choice between options, justified by the entity's nature, then consistent (IAS 7, paras. 31, 33 and 34, wording before IFRS 18).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Wesane is an industrial (non-financial) holding company whose income comes 80% from dividends from its investments; it finances its acquisitions by borrowing. In N: dividends received 3,000,000; interest paid 600,000; dividends paid 1,000,000. It is presenting a statement of cash flows for the first time.","es":""},"parts":[{"prompt":{"fr":"","en":"Defensible classification of dividends received?","es":""},"explanation":{"fr":"","en":"Options for a non-financial entity (IAS 7, para. 33, wording before IFRS 18); consistency (IAS 7, para. 31, wording before IFRS 18).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Operating, justified by the holding nature, or investing: both options exist; the choice is documented and consistent","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Financing, necessarily","es":""},"correct":false,"feedback":{"fr":"","en":"Not an option for amounts received.","es":""}}],"id":"P1","dimension":"PROFESSIONAL_JUDGMENT"},{"prompt":{"fr":"","en":"Under Wesane's chosen policy (case data: dividends received and interest paid as operating, dividends paid as financing), calculate the effect of these cash flows.","es":""},"explanation":{"fr":"","en":"3,000,000 − 600,000 = 2,400,000 in operating; −1,000,000 in financing, on separate lines (IAS 7, paras. 31, 33 and 34, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Netting dividends paid and received on one line, or classifying dividends paid as operating against the chosen policy.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Dividends received","es":""},"value":"3000000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Effect on operating cash flows","es":""},"answer":2400000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Effect on financing cash flows (as negative)","es":""},"answer":-1000000,"tolerance":0,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Effect on operating cash flows","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Dividends received","es":""},"value":3000000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"interest paid 600,000","es":""},"value":600000}],"result":2400000,"unit":"EUR"}],"references":["REF.IAS7.31","REF.IAS7.33","REF.IAS7.34"]}},{"prompt":{"fr":"","en":"The policy note must state the classification adopted for each interest and dividend flow and its justification.","es":""},"explanation":{"fr":"","en":"True: an open choice, so it must be made explicit and maintained (IAS 7, paras. 31 and 33, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Thinking an open choice need not be documented: it must be stated and kept from period to period.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P3","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000120","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"DOCUMENTATION","format":"ORDERING","context":"MANUFACTURING","tested_point":"IAS7_ID_POLICY_FILE","difficulty":"ADVANCED","estimated_time_s":120,"lesson_id":"LS.IAS7.000012","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"judgment"},"references":["IAS 7 §31","IAS 7 §32"],"exercise":{"prompt":{"fr":"","en":"Put in order the preparation of Belzane Industry's interest and dividends file.","es":""},"explanation":{"fr":"","en":"Consistent policy and separate lines (IAS 7, para. 31, wording before IFRS 18), total interest paid (IAS 7, para. 32).","es":""},"common_error":{"fr":"","en":"Computing the amounts before setting and checking the classification policy, or forgetting capitalised interest.","es":""},"format":"ORDERING","steps":[{"id":"S1","text":{"fr":"","en":"Restate the classification policy adopted for each of the four flows","es":""}},{"id":"S2","text":{"fr":"","en":"Check that it is identical to that of the previous period","es":""}},{"id":"S3","text":{"fr":"","en":"Calculate the amounts paid and received from expenses, income and balances","es":""}},{"id":"S4","text":{"fr":"","en":"Add capitalised interest to obtain total interest paid","es":""}},{"id":"S5","text":{"fr":"","en":"Present each flow on its line and disclose total interest paid","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000121","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"RETAIL","tested_point":"IAS7_TAX_SEPARATE","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS7.000013","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"rule"},"references":["IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"Cash flows arising from taxes on income are separately disclosed in the statement.","es":""},"explanation":{"fr":"","en":"True: cash flows arising from income taxes are disclosed separately; they are classified as operating unless they can be specifically identified with investing or financing (IAS 7, para. 35, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Merging taxes paid into other operating payments without a separate line.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000122","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"MANUFACTURING","tested_point":"IAS7_TAX_DEFAULT","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS7.000013","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"rule"},"references":["IAS 7 §35","IAS 7 §36"],"exercise":{"prompt":{"fr":"","en":"Belzane Industry, a fictitious company, pays corporate income tax in instalments; the part relating to the sale of a plant cannot be isolated. Classification?","es":""},"explanation":{"fr":"","en":"Cash flow not identifiable → operating (IAS 7, paras. 35 and 36, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Allocating tax paid between activities without being able to identify the cash flows, and without disclosing the total.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"All as operating","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Estimated allocation between operating and investing","es":""},"correct":false,"feedback":{"fr":"","en":"Without an identifiable cash flow, no identification.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000123","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"CALCULATION","format":"CALCULATION","context":"TECHNOLOGY","tested_point":"IAS7_TAX_PAID_CALC","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IAS7.000013","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"how"},"references":["IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"Calculate the tax paid by Ilvorne Software, a fictitious publisher (case data).","es":""},"explanation":{"fr":"","en":"Current 480,000 − 60,000 = 420,000; paid 420,000 + 110,000 − 140,000 = 390,000 (IAS 7, para. 35, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Using the total tax expense (deferred tax included) as tax paid.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Total tax expense","es":""},"value":"480000","unit":"EUR"},{"label":{"fr":"","en":"Of which deferred tax","es":""},"value":"60000","unit":"EUR"},{"label":{"fr":"","en":"Current tax liability opening / closing","es":""},"value":"110000 / 140000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Current tax","es":""},"answer":420000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Tax paid","es":""},"answer":390000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Current tax","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Total tax expense","es":""},"value":480000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Of which deferred tax","es":""},"value":60000,"unit":"EUR"}],"result":420000,"unit":"EUR"}],"references":["REF.IAS7.35"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000124","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"CALCULATION","format":"CALCULATION","context":"RETAIL","tested_point":"IAS7_TAX_RECEIVABLE_CALC","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IAS7.000013","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"how"},"references":["IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"Gelmira, a fictitious chain, had a tax receivable of 30,000 at 1/1/N (refunded in N); at 31/12/N it has a current tax liability of 45,000. Current tax for N 260,000. Net tax paid?","es":""},"explanation":{"fr":"","en":"260,000 − 30,000 − 45,000 = 185,000 (the refunded receivable reduces the net paid; the closing liability is not yet paid) (IAS 7, para. 35, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Adding the opening receivable refunded: a refund received reduces net tax paid.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Current tax","es":""},"value":"260000","unit":"EUR"},{"label":{"fr":"","en":"Opening receivable","es":""},"value":"30000","unit":"EUR"},{"label":{"fr":"","en":"Closing liability","es":""},"value":"45000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Net tax paid","es":""},"answer":185000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Net tax paid","es":""},"expression":"a - b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Current tax","es":""},"value":260000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening receivable","es":""},"value":30000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing liability","es":""},"value":45000,"unit":"EUR"}],"result":185000,"unit":"EUR"}],"rationale":{"fr":"","en":"260,000 − 30,000 − 45,000 = 185,000 (the refunded receivable reduces the net paid; the closing liability is not yet paid) (IAS 7, para. 35, wording before IFRS 18).","es":""},"references":["REF.IAS7.35"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000125","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"CONSTRUCTION","tested_point":"IAS7_TAX_PAYMENT_ENTRY","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IAS7.000013","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"entry"},"references":["IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"Harvane Building, a fictitious company, pays 150,000 of N tax instalments (recognised as an instalment receivable) and the 40,000 N−1 balance (as a liability). Record the entry.","es":""},"explanation":{"fr":"","en":"Tax paid 190,000, separate line in operating (IAS 7, para. 35, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Debiting tax expense: instalments go to a receivable and the prior-year balance settles the existing liability.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"INST","text":{"fr":"","en":"Tax instalments paid","es":""}},{"id":"CTL","text":{"fr":"","en":"Current tax liability","es":""}},{"id":"BANK","text":{"fr":"","en":"Bank","es":""}},{"id":"TAXX","text":{"fr":"","en":"Deferred tax expense","es":""}}],"lines":[{"id":"L1","account":"INST","side":"DEBIT","amount":150000},{"id":"L2","account":"CTL","side":"DEBIT","amount":40000},{"id":"L3","account":"BANK","side":"CREDIT","amount":190000}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000126","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"HEALTHCARE","tested_point":"IAS7_TAX_REVIEW","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000013","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"pitfalls"},"references":["IAS 7 §35","IAS 7 §36"],"exercise":{"prompt":{"fr":"","en":"Review the draft of Korlina Health, a fictitious group. Spot the errors.","es":""},"explanation":{"fr":"","en":"Current tax and balances; separate line; operating by default (IAS 7, paras. 35 and 36, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Not presenting income tax cash flows separately.","es":""},"format":"ERROR_SPOT","statements":[{"id":"E1","text":{"fr":"","en":"Tax paid: 520,000, the total tax expense (including 70,000 of deferred tax).","es":""},"erroneous":true,"correction":{"fr":"","en":"Start from current tax (450,000) and balances.","es":""}},{"id":"E2","text":{"fr":"","en":"Tax paid appears in \"other operating payments\", without its own line.","es":""},"erroneous":true,"correction":{"fr":"","en":"Separate line.","es":""}},{"id":"E3","text":{"fr":"","en":"Tax is classified as operating, as no cash flow can be identified.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000127","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"ENERGY","tested_point":"IAS7_TAX_ALLOCATION","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000013","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"allocation"},"references":["IAS 7 §36"],"exercise":{"prompt":{"fr":"","en":"What does IAS 7 say about identifying taxes with investing or financing?","es":""},"explanation":{"fr":"","en":"The first two statements are correct: the tax cash flow is often impracticable to identify and may arise in a different period from the transaction; when it is identifiable, it follows the classification of the transaction. Allocating tax across the three activities is therefore not always required (IAS 7, para. 36).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The tax cash flow is often impracticable to identify and may arise in a different period","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"If the cash flow is identifiable, it follows the classification of the transaction","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Allocating tax across the three activities is always mandatory","es":""},"correct":false,"feedback":{"fr":"","en":"The default classification is operating.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000128","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"LOGISTICS","tested_point":"IAS7_TAX_TOTAL","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IAS7.000013","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"allocation"},"references":["IAS 7 §36"],"exercise":{"prompt":{"fr":"","en":"Complete.","es":""},"explanation":{"fr":"","en":"Taxes paid are usually classified as operating activities; when tax cash flows are allocated over more than one class of activity, the entity discloses the total amount of taxes paid (IAS 7, para. 36).","es":""},"common_error":{"fr":"","en":"Giving only the operating portion: when taxes are allocated, the total taxes paid is disclosed.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"When tax cash flows are allocated over more than one activity, the entity discloses the {{b1}} amount of taxes paid.","es":""},"blanks":[{"id":"b1","mode":"CHOICE","choices":[{"id":"C1","text":{"fr":"","en":"total","es":""}},{"id":"C2","text":{"fr":"","en":"average","es":""}},{"id":"C3","text":{"fr":"","en":"deferred","es":""}}],"answer":"C1"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000129","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"REAL_ESTATE","tested_point":"IAS7_TAX_SORT","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000013","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"allocation"},"references":["IAS 7 §35","IAS 7 §36"],"exercise":{"prompt":{"fr":"","en":"Ostane Land, a fictitious company, analyses its tax payments (case data). Classify them.","es":""},"explanation":{"fr":"","en":"Operating by default; cash flow identifiable with a disposal → investing (IAS 7, paras. 35 and 36, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Classifying all taxes as operating: the tax computed and paid specifically on a disposal follows investing.","es":""},"format":"CLASSIFICATION","categories":[{"id":"OP","text":{"fr":"","en":"Operating activities","es":""}},{"id":"INV","text":{"fr":"","en":"Investing activities","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Corporate income tax instalments for the year","es":""},"category":"OP"},{"id":"I2","text":{"fr":"","en":"N−1 tax balance","es":""},"category":"OP"},{"id":"I3","text":{"fr":"","en":"Specific tax on the gain on a building, calculated and paid separately at the date of disposal","es":""},"category":"INV"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000130","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"MANUFACTURING","tested_point":"IAS7_TAX_ALLOCATION_JUDGMENT","difficulty":"EXPERT","estimated_time_s":480,"lesson_id":"LS.IAS7.000013","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"judgment"},"references":["IAS 7 §35","IAS 7 §36"],"exercise":{"prompt":{"fr":"","en":"Analyse the taxes of Ravenol Industry, a fictitious company.","es":""},"explanation":{"fr":"","en":"Operating by default, identification if identifiable, total disclosed if allocated (IAS 7, paras. 35 and 36, wording before IFRS 18).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"In N, Ravenol pays 600,000 of corporate income tax (instalments and balance, global tax) and 90,000 of a specific tax on the disposal of an unconsolidated subsidiary, calculated on the gain alone and paid on the day of the disposal (case legislation). Current tax for N 640,000; corporate income tax liability 110,000 at the opening and 150,000 at the closing.","es":""},"parts":[{"prompt":{"fr":"","en":"Check the corporate income tax paid.","es":""},"explanation":{"fr":"","en":"640,000 + 110,000 − 150,000 = 600,000 (IAS 7, para. 35, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Taking current tax expense as the amount paid, without adjusting for opening and closing balances.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Current tax","es":""},"value":"640000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Corporate income tax paid","es":""},"answer":600000,"tolerance":0,"unit":"EUR"}],"id":"P1","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Corporate income tax paid","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Current tax","es":""},"value":640000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"corporate income tax liability 110,000","es":""},"value":110000},{"symbol":"c","meaning":{"fr":"","en":"at the opening and 150,000","es":""},"value":150000}],"result":600000,"unit":"EUR"}],"rationale":{"fr":"","en":"640,000 + 110,000 − 150,000 = 600,000 (IAS 7, para. 35, wording before IFRS 18).","es":""},"references":["REF.IAS7.35"]}},{"prompt":{"fr":"","en":"Classification of the 90,000 specific tax?","es":""},"explanation":{"fr":"","en":"Identifiable cash flow → follows the transaction (IAS 7, para. 36).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Investing, because the cash flow is identifiable with the disposal (documented identification)","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Financing","es":""},"correct":false,"feedback":{"fr":"","en":"The disposal is an investing transaction.","es":""}}],"id":"P2","dimension":"PROFESSIONAL_JUDGMENT"},{"prompt":{"fr":"","en":"Total taxes paid to disclose.","es":""},"explanation":{"fr":"","en":"Allocation over two activities → disclose 600,000 + 90,000 = 690,000 (IAS 7, para. 36).","es":""},"common_error":{"fr":"","en":"Disclosing only corporate income tax: when allocated across activities, the total includes the specific tax.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Specific tax","es":""},"value":"90000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Total taxes paid","es":""},"answer":690000,"tolerance":0,"unit":"EUR"}],"id":"P3","dimension":"DOCUMENTATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Total taxes paid","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Ravenol pays 600,000 of corporate income tax","es":""},"value":600000},{"symbol":"b","meaning":{"fr":"","en":"Specific tax","es":""},"value":90000,"unit":"EUR"}],"result":690000,"unit":"EUR"}],"rationale":{"fr":"","en":"Allocation over two activities → disclose 600,000 + 90,000 = 690,000 (IAS 7, para. 36).","es":""},"references":["REF.IAS7.36"]}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000131","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"AGRIFOOD","tested_point":"IAS7_TAX_SEPARATE","difficulty":"ADVANCED","estimated_time_s":60,"lesson_id":"LS.IAS7.000013","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"rule"},"references":["IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"An entity using the direct method may group income tax paid with payments to suppliers, since it is an operating payment.","es":""},"explanation":{"fr":"","en":"False: income tax cash flows are disclosed separately (IAS 7, para. 35, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Not presenting income tax cash flows separately.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000132","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"MANUFACTURING","tested_point":"IAS7_INVESTEE_FLOWS","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS7.000014","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000014","section_id":"rule"},"references":["IAS 7 §37"],"exercise":{"prompt":{"fr":"","en":"For an equity-accounted associate, the investor presents only the cash flows exchanged with it, such as dividends and advances.","es":""},"explanation":{"fr":"","en":"True: under the equity method, the investor's statement is limited to the cash flows between it and the associate, such as dividends and advances; the associate's own flows are not included (IAS 7, para. 37).","es":""},"common_error":{"fr":"","en":"Presenting the associate's own cash flows: only flows between the investor and the investee are presented.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000133","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"ENERGY","tested_point":"IAS7_INVESTEE_SHARE_PROFIT","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS7.000014","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000014","section_id":"rule"},"references":["IAS 7 §20","IAS 7 §37"],"exercise":{"prompt":{"fr":"","en":"Belzane Energy, a fictitious company, recognises 300,000 as its share of profit of a joint venture, which distributed nothing. Effect in the statement?","es":""},"explanation":{"fr":"","en":"Only cash flows between investor and investee (IAS 7, para. 37); share removed from profit (IAS 7, para. 20, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Presenting the share of an associate's profit as a receipt.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No cash flow; −300,000 in the indirect reconciliation","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Operating receipt of 300,000","es":""},"correct":false,"feedback":{"fr":"","en":"Nothing was received.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000134","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES"],"dimension":"CALCULATION","format":"CALCULATION","context":"RETAIL","tested_point":"IAS7_INVESTEE_DIVIDENDS_CALC","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IAS7.000014","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000014","section_id":"how"},"references":["IAS 7 §37"],"exercise":{"prompt":{"fr":"","en":"Calculate the dividends received by Ilmane Retail, a fictitious company, from its associate (no other movement).","es":""},"explanation":{"fr":"","en":"2,600,000 + 380,000 − 2,730,000 = 250,000 (IAS 7, para. 37).","es":""},"common_error":{"fr":"","en":"Presenting the share of an associate's profit as a receipt.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Carrying amount at 1/1/N","es":""},"value":"2600000","unit":"EUR"},{"label":{"fr":"","en":"Share of profit","es":""},"value":"380000","unit":"EUR"},{"label":{"fr":"","en":"Carrying amount at 31/12/N","es":""},"value":"2730000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Dividends received","es":""},"answer":250000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Dividends received","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Carrying amount at 1/1/N","es":""},"value":2600000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Share of profit","es":""},"value":380000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Carrying amount at 31/12/N","es":""},"value":2730000,"unit":"EUR"}],"result":250000,"unit":"EUR"}],"rationale":{"fr":"","en":"2,600,000 + 380,000 − 2,730,000 = 250,000 (IAS 7, para. 37).","es":""},"references":["REF.IAS7.37"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000135","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES"],"dimension":"RECOGNITION","format":"MULTIPLE_CHOICE","context":"CONSTRUCTION","tested_point":"IAS7_INVESTEE_JV_ADVANCES","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000014","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000014","section_id":"rule"},"references":["IAS 7 §37","IAS 7 §38"],"exercise":{"prompt":{"fr":"","en":"Harvane Works, a fictitious company, holds 50% of an equity-accounted joint venture. Which items appear in its statement?","es":""},"explanation":{"fr":"","en":"Investments and advances between the two entities (IAS 7, paras. 37 and 38).","es":""},"common_error":{"fr":"","en":"Omitting advances made to a joint venture.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The capital contribution paid to the joint venture","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The cash advance made to the joint venture","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The joint venture's payments to its own suppliers","es":""},"correct":false,"feedback":{"fr":"","en":"Cash flows internal to the joint venture.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000136","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"TELECOM","tested_point":"IAS7_INVESTEE_REVIEW","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000014","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000014","section_id":"pitfalls"},"references":["IAS 7 §37","IAS 7 §38"],"exercise":{"prompt":{"fr":"","en":"Review the draft of Melzane Telecom, a fictitious company. Spot the errors.","es":""},"explanation":{"fr":"","en":"Only cash flows between investor and investees (IAS 7, paras. 37 and 38).","es":""},"format":"ERROR_SPOT","statements":[{"id":"E1","text":{"fr":"","en":"\"Share of profit of associates received +420,000\" in operating.","es":""},"erroneous":true,"correction":{"fr":"","en":"Not a cash flow: only dividends actually received.","es":""}},{"id":"E2","text":{"fr":"","en":"The 500,000 loan granted to the joint venture does not appear, because it is eliminated on consolidation.","es":""},"erroneous":true,"correction":{"fr":"","en":"An equity-accounted joint venture is not consolidated line by line: the loan is a cash flow to present.","es":""}},{"id":"E3","text":{"fr":"","en":"Dividends received from associates (150,000) appear on a separate line.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000137","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES"],"dimension":"CALCULATION","format":"MINI_CASE","context":"PHARMA","tested_point":"IAS7_INVESTEE_FULL","difficulty":"EXPERT","estimated_time_s":480,"lesson_id":"LS.IAS7.000014","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000014","section_id":"judgment"},"references":["IAS 7 §21","IAS 7 §37","IAS 7 §38"],"exercise":{"prompt":{"fr":"","en":"Analyse Ostane Lab's investment in an associate (Ostane Lab is a fictitious company).","es":""},"explanation":{"fr":"","en":"Full roll-forward, only cash flows exchanged (IAS 7, paras. 37 and 38).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"N data: equity-accounted carrying amount 1,000,000 at 1/1/N; cash subscription to a capital increase of the associate 300,000; share of profit 160,000; carrying amount 1,380,000 at 31/12/N; no other movement. Ostane's policy: dividends received as investing.","es":""},"parts":[{"prompt":{"fr":"","en":"Calculate dividends received.","es":""},"explanation":{"fr":"","en":"1,000,000 + 300,000 + 160,000 − 1,380,000 = 80,000 (IAS 7, para. 37).","es":""},"common_error":{"fr":"","en":"Leaving the period's subscription out of the movement schedule: dividends received would then be wrong.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Opening","es":""},"value":"1000000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Dividends received","es":""},"answer":80000,"tolerance":0,"unit":"EUR"}],"id":"P1","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Dividends received","es":""},"expression":"a + b + c - d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Opening","es":""},"value":1000000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"cash subscription to a capital increase of the associate 300,000","es":""},"value":300000},{"symbol":"c","meaning":{"fr":"","en":"share of profit 160,000","es":""},"value":160000},{"symbol":"d","meaning":{"fr":"","en":"carrying amount 1,380,000","es":""},"value":1380000}],"result":80000,"unit":"EUR"}],"rationale":{"fr":"","en":"1,000,000 + 300,000 + 160,000 − 1,380,000 = 80,000 (IAS 7, para. 37).","es":""},"references":["REF.IAS7.37"]}},{"prompt":{"fr":"","en":"Net effect on Ostane's investing cash flows (outflow as negative).","es":""},"explanation":{"fr":"","en":"−300,000 + 80,000 = −220,000, on two separate lines (investment in the associate and dividends received) (IAS 7, paras. 21 and 38).","es":""},"common_error":{"fr":"","en":"Presenting only the net −220,000: subscription and dividends received appear on two separate lines.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Subscription","es":""},"value":"300000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Net effect","es":""},"answer":-220000,"tolerance":0,"unit":"EUR"}],"id":"P2","dimension":"APPLICATION"},{"prompt":{"fr":"","en":"The file must present the full roll-forward of the investment to support the 80,000.","es":""},"explanation":{"fr":"","en":"True: the simple formula is not enough when there is another movement (IAS 7, para. 37).","es":""},"common_error":{"fr":"","en":"Relying on the simple share-less-change formula: with another movement, the full schedule is needed.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P3","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000138","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CONTROL_OBTAINED_OR_LOST"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GROUP","tested_point":"IAS7_CONTROL_SEPARATE_LINE","difficulty":"INTERMEDIATE","estimated_time_s":45,"lesson_id":"LS.IAS7.000015","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"separate-line"},"references":["IAS 7 §39"],"exercise":{"prompt":{"fr":"","en":"The aggregate cash flows from acquiring a subsidiary are presented separately in investing activities.","es":""},"explanation":{"fr":"","en":"True: the aggregate cash flows arising from obtaining control of a subsidiary are presented separately and classified as investing activities (IAS 7, para. 39).","es":""},"common_error":{"fr":"","en":"Spreading the acquisition flows over various lines or classifying them as financing.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000139","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CONTROL_OBTAINED_OR_LOST"],"dimension":"CALCULATION","format":"CALCULATION","context":"RETAIL","tested_point":"IAS7_CONTROL_NET_OF_CASH","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IAS7.000015","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"separate-line"},"references":["IAS 7 §8","IAS 7 §42"],"exercise":{"prompt":{"fr":"","en":"The Calvesse group, a fictitious distributor, acquires 100% of a regional chain for 2,400,000 paid in cash; the chain holds 310,000 of cash and a cash-management overdraft of −60,000 (included in cash). Calculate.","es":""},"explanation":{"fr":"","en":"Cash acquired 310,000 − 60,000 = 250,000; line −(2,400,000 − 250,000) = −2,150,000 (IAS 7, paras. 8 and 42).","es":""},"common_error":{"fr":"","en":"Presenting the consideration paid without deducting the cash of the subsidiary acquired.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Price paid","es":""},"value":"2400000","unit":"EUR"},{"label":{"fr":"","en":"Cash","es":""},"value":"310000","unit":"EUR"},{"label":{"fr":"","en":"Overdraft","es":""},"value":"-60000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Cash and cash equivalents acquired","es":""},"answer":250000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Acquisition line (outflow as negative)","es":""},"answer":-2150000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S2","meaning":{"fr":"","en":"Acquisition line (outflow as negative)","es":""},"expression":"-(a - b)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Price paid","es":""},"value":2400000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Cash and cash equivalents acquired","es":""},"value":250000,"unit":"EUR"}],"result":-2150000,"unit":"EUR"}],"references":["REF.IAS7.8","REF.IAS7.42"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000140","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CONTROL_OBTAINED_OR_LOST"],"dimension":"CALCULATION","format":"CALCULATION","context":"MANUFACTURING","tested_point":"IAS7_CONTROL_DISPOSAL","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IAS7.000015","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"numeric-example"},"references":["IAS 7 §41","IAS 7 §42"],"exercise":{"prompt":{"fr":"","en":"The Estarne group, a fictitious manufacturer, sells 100% of a foundry subsidiary for 1,800,000 received; the subsidiary held 240,000 of cash. In the same month, it acquires a machining subsidiary for 1,500,000 paid, which held 90,000. Calculate the lines.","es":""},"explanation":{"fr":"","en":"Disposal 1,800,000 − 240,000 = +1,560,000; acquisition −(1,500,000 − 90,000) = −1,410,000; two lines, without offsetting (IAS 7, paras. 41 and 42).","es":""},"common_error":{"fr":"","en":"Offsetting the acquisition of one subsidiary and the disposal of another on the same line.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Disposal price","es":""},"value":"1800000","unit":"EUR"},{"label":{"fr":"","en":"Acquisition price","es":""},"value":"1500000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Disposal line","es":""},"answer":1560000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Acquisition line (as negative)","es":""},"answer":-1410000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S2","meaning":{"fr":"","en":"Acquisition line (as negative)","es":""},"expression":"-(a - b)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Acquisition price","es":""},"value":1500000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"which held 90,000","es":""},"value":90000}],"result":-1410000,"unit":"EUR"}],"references":["REF.IAS7.41","REF.IAS7.42"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000141","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CONTROL_OBTAINED_OR_LOST"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"TECHNOLOGY","tested_point":"IAS7_CONTROL_REVIEW","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000015","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"pitfalls"},"references":["IAS 7 §39","IAS 7 §41","IAS 7 §42"],"exercise":{"prompt":{"fr":"","en":"Review the draft consolidated statement of the Falbrine group, a fictitious publisher. Spot the errors.","es":""},"explanation":{"fr":"","en":"No offsetting (IAS 7, para. 41); acquired balances included in the net line (IAS 7, paras. 39 and 42).","es":""},"common_error":{"fr":"","en":"Including in working capital changes the receivables and inventories brought in by the subsidiary acquired.","es":""},"format":"ERROR_SPOT","statements":[{"id":"E1","text":{"fr":"","en":"\"Net change in scope −300,000\": acquisition of A (−1,100,000 net) and disposal of B (+800,000 net) on one line.","es":""},"erroneous":true,"correction":{"fr":"","en":"Two separate lines, without offsetting.","es":""}},{"id":"E2","text":{"fr":"","en":"A's receivables (180,000 at the acquisition date) are included in the increase in receivables deducted from profit.","es":""},"erroneous":true,"correction":{"fr":"","en":"Remove them: they form part of the acquisition line.","es":""}},{"id":"E3","text":{"fr":"","en":"The acquisition line is net of the cash held by A.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000142","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CONTROL_OBTAINED_OR_LOST"],"dimension":"DOCUMENTATION","format":"CLASSIFICATION","context":"HEALTHCARE","tested_point":"IAS7_CONTROL_DISCLOSURE","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000015","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"disclosures"},"references":["IAS 7 §40"],"exercise":{"prompt":{"fr":"","en":"The Gorvesse group, a fictitious laboratory network, prepares the note on the acquisition of the period. Are these disclosures required?","es":""},"explanation":{"fr":"","en":"Aggregate disclosures of the paragraph (IAS 7, para. 40).","es":""},"common_error":{"fr":"","en":"Adding information the standard does not require, such as a list of employees, or omitting the cash acquired.","es":""},"format":"CLASSIFICATION","categories":[{"id":"REQ","text":{"fr":"","en":"Required","es":""}},{"id":"NOT","text":{"fr":"","en":"Not required by IAS 7","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Total consideration paid","es":""},"category":"REQ"},{"id":"I2","text":{"fr":"","en":"Portion of consideration settled in cash","es":""},"category":"REQ"},{"id":"I3","text":{"fr":"","en":"Cash of the subsidiary acquired","es":""},"category":"REQ"},{"id":"I4","text":{"fr":"","en":"Non-cash assets and liabilities, by major category","es":""},"category":"REQ"},{"id":"I5","text":{"fr":"","en":"Named list of the subsidiary's employees","es":""},"category":"NOT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000143","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CONTROL_OBTAINED_OR_LOST"],"dimension":"CALCULATION","format":"CALCULATION","context":"LOGISTICS","tested_point":"IAS7_CONTROL_WORKING_CAPITAL","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IAS7.000015","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"how"},"references":["IAS 7 §39","IAS 7 §42"],"exercise":{"prompt":{"fr":"","en":"The Hallorne group, a fictitious logistics company, acquires a subsidiary in N. Consolidated inventories: 600,000 at 1/1/N, 900,000 at 31/12/N; inventories of the subsidiary at the acquisition date 220,000. What amount is deducted from profit in the reconciliation?","es":""},"explanation":{"fr":"","en":"900,000 − 600,000 − 220,000 = 80,000: the inventories acquired are already in the acquisition line (IAS 7, paras. 39 and 42).","es":""},"common_error":{"fr":"","en":"Including in working capital changes the receivables and inventories brought in by the subsidiary acquired.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Opening","es":""},"value":"600000","unit":"EUR"},{"label":{"fr":"","en":"Closing","es":""},"value":"900000","unit":"EUR"},{"label":{"fr":"","en":"Inventories acquired","es":""},"value":"220000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Increase in inventories due to operations","es":""},"answer":80000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Increase in inventories due to operations","es":""},"expression":"a - b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Closing","es":""},"value":900000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening","es":""},"value":600000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Inventories acquired","es":""},"value":220000,"unit":"EUR"}],"result":80000,"unit":"EUR","rationale":{"fr":"","en":"900,000 − 600,000 − 220,000 = 80,000: the inventories acquired are already in the acquisition line (IAS 7, paras. 39 and 42).","es":""}}],"references":["REF.IAS7.39","REF.IAS7.42"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000144","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CONTROL_OBTAINED_OR_LOST"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"BANKING","tested_point":"IAS7_CONTROL_INVESTMENT_ENTITY","difficulty":"ADVANCED","estimated_time_s":60,"lesson_id":"LS.IAS7.000015","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"disclosures"},"references":["IAS 7 §40","IAS 7 §40A"],"exercise":{"prompt":{"fr":"","en":"An investment entity that measures a subsidiary at fair value through profit or loss is not required to disclose the cash or the assets and liabilities by category of that subsidiary on its acquisition.","es":""},"explanation":{"fr":"","en":"True: exemption from points (c) and (d) (IAS 7, paras. 40 and 40A).","es":""},"common_error":{"fr":"","en":"Extending the exemption to all disclosures: only points (c) and (d) are exempted.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000145","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CONTROL_OBTAINED_OR_LOST"],"dimension":"APPLICATION","format":"MINI_CASE","context":"GROUP","tested_point":"IAS7_CONTROL_FULL","difficulty":"EXPERT","estimated_time_s":480,"lesson_id":"LS.IAS7.000015","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"judgment"},"references":["IAS 7 §39","IAS 7 §40","IAS 7 §42","IAS 7 §43"],"exercise":{"prompt":{"fr":"","en":"Prepare the treatment of the acquisition of Isparne by the Jurvanne group, a fictitious restaurant group.","es":""},"explanation":{"fr":"","en":"Net line, detailed disclosure, acquired balances excluded from working capital (IAS 7, paras. 39, 40 and 42).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"On 1/7/N, Jurvanne acquires 100% of Isparne for total consideration of 3,000,000: 2,500,000 paid in cash and 500,000 in new Jurvanne shares. Isparne's balance sheet at the acquisition date (amounts used on consolidation): cash 400,000; fixed assets 2,100,000; inventories 300,000; receivables 150,000; trade payables 350,000; borrowing 600,000.","es":""},"parts":[{"prompt":{"fr":"","en":"Acquisition line in the consolidated statement (outflow as negative).","es":""},"explanation":{"fr":"","en":"−(2,500,000 − 400,000) = −2,100,000; the share portion is not a cash flow (IAS 7, paras. 42 and 43).","es":""},"common_error":{"fr":"","en":"Presenting the total price including the share-settled part, or not deducting the cash acquired.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Paid in cash","es":""},"value":"2500000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Net acquisition line","es":""},"answer":-2100000,"tolerance":0,"unit":"EUR"}],"id":"P1","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Net acquisition line","es":""},"expression":"-(a - b)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Paid in cash","es":""},"value":2500000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"cash 400,000","es":""},"value":400000}],"result":-2100000,"unit":"EUR"}],"references":["REF.IAS7.42","REF.IAS7.43"]}},{"prompt":{"fr":"","en":"What does the note mention?","es":""},"explanation":{"fr":"","en":"Paragraph disclosures (IAS 7, para. 40); share portion without cash (IAS 7, para. 43).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Total consideration 3,000,000, of which 2,500,000 in cash","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Isparne's cash acquired 400,000","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Assets and liabilities by category: fixed assets, inventories, receivables, trade payables, borrowing","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"A financing line of 500,000 for the shares issued","es":""},"correct":false,"feedback":{"fr":"","en":"Non-cash issue: excluded from the statement.","es":""}}],"id":"P2","dimension":"DOCUMENTATION"},{"prompt":{"fr":"","en":"Isparne's inventories (300,000) and receivables (150,000) at 1/7/N must not be included in working capital changes in the consolidated reconciliation.","es":""},"explanation":{"fr":"","en":"True: they form part of the acquisition transaction presented on one line (IAS 7, paras. 39 and 42).","es":""},"common_error":{"fr":"","en":"Including the inventories and receivables acquired in working-capital changes: they are part of the acquisition line.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P3","dimension":"ANALYSIS"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000146","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CHANGES_WITHOUT_LOSS_OF_CONTROL"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GROUP","tested_point":"IAS7_NCI_FINANCING","difficulty":"INTERMEDIATE","estimated_time_s":45,"lesson_id":"LS.IAS7.000015","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"without-loss-of-control"},"references":["IAS 7 §42A"],"exercise":{"prompt":{"fr":"","en":"The sale by the parent of 15% of a subsidiary that it continues to control is classified as financing activities.","es":""},"explanation":{"fr":"","en":"True: change in interest without loss of control (IAS 7, para. 42A).","es":""},"common_error":{"fr":"","en":"Classifying the sale as investing: without loss of control it is a transaction between owners, in financing.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000147","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CHANGES_WITHOUT_LOSS_OF_CONTROL"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"RETAIL","tested_point":"IAS7_NCI_PURCHASE","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS7.000015","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"without-loss-of-control"},"references":["IAS 7 §42A","IAS 7 §42B"],"exercise":{"prompt":{"fr":"","en":"The Kelsane group, a fictitious distributor, controls a 60% subsidiary and buys 25% from the other shareholders for 900,000. Classification?","es":""},"explanation":{"fr":"","en":"Equity transaction, classified as financing (IAS 7, paras. 42A and 42B).","es":""},"common_error":{"fr":"","en":"Classifying as investing the purchase of additional interests in a subsidiary already controlled.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Financing: transaction with owners","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Investing, line net of the subsidiary's cash","es":""},"correct":false,"feedback":{"fr":"","en":"That treatment applies to obtaining control.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000148","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CHANGES_WITHOUT_LOSS_OF_CONTROL"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"ENERGY","tested_point":"IAS7_NCI_REVIEW","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000015","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"without-loss-of-control"},"references":["IAS 7 §39","IAS 7 §42","IAS 7 §42A"],"exercise":{"prompt":{"fr":"","en":"Review the comments of Darvel Energy, a fictitious group. Spot the errors.","es":""},"explanation":{"fr":"","en":"Obtaining control → investing (IAS 7, paras. 39 and 42); change in interest without loss of control → financing (IAS 7, para. 42A).","es":""},"format":"ERROR_SPOT","statements":[{"id":"E1","text":{"fr":"","en":"Going from 55% to 75% in a subsidiary already controlled (700,000) appears in investing, because we are buying shares.","es":""},"erroneous":true,"correction":{"fr":"","en":"Financing: no change of control.","es":""}},{"id":"E2","text":{"fr":"","en":"Going from 30% to 65% in another company, which gives us control, appears in investing, net of its cash.","es":""},"erroneous":false},{"id":"E3","text":{"fr":"","en":"Dividends paid to minority shareholders of a subsidiary are transactions with owners, unrelated to control.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000149","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CHANGES_WITHOUT_LOSS_OF_CONTROL"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"GROUP","tested_point":"IAS7_NCI_CONTROL_JUDGMENT","difficulty":"EXPERT","estimated_time_s":480,"lesson_id":"LS.IAS7.000015","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"judgment"},"references":["IAS 7 §39","IAS 7 §42","IAS 7 §42A"],"exercise":{"prompt":{"fr":"","en":"Analyse two transactions of the Morvesse group, a fictitious services group.","es":""},"explanation":{"fr":"","en":"Control before and after the transaction determines the classification (IAS 7, paras. 39 and 42A).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"In N: (1) Morvesse sells 20% of its subsidiary Nesbrane (90% owned) for 1,200,000; it retains control (conclusion documented under IFRS 10). (2) Morvesse increases its interest in Orlesse from 45% to 70% for 2,000,000 paid; it obtains control; Orlesse holds 350,000 of cash.","es":""},"parts":[{"prompt":{"fr":"","en":"Classify the two transactions.","es":""},"explanation":{"fr":"","en":"Control retained → financing (IAS 7, para. 42A); control obtained → investing (IAS 7, para. 39).","es":""},"common_error":{"fr":"","en":"Classifying every change in ownership as investing: only obtaining or losing control leads there.","es":""},"format":"CLASSIFICATION","categories":[{"id":"INV","text":{"fr":"","en":"Investing activities","es":""}},{"id":"FIN","text":{"fr":"","en":"Financing activities","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Sale of 20% of Nesbrane","es":""},"category":"FIN"},{"id":"I2","text":{"fr":"","en":"Obtaining control of Orlesse","es":""},"category":"INV"},{"id":"I3","text":{"fr":"","en":"Later purchase of 10% of Orlesse after obtaining control","es":""},"category":"FIN"}],"id":"P1","dimension":"APPLICATION"},{"prompt":{"fr":"","en":"Amounts presented.","es":""},"explanation":{"fr":"","en":"+1,200,000 in financing; −(2,000,000 − 350,000) = −1,650,000 in investing (IAS 7, paras. 42 and 42A).","es":""},"common_error":{"fr":"","en":"Presenting Orlesse's price without deducting its cash, or classifying the Nesbrane share sale as investing.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Orlesse price","es":""},"value":"2000000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Financing: sale of Nesbrane interests","es":""},"answer":1200000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Investing: obtaining control of Orlesse (as negative)","es":""},"answer":-1650000,"tolerance":0,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION","formula":{"lines":[{"step":"S2","meaning":{"fr":"","en":"Investing: obtaining control of Orlesse (as negative)","es":""},"expression":"-(a - b)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Orlesse price","es":""},"value":2000000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Orlesse holds 350,000 of cash","es":""},"value":350000}],"result":-1650000,"unit":"EUR"}],"references":["REF.IAS7.42","REF.IAS7.42A"]}},{"prompt":{"fr":"","en":"The classification of each transaction depends on a conclusion on control, which must be documented.","es":""},"explanation":{"fr":"","en":"True: obtaining control leads to investing (IAS 7, para. 39), a change in ownership without loss of control to financing (IAS 7, para. 42A); the conclusion on control therefore drives the classification and must be documented.","es":""},"common_error":{"fr":"","en":"Classifying the transaction without concluding on control: that conclusion decides investing or financing.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P3","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000150","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.NON_CASH.NON_CASH_TRANSACTIONS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"RETAIL","tested_point":"IAS7_NONCASH_EXCLUDED","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS7.000016","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000016","section_id":"rule"},"references":["IAS 7 §43"],"exercise":{"prompt":{"fr":"","en":"Investing and financing transactions that do not use cash are excluded from the statement of cash flows and disclosed elsewhere.","es":""},"explanation":{"fr":"","en":"True: investing and financing transactions that do not use cash are excluded from the statement, as they are not cash flows; they are disclosed elsewhere in the financial statements (IAS 7, para. 43).","es":""},"common_error":{"fr":"","en":"Showing a non-cash transaction in the statement, or conversely leaving it out of the notes.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000151","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.NON_CASH.NON_CASH_TRANSACTIONS"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"TECHNOLOGY","tested_point":"IAS7_NONCASH_SHARE_ACQUISITION","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS7.000016","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000016","section_id":"examples"},"references":["IAS 7 §43","IAS 7 §44"],"exercise":{"prompt":{"fr":"","en":"Quentane, a fictitious publisher, acquires 100% of a start-up by issuing only new shares; the start-up has no cash. Effect in the consolidated statement?","es":""},"explanation":{"fr":"","en":"Acquisition of an entity by issuing shares: non-cash transaction (IAS 7, paras. 43 and 44).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No cash flow; the transaction is described in the notes","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Negative investing and positive financing of the same amount","es":""},"correct":false,"feedback":{"fr":"","en":"No cash moved.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000152","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.NON_CASH.NON_CASH_TRANSACTIONS"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"TRANSPORT","tested_point":"IAS7_NONCASH_SORT","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000016","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000016","section_id":"examples"},"references":["IAS 7 §17","IAS 7 §43","IAS 7 §44"],"exercise":{"prompt":{"fr":"","en":"Rostelle, a fictitious coach company, lists its transactions. Classify them.","es":""},"explanation":{"fr":"","en":"Non-cash transactions excluded (IAS 7, paras. 43 and 44); later payments presented (IAS 7, para. 17).","es":""},"common_error":{"fr":"","en":"Also excluding later payments: the acquisition is non-cash, but repayments and lease payments made afterwards are cash flows.","es":""},"format":"CLASSIFICATION","categories":[{"id":"CASH","text":{"fr":"","en":"Cash flow presented in the statement","es":""}},{"id":"NONCASH","text":{"fr":"","en":"Non-cash transaction, disclosed elsewhere","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Coaches leased","es":""},"category":"NONCASH"},{"id":"I2","text":{"fr":"","en":"Capital element of lease payments made","es":""},"category":"CASH"},{"id":"I3","text":{"fr":"","en":"Depot bought by assuming the seller's loan","es":""},"category":"NONCASH"},{"id":"I4","text":{"fr":"","en":"Later repayment of that loan","es":""},"category":"CASH"},{"id":"I5","text":{"fr":"","en":"Conversion of a shareholder loan into capital","es":""},"category":"NONCASH"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000153","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.NON_CASH.NON_CASH_TRANSACTIONS"],"dimension":"CALCULATION","format":"CALCULATION","context":"MANUFACTURING","tested_point":"IAS7_NONCASH_INVESTING_CALC","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IAS7.000016","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000016","section_id":"numeric-example"},"references":["IAS 7 §43","IAS 7 §44"],"exercise":{"prompt":{"fr":"","en":"Tremane, a fictitious furniture maker, increases its fixed assets by 2,000,000 in N: 700,000 leased, 400,000 received for shares, the rest paid in cash. Investing payments?","es":""},"explanation":{"fr":"","en":"2,000,000 − 700,000 − 400,000 = 900,000 (IAS 7, paras. 43 and 44).","es":""},"common_error":{"fr":"","en":"Including in payments an acquisition financed by a lease.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Total increase","es":""},"value":"2000000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Investing payments","es":""},"answer":900000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000154","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.NON_CASH.NON_CASH_TRANSACTIONS"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"LOGISTICS","tested_point":"IAS7_NONCASH_LEASE_ENTRY","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IAS7.000016","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000016","section_id":"entry"},"references":["IAS 7 §43","IAS 7 §44"],"exercise":{"prompt":{"fr":"","en":"Valesse, a fictitious logistics company, leases a warehouse: right-of-use asset and lease liability of 1,800,000. Record the entry.","es":""},"explanation":{"fr":"","en":"No bank: transaction excluded from the statement and disclosed elsewhere (IAS 7, paras. 43 and 44).","es":""},"common_error":{"fr":"","en":"Presenting in the statement a lease acquisition as investing and a borrowing as financing.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"ROU","text":{"fr":"","en":"Right-of-use assets","es":""}},{"id":"LL","text":{"fr":"","en":"Lease liability","es":""}},{"id":"BANK","text":{"fr":"","en":"Bank","es":""}},{"id":"LOAN","text":{"fr":"","en":"Bank borrowings","es":""}}],"lines":[{"id":"L1","account":"ROU","side":"DEBIT","amount":1800000},{"id":"L2","account":"LL","side":"CREDIT","amount":1800000}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000155","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.NON_CASH.NON_CASH_TRANSACTIONS"],"dimension":"JOURNAL_ENTRY","format":"MINI_CASE","context":"ENERGY","tested_point":"IAS7_NONCASH_CONVERSION_ENTRY","difficulty":"ADVANCED","estimated_time_s":390,"lesson_id":"LS.IAS7.000016","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000016","section_id":"entry"},"references":["IAS 7 §43","IAS 7 §44"],"exercise":{"prompt":{"fr":"","en":"Analyse the conversion of Wintrane Energy, a fictitious company.","es":""},"explanation":{"fr":"","en":"No cash: entry without the bank, disclosure elsewhere (IAS 7, paras. 43 and 44).","es":""},"common_error":{"fr":"","en":"Not disclosing elsewhere in the financial statements a conversion of debt into equity.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"The holders of Wintrane's convertible bonds (2,000,000) convert their securities into 400,000 shares with a par value of 1; the difference goes to share premium (case data; initial equity component ignored, teaching assumption).","es":""},"parts":[{"prompt":{"fr":"","en":"Record the conversion entry.","es":""},"explanation":{"fr":"","en":"Conversion of debt to equity, without cash (IAS 7, para. 44).","es":""},"common_error":{"fr":"","en":"Crediting cash: the conversion settles the debt with shares, with no cash movement.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"BOND","text":{"fr":"","en":"Convertible bonds","es":""}},{"id":"CAP","text":{"fr":"","en":"Share capital","es":""}},{"id":"PREM","text":{"fr":"","en":"Share premium","es":""}},{"id":"BANK","text":{"fr":"","en":"Bank","es":""}}],"lines":[{"id":"L1","account":"BOND","side":"DEBIT","amount":2000000},{"id":"L2","account":"CAP","side":"CREDIT","amount":400000},{"id":"L3","account":"PREM","side":"CREDIT","amount":1600000}],"id":"P1","dimension":"JOURNAL_ENTRY"},{"prompt":{"fr":"","en":"The conversion must be described elsewhere in the financial statements, although it does not appear in the statement.","es":""},"explanation":{"fr":"","en":"True: converting debt to equity uses no cash, so it is excluded from the statement; it must nevertheless be described elsewhere in the financial statements to provide the relevant information (IAS 7, para. 43).","es":""},"common_error":{"fr":"","en":"Thinking a transaction absent from the statement needs no disclosure: it must be described in the notes.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P2","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000156","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.NON_CASH.NON_CASH_TRANSACTIONS"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"HOSPITALITY","tested_point":"IAS7_NONCASH_REVIEW","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000016","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000016","section_id":"pitfalls"},"references":["IAS 7 §43","IAS 7 §44"],"exercise":{"prompt":{"fr":"","en":"Review the draft statement of Yselne Hotels, a fictitious chain. Spot the errors.","es":""},"explanation":{"fr":"","en":"Exclusion from the statement and disclosure elsewhere (IAS 7, paras. 43 and 44).","es":""},"common_error":{"fr":"","en":"Presenting in the statement a lease acquisition as investing and a borrowing as financing.","es":""},"format":"ERROR_SPOT","statements":[{"id":"E1","text":{"fr":"","en":"\"Acquisition of hotels −5,000,000\" and \"New lease liabilities +5,000,000\" for hotels leased.","es":""},"erroneous":true,"correction":{"fr":"","en":"Non-cash transaction: exclude and describe in the notes.","es":""}},{"id":"E2","text":{"fr":"","en":"The capital element of lease payments made in N appears in financing.","es":""},"erroneous":false},{"id":"E3","text":{"fr":"","en":"The conversion of a shareholder loan (800,000) into capital is omitted from both the statement and the notes.","es":""},"erroneous":true,"correction":{"fr":"","en":"Excluded from the statement, but described in the notes.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000157","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.NON_CASH.NON_CASH_TRANSACTIONS"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"REAL_ESTATE","tested_point":"IAS7_NONCASH_EXAMPLES","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IAS7.000016","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000016","section_id":"examples"},"references":["IAS 7 §44"],"exercise":{"prompt":{"fr":"","en":"Complete.","es":""},"explanation":{"fr":"","en":"Examples of non-cash transactions (IAS 7, para. 44).","es":""},"common_error":{"fr":"","en":"Confusing it with a sale or income: assuming the liabilities or leasing is what avoids the cash flow.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"Acquiring an asset by assuming directly related {{b1}} or by means of a {{b2}} is a non-cash transaction.","es":""},"blanks":[{"id":"b1","mode":"CHOICE","choices":[{"id":"C1","text":{"fr":"","en":"liabilities","es":""}},{"id":"C2","text":{"fr":"","en":"revenues","es":""}}],"answer":"C1"},{"id":"b2","mode":"CHOICE","choices":[{"id":"C1","text":{"fr":"","en":"lease","es":""}},{"id":"C2","text":{"fr":"","en":"sale","es":""}}],"answer":"C1"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000158","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.NON_CASH.NON_CASH_TRANSACTIONS"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"AGRIFOOD","tested_point":"IAS7_NONCASH_MIXED","difficulty":"EXPERT","estimated_time_s":480,"lesson_id":"LS.IAS7.000016","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000016","section_id":"judgment"},"references":["IAS 7 §17","IAS 7 §43","IAS 7 §44"],"exercise":{"prompt":{"fr":"","en":"Break down the acquisition of a plant by Zorlesse, a fictitious cooperative.","es":""},"explanation":{"fr":"","en":"Only the part settled in cash enters the statement; the rest is described elsewhere (IAS 7, paras. 43 and 44).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Zorlesse acquires a plant for 3,000,000: 1,000,000 paid in cash on signing, 1,500,000 by assuming the seller's bank loan, 500,000 payable to the seller in 18 months. Over the following six months, Zorlesse repays 200,000 of the loan assumed (case data).","es":""},"parts":[{"prompt":{"fr":"","en":"Amounts presented in the statement for the year.","es":""},"explanation":{"fr":"","en":"Only the part paid in cash (1,000,000) is an investing cash flow; the debt assumed and the deferred amount are non-cash; the later repayment is a financing cash flow (IAS 7, paras. 17, 43 and 44).","es":""},"common_error":{"fr":"","en":"Presenting the full 3,000,000 price as investing: the debt assumed and the deferred payment are not cash flows of the year.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Total price","es":""},"value":"3000000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Investing payment","es":""},"answer":1000000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Loan repayment (financing)","es":""},"answer":200000,"tolerance":0,"unit":"EUR"}],"id":"P1","dimension":"CALCULATION"},{"prompt":{"fr":"","en":"What must the note describe?","es":""},"explanation":{"fr":"","en":"Complete information on the non-cash part (IAS 7, para. 43).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The assumption of the seller's loan (1,500,000)","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The deferred amount owed to the seller (500,000)","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The price paid in cash, already in the statement, as the only information","es":""},"correct":false,"feedback":{"fr":"","en":"The non-cash part must be described.","es":""}}],"id":"P2","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000159","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"MANUFACTURING","tested_point":"IAS7_FL_OBJECTIVE","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS7.000017","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"objective-and-changes"},"references":["IAS 7 §44A"],"exercise":{"prompt":{"fr":"","en":"The disclosure on liabilities arising from financing activities also covers non-cash changes.","es":""},"explanation":{"fr":"","en":"True: the disclosure on liabilities arising from financing activities covers both changes arising from cash flows and non-cash changes (IAS 7, para. 44A).","es":""},"common_error":{"fr":"","en":"Limiting the disclosure to cash flows: non-cash changes must also be given.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000160","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"RETAIL","tested_point":"IAS7_FL_CATEGORIES","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000017","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"objective-and-changes"},"references":["IAS 7 §44B"],"exercise":{"prompt":{"fr":"","en":"Calvesse is preparing its reconciliation. Which categories of changes may it need to present?","es":""},"explanation":{"fr":"","en":"The five categories, to the extent necessary (IAS 7, para. 44B).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Financing cash flows","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Obtaining or losing control","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Effect of foreign exchange changes","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Changes in fair value","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Other changes","es":""},"correct":true},{"id":"F","text":{"fr":"","en":"Change in trade receivables","es":""},"correct":false,"feedback":{"fr":"","en":"Unrelated to financing liabilities.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000161","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"APPLICATION","format":"CLASSIFICATION","context":"AGRIFOOD","tested_point":"IAS7_FL_SCOPE","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000017","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"scope"},"references":["IAS 7 §44C"],"exercise":{"prompt":{"fr":"","en":"Amberol, a fictitious distributor (policy: interest paid as operating), lists its liabilities. Which are included in the reconciliation?","es":""},"explanation":{"fr":"","en":"Liabilities whose cash flows are or will be classified as financing (IAS 7, para. 44C).","es":""},"common_error":{"fr":"","en":"Including ordinary trade payables in liabilities arising from financing activities.","es":""},"format":"CLASSIFICATION","categories":[{"id":"IN","text":{"fr":"","en":"In the reconciliation","es":""}},{"id":"OUT","text":{"fr":"","en":"Outside the reconciliation","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"5-year bank loan","es":""},"category":"IN"},{"id":"I2","text":{"fr":"","en":"Lease liabilities","es":""},"category":"IN"},{"id":"I3","text":{"fr":"","en":"Commercial paper issued","es":""},"category":"IN"},{"id":"I4","text":{"fr":"","en":"Trade payables for goods","es":""},"category":"OUT"},{"id":"I5","text":{"fr":"","en":"Payroll liabilities","es":""},"category":"OUT"},{"id":"I6","text":{"fr":"","en":"Accrued interest payable (interest classified as operating)","es":""},"category":"OUT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000162","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"ENERGY","tested_point":"IAS7_FL_HEDGING_ASSET","difficulty":"ADVANCED","estimated_time_s":75,"lesson_id":"LS.IAS7.000017","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"scope"},"references":["IAS 7 §44C"],"exercise":{"prompt":{"fr":"","en":"Wintrane hedges its dollar loan with a currency swap, an asset of 80,000; the swap's cash flows will be classified as financing (entity policy). Is the swap included in the disclosure?","es":""},"explanation":{"fr":"","en":"Assets hedging financing liabilities included (IAS 7, para. 44C).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Yes: a financial asset whose cash flows will be included in financing","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"No: only liabilities are concerned","es":""},"correct":false,"feedback":{"fr":"","en":"The requirement also covers certain financial assets.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000163","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"CALCULATION","format":"CALCULATION","context":"TRANSPORT","tested_point":"IAS7_FL_LINE_CALC","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IAS7.000017","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"numeric-example"},"references":["IAS 7 §44B"],"exercise":{"prompt":{"fr":"","en":"Rostelle lease liabilities: opening 900,000; capital element of lease payments 210,000; new leases 340,000; early termination of a lease reducing the liability by 30,000. Closing?","es":""},"explanation":{"fr":"","en":"Other changes 340,000 − 30,000 = 310,000; closing 900,000 − 210,000 + 310,000 = 1,000,000 (IAS 7, para. 44B).","es":""},"common_error":{"fr":"","en":"Adding the termination instead of deducting it, or treating new leases as financing cash flows.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Opening","es":""},"value":"900000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Change from financing cash flows (as negative)","es":""},"answer":-210000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Other changes (net)","es":""},"answer":310000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Closing","es":""},"answer":1000000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S2","meaning":{"fr":"","en":"Other changes (net)","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"new leases 340,000","es":""},"value":340000},{"symbol":"b","meaning":{"fr":"","en":"early termination of a lease reducing the liability by 30,000","es":""},"value":30000}],"result":310000,"unit":"EUR"},{"step":"S3","meaning":{"fr":"","en":"Closing","es":""},"expression":"a - b + c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Opening","es":""},"value":900000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"capital element of lease payments 210,000","es":""},"value":210000},{"symbol":"c","meaning":{"fr":"","en":"Other changes (net)","es":""},"value":310000,"unit":"EUR"}],"result":1000000,"unit":"EUR"}],"references":["REF.IAS7.44B"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000164","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"CALCULATION","format":"CALCULATION","context":"MANUFACTURING","tested_point":"IAS7_FL_DERIVE_CASH","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IAS7.000017","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"how"},"references":["IAS 7 §44B","IAS 7 §44D"],"exercise":{"prompt":{"fr":"","en":"Borrowings of Brindane, a fictitious manufacturer: opening 4,000,000; closing 4,350,000; borrowing assumed with a subsidiary acquired 600,000; exchange effect −50,000; drawdowns for the year 1,000,000. Calculate repayments and the \"financing cash flows\" column.","es":""},"explanation":{"fr":"","en":"Cash flows = 4,350,000 − 4,000,000 − 600,000 + 50,000 = −200,000; repayments = 1,000,000 + 200,000 = 1,200,000 (IAS 7, paras. 44B and 44D).","es":""},"common_error":{"fr":"","en":"Omitting non-cash changes (new leases, exchange, fair value) from the reconciliation.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Opening","es":""},"value":"4000000","unit":"EUR"},{"label":{"fr":"","en":"Closing","es":""},"value":"4350000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Financing cash flows column (net)","es":""},"answer":-200000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Repayments","es":""},"answer":1200000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000165","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"RECOGNITION","format":"MATCHING","context":"TELECOM","tested_point":"IAS7_FL_CHANGE_TYPES","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000017","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"objective-and-changes"},"references":["IAS 7 §44B"],"exercise":{"prompt":{"fr":"","en":"Match each event with the reconciliation column.","es":""},"explanation":{"fr":"","en":"Only the repayment is a cash flow; the other events are non-cash changes grouped by nature: obtaining or losing control, exchange effects, fair value changes and other changes (IAS 7, para. 44B).","es":""},"common_error":{"fr":"","en":"Treating a new lease or a currency remeasurement as financing cash flows: they are non-cash changes.","es":""},"format":"MATCHING","left":[{"id":"L1","text":{"fr":"","en":"Repayment of a loan","es":""}},{"id":"L2","text":{"fr":"","en":"Borrowings of a subsidiary bought","es":""}},{"id":"L3","text":{"fr":"","en":"Remeasurement of a yen loan","es":""}},{"id":"L4","text":{"fr":"","en":"Change in value of a hedging derivative","es":""}},{"id":"L5","text":{"fr":"","en":"Signing of a new lease","es":""}}],"right":[{"id":"R2","text":{"fr":"","en":"Obtaining or losing control","es":""}},{"id":"R3","text":{"fr":"","en":"Effect of foreign exchange changes","es":""}},{"id":"R4","text":{"fr":"","en":"Changes in fair value","es":""}},{"id":"R5","text":{"fr":"","en":"Other changes","es":""}},{"id":"R1","text":{"fr":"","en":"Financing cash flows","es":""}}],"pairs":[{"left":"L1","right":"R1"},{"left":"L2","right":"R2"},{"left":"L3","right":"R3"},{"left":"L4","right":"R4"},{"left":"L5","right":"R5"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000166","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"HOSPITALITY","tested_point":"IAS7_FL_REVIEW","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000017","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"pitfalls"},"references":["IAS 7 §44B","IAS 7 §44C","IAS 7 §44D"],"exercise":{"prompt":{"fr":"","en":"Review the draft note of Yselne Hotels. Spot the errors.","es":""},"explanation":{"fr":"","en":"Non-cash changes (IAS 7, para. 44B), scope (IAS 7, para. 44C), link with the balance sheet and the statement (IAS 7, para. 44D).","es":""},"common_error":{"fr":"","en":"Not linking the reconciliation to the statement of financial position and the statement of cash flows.","es":""},"format":"ERROR_SPOT","statements":[{"id":"E1","text":{"fr":"","en":"The reconciliation shows only the opening balance, financing cash flows and the closing balance; the difference is put on a \"miscellaneous\" line.","es":""},"erroneous":true,"correction":{"fr":"","en":"Detail the non-cash changes (new leases, exchange…).","es":""}},{"id":"E2","text":{"fr":"","en":"Trade payables (2,100,000) are included in total financing liabilities.","es":""},"erroneous":true,"correction":{"fr":"","en":"They are excluded.","es":""}},{"id":"E3","text":{"fr":"","en":"The financing cash flows column (−350,000) matches no total in the statement, with no explanation.","es":""},"erroneous":true,"correction":{"fr":"","en":"Provide the information linking the column to the statement.","es":""}},{"id":"E4","text":{"fr":"","en":"Lease liabilities are included in the reconciliation.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000167","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"BANKING","tested_point":"IAS7_FL_LINKS","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IAS7.000017","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"reconciliation"},"references":["IAS 7 §44D","IAS 7 §44E"],"exercise":{"prompt":{"fr":"","en":"Complete.","es":""},"explanation":{"fr":"","en":"Link (IAS 7, para. 44D) and separate presentation (IAS 7, para. 44E).","es":""},"common_error":{"fr":"","en":"Linking the reconciliation to the management report, or merging financing liabilities into an overall total with other items.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"With a reconciliation, the entity provides sufficient information to link its items to the statement of financial position and the {{b1}}. When combined with other assets and liabilities, the disclosure on financing liabilities is presented {{b2}}.","es":""},"blanks":[{"id":"b1","mode":"CHOICE","choices":[{"id":"C1","text":{"fr":"","en":"statement of cash flows","es":""}},{"id":"C2","text":{"fr":"","en":"management report","es":""}}],"answer":"C1"},{"id":"b2","mode":"CHOICE","choices":[{"id":"C1","text":{"fr":"","en":"separately","es":""}},{"id":"C2","text":{"fr":"","en":"in aggregate","es":""}}],"answer":"C1"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000168","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"APPLICATION","format":"ORDERING","context":"CONSTRUCTION","tested_point":"IAS7_FL_STEPS","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000017","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"how"},"references":["IAS 7 §44B","IAS 7 §44C","IAS 7 §44D"],"exercise":{"prompt":{"fr":"","en":"Put the preparation of the reconciliation in order.","es":""},"explanation":{"fr":"","en":"First set the scope of liabilities (and hedging assets) whose flows are financing (IAS 7, para. 44C), then start from opening balances, take the flows from the statement, add non-cash changes by nature (IAS 7, para. 44B) and check that the closing balance-sheet amounts are reached (IAS 7, para. 44D).","es":""},"common_error":{"fr":"","en":"Adding non-cash changes before setting the scope and opening balances, or skipping the check against closing balances.","es":""},"format":"ORDERING","steps":[{"id":"S1","text":{"fr":"","en":"List the liabilities (and hedging assets) whose cash flows are financing","es":""}},{"id":"S2","text":{"fr":"","en":"Bring in the opening balances from the balance sheet","es":""}},{"id":"S3","text":{"fr":"","en":"Take the financing cash flows from the statement","es":""}},{"id":"S4","text":{"fr":"","en":"Add non-cash changes by nature","es":""}},{"id":"S5","text":{"fr":"","en":"Check that the closing balances in the balance sheet are reached","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000169","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"CALCULATION","format":"CALCULATION","context":"REAL_ESTATE","tested_point":"IAS7_FL_TOTAL_CALC","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IAS7.000017","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"numeric-example"},"references":["IAS 7 §44B","IAS 7 §44D"],"exercise":{"prompt":{"fr":"","en":"Lemorne Property (case data). Borrowings: opening 6,000,000, drawdowns 1,500,000, repayments 900,000, fair value change on a loan measured at fair value −100,000. Lease liabilities: opening 500,000, capital element paid 80,000, new leases 200,000. Calculate.","es":""},"explanation":{"fr":"","en":"Cash flows 1,500,000 − 900,000 − 80,000 = 520,000; closing 6,500,000 + 520,000 − 100,000 + 200,000 = 7,120,000 (IAS 7, paras. 44B and 44D).","es":""},"common_error":{"fr":"","en":"Including the fair value change or new leases in financing cash flows: they are non-cash.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Borrowings opening","es":""},"value":"6000000","unit":"EUR"},{"label":{"fr":"","en":"Lease liabilities opening","es":""},"value":"500000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Total financing cash flows of these liabilities","es":""},"answer":520000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Total financing liabilities at closing","es":""},"answer":7120000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Total financing cash flows of these liabilities","es":""},"expression":"a - b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"drawdowns 1,500,000","es":""},"value":1500000},{"symbol":"b","meaning":{"fr":"","en":"repayments 900,000","es":""},"value":900000},{"symbol":"c","meaning":{"fr":"","en":"capital element paid 80,000","es":""},"value":80000}],"result":520000,"unit":"EUR"}],"references":["REF.IAS7.44B","REF.IAS7.44D"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000170","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"MANUFACTURING","tested_point":"IAS7_FL_SCOPE_JUDGMENT","difficulty":"EXPERT","estimated_time_s":480,"lesson_id":"LS.IAS7.000017","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"judgment"},"references":["IAS 7 §33","IAS 7 §44C","IAS 7 §44D"],"exercise":{"prompt":{"fr":"","en":"Define the scope of the reconciliation of Kelsane Industry, a fictitious company.","es":""},"explanation":{"fr":"","en":"The scope of the disclosure follows from the classification of cash flows as financing (IAS 7, para. 44C).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Kelsane classifies its interest paid as financing (entity policy, an option under the currently applicable wording). In the balance sheet: borrowings 3,000,000; accrued interest payable on these borrowings 45,000; trade payables 1,800,000; swap hedging the interest rate on the borrowings, an asset of 25,000, whose cash flows are classified as financing; current tax liability 120,000.","es":""},"parts":[{"prompt":{"fr":"","en":"Classify the items.","es":""},"explanation":{"fr":"","en":"Since interest paid is classified as financing, accrued interest falls within the scope; so does the hedging asset (IAS 7, para. 44C).","es":""},"common_error":{"fr":"","en":"Including trade payables or tax liabilities: their flows are not financing, so they fall outside the reconciliation.","es":""},"format":"CLASSIFICATION","categories":[{"id":"IN","text":{"fr":"","en":"In the reconciliation","es":""}},{"id":"OUT","text":{"fr":"","en":"Outside the reconciliation","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Borrowings","es":""},"category":"IN"},{"id":"I2","text":{"fr":"","en":"Accrued interest payable","es":""},"category":"IN"},{"id":"I3","text":{"fr":"","en":"Hedging swap (asset)","es":""},"category":"IN"},{"id":"I4","text":{"fr":"","en":"Trade payables","es":""},"category":"OUT"},{"id":"I5","text":{"fr":"","en":"Current tax liability","es":""},"category":"OUT"}],"id":"P1","dimension":"PROFESSIONAL_JUDGMENT"},{"prompt":{"fr":"","en":"Net amount at the opening of the reconciliation (the hedging asset is deducted).","es":""},"explanation":{"fr":"","en":"3,000,000 + 45,000 − 25,000 = 3,020,000 (IAS 7, paras. 44C and 44D).","es":""},"common_error":{"fr":"","en":"Adding the hedging asset to the liabilities: it is deducted from the net total.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Borrowings","es":""},"value":"3000000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Net total","es":""},"answer":3020000,"tolerance":0,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Net total","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Borrowings","es":""},"value":3000000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"accrued interest payable on these borrowings 45,000","es":""},"value":45000},{"symbol":"c","meaning":{"fr":"","en":"swap hedging the interest rate on the borrowings, an asset of 25,000","es":""},"value":25000}],"result":3020000,"unit":"EUR"}],"rationale":{"fr":"","en":"3,000,000 + 45,000 − 25,000 = 3,020,000 (IAS 7, paras. 44C and 44D).","es":""},"references":["REF.IAS7.44C","REF.IAS7.44D"]}},{"prompt":{"fr":"","en":"If Kelsane classified its interest paid as operating, accrued interest would leave the reconciliation; this link must be documented.","es":""},"explanation":{"fr":"","en":"True: the scope follows the classification of cash flows (IAS 7, paras. 33 and 44C, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Treating the reconciliation scope as fixed: it depends on the classification chosen for interest flows.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P3","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000171","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.SUPPLIER_FINANCE"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"RETAIL","tested_point":"IAS7_SF_OBJECTIVE","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS7.000018","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000018","section_id":"disclosures"},"references":["IAS 7 §44F"],"exercise":{"prompt":{"fr":"","en":"Disclosures on supplier finance arrangements must enable users to assess their effects on the entity's liabilities, cash flows and liquidity risk.","es":""},"explanation":{"fr":"","en":"True: the objective of these disclosures is to enable users to assess the effects of supplier finance arrangements on the entity's liabilities, cash flows and exposure to liquidity risk (IAS 7, para. 44F).","es":""},"common_error":{"fr":"","en":"Limiting the disclosure to the amount of liabilities involved: it must also shed light on cash flows and liquidity risk.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000172","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.SUPPLIER_FINANCE"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"AUTOMOTIVE","tested_point":"IAS7_SF_QUALIFY","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS7.000018","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000018","section_id":"characteristics"},"references":["IAS 7 §44G"],"exercise":{"prompt":{"fr":"","en":"Calvesse Auto, a fictitious parts supplier, sets up a programme: a factoring company offers suppliers payment of approved invoices within 10 days; Calvesse pays the factoring company at the 100-day due date. Classification?","es":""},"explanation":{"fr":"","en":"Provider who pays, later settlement by the entity (IAS 7, para. 44G).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Supplier finance arrangement, subject to the required disclosures","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Solely a credit enhancement, out of scope","es":""},"correct":false,"feedback":{"fr":"","en":"The provider pays the suppliers: it is not a mere guarantee.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000173","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.SUPPLIER_FINANCE"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"MANUFACTURING","tested_point":"IAS7_SF_EXCLUSIONS","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000018","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000018","section_id":"characteristics"},"references":["IAS 7 §44G"],"exercise":{"prompt":{"fr":"","en":"Classify these arrangements of Kelsane Industry.","es":""},"explanation":{"fr":"","en":"A supplier finance arrangement involves one or more finance providers paying suppliers, with the entity paying them on the same date or later: this is the case for the bank at 15/90 days and the platform. Instruments used only as credit enhancement, such as a letter of credit, and company credit cards are excluded (IAS 7, para. 44G).","es":""},"common_error":{"fr":"","en":"Treating a letter of credit used as a guarantee or a credit card as a supplier finance arrangement.","es":""},"format":"CLASSIFICATION","categories":[{"id":"SF","text":{"fr":"","en":"Supplier finance arrangement","es":""}},{"id":"NOT","text":{"fr":"","en":"Not a supplier finance arrangement","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Bank paying suppliers at 15 days, Kelsane repaying at 90 days","es":""},"category":"SF"},{"id":"I2","text":{"fr":"","en":"Letter of credit issued solely as a guarantee for a foreign supplier","es":""},"category":"NOT"},{"id":"I3","text":{"fr":"","en":"Corporate credit card used to pay small suppliers","es":""},"category":"NOT"},{"id":"I4","text":{"fr":"","en":"Platform where several funders offer suppliers early payment, Kelsane paying at the original due date","es":""},"category":"SF"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000174","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.SUPPLIER_FINANCE"],"dimension":"DOCUMENTATION","format":"MULTIPLE_CHOICE","context":"RETAIL","tested_point":"IAS7_SF_DISCLOSURE_LIST","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000018","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000018","section_id":"disclosures"},"references":["IAS 7 §44H"],"exercise":{"prompt":{"fr":"","en":"Amberol is preparing its note. Which items must it provide for its arrangements?","es":""},"explanation":{"fr":"","en":"For its supplier finance arrangements, Amberol discloses the terms and conditions, including guarantees given, the line items in which the liabilities are presented, and the type and effect of non-cash changes in those liabilities: these are points (a), (b) and (c) of the paragraph (IAS 7, para. 44H). Suppliers' margin rates are not part of it.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Terms and conditions, including guarantees given","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Balance sheet line items in which the liabilities are presented","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Type and effect of non-cash changes in these liabilities","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Each supplier's profit margin","es":""},"correct":false,"feedback":{"fr":"","en":"Information unrelated to the standard.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000175","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.SUPPLIER_FINANCE"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"AGRIFOOD","tested_point":"IAS7_SF_REVIEW","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000018","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000018","section_id":"pitfalls"},"references":["IAS 7 §44H"],"exercise":{"prompt":{"fr":"","en":"Review the draft note of Erminel Fresh, a fictitious distributor. Spot the errors.","es":""},"explanation":{"fr":"","en":"Complete disclosure at the beginning and end (IAS 7, para. 44H).","es":""},"common_error":{"fr":"","en":"Omitting the range of due dates for comparable trade payables outside the arrangement.","es":""},"format":"ERROR_SPOT","statements":[{"id":"E1","text":{"fr":"","en":"The note gives the range of due dates of liabilities under the arrangement (75 to 110 days), without that of comparable trade payables outside the arrangement.","es":""},"erroneous":true,"correction":{"fr":"","en":"Add the range outside the arrangement.","es":""}},{"id":"E2","text":{"fr":"","en":"The amounts are given only at year end.","es":""},"erroneous":true,"correction":{"fr":"","en":"At the beginning and end of the period.","es":""}},{"id":"E3","text":{"fr":"","en":"The note states the portion of liabilities already paid to suppliers by the provider.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000176","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.SUPPLIER_FINANCE"],"dimension":"CALCULATION","format":"CALCULATION","context":"HOSPITALITY","tested_point":"IAS7_SF_AMOUNTS","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IAS7.000018","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000018","section_id":"example"},"references":["IAS 7 §44H"],"exercise":{"prompt":{"fr":"","en":"Hallorne Catering, a fictitious company: liabilities under an arrangement 400,000 at the beginning and 560,000 at the end; of these, suppliers already paid by the bank 250,000 at the beginning and 410,000 at the end. Calculate.","es":""},"explanation":{"fr":"","en":"560,000 − 400,000 = 160,000; 560,000 − 410,000 = 150,000 (IAS 7, para. 44H).","es":""},"common_error":{"fr":"","en":"Mixing up the two amounts: the part not yet paid to suppliers is computed on the closing balance, not on the change.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Liabilities at end","es":""},"value":"560000","unit":"EUR"},{"label":{"fr":"","en":"Already paid at end","es":""},"value":"410000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Increase in liabilities under the arrangement","es":""},"answer":160000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Portion not yet paid to suppliers at the end","es":""},"answer":150000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S2","meaning":{"fr":"","en":"Portion not yet paid to suppliers at the end","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Liabilities at end","es":""},"value":560000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Already paid at end","es":""},"value":410000,"unit":"EUR"}],"result":150000,"unit":"EUR"}],"references":["REF.IAS7.44H"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000177","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.SUPPLIER_FINANCE"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"TECHNOLOGY","tested_point":"IAS7_SF_DEFINITION","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IAS7.000018","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000018","section_id":"characteristics"},"references":["IAS 7 §44G"],"exercise":{"prompt":{"fr":"","en":"Complete.","es":""},"explanation":{"fr":"","en":"In a supplier finance arrangement, the entity pays the provider on the same date as suppliers are paid or at a later date; the arrangement therefore gives it extended payment terms (IAS 7, para. 44G).","es":""},"common_error":{"fr":"","en":"Thinking the entity pays the finance provider earlier: the arrangement instead extends its payment terms.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"In a supplier finance arrangement, the entity pays the provider on the same date as the suppliers are paid or at a {{b1}} date; the arrangement provides it with {{b2}} payment terms.","es":""},"blanks":[{"id":"b1","mode":"CHOICE","choices":[{"id":"C1","text":{"fr":"","en":"later","es":""}},{"id":"C2","text":{"fr":"","en":"earlier","es":""}}],"answer":"C1"},{"id":"b2","mode":"CHOICE","choices":[{"id":"C1","text":{"fr":"","en":"extended","es":""}},{"id":"C2","text":{"fr":"","en":"shortened","es":""}}],"answer":"C1"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000178","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.SUPPLIER_FINANCE"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"RETAIL","tested_point":"IAS7_SF_JUDGMENT","difficulty":"EXPERT","estimated_time_s":480,"lesson_id":"LS.IAS7.000018","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000018","section_id":"judgment"},"references":["IAS 7 §44F","IAS 7 §44G","IAS 7 §44H"],"exercise":{"prompt":{"fr":"","en":"Analyse the arrangements of Morvesse Retail, a fictitious chain.","es":""},"explanation":{"fr":"","en":"Qualify, group or separate, quantify at the beginning and end (IAS 7, paras. 44G and 44H).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Morvesse has two programmes: (1) with bank A, food suppliers may be paid at 10 days, Morvesse repaying at 90 days; liabilities concerned 2,000,000 at the beginning and 2,600,000 at the end, of which 1,500,000 and 2,100,000 already paid by the bank; (2) with bank B, equipment suppliers are paid at 60 days by the bank, Morvesse repaying at 360 days with a guarantee from its parent; liabilities 300,000 and 500,000, all already paid by the bank. Comparable trade payables outside the arrangements: due dates of 30 to 60 days.","es":""},"parts":[{"prompt":{"fr":"","en":"How should the two programmes be presented?","es":""},"explanation":{"fr":"","en":"Dissimilar arrangements presented separately (IAS 7, para. 44H).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Separately: very different terms (360-day maturity, parent guarantee)","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Together, since the disclosure is aggregated","es":""},"correct":false,"feedback":{"fr":"","en":"Dissimilar arrangements are disclosed separately.","es":""}}],"id":"P1","dimension":"PROFESSIONAL_JUDGMENT"},{"prompt":{"fr":"","en":"Programme A: portion not yet paid to suppliers, at the beginning and end.","es":""},"explanation":{"fr":"","en":"2,000,000 − 1,500,000 = 500,000; 2,600,000 − 2,100,000 = 500,000 (IAS 7, para. 44H).","es":""},"common_error":{"fr":"","en":"Using total liabilities under the arrangement instead of deducting the part already paid by the provider.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Liabilities A beginning","es":""},"value":"2000000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Beginning","es":""},"answer":500000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"End","es":""},"answer":500000,"tolerance":0,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Beginning","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Liabilities A beginning","es":""},"value":2000000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"at the end, of which 1,500,000","es":""},"value":1500000}],"result":500000,"unit":"EUR"}],"references":["REF.IAS7.44H"]}},{"prompt":{"fr":"","en":"The note for programme B must mention the parent guarantee and the 360-day range, compared with 30 to 60 days outside the arrangement.","es":""},"explanation":{"fr":"","en":"True: terms (guarantees) and compared due dates (IAS 7, paras. 44F and 44H).","es":""},"common_error":{"fr":"","en":"Leaving out the guarantee or the maturity comparison: these terms are needed to assess the arrangement.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P3","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000179","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.CASH_COMPONENTS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"RETAIL","tested_point":"IAS7_CC_COMPONENTS","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS7.000019","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"components"},"references":["IAS 7 §45"],"exercise":{"prompt":{"fr":"","en":"The entity discloses the components of its cash and reconciles the amounts in the statement with the equivalent balance sheet items.","es":""},"explanation":{"fr":"","en":"True: the entity discloses the components of cash and cash equivalents and reconciles the amounts in the statement of cash flows to the equivalent items in the statement of financial position (IAS 7, para. 45).","es":""},"common_error":{"fr":"","en":"Giving only the cash total without reconciling it to the balance-sheet items.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000180","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.CASH_COMPONENTS"],"dimension":"CALCULATION","format":"CALCULATION","context":"HOSPITALITY","tested_point":"IAS7_CC_RECONCILIATION","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IAS7.000019","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"numeric-example"},"references":["IAS 7 §8","IAS 7 §45"],"exercise":{"prompt":{"fr":"","en":"Saldane Hotels' balance sheet at 31/12/N: cash and cash equivalents in assets 1,350,000; within financial liabilities, cash-management overdrafts 210,000 and a current bank loan 500,000. Cash in the statement?","es":""},"explanation":{"fr":"","en":"1,350,000 − 210,000 = 1,140,000; the loan remains financing (IAS 7, paras. 8 and 45).","es":""},"common_error":{"fr":"","en":"Not reconciling cash in the statement with the statement of financial position items (overdrafts included).","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Assets","es":""},"value":"1350000","unit":"EUR"},{"label":{"fr":"","en":"Cash-management overdrafts","es":""},"value":"210000","unit":"EUR"},{"label":{"fr":"","en":"Current loan","es":""},"value":"500000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Cash in the statement","es":""},"answer":1140000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Cash in the statement","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Assets","es":""},"value":1350000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Cash-management overdrafts","es":""},"value":210000,"unit":"EUR"}],"result":1140000,"unit":"EUR"}],"references":["REF.IAS7.8","REF.IAS7.45"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000181","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.CASH_COMPONENTS"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"TECHNOLOGY","tested_point":"IAS7_CC_POLICY_CHANGE","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS7.000019","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"components"},"references":["IAS 7 §46","IAS 7 §47"],"exercise":{"prompt":{"fr":"","en":"In N Jolvane decides to include in its equivalents 2-month deposits previously presented as investments. Effect on the comparative?","es":""},"explanation":{"fr":"","en":"Change in composition policy presented under IAS 8 (IAS 7, paras. 46 and 47, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Treating a change in the composition of cash outside IAS 8.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Treatment under IAS 8, in principle with restatement of the comparative","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"None: the change applies only prospectively, without disclosure","es":""},"correct":false,"feedback":{"fr":"","en":"A change in composition policy follows IAS 8.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000182","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.CASH_COMPONENTS"],"dimension":"DOCUMENTATION","format":"ORDERING","context":"MANUFACTURING","tested_point":"IAS7_CC_NOTE","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000019","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"how"},"references":["IAS 7 §45","IAS 7 §46","IAS 7 §48"],"exercise":{"prompt":{"fr":"","en":"Put the preparation of the cash note in order.","es":""},"explanation":{"fr":"","en":"Components and reconciliation (IAS 7, para. 45), policy (IAS 7, para. 46, wording before IFRS 18), unavailable cash (IAS 7, para. 48).","es":""},"common_error":{"fr":"","en":"Commenting on restricted cash before setting the components and the reconciliation with the balance sheet.","es":""},"format":"ORDERING","steps":[{"id":"S1","text":{"fr":"","en":"List the components used in the statement","es":""}},{"id":"S2","text":{"fr":"","en":"Reconcile cash in the statement with balance sheet items","es":""}},{"id":"S3","text":{"fr":"","en":"Describe the composition policy","es":""}},{"id":"S4","text":{"fr":"","en":"Identify significant unavailable balances and draft the commentary","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000183","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.CASH_COMPONENTS"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"RETAIL","tested_point":"IAS7_CC_REVIEW","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000019","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"pitfalls"},"references":["IAS 7 §45","IAS 7 §46","IAS 7 §47"],"exercise":{"prompt":{"fr":"","en":"Review the cash note of Tuvane Stores. Spot the errors.","es":""},"explanation":{"fr":"","en":"Reconciliation (IAS 7, para. 45), policy (IAS 7, para. 46, wording before IFRS 18), change under IAS 8 (IAS 7, para. 47).","es":""},"format":"ERROR_SPOT","statements":[{"id":"E1","text":{"fr":"","en":"Cash in the statement (2,300,000) differs from the balance sheet line (2,550,000) without a reconciliation; the difference comes from overdrafts.","es":""},"erroneous":true,"correction":{"fr":"","en":"Present the reconciliation (overdrafts −250,000).","es":""}},{"id":"E2","text":{"fr":"","en":"The note describes the policy for the composition of cash and cash equivalents.","es":""},"erroneous":false},{"id":"E3","text":{"fr":"","en":"The reclassification of investments into equivalents was made without mention or specific treatment.","es":""},"erroneous":true,"correction":{"fr":"","en":"Change in policy to be treated under IAS 8.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000184","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.CASH_COMPONENTS"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"BANKING","tested_point":"IAS7_CC_POLICY","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IAS7.000019","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"components"},"references":["IAS 7 §46","IAS 7 §47"],"exercise":{"prompt":{"fr":"","en":"Complete.","es":""},"explanation":{"fr":"","en":"Policy disclosed (IAS 7, para. 46, wording before IFRS 18); change under IAS 8 (IAS 7, para. 47).","es":""},"common_error":{"fr":"","en":"Treating a change in composition under IAS 21: it is a change in policy presented under IAS 8.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"The entity discloses the {{b1}} adopted to determine the composition of its cash; the effect of a change in it is reported under {{b2}}.","es":""},"blanks":[{"id":"b1","mode":"CHOICE","choices":[{"id":"C1","text":{"fr":"","en":"policy","es":""}},{"id":"C2","text":{"fr":"","en":"bank","es":""}}],"answer":"C1"},{"id":"b2","mode":"CHOICE","choices":[{"id":"C1","text":{"fr":"","en":"IAS 8","es":""}},{"id":"C2","text":{"fr":"","en":"IAS 21","es":""}}],"answer":"C1"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000185","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.CASH_COMPONENTS"],"dimension":"APPLICATION","format":"MATCHING","context":"LOGISTICS","tested_point":"IAS7_CC_MATCH","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000019","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"components"},"references":["IAS 7 §45","IAS 7 §46","IAS 7 §47"],"exercise":{"prompt":{"fr":"","en":"Match each item of the cash note with its source in IAS 7.","es":""},"explanation":{"fr":"","en":"Paragraphs on components, policy and its change (IAS 7, paras. 45, 46 and 47, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Linking the reclassification of investments to the components: it is a change in policy under IAS 8.","es":""},"format":"MATCHING","left":[{"id":"L1","text":{"fr":"","en":"Statement / balance sheet reconciliation","es":""}},{"id":"L2","text":{"fr":"","en":"Definition of equivalents adopted","es":""}},{"id":"L3","text":{"fr":"","en":"Reclassification of investments into equivalents","es":""}}],"right":[{"id":"R2","text":{"fr":"","en":"Composition policy","es":""}},{"id":"R3","text":{"fr":"","en":"Change in policy under IAS 8","es":""}},{"id":"R1","text":{"fr":"","en":"Components and reconciliation","es":""}}],"pairs":[{"left":"L1","right":"R1"},{"left":"L2","right":"R2"},{"left":"L3","right":"R3"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000186","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.RESTRICTED_CASH_AND_OTHER"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GROUP","tested_point":"IAS7_RC_REQUIRED","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS7.000019","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"restricted"},"references":["IAS 7 §48"],"exercise":{"prompt":{"fr":"","en":"Significant cash balances not available for use by the group are disclosed with a management commentary.","es":""},"explanation":{"fr":"","en":"True: the entity discloses the amount of significant cash balances it holds that are not available for use by the group, together with a commentary by management (IAS 7, para. 48).","es":""},"common_error":{"fr":"","en":"Disclosing the amount without management's commentary, or including insignificant restrictions.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000187","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.RESTRICTED_CASH_AND_OTHER"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"GROUP","tested_point":"IAS7_RC_EXAMPLE","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS7.000019","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"restricted"},"references":["IAS 7 §49"],"exercise":{"prompt":{"fr":"","en":"Which of these balances is a typical example of cash not available for use by the group?","es":""},"explanation":{"fr":"","en":"Exchange controls or legal restrictions (IAS 7, para. 49).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Cash of a subsidiary in a country prohibiting currency transfers to the parent","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"One-month deposit of a French subsidiary, freely transferable","es":""},"correct":false,"feedback":{"fr":"","en":"No restriction.","es":""}},{"id":"C","text":{"fr":"","en":"Cash on hand at head office","es":""},"correct":false,"feedback":{"fr":"","en":"Available.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000188","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.RESTRICTED_CASH_AND_OTHER"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"ENERGY","tested_point":"IAS7_RC_ENCOURAGED","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000019","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"encouraged"},"references":["IAS 7 §45","IAS 7 §50"],"exercise":{"prompt":{"fr":"","en":"Which disclosures does IAS 7 encourage without requiring them?","es":""},"explanation":{"fr":"","en":"Encouraged disclosures (IAS 7, para. 50); the reconciliation is required (IAS 7, para. 45).","es":""},"common_error":{"fr":"","en":"Presenting undrawn borrowing facilities as a mandatory disclosure.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Undrawn borrowing facilities","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Cash flows increasing capacity separately from those maintaining it","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Cash flows of each segment","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Reconciliation of cash with the balance sheet","es":""},"correct":false,"feedback":{"fr":"","en":"Required disclosure.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000189","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.RESTRICTED_CASH_AND_OTHER"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"AGRIFOOD","tested_point":"IAS7_RC_REVIEW","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000019","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"pitfalls"},"references":["IAS 7 §48","IAS 7 §49","IAS 7 §50"],"exercise":{"prompt":{"fr":"","en":"Review the note of Zorlesse Group, a fictitious group. Spot the errors.","es":""},"explanation":{"fr":"","en":"Unavailable cash: required disclosure (IAS 7, paras. 48 and 49); facilities: encouraged (IAS 7, para. 50).","es":""},"common_error":{"fr":"","en":"Omitting disclosure of significant cash trapped by exchange controls.","es":""},"format":"ERROR_SPOT","statements":[{"id":"E1","text":{"fr":"","en":"The 3,500,000 held by the subsidiary subject to exchange controls (18% of group cash) are not mentioned, because they are indeed included in cash.","es":""},"erroneous":true,"correction":{"fr":"","en":"Disclose the amount with a management commentary.","es":""}},{"id":"E2","text":{"fr":"","en":"\"IAS 7 requires us to publish our undrawn credit facilities.\"","es":""},"erroneous":true,"correction":{"fr":"","en":"Encouraged, not required.","es":""}},{"id":"E3","text":{"fr":"","en":"The note voluntarily separates maintenance investments from those increasing capacity.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000190","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.RESTRICTED_CASH_AND_OTHER"],"dimension":"APPLICATION","format":"TRUE_FALSE","context":"MANUFACTURING","tested_point":"IAS7_RC_CAPACITY","difficulty":"INTERMEDIATE","estimated_time_s":45,"lesson_id":"LS.IAS7.000019","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"encouraged"},"references":["IAS 7 §51"],"exercise":{"prompt":{"fr":"","en":"Separating cash flows that maintain operating capacity from those that increase it helps assess whether the entity is sacrificing future profitability for current liquidity.","es":""},"explanation":{"fr":"","en":"True: separating cash flows that maintain operating capacity from those that increase it helps users judge whether the entity invests adequately or sacrifices future profitability for current liquidity (IAS 7, para. 51).","es":""},"common_error":{"fr":"","en":"Presenting a single investment total: without the split, users cannot see whether future profitability is sacrificed.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000191","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.RESTRICTED_CASH_AND_OTHER"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"GROUP","tested_point":"IAS7_RC_JUDGMENT","difficulty":"EXPERT","estimated_time_s":480,"lesson_id":"LS.IAS7.000019","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"judgment"},"references":["IAS 7 §48","IAS 7 §49","IAS 7 §50"],"exercise":{"prompt":{"fr":"","en":"Prepare the cash disclosures of the Hallorne International group, a fictitious group.","es":""},"explanation":{"fr":"","en":"Assess the significance and durability of restrictions; distinguish required and encouraged (IAS 7, paras. 48, 49 and 50).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Consolidated cash at 31/12/N: 12,000,000. One subsidiary holds 2,400,000 in a country where exchange controls have prevented any transfer to the parent for two years; another subsidiary holds 150,000 temporarily blocked by a banking formality lifted in early January N+1. The group also has 5,000,000 of undrawn credit facilities (case data).","es":""},"parts":[{"prompt":{"fr":"","en":"What amount should be disclosed as unavailable to the group?","es":""},"explanation":{"fr":"","en":"2,400,000 is the significant balance not available to the group: it is disclosed with management's commentary; a temporary restriction judged insignificant does not call for the same disclosure. Taking 12,000,000 is wrong: being held by subsidiaries does not make cash unavailable (IAS 7, paras. 48 and 49).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"2,400,000, with a management commentary; the temporary 150,000 block does not call for the same disclosure if judged not significant","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"12,000,000, as all cash is held by subsidiaries","es":""},"correct":false,"feedback":{"fr":"","en":"Only balances unavailable to the group are covered.","es":""}}],"id":"P1","dimension":"PROFESSIONAL_JUDGMENT"},{"prompt":{"fr":"","en":"Share of consolidated cash durably unavailable.","es":""},"explanation":{"fr":"","en":"2,400,000 / 12,000,000 = 20%: a significant amount to disclose (IAS 7, para. 48).","es":""},"common_error":{"fr":"","en":"Relating the unavailable amount to one subsidiary's cash instead of consolidated cash.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Consolidated cash","es":""},"value":"12000000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Percentage","es":""},"answer":20,"tolerance":0,"unit":"%"}],"id":"P2","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Percentage","es":""},"expression":"(a / b) * 100","variables":[{"symbol":"a","meaning":{"fr":"","en":"One subsidiary holds 2,400,000","es":""},"value":2400000},{"symbol":"b","meaning":{"fr":"","en":"Consolidated cash","es":""},"value":12000000,"unit":"EUR"}],"result":20,"unit":"%"}],"rationale":{"fr":"","en":"2,400,000 / 12,000,000 = 20%: a significant amount to disclose (IAS 7, para. 48).","es":""},"references":["REF.IAS7.48"]}},{"prompt":{"fr":"","en":"The 5,000,000 of undrawn facilities may be disclosed voluntarily, with any restrictions.","es":""},"explanation":{"fr":"","en":"True: disclosure of undrawn borrowing facilities, with any restrictions, is encouraged rather than required; the entity may therefore give it voluntarily (IAS 7, para. 50).","es":""},"common_error":{"fr":"","en":"Believing undrawn facilities must be disclosed: the disclosure is only encouraged.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P3","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000192","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"LOGISTICS","tested_point":"IAS7_V2027_APPLICABLE_VERSION","difficulty":"BEGINNER","estimated_time_s":60,"lesson_id":"LS.IAS7.000020","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000020","section_id":"when"},"references":["IAS 7 §64","IFRS 18 §C1"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version: annual periods beginning on or after 1 January 2027. Transalme, a fictitious carrier, begins its period on 1 July 2026 and does not apply IFRS 18 early. Which version of IAS 7 does it apply to that period?","es":""},"explanation":{"fr":"","en":"The IAS 7 amendments apply with IFRS 18 (IAS 7, para. 64), mandatory for periods beginning on or after 1 January 2027 (IFRS 18, para. C1): a period beginning on 1 July 2026, without early application, stays under the current wording.","es":""},"common_error":{"fr":"","en":"Relying on the end date instead of the beginning date of the period.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The version amended by IFRS 18, because the period ends in 2027","es":""},"correct":false,"feedback":{"fr":"","en":"The test is the date on which the period begins, not the date on which it ends.","es":""}},{"id":"B","text":{"fr":"","en":"The current wording, as the period begins before 2027","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Either, because IAS 7 alone permits early application","es":""},"correct":false,"feedback":{"fr":"","en":"IAS 7 has no date of its own; it follows IFRS 18, which the entity does not apply early.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000193","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"APPLICATION","format":"CLASSIFICATION","context":"MANUFACTURING","tested_point":"IAS7_V2027_INTEREST_DIVIDENDS_CLASSIFICATION","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000022","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000022","section_id":"general-rule"},"references":["IAS 7 §33A","IAS 7 §34A","IAS 7 §32"],"exercise":{"prompt":{"fr":"","en":"Ferlane, a fictitious manufacturer with no main business activity of investing or providing financing to customers, applies IFRS 18 for its period beginning 1 January 2027. Classify each cash flow.","es":""},"explanation":{"fr":"","en":"In the version applicable with IFRS 18, dividends paid go to financing (IAS 7, para. 33A); interest paid, including interest capitalised in the cost of an asset (para. 32), goes to financing, and interest and dividends received to investing (para. 34A).","es":""},"common_error":{"fr":"","en":"Classifying the interest capitalised in the cost of the plant as investing, together with the construction expenditure.","es":""},"format":"CLASSIFICATION","categories":[{"id":"INVESTING","text":{"fr":"","en":"Investing activities","es":""}},{"id":"FINANCING","text":{"fr":"","en":"Financing activities","es":""}}],"items":[{"id":"i1","text":{"fr":"","en":"Dividends paid to shareholders","es":""},"category":"FINANCING"},{"id":"i2","text":{"fr":"","en":"Interest received on a bank deposit","es":""},"category":"INVESTING"},{"id":"i3","text":{"fr":"","en":"Interest paid capitalised in the cost of a plant under construction","es":""},"category":"FINANCING"},{"id":"i4","text":{"fr":"","en":"Dividends received from a minority shareholding","es":""},"category":"INVESTING"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000194","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"CALCULATION","format":"CALCULATION","context":"AGRIFOOD","tested_point":"IAS7_V2027_OPERATING_PROFIT_START","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IAS7.000021","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000021","section_id":"how"},"references":["IAS 7 §18","IAS 7 §20","IAS 7 §64"],"exercise":{"prompt":{"fr":"","en":"Coralbe, a fictitious cannery, applies IFRS 18 for its period beginning 1 January 2027. Calculate net cash flow from operating activities using the indirect method (case data).","es":""},"explanation":{"fr":"","en":"Starting point: operating profit (IAS 7, paras. 18(b) and 20, version applicable with IFRS 18). 800,000 + 150,000 − 70,000 + 20,000 = 900,000; the tax, outside the operating category but an operating cash flow, is deducted: 900,000 − 160,000 = 740,000.","es":""},"common_error":{"fr":"","en":"Forgetting to deduct tax paid, on the ground that operating profit is already before tax.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Operating profit","es":""},"value":"800 000","unit":"EUR"},{"label":{"fr":"","en":"Depreciation (operating category)","es":""},"value":"150 000","unit":"EUR"},{"label":{"fr":"","en":"Increase in inventories","es":""},"value":"70 000","unit":"EUR"},{"label":{"fr":"","en":"Increase in trade payables","es":""},"value":"20 000","unit":"EUR"},{"label":{"fr":"","en":"Income tax paid","es":""},"value":"160 000","unit":"EUR"}],"steps":[{"id":"s1","label":{"fr":"","en":"Operating profit adjusted for depreciation and working capital","es":""},"answer":900000,"tolerance":0,"unit":"EUR"},{"id":"s2","label":{"fr":"","en":"Net cash flow from operating activities after tax paid","es":""},"answer":740000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000195","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"BANKING","tested_point":"IAS7_V2027_MAIN_BUSINESS_ACTIVITY","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000022","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000022","section_id":"main-activity"},"references":["IAS 7 §34B","IAS 7 §34C","IAS 7 §34D"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version: annual periods beginning on or after 1 January 2027. Banque Sorelle, a fictitious institution whose main business activity is providing financing to customers, applies IFRS 18 in 2027. It classifies its interest expenses partly in the operating category and partly in financing (case data). How does it classify its interest paid?","es":""},"explanation":{"fr":"","en":"For an entity within para. 34B, the total of each cash flow goes into a single activity; when the expense falls within several categories, the entity chooses an accounting policy between the associated activities (IAS 7, paras. 34B and 34D).","es":""},"common_error":{"fr":"","en":"Splitting interest paid between two activities as in profit or loss.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As financing, like any entity","es":""},"correct":false,"feedback":{"fr":"","en":"That rule (para. 34A) does not cover the entities in para. 34B.","es":""}},{"id":"B","text":{"fr":"","en":"Using the same split as in profit or loss","es":""},"correct":false,"feedback":{"fr":"","en":"The total of each cash flow goes into a single activity.","es":""}},{"id":"C","text":{"fr":"","en":"Entirely as operating or financing, under its accounting policy","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000196","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"HOSPITALITY","tested_point":"IAS7_V2027_EARLY_APPLICATION_CASE","difficulty":"ADVANCED","estimated_time_s":420,"lesson_id":"LS.IAS7.000020","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000020","section_id":"judgment"},"references":["IAS 7 §64","IAS 7 §33A","IAS 7 §34A","IFRS 18 §C1"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version: annual periods beginning on or after 1 January 2027. Prepare the interest and dividend cash flows of the fictitious hotel group Mirevau for its period beginning 1 January 2026.","es":""},"explanation":{"fr":"","en":"The choice to apply IFRS 18 early is case data; it brings in the amended version of IAS 7 (para. 64): interest paid and dividends paid in financing, interest and dividends received in investing (paras. 33A and 34A).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Case data: Mirevau, with no main business activity of investing or providing financing to customers, decides to apply IFRS 18 early from its period beginning 1 January 2026 and discloses this in its notes. Cash flows of the period: interest paid 95,000, of which 25,000 capitalised in the cost of a hotel under construction; dividends paid 300,000; interest received 8,000; dividends received 22,000.","es":""},"parts":[{"prompt":{"fr":"","en":"Which version of IAS 7 does Mirevau apply to the period beginning 1 January 2026?","es":""},"explanation":{"fr":"","en":"The IAS 7 amendments follow the application of IFRS 18 (IAS 7, para. 64), here applied early and disclosed in the notes (IFRS 18, para. C1).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The current wording, as the amended version is only mandatory in 2027","es":""},"correct":false,"feedback":{"fr":"","en":"By applying IFRS 18 early, Mirevau also applies the IAS 7 amendments.","es":""}},{"id":"B","text":{"fr":"","en":"The version amended by IFRS 18","es":""},"correct":true}],"id":"P1","dimension":"RULE_KNOWLEDGE"},{"prompt":{"fr":"","en":"Amounts to present under the applicable version.","es":""},"explanation":{"fr":"","en":"Financing: 95,000 of interest paid, including the capitalised portion (IAS 7, paras. 34A and 32), + 300,000 of dividends paid (para. 33A) = 395,000. Investing: 8,000 + 22,000 = 30,000 (para. 34A).","es":""},"common_error":{"fr":"","en":"Excluding capitalised interest or applying the old wording's options instead of the amended version's classifications.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Interest paid (of which 25,000 capitalised)","es":""},"value":"95 000","unit":"EUR"},{"label":{"fr":"","en":"Dividends paid","es":""},"value":"300 000","unit":"EUR"},{"label":{"fr":"","en":"Interest received","es":""},"value":"8 000","unit":"EUR"},{"label":{"fr":"","en":"Dividends received","es":""},"value":"22 000","unit":"EUR"}],"steps":[{"id":"s1","label":{"fr":"","en":"Financing outflows relating to interest and dividends","es":""},"answer":395000,"tolerance":0,"unit":"EUR"},{"id":"s2","label":{"fr":"","en":"Investing inflows relating to interest and dividends received","es":""},"answer":30000,"tolerance":0,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION","formula":{"lines":[{"step":"s2","meaning":{"fr":"","en":"Investing inflows relating to interest and dividends received","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"interest received 8,000","es":""},"value":8000},{"symbol":"b","meaning":{"fr":"","en":"dividends received 22,000","es":""},"value":22000}],"result":30000,"unit":"EUR"}],"rationale":{"fr":"","en":"Financing: 95,000 of interest paid, including the capitalised portion (IAS 7, paras. 34A and 32), + 300,000 of dividends paid (para. 33A) = 395,000.","es":""},"references":["REF.IAS7.34A"]}},{"prompt":{"fr":"","en":"Mirevau may apply IFRS 18 early without mentioning it, since the amended version will become mandatory anyway.","es":""},"explanation":{"fr":"","en":"False: early application, a choice of the entity, must be disclosed in the notes (IFRS 18, para. C1).","es":""},"common_error":{"fr":"","en":"Thinking early application is neutral: it is the entity's choice and must be disclosed in the notes.","es":""},"format":"TRUE_FALSE","answer":false,"id":"P3","dimension":"PROFESSIONAL_JUDGMENT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000197","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"MANUFACTURING","tested_point":"IAS7_V2027_INDIRECT_START","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS7.000021","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000021","section_id":"rule"},"references":["IAS 7 §18","IFRS 18 §69"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Complete the rule.","es":""},"explanation":{"fr":"","en":"Starting point: operating profit; adjustments: operating category (IAS 7, para. 18, IFRS 18 version).","es":""},"common_error":{"fr":"","en":"Keeping profit for the year, the starting point of the current version.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"The indirect method starts from {{start}} and its adjustments are defined by reference to the {{category}} category of the statement of profit or loss.","es":""},"blanks":[{"id":"start","mode":"CHOICE","choices":[{"id":"C1","text":{"fr":"","en":"operating profit","es":""}},{"id":"C2","text":{"fr":"","en":"profit for the year","es":""}},{"id":"C3","text":{"fr":"","en":"profit before tax","es":""}}],"answer":"C1"},{"id":"category","mode":"CHOICE","choices":[{"id":"K1","text":{"fr":"","en":"operating","es":""}},{"id":"K2","text":{"fr":"","en":"financing","es":""}},{"id":"K3","text":{"fr":"","en":"investing","es":""}}],"answer":"K1"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000198","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD","IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"APPLICATION","format":"ORDERING","context":"RETAIL","tested_point":"IAS7_V2027_RECONCILIATION_STEPS","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000021","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000021","section_id":"how"},"references":["IAS 7 §18","IAS 7 §20","IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Put the steps of the indirect-method reconciliation in order.","es":""},"explanation":{"fr":"","en":"Operating profit is the starting point (IAS 7, para. 18, IFRS 18 version); tax paid, an operating cash flow with no operating income or expense, comes last (IAS 7, para. 20, IFRS 18 version).","es":""},"common_error":{"fr":"","en":"Deducting tax before reaching the cash generated by operations.","es":""},"format":"ORDERING","steps":[{"id":"S1","text":{"fr":"","en":"Start from operating profit","es":""}},{"id":"S2","text":{"fr":"","en":"Add the non-cash expenses of the operating category","es":""}},{"id":"S3","text":{"fr":"","en":"Remove the gains whose cash is in investing","es":""}},{"id":"S4","text":{"fr":"","en":"Include the changes in inventories and operating receivables and payables","es":""}},{"id":"S5","text":{"fr":"","en":"Reach the cash generated by operations","es":""}},{"id":"S6","text":{"fr":"","en":"Deduct the income tax paid","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000199","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD","IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"ENERGY","tested_point":"IAS7_V2027_DRAFT_REVIEW","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IAS7.000021","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000021","section_id":"pitfalls"},"references":["IAS 7 §18","IAS 7 §20","IFRS 18 §59","IFRS 18 §67"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Review this draft reconciliation and spot the errors.","es":""},"explanation":{"fr":"","en":"Only depreciation and tax paid are adjusted; the other lines are either misplaced or outside operating profit.","es":""},"common_error":{"fr":"","en":"Neutralising items that are not in the starting point.","es":""},"format":"ERROR_SPOT","statements":[{"id":"E1","text":{"fr":"","en":"Starting point: profit for the year of 410,000.","es":""},"erroneous":true,"correction":{"fr":"","en":"The starting point is operating profit (IAS 7, para. 18, IFRS 18 version).","es":""}},{"id":"E2","text":{"fr":"","en":"Addition of the tax expense of 130,000 to operating profit.","es":""},"erroneous":true,"correction":{"fr":"","en":"The tax expense is outside operating profit (IFRS 18, para. 67): there is nothing to neutralise.","es":""}},{"id":"E3","text":{"fr":"","en":"Addition of depreciation from the operating category.","es":""},"erroneous":false},{"id":"E4","text":{"fr":"","en":"Adjustment for the interest expense on the bank loan.","es":""},"erroneous":true,"correction":{"fr":"","en":"They are in the financing category, outside operating profit (IFRS 18, para. 59): no adjustment.","es":""}},{"id":"E5","text":{"fr":"","en":"Deduction of the income tax paid.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000200","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD","IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"RECOGNITION","format":"MULTIPLE_CHOICE","context":"AUTOMOTIVE","tested_point":"IAS7_V2027_ADJUSTMENTS","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IAS7.000021","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000021","section_id":"categories"},"references":["IAS 7 §18","IAS 7 §20","IAS 7 §35","IFRS 18 §59","IFRS 18 §67"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Starting from operating profit, which items enter the reconciliation?","es":""},"explanation":{"fr":"","en":"Adjustments: items of the operating category and operating cash flows with no operating income or expense, such as tax paid (IAS 7, para. 20, IFRS 18 version).","es":""},"common_error":{"fr":"","en":"Carrying over the mechanics of the current version (adding back interest and tax).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Depreciation of the operating category","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Income tax paid","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Adding back the interest expense on a bank loan","es":""},"correct":false,"feedback":{"fr":"","en":"That expense (financing category) is not in operating profit: nothing to add back.","es":""}},{"id":"D","text":{"fr":"","en":"Adding back the tax expense","es":""},"correct":false,"feedback":{"fr":"","en":"The tax expense is in the \"income taxes\" category, outside operating profit: only the tax paid is deducted.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000201","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD","IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"PHARMA","tested_point":"IAS7_V2027_TAX_ADDED","difficulty":"ADVANCED","estimated_time_s":90,"lesson_id":"LS.IAS7.000021","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000021","section_id":"why"},"references":["IAS 7 §20","IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. The tax expense is not in operating profit, yet the tax paid is deducted in the reconciliation. Why?","es":""},"explanation":{"fr":"","en":"Category ≠ activity: the tax flow stays operating although its expense is outside operating profit (IAS 7, para. 20, IFRS 18 version, IAS 7, para. 35, IFRS 18 version).","es":""},"common_error":{"fr":"","en":"Confusing a category of profit or loss with an activity of the statement of cash flows.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Because tax paid remains an operating cash flow with no operating income or expense","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Because tax paid becomes a financing cash flow","es":""},"correct":false,"feedback":{"fr":"","en":"The classification does not change: operating, unless specifically identified (IAS 7, para. 35, IFRS 18 version).","es":""}},{"id":"C","text":{"fr":"","en":"Because the tax expense is an expense of the operating category","es":""},"correct":false,"feedback":{"fr":"","en":"It belongs to the \"income taxes\" category (IFRS 18, para. 67); that is precisely why the flow has to be added.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000202","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"CALCULATION","format":"CALCULATION","context":"LOGISTICS","tested_point":"IAS7_V2027_TAX_PAID_CALC","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000021","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000021","section_id":"numeric-example"},"references":["IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Tax expense 100,000, of which 92,000 current tax and 8,000 deferred tax; current tax payable 14,000 at the start and 20,000 at the end. What is the tax paid, presented in operating activities (no specific attribution)?","es":""},"explanation":{"fr":"","en":"92,000 + 14,000 − 20,000 = 86,000, in operating (IAS 7, para. 35, IFRS 18 version); deferred tax is not a cash flow.","es":""},"common_error":{"fr":"","en":"Taking the total tax expense (100,000).","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Current tax","es":""},"value":"92000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Tax paid","es":""},"answer":86000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Tax paid","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Current tax","es":""},"value":92000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"current tax payable 14,000","es":""},"value":14000},{"symbol":"c","meaning":{"fr":"","en":"at the start and 20,000","es":""},"value":20000}],"result":86000,"unit":"EUR"}],"rationale":{"fr":"","en":"92,000 + 14,000 − 20,000 = 86,000, in operating (IAS 7, para. 35, IFRS 18 version)","es":""},"references":["REF.IAS7.35"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000203","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"PROFESSIONAL_JUDGMENT","format":"SINGLE_CHOICE","context":"REAL_ESTATE","tested_point":"IAS7_V2027_TAX_SPECIFIC","difficulty":"ADVANCED","estimated_time_s":120,"lesson_id":"LS.IAS7.000021","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000021","section_id":"judgment"},"references":["IAS 7 §35","IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. An entity pays 30,000 of tax directly attributable to the gain on the sale of an investment property whose proceeds are classified in investing (attribution documented). Where does it classify the 30,000?","es":""},"explanation":{"fr":"","en":"Tax is classified in operating, unless specifically identified with investing or financing (IAS 7, para. 35, IFRS 18 version); the judgement lies in evidencing the attribution.","es":""},"common_error":{"fr":"","en":"Believing the IFRS 18 version always imposes operating for tax.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"In investing, because the tax is specifically identified with that activity","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"In operating: the IFRS 18 version removes any exception","es":""},"correct":false,"feedback":{"fr":"","en":"The rule does not change: operating unless specifically identified with investing or financing (IAS 7, para. 35, IFRS 18 version).","es":""}},{"id":"C","text":{"fr":"","en":"In financing, by analogy with dividends paid","es":""},"correct":false,"feedback":{"fr":"","en":"Dividends paid have their own rule (IAS 7, para. 33A, IFRS 18 version); tax attributable to a disposal follows the activity of that disposal.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000204","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"RECOGNITION","format":"MATCHING","context":"RETAIL","tested_point":"IAS7_V2027_PARAGRAPH_MAP","difficulty":"BEGINNER","estimated_time_s":90,"lesson_id":"LS.IAS7.000022","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000022","section_id":"what-remains"},"references":["IAS 7 §31","IAS 7 §32"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Match each paragraph with its content.","es":""},"explanation":{"fr":"","en":"Para. 31: separate presentation and consistency; para. 32: total interest paid; para. 33A: dividends paid; para. 34A: interest paid, interest and dividends received. The options (former para. 33) no longer exist.","es":""},"common_error":{"fr":"","en":"Linking the options to paragraph 31 or 34A.","es":""},"format":"MATCHING","left":[{"id":"L1","text":{"fr":"","en":"Para. 31","es":""}},{"id":"L2","text":{"fr":"","en":"Para. 32","es":""}},{"id":"L3","text":{"fr":"","en":"Para. 33A","es":""}},{"id":"L4","text":{"fr":"","en":"Para. 34A","es":""}}],"right":[{"id":"R1","text":{"fr":"","en":"Separate presentation and consistent classification of interest and dividend flows","es":""}},{"id":"R2","text":{"fr":"","en":"Total interest paid, expensed or capitalised in the cost of an asset","es":""}},{"id":"R3","text":{"fr":"","en":"Dividends paid in financing","es":""}},{"id":"R4","text":{"fr":"","en":"Interest paid in financing; interest and dividends received in investing","es":""}},{"id":"R5","text":{"fr":"","en":"Options for classifying interest and dividends","es":""}}],"pairs":[{"left":"L1","right":"R1"},{"left":"L2","right":"R2"},{"left":"L3","right":"R3"},{"left":"L4","right":"R4"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000205","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"TELECOM","tested_point":"IAS7_V2027_CONSISTENCY","difficulty":"INTERMEDIATE","estimated_time_s":45,"lesson_id":"LS.IAS7.000022","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000022","section_id":"what-remains"},"references":["IAS 7 §31"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. An entity applying the classification of paragraph 34A may classify its interest received in investing one year and elsewhere the next, provided it discloses it.","es":""},"explanation":{"fr":"","en":"False: separate presentation and consistent classification are kept (IAS 7, para. 31, IFRS 18 version), and the classification is fixed by paragraph 34A.","es":""},"common_error":{"fr":"","en":"Thinking that disclosure is enough to justify a change of classification.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000206","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"PROFESSIONAL_JUDGMENT","format":"SINGLE_CHOICE","context":"HOSPITALITY","tested_point":"IAS7_V2027_OPTIONS_GONE","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000022","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000022","section_id":"understand"},"references":["IAS 7 §33","IAS 7 §34","IAS 7 §31"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. The finance director of a hotel chain (with no main business activity of investing or financing customers) wants to keep interest paid in operating, \"as for ten years\". What is the right answer?","es":""},"explanation":{"fr":"","en":"Paragraphs 33 and 34 are deleted; interest paid in financing (IAS 7, para. 34A, IFRS 18 version).","es":""},"common_error":{"fr":"","en":"Relying on the entity's history rather than on the applicable text.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Possible: consistency of classification allows it","es":""},"correct":false,"feedback":{"fr":"","en":"Consistency applies to the classification fixed by the standard (IAS 7, para. 31, IFRS 18 version); it does not preserve a deleted option.","es":""}},{"id":"B","text":{"fr":"","en":"No: interest paid goes to financing (para. 34A); the option has gone","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Possible if the entity justifies it in the notes","es":""},"correct":false,"feedback":{"fr":"","en":"No justification restores an option that paragraph 34A no longer provides for this entity.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000207","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS","IAS7.CLASSIFICATION.OPERATING_ACTIVITIES","IAS7.CLASSIFICATION.INVESTING_ACTIVITIES","IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"ANALYSIS","format":"CLASSIFICATION","context":"AGRIFOOD","tested_point":"IAS7_V2027_WHAT_MOVES","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000022","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000022","section_id":"numeric-example"},"references":["IAS 7 §31","IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. An entity outside para. 34B had chosen, in the current version: interest paid, interest received and dividends received in operating; dividends paid in financing. Which flows change activity with the IFRS 18 version?","es":""},"explanation":{"fr":"","en":"Interest paid: operating → financing; interest and dividends received: operating → investing; dividends paid and tax paid do not move (IAS 7, para. 33A, IFRS 18 version, IAS 7, para. 34A, IFRS 18 version, IAS 7, para. 35, IFRS 18 version).","es":""},"common_error":{"fr":"","en":"Thinking every interest and dividend flow changes, dividends paid included.","es":""},"format":"CLASSIFICATION","categories":[{"id":"MOVE","text":{"fr":"","en":"Changes activity","es":""}},{"id":"STAY","text":{"fr":"","en":"Stays in the same activity","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Interest paid","es":""},"category":"MOVE"},{"id":"I2","text":{"fr":"","en":"Interest received","es":""},"category":"MOVE"},{"id":"I3","text":{"fr":"","en":"Dividends received","es":""},"category":"MOVE"},{"id":"I4","text":{"fr":"","en":"Dividends paid","es":""},"category":"STAY"},{"id":"I5","text":{"fr":"","en":"Income tax paid (no specific attribution)","es":""},"category":"STAY"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000209","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS","IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"BANKING","tested_point":"IAS7_V2027_DIVIDEND_ENTRY","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000022","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000022","section_id":"general-rule"},"references":["IAS 7 §34","IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. A dividend of 180,000, already recognised as a liability, is paid. Record the entry; the cash flow will be presented in financing.","es":""},"explanation":{"fr":"","en":"The payment settles the liability; the outflow of 180,000 appears as \"Dividends paid\", financing (IAS 7, para. 33A, IFRS 18 version).","es":""},"common_error":{"fr":"","en":"Debiting reserves at payment although the liability is already recognised.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"DIVP","text":{"fr":"","en":"Dividends payable","es":""}},{"id":"BANK","text":{"fr":"","en":"Bank","es":""}},{"id":"RES","text":{"fr":"","en":"Reserves","es":""}}],"lines":[{"id":"L1","account":"DIVP","side":"DEBIT","amount":180000},{"id":"L2","account":"BANK","side":"CREDIT","amount":180000}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000210","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"CALCULATION","format":"CALCULATION","context":"TRANSPORT","tested_point":"IAS7_V2027_SUBTOTAL_EFFECT","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IAS7.000022","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000022","section_id":"numeric-example"},"references":["IAS 7 §31","IAS 7 §32"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. An entity outside para. 34B had classified, in the current version, all its interest and dividends received and its interest paid in operating. Interest paid 52,000; interest received 14,000; dividends received 6,000. With the IFRS 18 version, by how much do operating, investing and financing cash flows change (sign: + increase, − decrease)?","es":""},"explanation":{"fr":"","en":"Operating: removing −52,000 + 14,000 + 6,000 = −32,000 gives +32,000. Investing: +14,000 + 6,000 = +20,000 (IAS 7, para. 34A, IFRS 18 version). Financing: −52,000 (IAS 7, para. 34A, IFRS 18 version). Sum: 32,000 + 20,000 − 52,000 = 0.","es":""},"common_error":{"fr":"","en":"Forgetting that the changes sum to zero: a reclassification neither creates nor destroys cash.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Interest paid","es":""},"value":"52000","unit":"EUR"},{"label":{"fr":"","en":"Interest received","es":""},"value":"14000","unit":"EUR"},{"label":{"fr":"","en":"Dividends received","es":""},"value":"6000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Change in operating cash flow","es":""},"answer":32000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Change in investing cash flow","es":""},"answer":20000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Change in financing cash flow","es":""},"answer":-52000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000211","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE","IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"AUTOMOTIVE","tested_point":"IAS7_V2027_PARA12","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS7.000022","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000022","section_id":"split-transaction"},"references":["IAS 7 §12"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Paragraph 12 no longer contains the loan repayment example, which removes the principle that a transaction may include cash flows classified differently.","es":""},"explanation":{"fr":"","en":"False: the first sentence of paragraph 12 is kept; only the example is removed (IAS 7, para. 12, IFRS 18 version).","es":""},"common_error":{"fr":"","en":"Confusing the removal of an example with the deletion of a principle.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000212","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE","IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"CALCULATION","format":"CALCULATION","context":"CONSTRUCTION","tested_point":"IAS7_V2027_LOAN_INSTALMENT","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000022","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000022","section_id":"split-transaction"},"references":["IAS 7 §12","IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Entity outside paras. 34B to 34D. A loan instalment of 240,000 includes 36,000 of interest. What amount is presented in financing, and by how much do operating cash flows increase compared with a presentation where interest paid would be operating?","es":""},"explanation":{"fr":"","en":"Capital 204,000 (IAS 7, para. 17, IFRS 18 version) + interest 36,000 (IAS 7, para. 34A, IFRS 18 version) = 240,000 in financing; the 36,000 leave operating.","es":""},"common_error":{"fr":"","en":"Presenting only the capital (204,000) in financing.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Instalment","es":""},"value":"240000","unit":"EUR"},{"label":{"fr":"","en":"Of which interest","es":""},"value":"36000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Amount in financing","es":""},"answer":240000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Increase in operating cash flows","es":""},"answer":36000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000213","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.CASH_COMPONENTS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GROUP","tested_point":"IAS7_V2027_CASH_POLICY","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS7.000020","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000020","section_id":"cross-references"},"references":["IAS 7 §46","IAS 7 §47"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. The requirement to disclose the policy adopted to determine the composition of cash and cash equivalents disappears, since paragraph 46 now refers to IAS 8 Basis of Preparation of Financial Statements.","es":""},"explanation":{"fr":"","en":"False: the requirement to disclose the policy is unchanged; only the cross-reference to IAS 8 is amended (IAS 7, para. 46, IFRS 18 version).","es":""},"common_error":{"fr":"","en":"Seeing the removal of a requirement where only a cross-reference is amended.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000214","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.CASH_COMPONENTS"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"PHARMA","tested_point":"IAS7_V2027_CASH_POLICY_CHANGE","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IAS7.000020","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000020","section_id":"cross-references"},"references":["IAS 7 §47"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. An entity decides to stop treating a money-market investment as a cash equivalent (change in the policy for composition). How is the effect reported?","es":""},"explanation":{"fr":"","en":"A change in the policy for the composition of cash is reported under IAS 8 (IAS 7, para. 47, IFRS 18 version): rule unchanged.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"In accordance with IAS 8","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Only in an \"other flows\" line of the period, with no restatement","es":""},"correct":false,"feedback":{"fr":"","en":"Paragraph 47 refers to IAS 8: the effect is reported under that standard, not in a free adjustment line.","es":""}},{"id":"C","text":{"fr":"","en":"Nothing needs to be reported, the composition of cash being free","es":""},"correct":false,"feedback":{"fr":"","en":"The policy must be disclosed (IAS 7, para. 46, IFRS 18 version) and its change is dealt with under IAS 8 (IAS 7, para. 47, IFRS 18 version).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000215","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS","IAS7.DISCLOSURE.CASH_COMPONENTS","IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"GROUP","tested_point":"IAS7_V2027_UNCHANGED_RULES","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000020","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000020","section_id":"cross-references"},"references":["IAS 7 §10","IAS 7 §32","IAS 7 §47"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Paragraphs 10, 32 and 47 are amended in this version. Spot the erroneous statements.","es":""},"explanation":{"fr":"","en":"Paras. 10, 32 and 47: cross-references or wording, rules unchanged.","es":""},"common_error":{"fr":"","en":"Reading a change of wording as a change of rule.","es":""},"format":"ERROR_SPOT","statements":[{"id":"E1","text":{"fr":"","en":"These amendments add a new option for classifying interest.","es":""},"erroneous":true,"correction":{"fr":"","en":"They are cross-references or wording; the rules taught are unchanged, and the options disappear elsewhere (paras. 33 and 34 deleted).","es":""}},{"id":"E2","text":{"fr":"","en":"The total interest paid is still to be disclosed, whether expensed or capitalised in the cost of an asset.","es":""},"erroneous":false},{"id":"E3","text":{"fr":"","en":"A change in the policy for the composition of cash is still dealt with under IAS 8.","es":""},"erroneous":false},{"id":"E4","text":{"fr":"","en":"Paragraph 32 now covers only interest recognised as an expense.","es":""},"erroneous":true,"correction":{"fr":"","en":"The total also includes interest capitalised in the cost of an asset; only the wording on recognition as an expense changes (IAS 7, para. 32, IFRS 18 version).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000216","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES","IAS7.CLASSIFICATION.INVESTING_ACTIVITIES","IAS7.CLASSIFICATION.FINANCING_ACTIVITIES","IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"RECOGNITION","format":"MATCHING","context":"TELECOM","tested_point":"IAS7_V2027_LIST_XREFS","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000020","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000020","section_id":"cross-references"},"references":["IAS 7 §6","IAS 7 §14","IAS 7 §16","IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Match each item of the lists of examples with what it covers.","es":""},"explanation":{"fr":"","en":"14(h): interest and dividends of the entities of paras. 34B to 34D; 16(i): interest and dividends received; 17(f): dividends paid; 17(g): interest paid. These items are cross-references to the new paragraphs.","es":""},"common_error":{"fr":"","en":"Placing interest paid in the investing list.","es":""},"format":"MATCHING","left":[{"id":"L1","text":{"fr":"","en":"Para. 14(h) (operating activities)","es":""}},{"id":"L2","text":{"fr":"","en":"Para. 16(i) (investing activities)","es":""}},{"id":"L3","text":{"fr":"","en":"Para. 17(f) (financing activities)","es":""}},{"id":"L4","text":{"fr":"","en":"Para. 17(g) (financing activities)","es":""}}],"right":[{"id":"R1","text":{"fr":"","en":"Interest and dividends of the entity of paras. 34B to 34D","es":""}},{"id":"R2","text":{"fr":"","en":"Interest and dividends received (paras. 34A to 34D)","es":""}},{"id":"R3","text":{"fr":"","en":"Dividends paid (para. 33A)","es":""}},{"id":"R4","text":{"fr":"","en":"Interest paid (paras. 34A to 34D)","es":""}},{"id":"R5","text":{"fr":"","en":"Change in inventories","es":""}}],"pairs":[{"left":"L1","right":"R1"},{"left":"L2","right":"R2"},{"left":"L3","right":"R3"},{"left":"L4","right":"R4"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000217","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"MANUFACTURING","tested_point":"IAS7_V2027_PARA11_UNCHANGED","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS7.000024","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000024","section_id":"rule-10"},"references":["IAS 7 §11","IAS 7 §64"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. In the version of IAS 7 amended by IFRS 18, paragraph 11 is unchanged: the statement presents cash flows in the manner most appropriate to the entity's business.","es":""},"explanation":{"fr":"","en":"True: paragraph 11 is not among the amended paragraphs (IAS 7, para. 64); only paragraph 10 receives the cross-reference to IFRS 18.","es":""},"common_error":{"fr":"","en":"Believing that the whole presentation by activity is overhauled by IFRS 18.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000218","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"RECOGNITION","format":"SINGLE_CHOICE","context":"RETAIL","tested_point":"IAS7_V2027_PARA12_EXAMPLE_REMOVED","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS7.000024","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000024","section_id":"par-12"},"references":["IAS 7 §12"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. What happens to the example of repaying a loan (interest portion, principal portion) in paragraph 12?","es":""},"explanation":{"fr":"","en":"Paragraph 12 keeps its principle and loses the loan example.","es":""},"common_error":{"fr":"","en":"Confusing the removal of an example with the repeal of a rule.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"It is removed; the principle of a transaction with differently classified flows is kept","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"It is kept, with the same classifications as before","es":""},"correct":false,"feedback":{"fr":"","en":"The example no longer appears in the amended version; its former classifications (operating interest) are no longer an open choice for an ordinary entity.","es":""}},{"id":"c","text":{"fr":"","en":"It is removed along with the principle: each transaction now has a single classification","es":""},"correct":false,"feedback":{"fr":"","en":"The principle is kept: only the example disappears (IAS 7, para. 12, IFRS 18 version).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000219","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"APPLICATION","format":"CLASSIFICATION","context":"MANUFACTURING","tested_point":"IAS7_V2027_ORDINARY_ENTITY_FLOWS","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000024","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000024","section_id":"par-12"},"references":["IAS 7 §14","IAS 7 §16","IAS 7 §17","IAS 7 §34A","IFRS 16 §50"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Garravel is not covered by paragraphs 34B to 34D (case datum). Classify each of these cash payments.","es":""},"explanation":{"fr":"","en":"Principal (para. 17) and interest (para. 34A) are in financing, as is the interest portion of a lease payment (IFRS 16, para. 50); the machine is an investing flow (para. 16); salaries are operating (para. 14).","es":""},"common_error":{"fr":"","en":"Keeping the interest in operating, as under the former choice.","es":""},"format":"CLASSIFICATION","categories":[{"id":"OPE","text":{"fr":"","en":"Operating activities","es":""}},{"id":"INV","text":{"fr":"","en":"Investing activities","es":""}},{"id":"FIN","text":{"fr":"","en":"Financing activities","es":""}}],"items":[{"id":"i1","text":{"fr":"","en":"Principal repaid on a bank loan","es":""},"category":"FIN"},{"id":"i2","text":{"fr":"","en":"Interest on that loan","es":""},"category":"FIN"},{"id":"i3","text":{"fr":"","en":"Principal portion of a lease payment","es":""},"category":"FIN"},{"id":"i4","text":{"fr":"","en":"Interest portion of that lease payment","es":""},"category":"FIN"},{"id":"i5","text":{"fr":"","en":"Machine bought for cash","es":""},"category":"INV"},{"id":"i6","text":{"fr":"","en":"Salaries paid to staff","es":""},"category":"OPE"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000220","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"CALCULATION","format":"CALCULATION","context":"AGRIFOOD","tested_point":"IAS7_V2027_FINANCING_OUTFLOW_SPLIT","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IAS7.000024","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000024","section_id":"numeric-example"},"references":["IAS 7 §17","IAS 7 §31","IAS 7 §34A","IFRS 16 §50"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Sylvane (outside paragraphs 34B to 34D) paid: loan principal 200,000, loan interest 24,000, lease principal 36,000, lease interest 6,000. Calculate the interest paid shown separately and the total financing outflow.","es":""},"explanation":{"fr":"","en":"Interest paid: 24,000 + 6,000 = 30,000. Financing outflow: 200,000 + 36,000 + 30,000 = 266,000 (IAS 7, paras. 17, 31 and 34A).","es":""},"common_error":{"fr":"","en":"Forgetting the interest portion of the lease payment in interest paid.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Loan principal","es":""},"value":"200000","unit":"EUR"},{"label":{"fr":"","en":"Loan interest","es":""},"value":"24000","unit":"EUR"},{"label":{"fr":"","en":"Lease principal","es":""},"value":"36000","unit":"EUR"},{"label":{"fr":"","en":"Lease interest","es":""},"value":"6000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Interest paid (separate line)","es":""},"answer":30000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Total financing outflow","es":""},"answer":266000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Interest paid (separate line)","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Loan interest","es":""},"value":24000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Lease interest","es":""},"value":6000,"unit":"EUR"}],"result":30000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Total financing outflow","es":""},"expression":"a + b + c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Loan principal","es":""},"value":200000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Lease principal","es":""},"value":36000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Interest paid (separate line)","es":""},"value":30000,"unit":"EUR"}],"result":266000,"unit":"EUR"}],"references":["REF.IAS7.17","REF.IAS7.31","REF.IAS7.34A","REF.IFRS16.50"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000221","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"RECOGNITION","format":"MULTIPLE_CHOICE","context":"SERVICES","tested_point":"IAS7_V2027_PARA10_DIRECT_EFFECTS","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000024","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000024","section_id":"rule-10"},"references":["IAS 7 §10","IAS 7 §11","IFRS 18 §C2"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Which of these statements about amended paragraph 10 and its direct effects on the statement are correct?","es":""},"explanation":{"fr":"","en":"The cross-reference in paragraph 10 makes applicable, among others, consistency (IFRS 18, para. 30) and the reclassification of comparatives (IFRS 18, para. 33); it creates no new activity and no imposed presentation.","es":""},"common_error":{"fr":"","en":"Seeing the cross-reference as an overhaul of the statement.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"Classifications are applied consistently from one period to the next","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"Comparatives are reclassified when the classification changes","es":""},"correct":true},{"id":"c","text":{"fr":"","en":"The cross-reference creates an additional category of cash flows in the statement","es":""},"correct":false,"feedback":{"fr":"","en":"Cash flows stay classified in three activities (paragraph 10); the cross-reference adds no fourth activity.","es":""}},{"id":"d","text":{"fr":"","en":"Paragraph 11 is replaced by a presentation imposed by IFRS 18","es":""},"correct":false,"feedback":{"fr":"","en":"Paragraph 11 is unchanged: the statement presents cash flows in the manner most appropriate to the business.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000222","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"RETAIL","tested_point":"IAS7_V2027_PARA12_RULE","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS7.000024","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000024","section_id":"par-12"},"references":["IAS 7 §12"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Complete the rule of paragraph 12 in the version amended by IFRS 18.","es":""},"explanation":{"fr":"","en":"Paragraph 12: a transaction may include flows classified differently; the loan example is removed.","es":""},"common_error":{"fr":"","en":"Believing the principle went away with the example.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"A single transaction {{b1}} include cash flows classified {{b2}}; the example of the repayment of a {{b3}} is no longer given.","es":""},"blanks":[{"id":"b1","mode":"CHOICE","choices":[{"id":"may","text":{"fr":"","en":"may","es":""}},{"id":"may_not","text":{"fr":"","en":"may not","es":""}}],"answer":"may"},{"id":"b2","mode":"CHOICE","choices":[{"id":"diff","text":{"fr":"","en":"differently","es":""}},{"id":"same","text":{"fr":"","en":"in the same way","es":""}}],"answer":"diff"},{"id":"b3","mode":"CHOICE","choices":[{"id":"loan","text":{"fr":"","en":"loan","es":""}},{"id":"asset","text":{"fr":"","en":"asset","es":""}}],"answer":"loan"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000223","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"APPLICATION","format":"ORDERING","context":"HEALTHCARE","tested_point":"IAS7_V2027_CLASSIFICATION_METHOD","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000024","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000024","section_id":"how"},"references":["IAS 7 §10","IAS 7 §43"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Put the steps for classifying the cash flows of a mixed transaction in order.","es":""},"explanation":{"fr":"","en":"First date it, break it down, set aside the non-cash part, then classify and check the total.","es":""},"common_error":{"fr":"","en":"Classifying before setting aside the non-cash part.","es":""},"format":"ORDERING","steps":[{"id":"s1","text":{"fr":"","en":"Date the period and the applicable version","es":""}},{"id":"s2","text":{"fr":"","en":"Break the transaction down into cash movements","es":""}},{"id":"s3","text":{"fr":"","en":"Set aside what uses no cash","es":""}},{"id":"s4","text":{"fr":"","en":"Classify each movement by its nature and the entity's status","es":""}},{"id":"s5","text":{"fr":"","en":"Check that the total of the movements equals the change in cash","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000224","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"ENERGY","tested_point":"IAS7_V2027_PARA12_DRAFT_REVIEW","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000024","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000024","section_id":"par-12"},"references":["IAS 7 §10","IAS 7 §12","IAS 7 §34A","IAS 7 §43"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Review these statements from an internal note on paragraphs 12 and 10; spot the errors.","es":""},"explanation":{"fr":"","en":"Only two statements are wrong: the deletion of paragraph 12 and the invented additional statement.","es":""},"common_error":{"fr":"","en":"Deriving from the cross-reference an obligation the text does not contain.","es":""},"format":"ERROR_SPOT","statements":[{"id":"e1","text":{"fr":"","en":"Paragraph 12 is deleted: a transaction now has a single classification.","es":""},"erroneous":true,"correction":{"fr":"","en":"Paragraph 12 is amended, not deleted: the principle is kept, only the loan example is removed.","es":""}},{"id":"e2","text":{"fr":"","en":"For an entity outside paragraphs 34B to 34D, the interest on a loan instalment is in financing.","es":""},"erroneous":false},{"id":"e3","text":{"fr":"","en":"The cross-reference in paragraph 10 requires an additional statement of cash flows by category of the statement of profit or loss.","es":""},"erroneous":true,"correction":{"fr":"","en":"The text does not establish this: the cross-reference makes the general requirements of IFRS 18 applicable without creating an additional statement.","es":""}},{"id":"e4","text":{"fr":"","en":"The part of an acquisition settled in shares is not an investing cash flow.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000225","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"PROFESSIONAL_JUDGMENT","format":"SINGLE_CHOICE","context":"BANKING","tested_point":"IAS7_V2027_PARA12_34B_ENTITY","difficulty":"ADVANCED","estimated_time_s":120,"lesson_id":"LS.IAS7.000024","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000024","section_id":"principle-stays"},"references":["IAS 7 §12","IAS 7 §17","IAS 7 §34B","IAS 7 §34C"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Credelis is a lender whose main business activity is providing financing to customers, and classifies all of its interest expense in the operating category of the statement of profit or loss (case data). It repays a loan instalment of 100,000: 80,000 principal and 20,000 interest. Which classification is consistent with the amended version?","es":""},"explanation":{"fr":"","en":"Entity under paragraphs 34B to 34D, interest expense all in the operating category: interest paid in operating (34B, 34C); principal repaid in financing (17). The transaction is split: 80,000 + 20,000.","es":""},"common_error":{"fr":"","en":"Applying the classification of ordinary entities to an entity under paragraphs 34B to 34D.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"80,000 in financing and 20,000 in operating activities","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"100,000 in financing, as for any entity","es":""},"correct":false,"feedback":{"fr":"","en":"Paragraph 34A does not apply to an entity under paragraphs 34B to 34D: its interest paid follows the classification of its interest expense (paragraphs 34B and 34C).","es":""}},{"id":"c","text":{"fr":"","en":"100,000 in operating activities","es":""},"correct":false,"feedback":{"fr":"","en":"Principal repaid on a loan remains a financing flow (paragraph 17); only the interest follows its category in the statement of profit or loss.","es":""}},{"id":"d","text":{"fr":"","en":"80,000 in financing and 20,000 in investing","es":""},"correct":false,"feedback":{"fr":"","en":"Interest expense classified in the operating category leads to interest paid in operating activities, not investing (paragraph 34C).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000226","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"TRANSPORT","tested_point":"IAS7_V2027_MIXED_TRANSACTIONS_CASE","difficulty":"EXPERT","estimated_time_s":420,"lesson_id":"LS.IAS7.000024","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000024","section_id":"judgment"},"references":["IAS 7 §12","IAS 7 §17","IAS 7 §34A","IAS 7 §39","IAS 7 §42","IAS 7 §43","IFRS 18 §C2"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Prepare the cash flows of Haldoran SA for its first period under the IFRS 18 version.","es":""},"explanation":{"fr":"","en":"The principle of paragraph 12 applies to mixed transactions: break down, set aside the shares issued, classify each movement and present the comparative under the same classification.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Haldoran SA, a fictitious road-haulage company, is not covered by paragraphs 34B to 34D (case datum). It applies IFRS 18 for the first time for 2027. Relevant facts: loan instalment paid in 2027: 90,000 (principal 70,000, interest 20,000); acquisition of control of the subsidiary Trelan: price of 300,000, of which 180,000 paid in cash and 120,000 settled by issuing Haldoran shares; cash held by Trelan at the acquisition date: 25,000. In 2026, published under the current wording, Haldoran had classified its interest paid in operating activities (choice under the current wording): interest paid in 2026: 18,000.","es":""},"parts":[{"prompt":{"fr":"","en":"IFRS 18 version. Classify the 2027 cash movements (Haldoran is not covered by paragraphs 34B to 34D).","es":""},"explanation":{"fr":"","en":"Principal (17) and interest (34A) in financing; the part paid in cash for the subsidiary in investing (39); the shares issued use no cash (43).","es":""},"common_error":{"fr":"","en":"Counting the shares issued in the investing flow.","es":""},"format":"CLASSIFICATION","categories":[{"id":"INV","text":{"fr":"","en":"Investing activities","es":""}},{"id":"FIN","text":{"fr":"","en":"Financing activities","es":""}},{"id":"NON","text":{"fr":"","en":"Outside the statement (no cash)","es":""}}],"items":[{"id":"c1","text":{"fr":"","en":"Loan principal repaid (70,000)","es":""},"category":"FIN"},{"id":"c2","text":{"fr":"","en":"Loan interest paid (20,000)","es":""},"category":"FIN"},{"id":"c3","text":{"fr":"","en":"Price paid in cash for Trelan (180,000)","es":""},"category":"INV"},{"id":"c4","text":{"fr":"","en":"Shares issued in settlement for Trelan (120,000)","es":""},"category":"NON"}],"id":"p1","dimension":"APPLICATION"},{"prompt":{"fr":"","en":"Calculate the investing flow relating to Trelan (net of cash acquired, para. 42) and the financing outflow relating to the loan in 2027.","es":""},"explanation":{"fr":"","en":"180,000 − 25,000 = 155,000 (IAS 7, para. 42); whole instalment in financing: 70,000 + 20,000 = 90,000 (IAS 7, paras. 17 and 34A).","es":""},"common_error":{"fr":"","en":"Deducting the cash acquired from the total price of 300,000.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Part paid in cash","es":""},"value":"180000","unit":"EUR"},{"label":{"fr":"","en":"Cash acquired","es":""},"value":"25000","unit":"EUR"},{"label":{"fr":"","en":"Loan instalment","es":""},"value":"90000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Net investing flow (outflow)","es":""},"answer":155000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Financing outflow (loan)","es":""},"answer":90000,"tolerance":0,"unit":"EUR"}],"id":"p2","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Net investing flow (outflow)","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Part paid in cash","es":""},"value":180000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Cash acquired","es":""},"value":25000,"unit":"EUR"}],"result":155000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Financing outflow (loan)","es":""},"expression":"a","variables":[{"symbol":"a","meaning":{"fr":"","en":"Loan instalment","es":""},"value":90000,"unit":"EUR"}],"result":90000,"unit":"EUR"}],"references":["REF.IAS7.12","REF.IAS7.17","REF.IAS7.34A","REF.IAS7.39","REF.IAS7.42","REF.IAS7.43","REF.IFRS18.C2"]}},{"prompt":{"fr":"","en":"The published 2026 comparative classified 18,000 of interest paid in operating activities. In the 2027 statements, what is done with this line?","es":""},"explanation":{"fr":"","en":"The comparative is presented under the same classification as the period: the 18,000 moves to financing, and the nature, amount and reason of the reclassification are disclosed.","es":""},"common_error":{"fr":"","en":"Keeping two different classifications between the period and its comparative.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"Reclassify it to financing in the comparative, with the same classification as 2027, unless impracticable","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"Leave it in operating to stay faithful to the published statements","es":""},"correct":false,"feedback":{"fr":"","en":"The comparative follows the classification applied to the period: IFRS 18 is applied retrospectively and comparatives are reclassified (IFRS 18, paras. C2 and 33).","es":""}},{"id":"c","text":{"fr":"","en":"Delete the line from the comparative, because the 2026 version no longer exists","es":""},"correct":false,"feedback":{"fr":"","en":"The 2026 flows still exist; only their classification changes.","es":""}}],"id":"p3","dimension":"PROFESSIONAL_JUDGMENT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000227","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"RETAIL","tested_point":"IAS7_V2027_PARA14H_NEW","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS7.000025","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000025","section_id":"rule-14h"},"references":["IAS 7 §14"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Item (h) of paragraph 14 is new in the version of IAS 7 amended by IFRS 18: it refers to paragraphs 34B to 34D for interest and dividends.","es":""},"explanation":{"fr":"","en":"True: paragraph 14(h) is one of the additions of the amended version (IAS 7, para. 14(h), IFRS 18 version).","es":""},"common_error":{"fr":"","en":"Believing the whole list in paragraph 14 is replaced.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000228","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"RECOGNITION","format":"SINGLE_CHOICE","context":"LOGISTICS","tested_point":"IAS7_V2027_ORDINARY_INTEREST_RECEIVED","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS7.000025","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000025","section_id":"rule-14"},"references":["IAS 7 §16","IAS 7 §34A"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. An ordinary entity (case datum) receives 6,000 of interest on a deposit. In which activity does it classify it?","es":""},"explanation":{"fr":"","en":"Interest received: investing for an entity outside paragraphs 34B to 34D (IAS 7, paras. 16(i) and 34A).","es":""},"common_error":{"fr":"","en":"Keeping the former operating classification of interest received.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"Investing","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"Operating, at its choice of classification","es":""},"correct":false,"feedback":{"fr":"","en":"The choice disappeared with the deletion of paragraph 33: interest received by an ordinary entity is in investing (paragraph 34A).","es":""}},{"id":"c","text":{"fr":"","en":"Financing","es":""},"correct":false,"feedback":{"fr":"","en":"Interest received is an investing flow; financing concerns interest paid.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000229","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"APPLICATION","format":"CLASSIFICATION","context":"DISTRIBUTION","tested_point":"IAS7_V2027_SIX_FLOWS","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000025","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000025","section_id":"rule-14"},"references":["IAS 7 §14","IAS 7 §16","IAS 7 §33A","IAS 7 §34A"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Ludrenne is an ordinary entity (case datum). Classify these six cash flows; no tax is specifically identified with investing or financing.","es":""},"explanation":{"fr":"","en":"Sales, suppliers and tax: operating (para. 14); disposal: investing (para. 16); dividends received: investing (para. 34A); dividends paid: financing (para. 33A).","es":""},"common_error":{"fr":"","en":"Classifying dividends received or paid in operating.","es":""},"format":"CLASSIFICATION","categories":[{"id":"OPE","text":{"fr":"","en":"Operating activities","es":""}},{"id":"INV","text":{"fr":"","en":"Investing activities","es":""}},{"id":"FIN","text":{"fr":"","en":"Financing activities","es":""}}],"items":[{"id":"f1","text":{"fr":"","en":"Cash receipts from sales","es":""},"category":"OPE"},{"id":"f2","text":{"fr":"","en":"Payments to suppliers","es":""},"category":"OPE"},{"id":"f3","text":{"fr":"","en":"Income tax paid","es":""},"category":"OPE"},{"id":"f4","text":{"fr":"","en":"Proceeds from the sale of a forklift","es":""},"category":"INV"},{"id":"f5","text":{"fr":"","en":"Dividends received from a minority holding","es":""},"category":"INV"},{"id":"f6","text":{"fr":"","en":"Dividends paid to shareholders","es":""},"category":"FIN"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000230","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"CALCULATION","format":"CALCULATION","context":"MANUFACTURING","tested_point":"IAS7_V2027_ORDINARY_OPERATING_FLOW","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IAS7.000025","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000025","section_id":"numeric-example"},"references":["IAS 7 §14","IAS 7 §34A"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Brisenne is an ordinary entity (case datum). Receipts from customers 640,000; payments to suppliers 410,000; to staff 150,000; income tax paid 30,000; interest received 12,000; interest paid 18,000. Calculate the operating cash flow and the total of the three activities for these flows.","es":""},"explanation":{"fr":"","en":"Operating: 640,000 − 410,000 − 150,000 − 30,000 = 50,000. Total: 50,000 + 12,000 (investing) − 18,000 (financing) = 44,000.","es":""},"common_error":{"fr":"","en":"Including the interest in the operating cash flow of an ordinary entity.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Customers","es":""},"value":"640000","unit":"EUR"},{"label":{"fr":"","en":"Suppliers","es":""},"value":"410000","unit":"EUR"},{"label":{"fr":"","en":"Staff","es":""},"value":"150000","unit":"EUR"},{"label":{"fr":"","en":"Tax paid","es":""},"value":"30000","unit":"EUR"},{"label":{"fr":"","en":"Interest received","es":""},"value":"12000","unit":"EUR"},{"label":{"fr":"","en":"Interest paid","es":""},"value":"18000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Operating cash flow","es":""},"answer":50000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Total of the three activities","es":""},"answer":44000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Operating cash flow","es":""},"expression":"a - b - c - d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Customers","es":""},"value":640000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Suppliers","es":""},"value":410000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Staff","es":""},"value":150000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Tax paid","es":""},"value":30000,"unit":"EUR"}],"result":50000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Total of the three activities","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Operating cash flow","es":""},"value":50000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Interest received","es":""},"value":12000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Interest paid","es":""},"value":18000,"unit":"EUR"}],"result":44000,"unit":"EUR"}],"references":["REF.IAS7.14","REF.IAS7.34A"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000231","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"APPLICATION","format":"CALCULATION","context":"BANKING","tested_point":"IAS7_V2027_LENDER_OPERATING_FLOW","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000025","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000025","section_id":"rule-14h"},"references":["IAS 7 §14","IAS 7 §34B","IAS 7 §34C"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Brisenne's flows (640,000, 410,000, 150,000, tax 30,000, interest received 12,000, interest paid 18,000) are those of Credimar, which provides financing to customers as a main business activity and classifies all its interest income and expense in the operating category (case data). Calculate its operating and investing cash flows.","es":""},"explanation":{"fr":"","en":"50,000 + 12,000 − 18,000 = 44,000 in operating; no interest in investing (paras. 14(h), 34B and 34C). Same total as for Brisenne (44,000).","es":""},"common_error":{"fr":"","en":"Applying to Credimar the fixed classifications of an ordinary entity.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Operating excluding interest","es":""},"value":"50000","unit":"EUR"},{"label":{"fr":"","en":"Interest received","es":""},"value":"12000","unit":"EUR"},{"label":{"fr":"","en":"Interest paid","es":""},"value":"18000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Operating cash flow","es":""},"answer":44000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Investing cash flow","es":""},"answer":0,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Operating cash flow","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Operating excluding interest","es":""},"value":50000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Interest received","es":""},"value":12000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Interest paid","es":""},"value":18000,"unit":"EUR"}],"result":44000,"unit":"EUR"}],"references":["REF.IAS7.14","REF.IAS7.34B","REF.IAS7.34C"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000232","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"BANKING","tested_point":"IAS7_V2027_PARA14H_RULES","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000025","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000025","section_id":"rule-14h"},"references":["IAS 7 §14","IAS 7 §34B","IAS 7 §34C"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Which of these statements about paragraph 14(h) and paragraphs 34B to 34D are correct?","es":""},"explanation":{"fr":"","en":"Alignment with the statement of profit or loss (34B) and one cash flow in a single activity (34B, 34C); the scope is limited to entities under paragraphs 34B to 34D.","es":""},"common_error":{"fr":"","en":"Extending paragraph 14(h) to any entity holding investments.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"The classification follows that of interest and dividend income and expenses in the statement of profit or loss","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"Each cash flow is classified entirely in a single activity","es":""},"correct":true},{"id":"c","text":{"fr":"","en":"The entity may freely split a single cash flow between two activities","es":""},"correct":false,"feedback":{"fr":"","en":"Each cash flow goes entirely to a single activity (paragraph 34B).","es":""}},{"id":"d","text":{"fr":"","en":"Paragraph 14(h) applies to all entities that hold investments","es":""},"correct":false,"feedback":{"fr":"","en":"It covers the entity for which investing or financing customers is a main business activity (paragraph 34B).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000233","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"FINANCE","tested_point":"IAS7_V2027_STATUS_AND_ACTIVITY","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS7.000025","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000025","section_id":"rule-14h"},"references":["IAS 7 §34A","IAS 7 §34B","IAS 7 §34C"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Complete: interest received according to the entity status.","es":""},"explanation":{"fr":"","en":"Ordinary entity: investing (34A); 34B entity with operating interest income: operating (34B, 34C).","es":""},"common_error":{"fr":"","en":"Mixing up the two statuses.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"An ordinary entity classifies its interest received in {{b1}} activities; an entity under paragraphs 34B to 34D whose interest income is all in the operating category classifies it in {{b2}} activities.","es":""},"blanks":[{"id":"b1","mode":"CHOICE","choices":[{"id":"inv","text":{"fr":"","en":"investing","es":""}},{"id":"ope","text":{"fr":"","en":"operating","es":""}}],"answer":"inv"},{"id":"b2","mode":"CHOICE","choices":[{"id":"ope","text":{"fr":"","en":"operating","es":""}},{"id":"inv","text":{"fr":"","en":"investing","es":""}}],"answer":"ope"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000234","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"MEDIA","tested_point":"IAS7_V2027_OPERATING_NOTE_REVIEW","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000025","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000025","section_id":"pitfalls"},"references":["IAS 7 §13","IAS 7 §15","IAS 7 §16","IAS 7 §33A","IAS 7 §34A","IAS 7 §34B"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Review this summary note on operating cash flows; spot the errors.","es":""},"explanation":{"fr":"","en":"Three errors: dividends paid tied to paragraph 13, the interest received choice that has gone, equating financial institution with paragraph 34B.","es":""},"common_error":{"fr":"","en":"Reasoning from the former classification choice.","es":""},"format":"ERROR_SPOT","statements":[{"id":"e1","text":{"fr":"","en":"Paragraph 13 shows that dividends paid are operating cash flows.","es":""},"erroneous":true,"correction":{"fr":"","en":"Paragraph 13 is a reading aid; dividends paid are in financing (paragraph 33A).","es":""}},{"id":"e2","text":{"fr":"","en":"The proceeds of disposal of equipment are an investing cash flow.","es":""},"erroneous":false},{"id":"e3","text":{"fr":"","en":"An ordinary entity may still choose to classify its interest received in operating.","es":""},"erroneous":true,"correction":{"fr":"","en":"The choice has gone: interest received in investing for the ordinary entity (paragraph 34A).","es":""}},{"id":"e4","text":{"fr":"","en":"A financial institution always falls under paragraphs 34B to 34D.","es":""},"erroneous":true,"correction":{"fr":"","en":"The notions are not identical: status depends on the main business activity under IFRS 18, a case datum.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000235","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"ANALYSIS","format":"SINGLE_CHOICE","context":"CONSTRUCTION","tested_point":"IAS7_V2027_GAIN_CATEGORY","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000025","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000025","section_id":"gain-category"},"references":["IAS 7 §14","IAS 7 §16","IAS 7 §18","IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Caldero sells a crane (carrying amount 80,000) for 95,000. The gain of 15,000 is classified in the investing category of the statement of profit or loss (case datum). What adjustment does the indirect method, starting from operating profit, require for it?","es":""},"explanation":{"fr":"","en":"Operating profit contains only the operating category; a gain classified in investing is not in it, so no adjustment (IAS 7, paras. 18(b)(iii) and 20(c), IFRS 18 version).","es":""},"common_error":{"fr":"","en":"Systematically removing any gain on disposal from the starting point.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"None: the gain is not in operating profit; the proceeds of 95,000 are an investing cash flow","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"−15,000, as for any gain on disposal","es":""},"correct":false,"feedback":{"fr":"","en":"Only gains in the operating category are adjusted (paragraphs 18(b)(iii), 20(c)); here the gain is in the investing category.","es":""}},{"id":"c","text":{"fr":"","en":"+15,000, because it is income without cash","es":""},"correct":false,"feedback":{"fr":"","en":"The gain is not in the starting point, and the disposal does involve cash (95,000) classified in investing.","es":""}},{"id":"d","text":{"fr":"","en":"−95,000, the whole disposal price","es":""},"correct":false,"feedback":{"fr":"","en":"The price is not in operating profit: there is nothing to remove for it.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000236","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"CONSUMER_CREDIT","tested_point":"IAS7_V2027_LENDER_CASE","difficulty":"EXPERT","estimated_time_s":420,"lesson_id":"LS.IAS7.000025","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000025","section_id":"judgment"},"references":["IAS 7 §14","IAS 7 §33A","IAS 7 §34B","IAS 7 §34C","IAS 7 §34D"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Classify and total the cash flows of Credimar for 2027.","es":""},"explanation":{"fr":"","en":"For an entity under paragraphs 34B to 34D, each cash flow follows the category of its income or expense in the statement of profit or loss; dividends paid stay in financing.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Credimar SA, a fictitious consumer-credit company, provides financing to customers as a main business activity (case datum). For its period beginning 1 January 2027, it reports: interest received on customer loans 840,000, all classified in the operating category; interest paid on its refinancing 310,000, all classified in the financing category of the statement of profit or loss; dividends received on a minority investment holding 20,000, classified in the investing category; other net operating receipts excluding interest and dividends 150,000 (receipts less payments); dividends paid to its shareholders 120,000.","es":""},"parts":[{"prompt":{"fr":"","en":"IFRS 18 version. Classify each of these four cash flows.","es":""},"explanation":{"fr":"","en":"Each cash flow follows the category of its income or expense (34B, 34C): operating, financing, investing; dividends paid are always in financing (33A).","es":""},"common_error":{"fr":"","en":"Classifying interest paid in operating to \"match\" interest received.","es":""},"format":"CLASSIFICATION","categories":[{"id":"OPE","text":{"fr":"","en":"Operating activities","es":""}},{"id":"INV","text":{"fr":"","en":"Investing activities","es":""}},{"id":"FIN","text":{"fr":"","en":"Financing activities","es":""}}],"items":[{"id":"c1","text":{"fr":"","en":"Interest received on customer loans (840,000)","es":""},"category":"OPE"},{"id":"c2","text":{"fr":"","en":"Interest paid on refinancing (310,000)","es":""},"category":"FIN"},{"id":"c3","text":{"fr":"","en":"Dividends received on the holding (20,000)","es":""},"category":"INV"},{"id":"c4","text":{"fr":"","en":"Dividends paid to shareholders (120,000)","es":""},"category":"FIN"}],"id":"p1","dimension":"APPLICATION"},{"prompt":{"fr":"","en":"Calculate the three net cash flows from these items and their total.","es":""},"explanation":{"fr":"","en":"Operating: 840,000 + 150,000 = 990,000; investing: +20,000; financing: −310,000 − 120,000 = −430,000; total: 990,000 + 20,000 − 430,000 = 580,000.","es":""},"common_error":{"fr":"","en":"Counting dividends received in operating along with interest.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Interest received","es":""},"value":"840000","unit":"EUR"},{"label":{"fr":"","en":"Other net operating receipts","es":""},"value":"150000","unit":"EUR"},{"label":{"fr":"","en":"Interest paid","es":""},"value":"310000","unit":"EUR"},{"label":{"fr":"","en":"Dividends paid","es":""},"value":"120000","unit":"EUR"},{"label":{"fr":"","en":"Dividends received","es":""},"value":"20000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Operating cash flow","es":""},"answer":990000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Investing cash flow","es":""},"answer":20000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Financing cash flow","es":""},"answer":-430000,"tolerance":0,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Total","es":""},"answer":580000,"tolerance":0,"unit":"EUR"}],"id":"p2","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Operating cash flow","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Interest received","es":""},"value":840000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Other net operating receipts","es":""},"value":150000,"unit":"EUR"}],"result":990000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Investing cash flow","es":""},"expression":"a","variables":[{"symbol":"a","meaning":{"fr":"","en":"Dividends received","es":""},"value":20000,"unit":"EUR"}],"result":20000,"unit":"EUR"},{"step":"S3","meaning":{"fr":"","en":"Financing cash flow","es":""},"expression":"-a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Interest paid","es":""},"value":310000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Dividends paid","es":""},"value":120000,"unit":"EUR"}],"result":-430000,"unit":"EUR"},{"step":"S4","meaning":{"fr":"","en":"Total","es":""},"expression":"a + b + c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Operating cash flow","es":""},"value":990000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Investing cash flow","es":""},"value":20000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Financing cash flow","es":""},"value":-430000,"unit":"EUR"}],"result":580000,"unit":"EUR"}],"references":["REF.IAS7.14","REF.IAS7.33A","REF.IAS7.34B","REF.IAS7.34C","REF.IAS7.34D"]}},{"prompt":{"fr":"","en":"The finance director proposes to classify interest paid in operating from now on \"to reflect the lending business\". What is the correct answer?","es":""},"explanation":{"fr":"","en":"The classification of cash flows follows that of income and expenses (34B, 34C); changing the statement without changing the statement of profit or loss is not open. The choice in paragraph 34D exists only if IFRS 18 splits the expense across several categories (not the case here).","es":""},"common_error":{"fr":"","en":"Believing the lender status allows a free classification.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"Not possible while the interest expense stays classified in the financing category of the statement of profit or loss: the statement follows that classification","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"Freely possible, because the company is a customer-financing entity","es":""},"correct":false,"feedback":{"fr":"","en":"The status does not give a free choice: the classification in the statement follows that of the statement of profit or loss (34B, 34C).","es":""}},{"id":"c","text":{"fr":"","en":"Possible only for half of the interest","es":""},"correct":false,"feedback":{"fr":"","en":"Each cash flow is classified entirely in one activity (34B).","es":""}}],"id":"p3","dimension":"PROFESSIONAL_JUDGMENT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000237","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"BANKING","tested_point":"IAS7_V2027_DIVIDENDS_PAID_FINANCING","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS7.000026","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000026","section_id":"rule-33a-34a"},"references":["IAS 7 §33A","IAS 7 §34B"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Dividends paid are classified in financing by every entity, including one under paragraphs 34B to 34D.","es":""},"explanation":{"fr":"","en":"True: paragraph 33A has no exception; paragraphs 34B to 34D cover interest and dividends received.","es":""},"common_error":{"fr":"","en":"Believing that a customer-financing entity classifies its dividends paid in operating.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000238","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"RECOGNITION","format":"SINGLE_CHOICE","context":"MANUFACTURING","tested_point":"IAS7_V2027_LIST_17_NEW_ITEMS","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS7.000026","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000026","section_id":"rule-17"},"references":["IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Which items does the amended version add to the list of examples of financing cash flows in paragraph 17?","es":""},"explanation":{"fr":"","en":"Items (f) and (g) are new; (a) to (e) are unchanged.","es":""},"common_error":{"fr":"","en":"Believing the whole of paragraph 17 is new.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"Dividends paid (17(f)) and interest paid (17(g))","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"Interest received and dividends received","es":""},"correct":false,"feedback":{"fr":"","en":"Cash flows received join the investing list (16(i)), not the financing list.","es":""}},{"id":"c","text":{"fr":"","en":"Repayments of loans and lease payments","es":""},"correct":false,"feedback":{"fr":"","en":"Both were already in paragraph 17 ((d) and (e)).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000239","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"APPLICATION","format":"CLASSIFICATION","context":"ENERGY","tested_point":"IAS7_V2027_FINANCING_VS_OTHERS","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000026","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000026","section_id":"rule-17"},"references":["IAS 7 §14","IAS 7 §16","IAS 7 §17","IAS 7 §34A"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Meridane is an ordinary entity (case datum). Classify these six cash flows.","es":""},"explanation":{"fr":"","en":"Issue, buy-back (17(a), (b)) and interest paid (17(g), 34A): financing; dividends received (16(i), 34A) and machine (16): investing; suppliers: operating (14).","es":""},"common_error":{"fr":"","en":"Classifying interest paid in operating.","es":""},"format":"CLASSIFICATION","categories":[{"id":"OPE","text":{"fr":"","en":"Operating activities","es":""}},{"id":"INV","text":{"fr":"","en":"Investing activities","es":""}},{"id":"FIN","text":{"fr":"","en":"Financing activities","es":""}}],"items":[{"id":"f1","text":{"fr":"","en":"Issue of shares for cash","es":""},"category":"FIN"},{"id":"f2","text":{"fr":"","en":"Buy-back of own shares","es":""},"category":"FIN"},{"id":"f3","text":{"fr":"","en":"Interest paid on a loan","es":""},"category":"FIN"},{"id":"f4","text":{"fr":"","en":"Dividends received","es":""},"category":"INV"},{"id":"f5","text":{"fr":"","en":"Purchase of a machine","es":""},"category":"INV"},{"id":"f6","text":{"fr":"","en":"Payments to suppliers","es":""},"category":"OPE"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000240","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"CALCULATION","format":"CALCULATION","context":"RETAIL","tested_point":"IAS7_V2027_INTEREST_PAID_FROM_BALANCES","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IAS7.000026","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000026","section_id":"numeric-example"},"references":["IAS 7 §32","IAS 7 §34A"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Loan interest expense 36,000; accrued interest 4,000 at the beginning and 7,500 at the end; ordinary entity (case datum). Calculate the interest paid and its classification.","es":""},"explanation":{"fr":"","en":"36,000 + 4,000 − 7,500 = 32,500, a financing cash flow (IAS 7, para. 34A).","es":""},"common_error":{"fr":"","en":"Taking the 36,000 expense as the payment.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Interest expense","es":""},"value":"36000","unit":"EUR"},{"label":{"fr":"","en":"Opening accrued interest","es":""},"value":"4000","unit":"EUR"},{"label":{"fr":"","en":"Closing accrued interest","es":""},"value":"7500","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Interest paid (financing)","es":""},"answer":32500,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Interest paid (financing)","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Interest expense","es":""},"value":36000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening accrued interest","es":""},"value":4000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing accrued interest","es":""},"value":7500,"unit":"EUR"}],"result":32500,"unit":"EUR"}],"references":["REF.IAS7.32","REF.IAS7.34A"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000241","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"CALCULATION","format":"CALCULATION","context":"AGRIFOOD","tested_point":"IAS7_V2027_NET_FINANCING_FLOW","difficulty":"ADVANCED","estimated_time_s":210,"lesson_id":"LS.IAS7.000026","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000026","section_id":"numeric-example"},"references":["IAS 7 §17","IAS 7 §33A","IAS 7 §34A","IFRS 16 §50"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Ordinary entity (case datum). Loans drawn 250,000; repaid 90,000; shares issued 60,000; dividends declared 80,000 (dividends payable 5,000 at the beginning, 12,000 at the end); interest paid on loans 22,000; lease payment 40,000 (of which 6,000 interest). Calculate dividends paid and the net financing cash flow.","es":""},"explanation":{"fr":"","en":"Dividends paid: 80,000 + 5,000 − 12,000 = 73,000. Net: 250,000 − 90,000 + 60,000 − 73,000 − 22,000 − 40,000 = 85,000 (the whole lease payment is in financing).","es":""},"common_error":{"fr":"","en":"Leaving the interest portion of the lease (6,000) out of financing.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Loans drawn","es":""},"value":"250000","unit":"EUR"},{"label":{"fr":"","en":"Loans repaid","es":""},"value":"90000","unit":"EUR"},{"label":{"fr":"","en":"Shares issued","es":""},"value":"60000","unit":"EUR"},{"label":{"fr":"","en":"Dividends declared","es":""},"value":"80000","unit":"EUR"},{"label":{"fr":"","en":"Opening dividends payable","es":""},"value":"5000","unit":"EUR"},{"label":{"fr":"","en":"Closing dividends payable","es":""},"value":"12000","unit":"EUR"},{"label":{"fr":"","en":"Interest paid on loans","es":""},"value":"22000","unit":"EUR"},{"label":{"fr":"","en":"Lease payment","es":""},"value":"40000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Dividends paid","es":""},"answer":73000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Net financing cash flow","es":""},"answer":85000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Dividends paid","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Dividends declared","es":""},"value":80000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening dividends payable","es":""},"value":5000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing dividends payable","es":""},"value":12000,"unit":"EUR"}],"result":73000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Net financing cash flow","es":""},"expression":"a - b + c - d - e - f","variables":[{"symbol":"a","meaning":{"fr":"","en":"Loans drawn","es":""},"value":250000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Loans repaid","es":""},"value":90000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Shares issued","es":""},"value":60000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Dividends paid","es":""},"value":73000,"unit":"EUR"},{"symbol":"e","meaning":{"fr":"","en":"Interest paid on loans","es":""},"value":22000,"unit":"EUR"},{"symbol":"f","meaning":{"fr":"","en":"Lease payment","es":""},"value":40000,"unit":"EUR"}],"result":85000,"unit":"EUR"}],"references":["REF.IAS7.17","REF.IAS7.33A","REF.IAS7.34A","REF.IFRS16.50"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000242","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"HOSPITALITY","tested_point":"IAS7_V2027_LEASE_PAYMENT_ENTRY","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000026","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000026","section_id":"rule-33a-34a"},"references":["IAS 7 §17","IAS 7 §34A","IFRS 16 §50"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. A lease payment of 62,000 is made: 52,000 reduces the lease liability and 10,000 is interest. Record the entry; the whole payment will be presented in financing (ordinary entity).","es":""},"explanation":{"fr":"","en":"Debit lease liability 52,000 and interest expense 10,000; credit cash 62,000 (IFRS 16, para. 50). The 62,000 cash flow is entirely in financing (IAS 7, paras. 17(e) and 34A).","es":""},"common_error":{"fr":"","en":"Posting the whole 62,000 to the lease liability.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"LEASE","text":{"fr":"","en":"Lease liability","es":""}},{"id":"INT","text":{"fr":"","en":"Interest expense","es":""}},{"id":"CASH","text":{"fr":"","en":"Cash","es":""}}],"lines":[{"id":"l1","account":"LEASE","side":"DEBIT","amount":52000,"given":["account","side"]},{"id":"l2","account":"INT","side":"DEBIT","amount":10000},{"id":"l3","account":"CASH","side":"CREDIT","amount":62000,"given":["account","side"]}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000243","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"SERVICES","tested_point":"IAS7_V2027_FINANCING_NOTE_REVIEW","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000026","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000026","section_id":"pitfalls"},"references":["IAS 7 §6","IAS 7 §17","IAS 7 §33A","IAS 7 §34A"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Review these statements from a note on financing; spot the errors.","es":""},"explanation":{"fr":"","en":"Three errors: definition supposedly referring to paragraphs 33A / 34A, declared dividends taken as paid, paragraph 33 cited.","es":""},"common_error":{"fr":"","en":"Attributing the classification to the definition rather than to the paragraph 17 list.","es":""},"format":"ERROR_SPOT","statements":[{"id":"e1","text":{"fr":"","en":"The definition of financing refers to paragraphs 33A and 34A, hence the classification of dividends and interest paid.","es":""},"erroneous":true,"correction":{"fr":"","en":"Only the list in paragraph 17 (f, g) and paragraphs 33A and 34A classify them; the definition (paragraph 6) has not received that cross-reference.","es":""}},{"id":"e2","text":{"fr":"","en":"The lease payment of an ordinary entity is entirely in financing.","es":""},"erroneous":false},{"id":"e3","text":{"fr":"","en":"Dividends declared in the period are the financing cash flow of the period.","es":""},"erroneous":true,"correction":{"fr":"","en":"The cash flow is the amount paid, adjusted for the dividends payable.","es":""}},{"id":"e4","text":{"fr":"","en":"Paragraph 33 still applies to dividends paid.","es":""},"erroneous":true,"correction":{"fr":"","en":"Paragraphs 33 and 34 are deleted; cite paragraph 33A.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000244","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"TELECOM","tested_point":"IAS7_V2027_FINANCING_STATEMENTS","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000026","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000026","section_id":"rule-17"},"references":["IAS 7 §17","IAS 7 §34A","IAS 7 §34B","IAS 7 §43"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Which statements about financing in the version amended by IFRS 18 are correct?","es":""},"explanation":{"fr":"","en":"Lease payments (17(e)) and dividends paid (17(f)) are in financing; \"always\" is wrong for interest (34B to 34D); the non-cash lease inception is outside the statement.","es":""},"common_error":{"fr":"","en":"Generalising the classification of interest paid to all entities.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"Payments by a lessee that reduce the lease liability are in financing (17(e))","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"Dividends paid are in financing (17(f), 33A)","es":""},"correct":true},{"id":"c","text":{"fr":"","en":"Interest paid is always in financing, whatever the entity","es":""},"correct":false,"feedback":{"fr":"","en":"The entity under paragraphs 34B to 34D classifies its interest paid by reference to the statement of profit or loss.","es":""}},{"id":"d","text":{"fr":"","en":"A new lease contract is a financing cash flow","es":""},"correct":false,"feedback":{"fr":"","en":"It is a non-cash transaction, outside the statement (paragraph 43).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000245","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"MANUFACTURING","tested_point":"IAS7_V2027_FINANCING_GROUP_CASE","difficulty":"EXPERT","estimated_time_s":420,"lesson_id":"LS.IAS7.000026","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000026","section_id":"judgment"},"references":["IAS 7 §17","IAS 7 §31","IAS 7 §33A","IAS 7 §34A"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Prepare the consolidated financing of Pavelle SA for 2027.","es":""},"explanation":{"fr":"","en":"Amounts paid are rebuilt from liability balances; dividends (including to minorities) and interest (including the interest portion of the lease) are in financing for an ordinary entity.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Pavelle SA, a fictitious ordinary company (case datum), holds 80% of the subsidiary Rhodane. For 2027 (period beginning 1 January 2027), consolidated: dividends declared by Pavelle 90,000 (dividends payable: 8,000 at the beginning, 14,000 at the end); dividends paid by Rhodane to its non-controlling interests 18,000 (no payable); loan interest expense 54,000 (accrued interest: 9,000 at the beginning, 6,000 at the end); loans drawn 200,000 and repaid 120,000; lease payment 30,000, of which 4,000 interest.","es":""},"parts":[{"prompt":{"fr":"","en":"Calculate dividends paid (Pavelle shareholders and non-controlling interests) and interest paid on loans.","es":""},"explanation":{"fr":"","en":"90,000 + 8,000 − 14,000 = 84,000; + 18,000 to non-controlling interests = 102,000 (IAS 7, para. 33A); interest: 54,000 + 9,000 − 6,000 = 57,000 (para. 34A).","es":""},"common_error":{"fr":"","en":"Forgetting the dividends paid by the subsidiary to its minorities.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Dividends declared","es":""},"value":"90000","unit":"EUR"},{"label":{"fr":"","en":"Opening dividends payable","es":""},"value":"8000","unit":"EUR"},{"label":{"fr":"","en":"Closing dividends payable","es":""},"value":"14000","unit":"EUR"},{"label":{"fr":"","en":"Dividends paid by the subsidiary to minorities","es":""},"value":"18000","unit":"EUR"},{"label":{"fr":"","en":"Interest expense","es":""},"value":"54000","unit":"EUR"},{"label":{"fr":"","en":"Opening accrued interest","es":""},"value":"9000","unit":"EUR"},{"label":{"fr":"","en":"Closing accrued interest","es":""},"value":"6000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Dividends paid to Pavelle shareholders","es":""},"answer":84000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Total dividends paid","es":""},"answer":102000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Interest paid on loans","es":""},"answer":57000,"tolerance":0,"unit":"EUR"}],"id":"p1","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Dividends paid to Pavelle shareholders","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Dividends declared","es":""},"value":90000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening dividends payable","es":""},"value":8000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing dividends payable","es":""},"value":14000,"unit":"EUR"}],"result":84000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Total dividends paid","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Dividends paid to Pavelle shareholders","es":""},"value":84000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Dividends paid by the subsidiary to minorities","es":""},"value":18000,"unit":"EUR"}],"result":102000,"unit":"EUR"},{"step":"S3","meaning":{"fr":"","en":"Interest paid on loans","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Interest expense","es":""},"value":54000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening accrued interest","es":""},"value":9000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing accrued interest","es":""},"value":6000,"unit":"EUR"}],"result":57000,"unit":"EUR"}],"references":["REF.IAS7.17","REF.IAS7.31","REF.IAS7.33A","REF.IAS7.34A"]}},{"prompt":{"fr":"","en":"Calculate the net financing cash flow of these items (the whole lease payment is in financing).","es":""},"explanation":{"fr":"","en":"200,000 − 120,000 − 102,000 − 57,000 − 30,000 = −109,000; interest paid: 57,000 + 4,000 = 61,000 (IAS 7, paras. 31 and 34A).","es":""},"common_error":{"fr":"","en":"Excluding the interest portion of the lease from total interest paid.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Loans drawn","es":""},"value":"200000","unit":"EUR"},{"label":{"fr":"","en":"Loans repaid","es":""},"value":"120000","unit":"EUR"},{"label":{"fr":"","en":"Total dividends paid","es":""},"value":"102000","unit":"EUR"},{"label":{"fr":"","en":"Interest paid on loans","es":""},"value":"57000","unit":"EUR"},{"label":{"fr":"","en":"Lease payment","es":""},"value":"30000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Net financing cash flow","es":""},"answer":-109000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Total interest paid to present separately","es":""},"answer":61000,"tolerance":0,"unit":"EUR"}],"id":"p2","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Net financing cash flow","es":""},"expression":"a - b - c - d - e","variables":[{"symbol":"a","meaning":{"fr":"","en":"Loans drawn","es":""},"value":200000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Loans repaid","es":""},"value":120000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Total dividends paid","es":""},"value":102000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Interest paid on loans","es":""},"value":57000,"unit":"EUR"},{"symbol":"e","meaning":{"fr":"","en":"Lease payment","es":""},"value":30000,"unit":"EUR"}],"result":-109000,"unit":"EUR"}],"references":["REF.IAS7.17","REF.IAS7.31","REF.IAS7.33A","REF.IAS7.34A"]}},{"prompt":{"fr":"","en":"A colleague proposes to put the 18,000 paid by Rhodane to its minorities under \"other flows\" outside financing. What is the answer?","es":""},"explanation":{"fr":"","en":"Dividends paid, whether to the parent's shareholders or to minorities: financing (paragraph 33A).","es":""},"common_error":{"fr":"","en":"Treating minorities as third parties.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"They are dividends paid: a financing cash flow (paragraph 33A), to be presented with the other dividends paid","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"Yes: minorities are not owners of Pavelle","es":""},"correct":false,"feedback":{"fr":"","en":"Paragraph 33A covers dividends paid; non-controlling interests are owners of the consolidated group.","es":""}},{"id":"c","text":{"fr":"","en":"Yes, in operating, to be prudent","es":""},"correct":false,"feedback":{"fr":"","en":"There is no operating classification option for dividends paid in this version.","es":""}}],"id":"p3","dimension":"PROFESSIONAL_JUDGMENT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000246","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"DISTRIBUTION","tested_point":"IAS7_V2027_DIRECT_ENCOURAGED","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS7.000027","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000027","section_id":"rule-19"},"references":["IAS 7 §18","IAS 7 §19"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. The version of IAS 7 amended by IFRS 18 makes the direct method mandatory for operating cash flows.","es":""},"explanation":{"fr":"","en":"False: the entity chooses between the two methods (paragraph 18) and the direct method is only encouraged (paragraph 19).","es":""},"common_error":{"fr":"","en":"Confusing \"encouraged\" with \"required\".","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000247","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"RECOGNITION","format":"SINGLE_CHOICE","context":"PHARMA","tested_point":"IAS7_V2027_INDIRECT_START_POINT","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS7.000027","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000027","section_id":"rule-18"},"references":["IAS 7 §18"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. What starting point does the indirect method have in this version?","es":""},"explanation":{"fr":"","en":"Paragraph 18(b), IFRS 18 version: start from operating profit.","es":""},"common_error":{"fr":"","en":"Keeping the former starting point.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"Operating profit","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"Net profit for the period","es":""},"correct":false,"feedback":{"fr":"","en":"That was the starting point before paragraph 18(b) was amended.","es":""}},{"id":"c","text":{"fr":"","en":"Receipts from customers","es":""},"correct":false,"feedback":{"fr":"","en":"That is a line of the direct method, not a starting point of the indirect method.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000248","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"CALCULATION","format":"CALCULATION","context":"AGRIFOOD","tested_point":"IAS7_V2027_PAYMENTS_TO_SUPPLIERS","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IAS7.000027","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000027","section_id":"numeric-example"},"references":["IAS 7 §19"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Cost of sales 640,000; inventories 90,000 at the beginning and 75,000 at the end; trade payables 70,000 at the beginning and 82,000 at the end. Calculate purchases then payments to suppliers.","es":""},"explanation":{"fr":"","en":"Purchases: 640,000 + (75,000 − 90,000) = 625,000. Payments: 625,000 − (82,000 − 70,000) = 613,000 (IAS 7, para. 19).","es":""},"common_error":{"fr":"","en":"Taking the cost of sales as the payment.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Cost of sales","es":""},"value":"640000","unit":"EUR"},{"label":{"fr":"","en":"Opening inventories","es":""},"value":"90000","unit":"EUR"},{"label":{"fr":"","en":"Closing inventories","es":""},"value":"75000","unit":"EUR"},{"label":{"fr":"","en":"Opening trade payables","es":""},"value":"70000","unit":"EUR"},{"label":{"fr":"","en":"Closing trade payables","es":""},"value":"82000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Purchases","es":""},"answer":625000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Payments to suppliers","es":""},"answer":613000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Purchases","es":""},"expression":"a + (c - b)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cost of sales","es":""},"value":640000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening inventories","es":""},"value":90000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing inventories","es":""},"value":75000,"unit":"EUR"}],"result":625000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Payments to suppliers","es":""},"expression":"a - (c - b)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Purchases","es":""},"value":625000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening trade payables","es":""},"value":70000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing trade payables","es":""},"value":82000,"unit":"EUR"}],"result":613000,"unit":"EUR"}],"references":["REF.IAS7.19"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000249","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"APPLICATION","format":"CALCULATION","context":"ELECTRONICS","tested_point":"IAS7_V2027_INDIRECT_FROM_OPERATING_PROFIT","difficulty":"ADVANCED","estimated_time_s":210,"lesson_id":"LS.IAS7.000027","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000027","section_id":"rule-18"},"references":["IAS 7 §18","IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Operating profit 310,000; depreciation 80,000; gain on disposal classified in the operating category 12,000 (proceeds received in investing); receivables +25,000; inventories −10,000; trade payables +15,000; income tax paid 40,000 (income tax category). Calculate cash generated from operations and net operating cash flow.","es":""},"explanation":{"fr":"","en":"310,000 + 80,000 − 12,000 − 25,000 + 10,000 + 15,000 = 378,000; less tax paid 40,000 = 338,000 (IAS 7, paras. 18(b) and 20).","es":""},"common_error":{"fr":"","en":"Forgetting to deduct tax paid, which is not in the starting point.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Operating profit","es":""},"value":"310000","unit":"EUR"},{"label":{"fr":"","en":"Depreciation","es":""},"value":"80000","unit":"EUR"},{"label":{"fr":"","en":"Gain on disposal","es":""},"value":"12000","unit":"EUR"},{"label":{"fr":"","en":"Increase in receivables","es":""},"value":"25000","unit":"EUR"},{"label":{"fr":"","en":"Decrease in inventories","es":""},"value":"10000","unit":"EUR"},{"label":{"fr":"","en":"Increase in trade payables","es":""},"value":"15000","unit":"EUR"},{"label":{"fr":"","en":"Tax paid","es":""},"value":"40000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Cash generated from operations","es":""},"answer":378000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Net operating cash flow","es":""},"answer":338000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Cash generated from operations","es":""},"expression":"a + b - c - d + e + f","variables":[{"symbol":"a","meaning":{"fr":"","en":"Operating profit","es":""},"value":310000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Depreciation","es":""},"value":80000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Gain on disposal","es":""},"value":12000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Increase in receivables","es":""},"value":25000,"unit":"EUR"},{"symbol":"e","meaning":{"fr":"","en":"Decrease in inventories","es":""},"value":10000,"unit":"EUR"},{"symbol":"f","meaning":{"fr":"","en":"Increase in trade payables","es":""},"value":15000,"unit":"EUR"}],"result":378000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Net operating cash flow","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cash generated from operations","es":""},"value":378000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Tax paid","es":""},"value":40000,"unit":"EUR"}],"result":338000,"unit":"EUR"}],"references":["REF.IAS7.18","REF.IAS7.20"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000250","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"LOGISTICS","tested_point":"IAS7_V2027_DIRECT_OR_INDIRECT_LINES","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000027","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000027","section_id":"rule-18"},"references":["IAS 7 §18","IAS 7 §20","IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Sort each line: it belongs to the direct method, the indirect method, or both.","es":""},"explanation":{"fr":"","en":"Gross lines belong to the direct method (18(a)); depreciation, balance movements and the removal of the gain are indirect-method adjustments (18(b), 20); tax paid appears on a separate line in both (18(b)(iv), 20(d), 35).","es":""},"common_error":{"fr":"","en":"Looking for depreciation in the direct method.","es":""},"format":"CLASSIFICATION","categories":[{"id":"DIR","text":{"fr":"","en":"Direct method","es":""}},{"id":"IND","text":{"fr":"","en":"Indirect method","es":""}},{"id":"BOTH","text":{"fr":"","en":"Both","es":""}}],"items":[{"id":"l1","text":{"fr":"","en":"Receipts from customers","es":""},"category":"DIR"},{"id":"l2","text":{"fr":"","en":"Add-back of depreciation","es":""},"category":"IND"},{"id":"l3","text":{"fr":"","en":"Income tax paid, separate line","es":""},"category":"BOTH"},{"id":"l4","text":{"fr":"","en":"Payments to suppliers","es":""},"category":"DIR"},{"id":"l5","text":{"fr":"","en":"Change in trade receivables","es":""},"category":"IND"},{"id":"l6","text":{"fr":"","en":"Removal of a gain on disposal in the operating category","es":""},"category":"IND"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000251","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"SERVICES","tested_point":"IAS7_V2027_METHODS_RULE","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS7.000027","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000027","section_id":"rule-18"},"references":["IAS 7 §18"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Complete the rule on the two methods.","es":""},"explanation":{"fr":"","en":"Indirect: operating profit (18(b)); direct: gross receipts and payments (18(a)).","es":""},"common_error":{"fr":"","en":"Swapping the two methods.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"Under the {{b1}} method, the entity starts from operating profit; under the {{b2}} method, it shows the major classes of {{b3}} cash receipts and payments.","es":""},"blanks":[{"id":"b1","mode":"CHOICE","choices":[{"id":"ind","text":{"fr":"","en":"indirect","es":""}},{"id":"dir","text":{"fr":"","en":"direct","es":""}}],"answer":"ind"},{"id":"b2","mode":"CHOICE","choices":[{"id":"dir","text":{"fr":"","en":"direct","es":""}},{"id":"ind","text":{"fr":"","en":"indirect","es":""}}],"answer":"dir"},{"id":"b3","mode":"CHOICE","choices":[{"id":"gross","text":{"fr":"","en":"gross","es":""}},{"id":"net","text":{"fr":"","en":"net","es":""}}],"answer":"gross"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000252","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"MINING","tested_point":"IAS7_V2027_METHODS_NOTE_REVIEW","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000027","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000027","section_id":"pitfalls"},"references":["IAS 7 §18","IAS 7 §19","IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Review these statements from a note on the two methods; spot the errors.","es":""},"explanation":{"fr":"","en":"Three errors: different net cash flows, mandatory direct method, (iii) without category limit.","es":""},"common_error":{"fr":"","en":"Overlooking the restriction to the operating category.","es":""},"format":"ERROR_SPOT","statements":[{"id":"e1","text":{"fr":"","en":"The two methods may give different net operating cash flows.","es":""},"erroneous":true,"correction":{"fr":"","en":"They describe the same net cash flow; a difference reveals an error.","es":""}},{"id":"e2","text":{"fr":"","en":"With the indirect method, tax paid is an operating cash flow with no operating income or expense (paragraphs 18(b)(iv), 20(d)).","es":""},"erroneous":false},{"id":"e3","text":{"fr":"","en":"The direct method is mandatory from 2027.","es":""},"erroneous":true,"correction":{"fr":"","en":"It is encouraged (paragraph 19), not mandatory.","es":""}},{"id":"e4","text":{"fr":"","en":"Paragraph 18(b)(iii) adjusts any gain on disposal, whatever its category.","es":""},"erroneous":true,"correction":{"fr":"","en":"It now covers only income and expenses in the operating category.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000253","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"TELECOM","tested_point":"IAS7_V2027_PARA18_ITEMS","difficulty":"ADVANCED","estimated_time_s":90,"lesson_id":"LS.IAS7.000027","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000027","section_id":"rule-18"},"references":["IAS 7 §18","IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Which statements about the items of paragraph 18(b) are correct?","es":""},"explanation":{"fr":"","en":"(iii) is restricted, (iv) is new, (i)-(ii) unchanged, new starting point.","es":""},"common_error":{"fr":"","en":"Confusing restricted items with deleted items.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"Item (iii) covers only income and expenses in the operating category whose cash effects are investing or financing","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"Item (iv) covers operating cash flows whose income or expense is not in the operating category, for example income tax","es":""},"correct":true},{"id":"c","text":{"fr":"","en":"Item (i) is deleted","es":""},"correct":false,"feedback":{"fr":"","en":"Items (i) and (ii) are unchanged.","es":""}},{"id":"d","text":{"fr":"","en":"The starting point remains net profit for the period","es":""},"correct":false,"feedback":{"fr":"","en":"The starting point is operating profit.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000254","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"INDUSTRIAL","tested_point":"IAS7_V2027_BOTH_METHODS_CASE","difficulty":"EXPERT","estimated_time_s":450,"lesson_id":"LS.IAS7.000027","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000027","section_id":"judgment"},"references":["IAS 7 §18","IAS 7 §19","IAS 7 §20","IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Prepare both methods for Sandrelle SA and assess the proposed choice.","es":""},"explanation":{"fr":"","en":"Both methods give 191,000 before tax and 149,000 after tax; the method is an entity choice.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Sandrelle SA (fictitious ordinary entity, case datum) prepares its 2027 statement (period beginning 1 January 2027). Statement of profit or loss, operating category: sales 1,500,000; cost of sales 840,000; staff expenses 380,000; other expenses paid in cash 100,000; depreciation 70,000; operating profit 110,000. Income tax category: current tax expense 45,000, no deferred tax. Opening → closing balances: receivables 200,000 → 230,000; inventories 120,000 → 100,000; suppliers 90,000 → 105,000; accrued staff costs 20,000 → 26,000; tax liability 12,000 → 15,000. No gain on disposal.","es":""},"parts":[{"prompt":{"fr":"","en":"Direct method: calculate receipts from customers, payments to suppliers and to staff, and cash generated from operations.","es":""},"explanation":{"fr":"","en":"1,500,000 − 30,000 = 1,470,000; suppliers: (840,000 − 20,000) − 15,000 = 805,000; staff: 380,000 − 6,000 = 374,000; 1,470,000 − 805,000 − 374,000 − 100,000 = 191,000.","es":""},"common_error":{"fr":"","en":"Reversing the sign of the change in inventories (a decrease reduces purchases).","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Sales","es":""},"value":"1500000","unit":"EUR"},{"label":{"fr":"","en":"Change in receivables","es":""},"value":"30000","unit":"EUR"},{"label":{"fr":"","en":"Cost of sales","es":""},"value":"840000","unit":"EUR"},{"label":{"fr":"","en":"Change in inventories","es":""},"value":"-20000","unit":"EUR"},{"label":{"fr":"","en":"Change in suppliers","es":""},"value":"15000","unit":"EUR"},{"label":{"fr":"","en":"Staff expenses","es":""},"value":"380000","unit":"EUR"},{"label":{"fr":"","en":"Change in accrued staff costs","es":""},"value":"6000","unit":"EUR"},{"label":{"fr":"","en":"Other expenses paid","es":""},"value":"100000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Receipts from customers","es":""},"answer":1470000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Payments to suppliers","es":""},"answer":805000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Payments to staff","es":""},"answer":374000,"tolerance":0,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Cash generated from operations","es":""},"answer":191000,"tolerance":0,"unit":"EUR"}],"id":"p1","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Receipts from customers","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Sales","es":""},"value":1500000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Change in receivables","es":""},"value":30000,"unit":"EUR"}],"result":1470000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Payments to suppliers","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cost of sales","es":""},"value":840000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Change in inventories","es":""},"value":-20000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Change in suppliers","es":""},"value":15000,"unit":"EUR"}],"result":805000,"unit":"EUR"},{"step":"S3","meaning":{"fr":"","en":"Payments to staff","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Staff expenses","es":""},"value":380000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Change in accrued staff costs","es":""},"value":6000,"unit":"EUR"}],"result":374000,"unit":"EUR"},{"step":"S4","meaning":{"fr":"","en":"Cash generated from operations","es":""},"expression":"a - b - c - d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Receipts from customers","es":""},"value":1470000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Payments to suppliers","es":""},"value":805000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Payments to staff","es":""},"value":374000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Other expenses paid","es":""},"value":100000,"unit":"EUR"}],"result":191000,"unit":"EUR"}],"references":["REF.IAS7.18","REF.IAS7.19","REF.IAS7.20","REF.IAS7.35"]}},{"prompt":{"fr":"","en":"Indirect method: from operating profit, find cash generated from operations, then net cash flow after tax paid.","es":""},"explanation":{"fr":"","en":"110,000 + 70,000 + 11,000 = 191,000 (same as the direct method); tax paid: 45,000 − 3,000 = 42,000; net cash flow: 149,000 (IAS 7, paras. 18(b), 20(d)).","es":""},"common_error":{"fr":"","en":"Deducting the tax expense of 45,000 instead of tax paid of 42,000.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Operating profit","es":""},"value":"110000","unit":"EUR"},{"label":{"fr":"","en":"Depreciation","es":""},"value":"70000","unit":"EUR"},{"label":{"fr":"","en":"Net working-capital movement","es":""},"value":"11000","unit":"EUR"},{"label":{"fr":"","en":"Current tax","es":""},"value":"45000","unit":"EUR"},{"label":{"fr":"","en":"Change in tax liability","es":""},"value":"3000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Cash generated from operations","es":""},"answer":191000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Tax paid","es":""},"answer":42000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Net operating cash flow","es":""},"answer":149000,"tolerance":0,"unit":"EUR"}],"id":"p2","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Cash generated from operations","es":""},"expression":"a + b + c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Operating profit","es":""},"value":110000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Depreciation","es":""},"value":70000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Net working-capital movement","es":""},"value":11000,"unit":"EUR"}],"result":191000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Tax paid","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Current tax","es":""},"value":45000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Change in tax liability","es":""},"value":3000,"unit":"EUR"}],"result":42000,"unit":"EUR"},{"step":"S3","meaning":{"fr":"","en":"Net operating cash flow","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cash generated from operations","es":""},"value":191000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Tax paid","es":""},"value":42000,"unit":"EUR"}],"result":149000,"unit":"EUR"}],"references":["REF.IAS7.18","REF.IAS7.19","REF.IAS7.20","REF.IAS7.35"]}},{"prompt":{"fr":"","en":"The finance director wants to publish the direct method \"because the standard requires it in 2027\". What is the right answer?","es":""},"explanation":{"fr":"","en":"The entity's choice, encouragement not obligation: write \"the entity applies…\" without invoking a non-existent requirement.","es":""},"common_error":{"fr":"","en":"Presenting an entity choice as imposed by the standard.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"The direct method is encouraged (paragraph 19) but not required: the entity may choose it, or choose the indirect method (paragraph 18)","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"He is right: the indirect method is deleted in 2027","es":""},"correct":false,"feedback":{"fr":"","en":"The indirect method remains, with a new starting point.","es":""}},{"id":"c","text":{"fr":"","en":"He is right only for listed entities","es":""},"correct":false,"feedback":{"fr":"","en":"The text makes no distinction by listing status.","es":""}}],"id":"p3","dimension":"PROFESSIONAL_JUDGMENT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000255","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"RETAIL","tested_point":"IAS7_V2027_NO_DEFERRED_ADJUSTMENT","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS7.000028","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000028","section_id":"rule-20d"},"references":["IAS 7 §20","IFRS 18 §67"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Starting from operating profit, the deferred tax expense must be added back.","es":""},"explanation":{"fr":"","en":"False: the tax expense (current and deferred) is in the income tax category, outside operating profit; there is nothing to add back.","es":""},"common_error":{"fr":"","en":"Applying the former reconciliation, which started from profit.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000256","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"RECOGNITION","format":"SINGLE_CHOICE","context":"ENERGY","tested_point":"IAS7_V2027_TAX_PAID_OR_EXPENSE","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS7.000028","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000028","section_id":"rule-20d"},"references":["IAS 7 §20","IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Which tax amount appears in the reconciliation of operating cash flows from operating profit?","es":""},"explanation":{"fr":"","en":"The cash flow is tax paid (paragraphs 20(d), 35).","es":""},"common_error":{"fr":"","en":"Using the expense rather than the payment.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"Income tax paid","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"The tax expense for the period","es":""},"correct":false,"feedback":{"fr":"","en":"The expense is not a cash flow and is not in the starting point.","es":""}},{"id":"c","text":{"fr":"","en":"Deferred tax alone","es":""},"correct":false,"feedback":{"fr":"","en":"Deferred tax has no cash effect.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000257","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"CALCULATION","format":"CALCULATION","context":"AGRIFOOD","tested_point":"IAS7_V2027_TAX_PAID_LIABILITY_DECREASE","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000028","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000028","section_id":"tax-paid"},"references":["IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Current tax 50,000; current tax liability 30,000 at the beginning and 12,000 at the end. Calculate tax paid.","es":""},"explanation":{"fr":"","en":"50,000 + (30,000 − 12,000) = 68,000: the liability falls, so more was paid than the current charge (IAS 7, para. 35).","es":""},"common_error":{"fr":"","en":"Reversing the direction of the change in the liability.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Current tax","es":""},"value":"50000","unit":"EUR"},{"label":{"fr":"","en":"Opening liability","es":""},"value":"30000","unit":"EUR"},{"label":{"fr":"","en":"Closing liability","es":""},"value":"12000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Tax paid","es":""},"answer":68000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Tax paid","es":""},"expression":"a + (b - c)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Current tax","es":""},"value":50000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening liability","es":""},"value":30000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing liability","es":""},"value":12000,"unit":"EUR"}],"result":68000,"unit":"EUR"}],"references":["REF.IAS7.35"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000258","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"CALCULATION","format":"CALCULATION","context":"PHARMA","tested_point":"IAS7_V2027_TAX_PAID_WITH_DEFERRED","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IAS7.000028","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000028","section_id":"numeric-example"},"references":["IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Tax expense 95,000, of which 5,000 deferred tax; current tax liability 14,000 at the beginning and 20,000 at the end. Calculate current tax then tax paid.","es":""},"explanation":{"fr":"","en":"Current: 95,000 − 5,000 = 90,000; paid: 90,000 − (20,000 − 14,000) = 84,000 (IAS 7, para. 35).","es":""},"common_error":{"fr":"","en":"Starting from the total expense without setting deferred tax aside.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Total tax expense","es":""},"value":"95000","unit":"EUR"},{"label":{"fr":"","en":"of which deferred","es":""},"value":"5000","unit":"EUR"},{"label":{"fr":"","en":"Opening liability","es":""},"value":"14000","unit":"EUR"},{"label":{"fr":"","en":"Closing liability","es":""},"value":"20000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Current tax","es":""},"answer":90000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Tax paid","es":""},"answer":84000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Current tax","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Total tax expense","es":""},"value":95000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"of which deferred","es":""},"value":5000,"unit":"EUR"}],"result":90000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Tax paid","es":""},"expression":"a - (c - b)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Current tax","es":""},"value":90000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening liability","es":""},"value":14000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing liability","es":""},"value":20000,"unit":"EUR"}],"result":84000,"unit":"EUR"}],"references":["REF.IAS7.35"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000259","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"CALCULATION","format":"CALCULATION","context":"MEDIA","tested_point":"IAS7_V2027_NET_FLOW_WITH_TAX","difficulty":"ADVANCED","estimated_time_s":210,"lesson_id":"LS.IAS7.000028","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000028","section_id":"two-routes"},"references":["IAS 7 §18","IAS 7 §20","IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Operating profit 420,000; depreciation 60,000; non-cash provision charge (operating category) 15,000; working-capital movement −25,000; current tax 70,000; deferred tax 6,000 (expense); current tax liability 10,000 at the beginning, 16,000 at the end. Calculate tax paid, cash generated from operations and net operating cash flow.","es":""},"explanation":{"fr":"","en":"Tax paid: 70,000 − (16,000 − 10,000) = 64,000 (deferred tax is not a cash flow). Cash generated: 420,000 + 60,000 + 15,000 − 25,000 = 470,000. Net: 470,000 − 64,000 = 406,000.","es":""},"common_error":{"fr":"","en":"Deducting the total expense (76,000).","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Operating profit","es":""},"value":"420000","unit":"EUR"},{"label":{"fr":"","en":"Depreciation","es":""},"value":"60000","unit":"EUR"},{"label":{"fr":"","en":"Provision charge","es":""},"value":"15000","unit":"EUR"},{"label":{"fr":"","en":"Working-capital movement","es":""},"value":"-25000","unit":"EUR"},{"label":{"fr":"","en":"Current tax","es":""},"value":"70000","unit":"EUR"},{"label":{"fr":"","en":"Opening liability","es":""},"value":"10000","unit":"EUR"},{"label":{"fr":"","en":"Closing liability","es":""},"value":"16000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Tax paid","es":""},"answer":64000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Cash generated from operations","es":""},"answer":470000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Net operating cash flow","es":""},"answer":406000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Tax paid","es":""},"expression":"a - (c - b)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Current tax","es":""},"value":70000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening liability","es":""},"value":10000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing liability","es":""},"value":16000,"unit":"EUR"}],"result":64000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Cash generated from operations","es":""},"expression":"a + b + c + d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Operating profit","es":""},"value":420000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Depreciation","es":""},"value":60000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Provision charge","es":""},"value":15000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Working-capital movement","es":""},"value":-25000,"unit":"EUR"}],"result":470000,"unit":"EUR"},{"step":"S3","meaning":{"fr":"","en":"Net operating cash flow","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cash generated from operations","es":""},"value":470000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Tax paid","es":""},"value":64000,"unit":"EUR"}],"result":406000,"unit":"EUR"}],"references":["REF.IAS7.18","REF.IAS7.20","REF.IAS7.35"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000260","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"BANKING","tested_point":"IAS7_V2027_TAX_PAYMENT_ENTRY","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000028","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000028","section_id":"entry"},"references":["IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. An entity pays 74,000 of income tax, which settles the current tax liability. Record the entry; the cash flow will be deducted in the operating reconciliation.","es":""},"explanation":{"fr":"","en":"Debit current tax liability, credit cash: 74,000. The expense was already recognised; the payment does not touch profit or loss (IAS 7, para. 35).","es":""},"common_error":{"fr":"","en":"Debiting the tax expense again at the time of payment.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"PAY","text":{"fr":"","en":"Current tax liability","es":""}},{"id":"EXP","text":{"fr":"","en":"Current tax expense","es":""}},{"id":"CASH","text":{"fr":"","en":"Cash","es":""}}],"lines":[{"id":"l1","account":"PAY","side":"DEBIT","amount":74000,"given":["account","side"]},{"id":"l2","account":"CASH","side":"CREDIT","amount":74000,"given":["account","side"]}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000261","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"ANALYSIS","format":"CLASSIFICATION","context":"MANUFACTURING","tested_point":"IAS7_V2027_RECONCILIATION_LINES","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000028","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000028","section_id":"rule-20d"},"references":["IAS 7 §20","IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Operating profit as the starting point. Sort each item: does it give a line in the reconciliation or not?","es":""},"explanation":{"fr":"","en":"Depreciation, change in receivables and tax paid each give a line (paragraphs 20(a), (b), (d)); current and deferred tax expense are not in the starting point.","es":""},"common_error":{"fr":"","en":"Adding back the tax expense as in the former route.","es":""},"format":"CLASSIFICATION","categories":[{"id":"LINE","text":{"fr":"","en":"Line in the reconciliation","es":""}},{"id":"NONE","text":{"fr":"","en":"No line","es":""}}],"items":[{"id":"i1","text":{"fr":"","en":"Depreciation (operating category)","es":""},"category":"LINE"},{"id":"i2","text":{"fr":"","en":"Income tax paid","es":""},"category":"LINE"},{"id":"i3","text":{"fr":"","en":"Current tax expense","es":""},"category":"NONE"},{"id":"i4","text":{"fr":"","en":"Deferred tax expense","es":""},"category":"NONE"},{"id":"i5","text":{"fr":"","en":"Change in trade receivables","es":""},"category":"LINE"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000262","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"SERVICES","tested_point":"IAS7_V2027_TAX_RULE_BLANKS","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS7.000028","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000028","section_id":"rule-20d"},"references":["IAS 7 §20","IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Complete the rule on income tax in the indirect method.","es":""},"explanation":{"fr":"","en":"20(d): operating cash flows whose income or expense is not in the operating category; the classification (35) is unchanged.","es":""},"common_error":{"fr":"","en":"Believing the classification of tax paid has changed.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"Operating profit is adjusted for operating cash flows, such as income tax, whose related income or expenses are {{b1}} classified in the {{b2}} category; the classification of tax paid {{b3}}.","es":""},"blanks":[{"id":"b1","mode":"CHOICE","choices":[{"id":"not","text":{"fr":"","en":"are not","es":""}},{"id":"are","text":{"fr":"","en":"are","es":""}}],"answer":"not"},{"id":"b2","mode":"CHOICE","choices":[{"id":"ope","text":{"fr":"","en":"operating","es":""}},{"id":"inv","text":{"fr":"","en":"investing","es":""}}],"answer":"ope"},{"id":"b3","mode":"CHOICE","choices":[{"id":"same","text":{"fr":"","en":"does not change","es":""}},{"id":"chg","text":{"fr":"","en":"changes","es":""}}],"answer":"same"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000263","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"AEROSPACE","tested_point":"IAS7_V2027_TAX_NOTE_REVIEW","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000028","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000028","section_id":"pitfalls"},"references":["IAS 7 §20","IAS 7 §35","IAS 7 §36"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Review these statements from a note on tax in the indirect method; spot the errors.","es":""},"explanation":{"fr":"","en":"Two errors: add-back of deferred tax and the default classification reversed.","es":""},"common_error":{"fr":"","en":"Confusing the default rule with the exception.","es":""},"format":"ERROR_SPOT","statements":[{"id":"e1","text":{"fr":"","en":"Deferred tax must be added back from operating profit.","es":""},"erroneous":true,"correction":{"fr":"","en":"The tax expense is outside operating profit: nothing to add back.","es":""}},{"id":"e2","text":{"fr":"","en":"Tax paid is computed from current tax and the change in the tax liability.","es":""},"erroneous":false},{"id":"e3","text":{"fr":"","en":"Tax paid is classified in financing unless attached to operating.","es":""},"erroneous":true,"correction":{"fr":"","en":"It is the other way round: operating, unless specifically identified with investing or financing (paragraph 35).","es":""}},{"id":"e4","text":{"fr":"","en":"The total of taxes paid is disclosed if the flows are allocated across several activities.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000264","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"REAL_ESTATE","tested_point":"IAS7_V2027_TAX_CASE","difficulty":"EXPERT","estimated_time_s":420,"lesson_id":"LS.IAS7.000028","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000028","section_id":"judgment"},"references":["IAS 7 §18","IAS 7 §20","IAS 7 §35","IAS 7 §36"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Handle the tax of Plavenne SA in its 2027 statement.","es":""},"explanation":{"fr":"","en":"Tax paid is rebuilt from balances; an established specific identification moves the cash flow out of operating.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Plavenne SA (fictitious ordinary entity, case datum), period beginning 1 January 2027. Operating profit 520,000; depreciation 110,000; working-capital movement −30,000. Income tax category: current expense 80,000, deferred expense 4,000; current tax liability 21,000 at the beginning, 27,000 at the end. Current tax includes 12,000 computed on the gain on disposal of a plot of land whose price was received in investing; the entity paid it during the year and can specifically identify it with that disposal (case datum).","es":""},"parts":[{"prompt":{"fr":"","en":"Calculate total tax paid, the part identified with investing and operating tax paid (the identified tax was paid during the year).","es":""},"explanation":{"fr":"","en":"Total: 80,000 − (27,000 − 21,000) = 74,000; operating: 74,000 − 12,000 = 62,000; 12,000 in investing (IAS 7, paras. 35 and 36).","es":""},"common_error":{"fr":"","en":"Leaving the 12,000 in operating tax paid.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Current tax","es":""},"value":"80000","unit":"EUR"},{"label":{"fr":"","en":"Opening liability","es":""},"value":"21000","unit":"EUR"},{"label":{"fr":"","en":"Closing liability","es":""},"value":"27000","unit":"EUR"},{"label":{"fr":"","en":"Tax identified with the disposal","es":""},"value":"12000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Total tax paid","es":""},"answer":74000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Operating tax paid","es":""},"answer":62000,"tolerance":0,"unit":"EUR"}],"id":"p1","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Total tax paid","es":""},"expression":"a - (c - b)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Current tax","es":""},"value":80000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening liability","es":""},"value":21000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing liability","es":""},"value":27000,"unit":"EUR"}],"result":74000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Operating tax paid","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Total tax paid","es":""},"value":74000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Tax identified with the disposal","es":""},"value":12000,"unit":"EUR"}],"result":62000,"unit":"EUR"}],"references":["REF.IAS7.18","REF.IAS7.20","REF.IAS7.35","REF.IAS7.36"]}},{"prompt":{"fr":"","en":"Prepare the net operating cash flow (tax identified with investing excluded) and the investing flow relating to the tax.","es":""},"explanation":{"fr":"","en":"520,000 + 110,000 − 30,000 = 600,000; 600,000 − 62,000 = 538,000. The land proceeds and the 12,000 of tax belong in investing.","es":""},"common_error":{"fr":"","en":"Deducting the full 74,000 of tax from the operating cash flow.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Operating profit","es":""},"value":"520000","unit":"EUR"},{"label":{"fr":"","en":"Depreciation","es":""},"value":"110000","unit":"EUR"},{"label":{"fr":"","en":"Working capital","es":""},"value":"-30000","unit":"EUR"},{"label":{"fr":"","en":"Operating tax paid","es":""},"value":"62000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Cash generated from operations","es":""},"answer":600000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Net operating cash flow","es":""},"answer":538000,"tolerance":0,"unit":"EUR"}],"id":"p2","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Cash generated from operations","es":""},"expression":"a + b + c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Operating profit","es":""},"value":520000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Depreciation","es":""},"value":110000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Working capital","es":""},"value":-30000,"unit":"EUR"}],"result":600000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Net operating cash flow","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cash generated from operations","es":""},"value":600000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Operating tax paid","es":""},"value":62000,"unit":"EUR"}],"result":538000,"unit":"EUR"}],"references":["REF.IAS7.18","REF.IAS7.20","REF.IAS7.35","REF.IAS7.36"]}},{"prompt":{"fr":"","en":"The chief accountant wants to leave the 12,000 in operating tax \"for simplicity\". What is the correct answer?","es":""},"explanation":{"fr":"","en":"Identification is a fact-based judgement; here it is given, so 12,000 in investing.","es":""},"common_error":{"fr":"","en":"Dismissing the exception in paragraph 35 for convenience.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"If the specific identification is established (case datum), the cash flow belongs to investing (paragraph 35); it must be documented","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"Yes: tax is always operating","es":""},"correct":false,"feedback":{"fr":"","en":"The default rule allows the exception of specific identification (paragraph 35).","es":""}},{"id":"c","text":{"fr":"","en":"No: all tax goes to financing","es":""},"correct":false,"feedback":{"fr":"","en":"No rule classifies tax in financing by default.","es":""}}],"id":"p3","dimension":"PROFESSIONAL_JUDGMENT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000265","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"HOLDING","tested_point":"IAS7_V2027_INVESTEE_FLOWS_ONLY","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS7.000029","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000029","section_id":"rule-37-38"},"references":["IAS 7 §37","IAS 7 §38"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. For an equity-accounted associate, the investor presents only the cash flows between itself and the investee, for example dividends and advances.","es":""},"explanation":{"fr":"","en":"True: the statement limits reporting to the cash flows between the investor and the investee, such as dividends and advances (IAS 7, paras. 37 and 38, not amended by IFRS 18).","es":""},"common_error":{"fr":"","en":"Presenting the associate's results line by line in the statement.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000266","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"RECOGNITION","format":"SINGLE_CHOICE","context":"HOLDING","tested_point":"IAS7_V2027_ASSOCIATE_DIVIDEND","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS7.000029","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000029","section_id":"dividends-34a"},"references":["IAS 7 §34A"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. An ordinary entity (case datum) receives 20,000 of dividends from its equity-accounted joint venture. Classification?","es":""},"explanation":{"fr":"","en":"Dividends received by an ordinary entity: investing (paragraph 34A(b)).","es":""},"common_error":{"fr":"","en":"Keeping the former operating choice.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"Investing","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"Operating","es":""},"correct":false,"feedback":{"fr":"","en":"The optional operating classification disappeared with the deletion of paragraph 34; paragraph 34A(b) classifies in investing.","es":""}},{"id":"c","text":{"fr":"","en":"Financing","es":""},"correct":false,"feedback":{"fr":"","en":"A dividend received is never a financing cash flow.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000267","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"APPLICATION","format":"CLASSIFICATION","context":"HOLDING","tested_point":"IAS7_V2027_INVESTEE_CLASSIFICATION","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000029","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000029","section_id":"rule-37-38"},"references":["IAS 7 §16","IAS 7 §34A","IAS 7 §37"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Calvion is an ordinary entity (case datum); its share of profit is in the investing category. Classify these items relating to Verdane.","es":""},"explanation":{"fr":"","en":"Dividends (34A(b)), subscription and advance (16): investing; the ordinary sale follows its own classification (operating, 14); the share of profit is not a cash flow (37).","es":""},"common_error":{"fr":"","en":"Counting the share of profit as a cash flow.","es":""},"format":"CLASSIFICATION","categories":[{"id":"OPE","text":{"fr":"","en":"Operating activities","es":""}},{"id":"INV","text":{"fr":"","en":"Investing activities","es":""}},{"id":"NONE","text":{"fr":"","en":"Not a cash flow","es":""}}],"items":[{"id":"i1","text":{"fr":"","en":"Dividend received from Verdane","es":""},"category":"INV"},{"id":"i2","text":{"fr":"","en":"Subscription to a capital increase of Verdane","es":""},"category":"INV"},{"id":"i3","text":{"fr":"","en":"Advance granted to Verdane","es":""},"category":"INV"},{"id":"i4","text":{"fr":"","en":"Share of Verdane's profit","es":""},"category":"NONE"},{"id":"i5","text":{"fr":"","en":"Receipt for an ordinary sale of goods to Verdane","es":""},"category":"OPE"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000268","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"CALCULATION","format":"CALCULATION","context":"HOLDING","tested_point":"IAS7_V2027_ASSOCIATE_DIVIDENDS_DERIVED","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IAS7.000029","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000029","section_id":"numeric-example"},"references":["IAS 7 §34A","IAS 7 §38","IAS 28 §10"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Carrying amount of a joint venture: 260,000 at the beginning, 300,000 at the end; share of profit 55,000; capital subscription 30,000 (no other movement). Calculate dividends received.","es":""},"explanation":{"fr":"","en":"260,000 + 55,000 + 30,000 − 300,000 = 45,000, an investing cash flow (IAS 7, paras. 34A(b) and 38).","es":""},"common_error":{"fr":"","en":"Forgetting the subscription in the movement of the carrying amount.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Opening carrying amount","es":""},"value":"260000","unit":"EUR"},{"label":{"fr":"","en":"Share of profit","es":""},"value":"55000","unit":"EUR"},{"label":{"fr":"","en":"Subscription","es":""},"value":"30000","unit":"EUR"},{"label":{"fr":"","en":"Closing carrying amount","es":""},"value":"300000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Dividends received","es":""},"answer":45000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Dividends received","es":""},"expression":"a + b + c - d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Opening carrying amount","es":""},"value":260000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Share of profit","es":""},"value":55000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Subscription","es":""},"value":30000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Closing carrying amount","es":""},"value":300000,"unit":"EUR"}],"result":45000,"unit":"EUR"}],"references":["REF.IAS7.34A","REF.IAS7.38","REF.IAS28.10"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000269","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"CALCULATION","format":"CALCULATION","context":"HOLDING","tested_point":"IAS7_V2027_NET_FLOW_WITH_ASSOCIATE","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IAS7.000029","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000029","section_id":"numeric-example"},"references":["IAS 7 §16","IAS 7 §34A","IAS 7 §38"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Calvion (ordinary entity): dividends received from its associate 50,000; capital subscription 50,000; advance granted 30,000; partial repayment of an earlier advance received 10,000. Calculate the net investing cash flow with the associate.","es":""},"explanation":{"fr":"","en":"50,000 − 50,000 − 30,000 + 10,000 = −20,000 (IAS 7, paras. 16, 34A(b) and 38).","es":""},"common_error":{"fr":"","en":"Ignoring the advance repayment received.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Dividends received","es":""},"value":"50000","unit":"EUR"},{"label":{"fr":"","en":"Subscription","es":""},"value":"50000","unit":"EUR"},{"label":{"fr":"","en":"Advance granted","es":""},"value":"30000","unit":"EUR"},{"label":{"fr":"","en":"Repayment received","es":""},"value":"10000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Net cash flow with the associate","es":""},"answer":-20000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Net cash flow with the associate","es":""},"expression":"a - b - c + d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Dividends received","es":""},"value":50000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Subscription","es":""},"value":50000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Advance granted","es":""},"value":30000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Repayment received","es":""},"value":10000,"unit":"EUR"}],"result":-20000,"unit":"EUR"}],"references":["REF.IAS7.16","REF.IAS7.34A","REF.IAS7.38"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000270","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"HOLDING","tested_point":"IAS7_V2027_ASSOCIATE_DIVIDEND_ENTRY","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000029","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000029","section_id":"entry"},"references":["IAS 7 §34A","IAS 7 §38","IAS 28 §10"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. An equity-accounted associate pays a dividend of 50,000 to the investor. Record the entry in the investor's books; the receipt will be an investing cash flow.","es":""},"explanation":{"fr":"","en":"Debit cash, credit investment: the dividend reduces the carrying amount of the investment (no income). The 50,000 cash flow is in investing (IAS 7, para. 34A(b)).","es":""},"common_error":{"fr":"","en":"Crediting dividend income.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"CASH","text":{"fr":"","en":"Cash","es":""}},{"id":"INV","text":{"fr":"","en":"Investment in associate","es":""}},{"id":"INC","text":{"fr":"","en":"Dividend income","es":""}}],"lines":[{"id":"l1","account":"CASH","side":"DEBIT","amount":50000,"given":["account","side"]},{"id":"l2","account":"INV","side":"CREDIT","amount":50000,"given":["account","side"]}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000271","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"ANALYSIS","format":"SINGLE_CHOICE","context":"HOLDING","tested_point":"IAS7_V2027_SHARE_OF_PROFIT_CATEGORY","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000029","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000029","section_id":"share-of-profit"},"references":["IAS 7 §18","IAS 7 §20","IFRS 18 §53"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Indirect method starting from operating profit. The share of profit of an associate (60,000) is classified in the investing category of the statement of profit or loss (case datum). What adjustment is needed for it?","es":""},"explanation":{"fr":"","en":"Share in the investing category: outside operating profit, so no adjustment (IAS 7, paras. 18 and 20; IFRS 18, para. 53).","es":""},"common_error":{"fr":"","en":"Applying the former adjustment for the undistributed share.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"None: it is not in operating profit","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"−60,000, because it is income without cash","es":""},"correct":false,"feedback":{"fr":"","en":"A deduction would only make sense if the share were in the starting point; it is in the investing category.","es":""}},{"id":"c","text":{"fr":"","en":"+60,000, because it is an expense","es":""},"correct":false,"feedback":{"fr":"","en":"It is income, and it is not in the starting point.","es":""}},{"id":"d","text":{"fr":"","en":"−60,000 as an investing flow","es":""},"correct":false,"feedback":{"fr":"","en":"The share of profit is not a cash flow.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000272","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"HOLDING","tested_point":"IAS7_V2027_INVESTEE_NOTE_REVIEW","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000029","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000029","section_id":"pitfalls"},"references":["IAS 7 §34A","IAS 7 §37","IAS 7 §38","IAS 7 §64"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Review these statements from a note on associates; spot the errors.","es":""},"explanation":{"fr":"","en":"Two errors: operating classification of dividends and the origin of the amendment to paragraph 37.","es":""},"common_error":{"fr":"","en":"Attributing every amendment to IFRS 18.","es":""},"format":"ERROR_SPOT","statements":[{"id":"e1","text":{"fr":"","en":"Dividends received from an associate are operating for an ordinary entity.","es":""},"erroneous":true,"correction":{"fr":"","en":"They are in investing (paragraph 34A(b)).","es":""}},{"id":"e2","text":{"fr":"","en":"The share of profit is not a cash flow.","es":""},"erroneous":false},{"id":"e3","text":{"fr":"","en":"Dividends received are derived from the movement in the carrying amount of the investment.","es":""},"erroneous":false},{"id":"e4","text":{"fr":"","en":"The 2026 amendment to paragraph 37 comes from IFRS 18.","es":""},"erroneous":true,"correction":{"fr":"","en":"It comes from Annual Improvements, Volume 11, common to both versions.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000273","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"HOLDING","tested_point":"IAS7_V2027_INVESTEE_RULE_MC","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000029","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000029","section_id":"rule-37-38"},"references":["IAS 7 §16","IAS 7 §37","IAS 7 §38","IAS 7 §64"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Which statements about cash flows with an equity-accounted associate are correct?","es":""},"explanation":{"fr":"","en":"Advances and subscriptions: investing; share of profit: not a cash flow; paragraphs 37 and 38 unchanged by IFRS 18.","es":""},"common_error":{"fr":"","en":"Seeing an IFRS 18 effect where the text is unchanged.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"Advances granted to the associate are investing cash flows","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"Subscriptions to its capital increases are investing cash flows","es":""},"correct":true},{"id":"c","text":{"fr":"","en":"The share of profit is an investing cash flow","es":""},"correct":false,"feedback":{"fr":"","en":"The share of profit is not a cash flow.","es":""}},{"id":"d","text":{"fr":"","en":"Paragraphs 37 and 38 are rewritten by IFRS 18","es":""},"correct":false,"feedback":{"fr":"","en":"They are not in the list of paragraphs amended by IFRS 18 (paragraph 64).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000274","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES","IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"HOLDING","tested_point":"IAS7_V2027_INVESTEE_CASE","difficulty":"EXPERT","estimated_time_s":420,"lesson_id":"LS.IAS7.000029","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000029","section_id":"judgment"},"references":["IAS 7 §18","IAS 7 §20","IAS 7 §34A","IAS 7 §37","IAS 7 §38","IAS 28 §10"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Handle Calvion SA's investment in Verdane for its 2027 statement.","es":""},"explanation":{"fr":"","en":"Dividends are derived from the carrying amount; the share of profit, outside operating profit, has no adjustment; only the cash flows with the associate are presented.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Calvion SA (fictitious ordinary entity, case datum) prepares its 2027 statement (period beginning 1 January 2027). 30% holding in Verdane, equity-accounted: carrying amount 480,000 at the beginning and 570,000 at the end; share of profit 90,000, classified in the investing category of the statement of profit or loss; subscription to a capital increase of Verdane 50,000; advance granted to Verdane 30,000; no other movement. Calvion's operating profit: 640,000; depreciation 120,000; working-capital movement −40,000; income tax paid 70,000.","es":""},"parts":[{"prompt":{"fr":"","en":"Calculate dividends received from Verdane and the net investing cash flow with it.","es":""},"explanation":{"fr":"","en":"480,000 + 90,000 + 50,000 − 570,000 = 50,000; net: 50,000 − 50,000 − 30,000 = −30,000.","es":""},"common_error":{"fr":"","en":"Leaving the share of profit in dividends.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Opening carrying amount","es":""},"value":"480000","unit":"EUR"},{"label":{"fr":"","en":"Share of profit","es":""},"value":"90000","unit":"EUR"},{"label":{"fr":"","en":"Subscription","es":""},"value":"50000","unit":"EUR"},{"label":{"fr":"","en":"Closing carrying amount","es":""},"value":"570000","unit":"EUR"},{"label":{"fr":"","en":"Advance granted","es":""},"value":"30000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Dividends received","es":""},"answer":50000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Net cash flow with Verdane","es":""},"answer":-30000,"tolerance":0,"unit":"EUR"}],"id":"p1","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Dividends received","es":""},"expression":"a + b + c - d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Opening carrying amount","es":""},"value":480000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Share of profit","es":""},"value":90000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Subscription","es":""},"value":50000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Closing carrying amount","es":""},"value":570000,"unit":"EUR"}],"result":50000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Net cash flow with Verdane","es":""},"expression":"a - b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Dividends received","es":""},"value":50000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Subscription","es":""},"value":50000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Advance granted","es":""},"value":30000,"unit":"EUR"}],"result":-30000,"unit":"EUR"}],"references":["REF.IAS7.18","REF.IAS7.20","REF.IAS7.34A","REF.IAS7.37","REF.IAS7.38","REF.IAS28.10"]}},{"prompt":{"fr":"","en":"Prepare Calvion's net operating cash flow from operating profit (the share of profit is not in it).","es":""},"explanation":{"fr":"","en":"640,000 + 120,000 − 40,000 = 720,000; − 70,000 = 650,000; no adjustment for the share of profit of 90,000 (outside operating profit).","es":""},"common_error":{"fr":"","en":"Deducting the 90,000 share of profit from operating profit.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Operating profit","es":""},"value":"640000","unit":"EUR"},{"label":{"fr":"","en":"Depreciation","es":""},"value":"120000","unit":"EUR"},{"label":{"fr":"","en":"Working capital","es":""},"value":"-40000","unit":"EUR"},{"label":{"fr":"","en":"Tax paid","es":""},"value":"70000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Cash generated from operations","es":""},"answer":720000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Net operating cash flow","es":""},"answer":650000,"tolerance":0,"unit":"EUR"}],"id":"p2","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Cash generated from operations","es":""},"expression":"a + b + c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Operating profit","es":""},"value":640000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Depreciation","es":""},"value":120000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Working capital","es":""},"value":-40000,"unit":"EUR"}],"result":720000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Net operating cash flow","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cash generated from operations","es":""},"value":720000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Tax paid","es":""},"value":70000,"unit":"EUR"}],"result":650000,"unit":"EUR"}],"references":["REF.IAS7.18","REF.IAS7.20","REF.IAS7.34A","REF.IAS7.37","REF.IAS7.38","REF.IAS28.10"]}},{"prompt":{"fr":"","en":"The consolidation manager proposes to present the 90,000 share of profit as \"flows relating to Verdane\" in investing. What is the answer?","es":""},"explanation":{"fr":"","en":"Only cash flows with the investee are presented (paragraphs 37 and 38).","es":""},"common_error":{"fr":"","en":"Mixing accounting result and cash movement.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"No: the share of profit is not a cash flow; only dividends, subscriptions and advances (50,000, −50,000, −30,000) are presented","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"Yes: the whole share is a latent investing flow","es":""},"correct":false,"feedback":{"fr":"","en":"There is no latent flow: the statement presents cash movements only.","es":""}},{"id":"c","text":{"fr":"","en":"Yes, but for the dividends only","es":""},"correct":false,"feedback":{"fr":"","en":"Dividends are presented at their own amount, not as part of the share of profit.","es":""}}],"id":"p3","dimension":"PROFESSIONAL_JUDGMENT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000275","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"RETAIL","tested_point":"IAS7_V2027_PARA44C_TEXT_UNCHANGED","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS7.000030","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000030","section_id":"widened-scope"},"references":["IAS 7 §33A","IAS 7 §34A","IAS 7 §44C"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. The text of paragraph 44C is unchanged in the version amended by IFRS 18, but its scope moves with the classification of interest paid and dividends paid.","es":""},"explanation":{"fr":"","en":"True: paragraph 44C covers liabilities whose cash flows are classified in financing; that classification has changed (paragraphs 33A, 34A).","es":""},"common_error":{"fr":"","en":"Believing that an unchanged text has an unchanged scope.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000276","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"RECOGNITION","format":"MULTIPLE_CHOICE","context":"ENERGY","tested_point":"IAS7_V2027_FINANCING_LIABILITIES_SCOPE","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS7.000030","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000030","section_id":"widened-scope"},"references":["IAS 7 §17","IAS 7 §33A","IAS 7 §44C"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Ordinary entity (case datum): which balances are part of the liabilities arising from financing activities to be reconciled?","es":""},"explanation":{"fr":"","en":"Borrowings, lease liabilities and dividends payable are financing liabilities (paragraphs 44C, 17, 33A); suppliers and tax are operating.","es":""},"common_error":{"fr":"","en":"Including every balance sheet debt in the reconciliation.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"A bank loan","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"A lease liability","es":""},"correct":true},{"id":"c","text":{"fr":"","en":"Dividends payable","es":""},"correct":true},{"id":"d","text":{"fr":"","en":"A trade supplier payable","es":""},"correct":false,"feedback":{"fr":"","en":"Its cash flows are operating, not financing (paragraph 14).","es":""}},{"id":"e","text":{"fr":"","en":"A current tax payable","es":""},"correct":false,"feedback":{"fr":"","en":"The payment of tax is an operating cash flow (paragraph 35).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000277","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"APPLICATION","format":"CLASSIFICATION","context":"LOGISTICS","tested_point":"IAS7_V2027_PARA44B_CATEGORIES","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000030","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000030","section_id":"rule-44"},"references":["IAS 7 §44B"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Sort each of these changes in a financing liability according to the paragraph 44B category.","es":""},"explanation":{"fr":"","en":"Drawdown and repayment: financing cash flows (a); assumed debt: control (b); US dollar: exchange (c); fair value (d); new lease and declared dividends: other (e) (IAS 7, para. 44B).","es":""},"common_error":{"fr":"","en":"Putting the assumed debt or declared dividends among cash flows.","es":""},"format":"CLASSIFICATION","categories":[{"id":"CASH","text":{"fr":"","en":"Financing cash flows","es":""}},{"id":"CTRL","text":{"fr":"","en":"Obtaining or losing control","es":""}},{"id":"FX","text":{"fr":"","en":"Foreign exchange","es":""}},{"id":"FV","text":{"fr":"","en":"Fair value","es":""}},{"id":"OTH","text":{"fr":"","en":"Other changes","es":""}}],"items":[{"id":"i1","text":{"fr":"","en":"Drawdown of a loan in cash","es":""},"category":"CASH"},{"id":"i2","text":{"fr":"","en":"Repayment of a loan","es":""},"category":"CASH"},{"id":"i3","text":{"fr":"","en":"Debt taken over with an acquired subsidiary","es":""},"category":"CTRL"},{"id":"i4","text":{"fr":"","en":"Retranslation of a US dollar loan at the closing rate","es":""},"category":"FX"},{"id":"i5","text":{"fr":"","en":"Fair value change of a loan designated at fair value","es":""},"category":"FV"},{"id":"i6","text":{"fr":"","en":"New lease contract, without cash","es":""},"category":"OTH"},{"id":"i7","text":{"fr":"","en":"Dividends declared and not yet paid","es":""},"category":"OTH"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000278","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"CALCULATION","format":"CALCULATION","context":"AGRIFOOD","tested_point":"IAS7_V2027_INTEREST_PAYABLE_ROLLFORWARD","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IAS7.000030","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000030","section_id":"numeric-example"},"references":["IAS 7 §34A","IAS 7 §44B"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Interest payable: 12,000 at the beginning, 16,000 at the end; interest expense for the period 62,000. Calculate interest paid (financing cash flow of the ordinary entity).","es":""},"explanation":{"fr":"","en":"12,000 + 62,000 − 16,000 = 58,000 (IAS 7, paras. 34A(a) and 44B).","es":""},"common_error":{"fr":"","en":"Taking the expense (62,000) as the payment.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Opening interest payable","es":""},"value":"12000","unit":"EUR"},{"label":{"fr":"","en":"Expense for the period","es":""},"value":"62000","unit":"EUR"},{"label":{"fr":"","en":"Closing interest payable","es":""},"value":"16000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Interest paid","es":""},"answer":58000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Interest paid","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Opening interest payable","es":""},"value":12000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Expense for the period","es":""},"value":62000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing interest payable","es":""},"value":16000,"unit":"EUR"}],"result":58000,"unit":"EUR"}],"references":["REF.IAS7.34A","REF.IAS7.44B"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000279","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"CALCULATION","format":"CALCULATION","context":"MANUFACTURING","tested_point":"IAS7_V2027_FINANCING_CASH_COLUMN","difficulty":"ADVANCED","estimated_time_s":210,"lesson_id":"LS.IAS7.000030","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000030","section_id":"numeric-example"},"references":["IAS 7 §31","IAS 7 §34A","IAS 7 §44D","IFRS 16 §50"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Borrowings: drawn 300,000, repaid 200,000. Lease liabilities: payments 84,000 (principal 70,000, interest 14,000). Loan interest paid 58,000. Dividends paid 140,000. Calculate the \"financing cash flows\" column of the reconciliation and the net financing cash flow of the statement (ordinary entity).","es":""},"explanation":{"fr":"","en":"(300,000 − 200,000) − 84,000 − 58,000 − 140,000 = −182,000, equal to the net financing cash flow of the statement. Interest paid: 58,000 + 14,000 = 72,000 (IAS 7, paras. 31, 34A and 44D).","es":""},"common_error":{"fr":"","en":"Counting the lease liability interest twice, or not at all.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Borrowings drawn","es":""},"value":"300000","unit":"EUR"},{"label":{"fr":"","en":"Borrowings repaid","es":""},"value":"200000","unit":"EUR"},{"label":{"fr":"","en":"Lease payments","es":""},"value":"84000","unit":"EUR"},{"label":{"fr":"","en":"Loan interest paid","es":""},"value":"58000","unit":"EUR"},{"label":{"fr":"","en":"Dividends paid","es":""},"value":"140000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"\"Financing cash flows\" column of the reconciliation","es":""},"answer":-182000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Interest paid shown on a separate line of the statement","es":""},"answer":72000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"\"Financing cash flows\" column of the reconciliation","es":""},"expression":"a - b - c - d - e","variables":[{"symbol":"a","meaning":{"fr":"","en":"Borrowings drawn","es":""},"value":300000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Borrowings repaid","es":""},"value":200000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Lease payments","es":""},"value":84000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Loan interest paid","es":""},"value":58000,"unit":"EUR"},{"symbol":"e","meaning":{"fr":"","en":"Dividends paid","es":""},"value":140000,"unit":"EUR"}],"result":-182000,"unit":"EUR"}],"references":["REF.IAS7.31","REF.IAS7.34A","REF.IAS7.44D","REF.IFRS16.50"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000280","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"RECOGNITION","format":"MATCHING","context":"TELECOM","tested_point":"IAS7_V2027_RECONCILIATION_TO_STATEMENT","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS7.000030","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000030","section_id":"statement-link"},"references":["IAS 7 §44D","IFRS 16 §50"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Match each line of the \"financing cash flows\" column of the reconciliation to the matching line of the statement.","es":""},"explanation":{"fr":"","en":"Each reconciliation line is found in the statement; the lease liability groups principal and interest paid (IAS 7, para. 44D; IFRS 16, para. 50).","es":""},"common_error":{"fr":"","en":"Forgetting that lease interest is also within the interest paid of the statement.","es":""},"format":"MATCHING","left":[{"id":"r1","text":{"fr":"","en":"Borrowings: +100,000","es":""}},{"id":"r2","text":{"fr":"","en":"Lease liabilities: −84,000","es":""}},{"id":"r3","text":{"fr":"","en":"Interest payable: −58,000","es":""}},{"id":"r4","text":{"fr":"","en":"Dividends payable: −140,000","es":""}}],"right":[{"id":"s1","text":{"fr":"","en":"Proceeds (300,000) less repayment (200,000) of borrowings","es":""}},{"id":"s2","text":{"fr":"","en":"Lease principal 70,000 and lease interest 14,000","es":""}},{"id":"s3","text":{"fr":"","en":"Interest paid on borrowings","es":""}},{"id":"s4","text":{"fr":"","en":"Dividends paid","es":""}}],"pairs":[{"left":"r1","right":"s1"},{"left":"r2","right":"s2"},{"left":"r3","right":"s3"},{"left":"r4","right":"s4"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000281","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"CONSTRUCTION","tested_point":"IAS7_V2027_RECONCILIATION_NOTE_REVIEW","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000030","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000030","section_id":"pitfalls"},"references":["IAS 7 §33A","IAS 7 §44B","IAS 7 §44C","IAS 7 §64"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Review these statements from a note on the reconciliation; spot the errors.","es":""},"explanation":{"fr":"","en":"Three errors: dividends out of scope, equity included, paragraphs rewritten.","es":""},"common_error":{"fr":"","en":"Reasoning from the former classification or from a supposedly amended text.","es":""},"format":"ERROR_SPOT","statements":[{"id":"e1","text":{"fr":"","en":"The dividends payable of an ordinary entity are outside the scope of the reconciliation.","es":""},"erroneous":true,"correction":{"fr":"","en":"Their cash flows are in financing (paragraph 33A): they fall within paragraph 44C.","es":""}},{"id":"e2","text":{"fr":"","en":"A debt taken over with an acquired subsidiary is a change without cash of its own, to be classified under obtaining control.","es":""},"erroneous":false},{"id":"e3","text":{"fr":"","en":"The reconciliation must include equity.","es":""},"erroneous":true,"correction":{"fr":"","en":"It covers liabilities (and related assets) whose cash flows are in financing, not equity (paragraph 44C).","es":""}},{"id":"e4","text":{"fr":"","en":"Paragraphs 44A to 44E are rewritten by IFRS 18.","es":""},"erroneous":true,"correction":{"fr":"","en":"They are unchanged (paragraph 64); only their scope moves.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000282","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"PROFESSIONAL_JUDGMENT","format":"SINGLE_CHOICE","context":"BANKING","tested_point":"IAS7_V2027_PARA34B_ENTITY_SCOPE","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS7.000030","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000030","section_id":"judgment"},"references":["IAS 7 §34B","IAS 7 §34C","IAS 7 §44C"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Credimar provides financing to customers as a main business activity and classifies all of its interest paid in operating activities (case data). Is its accrued interest payable part of the financing liabilities of the reconciliation?","es":""},"explanation":{"fr":"","en":"The scope of paragraph 44C follows the classification of cash flows; here interest paid is operating, so interest payable is outside the reconciliation (reading based on paragraphs 44C, 34B and 34C; classification given by the case).","es":""},"common_error":{"fr":"","en":"Extending to all entities the reading that holds for the ordinary entity.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"No: their cash flows are classified in operating, so they are not liabilities arising from financing activities (paragraph 44C)","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"Yes: every interest-bearing liability is a financing liability","es":""},"correct":false,"feedback":{"fr":"","en":"The criterion is the classification of the cash flows, not the interest-bearing nature.","es":""}},{"id":"c","text":{"fr":"","en":"Yes, as for any entity, through paragraph 34A","es":""},"correct":false,"feedback":{"fr":"","en":"Paragraph 34A does not apply to an entity under paragraphs 34B to 34D.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS7.000283","source":"V2","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"DOCUMENTATION","format":"MINI_CASE","context":"MANUFACTURING","tested_point":"IAS7_V2027_RECONCILIATION_CASE","difficulty":"EXPERT","estimated_time_s":450,"lesson_id":"LS.IAS7.000030","review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000030","section_id":"judgment"},"references":["IAS 7 §31","IAS 7 §33A","IAS 7 §34A","IAS 7 §44B","IAS 7 §44C","IAS 7 §44D","IAS 7 §44E"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Prepare the financing liabilities reconciliation of Kestrelle SA for 2027.","es":""},"explanation":{"fr":"","en":"Four liabilities are in scope (borrowings, lease liabilities, interest and dividends payable); the cash column equals the statement; non-cash changes are sorted by paragraph 44B category.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Kestrelle SA (fictitious ordinary entity, case datum), period beginning 1 January 2027. Opening balances: borrowings 800,000, lease liabilities 240,000, interest payable 12,000, dividends payable 20,000. Transactions: borrowings drawn 300,000 and repaid 200,000; borrowings taken over with an acquired subsidiary 60,000; exchange difference on borrowings 8,000; lease payments 84,000 (principal 70,000, interest 14,000); new lease contracts 90,000; interest on the lease liability 14,000; loan interest expense 62,000, paid up to 58,000; dividends declared 150,000, paid 140,000.","es":""},"parts":[{"prompt":{"fr":"","en":"Calculate the closing balances of the four liabilities and their total.","es":""},"explanation":{"fr":"","en":"Borrowings: 800,000 + 100,000 + 60,000 + 8,000 = 968,000; leases: 240,000 − 84,000 + 104,000 = 260,000; interest: 12,000 + 62,000 − 58,000 = 16,000; dividends: 20,000 + 150,000 − 140,000 = 30,000; total: 1,274,000.","es":""},"common_error":{"fr":"","en":"Forgetting the debt taken over with the subsidiary or the exchange difference.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Opening borrowings","es":""},"value":"800000","unit":"EUR"},{"label":{"fr":"","en":"Net cash flows on borrowings","es":""},"value":"100000","unit":"EUR"},{"label":{"fr":"","en":"Debt taken over with the subsidiary","es":""},"value":"60000","unit":"EUR"},{"label":{"fr":"","en":"Exchange difference","es":""},"value":"8000","unit":"EUR"},{"label":{"fr":"","en":"Opening lease liabilities","es":""},"value":"240000","unit":"EUR"},{"label":{"fr":"","en":"Lease payments","es":""},"value":"84000","unit":"EUR"},{"label":{"fr":"","en":"New contracts + lease interest","es":""},"value":"104000","unit":"EUR"},{"label":{"fr":"","en":"Opening interest payable","es":""},"value":"12000","unit":"EUR"},{"label":{"fr":"","en":"Interest expense","es":""},"value":"62000","unit":"EUR"},{"label":{"fr":"","en":"Interest paid","es":""},"value":"58000","unit":"EUR"},{"label":{"fr":"","en":"Opening dividends payable","es":""},"value":"20000","unit":"EUR"},{"label":{"fr":"","en":"Dividends declared","es":""},"value":"150000","unit":"EUR"},{"label":{"fr":"","en":"Dividends paid","es":""},"value":"140000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Closing borrowings","es":""},"answer":968000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Closing lease liabilities","es":""},"answer":260000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Closing interest payable","es":""},"answer":16000,"tolerance":0,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Closing dividends payable","es":""},"answer":30000,"tolerance":0,"unit":"EUR"},{"id":"S5","label":{"fr":"","en":"Closing total","es":""},"answer":1274000,"tolerance":0,"unit":"EUR"}],"id":"p1","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Closing borrowings","es":""},"expression":"a + b + c + d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Opening borrowings","es":""},"value":800000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Net cash flows on borrowings","es":""},"value":100000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Debt taken over with the subsidiary","es":""},"value":60000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Exchange difference","es":""},"value":8000,"unit":"EUR"}],"result":968000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Closing lease liabilities","es":""},"expression":"a - b + c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Opening lease liabilities","es":""},"value":240000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Lease payments","es":""},"value":84000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"New contracts + lease interest","es":""},"value":104000,"unit":"EUR"}],"result":260000,"unit":"EUR"},{"step":"S3","meaning":{"fr":"","en":"Closing interest payable","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Opening interest payable","es":""},"value":12000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Interest expense","es":""},"value":62000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Interest paid","es":""},"value":58000,"unit":"EUR"}],"result":16000,"unit":"EUR"},{"step":"S4","meaning":{"fr":"","en":"Closing dividends payable","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Opening dividends payable","es":""},"value":20000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Dividends declared","es":""},"value":150000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Dividends paid","es":""},"value":140000,"unit":"EUR"}],"result":30000,"unit":"EUR"},{"step":"S5","meaning":{"fr":"","en":"Closing total","es":""},"expression":"a + b + c + d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Closing borrowings","es":""},"value":968000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Closing lease liabilities","es":""},"value":260000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing interest payable","es":""},"value":16000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Closing dividends payable","es":""},"value":30000,"unit":"EUR"}],"result":1274000,"unit":"EUR"}],"references":["REF.IAS7.31","REF.IAS7.33A","REF.IAS7.34A","REF.IAS7.44B","REF.IAS7.44C","REF.IAS7.44D","REF.IAS7.44E"]}},{"prompt":{"fr":"","en":"Calculate the \"financing cash flows\" column of the reconciliation and check it against the net financing cash flow of the statement.","es":""},"explanation":{"fr":"","en":"Reconciliation: 100,000 − 84,000 − 58,000 − 140,000 = −182,000; statement: 300,000 − 200,000 − 70,000 − 72,000 − 140,000 = −182,000 (IAS 7, para. 44D).","es":""},"common_error":{"fr":"","en":"Deducting the lease interest twice in the statement.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Net cash flows on borrowings","es":""},"value":"100000","unit":"EUR"},{"label":{"fr":"","en":"Lease payments","es":""},"value":"84000","unit":"EUR"},{"label":{"fr":"","en":"Interest paid on borrowings","es":""},"value":"58000","unit":"EUR"},{"label":{"fr":"","en":"Dividends paid","es":""},"value":"140000","unit":"EUR"},{"label":{"fr":"","en":"Proceeds from borrowings","es":""},"value":"300000","unit":"EUR"},{"label":{"fr":"","en":"Repayment of borrowings","es":""},"value":"200000","unit":"EUR"},{"label":{"fr":"","en":"Lease principal","es":""},"value":"70000","unit":"EUR"},{"label":{"fr":"","en":"Total interest paid (borrowings + leases)","es":""},"value":"72000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Cash flows column of the reconciliation","es":""},"answer":-182000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Net financing cash flow of the statement","es":""},"answer":-182000,"tolerance":0,"unit":"EUR"}],"id":"p2","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Cash flows column of the reconciliation","es":""},"expression":"a - 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How should the changes in financing liabilities be presented?","es":""},"explanation":{"fr":"","en":"If the disclosure is provided with that of other assets and liabilities, changes in financing liabilities are presented separately (paragraph 44E).","es":""},"common_error":{"fr":"","en":"Merging the changes to lighten the note.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"Separately from the changes in the other items (paragraph 44E)","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"Mixed with the other changes, for readability","es":""},"correct":false,"feedback":{"fr":"","en":"Paragraph 44E requires separate presentation as soon as the information is provided with other items.","es":""}},{"id":"c","text":{"fr":"","en":"They need not be presented","es":""},"correct":false,"feedback":{"fr":"","en":"Paragraph 44A requires disclosures on changes in financing liabilities.","es":""}}],"id":"p3","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000001","standard_id":"IAS7","concept_ids":["IAS7.SCOPE.OBJECTIVE_AND_BENEFITS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000001","tested_point":"QST.IAS7.000001","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000001","section_id":"statement"},"references":["IAS 7 §1"],"exercise":{"prompt":{"fr":"","en":"An entity may present its statement of cash flows as an optional document, separate from its financial statements, provided it is published in the same year.","es":""},"explanation":{"fr":"","en":"The entity prepares a statement of cash flows and includes it as an integral part of its financial statements for every period they cover (IAS 7, para. 1).","es":""},"common_error":{"fr":"","en":"Treating the statement as a voluntary management appendix.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000002","standard_id":"IAS7","concept_ids":["IAS7.SCOPE.OBJECTIVE_AND_BENEFITS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000002","tested_point":"QST.IAS7.000002","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000001","section_id":"statement"},"references":["IAS 7 §3"],"exercise":{"prompt":{"fr":"","en":"A bank, for which cash is in a sense its stock in trade, is exempt from presenting a statement of cash flows.","es":""},"explanation":{"fr":"","en":"All entities need cash to conduct their operations, pay their obligations and provide returns to their investors, whatever their activities; the standard therefore requires the statement from all of them, financial institutions included (IAS 7, para. 3).","es":""},"common_error":{"fr":"","en":"Believing that the statement only concerns industrial and commercial companies.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000003","standard_id":"IAS7","concept_ids":["IAS7.SCOPE.OBJECTIVE_AND_BENEFITS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000003","tested_point":"QST.IAS7.000003","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000001","section_id":"statement"},"references":["IAS 7 §4"],"exercise":{"prompt":{"fr":"","en":"Used with the other financial statements, the statement of cash flows helps compare the operating performance of entities that apply different accounting treatments.","es":""},"explanation":{"fr":"","en":"Cash flow information makes operating performance easier to compare across entities, since it removes the effect of different accounting treatments applied to the same transactions (IAS 7, para. 4).","es":""},"common_error":{"fr":"","en":"Thinking that the statement only serves to check the bank balance.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000004","standard_id":"IAS7","concept_ids":["IAS7.SCOPE.OBJECTIVE_AND_BENEFITS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000004","tested_point":"QST.IAS7.000004","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000001","section_id":"statement"},"references":["IAS 7 §5"],"exercise":{"prompt":{"fr":"","en":"Past cash flows are of no use in assessing the amount, timing and certainty of future cash flows.","es":""},"explanation":{"fr":"","en":"Past cash flows frequently serve as an indicator of how large, how timely and how certain future cash flows will be; it also helps check the accuracy of past assessments and examine the relationship between profitability and net cash flows (IAS 7, para. 5).","es":""},"common_error":{"fr":"","en":"Opposing historical information to any forward-looking analysis.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000005","standard_id":"IAS7","concept_ids":["IAS7.SCOPE.OBJECTIVE_AND_BENEFITS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000005","tested_point":"QST.IAS7.000005","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000001","section_id":"statement"},"references":["IAS 7 §1"],"exercise":{"prompt":{"fr":"","en":"For which periods must an entity present a statement of cash flows?","es":""},"explanation":{"fr":"","en":"The statement of cash flows is presented as an integral part of the financial statements for each period for which they are presented (IAS 7, para. 1).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"For each period for which financial statements are presented.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Only for the period just ended, with no comparative period.","es":""},"correct":false,"feedback":{"fr":"","en":"The statement is required for each period presented, comparatives included.","es":""}},{"id":"C","text":{"fr":"","en":"Only when cash has decreased during the period.","es":""},"correct":false,"feedback":{"fr":"","en":"The requirement does not depend on the direction of the change in cash.","es":""}},{"id":"D","text":{"fr":"","en":"Only for periods in which an issue of equity securities is being planned.","es":""},"correct":false,"feedback":{"fr":"","en":"The statement is not tied to a financing project.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000006","standard_id":"IAS7","concept_ids":["IAS7.SCOPE.OBJECTIVE_AND_BENEFITS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000006","tested_point":"QST.IAS7.000006","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000001","section_id":"statement"},"references":["IAS 7 §3"],"exercise":{"prompt":{"fr":"","en":"Why does the standard require a statement of cash flows from all entities, whatever their activities?","es":""},"explanation":{"fr":"","en":"Whatever their activities, entities need cash for their operations, their obligations and the returns to their investors; this is why all of them present a statement (IAS 7, para. 3).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Because the statement replaces the income statement for small entities, which need not present their performance.","es":""},"correct":false,"feedback":{"fr":"","en":"The statement complements the other statements; it does not replace them.","es":""}},{"id":"B","text":{"fr":"","en":"Because every entity needs cash to operate, pay its obligations and provide returns to investors.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Because the tax authorities compute tax from cash flows.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard pursues no tax objective.","es":""}},{"id":"D","text":{"fr":"","en":"Because only financial institutions may choose not to present it.","es":""},"correct":false,"feedback":{"fr":"","en":"Financial institutions are expressly covered.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000007","standard_id":"IAS7","concept_ids":["IAS7.SCOPE.OBJECTIVE_AND_BENEFITS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000007","tested_point":"QST.IAS7.000007","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000001","section_id":"statement"},"references":["IAS 7 §4"],"exercise":{"prompt":{"fr":"","en":"Used with the other financial statements, what does the statement of cash flows notably help assess?","es":""},"explanation":{"fr":"","en":"Together with the other statements, the statement helps assess changes in net assets, the financial structure (liquidity and solvency) and the entity's ability to adapt the amounts and timing of its cash flows (IAS 7, para. 4).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The fair value of each of the entity's assets at the reporting date.","es":""},"correct":false,"feedback":{"fr":"","en":"The statement does not measure the fair value of assets.","es":""}},{"id":"B","text":{"fr":"","en":"The taxable profit for the period and the tax due.","es":""},"correct":false,"feedback":{"fr":"","en":"These amounts belong to taxation, not to the statement.","es":""}},{"id":"C","text":{"fr":"","en":"Liquidity, solvency and control over the amount and timing of cash flows.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The entity's market value and the target price of its shares, from discounted future cash flows.","es":""},"correct":false,"feedback":{"fr":"","en":"The statement does not provide a market valuation.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000008","standard_id":"IAS7","concept_ids":["IAS7.SCOPE.OBJECTIVE_AND_BENEFITS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000008","tested_point":"QST.IAS7.000008","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000001","section_id":"statement"},"references":["IAS 7 §5"],"exercise":{"prompt":{"fr":"","en":"An analyst compares the net cash flows achieved by Corlisse with those he had forecast two years earlier. Which use of cash flow information does this illustrate?","es":""},"explanation":{"fr":"","en":"Historical cash flow information notably makes it possible to check the accuracy of past assessments of future cash flows and serves as an indicator of their amount, timing and certainty (IAS 7, para. 5).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Determining the recoverable amount of assets.","es":""},"correct":false,"feedback":{"fr":"","en":"That test belongs to another standard and other data.","es":""}},{"id":"B","text":{"fr":"","en":"Computing earnings per share for the period.","es":""},"correct":false,"feedback":{"fr":"","en":"Earnings per share do not result from this comparison.","es":""}},{"id":"C","text":{"fr":"","en":"Measuring inventories at the lower of cost and realisable value.","es":""},"correct":false,"feedback":{"fr":"","en":"Inventory measurement is not at stake.","es":""}},{"id":"D","text":{"fr":"","en":"Checking the accuracy of past assessments of future cash flows.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000009","standard_id":"IAS7","concept_ids":["IAS7.SCOPE.OBJECTIVE_AND_BENEFITS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000009","tested_point":"QST.IAS7.000009","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000001","section_id":"statement"},"references":["IAS 7 §1","IAS 7 §3"],"exercise":{"prompt":{"fr":"","en":"Halrane, an insurance company, and Ulvenne, a bakery chain, are preparing their IFRS financial statements. Which of them must present a statement of cash flows?","es":""},"explanation":{"fr":"","en":"Every entity presents a statement of cash flows as an integral part of its financial statements (IAS 7, para. 1), including when its business is financial (IAS 7, para. 3).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Only Ulvenne, because Halrane is a financial institution.","es":""},"correct":false,"feedback":{"fr":"","en":"Financial institutions are not exempt.","es":""}},{"id":"B","text":{"fr":"","en":"Both, as an integral part of their financial statements.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Only Halrane, because its cash flows are larger.","es":""},"correct":false,"feedback":{"fr":"","en":"The size of the cash flows is not a criterion.","es":""}},{"id":"D","text":{"fr":"","en":"Neither, the statement being voluntary information.","es":""},"correct":false,"feedback":{"fr":"","en":"The statement is required.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000010","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000010","tested_point":"QST.IAS7.000010","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000002","section_id":"definitions"},"references":["IAS 7 §6"],"exercise":{"prompt":{"fr":"","en":"Under the standard, cash comprises cash on hand and demand deposits.","es":""},"explanation":{"fr":"","en":"Cash means cash held on hand plus demand deposits; short-term investments may qualify as cash equivalents (IAS 7, para. 6).","es":""},"common_error":{"fr":"","en":"Including a term deposit in cash in the strict sense.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000011","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000011","tested_point":"QST.IAS7.000011","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000002","section_id":"definitions"},"references":["IAS 7 §6"],"exercise":{"prompt":{"fr":"","en":"Operating activities are defined residually: besides the principal revenue-producing activities, they include everything that is neither investing nor financing.","es":""},"explanation":{"fr":"","en":"Operating activities are the entity's principal revenue-producing activities and other activities that are not investing or financing activities (IAS 7, para. 6).","es":""},"common_error":{"fr":"","en":"Equating operating activities with income statement revenue only.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000012","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000012","tested_point":"QST.IAS7.000012","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000002","section_id":"definitions"},"references":["IAS 7 §6"],"exercise":{"prompt":{"fr":"","en":"Kertara buys another company's bonds, held for the long term, paying for them with a bank loan drawn the same day. The payment for the bonds is a financing cash flow.","es":""},"explanation":{"fr":"","en":"The acquisition of investments not included in cash equivalents is an investing activity; the loan drawdown, which changes the entity’s borrowings, is financing (IAS 7, para. 6).","es":""},"common_error":{"fr":"","en":"Classifying the purchase of an investment as financing because it is paid by borrowing.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000013","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000013","tested_point":"QST.IAS7.000013","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000002","section_id":"definitions"},"references":["IAS 7 §6"],"exercise":{"prompt":{"fr":"","en":"What does the term “cash flows” mean in the standard?","es":""},"explanation":{"fr":"","en":"Cash flows are inflows and outflows of cash and cash equivalents (IAS 7, para. 6).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Inflows and outflows of cash and cash equivalents.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Profit plus depreciation charges.","es":""},"correct":false,"feedback":{"fr":"","en":"This is a management indicator, not the definition.","es":""}},{"id":"C","text":{"fr":"","en":"Income and expenses recognised during the period.","es":""},"correct":false,"feedback":{"fr":"","en":"Income and expenses are not movements of cash.","es":""}},{"id":"D","text":{"fr":"","en":"Changes in all items of the statement of financial position.","es":""},"correct":false,"feedback":{"fr":"","en":"Only changes in cash and cash equivalents are targeted.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000014","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000014","tested_point":"QST.IAS7.000014","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000002","section_id":"definitions"},"references":["IAS 7 §6"],"exercise":{"prompt":{"fr":"","en":"Under the definition, what characterises investing activities?","es":""},"explanation":{"fr":"","en":"Investing activities consist of buying and selling long-term assets and other investments that are not cash equivalents (IAS 7, para. 6).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Any significant spending made for the entity's future, whether recognised as an asset or an expense.","es":""},"correct":false,"feedback":{"fr":"","en":"An expense is not investing under the standard.","es":""}},{"id":"B","text":{"fr":"","en":"Transactions that change contributed equity and borrowings.","es":""},"correct":false,"feedback":{"fr":"","en":"That is the definition of financing activities.","es":""}},{"id":"C","text":{"fr":"","en":"Cash investments with less than three months to run.","es":""},"correct":false,"feedback":{"fr":"","en":"Such investments may be cash equivalents, excluded from investing.","es":""}},{"id":"D","text":{"fr":"","en":"Buying and selling long-term assets and other investments that are not cash equivalents.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000015","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000015","tested_point":"QST.IAS7.000015","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000002","section_id":"definitions"},"references":["IAS 7 §6"],"exercise":{"prompt":{"fr":"","en":"Which transaction matches the definition of financing activities?","es":""},"explanation":{"fr":"","en":"Financing activities change the size and composition of the entity's contributed equity and borrowings (IAS 7, para. 6): repaying a bond issued by the entity is one of them.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Collection of a trade receivable.","es":""},"correct":false,"feedback":{"fr":"","en":"Flow linked to sales: operating.","es":""}},{"id":"B","text":{"fr":"","en":"A cash loan granted by the entity to a key supplier in difficulty.","es":""},"correct":false,"feedback":{"fr":"","en":"A loan made to a third party is investing.","es":""}},{"id":"C","text":{"fr":"","en":"Early repayment of a bond issued by the entity.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Purchase of a warehouse paid in cash.","es":""},"correct":false,"feedback":{"fr":"","en":"Acquisition of a long-term asset: investing.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000016","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000016","tested_point":"QST.IAS7.000016","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000002","section_id":"definitions"},"references":["IAS 7 §6"],"exercise":{"prompt":{"fr":"","en":"Fenvora receives an insurance settlement after the theft of goods held in inventory. With no other link to investing or financing, how do the definitions classify this flow?","es":""},"explanation":{"fr":"","en":"Operating activities cover the principal revenue-producing activities and other activities that are neither investing nor financing (IAS 7, para. 6); the settlement relating to inventories has no other link.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Outside the statement, because an insurance settlement is not revenue from ordinary activities.","es":""},"correct":false,"feedback":{"fr":"","en":"A receipt remains a cash flow even if it is not revenue.","es":""}},{"id":"B","text":{"fr":"","en":"Financing, because the insurer provides funds to the entity.","es":""},"correct":false,"feedback":{"fr":"","en":"The insurer provides neither equity nor borrowing.","es":""}},{"id":"C","text":{"fr":"","en":"Operating, under the residual definition of operating activities.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Investing, because inventories are assets.","es":""},"correct":false,"feedback":{"fr":"","en":"Inventories are not long-term assets.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000017","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000017","tested_point":"QST.IAS7.000017","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000002","section_id":"definitions"},"references":["IAS 7 §6"],"exercise":{"prompt":{"fr":"","en":"Rosvenne issues new shares for cash and, the following month, uses the funds to buy a factory. How should the two flows be classified?","es":""},"explanation":{"fr":"","en":"The share issue changes contributed equity: financing; the purchase of a long-term asset is investing (IAS 7, para. 6). The funding link between the two does not change this classification.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Both as financing, since the factory is funded by the issue.","es":""},"correct":false,"feedback":{"fr":"","en":"The source of funds does not change the nature of the purchase.","es":""}},{"id":"B","text":{"fr":"","en":"Both as investing, because the issue serves an industrial project.","es":""},"correct":false,"feedback":{"fr":"","en":"The issue changes contributed equity: financing.","es":""}},{"id":"C","text":{"fr":"","en":"A single nil net flow, the two transactions offsetting.","es":""},"correct":false,"feedback":{"fr":"","en":"Both transactions moved cash and are not offset.","es":""}},{"id":"D","text":{"fr":"","en":"Share issue as financing, factory purchase as investing.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000018","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000018","tested_point":"QST.IAS7.000018","difficulty":"BEGINNER","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000002","section_id":"definitions"},"references":["IAS 7 §6"],"exercise":{"prompt":{"fr":"","en":"Which of the following flows are operating activities under the definitions?","es":""},"explanation":{"fr":"","en":"Sales, purchases of goods and payments to employees belong to the principal revenue-producing activities or to activities that are neither investing nor financing (IAS 7, para. 6).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Receipts from sales of goods.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Purchase of land for a future factory.","es":""},"correct":false,"feedback":{"fr":"","en":"Long-term asset: investing.","es":""}},{"id":"C","text":{"fr":"","en":"Payments to suppliers of goods.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Issue of a bond.","es":""},"correct":false,"feedback":{"fr":"","en":"Changes borrowings: financing.","es":""}},{"id":"E","text":{"fr":"","en":"Payments to employees.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000019","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000019","tested_point":"QST.IAS7.000019","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000002","section_id":"definitions"},"references":["IAS 7 §6"],"exercise":{"prompt":{"fr":"","en":"Which of the following flows of Nalline, a manufacturing company, are investing activities?","es":""},"explanation":{"fr":"","en":"Investing activities cover buying and selling long-term assets and other investments that are not cash equivalents (IAS 7, para. 6); share buy-backs and loan drawdowns are financing.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Placing surplus cash in an interest-bearing demand account.","es":""},"correct":false,"feedback":{"fr":"","en":"The demand account is part of cash: no cash flow.","es":""}},{"id":"B","text":{"fr":"","en":"Purchase of shares in an unlisted company, held long term.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Buy-back by Nalline of its own shares.","es":""},"correct":false,"feedback":{"fr":"","en":"Changes contributed equity: financing.","es":""}},{"id":"D","text":{"fr":"","en":"Disposal of an office building.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Drawdown of a loan intended to finance a machine.","es":""},"correct":false,"feedback":{"fr":"","en":"The drawdown changes borrowings: financing, whatever the use of the funds.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000020","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000020","tested_point":"QST.IAS7.000020","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000002","section_id":"definitions"},"references":["IAS 7 §6"],"exercise":{"prompt":{"fr":"","en":"Which of the following flows of Kerline are financing activities?","es":""},"explanation":{"fr":"","en":"Financing activities change the size and composition of the entity's contributed equity and borrowings (IAS 7, para. 6); when the entity lends or buys others' securities, it invests.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Purchase of five-year government debt securities.","es":""},"correct":false,"feedback":{"fr":"","en":"Investment: investing.","es":""}},{"id":"B","text":{"fr":"","en":"Proceeds of a bond issued by Kerline.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Receipt from a cash capital increase.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Repayment of a bank loan of Kerline.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Repayment received on a loan made by Kerline to a customer.","es":""},"correct":false,"feedback":{"fr":"","en":"Kerline is the lender: investing.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000021","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.KEY_TERMS"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000021","tested_point":"QST.IAS7.000021","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000002","section_id":"definitions"},"references":["IAS 7 §6"],"exercise":{"prompt":{"fr":"","en":"Ostdane buys an office building for its headquarters, paying for it with a mortgage loan disbursed through its bank, and presents the payment for the building as a financing cash flow. What is the error?","es":""},"explanation":{"fr":"","en":"The acquisition of a long-term asset is an investing activity; obtaining a loan changes the entity's borrowings and is financing (IAS 7, para. 6).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The payment for the building is investing; only the loan proceeds are financing.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"There is no error: an asset financed by borrowing follows the classification of the loan.","es":""},"correct":false,"feedback":{"fr":"","en":"This is precisely the error to avoid.","es":""}},{"id":"C","text":{"fr":"","en":"The payment for the building is operating, as the headquarters serves the business.","es":""},"correct":false,"feedback":{"fr":"","en":"A long-term asset acquired is investing.","es":""}},{"id":"D","text":{"fr":"","en":"The mortgage loan should be presented as investing.","es":""},"correct":false,"feedback":{"fr":"","en":"The entity's borrowing is financing.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000022","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.KEY_TERMS"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000022","tested_point":"QST.IAS7.000022","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000002","section_id":"definitions"},"references":["IAS 7 §6"],"exercise":{"prompt":{"fr":"","en":"To classify its cash flows, the controller of Tormira uses this rule: “only flows linked to income recognised in profit or loss are operating; any other flow is investing”. What is the error?","es":""},"explanation":{"fr":"","en":"Operating activities include the principal revenue-producing activities and other activities that are neither investing nor financing (IAS 7, para. 6): the residual definition points to operating.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"None: this is the definition of operating activities.","es":""},"correct":false,"feedback":{"fr":"","en":"The rule reverses the logic of the definition.","es":""}},{"id":"B","text":{"fr":"","en":"The definition is residual: operating is whatever is neither investing nor financing.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The residual category is financing.","es":""},"correct":false,"feedback":{"fr":"","en":"Financing has its own definition (equity and borrowings).","es":""}},{"id":"D","text":{"fr":"","en":"Flows with no matching income in profit or loss must be excluded from the statement of cash flows.","es":""},"correct":false,"feedback":{"fr":"","en":"Every movement of cash appears in the statement.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000023","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.KEY_TERMS"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000023","tested_point":"QST.IAS7.000023","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000002","section_id":"definitions"},"references":["IAS 7 §6"],"exercise":{"prompt":{"fr":"","en":"Peltis grants an 18-month loan to its joint venture and presents the payment as a financing activity, on the ground that it is a “financing transaction”. What is the error?","es":""},"explanation":{"fr":"","en":"Financing activities change the entity's contributed equity and borrowings; a loan granted is an investment not included in cash equivalents, hence an investing activity (IAS 7, para. 6).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A loan of more than 12 months to a joint venture must be presented as operating activities.","es":""},"correct":false,"feedback":{"fr":"","en":"The term does not make the loan operating.","es":""}},{"id":"B","text":{"fr":"","en":"The loan is a cash equivalent that generates no cash flow.","es":""},"correct":false,"feedback":{"fr":"","en":"An 18-month loan to a joint venture does not meet the definition.","es":""}},{"id":"C","text":{"fr":"","en":"There is no error; Peltis may choose freely.","es":""},"correct":false,"feedback":{"fr":"","en":"The definitions leave no choice here.","es":""}},{"id":"D","text":{"fr":"","en":"A loan made is an investment of the entity: it is investing.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000024","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000024","tested_point":"QST.IAS7.000024","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"definitions"},"references":["IAS 7 §6"],"exercise":{"prompt":{"fr":"","en":"To be a cash equivalent, an investment must notably be readily convertible to a known amount of cash and subject to an insignificant risk of changes in value.","es":""},"explanation":{"fr":"","en":"Cash equivalents are short-term investments that are highly liquid, easily converted into a known amount of cash and exposed only to an insignificant risk of a change in value (IAS 7, para. 6).","es":""},"common_error":{"fr":"","en":"Looking only at the liquidity of an investment.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000025","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000025","tested_point":"QST.IAS7.000025","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"definitions"},"references":["IAS 7 §7"],"exercise":{"prompt":{"fr":"","en":"Highly liquid listed shares that can be sold within a day are normally cash equivalents.","es":""},"explanation":{"fr":"","en":"Shares are not cash equivalents unless their substance makes them so, as with preference shares bought close to a fixed redemption date (IAS 7, para. 7).","es":""},"common_error":{"fr":"","en":"Confusing market liquidity with a known amount of cash.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000026","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000026","tested_point":"QST.IAS7.000026","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"definitions"},"references":["IAS 7 §9"],"exercise":{"prompt":{"fr":"","en":"Transferring funds from a current account to a deposit qualifying as a cash equivalent is presented as an investing outflow.","es":""},"explanation":{"fr":"","en":"Movements between items that constitute cash or cash equivalents are not cash flows: they are part of cash management, for example investing excess cash in cash equivalents (IAS 7, para. 9).","es":""},"common_error":{"fr":"","en":"Presenting an internal movement as an investing flow.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000027","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000027","tested_point":"QST.IAS7.000027","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"definitions"},"references":["IAS 7 §7"],"exercise":{"prompt":{"fr":"","en":"From which date is the short maturity (about three months) of a cash equivalent normally assessed?","es":""},"explanation":{"fr":"","en":"As a rule, only an investment with a short maturity, about three months or less counted from its acquisition, is a cash equivalent (IAS 7, para. 7).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The reporting date, using the remaining maturity.","es":""},"correct":false,"feedback":{"fr":"","en":"The remaining maturity at the reporting date is not the criterion.","es":""}},{"id":"B","text":{"fr":"","en":"The date the financial statements are authorised for issue.","es":""},"correct":false,"feedback":{"fr":"","en":"This date plays no role in the qualification.","es":""}},{"id":"C","text":{"fr":"","en":"The date the investment was acquired.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The date the entity's bank account was opened.","es":""},"correct":false,"feedback":{"fr":"","en":"Unrelated to the duration of the investment.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000028","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000028","tested_point":"QST.IAS7.000028","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"definitions"},"references":["IAS 7 §7"],"exercise":{"prompt":{"fr":"","en":"In which case can an equity instrument be a cash equivalent?","es":""},"explanation":{"fr":"","en":"Equity investments are excluded unless they are cash equivalents in substance, for example preference shares bought shortly before a fixed redemption date (IAS 7, para. 7).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Ordinary shares listed on a very active market and sold within a few hours.","es":""},"correct":false,"feedback":{"fr":"","en":"Their realisable value remains uncertain.","es":""}},{"id":"B","text":{"fr":"","en":"Preferred shares acquired shortly before their maturity, with a specified redemption date.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Units of a fund invested in listed shares, redeemable daily at net asset value by the fund manager.","es":""},"correct":false,"feedback":{"fr":"","en":"The risk of changes in value is not insignificant.","es":""}},{"id":"D","text":{"fr":"","en":"Equity shares in a subsidiary held for less than three months.","es":""},"correct":false,"feedback":{"fr":"","en":"The holding period is not enough.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000029","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000029","tested_point":"QST.IAS7.000029","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"definitions"},"references":["IAS 7 §8"],"exercise":{"prompt":{"fr":"","en":"Which indicator does the standard give of a bank overdraft that forms an integral part of cash management?","es":""},"explanation":{"fr":"","en":"Bank overdrafts repayable on demand that form an integral part of cash management are included in cash; a balance that often fluctuates from positive to overdrawn is an indicator (IAS 7, para. 8).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A bank balance that often fluctuates from being positive to overdrawn.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"An overdraft whose amount rises steadily from year to year and is never cleared.","es":""},"correct":false,"feedback":{"fr":"","en":"A lasting overdraft looks more like financing.","es":""}},{"id":"C","text":{"fr":"","en":"An overdraft with a five-year repayment schedule.","es":""},"correct":false,"feedback":{"fr":"","en":"A long schedule suggests a borrowing.","es":""}},{"id":"D","text":{"fr":"","en":"An overdraft secured by a mortgage on the factory.","es":""},"correct":false,"feedback":{"fr":"","en":"Security is not the indicator used by the standard.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000030","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000030","tested_point":"QST.IAS7.000030","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"definitions"},"references":["IAS 7 §46"],"exercise":{"prompt":{"fr":"","en":"Why must the entity disclose the policy it adopts in determining the composition of its cash and cash equivalents?","es":""},"explanation":{"fr":"","en":"Because cash management practices and banking arrangements vary widely, the entity discloses the policy it uses to decide what makes up cash and cash equivalents (IAS 7, para. 46). Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Because of the variety of cash management practices and banking arrangements.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Because the composition of cash is set by the tax legislation of each country.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard does not refer to taxation.","es":""}},{"id":"C","text":{"fr":"","en":"Because the composition must be identical for all entities in a sector.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard on the contrary recognises diverse practices.","es":""}},{"id":"D","text":{"fr":"","en":"Because only overdrafts are excluded from cash.","es":""},"correct":false,"feedback":{"fr":"","en":"This is not the reason for the disclosure.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000031","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000031","tested_point":"QST.IAS7.000031","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"definitions"},"references":["IAS 7 §6","IAS 7 §7"],"exercise":{"prompt":{"fr":"","en":"At 31 December, Lommira holds the following investments. Which of them can, in principle, be cash equivalents?","es":""},"explanation":{"fr":"","en":"A cash equivalent is a short-term, highly liquid investment convertible to a known amount with insignificant risk (IAS 7, para. 6); maturity is assessed at acquisition (about three months) and shares are normally excluded (IAS 7, para. 7).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Highly liquid listed shares of a large group.","es":""},"correct":false,"feedback":{"fr":"","en":"Excluded: risk of changes in value.","es":""}},{"id":"B","text":{"fr":"","en":"1-month commercial paper issued by a top-tier bank, bought on 20 December.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"A 6-month loan granted to a customer.","es":""},"correct":false,"feedback":{"fr":"","en":"A loan to a customer is not a short-term cash investment.","es":""}},{"id":"D","text":{"fr":"","en":"A 2-month term deposit taken out on 15 November, with no significant exit penalty.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"A 12-month treasury bill bought 10 months ago, maturing in 2 months.","es":""},"correct":false,"feedback":{"fr":"","en":"Maturity is assessed at acquisition (12 months).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000032","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000032","tested_point":"QST.IAS7.000032","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"definitions"},"references":["IAS 7 §8","IAS 7 §9"],"exercise":{"prompt":{"fr":"","en":"Which of the following statements about Calrane's cash are correct?","es":""},"explanation":{"fr":"","en":"Overdrafts repayable on demand that are part of cash management are included in cash, whereas bank borrowings are generally financing (IAS 7, para. 8); movements between components of cash are not cash flows (IAS 7, para. 9).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A three-year bank loan is a negative component of cash.","es":""},"correct":false,"feedback":{"fr":"","en":"Bank borrowings are generally financing.","es":""}},{"id":"B","text":{"fr":"","en":"A transfer from a current account to a one-month deposit qualifying as an equivalent is not a cash flow.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"A transfer from a current account to a 9-month deposit is an internal movement with no cash flow.","es":""},"correct":false,"feedback":{"fr":"","en":"The 9-month deposit is not an equivalent: the outflow is a cash flow.","es":""}},{"id":"D","text":{"fr":"","en":"Investing excess cash in cash equivalents is part of cash management.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"An overdraft repayable on demand, fluctuating around zero, may be deducted in cash.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000033","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000001","tested_point":"VG.IAS7.000001","difficulty":"BEGINNER","source":"V1","format":"NUMERICAL","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"definitions"},"references":["IAS 7 §6","IAS 7 §7"],"exercise":{"prompt":{"fr":"","en":"At 31 December, Saldral holds: cash on hand {cash_on_hand}; demand accounts {demand_deposits}; 2-month term deposit taken out on 1 December {short_deposit}; 6-month term deposit taken out on 1 November {long_deposit}; listed shares {listed_shares}. Compute closing cash and cash equivalents.","es":""},"explanation":{"fr":"","en":"Cash on hand and demand deposits are cash (IAS 7, para. 6); the 2-month deposit is an equivalent (short maturity at acquisition), the 6-month deposit and the shares are excluded (IAS 7, para. 7): 4,000 + 186,000 + 120,000 = 310,000.","es":""},"common_error":{"fr":"","en":"Including the 6-month deposit because it matures in 4 months.","es":""},"format":"CALCULATION","placeholders":[{"id":"cash_on_hand","value":"4000","unit":"EUR"},{"id":"demand_deposits","value":"186000","unit":"EUR"},{"id":"short_deposit","value":"120000","unit":"EUR"},{"id":"long_deposit","value":"250000","unit":"EUR"},{"id":"listed_shares","value":"75000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Cash on hand","es":""},"value":"4000","unit":"EUR"},{"label":{"fr":"","en":"Demand accounts","es":""},"value":"186000","unit":"EUR"},{"label":{"fr":"","en":"2-month term deposit","es":""},"value":"120000","unit":"EUR"},{"label":{"fr":"","en":"6-month term deposit","es":""},"value":"250000","unit":"EUR"},{"label":{"fr":"","en":"Listed shares","es":""},"value":"75000","unit":"EUR"}],"steps":[{"id":"CASH_AND_EQUIVALENTS","label":{"fr":"","en":"Closing cash and cash equivalents","es":""},"answer":310000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"CASH_AND_EQUIVALENTS","meaning":{"fr":"","en":"Closing cash and cash equivalents","es":""},"expression":"a + b + c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cash on hand","es":""},"value":4000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Demand accounts","es":""},"value":186000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"2-month term deposit","es":""},"value":120000,"unit":"EUR"}],"result":310000,"unit":"EUR","rationale":{"fr":"","en":"the 2-month deposit is an equivalent (short maturity at acquisition), the 6-month deposit and the shares are excluded (IAS 7, para. 7): 4,000 + 186,000 + 120,000 = 310,000.","es":""}}],"references":["REF.IAS7.6","REF.IAS7.7"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000034","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000001","tested_point":"VG.IAS7.000001","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"definitions"},"references":["IAS 7 §6","IAS 7 §7"],"exercise":{"prompt":{"fr":"","en":"Fenrel has a 30 June reporting date. At that date it holds: cash on hand {cash_on_hand}; demand deposits {demand_deposits}; 3-month certificate of deposit acquired on 10 June {short_deposit}; 5-year government bonds acquired 58 months ago {long_deposit}; equity fund units {listed_shares}. What is the amount of cash and cash equivalents?","es":""},"explanation":{"fr":"","en":"Cash on hand and demand deposits are cash (IAS 7, para. 6); the 3-month certificate is an equivalent; the 5-year bonds remain excluded even close to maturity (criterion assessed at acquisition), as do the equity fund units (IAS 7, para. 7): 2,500 + 341,500 + 90,000 = 434,000.","es":""},"common_error":{"fr":"","en":"Including the bonds because they have 2 months left.","es":""},"format":"CALCULATION","placeholders":[{"id":"cash_on_hand","value":"2500","unit":"EUR"},{"id":"demand_deposits","value":"341500","unit":"EUR"},{"id":"short_deposit","value":"90000","unit":"EUR"},{"id":"long_deposit","value":"160000","unit":"EUR"},{"id":"listed_shares","value":"48000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Cash on hand","es":""},"value":"2500","unit":"EUR"},{"label":{"fr":"","en":"Demand deposits","es":""},"value":"341500","unit":"EUR"},{"label":{"fr":"","en":"3-month certificate of deposit","es":""},"value":"90000","unit":"EUR"},{"label":{"fr":"","en":"5-year government bonds","es":""},"value":"160000","unit":"EUR"},{"label":{"fr":"","en":"Equity fund units","es":""},"value":"48000","unit":"EUR"}],"steps":[{"id":"CASH_AND_EQUIVALENTS","label":{"fr":"","en":"Cash and cash equivalents","es":""},"answer":434000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"CASH_AND_EQUIVALENTS","meaning":{"fr":"","en":"Cash and cash equivalents","es":""},"expression":"a + b + c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cash on hand","es":""},"value":2500,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Demand deposits","es":""},"value":341500,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"3-month certificate of deposit","es":""},"value":90000,"unit":"EUR"}],"result":434000,"unit":"EUR","rationale":{"fr":"","en":"the 5-year bonds remain excluded even close to maturity (criterion assessed at acquisition), as do the equity fund units (IAS 7, para. 7): 2,500 + 341,500 + 90,000 = 434,000.","es":""}}],"references":["REF.IAS7.6","REF.IAS7.7"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000035","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000035","tested_point":"QST.IAS7.000035","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"definitions"},"references":["IAS 7 §9"],"exercise":{"prompt":{"fr":"","en":"At Isvio, cash and cash equivalents amounted to {opening_cash} at the start of the year. During the year, Isvio transferred {internal_transfer} from its current account to a one-month deposit (a cash equivalent), generated net operating cash flows of {operating_net} and paid {capex} for a machine. Compute the net change in cash presented and closing cash.","es":""},"explanation":{"fr":"","en":"The transfer to an equivalent is not a cash flow (IAS 7, para. 9): net change = 388,000 − 264,000 = 124,000; closing = 215,000 + 124,000 = 339,000.","es":""},"common_error":{"fr":"","en":"Deducting the transfer as an outflow.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_cash","value":"215000","unit":"EUR"},{"id":"internal_transfer","value":"150000","unit":"EUR"},{"id":"operating_net","value":"388000","unit":"EUR"},{"id":"capex","value":"264000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Opening cash and cash equivalents","es":""},"value":"215000","unit":"EUR"},{"label":{"fr":"","en":"Transfer to a one-month deposit","es":""},"value":"150000","unit":"EUR"},{"label":{"fr":"","en":"Net operating cash flows","es":""},"value":"388000","unit":"EUR"},{"label":{"fr":"","en":"Payment for a machine","es":""},"value":"264000","unit":"EUR"}],"steps":[{"id":"NET_CHANGE","label":{"fr":"","en":"Net change in cash","es":""},"answer":124000,"tolerance":0,"unit":"EUR"},{"id":"CLOSING_CASH","label":{"fr":"","en":"Closing cash and cash equivalents","es":""},"answer":339000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"NET_CHANGE","meaning":{"fr":"","en":"Net change in cash","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Net operating cash flows","es":""},"value":388000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Payment for a machine","es":""},"value":264000,"unit":"EUR"}],"result":124000,"unit":"EUR"},{"step":"CLOSING_CASH","meaning":{"fr":"","en":"Closing cash and cash equivalents","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Opening cash and cash equivalents","es":""},"value":215000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Net change in cash","es":""},"value":124000,"unit":"EUR"}],"result":339000,"unit":"EUR"}],"rationale":{"fr":"","en":"The transfer to an equivalent is not a cash flow (IAS 7, para. 9): net change = 388,000 − 264,000 = 124,000","es":""},"references":["REF.IAS7.9"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000036","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000036","tested_point":"QST.IAS7.000036","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"definitions"},"references":["IAS 7 §8"],"exercise":{"prompt":{"fr":"","en":"At 31 December, Ulvelle reports: current accounts in credit {positive_accounts}; overdraft repayable on demand on its main account, which alternates every month between positive and overdrawn balances {fluctuating_overdraft}; overdraft on a second account, overdrawn without interruption for three years and renegotiated as a funding line {structural_overdraft} (case data). Compute closing cash and cash equivalents.","es":""},"explanation":{"fr":"","en":"The fluctuating overdraft forms an integral part of cash management and is deducted; the permanent overdraft, renegotiated as funding, is a borrowing (IAS 7, para. 8) (qualification based on the case data): 430,000 − 65,000 = 365,000.","es":""},"common_error":{"fr":"","en":"Deducting both overdrafts from cash.","es":""},"format":"CALCULATION","placeholders":[{"id":"positive_accounts","value":"430000","unit":"EUR"},{"id":"fluctuating_overdraft","value":"65000","unit":"EUR"},{"id":"structural_overdraft","value":"210000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Current accounts in credit","es":""},"value":"430000","unit":"EUR"},{"label":{"fr":"","en":"Fluctuating overdraft","es":""},"value":"65000","unit":"EUR"},{"label":{"fr":"","en":"Permanent overdraft","es":""},"value":"210000","unit":"EUR"}],"steps":[{"id":"CASH_AND_EQUIVALENTS","label":{"fr":"","en":"Closing cash and cash equivalents","es":""},"answer":365000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"CASH_AND_EQUIVALENTS","meaning":{"fr":"","en":"Closing cash and cash equivalents","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Current accounts in credit","es":""},"value":430000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Fluctuating overdraft","es":""},"value":65000,"unit":"EUR"}],"result":365000,"unit":"EUR","rationale":{"fr":"","en":"the permanent overdraft, renegotiated as funding, is a borrowing (IAS 7, para. 8) (qualification based on the case data): 430,000 − 65,000 = 365,000.","es":""}}],"references":["REF.IAS7.8"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000037","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000037","tested_point":"QST.IAS7.000037","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"definitions"},"references":["IAS 7 §7"],"exercise":{"prompt":{"fr":"","en":"Rostis classifies as a cash equivalent an 18-month savings certificate acquired 16 months ago, on the ground that it matures in 2 months. What is the error?","es":""},"explanation":{"fr":"","en":"An investment is normally a cash equivalent only if it has a maturity of about three months or less from the date of acquisition (IAS 7, para. 7); an instrument acquired with 18 months to run does not become one as it nears maturity.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"There is no error, the remaining maturity being under three months.","es":""},"correct":false,"feedback":{"fr":"","en":"That is precisely the error: remaining maturity is not the criterion.","es":""}},{"id":"B","text":{"fr":"","en":"The short maturity is assessed from the acquisition date, not at the reporting date.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"A savings certificate is never a liquid investment, whatever its original term.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard sets no outright exclusion for such instruments.","es":""}},{"id":"D","text":{"fr":"","en":"The certificate should have been classified as cash, not as an equivalent.","es":""},"correct":false,"feedback":{"fr":"","en":"Cash is limited to cash on hand and demand deposits.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000038","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000038","tested_point":"QST.IAS7.000038","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"definitions"},"references":["IAS 7 §8"],"exercise":{"prompt":{"fr":"","en":"Kerbane's overdraft, repayable on demand, is overdrawn on some days and positive on others, depending on customer receipts; it is used for day-to-day management. Kerbane nevertheless presents it as a borrowing and classifies its changes as financing cash flows. What is the error?","es":""},"explanation":{"fr":"","en":"Bank borrowings are generally financing, but overdrafts repayable on demand that are integral to cash management are included in cash, a balance fluctuating between positive and overdrawn being the indicator (IAS 7, para. 8).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"There is no error: an overdraft is always a borrowing.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard provides for certain overdrafts to be included in cash.","es":""}},{"id":"B","text":{"fr":"","en":"Changes in the overdraft should be classified as operating activities, as it funds the operating cycle.","es":""},"correct":false,"feedback":{"fr":"","en":"An overdraft included in cash generates no flow to classify.","es":""}},{"id":"C","text":{"fr":"","en":"This overdraft is part of cash management: it is included in cash, with no financing cash flows.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The overdraft should be offset against trade receivables.","es":""},"correct":false,"feedback":{"fr":"","en":"No such offsetting is provided for.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000039","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000039","tested_point":"QST.IAS7.000039","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"definitions"},"references":["IAS 7 §9"],"exercise":{"prompt":{"fr":"","en":"In its statement, Brabris presents an investing outflow “1-month placements” of 300,000 and an investing inflow “repayment of 1-month placements” of 300,000; these placements qualify as cash equivalents. What is the error?","es":""},"explanation":{"fr":"","en":"Movements between items of cash or cash equivalents are not cash flows: they are part of cash management (IAS 7, para. 9). They therefore appear neither gross nor net.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The two amounts should have been netted into one investing line.","es":""},"correct":false,"feedback":{"fr":"","en":"No line is to be presented, even net.","es":""}},{"id":"B","text":{"fr":"","en":"These movements are operating activities.","es":""},"correct":false,"feedback":{"fr":"","en":"They are not cash flows at all.","es":""}},{"id":"C","text":{"fr":"","en":"There is no error: gross presentation is required for all investing cash flows reported in the period.","es":""},"correct":false,"feedback":{"fr":"","en":"The gross rule only applies to actual cash flows.","es":""}},{"id":"D","text":{"fr":"","en":"Movements between cash and equivalents are not cash flows: they are left out of the statement.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000040","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000040","tested_point":"QST.IAS7.000040","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":170,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"definitions"},"references":["IAS 7 §6","IAS 7 §7"],"exercise":{"prompt":{"fr":"","en":"On 20 November, Salnore places 500,000 in a 3-month term account with its bank; early withdrawal is possible at any time, with a penalty limited to a few days of interest (case data). How should this placement be qualified at 31 December?","es":""},"explanation":{"fr":"","en":"The placement is short term, highly liquid, convertible to a known amount with insignificant risk (IAS 7, para. 6) and its maturity at acquisition is 3 months (IAS 7, para. 7): it qualifies as a cash equivalent (the small penalty is case data assessed by judgement).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Cash in the strict sense, because the funds are deposited with a bank.","es":""},"correct":false,"feedback":{"fr":"","en":"A term account is not a demand deposit.","es":""}},{"id":"B","text":{"fr":"","en":"Cash equivalent: short maturity at acquisition, known amount, insignificant risk.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Investing placement, because the exit penalty prevents any qualification.","es":""},"correct":false,"feedback":{"fr":"","en":"A limited penalty leaves the risk of changes in value insignificant.","es":""}},{"id":"D","text":{"fr":"","en":"Operating receivable, presented within the change in working capital.","es":""},"correct":false,"feedback":{"fr":"","en":"The placement is not an operating receivable.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000041","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"APPLICATION","context":"V1_VG.IAS7.000002","tested_point":"VG.IAS7.000002","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":170,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"definitions"},"references":["IAS 7 §8"],"exercise":{"prompt":{"fr":"","en":"Norzane's main account, repayable on demand, was in credit for eight months of the year and overdrawn for four months; it is overdrawn by 40,000 at the reporting date. How should it be presented?","es":""},"explanation":{"fr":"","en":"An overdraft repayable on demand that forms an integral part of cash management is included in cash; a balance that often moves from positive to overdrawn is the indicator (IAS 7, para. 8).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As a deduction from cash and cash equivalents, as an overdraft integral to cash management.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"As a borrowing, its appearance at year-end being a financing cash flow.","es":""},"correct":false,"feedback":{"fr":"","en":"The behaviour of the balance points to cash management.","es":""}},{"id":"C","text":{"fr":"","en":"As a trade payable, within the change in working capital.","es":""},"correct":false,"feedback":{"fr":"","en":"An overdraft is not a trade payable.","es":""}},{"id":"D","text":{"fr":"","en":"It is ignored in the reconciliation because it is below materiality.","es":""},"correct":false,"feedback":{"fr":"","en":"No case data allows it to be ignored.","es":""}}]},"scope":"CORE_STUDENT","reserve":true},{"key":"QST.IAS7.000042","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"APPLICATION","context":"V1_VG.IAS7.000002","tested_point":"VG.IAS7.000002","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"definitions"},"references":["IAS 7 §8"],"exercise":{"prompt":{"fr":"","en":"For four years Delquine has used a bank facility that is permanently overdrawn, around 900,000, to finance its inventories; the bank has attached an annual reduction schedule to it (case data). How should it be presented?","es":""},"explanation":{"fr":"","en":"Bank borrowings are generally financing activities; only overdrafts repayable on demand that are integral to cash management, whose balance often fluctuates, are included in cash (IAS 7, para. 8). Here, the case data describe lasting financing.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As a deduction from cash, every overdraft being a component of cash.","es":""},"correct":false,"feedback":{"fr":"","en":"Only overdrafts integral to cash management are.","es":""}},{"id":"B","text":{"fr":"","en":"As operating activities, since it finances inventories.","es":""},"correct":false,"feedback":{"fr":"","en":"The use of the funds does not determine the classification of a borrowing.","es":""}},{"id":"C","text":{"fr":"","en":"As a borrowing, its drawdowns and repayments being financing cash flows.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Off the statement of financial position, as a commitment given.","es":""},"correct":false,"feedback":{"fr":"","en":"The facility drawn is a liability.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000043","standard_id":"IAS7","concept_ids":["IAS7.DEFINITIONS.CASH_EQUIVALENTS"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000043","tested_point":"QST.IAS7.000043","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000003","section_id":"definitions"},"references":["IAS 7 §7"],"exercise":{"prompt":{"fr":"","en":"On 5 December, Vervora buys preferred shares of a top-tier issuer, redeemable on the following 15 January at a contractually fixed price (case data). How should they be qualified at 31 December?","es":""},"explanation":{"fr":"","en":"Shares are not cash equivalents unless their substance makes them so, for example preference shares bought close to a fixed redemption date (IAS 7, para. 7).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Excluded investment, every equity instrument being excluded from cash equivalents without exception.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard allows an in-substance exception.","es":""}},{"id":"B","text":{"fr":"","en":"Cash in the strict sense, redemption being certain.","es":""},"correct":false,"feedback":{"fr":"","en":"Cash is limited to cash on hand and demand deposits.","es":""}},{"id":"C","text":{"fr":"","en":"A cash equivalent in substance: acquired shortly before a specified redemption date.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Trading securities classified as operating activities.","es":""},"correct":false,"feedback":{"fr":"","en":"Nothing indicates they are held for trading.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000046","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000046","tested_point":"QST.IAS7.000046","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"three-activities"},"references":["IAS 7 §10"],"exercise":{"prompt":{"fr":"","en":"The statement of cash flows reports the cash flows of the period classified into three categories: operating, investing and financing activities.","es":""},"explanation":{"fr":"","en":"The statement of cash flows reports cash flows during the period classified by operating, investing and financing activities (IAS 7, para. 10).","es":""},"common_error":{"fr":"","en":"Adding an “exceptional” category that is not provided for.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000047","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000047","tested_point":"QST.IAS7.000047","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"three-activities"},"references":["IAS 7 §11"],"exercise":{"prompt":{"fr":"","en":"The entity presents its cash flows by activity in the manner most appropriate to its business, so that users can assess the impact of those activities on its financial position and on its cash.","es":""},"explanation":{"fr":"","en":"The entity presents its operating, investing and financing cash flows in the manner most appropriate to its business; this classification helps assess the impact of those activities on its financial position and cash (IAS 7, para. 11).","es":""},"common_error":{"fr":"","en":"Believing the format is fixed whatever the entity's business.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000048","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000048","tested_point":"QST.IAS7.000048","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"three-activities"},"references":["IAS 7 §12"],"exercise":{"prompt":{"fr":"","en":"When a loan instalment includes interest and capital, the entity must present the whole instalment as a single financing line.","es":""},"explanation":{"fr":"","en":"A single transaction may include cash flows that are classified differently: when a loan repayment includes interest and capital, the interest element may be classified as operating and the capital element is classified as financing (IAS 7, para. 12). Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Classifying a whole repayment including interest as financing.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000049","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000049","tested_point":"QST.IAS7.000049","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"three-activities"},"references":["IAS 7 §10"],"exercise":{"prompt":{"fr":"","en":"How many categories of activities does the statement of cash flows distinguish?","es":""},"explanation":{"fr":"","en":"The statement classifies the cash flows of the period into operating, investing and financing activities (IAS 7, para. 10).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Two: business flows and non-business flows, the latter grouping everything else.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard provides three separate categories.","es":""}},{"id":"B","text":{"fr":"","en":"Four: operating, investing, financing and exceptional items.","es":""},"correct":false,"feedback":{"fr":"","en":"There is no exceptional category.","es":""}},{"id":"C","text":{"fr":"","en":"Three: operating, investing, financing.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"As many as the entity's operating segments.","es":""},"correct":false,"feedback":{"fr":"","en":"Segments do not define the categories of the statement.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000050","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000050","tested_point":"QST.IAS7.000050","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"three-activities"},"references":["IAS 7 §11"],"exercise":{"prompt":{"fr":"","en":"What is the purpose of classifying cash flows by activity?","es":""},"explanation":{"fr":"","en":"Classifying cash flows by activity lets users judge how each activity affects the entity's financial position and its cash (IAS 7, para. 11).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"To determine the taxable profit of each activity and allocate the tax charge between categories.","es":""},"correct":false,"feedback":{"fr":"","en":"Classification has no tax purpose.","es":""}},{"id":"B","text":{"fr":"","en":"To replace segment information with a simpler split of cash flows.","es":""},"correct":false,"feedback":{"fr":"","en":"The statement does not replace segment information.","es":""}},{"id":"C","text":{"fr":"","en":"To justify the dividend proposed to shareholders.","es":""},"correct":false,"feedback":{"fr":"","en":"This is not the objective set by the standard.","es":""}},{"id":"D","text":{"fr":"","en":"To help assess the impact of each activity on the financial position and cash.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000051","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000051","tested_point":"QST.IAS7.000051","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"three-activities"},"references":["IAS 7 §12"],"exercise":{"prompt":{"fr":"","en":"Fenmée pays a loan instalment comprising capital and interest; its policy is to classify interest paid as operating activities (case data). How should the instalment be presented?","es":""},"explanation":{"fr":"","en":"A single transaction may include cash flows classified differently: the interest element may be classified as operating and the capital element as financing (IAS 7, para. 12); interest follows the entity's policy. Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Interest as operating, capital as financing.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The whole instalment as financing, since it is the entity's own borrowing.","es":""},"correct":false,"feedback":{"fr":"","en":"Interest follows the entity's policy here.","es":""}},{"id":"C","text":{"fr":"","en":"The whole instalment as operating, the capital having funded the operating cycle.","es":""},"correct":false,"feedback":{"fr":"","en":"Capital repaid is financing.","es":""}},{"id":"D","text":{"fr":"","en":"Capital as investing, interest as financing.","es":""},"correct":false,"feedback":{"fr":"","en":"Repaying borrowed capital is not investing.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000052","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000052","tested_point":"QST.IAS7.000052","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"three-activities"},"references":["IAS 7 §10"],"exercise":{"prompt":{"fr":"","en":"Queltis's statement shows: operating cash flows +620,000, investing cash flows −410,000, financing cash flows −95,000. What does the sum of these three subtotals represent?","es":""},"explanation":{"fr":"","en":"The statement classifies cash flows into three activities (IAS 7, para. 10) whose algebraic sum gives the net change in cash: 620,000 − 410,000 − 95,000 = 115,000.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Profit for the period, which amounts to 115,000.","es":""},"correct":false,"feedback":{"fr":"","en":"The sum of the flows is not profit.","es":""}},{"id":"B","text":{"fr":"","en":"The net change in cash and cash equivalents, i.e. +115,000 before any exchange rate effect.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Queltis’s closing cash, which would amount to 1,125,000 when adding the amounts in absolute value.","es":""},"correct":false,"feedback":{"fr":"","en":"Sign error: outflows are deducted.","es":""}},{"id":"D","text":{"fr":"","en":"Self-financing capacity, i.e. 210,000 excluding financing.","es":""},"correct":false,"feedback":{"fr":"","en":"This indicator is not defined by the standard.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000053","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000053","tested_point":"QST.IAS7.000053","difficulty":"BEGINNER","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"three-activities"},"references":["IAS 7 §10","IAS 7 §11"],"exercise":{"prompt":{"fr":"","en":"Which of the following statements about the structure of the statement are correct?","es":""},"explanation":{"fr":"","en":"The statement reports cash flows classified into three activities (IAS 7, para. 10), in the manner most appropriate to the entity's business, to assess their impact on the financial position and cash (IAS 7, para. 11).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The presentation is tailored to the entity's business.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Classification helps assess the impact of activities on the financial position.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"A single statement template is imposed on all entities, line by line.","es":""},"correct":false,"feedback":{"fr":"","en":"The presentation is the one most appropriate to the business.","es":""}},{"id":"D","text":{"fr":"","en":"The flows of each activity are presented as one net line.","es":""},"correct":false,"feedback":{"fr":"","en":"The statement details the flows of each activity.","es":""}},{"id":"E","text":{"fr":"","en":"Cash flows are classified as operating, investing and financing activities.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000054","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000054","tested_point":"QST.IAS7.000054","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"three-activities"},"references":["IAS 7 §12"],"exercise":{"prompt":{"fr":"","en":"Which of these transactions of Ostnore may give rise to flows classified in different activities within a single transaction?","es":""},"explanation":{"fr":"","en":"A single transaction may include cash flows classified differently, such as a loan repayment including interest and capital (IAS 7, para. 12); a lease payment is split in the same way between principal and interest. Wording before IFRS 18.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Settlement of an invoice from a supplier of goods.","es":""},"correct":false,"feedback":{"fr":"","en":"Single operating flow.","es":""}},{"id":"B","text":{"fr":"","en":"A bank loan instalment comprising capital and interest.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"A lease payment comprising a principal element and an interest element.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The monthly payment of wages.","es":""},"correct":false,"feedback":{"fr":"","en":"Single operating flow.","es":""}},{"id":"E","text":{"fr":"","en":"Receipt from a cash sale.","es":""},"correct":false,"feedback":{"fr":"","en":"Single operating flow.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000055","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000055","tested_point":"QST.IAS7.000055","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"three-activities"},"references":["IAS 7 §10","IAS 7 §12"],"exercise":{"prompt":{"fr":"","en":"Galdine's draft statement shows the following possible errors. Which are genuine errors?","es":""},"explanation":{"fr":"","en":"The statement classifies cash flows into three activities whose algebraic sum gives the change in cash (IAS 7, para. 10); a mixed instalment is split between interest (per the chosen policy) and capital (financing) (IAS 7, para. 12). Wording before IFRS 18.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The interest element of a loan instalment was classified as operating under the entity's policy.","es":""},"correct":false,"feedback":{"fr":"","en":"Permitted classification: not an error.","es":""}},{"id":"B","text":{"fr":"","en":"An instalment including interest was classified wholly as financing although the entity's policy places interest in operating.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Cash flows were grouped into three activities.","es":""},"correct":false,"feedback":{"fr":"","en":"This is the very principle of the statement.","es":""}},{"id":"D","text":{"fr":"","en":"Negative investing flows were added instead of deducted in the net change.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000056","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000003","tested_point":"VG.IAS7.000003","difficulty":"BEGINNER","source":"V1","format":"NUMERICAL","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"three-activities"},"references":["IAS 7 §10"],"exercise":{"prompt":{"fr":"","en":"Arquine's statement shows operating cash flows of {operating} (net inflow), investing cash flows of {investing} (net outflow) and financing cash flows of {financing} (net inflow). Opening cash was {opening}. Compute the net change and closing cash.","es":""},"explanation":{"fr":"","en":"The three activities (IAS 7, para. 10) add up algebraically: 347,000 − 512,000 + 230,000 = 65,000; closing: 88,000 + 65,000 = 153,000.","es":""},"common_error":{"fr":"","en":"Adding the three amounts regardless of direction.","es":""},"format":"CALCULATION","placeholders":[{"id":"operating","value":"347000","unit":"EUR"},{"id":"investing","value":"512000","unit":"EUR"},{"id":"financing","value":"230000","unit":"EUR"},{"id":"opening","value":"88000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Net operating cash flows","es":""},"value":"347000","unit":"EUR"},{"label":{"fr":"","en":"Net investing cash flows (outflow)","es":""},"value":"512000","unit":"EUR"},{"label":{"fr":"","en":"Net financing cash flows","es":""},"value":"230000","unit":"EUR"},{"label":{"fr":"","en":"Opening cash","es":""},"value":"88000","unit":"EUR"}],"steps":[{"id":"NET_CHANGE","label":{"fr":"","en":"Net change in cash","es":""},"answer":65000,"tolerance":0,"unit":"EUR"},{"id":"CLOSING","label":{"fr":"","en":"Closing cash","es":""},"answer":153000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"NET_CHANGE","meaning":{"fr":"","en":"Net change in cash","es":""},"expression":"a - b + c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Net operating cash flows","es":""},"value":347000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Net investing cash flows (outflow)","es":""},"value":512000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Net financing cash flows","es":""},"value":230000,"unit":"EUR"}],"result":65000,"unit":"EUR"},{"step":"CLOSING","meaning":{"fr":"","en":"Closing cash","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Opening cash","es":""},"value":88000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Net change in cash","es":""},"value":65000,"unit":"EUR"}],"result":153000,"unit":"EUR"}],"rationale":{"fr":"","en":"The three activities (IAS 7, para. 10) add up algebraically: 347,000 − 512,000 + 230,000 = 65,000","es":""},"references":["REF.IAS7.10"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000057","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000003","tested_point":"VG.IAS7.000003","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"three-activities"},"references":["IAS 7 §10"],"exercise":{"prompt":{"fr":"","en":"A difficult year for Talquine: its operating activities used {operating} of cash, its asset disposals generated a net investing inflow of {investing}, and it repaid borrowings for a net financing outflow of {financing}. Its opening cash was {opening}. Determine the net change for the period and end-of-period cash.","es":""},"explanation":{"fr":"","en":"Algebraic sum of the three activities (IAS 7, para. 10): −126,000 + 94,000 − 58,000 = −90,000; end-of-period cash: 301,000 + (−90,000) = 211,000.","es":""},"common_error":{"fr":"","en":"Treating cash used as an inflow.","es":""},"format":"CALCULATION","placeholders":[{"id":"operating","value":"126000","unit":"EUR"},{"id":"investing","value":"94000","unit":"EUR"},{"id":"financing","value":"58000","unit":"EUR"},{"id":"opening","value":"301000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Cash used in operating activities","es":""},"value":"126000","unit":"EUR"},{"label":{"fr":"","en":"Net investing inflow","es":""},"value":"94000","unit":"EUR"},{"label":{"fr":"","en":"Net financing outflow","es":""},"value":"58000","unit":"EUR"},{"label":{"fr":"","en":"Opening cash","es":""},"value":"301000","unit":"EUR"}],"steps":[{"id":"NET_CHANGE","label":{"fr":"","en":"Net change (negative if a decrease)","es":""},"answer":-90000,"tolerance":0,"unit":"EUR"},{"id":"CLOSING","label":{"fr":"","en":"End-of-period cash","es":""},"answer":211000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"NET_CHANGE","meaning":{"fr":"","en":"Net change (negative if a decrease)","es":""},"expression":"-a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cash used in operating activities","es":""},"value":126000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Net investing inflow","es":""},"value":94000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Net financing outflow","es":""},"value":58000,"unit":"EUR"}],"result":-90000,"unit":"EUR"}],"rationale":{"fr":"","en":"Algebraic sum of the three activities (IAS 7, para. 10): −126,000 + 94,000 − 58,000 = −90,000","es":""},"references":["REF.IAS7.10"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000058","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000004","tested_point":"VG.IAS7.000004","difficulty":"BEGINNER","source":"V1","format":"NUMERICAL","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"three-activities"},"references":["IAS 7 §12"],"exercise":{"prompt":{"fr":"","en":"Zelrel pays a loan instalment of {instalment}, of which {interest_part} is interest. Its policy classifies interest paid as operating activities (case data). Compute the amounts to present in operating and in financing.","es":""},"explanation":{"fr":"","en":"The interest element may be classified as operating and the capital element is classified as financing (IAS 7, para. 12): operating 13,500; financing 84,000 − 13,500 = 70,500. Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Presenting the whole instalment as financing.","es":""},"format":"CALCULATION","placeholders":[{"id":"instalment","value":"84000","unit":"EUR"},{"id":"interest_part","value":"13500","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Instalment paid","es":""},"value":"84000","unit":"EUR"},{"label":{"fr":"","en":"Interest element","es":""},"value":"13500","unit":"EUR"}],"steps":[{"id":"OPERATING_OUTFLOW","label":{"fr":"","en":"Operating outflow","es":""},"answer":13500,"tolerance":0,"unit":"EUR"},{"id":"FINANCING_OUTFLOW","label":{"fr":"","en":"Financing outflow","es":""},"answer":70500,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"FINANCING_OUTFLOW","meaning":{"fr":"","en":"Financing outflow","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Instalment paid","es":""},"value":84000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Interest element","es":""},"value":13500,"unit":"EUR"}],"result":70500,"unit":"EUR"}],"references":["REF.IAS7.12"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000059","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000004","tested_point":"VG.IAS7.000004","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"three-activities"},"references":["IAS 7 §12"],"exercise":{"prompt":{"fr":"","en":"Fenlisse owes {opening_principal} at the start of the year on a loan at an annual rate of {rate}; at year-end it pays an annuity of {instalment} covering the year’s interest and part of the capital. Interest paid is classified as operating under its policy (case data). Determine the operating and financing parts of the annuity.","es":""},"explanation":{"fr":"","en":"Interest: 600,000 × 4.5% = 27,000, classified under the entity's policy; capital: 115,000 − 27,000 = 88,000, classified as financing (IAS 7, para. 12). Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Classifying the whole annuity as financing.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_principal","value":"600000","unit":"EUR"},{"id":"rate","value":"4.5","unit":"PERCENT"},{"id":"instalment","value":"115000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Principal owed at the start","es":""},"value":"600000","unit":"EUR"},{"label":{"fr":"","en":"Annual interest rate","es":""},"value":"4.5","unit":"PERCENT"},{"label":{"fr":"","en":"Annuity paid","es":""},"value":"115000","unit":"EUR"}],"steps":[{"id":"OPERATING_OUTFLOW","label":{"fr":"","en":"Operating part (interest)","es":""},"answer":27000,"tolerance":0,"unit":"EUR"},{"id":"FINANCING_OUTFLOW","label":{"fr":"","en":"Financing part (capital)","es":""},"answer":88000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"OPERATING_OUTFLOW","meaning":{"fr":"","en":"Operating part (interest)","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Principal owed at the start","es":""},"value":600000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Annual interest rate","es":""},"value":4.5,"unit":"PERCENT"}],"result":27000,"unit":"EUR"},{"step":"FINANCING_OUTFLOW","meaning":{"fr":"","en":"Financing part (capital)","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Annuity paid","es":""},"value":115000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Operating part (interest)","es":""},"value":27000,"unit":"EUR"}],"result":88000,"unit":"EUR"}],"references":["REF.IAS7.12"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000060","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000060","tested_point":"QST.IAS7.000060","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"three-activities"},"references":["IAS 7 §10"],"exercise":{"prompt":{"fr":"","en":"Peltara's accountant computes the change in cash as: operating 410,000 + investing 290,000 + financing 75,000 = 775,000, although investing is a net outflow and financing a net inflow. What is the error?","es":""},"explanation":{"fr":"","en":"Cash flows are classified into three activities (IAS 7, para. 10) whose algebraic sum forms the change: 410,000 − 290,000 + 75,000 = 195,000.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Financing must be deducted: the change is 625,000.","es":""},"correct":false,"feedback":{"fr":"","en":"Financing is an inflow here.","es":""}},{"id":"B","text":{"fr":"","en":"There is no error; the three subtotals always add up.","es":""},"correct":false,"feedback":{"fr":"","en":"They add up algebraically, with their sign.","es":""}},{"id":"C","text":{"fr":"","en":"Investing must not enter the change in cash.","es":""},"correct":false,"feedback":{"fr":"","en":"All three activities make up the change.","es":""}},{"id":"D","text":{"fr":"","en":"The net investing outflow must be deducted: the change is 195,000.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000061","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000061","tested_point":"QST.IAS7.000061","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"three-activities"},"references":["IAS 7 §12"],"exercise":{"prompt":{"fr":"","en":"Fenmira, which classifies interest paid as operating (case data), presents in financing a line “repayment of borrowings 250,000”, of which 40,000 is interest. What is the error?","es":""},"explanation":{"fr":"","en":"In a repayment including interest and capital, the interest element may be classified as operating and the capital element as financing (IAS 7, para. 12): here 40,000 in operating (entity policy) and 210,000 in financing. Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The line should have been presented as investing.","es":""},"correct":false,"feedback":{"fr":"","en":"Repaying the entity's borrowing is not investing.","es":""}},{"id":"B","text":{"fr":"","en":"There is no error: interest always follows the capital.","es":""},"correct":false,"feedback":{"fr":"","en":"A single transaction may be split.","es":""}},{"id":"C","text":{"fr":"","en":"The 40,000 of interest goes to operating under the entity's policy; 210,000 to financing.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Interest should have been excluded from the statement, being merely a finance expense recognised in profit or loss.","es":""},"correct":false,"feedback":{"fr":"","en":"Interest paid is a cash outflow.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000062","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.PRESENTATION_PRINCIPLE"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000062","tested_point":"QST.IAS7.000062","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000004","section_id":"three-activities"},"references":["IAS 7 §10","IAS 7 §11"],"exercise":{"prompt":{"fr":"","en":"Tirvane's statement includes a fourth heading “miscellaneous cash flows” grouping a loan granted, a loan repayment and an insurance settlement on inventory. What is the error?","es":""},"explanation":{"fr":"","en":"The statement classifies cash flows into operating, investing and financing activities (IAS 7, para. 10) so that the impact of each activity can be assessed (IAS 7, para. 11); a catch-all heading defeats this.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The “miscellaneous” heading must be presented outside the statement, in the notes, with the detail of each flow.","es":""},"correct":false,"feedback":{"fr":"","en":"These flows must appear in the statement, classified.","es":""}},{"id":"B","text":{"fr":"","en":"Each flow belongs to one of the three activities: investing, financing, operating.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The heading is allowed if its amount is below 5% of total flows.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard sets no such threshold.","es":""}},{"id":"D","text":{"fr":"","en":"The three flows should be netted into one financing line.","es":""},"correct":false,"feedback":{"fr":"","en":"Neither netting nor single financing classification.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000063","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000063","tested_point":"QST.IAS7.000063","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"indicator"},"references":["IAS 7 §14"],"exercise":{"prompt":{"fr":"","en":"Payments to suppliers for goods and services and payments to employees are operating cash flows.","es":""},"explanation":{"fr":"","en":"Cash payments to suppliers for goods and services and cash payments to and on behalf of employees are examples of operating cash flows (IAS 7, para. 14).","es":""},"common_error":{"fr":"","en":"Classifying production wages as investing.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000064","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000064","tested_point":"QST.IAS7.000064","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"indicator"},"references":["IAS 7 §14"],"exercise":{"prompt":{"fr":"","en":"Because the gain on the sale of an item of plant is included in profit or loss, the receipt of the sale price is an operating cash flow.","es":""},"explanation":{"fr":"","en":"Some transactions, such as the sale of an item of plant, give rise to a gain or loss included in profit or loss, but the related cash flows are investing (IAS 7, para. 14).","es":""},"common_error":{"fr":"","en":"Leaving the disposal proceeds in operating cash flows.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000065","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000065","tested_point":"QST.IAS7.000065","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"indicator"},"references":["IAS 7 §15"],"exercise":{"prompt":{"fr":"","en":"For a securities dealer, purchases and sales of securities held for dealing or trading are classified as investing activities.","es":""},"explanation":{"fr":"","en":"Securities and loans held for dealing or trading purposes are similar to inventory acquired specifically for resale: cash flows from their purchase and sale are operating (IAS 7, para. 15).","es":""},"common_error":{"fr":"","en":"Classifying every purchase of securities as investing.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000066","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000066","tested_point":"QST.IAS7.000066","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"indicator"},"references":["IAS 7 §14"],"exercise":{"prompt":{"fr":"","en":"Which of these flows is an example of an operating cash flow?","es":""},"explanation":{"fr":"","en":"Cash receipts from royalties, fees, commissions and other revenue are among the examples of operating cash flows (IAS 7, para. 14).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Receipts from royalties, fees and commissions.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Receipt from issuing a ten-year bond.","es":""},"correct":false,"feedback":{"fr":"","en":"Financing flow.","es":""}},{"id":"C","text":{"fr":"","en":"Payment to acquire a patent recognised as an asset.","es":""},"correct":false,"feedback":{"fr":"","en":"Investing flow.","es":""}},{"id":"D","text":{"fr":"","en":"The entity's buy-back of its own shares.","es":""},"correct":false,"feedback":{"fr":"","en":"Financing flow.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000067","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000067","tested_point":"QST.IAS7.000067","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"indicator"},"references":["IAS 7 §14"],"exercise":{"prompt":{"fr":"","en":"Brislane rents out vehicles short term and then sells them after two years in the ordinary course of business (IAS 16 para. 68A, context data). How should the payment to buy the vehicles be classified?","es":""},"explanation":{"fr":"","en":"The cost of making or buying assets that are first rented out and then sold (assets covered by the cross-reference in IAS 7 to IAS 16, para. 68A, context data), and the rentals and subsequent sale proceeds of such assets, are operating cash flows (IAS 7, para. 14).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As operating activities, as are the rentals and the resale proceeds.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"As investing activities, since the vehicles are first recognised as property, plant and equipment.","es":""},"correct":false,"feedback":{"fr":"","en":"This is the error the specific rule targets.","es":""}},{"id":"C","text":{"fr":"","en":"As financing activities, the vehicles being rented to third parties.","es":""},"correct":false,"feedback":{"fr":"","en":"Renting to third parties is not the entity's financing.","es":""}},{"id":"D","text":{"fr":"","en":"Outside the statement, as it is merely a transfer to inventories.","es":""},"correct":false,"feedback":{"fr":"","en":"The purchase is a real cash outflow.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000068","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000068","tested_point":"QST.IAS7.000068","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"indicator"},"references":["IAS 7 §14"],"exercise":{"prompt":{"fr":"","en":"Which classification does the standard give to receipts and payments on contracts held for dealing or trading purposes?","es":""},"explanation":{"fr":"","en":"Receipts and payments on contracts held for dealing or trading appear among the examples of operating cash flows (IAS 7, para. 14).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Investing activities, like every derivative held by the entity.","es":""},"correct":false,"feedback":{"fr":"","en":"Trading contracts are operating.","es":""}},{"id":"B","text":{"fr":"","en":"Operating activities.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Financing activities, because these contracts are financial in nature.","es":""},"correct":false,"feedback":{"fr":"","en":"Financial nature is not enough to classify as financing.","es":""}},{"id":"D","text":{"fr":"","en":"At the entity's free choice, with no consistency requirement.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard indicates operating classification.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000069","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000069","tested_point":"QST.IAS7.000069","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"indicator"},"references":["IAS 7 §13"],"exercise":{"prompt":{"fr":"","en":"Why is the amount of operating cash flows regarded as a key indicator?","es":""},"explanation":{"fr":"","en":"Operating cash flows indicate the extent to which operations have generated sufficient cash to repay loans, maintain operating capability, pay dividends and make new investments without external financing (IAS 7, para. 13).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It replaces profit as the performance measure and is used as the basis for computing tax and employee profit sharing.","es":""},"correct":false,"feedback":{"fr":"","en":"It complements profit without replacing it.","es":""}},{"id":"B","text":{"fr":"","en":"It sets the legal ceiling for distributable dividends.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard does not govern distributions.","es":""}},{"id":"C","text":{"fr":"","en":"It shows whether operations generated enough cash to repay, maintain capacity, pay dividends and invest.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"It measures the market value of the entity.","es":""},"correct":false,"feedback":{"fr":"","en":"The statement gives no market value.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000070","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000070","tested_point":"QST.IAS7.000070","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"indicator"},"references":["IAS 7 §14"],"exercise":{"prompt":{"fr":"","en":"Which of these flows of Zelquine are operating cash flows?","es":""},"explanation":{"fr":"","en":"Service receipts, payments on behalf of employees and income taxes that cannot be specifically identified are examples of operating cash flows; the disposal flow of an asset, despite the gain in profit, is investing (IAS 7, para. 14).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Receipts from the rendering of services.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Payment of social contributions on behalf of employees.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Purchase of software recognised as an intangible asset.","es":""},"correct":false,"feedback":{"fr":"","en":"Long-term asset: investing.","es":""}},{"id":"D","text":{"fr":"","en":"Payment of income tax that cannot be linked to a specific transaction.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Receipt of the sale price of a warehouse, giving a gain.","es":""},"correct":false,"feedback":{"fr":"","en":"Disposal flow: investing.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000071","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000071","tested_point":"QST.IAS7.000071","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"indicator"},"references":["IAS 7 §14","IAS 7 §15"],"exercise":{"prompt":{"fr":"","en":"Which of these flows of Velmira, an investment bank, are operating?","es":""},"explanation":{"fr":"","en":"Securities and loans held for trading are similar to inventory: their flows are operating (IAS 7, para. 15), as are the flows of contracts held for trading (IAS 7, para. 14).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Loans held for trading and sold on the market.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Purchase of a building for its headquarters.","es":""},"correct":false,"feedback":{"fr":"","en":"Long-term asset: investing.","es":""}},{"id":"C","text":{"fr":"","en":"Receipts and payments on trading derivative contracts.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Issue of its own subordinated bonds.","es":""},"correct":false,"feedback":{"fr":"","en":"The bank's financing.","es":""}},{"id":"E","text":{"fr":"","en":"Purchases of bonds held in its trading book.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000072","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000072","tested_point":"QST.IAS7.000072","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"indicator"},"references":["IAS 7 §6","IAS 7 §14"],"exercise":{"prompt":{"fr":"","en":"Saltara, a wholesaler, is considering the following classifications. Which are compliant?","es":""},"explanation":{"fr":"","en":"The definition of operating activities is residual (IAS 7, para. 6); commissions and ordinary business flows are operating, whereas disposal flows of long-term assets are investing despite the gain in profit (IAS 7, para. 14). The buy-back of own shares changes contributed equity: financing.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Settlement received for damage to inventory: operating.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Proceeds from selling a delivery truck: operating, as the truck served sales.","es":""},"correct":false,"feedback":{"fr":"","en":"Proceeds from selling a long-term asset are investing.","es":""}},{"id":"C","text":{"fr":"","en":"Payment of a tax penalty unrelated to income tax: operating.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Buy-back of its own shares by Saltara: operating, as it supports the share price.","es":""},"correct":false,"feedback":{"fr":"","en":"A buy-back of own shares is financing.","es":""}},{"id":"E","text":{"fr":"","en":"Receipt of commissions on sales on behalf of third parties: operating.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000073","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000073","tested_point":"QST.IAS7.000073","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"indicator"},"references":["IAS 7 §14"],"exercise":{"prompt":{"fr":"","en":"Orlisse sells a machine for 70,000 (gain of 25,000) and presents 70,000 in its operating cash flows, on the ground that the gain is in its operating profit. What is the error?","es":""},"explanation":{"fr":"","en":"The sale of an item of plant gives a gain included in profit or loss, but the related cash flows are investing (IAS 7, para. 14): 70,000 in investing.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Only the 25,000 gain should have been presented as operating.","es":""},"correct":false,"feedback":{"fr":"","en":"The gain is not a cash flow; the price received is investing.","es":""}},{"id":"B","text":{"fr":"","en":"It should have presented 45,000 as investing and 25,000 as operating, to follow the gain's share of the price.","es":""},"correct":false,"feedback":{"fr":"","en":"The disposal flow is not split between activities.","es":""}},{"id":"C","text":{"fr":"","en":"There is no error; the gain justifies the classification.","es":""},"correct":false,"feedback":{"fr":"","en":"This is the classic error targeted by the standard.","es":""}},{"id":"D","text":{"fr":"","en":"The 70,000 disposal flow is investing, wherever the gain appears in profit or loss.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000074","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000074","tested_point":"QST.IAS7.000074","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"indicator"},"references":["IAS 7 §14"],"exercise":{"prompt":{"fr":"","en":"Calquine manufactures equipment that it rents out for three years and then sells in the ordinary course of business (IAS 16 para. 68A, context data). It presents manufacturing costs as investing and resale proceeds as investing. What is the error?","es":""},"explanation":{"fr":"","en":"Payments to manufacture or acquire assets held for rental and subsequently for sale, and the rentals and sale proceeds of such assets, are operating cash flows (IAS 7, para. 14).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Only resale proceeds should have been presented as operating; manufacturing costs remain investing.","es":""},"correct":false,"feedback":{"fr":"","en":"The rule also covers manufacturing payments.","es":""}},{"id":"B","text":{"fr":"","en":"Payments to manufacture and resale proceeds of these assets are operating cash flows.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Rentals received should have been presented as financing.","es":""},"correct":false,"feedback":{"fr":"","en":"Rentals from these assets are operating.","es":""}},{"id":"D","text":{"fr":"","en":"There is no error: leased-out assets are fixed assets.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard provides a specific rule for this model.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000075","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000075","tested_point":"QST.IAS7.000075","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"indicator"},"references":["IAS 7 §15"],"exercise":{"prompt":{"fr":"","en":"Fiorquine, a securities broker-dealer, classifies as investing the purchases of securities in its trading book, which are resold within a few days. What is the error?","es":""},"explanation":{"fr":"","en":"Securities held for dealing or trading are similar to inventory acquired for resale: cash flows from their purchase and sale are operating (IAS 7, para. 15).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"These securities, similar to inventory, generate operating cash flows.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Purchases of securities are always financing.","es":""},"correct":false,"feedback":{"fr":"","en":"These are not resources obtained by the entity.","es":""}},{"id":"C","text":{"fr":"","en":"There is no error, every investment in securities being investing.","es":""},"correct":false,"feedback":{"fr":"","en":"Trading securities are an exception.","es":""}},{"id":"D","text":{"fr":"","en":"These securities are cash equivalents, with no flow to present.","es":""},"correct":false,"feedback":{"fr":"","en":"Trading securities are not cash equivalents.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000076","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"APPLICATION","context":"V1_VG.IAS7.000005","tested_point":"VG.IAS7.000005","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":170,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"indicator"},"references":["IAS 7 §14"],"exercise":{"prompt":{"fr":"","en":"Rosmira, a haulier, receives 180,000 from its insurer for a truck destroyed in an accident; the truck was an item of property, plant and equipment used for deliveries (case data). Which classification is most defensible for this settlement?","es":""},"explanation":{"fr":"","en":"The standard does not expressly address insurance settlements. Cash flows related to the derecognition of a long-term asset are investing, even when a gain or loss is included in profit (IAS 7, para. 14); linking the settlement to that derecognition is a judgement to document, and the mere use of the asset in operations does not justify an operating classification.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Operating, solely because the truck was used for the day-to-day deliveries of the transport business.","es":""},"correct":false,"feedback":{"fr":"","en":"Using the asset in operations does not make the flow on its derecognition operating.","es":""}},{"id":"B","text":{"fr":"","en":"Financing, because the insurer provides funds.","es":""},"correct":false,"feedback":{"fr":"","en":"Neither equity nor borrowing.","es":""}},{"id":"C","text":{"fr":"","en":"Outside the statement, as there is no legal sale.","es":""},"correct":false,"feedback":{"fr":"","en":"The receipt is a cash flow.","es":""}},{"id":"D","text":{"fr":"","en":"Investing: the settlement replaces the disposal proceeds of a long-term asset (documented judgement).","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000077","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"APPLICATION","context":"V1_VG.IAS7.000005","tested_point":"VG.IAS7.000005","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"indicator"},"references":["IAS 7 §14"],"exercise":{"prompt":{"fr":"","en":"Ostlisse rents forklifts to its customers for four years and then systematically sells them on the second-hand market, which is part of its ordinary activities (IAS 16 para. 68A, context data). How should the price received on reselling a batch of forklifts be classified?","es":""},"explanation":{"fr":"","en":"Payments to acquire assets held for rental and subsequently for sale, and the rentals and subsequent sale proceeds, are operating cash flows (IAS 7, para. 14).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Investing, like any disposal of property, plant and equipment.","es":""},"correct":false,"feedback":{"fr":"","en":"The specific rule prevails here.","es":""}},{"id":"B","text":{"fr":"","en":"Operating, like the rentals and the payments to acquire these forklifts.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Financing, the resale proceeds serving to repay the fleet loans.","es":""},"correct":false,"feedback":{"fr":"","en":"The use of the funds does not determine classification.","es":""}},{"id":"D","text":{"fr":"","en":"Operating for the gain only, the rest as investing.","es":""},"correct":false,"feedback":{"fr":"","en":"The flow is not split this way.","es":""}}]},"scope":"CORE_STUDENT","reserve":true},{"key":"QST.IAS7.000078","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.OPERATING_ACTIVITIES"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000078","tested_point":"QST.IAS7.000078","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000005","section_id":"indicator"},"references":["IAS 7 §14","IAS 7 §15"],"exercise":{"prompt":{"fr":"","en":"Sortara, an industrial group, holds two bond portfolios: the first is actively managed to make short-term trading gains, the second is held to maturity to invest lasting surpluses (case data). How should purchases in each portfolio be classified?","es":""},"explanation":{"fr":"","en":"Securities held for trading are similar to inventory and their flows are operating (IAS 7, para. 15); acquiring debt instruments of other entities held long term is investing (IAS 7, para. 14). The purpose of holding is case data.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Both portfolios as investing, being bonds of other entities.","es":""},"correct":false,"feedback":{"fr":"","en":"Trading securities are an exception.","es":""}},{"id":"B","text":{"fr":"","en":"Both portfolios as operating, every investment serving operations.","es":""},"correct":false,"feedback":{"fr":"","en":"The long-term holding is investing.","es":""}},{"id":"C","text":{"fr":"","en":"First portfolio as operating, second as investing.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"First portfolio as financing, second as investing.","es":""},"correct":false,"feedback":{"fr":"","en":"The trading portfolio is not financing.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000081","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000081","tested_point":"QST.IAS7.000081","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"recognised-asset"},"references":["IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"Only spending that leads to an asset recognised in the statement of financial position can be classified as investing activities.","es":""},"explanation":{"fr":"","en":"Only spending that leads to an asset recognised in the statement of financial position can be classified as investing activities (IAS 7, para. 16).","es":""},"common_error":{"fr":"","en":"Classifying expensed research costs as investing.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000082","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000082","tested_point":"QST.IAS7.000082","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"recognised-asset"},"references":["IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"Payments relating to capitalised development costs and to self-constructed property, plant and equipment can be classified as investing activities.","es":""},"explanation":{"fr":"","en":"Investing cash flows include payments to acquire property, plant and equipment and intangible assets, including capitalised development costs and self-constructed property, plant and equipment (IAS 7, para. 16).","es":""},"common_error":{"fr":"","en":"Leaving in operating the wages capitalised into a self-constructed asset.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000083","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000083","tested_point":"QST.IAS7.000083","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"recognised-asset"},"references":["IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"Which of these flows is an investing cash flow?","es":""},"explanation":{"fr":"","en":"Cash advances and loans made to other parties, and their repayments, are investing cash flows; an expensed outlay is not (IAS 7, para. 16).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Payment for a national advertising campaign, expensed in the year.","es":""},"correct":false,"feedback":{"fr":"","en":"Expensed outlay: not investing.","es":""}},{"id":"B","text":{"fr":"","en":"Repayment of a loan taken out by the entity.","es":""},"correct":false,"feedback":{"fr":"","en":"Financing.","es":""}},{"id":"C","text":{"fr":"","en":"Payment of raw material suppliers.","es":""},"correct":false,"feedback":{"fr":"","en":"Operating.","es":""}},{"id":"D","text":{"fr":"","en":"A cash advance made to another entity.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000084","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000084","tested_point":"QST.IAS7.000084","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"recognised-asset"},"references":["IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"How are cash flows on futures, forwards, options and swaps that are neither held for trading nor classified as financing classified?","es":""},"explanation":{"fr":"","en":"Cash flows on futures, forwards, options and swaps are investing, except when the contracts are held for dealing or trading or the flows are classified as financing (IAS 7, para. 16).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As investing activities.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"As operating activities in all cases, like instruments held for trading.","es":""},"correct":false,"feedback":{"fr":"","en":"Only those held for trading are operating.","es":""}},{"id":"C","text":{"fr":"","en":"Outside the statement, being insignificant net flows.","es":""},"correct":false,"feedback":{"fr":"","en":"Flows on these contracts appear in the statement.","es":""}},{"id":"D","text":{"fr":"","en":"At choice, with no consistency requirement.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard gives a default classification.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000085","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000085","tested_point":"QST.IAS7.000085","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"recognised-asset"},"references":["IAS 7 §14","IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"Velquine sells a machine: cost 300,000, accumulated depreciation 220,000, price received 95,000. What amount appears in investing cash flows?","es":""},"explanation":{"fr":"","en":"Cash receipts from the sale of property, plant and equipment are investing flows (IAS 7, para. 16) for the price received, 95,000; the gain (95,000 − 80,000 = 15,000) is included in profit without being a separate cash flow (IAS 7, para. 14).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"An inflow of 80,000, equal to the carrying amount of the machine derecognised.","es":""},"correct":false,"feedback":{"fr":"","en":"The carrying amount is not the cash flow.","es":""}},{"id":"B","text":{"fr":"","en":"An inflow of 95,000.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"An inflow of 15,000, equal to the gain on disposal.","es":""},"correct":false,"feedback":{"fr":"","en":"The gain is not a cash flow.","es":""}},{"id":"D","text":{"fr":"","en":"An inflow of 300,000, equal to original cost.","es":""},"correct":false,"feedback":{"fr":"","en":"Historical cost is not received.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000086","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000086","tested_point":"QST.IAS7.000086","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"recognised-asset"},"references":["IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"Which of the following payments by Brabane can be classified as investing activities?","es":""},"explanation":{"fr":"","en":"Payments to acquire long-term assets, including capitalised development costs, and debt instruments of other entities can be classified as investing; only expenditures resulting in an asset are eligible (IAS 7, para. 16).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Routine machine maintenance expensed.","es":""},"correct":false,"feedback":{"fr":"","en":"Expense: operating.","es":""}},{"id":"B","text":{"fr":"","en":"Purchase of land for a future warehouse.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Research costs recognised as expenses.","es":""},"correct":false,"feedback":{"fr":"","en":"No asset: not investing.","es":""}},{"id":"D","text":{"fr":"","en":"Capitalised development costs.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Purchase of another company’s bonds held long term.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000087","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000087","tested_point":"QST.IAS7.000087","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"recognised-asset"},"references":["IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"In Sormont's statement, which of these investing lines are correctly prepared?","es":""},"explanation":{"fr":"","en":"Investing cash flows cover amounts paid or received: acquisition payments, disposal proceeds received, loans made and their repayments (IAS 7, para. 16); an unpaid or leased acquisition is not a cash flow of the period.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Acquisitions of PPE: amount paid in the year, excluding acquisitions still owed to the supplier.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Disposals of PPE: carrying amount of the assets derecognised.","es":""},"correct":false,"feedback":{"fr":"","en":"The price received is required.","es":""}},{"id":"C","text":{"fr":"","en":"Building taken on lease: investing outflow equal to the right-of-use asset.","es":""},"correct":false,"feedback":{"fr":"","en":"Non-cash transaction to exclude.","es":""}},{"id":"D","text":{"fr":"","en":"Loans to franchisees and repayments received, presented separately.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000088","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000006","tested_point":"VG.IAS7.000006","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"recognised-asset"},"references":["IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"Ervane sold a kiln: cost {cost}, accumulated depreciation {accumulated_depreciation}, gain on disposal recognised {gain} (case data). Compute the carrying amount derecognised and the price received presented in investing.","es":""},"explanation":{"fr":"","en":"Carrying amount: 480,000 − 355,000 = 125,000; price received: 125,000 + 41,000 = 166,000, presented in investing (IAS 7, para. 16).","es":""},"common_error":{"fr":"","en":"Presenting the carrying amount as the disposal flow.","es":""},"format":"CALCULATION","placeholders":[{"id":"cost","value":"480000","unit":"EUR"},{"id":"accumulated_depreciation","value":"355000","unit":"EUR"},{"id":"gain","value":"41000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Cost","es":""},"value":"480000","unit":"EUR"},{"label":{"fr":"","en":"Accumulated depreciation","es":""},"value":"355000","unit":"EUR"},{"label":{"fr":"","en":"Gain on disposal","es":""},"value":"41000","unit":"EUR"}],"steps":[{"id":"CARRYING_AMOUNT","label":{"fr":"","en":"Carrying amount derecognised","es":""},"answer":125000,"tolerance":0,"unit":"EUR"},{"id":"PROCEEDS","label":{"fr":"","en":"Price received (investing)","es":""},"answer":166000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"CARRYING_AMOUNT","meaning":{"fr":"","en":"Carrying amount derecognised","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cost","es":""},"value":480000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Accumulated depreciation","es":""},"value":355000,"unit":"EUR"}],"result":125000,"unit":"EUR"},{"step":"PROCEEDS","meaning":{"fr":"","en":"Price received (investing)","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Carrying amount derecognised","es":""},"value":125000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Gain on disposal","es":""},"value":41000,"unit":"EUR"}],"result":166000,"unit":"EUR"}],"references":["REF.IAS7.16"]}},"scope":"CORE_STUDENT","reserve":true},{"key":"QST.IAS7.000089","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000006","tested_point":"VG.IAS7.000006","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"recognised-asset"},"references":["IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"On selling a batch of vans, Ostvenne derecognised assets with a cost of {cost}, depreciated by {accumulated_depreciation}, and recognised a loss on disposal of {loss} (case data). What is the carrying amount derecognised and what cash receipt appears in investing?","es":""},"explanation":{"fr":"","en":"Carrying amount: 216,000 − 129,000 = 87,000; a loss means a lower price: 87,000 − 12,500 = 74,500, an investing receipt (IAS 7, para. 16).","es":""},"common_error":{"fr":"","en":"Adding the loss instead of deducting it.","es":""},"format":"CALCULATION","placeholders":[{"id":"cost","value":"216000","unit":"EUR"},{"id":"accumulated_depreciation","value":"129000","unit":"EUR"},{"id":"loss","value":"12500","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Cost of the vans","es":""},"value":"216000","unit":"EUR"},{"label":{"fr":"","en":"Accumulated depreciation","es":""},"value":"129000","unit":"EUR"},{"label":{"fr":"","en":"Loss on disposal","es":""},"value":"12500","unit":"EUR"}],"steps":[{"id":"CARRYING_AMOUNT","label":{"fr":"","en":"Carrying amount derecognised","es":""},"answer":87000,"tolerance":0,"unit":"EUR"},{"id":"PROCEEDS","label":{"fr":"","en":"Receipt presented in investing","es":""},"answer":74500,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"CARRYING_AMOUNT","meaning":{"fr":"","en":"Carrying amount derecognised","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cost of the vans","es":""},"value":216000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Accumulated depreciation","es":""},"value":129000,"unit":"EUR"}],"result":87000,"unit":"EUR"},{"step":"PROCEEDS","meaning":{"fr":"","en":"Receipt presented in investing","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Carrying amount derecognised","es":""},"value":87000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Loss on disposal","es":""},"value":12500,"unit":"EUR"}],"result":74500,"unit":"EUR","rationale":{"fr":"","en":"a loss means a lower price: 87,000 − 12,500 = 74,500, an investing receipt (IAS 7, para. 16).","es":""}}],"references":["REF.IAS7.16"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000090","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000007","tested_point":"VG.IAS7.000007","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"recognised-asset"},"references":["IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"At Lirquine, net property, plant and equipment moves from {opening_net} to {closing_net}. The depreciation charge is {depreciation} and the carrying amount of assets sold is {disposals_carrying}. All acquisitions were paid in cash (case data). Compute the investing outflow for acquisitions.","es":""},"explanation":{"fr":"","en":"Opening + acquisitions − depreciation − disposals = closing, so acquisitions = 2,015,000 − 1,840,000 + 236,000 + 58,000 = 469,000, an investing outflow (IAS 7, para. 16) (case data).","es":""},"common_error":{"fr":"","en":"Using only the change in net amounts.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_net","value":"1840000","unit":"EUR"},{"id":"closing_net","value":"2015000","unit":"EUR"},{"id":"depreciation","value":"236000","unit":"EUR"},{"id":"disposals_carrying","value":"58000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Opening net amount","es":""},"value":"1840000","unit":"EUR"},{"label":{"fr":"","en":"Closing net amount","es":""},"value":"2015000","unit":"EUR"},{"label":{"fr":"","en":"Depreciation charge","es":""},"value":"236000","unit":"EUR"},{"label":{"fr":"","en":"Carrying amount of disposals","es":""},"value":"58000","unit":"EUR"}],"steps":[{"id":"ACQUISITIONS_PAID","label":{"fr":"","en":"Acquisitions paid","es":""},"answer":469000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"ACQUISITIONS_PAID","meaning":{"fr":"","en":"Acquisitions paid","es":""},"expression":"a - b + c + d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Closing net amount","es":""},"value":2015000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening net amount","es":""},"value":1840000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Depreciation charge","es":""},"value":236000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Carrying amount of disposals","es":""},"value":58000,"unit":"EUR"}],"result":469000,"unit":"EUR","rationale":{"fr":"","en":"Opening + acquisitions − depreciation − disposals = closing, so acquisitions = 2,015,000 − 1,840,000 + 236,000 + 58,000 = 469,000, an investing outflow (IAS 7, para. 16) (case data).","es":""}}],"references":["REF.IAS7.16"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000091","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000007","tested_point":"VG.IAS7.000007","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"recognised-asset"},"references":["IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"Morzane's equipment fleet had a net value of {opening_net} at the start of the year and {closing_net} at the end. The year bore {depreciation} of depreciation, and equipment with a net value of {disposals_carrying} was sold. No purchase remains unpaid (case data). What amount of equipment purchases appears as an investing outflow?","es":""},"explanation":{"fr":"","en":"Purchases = closing − opening + depreciation + disposals = 868,000 − 925,000 + 142,000 + 31,000 = 116,000, presented in investing (IAS 7, para. 16) despite the fall in net value.","es":""},"common_error":{"fr":"","en":"Concluding that there were no acquisitions because net value fell.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_net","value":"925000","unit":"EUR"},{"id":"closing_net","value":"868000","unit":"EUR"},{"id":"depreciation","value":"142000","unit":"EUR"},{"id":"disposals_carrying","value":"31000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Net value at the start","es":""},"value":"925000","unit":"EUR"},{"label":{"fr":"","en":"Net value at the end","es":""},"value":"868000","unit":"EUR"},{"label":{"fr":"","en":"Depreciation for the year","es":""},"value":"142000","unit":"EUR"},{"label":{"fr":"","en":"Net value of equipment sold","es":""},"value":"31000","unit":"EUR"}],"steps":[{"id":"ACQUISITIONS_PAID","label":{"fr":"","en":"Equipment purchases paid","es":""},"answer":116000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"ACQUISITIONS_PAID","meaning":{"fr":"","en":"Equipment purchases paid","es":""},"expression":"a - b + c + d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Net value at the end","es":""},"value":868000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Net value at the start","es":""},"value":925000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Depreciation for the year","es":""},"value":142000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Net value of equipment sold","es":""},"value":31000,"unit":"EUR"}],"result":116000,"unit":"EUR","rationale":{"fr":"","en":"Purchases = closing − opening + depreciation + disposals = 868,000 − 925,000 + 142,000 + 31,000 = 116,000, presented in investing (IAS 7, para. 16) despite the fall in net value.","es":""}}],"references":["REF.IAS7.16"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000092","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000092","tested_point":"QST.IAS7.000092","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"recognised-asset"},"references":["IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"Selmont acquired {gross_acquisitions} of property, plant and equipment. The amount owed to suppliers of fixed assets moves from {opening_payable} to {closing_payable}. It also capitalised {development_costs} of development costs, paid during the year (case data). Compute the related investing outflows.","es":""},"explanation":{"fr":"","en":"Amount paid: 760,000 + 45,000 − 118,000 = 687,000; capitalised development costs, eligible for investing (IAS 7, para. 16), are added: 687,000 + 96,000 = 783,000.","es":""},"common_error":{"fr":"","en":"Using gross acquisitions as the outflow.","es":""},"format":"CALCULATION","placeholders":[{"id":"gross_acquisitions","value":"760000","unit":"EUR"},{"id":"opening_payable","value":"45000","unit":"EUR"},{"id":"closing_payable","value":"118000","unit":"EUR"},{"id":"development_costs","value":"96000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Acquisitions for the period","es":""},"value":"760000","unit":"EUR"},{"label":{"fr":"","en":"Fixed asset payables at the start","es":""},"value":"45000","unit":"EUR"},{"label":{"fr":"","en":"Fixed asset payables at the end","es":""},"value":"118000","unit":"EUR"},{"label":{"fr":"","en":"Capitalised development costs","es":""},"value":"96000","unit":"EUR"}],"steps":[{"id":"PPE_PAID","label":{"fr":"","en":"PPE paid","es":""},"answer":687000,"tolerance":0,"unit":"EUR"},{"id":"TOTAL_INVESTING_OUTFLOW","label":{"fr":"","en":"Total investing outflows","es":""},"answer":783000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"PPE_PAID","meaning":{"fr":"","en":"PPE paid","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Acquisitions for the period","es":""},"value":760000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Fixed asset payables at the start","es":""},"value":45000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Fixed asset payables at the end","es":""},"value":118000,"unit":"EUR"}],"result":687000,"unit":"EUR"},{"step":"TOTAL_INVESTING_OUTFLOW","meaning":{"fr":"","en":"Total investing outflows","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"PPE paid","es":""},"value":687000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Capitalised development costs","es":""},"value":96000,"unit":"EUR"}],"result":783000,"unit":"EUR","rationale":{"fr":"","en":"capitalised development costs, eligible for investing (IAS 7, para. 16), are added: 687,000 + 96,000 = 783,000.","es":""}}],"references":["REF.IAS7.16"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000093","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000093","tested_point":"QST.IAS7.000093","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"recognised-asset"},"references":["IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"To improve its operating cash flows, Ulvio presents as investing 420,000 of research spending recognised as an expense, on the ground that it prepares its future products. What is the error?","es":""},"explanation":{"fr":"","en":"Only expenditures that result in a recognised asset are eligible for classification as investing (IAS 7, para. 16); expensed research costs remain operating.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Research spending must be presented as financing, as it consumes equity.","es":""},"correct":false,"feedback":{"fr":"","en":"They change neither contributed equity nor borrowings.","es":""}},{"id":"B","text":{"fr":"","en":"There is no error; the intention to generate future revenue is enough.","es":""},"correct":false,"feedback":{"fr":"","en":"The condition is recognition of an asset.","es":""}},{"id":"C","text":{"fr":"","en":"The spending should have been excluded from the statement.","es":""},"correct":false,"feedback":{"fr":"","en":"They are operating outflows.","es":""}},{"id":"D","text":{"fr":"","en":"An outlay that does not result in an asset cannot be classified as investing.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000094","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000094","tested_point":"QST.IAS7.000094","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"recognised-asset"},"references":["IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"Ulmont acquired a press for 650,000, of which 200,000 is still owed to the supplier at year-end, and presents an investing outflow of 650,000. What is the error?","es":""},"explanation":{"fr":"","en":"Investing cash flows are payments to acquire property, plant and equipment (IAS 7, para. 16): 650,000 − 200,000 = 450,000 paid in the period; the amount owed will be an outflow when settled.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The 200,000 still owed to the supplier should have been presented as a financing flow of the period.","es":""},"correct":false,"feedback":{"fr":"","en":"No cash flow occurred for this part.","es":""}},{"id":"B","text":{"fr":"","en":"The press should have been presented as operating, as it serves production.","es":""},"correct":false,"feedback":{"fr":"","en":"Acquisition of a long-term asset: investing.","es":""}},{"id":"C","text":{"fr":"","en":"Only the 450,000 paid is a cash flow of the period; the amount owed has not yet been paid.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"There is no error, the asset being recognised at 650,000.","es":""},"correct":false,"feedback":{"fr":"","en":"The statement uses amounts paid.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000095","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000095","tested_point":"QST.IAS7.000095","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"recognised-asset"},"references":["IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"In Kerdine's statement, the line “disposals of PPE” of 130,000 corresponds to the carrying amount of the assets sold, whereas the price received was 175,000. What is the error?","es":""},"explanation":{"fr":"","en":"Cash receipts from the sale of PPE are investing flows (IAS 7, para. 16): 175,000; using the carrying amount (130,000) misses the 45,000 gain.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The gain of 45,000 should have been added in financing.","es":""},"correct":false,"feedback":{"fr":"","en":"The gain is not a financing flow.","es":""}},{"id":"B","text":{"fr":"","en":"The investing flow is the price received of 175,000, not the carrying amount.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The line should have shown only the gain of 45,000.","es":""},"correct":false,"feedback":{"fr":"","en":"The gain is not a separate receipt.","es":""}},{"id":"D","text":{"fr":"","en":"There is no error as long as the 45,000 gain is removed from the operating flow.","es":""},"correct":false,"feedback":{"fr":"","en":"The disposal flow is still wrong by 45,000.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000099","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000099","tested_point":"QST.IAS7.000099","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":170,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"recognised-asset"},"references":["IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"Tormont spends 240,000 on new software: 180,000 of development meeting the capitalisation criteria and 60,000 of user training, recognised as an expense (case data). How should the payments be classified?","es":""},"explanation":{"fr":"","en":"Payments to acquire intangible assets, including capitalised development costs, are investing; only expenditures resulting in an asset are eligible (IAS 7, para. 16).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"180,000 as investing, 60,000 as operating.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"240,000 as investing, the project being a whole.","es":""},"correct":false,"feedback":{"fr":"","en":"Expensed training cannot be investing.","es":""}},{"id":"C","text":{"fr":"","en":"240,000 as operating, software serving operations.","es":""},"correct":false,"feedback":{"fr":"","en":"The capitalised part is investing.","es":""}},{"id":"D","text":{"fr":"","en":"180,000 as financing, 60,000 as operating.","es":""},"correct":false,"feedback":{"fr":"","en":"Development is not financing.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000100","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000100","tested_point":"QST.IAS7.000100","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"recognised-asset"},"references":["IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"Halmont, a manufacturer, subscribes 2 million of debt securities of a listed company, maturing in 4 years, which it will hold until redemption (case data). How should the payment be classified?","es":""},"explanation":{"fr":"","en":"Payments to acquire debt instruments of other entities are investing cash flows (IAS 7, para. 16); the term and the holding intention (case data) rule out cash equivalent and trading qualifications.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Investing: acquisition of debt instruments of other entities.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Cash equivalent, the securities being listed and liquid.","es":""},"correct":false,"feedback":{"fr":"","en":"The 4-year maturity rules out this qualification.","es":""}},{"id":"C","text":{"fr":"","en":"Operating, like securities held for trading.","es":""},"correct":false,"feedback":{"fr":"","en":"The securities are held to maturity.","es":""}},{"id":"D","text":{"fr":"","en":"Financing, since it is a transaction involving debt securities.","es":""},"correct":false,"feedback":{"fr":"","en":"Halmont is the lender, not the borrower.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000101","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.INVESTING_ACTIVITIES"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000101","tested_point":"QST.IAS7.000101","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000006","section_id":"recognised-asset"},"references":["IAS 7 §16"],"exercise":{"prompt":{"fr":"","en":"Isquine acquires a machine for 500,000: 150,000 paid in cash, the balance settled through a 3-year supplier credit, of which it repays 50,000 before year-end (case data). What investing outflow should be presented for the acquisition?","es":""},"explanation":{"fr":"","en":"Investing cash flows are payments to acquire long-term assets (IAS 7, para. 16): 150,000 paid at acquisition; the supplier-financed part is not a cash flow at acquisition, and the classification of its later repayments is a judgement to document.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"500,000, the total cost of the machine, since the whole asset enters property, plant and equipment this year.","es":""},"correct":false,"feedback":{"fr":"","en":"The supplier-financed part is not an acquisition outflow.","es":""}},{"id":"B","text":{"fr":"","en":"150,000; classifying the 50,000 repaid later (investing or financing) is a matter of judgement.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"200,000 as financing and 300,000 as investing, to reflect the supplier credit's share of the cost.","es":""},"correct":false,"feedback":{"fr":"","en":"These amounts do not match the payments.","es":""}},{"id":"D","text":{"fr":"","en":"None, the acquisition being financed by a supplier credit rather than by the entity's own cash payment.","es":""},"correct":false,"feedback":{"fr":"","en":"150,000 was paid in cash.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000103","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000103","tested_point":"QST.IAS7.000103","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"examples"},"references":["IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"Cash payments by a lessee for the reduction of the outstanding lease liability are financing cash flows.","es":""},"explanation":{"fr":"","en":"Cash payments by a lessee for the reduction of the outstanding lease liability are among the examples of financing cash flows (IAS 7, para. 17).","es":""},"common_error":{"fr":"","en":"Classifying the principal portion as operating.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000104","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000104","tested_point":"QST.IAS7.000104","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"examples"},"references":["IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"A payment to owners to acquire or redeem the entity's shares is an investing cash flow, the entity acquiring securities.","es":""},"explanation":{"fr":"","en":"Cash payments to owners to acquire or redeem the entity's shares are financing cash flows (IAS 7, para. 17).","es":""},"common_error":{"fr":"","en":"Confusing own shares with other entities' securities.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000105","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000105","tested_point":"QST.IAS7.000105","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"examples"},"references":["IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"Which of these flows is a financing cash flow under the standard?","es":""},"explanation":{"fr":"","en":"Cash proceeds from issuing debentures, loans, notes and other short-term or long-term borrowings are financing cash flows (IAS 7, para. 17).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Price received on selling a warehouse the entity owned.","es":""},"correct":false,"feedback":{"fr":"","en":"Investing.","es":""}},{"id":"B","text":{"fr":"","en":"Payment of sales staff wages.","es":""},"correct":false,"feedback":{"fr":"","en":"Operating.","es":""}},{"id":"C","text":{"fr":"","en":"Proceeds from the issue of a note by the entity.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"A loan granted to a supplier.","es":""},"correct":false,"feedback":{"fr":"","en":"Investing.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000106","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000106","tested_point":"QST.IAS7.000106","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"examples"},"references":["IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"Why does the standard require financing cash flows to be presented separately?","es":""},"explanation":{"fr":"","en":"Separate disclosure of financing cash flows is useful in predicting claims on the entity's future cash flows by providers of capital (IAS 7, para. 17).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"To compute the entity’s weighted average cost of capital from the published statement.","es":""},"correct":false,"feedback":{"fr":"","en":"This is not the objective of the standard.","es":""}},{"id":"B","text":{"fr":"","en":"To isolate the flows that escape tax.","es":""},"correct":false,"feedback":{"fr":"","en":"No tax purpose.","es":""}},{"id":"C","text":{"fr":"","en":"To replace disclosure on borrowings in the notes.","es":""},"correct":false,"feedback":{"fr":"","en":"The statement does not replace the notes.","es":""}},{"id":"D","text":{"fr":"","en":"To help predict claims on future cash flows by providers of capital.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000107","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000107","tested_point":"QST.IAS7.000107","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"examples"},"references":["IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"Rozane pays 96,000 of lease payments under a lease recognised on the balance sheet, of which 21,000 is interest; its policy classifies interest paid as operating (case data). What amount should be presented in financing?","es":""},"explanation":{"fr":"","en":"Lessee payments that reduce the lease liability are financing cash flows (IAS 7, para. 17): 96,000 − 21,000 = 75,000; the interest part follows the policy for interest paid.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"96,000, all lease payments being financing whatever the policy.","es":""},"correct":false,"feedback":{"fr":"","en":"Interest follows the entity's policy here.","es":""}},{"id":"B","text":{"fr":"","en":"75,000.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"21,000.","es":""},"correct":false,"feedback":{"fr":"","en":"That is the interest part.","es":""}},{"id":"D","text":{"fr":"","en":"Nil, lease payments being operating expenses.","es":""},"correct":false,"feedback":{"fr":"","en":"The principal part is financing.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000108","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000108","tested_point":"QST.IAS7.000108","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"examples"},"references":["IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"Which of the following flows of Zantis are financing cash flows?","es":""},"explanation":{"fr":"","en":"Share issues, repayments of borrowings and lessee payments reducing the lease liability are financing cash flows (IAS 7, para. 17).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Purchase of shares in a customer company.","es":""},"correct":false,"feedback":{"fr":"","en":"Investing.","es":""}},{"id":"B","text":{"fr":"","en":"Principal portion of lease payments.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Collection of a customer receivable.","es":""},"correct":false,"feedback":{"fr":"","en":"Operating.","es":""}},{"id":"D","text":{"fr":"","en":"Issue of new shares for cash.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Repayment of a mortgage loan.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000109","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000109","tested_point":"QST.IAS7.000109","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"examples"},"references":["IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"When reviewing Fenquine's statement, which of these financing presentations are correct?","es":""},"explanation":{"fr":"","en":"Financing cash flows include proceeds from borrowings, their repayments and payments reducing the lease liability (IAS 7, para. 17); non-cash changes (conversion, exchange differences) are not repayments.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Net change in borrowings presented as repayment, although a foreign-currency loan rose through exchange differences.","es":""},"correct":false,"feedback":{"fr":"","en":"The exchange effect is not a cash flow.","es":""}},{"id":"B","text":{"fr":"","en":"Lease principal payments in financing.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Lease principal payments in operating.","es":""},"correct":false,"feedback":{"fr":"","en":"Error: principal is financing.","es":""}},{"id":"D","text":{"fr":"","en":"Bond issue proceeds presented separately from repayments.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Repayments of borrowings computed from balances, after excluding a conversion of debt into shares.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000110","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000008","tested_point":"VG.IAS7.000008","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"examples"},"references":["IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"Fenzane's bank borrowings move from {opening_borrowings} to {closing_borrowings}. It drew {new_borrowings} of new loans; there are no non-cash changes (case data). Compute repayments for the period.","es":""},"explanation":{"fr":"","en":"Opening + drawdowns − repayments = closing: 1,350,000 + 400,000 − 1,180,000 = 570,000 of repayments, a financing cash flow (IAS 7, para. 17), presented separately from the 400,000 drawn.","es":""},"common_error":{"fr":"","en":"Presenting only the net change in borrowings.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_borrowings","value":"1350000","unit":"EUR"},{"id":"closing_borrowings","value":"1180000","unit":"EUR"},{"id":"new_borrowings","value":"400000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Opening borrowings","es":""},"value":"1350000","unit":"EUR"},{"label":{"fr":"","en":"Closing borrowings","es":""},"value":"1180000","unit":"EUR"},{"label":{"fr":"","en":"New loans drawn","es":""},"value":"400000","unit":"EUR"}],"steps":[{"id":"REPAYMENTS","label":{"fr":"","en":"Repayments (financing)","es":""},"answer":570000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"REPAYMENTS","meaning":{"fr":"","en":"Repayments (financing)","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Opening borrowings","es":""},"value":1350000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"New loans drawn","es":""},"value":400000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing borrowings","es":""},"value":1180000,"unit":"EUR"}],"result":570000,"unit":"EUR","rationale":{"fr":"","en":"Opening + drawdowns − repayments = closing: 1,350,000 + 400,000 − 1,180,000 = 570,000 of repayments, a financing cash flow (IAS 7, para. 17), presented separately from the 400,000 drawn.","es":""}}],"references":["REF.IAS7.17"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000111","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000008","tested_point":"VG.IAS7.000008","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"examples"},"references":["IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"At the start of the year Belvane owed {opening_borrowings} to its banks; at the end it owes {closing_borrowings}. During the year it took out a new loan of {new_borrowings}, and no non-cash movement affected these debts (case data). What amount of repayments appears in financing?","es":""},"explanation":{"fr":"","en":"Repayments = 620,000 + 450,000 − 905,000 = 165,000, a financing cash flow (IAS 7, para. 17); the rise in debt does not exempt the entity from showing drawdowns and repayments separately.","es":""},"common_error":{"fr":"","en":"Concluding there were no repayments because debt rose.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_borrowings","value":"620000","unit":"EUR"},{"id":"closing_borrowings","value":"905000","unit":"EUR"},{"id":"new_borrowings","value":"450000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Bank debt at the start","es":""},"value":"620000","unit":"EUR"},{"label":{"fr":"","en":"Bank debt at the end","es":""},"value":"905000","unit":"EUR"},{"label":{"fr":"","en":"New loan taken out","es":""},"value":"450000","unit":"EUR"}],"steps":[{"id":"REPAYMENTS","label":{"fr":"","en":"Repayments presented","es":""},"answer":165000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"REPAYMENTS","meaning":{"fr":"","en":"Repayments presented","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Bank debt at the start","es":""},"value":620000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"New loan taken out","es":""},"value":450000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Bank debt at the end","es":""},"value":905000,"unit":"EUR"}],"result":165000,"unit":"EUR"}],"rationale":{"fr":"","en":"Repayments = 620,000 + 450,000 − 905,000 = 165,000, a financing cash flow (IAS 7, para. 17)","es":""},"references":["REF.IAS7.17"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000112","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000112","tested_point":"QST.IAS7.000112","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"examples"},"references":["IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"Sarquine's borrowings move from {opening_borrowings} to {closing_borrowings}. During the year: new loan drawn {new_borrowings}; bonds converted into shares {converted}; increase in a foreign-currency loan due to exchange rates {fx_increase} (case data). Compute cash repayments.","es":""},"explanation":{"fr":"","en":"Repayments = 2,400,000 + 500,000 + 45,000 − 300,000 − 2,110,000 = 535,000. Only cash repayments are financing cash flows (IAS 7, para. 17); conversion and exchange differences are non-cash changes.","es":""},"common_error":{"fr":"","en":"Treating the conversion as a repayment.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_borrowings","value":"2400000","unit":"EUR"},{"id":"closing_borrowings","value":"2110000","unit":"EUR"},{"id":"new_borrowings","value":"500000","unit":"EUR"},{"id":"converted","value":"300000","unit":"EUR"},{"id":"fx_increase","value":"45000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Opening borrowings","es":""},"value":"2400000","unit":"EUR"},{"label":{"fr":"","en":"Closing borrowings","es":""},"value":"2110000","unit":"EUR"},{"label":{"fr":"","en":"New loan drawn","es":""},"value":"500000","unit":"EUR"},{"label":{"fr":"","en":"Bonds converted","es":""},"value":"300000","unit":"EUR"},{"label":{"fr":"","en":"Exchange effect","es":""},"value":"45000","unit":"EUR"}],"steps":[{"id":"REPAYMENTS","label":{"fr":"","en":"Cash repayments","es":""},"answer":535000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"REPAYMENTS","meaning":{"fr":"","en":"Cash repayments","es":""},"expression":"a + b + c - d - e","variables":[{"symbol":"a","meaning":{"fr":"","en":"Opening borrowings","es":""},"value":2400000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"New loan drawn","es":""},"value":500000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Exchange effect","es":""},"value":45000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Bonds converted","es":""},"value":300000,"unit":"EUR"},{"symbol":"e","meaning":{"fr":"","en":"Closing borrowings","es":""},"value":2110000,"unit":"EUR"}],"result":535000,"unit":"EUR"}],"rationale":{"fr":"","en":"Only cash repayments are financing cash flows (IAS 7, para. 17)","es":""},"references":["REF.IAS7.17"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000113","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000113","tested_point":"QST.IAS7.000113","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"examples"},"references":["IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"Elquine's share capital and premium move from {opening_equity} to {closing_equity}. The increase includes a capitalisation of reserves of {bonus_issue} and shares issued in exchange for a contribution of land for {shares_for_land} (case data). Compute the cash proceeds from share issues.","es":""},"explanation":{"fr":"","en":"Cash proceeds: 4,150,000 − 3,200,000 − 250,000 − 380,000 = 320,000, a financing cash flow (IAS 7, para. 17); the capitalisation of reserves and the issue for land did not move cash.","es":""},"common_error":{"fr":"","en":"Treating the whole increase in equity as a receipt.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_equity","value":"3200000","unit":"EUR"},{"id":"closing_equity","value":"4150000","unit":"EUR"},{"id":"bonus_issue","value":"250000","unit":"EUR"},{"id":"shares_for_land","value":"380000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Opening share capital and premium","es":""},"value":"3200000","unit":"EUR"},{"label":{"fr":"","en":"Closing share capital and premium","es":""},"value":"4150000","unit":"EUR"},{"label":{"fr":"","en":"Capitalisation of reserves","es":""},"value":"250000","unit":"EUR"},{"label":{"fr":"","en":"Shares issued for land contributed","es":""},"value":"380000","unit":"EUR"}],"steps":[{"id":"SHARE_ISSUE_PROCEEDS","label":{"fr":"","en":"Cash proceeds from issues","es":""},"answer":320000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"SHARE_ISSUE_PROCEEDS","meaning":{"fr":"","en":"Cash proceeds from issues","es":""},"expression":"a - b - c - d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Closing share capital and premium","es":""},"value":4150000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening share capital and premium","es":""},"value":3200000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Capitalisation of reserves","es":""},"value":250000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Shares issued for land contributed","es":""},"value":380000,"unit":"EUR"}],"result":320000,"unit":"EUR"}],"rationale":{"fr":"","en":"Cash proceeds: 4,150,000 − 3,200,000 − 250,000 − 380,000 = 320,000, a financing cash flow (IAS 7, para. 17)","es":""},"references":["REF.IAS7.17"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000114","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000114","tested_point":"QST.IAS7.000114","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"examples"},"references":["IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"Marlisse's lease liability moves from {opening_liability} to {closing_liability}. New leases were recognised for {new_leases} and interest for the year amounts to {interest}, paid in full with the lease payments (case data; measurement under IFRS 16). Compute the principal payments presented in financing and total lease payments made.","es":""},"explanation":{"fr":"","en":"Principal = 840,000 + 260,000 − 910,000 = 190,000, a financing cash flow (IAS 7, para. 17); new leases are a non-cash change. Lease payments: 190,000 + 38,000 = 228,000, the interest part following the policy for interest.","es":""},"common_error":{"fr":"","en":"Treating new leases as financing inflows.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_liability","value":"840000","unit":"EUR"},{"id":"closing_liability","value":"910000","unit":"EUR"},{"id":"new_leases","value":"260000","unit":"EUR"},{"id":"interest","value":"38000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Opening lease liability","es":""},"value":"840000","unit":"EUR"},{"label":{"fr":"","en":"Closing lease liability","es":""},"value":"910000","unit":"EUR"},{"label":{"fr":"","en":"New leases recognised","es":""},"value":"260000","unit":"EUR"},{"label":{"fr":"","en":"Interest for the period","es":""},"value":"38000","unit":"EUR"}],"steps":[{"id":"PRINCIPAL_PAID","label":{"fr":"","en":"Principal paid (financing)","es":""},"answer":190000,"tolerance":0,"unit":"EUR"},{"id":"TOTAL_PAID","label":{"fr":"","en":"Total lease payments made","es":""},"answer":228000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"PRINCIPAL_PAID","meaning":{"fr":"","en":"Principal paid (financing)","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Opening lease liability","es":""},"value":840000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"New leases recognised","es":""},"value":260000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing lease liability","es":""},"value":910000,"unit":"EUR"}],"result":190000,"unit":"EUR"},{"step":"TOTAL_PAID","meaning":{"fr":"","en":"Total lease payments made","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Principal paid (financing)","es":""},"value":190000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Interest for the period","es":""},"value":38000,"unit":"EUR"}],"result":228000,"unit":"EUR"}],"rationale":{"fr":"","en":"Principal = 840,000 + 260,000 − 910,000 = 190,000, a financing cash flow (IAS 7, para. 17)","es":""},"references":["REF.IAS7.17"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000115","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000115","tested_point":"QST.IAS7.000115","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"examples"},"references":["IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"Calbris presents all its lease payments (principal and interest) on leases recognised on the balance sheet as operating cash flows, “like office rent”. What is the error?","es":""},"explanation":{"fr":"","en":"Lessee payments that reduce the lease liability are financing cash flows (IAS 7, para. 17); only the interest part may, depending on the policy chosen, be operating.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The part reducing the lease liability is a financing cash flow.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Interest should have been presented as investing.","es":""},"correct":false,"feedback":{"fr":"","en":"Interest paid is not investing.","es":""}},{"id":"C","text":{"fr":"","en":"There is no error: rent paid is always an operating flow.","es":""},"correct":false,"feedback":{"fr":"","en":"Principal on a lease liability is financing.","es":""}},{"id":"D","text":{"fr":"","en":"Lease payments should have been excluded from the statement.","es":""},"correct":false,"feedback":{"fr":"","en":"They are cash outflows.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000116","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000116","tested_point":"QST.IAS7.000116","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"examples"},"references":["IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"Velquine's borrowings fall by 500,000 during the year, of which 350,000 is due to bonds converted into shares; Velquine presents 500,000 of repayments in financing. What is the error?","es":""},"explanation":{"fr":"","en":"Cash repayments of borrowings are financing cash flows (IAS 7, para. 17): 500,000 − 350,000 = 150,000; the conversion into shares did not move cash.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The conversion must be presented as a share issue inflow of 350,000.","es":""},"correct":false,"feedback":{"fr":"","en":"No receipt occurred.","es":""}},{"id":"B","text":{"fr":"","en":"The repayment should have been classified as investing.","es":""},"correct":false,"feedback":{"fr":"","en":"Repaying borrowings is financing.","es":""}},{"id":"C","text":{"fr":"","en":"There is no error, the change in balances being 500,000.","es":""},"correct":false,"feedback":{"fr":"","en":"The change in balances includes a non-cash change.","es":""}},{"id":"D","text":{"fr":"","en":"The conversion is non-cash: only 150,000 are repayments.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000120","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000120","tested_point":"QST.IAS7.000120","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":170,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"examples"},"references":["IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"Ostbris buys back 5% of its own shares on the market for 900,000, in order to cancel them (case data). How should this payment be presented?","es":""},"explanation":{"fr":"","en":"Cash payments to owners to acquire or redeem the entity's shares are financing cash flows (IAS 7, para. 17).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As an investing outflow, the entity acquiring securities listed on an active market.","es":""},"correct":false,"feedback":{"fr":"","en":"These are its own shares.","es":""}},{"id":"B","text":{"fr":"","en":"Outside the statement, the cancellation having no cash effect.","es":""},"correct":false,"feedback":{"fr":"","en":"The buy-back is paid in cash.","es":""}},{"id":"C","text":{"fr":"","en":"As a financing outflow of 900,000.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"As operating, to support the share price.","es":""},"correct":false,"feedback":{"fr":"","en":"The motive does not change the classification.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000121","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000121","tested_point":"QST.IAS7.000121","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"examples"},"references":["IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"Lirdane pays during the year: 120,000 on leases recognised on the balance sheet (of which 30,000 is interest) and 18,000 for short-term leases not recognised under the exemption applied (case data). Its interest paid is classified as operating. What amount should be presented in financing?","es":""},"explanation":{"fr":"","en":"Only payments that reduce the lease liability are financing cash flows (IAS 7, para. 17): 120,000 − 30,000 = 90,000. Payments for short-term leases not recognised are operating (IFRS 16, para. 50).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"138,000, i.e. all payments made under leases.","es":""},"correct":false,"feedback":{"fr":"","en":"Interest and short-term leases are excluded.","es":""}},{"id":"B","text":{"fr":"","en":"108,000.","es":""},"correct":false,"feedback":{"fr":"","en":"Short-term leases reduce no lease liability.","es":""}},{"id":"C","text":{"fr":"","en":"90,000.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"120,000.","es":""},"correct":false,"feedback":{"fr":"","en":"The 30,000 interest follows the entity's policy.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000122","standard_id":"IAS7","concept_ids":["IAS7.CLASSIFICATION.FINANCING_ACTIVITIES"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000122","tested_point":"QST.IAS7.000122","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000007","section_id":"examples"},"references":["IAS 7 §17"],"exercise":{"prompt":{"fr":"","en":"Rosbane renegotiates a 2 million loan: the bank cancels it and grants a new one of 2.3 million, of which only 300,000 is paid into Rosbane’s account, the balance settling the old loan without passing through cash (case data). How should the transaction be presented?","es":""},"explanation":{"fr":"","en":"Cash proceeds from and repayments of borrowings are financing cash flows (IAS 7, para. 17); only 300,000 was received, the loan substitution being a non-cash change (accounting for the renegotiation: case data).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"An inflow of 2.3 million and a repayment of 2 million, presented separately gross in financing.","es":""},"correct":false,"feedback":{"fr":"","en":"The 2 million did not pass through cash.","es":""}},{"id":"B","text":{"fr":"","en":"Nothing in the statement, the transaction being a mere renegotiation.","es":""},"correct":false,"feedback":{"fr":"","en":"300,000 was received.","es":""}},{"id":"C","text":{"fr":"","en":"An investing inflow of 300,000.","es":""},"correct":false,"feedback":{"fr":"","en":"Borrowing received is financing.","es":""}},{"id":"D","text":{"fr":"","en":"A financing inflow of 300,000; the 2 million refinancing is a non-cash transaction.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000123","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000123","tested_point":"QST.IAS7.000123","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"rule"},"references":["IAS 7 §19"],"exercise":{"prompt":{"fr":"","en":"The standard encourages entities to report operating cash flows using the direct method.","es":""},"explanation":{"fr":"","en":"Entities are encouraged to use the direct method, which provides information useful in estimating future cash flows that is not available under the indirect method (IAS 7, para. 19).","es":""},"common_error":{"fr":"","en":"Believing the direct method is required.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000124","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000124","tested_point":"QST.IAS7.000124","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"rule"},"references":["IAS 7 §18"],"exercise":{"prompt":{"fr":"","en":"The direct method discloses major classes of gross cash receipts and gross cash payments from operating activities.","es":""},"explanation":{"fr":"","en":"The entity reports operating cash flows using either the direct method, which discloses major classes of gross receipts and payments, or the indirect method (IAS 7, para. 18). Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Confusing the direct method with a reconciliation from profit.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000125","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000125","tested_point":"QST.IAS7.000125","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"rule"},"references":["IAS 7 §19"],"exercise":{"prompt":{"fr":"","en":"Under the direct method, gross receipts and payments can only be obtained from the entity's cash accounting records.","es":""},"explanation":{"fr":"","en":"Major classes of gross receipts and payments may be obtained from the accounting records or by adjusting sales, cost of sales and other income statement items for changes in inventories, operating receivables and payables and other items (IAS 7, para. 19).","es":""},"common_error":{"fr":"","en":"Thinking the direct method requires cash-basis records.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000126","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000126","tested_point":"QST.IAS7.000126","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"rule"},"references":["IAS 7 §19"],"exercise":{"prompt":{"fr":"","en":"Why does the standard encourage the direct method?","es":""},"explanation":{"fr":"","en":"The direct method provides information useful in estimating future cash flows that is not available under the indirect method: this is why it is encouraged (IAS 7, para. 19).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It gives information useful for estimating future cash flows.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"It allows the entity to skip presenting investing and financing cash flows.","es":""},"correct":false,"feedback":{"fr":"","en":"All three activities are still presented.","es":""}},{"id":"C","text":{"fr":"","en":"It produces higher operating cash flow than the indirect method.","es":""},"correct":false,"feedback":{"fr":"","en":"The net flow is the same.","es":""}},{"id":"D","text":{"fr":"","en":"It is required by the tax authorities.","es":""},"correct":false,"feedback":{"fr":"","en":"No tax reason.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000127","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000127","tested_point":"QST.IAS7.000127","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"rule"},"references":["IAS 7 §18","IAS 7 §19"],"exercise":{"prompt":{"fr":"","en":"Direct or indirect method: what changes in net operating cash flow?","es":""},"explanation":{"fr":"","en":"Both methods give the same net operating cash flow; the direct method details gross receipts and payments, the indirect method starts from profit (IAS 7, para. 18), and the direct method is encouraged (IAS 7, para. 19). Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The direct method excludes taxes paid from operating cash flow, which are then classified as financing.","es":""},"correct":false,"feedback":{"fr":"","en":"Tax classification does not depend on the method.","es":""}},{"id":"B","text":{"fr":"","en":"Nothing: only the presentation differs.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The indirect method includes depreciation in the flow.","es":""},"correct":false,"feedback":{"fr":"","en":"Depreciation is added back.","es":""}},{"id":"D","text":{"fr":"","en":"The direct method ignores changes in receivables.","es":""},"correct":false,"feedback":{"fr":"","en":"Receipts incorporate them.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000128","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000128","tested_point":"QST.IAS7.000128","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"rule"},"references":["IAS 7 §19"],"exercise":{"prompt":{"fr":"","en":"Calmira does not track its receipts by nature in detail. How can it prepare a direct-method statement?","es":""},"explanation":{"fr":"","en":"Major classes of gross receipts and payments may be obtained by adjusting sales, cost of sales and other items for changes in inventories and operating receivables and payables (IAS 7, para. 19).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It cannot and must use the indirect method.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard provides this second route.","es":""}},{"id":"B","text":{"fr":"","en":"By taking income statement revenue and expenses with no adjustment, as an accepted approximation of the flows.","es":""},"correct":false,"feedback":{"fr":"","en":"Balance adjustments are needed.","es":""}},{"id":"C","text":{"fr":"","en":"By estimating flows from the year's budget.","es":""},"correct":false,"feedback":{"fr":"","en":"The statement relies on actual data.","es":""}},{"id":"D","text":{"fr":"","en":"By adjusting sales, cost of sales and other items for changes in inventories, receivables and payables.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000129","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000129","tested_point":"QST.IAS7.000129","difficulty":"BEGINNER","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"rule"},"references":["IAS 7 §18"],"exercise":{"prompt":{"fr":"","en":"Which of these lines belong to a direct-method presentation?","es":""},"explanation":{"fr":"","en":"The direct method shows major classes of gross receipts and payments; the indirect method starts from profit and adjusts it (IAS 7, para. 18). Wording before IFRS 18.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Cash received from customers.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Depreciation added back.","es":""},"correct":false,"feedback":{"fr":"","en":"Indirect-method line.","es":""}},{"id":"C","text":{"fr":"","en":"Cash paid to suppliers.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Change in trade receivables.","es":""},"correct":false,"feedback":{"fr":"","en":"Indirect-method line.","es":""}},{"id":"E","text":{"fr":"","en":"Cash paid to employees.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000130","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000130","tested_point":"QST.IAS7.000130","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"rule"},"references":["IAS 7 §19"],"exercise":{"prompt":{"fr":"","en":"To compute cash paid to suppliers by adjusting cost of sales, which items must be taken into account?","es":""},"explanation":{"fr":"","en":"Cost of sales is adjusted for changes in inventories and operating payables and for other non-cash items such as depreciation (IAS 7, para. 19).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The dividend paid to shareholders.","es":""},"correct":false,"feedback":{"fr":"","en":"Unrelated to suppliers.","es":""}},{"id":"B","text":{"fr":"","en":"The change in inventories.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The change in trade payables.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The change in trade receivables.","es":""},"correct":false,"feedback":{"fr":"","en":"It concerns customer receipts.","es":""}},{"id":"E","text":{"fr":"","en":"Depreciation included in cost of sales.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000131","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000009","tested_point":"VG.IAS7.000009","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"rule"},"references":["IAS 7 §19"],"exercise":{"prompt":{"fr":"","en":"Brivora made sales of {sales}, all on credit. Its trade receivables move from {opening_receivables} to {closing_receivables}. Compute cash received from customers.","es":""},"explanation":{"fr":"","en":"Sales adjusted for the change in receivables (IAS 7, para. 19): 2,860,000 + 410,000 − 495,000 = 2,775,000; the rise in receivables reduces receipts.","es":""},"common_error":{"fr":"","en":"Adding the increase in receivables.","es":""},"format":"CALCULATION","placeholders":[{"id":"sales","value":"2860000","unit":"EUR"},{"id":"opening_receivables","value":"410000","unit":"EUR"},{"id":"closing_receivables","value":"495000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Sales","es":""},"value":"2860000","unit":"EUR"},{"label":{"fr":"","en":"Opening trade receivables","es":""},"value":"410000","unit":"EUR"},{"label":{"fr":"","en":"Closing trade receivables","es":""},"value":"495000","unit":"EUR"}],"steps":[{"id":"RECEIPTS","label":{"fr":"","en":"Cash received from customers","es":""},"answer":2775000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"RECEIPTS","meaning":{"fr":"","en":"Cash received from customers","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Sales","es":""},"value":2860000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening trade receivables","es":""},"value":410000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing trade receivables","es":""},"value":495000,"unit":"EUR"}],"result":2775000,"unit":"EUR"}],"rationale":{"fr":"","en":"Sales adjusted for the change in receivables (IAS 7, para. 19): 2,860,000 + 410,000 − 495,000 = 2,775,000","es":""},"references":["REF.IAS7.19"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000132","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000009","tested_point":"VG.IAS7.000009","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"rule"},"references":["IAS 7 §19"],"exercise":{"prompt":{"fr":"","en":"During the year Peltane's credit sales reached {sales}; its receivables balance fell from {opening_receivables} at the start to {closing_receivables} at the end. What amount of customer receipts should be presented under the direct method?","es":""},"explanation":{"fr":"","en":"The fall in receivables means Peltane collected more than its sales (IAS 7, para. 19): 1,735,000 + 388,000 − 301,000 = 1,822,000.","es":""},"common_error":{"fr":"","en":"Reversing the direction of the change.","es":""},"format":"CALCULATION","placeholders":[{"id":"sales","value":"1735000","unit":"EUR"},{"id":"opening_receivables","value":"388000","unit":"EUR"},{"id":"closing_receivables","value":"301000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Credit sales","es":""},"value":"1735000","unit":"EUR"},{"label":{"fr":"","en":"Receivables at the start","es":""},"value":"388000","unit":"EUR"},{"label":{"fr":"","en":"Receivables at the end","es":""},"value":"301000","unit":"EUR"}],"steps":[{"id":"RECEIPTS","label":{"fr":"","en":"Customer receipts presented","es":""},"answer":1822000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"RECEIPTS","meaning":{"fr":"","en":"Customer receipts presented","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Credit sales","es":""},"value":1735000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Receivables at the start","es":""},"value":388000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Receivables at the end","es":""},"value":301000,"unit":"EUR"}],"result":1822000,"unit":"EUR","rationale":{"fr":"","en":"The fall in receivables means Peltane collected more than its sales (IAS 7, para. 19): 1,735,000 + 388,000 − 301,000 = 1,822,000.","es":""}}],"references":["REF.IAS7.19"]}},"scope":"CORE_STUDENT","reserve":true},{"key":"QST.IAS7.000133","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000010","tested_point":"VG.IAS7.000010","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"rule"},"references":["IAS 7 §19"],"exercise":{"prompt":{"fr":"","en":"Tolquine's cost of goods sold is {cost_of_sales}. Inventories move from {opening_inventory} to {closing_inventory}, trade payables from {opening_payables} to {closing_payables}. Compute purchases for the period and cash paid to suppliers.","es":""},"explanation":{"fr":"","en":"Purchases = 1,520,000 + 318,000 − 260,000 = 1,578,000; payments = 1,578,000 + 190,000 − 214,000 = 1,554,000, cost of sales adjusted for changes in inventories and payables (IAS 7, para. 19).","es":""},"common_error":{"fr":"","en":"Forgetting the change in inventories.","es":""},"format":"CALCULATION","placeholders":[{"id":"cost_of_sales","value":"1520000","unit":"EUR"},{"id":"opening_inventory","value":"260000","unit":"EUR"},{"id":"closing_inventory","value":"318000","unit":"EUR"},{"id":"opening_payables","value":"190000","unit":"EUR"},{"id":"closing_payables","value":"214000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Cost of goods sold","es":""},"value":"1520000","unit":"EUR"},{"label":{"fr":"","en":"Opening inventories","es":""},"value":"260000","unit":"EUR"},{"label":{"fr":"","en":"Closing inventories","es":""},"value":"318000","unit":"EUR"},{"label":{"fr":"","en":"Opening trade payables","es":""},"value":"190000","unit":"EUR"},{"label":{"fr":"","en":"Closing trade payables","es":""},"value":"214000","unit":"EUR"}],"steps":[{"id":"PURCHASES","label":{"fr":"","en":"Purchases for the period","es":""},"answer":1578000,"tolerance":0,"unit":"EUR"},{"id":"PAYMENTS","label":{"fr":"","en":"Cash paid to suppliers","es":""},"answer":1554000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"PURCHASES","meaning":{"fr":"","en":"Purchases for the period","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cost of goods sold","es":""},"value":1520000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Closing inventories","es":""},"value":318000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Opening inventories","es":""},"value":260000,"unit":"EUR"}],"result":1578000,"unit":"EUR"},{"step":"PAYMENTS","meaning":{"fr":"","en":"Cash paid to suppliers","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Purchases for the period","es":""},"value":1578000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening trade payables","es":""},"value":190000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing trade payables","es":""},"value":214000,"unit":"EUR"}],"result":1554000,"unit":"EUR","rationale":{"fr":"","en":"payments = 1,578,000 + 190,000 − 214,000 = 1,554,000, cost of sales adjusted for changes in inventories and payables (IAS 7, para. 19).","es":""}}],"references":["REF.IAS7.19"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000134","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000010","tested_point":"VG.IAS7.000010","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"rule"},"references":["IAS 7 §19"],"exercise":{"prompt":{"fr":"","en":"At Fenbris, a distributor, cost of sales is {cost_of_sales} for the year. Inventory fell from {opening_inventory} to {closing_inventory} and supplier credit lengthened, payables moving from {opening_payables} to {closing_payables}. Determine purchases and the amount paid to suppliers.","es":""},"explanation":{"fr":"","en":"Purchases = 3,140,000 + 612,000 − 705,000 = 3,047,000 (the fall in inventory reduces purchases); payments = 3,047,000 + 433,000 − 529,000 = 2,951,000 (longer credit reduces payments) (IAS 7, para. 19).","es":""},"common_error":{"fr":"","en":"Adding the fall in inventory to purchases.","es":""},"format":"CALCULATION","placeholders":[{"id":"cost_of_sales","value":"3140000","unit":"EUR"},{"id":"opening_inventory","value":"705000","unit":"EUR"},{"id":"closing_inventory","value":"612000","unit":"EUR"},{"id":"opening_payables","value":"433000","unit":"EUR"},{"id":"closing_payables","value":"529000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Cost of sales","es":""},"value":"3140000","unit":"EUR"},{"label":{"fr":"","en":"Inventory at the start","es":""},"value":"705000","unit":"EUR"},{"label":{"fr":"","en":"Inventory at the end","es":""},"value":"612000","unit":"EUR"},{"label":{"fr":"","en":"Payables at the start","es":""},"value":"433000","unit":"EUR"},{"label":{"fr":"","en":"Payables at the end","es":""},"value":"529000","unit":"EUR"}],"steps":[{"id":"PURCHASES","label":{"fr":"","en":"Purchases","es":""},"answer":3047000,"tolerance":0,"unit":"EUR"},{"id":"PAYMENTS","label":{"fr":"","en":"Amount paid to suppliers","es":""},"answer":2951000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"PURCHASES","meaning":{"fr":"","en":"Purchases","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cost of sales","es":""},"value":3140000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Inventory at the end","es":""},"value":612000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Inventory at the start","es":""},"value":705000,"unit":"EUR"}],"result":3047000,"unit":"EUR"},{"step":"PAYMENTS","meaning":{"fr":"","en":"Amount paid to suppliers","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Purchases","es":""},"value":3047000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Payables at the start","es":""},"value":433000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Payables at the end","es":""},"value":529000,"unit":"EUR"}],"result":2951000,"unit":"EUR"}],"references":["REF.IAS7.19"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000135","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000135","tested_point":"QST.IAS7.000135","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"rule"},"references":["IAS 7 §19"],"exercise":{"prompt":{"fr":"","en":"Zanbane's staff costs amount to {staff_costs}. Payroll liabilities (wages and contributions payable) move from {opening_payable} to {closing_payable}. Compute cash paid to and on behalf of employees.","es":""},"explanation":{"fr":"","en":"Expense adjusted for the change in operating payables (IAS 7, para. 19): 980,000 + 86,000 − 102,000 = 964,000.","es":""},"common_error":{"fr":"","en":"Using the expense as the payment.","es":""},"format":"CALCULATION","placeholders":[{"id":"staff_costs","value":"980000","unit":"EUR"},{"id":"opening_payable","value":"86000","unit":"EUR"},{"id":"closing_payable","value":"102000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Staff costs","es":""},"value":"980000","unit":"EUR"},{"label":{"fr":"","en":"Opening payroll liabilities","es":""},"value":"86000","unit":"EUR"},{"label":{"fr":"","en":"Closing payroll liabilities","es":""},"value":"102000","unit":"EUR"}],"steps":[{"id":"PAYMENTS","label":{"fr":"","en":"Cash paid to employees","es":""},"answer":964000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"PAYMENTS","meaning":{"fr":"","en":"Cash paid to employees","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Staff costs","es":""},"value":980000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening payroll liabilities","es":""},"value":86000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing payroll liabilities","es":""},"value":102000,"unit":"EUR"}],"result":964000,"unit":"EUR","rationale":{"fr":"","en":"Expense adjusted for the change in operating payables (IAS 7, para. 19): 980,000 + 86,000 − 102,000 = 964,000.","es":""}}],"references":["REF.IAS7.19"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000136","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000136","tested_point":"QST.IAS7.000136","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"rule"},"references":["IAS 7 §19"],"exercise":{"prompt":{"fr":"","en":"Velbris recognised revenue of {sales}. Its trade receivables move from {opening_receivables} to {closing_receivables} and advances received from customers (contract liabilities) from {opening_advances} to {closing_advances} (case data). Compute cash received from customers.","es":""},"explanation":{"fr":"","en":"Sales adjusted for changes in operating balances (IAS 7, para. 19): 4,200,000 + 620,000 − 705,000 + 215,000 − 140,000 = 4,190,000; the rise in advances reflects cash received not yet recognised as revenue.","es":""},"common_error":{"fr":"","en":"Deducting the rise in customer advances.","es":""},"format":"CALCULATION","placeholders":[{"id":"sales","value":"4200000","unit":"EUR"},{"id":"opening_receivables","value":"620000","unit":"EUR"},{"id":"closing_receivables","value":"705000","unit":"EUR"},{"id":"opening_advances","value":"140000","unit":"EUR"},{"id":"closing_advances","value":"215000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Revenue","es":""},"value":"4200000","unit":"EUR"},{"label":{"fr":"","en":"Opening receivables","es":""},"value":"620000","unit":"EUR"},{"label":{"fr":"","en":"Closing receivables","es":""},"value":"705000","unit":"EUR"},{"label":{"fr":"","en":"Opening customer advances","es":""},"value":"140000","unit":"EUR"},{"label":{"fr":"","en":"Closing customer advances","es":""},"value":"215000","unit":"EUR"}],"steps":[{"id":"RECEIPTS","label":{"fr":"","en":"Cash received from customers","es":""},"answer":4190000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"RECEIPTS","meaning":{"fr":"","en":"Cash received from customers","es":""},"expression":"a + b - c + d - e","variables":[{"symbol":"a","meaning":{"fr":"","en":"Revenue","es":""},"value":4200000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening receivables","es":""},"value":620000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing receivables","es":""},"value":705000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Closing customer advances","es":""},"value":215000,"unit":"EUR"},{"symbol":"e","meaning":{"fr":"","en":"Opening customer advances","es":""},"value":140000,"unit":"EUR"}],"result":4190000,"unit":"EUR","rationale":{"fr":"","en":"Sales adjusted for changes in operating balances (IAS 7, para. 19): 4,200,000 + 620,000 − 705,000 + 215,000 − 140,000 = 4,190,000","es":""}}],"references":["REF.IAS7.19"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000137","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000137","tested_point":"QST.IAS7.000137","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"rule"},"references":["IAS 7 §19"],"exercise":{"prompt":{"fr":"","en":"For its customer receipts, Quelsane computes: sales 900,000 + increase in receivables 60,000 = 960,000. What is the error?","es":""},"explanation":{"fr":"","en":"Sales are adjusted for the change in operating receivables (IAS 7, para. 19): an increase is uncollected sales, hence 900,000 − 60,000 = 840,000.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Only sales of 900,000 should be used, with no balance adjustment.","es":""},"correct":false,"feedback":{"fr":"","en":"The change in receivables must be considered.","es":""}},{"id":"B","text":{"fr":"","en":"There is no error.","es":""},"correct":false,"feedback":{"fr":"","en":"The sign is reversed.","es":""}},{"id":"C","text":{"fr":"","en":"The increase in receivables must be deducted: receipts of 840,000.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The increase in receivables belongs to investing.","es":""},"correct":false,"feedback":{"fr":"","en":"Trade receivables are operating.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000138","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000138","tested_point":"QST.IAS7.000138","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"rule"},"references":["IAS 7 §19"],"exercise":{"prompt":{"fr":"","en":"For its supplier payments, Ormane uses: cost of sales 1,200,000 + decrease in payables 40,000 = 1,240,000, although its inventory rose by 90,000. What is the error?","es":""},"explanation":{"fr":"","en":"Cost of sales is adjusted for changes in inventories and payables (IAS 7, para. 19): 1,200,000 + 90,000 + 40,000 = 1,330,000.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The decrease in payables should be deducted: payments of 1,160,000.","es":""},"correct":false,"feedback":{"fr":"","en":"A fall in payables increases payments.","es":""}},{"id":"B","text":{"fr":"","en":"The rise in inventory was forgotten: payments are 1,330,000.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The rise in inventory must be deducted: payments of 1,150,000.","es":""},"correct":false,"feedback":{"fr":"","en":"A rise in inventory increases purchases.","es":""}},{"id":"D","text":{"fr":"","en":"There is no error.","es":""},"correct":false,"feedback":{"fr":"","en":"The inventory change is missing.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000139","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.DIRECT_METHOD"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000139","tested_point":"QST.IAS7.000139","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000008","section_id":"rule"},"references":["IAS 7 §18","IAS 7 §19"],"exercise":{"prompt":{"fr":"","en":"Sarlane's “direct method” statement shows customer receipts, supplier payments, then “depreciation 150,000” and “provisions charged 30,000” as receipts. What is the error?","es":""},"explanation":{"fr":"","en":"The direct method presents gross receipts and payments (IAS 7, para. 18); when derived from profit, non-cash items are eliminated (IAS 7, para. 19). Mixing the two presentations is an error. Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Non-cash items have no place among gross cash flows.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"These charges should appear in investing.","es":""},"correct":false,"feedback":{"fr":"","en":"They are not cash flows.","es":""}},{"id":"C","text":{"fr":"","en":"They should be shown as payments instead of receipts.","es":""},"correct":false,"feedback":{"fr":"","en":"They are neither receipts nor payments.","es":""}},{"id":"D","text":{"fr":"","en":"There is no error: the direct method uses all expenses, including those with no payment.","es":""},"correct":false,"feedback":{"fr":"","en":"It shows actual gross flows.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000140","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000140","tested_point":"QST.IAS7.000140","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §18"],"exercise":{"prompt":{"fr":"","en":"Under the indirect method, net operating cash flow is determined by adjusting profit or loss for non-cash transactions, deferrals or accruals of operating receipts or payments, and items associated with investing or financing.","es":""},"explanation":{"fr":"","en":"The indirect method starts from profit or loss and adjusts it for non-cash transactions, deferrals or accruals of operating receipts or payments, and items associated with investing or financing cash flows (IAS 7, para. 18). Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Forgetting items associated with investing.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000141","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000141","tested_point":"QST.IAS7.000141","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"Under the indirect method, the undistributed share of profit of an associate is a non-cash item to remove from profit.","es":""},"explanation":{"fr":"","en":"Non-cash items adjusted under the indirect method include depreciation, provisions, deferred taxes, unrealised foreign currency gains and losses and undistributed profits of associates (IAS 7, para. 20). Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Leaving the share in operating cash flow.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000142","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000142","tested_point":"QST.IAS7.000142","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §18"],"exercise":{"prompt":{"fr":"","en":"What is the starting point of the indirect method (wording applicable before 2027)?","es":""},"explanation":{"fr":"","en":"Under the indirect method, profit or loss is adjusted to arrive at net operating cash flow (IAS 7, para. 18). Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Profit or loss for the period.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Total cash received from customers during the period.","es":""},"correct":false,"feedback":{"fr":"","en":"That would be the direct method.","es":""}},{"id":"C","text":{"fr":"","en":"Opening cash.","es":""},"correct":false,"feedback":{"fr":"","en":"Opening cash is used in the final reconciliation.","es":""}},{"id":"D","text":{"fr":"","en":"Revenue.","es":""},"correct":false,"feedback":{"fr":"","en":"This is not the starting point.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000143","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000143","tested_point":"QST.IAS7.000143","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"How is a net provision charge treated under the indirect method?","es":""},"explanation":{"fr":"","en":"Provisions are among the non-cash items adjusted under the indirect method (IAS 7, para. 20). Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It is presented as an operating payment of the current period.","es":""},"correct":false,"feedback":{"fr":"","en":"The charge pays nothing out.","es":""}},{"id":"B","text":{"fr":"","en":"It is added back to profit as a non-cash item.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"It is classified as financing.","es":""},"correct":false,"feedback":{"fr":"","en":"It is not a cash flow.","es":""}},{"id":"D","text":{"fr":"","en":"It is ignored, the provision being a liability.","es":""},"correct":false,"feedback":{"fr":"","en":"It must be added back.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000144","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000144","tested_point":"QST.IAS7.000144","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"Which alternative presentation of the indirect method does the standard allow?","es":""},"explanation":{"fr":"","en":"Net operating cash flow may also be presented under the indirect method by showing revenue and expenses and the changes in inventories and operating receivables and payables (IAS 7, para. 20). Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Presenting a single operating flow with no detail.","es":""},"correct":false,"feedback":{"fr":"","en":"This is not the alternative presentation.","es":""}},{"id":"B","text":{"fr":"","en":"Including investing flows in operating flow.","es":""},"correct":false,"feedback":{"fr":"","en":"Activities remain separate.","es":""}},{"id":"C","text":{"fr":"","en":"Showing income and expenses, then changes in inventories and operating receivables and payables.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Starting from closing cash and working back to opening cash by deducting each balance sheet change.","es":""},"correct":false,"feedback":{"fr":"","en":"Not a presentation provided for.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000145","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000145","tested_point":"QST.IAS7.000145","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"Which of these items are added back or deducted as non-cash items under the indirect method?","es":""},"explanation":{"fr":"","en":"The standard lists depreciation, provisions, deferred taxes, unrealised foreign currency gains and losses and undistributed profits of associates as non-cash items (IAS 7, para. 20). Wording before IFRS 18.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Collection of a trade receivable.","es":""},"correct":false,"feedback":{"fr":"","en":"Actual flow, captured via the change in receivables.","es":""}},{"id":"B","text":{"fr":"","en":"Depreciation.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Deferred tax expense.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Unrealised exchange loss on a foreign-currency loan.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Wages paid to employees.","es":""},"correct":false,"feedback":{"fr":"","en":"Actual payment.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000146","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000146","tested_point":"QST.IAS7.000146","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"In Torbris's indirect reconciliation, which adjustments are deducted from profit?","es":""},"explanation":{"fr":"","en":"Profit is adjusted for changes in inventories, operating receivables and payables and for items whose cash effects are investing (IAS 7, para. 20): increases in inventories and receivables and gains on disposal are deducted. Wording before IFRS 18.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Increase in trade payables.","es":""},"correct":false,"feedback":{"fr":"","en":"It is added.","es":""}},{"id":"B","text":{"fr":"","en":"Increase in trade receivables.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Depreciation charge.","es":""},"correct":false,"feedback":{"fr":"","en":"It is added.","es":""}},{"id":"D","text":{"fr":"","en":"Increase in inventories.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Gain on disposal of a machine.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000147","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000011","tested_point":"VG.IAS7.000011","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"Nalbris's profit: {profit}. Depreciation: {depreciation}. Trade receivables increase by {receivables_increase}, inventories decrease by {inventory_decrease} and trade payables increase by {payables_increase}. Compute net operating cash flow (indirect method).","es":""},"explanation":{"fr":"","en":"540,000 + 185,000 − 72,000 + 38,000 + 21,000 = 712,000: profit is adjusted for non-cash items and changes in inventories, operating receivables and payables (IAS 7, para. 20). Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Adding the increase in receivables.","es":""},"format":"CALCULATION","placeholders":[{"id":"profit","value":"540000","unit":"EUR"},{"id":"depreciation","value":"185000","unit":"EUR"},{"id":"receivables_increase","value":"72000","unit":"EUR"},{"id":"inventory_decrease","value":"38000","unit":"EUR"},{"id":"payables_increase","value":"21000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Profit","es":""},"value":"540000","unit":"EUR"},{"label":{"fr":"","en":"Depreciation","es":""},"value":"185000","unit":"EUR"},{"label":{"fr":"","en":"Increase in receivables","es":""},"value":"72000","unit":"EUR"},{"label":{"fr":"","en":"Decrease in inventories","es":""},"value":"38000","unit":"EUR"},{"label":{"fr":"","en":"Increase in payables","es":""},"value":"21000","unit":"EUR"}],"steps":[{"id":"OPERATING_CASH_FLOW","label":{"fr":"","en":"Net operating cash flow","es":""},"answer":712000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"OPERATING_CASH_FLOW","meaning":{"fr":"","en":"Net operating cash flow","es":""},"expression":"a + b - c + d + e","variables":[{"symbol":"a","meaning":{"fr":"","en":"Profit","es":""},"value":540000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Depreciation","es":""},"value":185000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Increase in receivables","es":""},"value":72000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Decrease in inventories","es":""},"value":38000,"unit":"EUR"},{"symbol":"e","meaning":{"fr":"","en":"Increase in payables","es":""},"value":21000,"unit":"EUR"}],"result":712000,"unit":"EUR","rationale":{"fr":"","en":"540,000 + 185,000 − 72,000 + 38,000 + 21,000 = 712,000: profit is adjusted for non-cash items and changes in inventories, operating receivables and payables (IAS 7, para. 20).","es":""}}],"references":["REF.IAS7.20"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000148","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000011","tested_point":"VG.IAS7.000011","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"This year Ervelle reports profit of {profit} after {depreciation} of depreciation. Its customers paid faster (receivables down by {receivables_decrease}), but it built up stock (increase of {inventory_increase}) and paid some suppliers earlier (payables down by {payables_decrease}). What is its net operating cash flow under the indirect method?","es":""},"explanation":{"fr":"","en":"215,000 + 96,000 + 44,000 − 130,000 − 27,000 = 198,000 (IAS 7, para. 20): building up stock and paying suppliers sooner consume cash. Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Adding the increase in inventories.","es":""},"format":"CALCULATION","placeholders":[{"id":"profit","value":"215000","unit":"EUR"},{"id":"depreciation","value":"96000","unit":"EUR"},{"id":"receivables_decrease","value":"44000","unit":"EUR"},{"id":"inventory_increase","value":"130000","unit":"EUR"},{"id":"payables_decrease","value":"27000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Profit","es":""},"value":"215000","unit":"EUR"},{"label":{"fr":"","en":"Depreciation","es":""},"value":"96000","unit":"EUR"},{"label":{"fr":"","en":"Decrease in receivables","es":""},"value":"44000","unit":"EUR"},{"label":{"fr":"","en":"Increase in inventories","es":""},"value":"130000","unit":"EUR"},{"label":{"fr":"","en":"Decrease in payables","es":""},"value":"27000","unit":"EUR"}],"steps":[{"id":"OPERATING_CASH_FLOW","label":{"fr":"","en":"Net operating cash flow","es":""},"answer":198000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"OPERATING_CASH_FLOW","meaning":{"fr":"","en":"Net operating cash flow","es":""},"expression":"a + b + c - d - e","variables":[{"symbol":"a","meaning":{"fr":"","en":"Profit","es":""},"value":215000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Depreciation","es":""},"value":96000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Decrease in receivables","es":""},"value":44000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Increase in inventories","es":""},"value":130000,"unit":"EUR"},{"symbol":"e","meaning":{"fr":"","en":"Decrease in payables","es":""},"value":27000,"unit":"EUR"}],"result":198000,"unit":"EUR","rationale":{"fr":"","en":"215,000 + 96,000 + 44,000 − 130,000 − 27,000 = 198,000 (IAS 7, para. 20): building up stock and paying suppliers sooner consume cash.","es":""}}],"references":["REF.IAS7.20"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000149","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000149","tested_point":"QST.IAS7.000149","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"Torbane's profit: {profit}. It includes depreciation of {depreciation}, a net provision charge of {provision_charge} and a gain on disposal of a machine of {gain_on_disposal}. Working capital changes amount to a net outflow of {working_capital_outflow}. Compute net operating cash flow.","es":""},"explanation":{"fr":"","en":"690,000 + 240,000 + 55,000 − 48,000 − 117,000 = 820,000. Depreciation and provisions are non-cash; the gain on disposal is removed because its cash flow is investing (IAS 7, para. 20). Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Leaving the gain in operating cash flow.","es":""},"format":"CALCULATION","placeholders":[{"id":"profit","value":"690000","unit":"EUR"},{"id":"depreciation","value":"240000","unit":"EUR"},{"id":"provision_charge","value":"55000","unit":"EUR"},{"id":"gain_on_disposal","value":"48000","unit":"EUR"},{"id":"working_capital_outflow","value":"117000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Profit","es":""},"value":"690000","unit":"EUR"},{"label":{"fr":"","en":"Depreciation","es":""},"value":"240000","unit":"EUR"},{"label":{"fr":"","en":"Net provision charge","es":""},"value":"55000","unit":"EUR"},{"label":{"fr":"","en":"Gain on disposal","es":""},"value":"48000","unit":"EUR"},{"label":{"fr":"","en":"Working capital outflow","es":""},"value":"117000","unit":"EUR"}],"steps":[{"id":"OPERATING_CASH_FLOW","label":{"fr":"","en":"Net operating cash flow","es":""},"answer":820000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"OPERATING_CASH_FLOW","meaning":{"fr":"","en":"Net operating cash flow","es":""},"expression":"a + b + c - d - e","variables":[{"symbol":"a","meaning":{"fr":"","en":"Profit","es":""},"value":690000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Depreciation","es":""},"value":240000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Net provision charge","es":""},"value":55000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Gain on disposal","es":""},"value":48000,"unit":"EUR"},{"symbol":"e","meaning":{"fr":"","en":"Working capital outflow","es":""},"value":117000,"unit":"EUR"}],"result":820000,"unit":"EUR"}],"references":["REF.IAS7.20"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000150","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000150","tested_point":"QST.IAS7.000150","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"Vervane's consolidated profit: {profit}, including a share of profit of an associate of {associate_share}; the associate paid {dividend_received} of dividends, classified as operating under the group's policy (case data). Other items: depreciation {depreciation}, deferred tax expense {deferred_tax}, unrealised exchange loss on a loan {unrealised_fx_loss}. Compute net operating cash flow (working capital assumed unchanged).","es":""},"explanation":{"fr":"","en":"1,180,000 − 160,000 + 70,000 + 310,000 + 42,000 + 19,000 = 1,461,000: the undistributed share, deferred tax, depreciation and the unrealised exchange loss are non-cash (IAS 7, para. 20); only the dividend received (classified here as operating) is a cash flow. Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Keeping the share of the associate in the flow.","es":""},"format":"CALCULATION","placeholders":[{"id":"profit","value":"1180000","unit":"EUR"},{"id":"associate_share","value":"160000","unit":"EUR"},{"id":"dividend_received","value":"70000","unit":"EUR"},{"id":"depreciation","value":"310000","unit":"EUR"},{"id":"deferred_tax","value":"42000","unit":"EUR"},{"id":"unrealised_fx_loss","value":"19000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Consolidated profit","es":""},"value":"1180000","unit":"EUR"},{"label":{"fr":"","en":"Share of associate profit","es":""},"value":"160000","unit":"EUR"},{"label":{"fr":"","en":"Dividends received from the associate","es":""},"value":"70000","unit":"EUR"},{"label":{"fr":"","en":"Depreciation","es":""},"value":"310000","unit":"EUR"},{"label":{"fr":"","en":"Deferred tax expense","es":""},"value":"42000","unit":"EUR"},{"label":{"fr":"","en":"Unrealised exchange loss","es":""},"value":"19000","unit":"EUR"}],"steps":[{"id":"OPERATING_CASH_FLOW","label":{"fr":"","en":"Net operating cash flow","es":""},"answer":1461000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"OPERATING_CASH_FLOW","meaning":{"fr":"","en":"Net operating cash flow","es":""},"expression":"a - b + c + d + e + f","variables":[{"symbol":"a","meaning":{"fr":"","en":"Consolidated profit","es":""},"value":1180000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Share of associate profit","es":""},"value":160000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Dividends received from the associate","es":""},"value":70000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Depreciation","es":""},"value":310000,"unit":"EUR"},{"symbol":"e","meaning":{"fr":"","en":"Deferred tax expense","es":""},"value":42000,"unit":"EUR"},{"symbol":"f","meaning":{"fr":"","en":"Unrealised exchange loss","es":""},"value":19000,"unit":"EUR"}],"result":1461000,"unit":"EUR","rationale":{"fr":"","en":"1,180,000 − 160,000 + 70,000 + 310,000 + 42,000 + 19,000 = 1,461,000: the undistributed share, deferred tax, depreciation and the unrealised exchange loss are non-cash (IAS 7, para. 20)","es":""}}],"references":["REF.IAS7.20"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000151","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000151","tested_point":"QST.IAS7.000151","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"Delvane's warranty provision moves from {opening_provision} to {closing_provision}; the charge for the year is {provision_charge} and uses (repairs paid) make up the rest of the movement. Profit is {profit}, depreciation {depreciation}; no other changes (case data). Compute the provision adjustment and net operating cash flow.","es":""},"explanation":{"fr":"","en":"Uses paid: 150,000 + 64,000 − 128,000 = 86,000. The charge (+64,000) is non-cash and repairs paid are outflows: net adjustment = 128,000 − 150,000 = −22,000 (IAS 7, para. 20); flow = 402,000 + 88,000 + (−22,000) = 468,000. Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Adding back only the charge and forgetting the uses paid.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_provision","value":"150000","unit":"EUR"},{"id":"closing_provision","value":"128000","unit":"EUR"},{"id":"provision_charge","value":"64000","unit":"EUR"},{"id":"profit","value":"402000","unit":"EUR"},{"id":"depreciation","value":"88000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Opening provision","es":""},"value":"150000","unit":"EUR"},{"label":{"fr":"","en":"Closing provision","es":""},"value":"128000","unit":"EUR"},{"label":{"fr":"","en":"Charge for the year","es":""},"value":"64000","unit":"EUR"},{"label":{"fr":"","en":"Profit","es":""},"value":"402000","unit":"EUR"},{"label":{"fr":"","en":"Depreciation","es":""},"value":"88000","unit":"EUR"}],"steps":[{"id":"PROVISION_ADJUSTMENT","label":{"fr":"","en":"Net provision adjustment (negative if a decrease)","es":""},"answer":-22000,"tolerance":0,"unit":"EUR"},{"id":"OPERATING_CASH_FLOW","label":{"fr":"","en":"Net operating cash flow","es":""},"answer":468000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"PROVISION_ADJUSTMENT","meaning":{"fr":"","en":"Net provision adjustment (negative if a decrease)","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Closing provision","es":""},"value":128000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening provision","es":""},"value":150000,"unit":"EUR"}],"result":-22000,"unit":"EUR","rationale":{"fr":"","en":"The charge (+64,000) is non-cash and repairs paid are outflows: net adjustment = 128,000 − 150,000 = −22,000 (IAS 7, para. 20)","es":""}}],"references":["REF.IAS7.20"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000152","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000152","tested_point":"QST.IAS7.000152","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":260,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"Torvane starts from its profit before tax of {profit_before_tax} (presentation chosen by the entity, case data). It includes depreciation {depreciation}, loss on disposal {loss_on_disposal} and interest expense {interest_expense}; interest paid is classified as financing (entity policy). Inventories rise by {inventory_increase}, receivables fall by {receivables_decrease}, payables rise by {payables_increase}. Tax paid is {tax_paid}. Compute net operating cash flow.","es":""},"explanation":{"fr":"","en":"870,000 + 264,000 + 17,000 + 53,000 − 91,000 + 36,000 + 28,000 − 204,000 = 973,000. The loss on disposal and interest expense are added back because their flows are investing and, under the entity’s policy, financing (IAS 7, para. 20); tax paid remains operating. Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Deducting the loss on disposal instead of adding it back.","es":""},"format":"CALCULATION","placeholders":[{"id":"profit_before_tax","value":"870000","unit":"EUR"},{"id":"depreciation","value":"264000","unit":"EUR"},{"id":"loss_on_disposal","value":"17000","unit":"EUR"},{"id":"interest_expense","value":"53000","unit":"EUR"},{"id":"inventory_increase","value":"91000","unit":"EUR"},{"id":"receivables_decrease","value":"36000","unit":"EUR"},{"id":"payables_increase","value":"28000","unit":"EUR"},{"id":"tax_paid","value":"204000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Profit before tax","es":""},"value":"870000","unit":"EUR"},{"label":{"fr":"","en":"Depreciation","es":""},"value":"264000","unit":"EUR"},{"label":{"fr":"","en":"Loss on disposal","es":""},"value":"17000","unit":"EUR"},{"label":{"fr":"","en":"Interest expense","es":""},"value":"53000","unit":"EUR"},{"label":{"fr":"","en":"Increase in inventories","es":""},"value":"91000","unit":"EUR"},{"label":{"fr":"","en":"Decrease in receivables","es":""},"value":"36000","unit":"EUR"},{"label":{"fr":"","en":"Increase in payables","es":""},"value":"28000","unit":"EUR"},{"label":{"fr":"","en":"Tax paid","es":""},"value":"204000","unit":"EUR"}],"steps":[{"id":"OPERATING_CASH_FLOW","label":{"fr":"","en":"Net operating cash flow","es":""},"answer":973000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"OPERATING_CASH_FLOW","meaning":{"fr":"","en":"Net operating cash flow","es":""},"expression":"a + b + c + d - e + f + g - h","variables":[{"symbol":"a","meaning":{"fr":"","en":"Profit before tax","es":""},"value":870000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Depreciation","es":""},"value":264000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Loss on disposal","es":""},"value":17000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Interest expense","es":""},"value":53000,"unit":"EUR"},{"symbol":"e","meaning":{"fr":"","en":"Increase in inventories","es":""},"value":91000,"unit":"EUR"},{"symbol":"f","meaning":{"fr":"","en":"Decrease in receivables","es":""},"value":36000,"unit":"EUR"},{"symbol":"g","meaning":{"fr":"","en":"Increase in payables","es":""},"value":28000,"unit":"EUR"},{"symbol":"h","meaning":{"fr":"","en":"Tax paid","es":""},"value":204000,"unit":"EUR"}],"result":973000,"unit":"EUR"}],"references":["REF.IAS7.20"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000153","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000153","tested_point":"QST.IAS7.000153","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":260,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"Sorlane's balance sheets: inventories {opening_inventory} then {closing_inventory}; trade receivables {opening_receivables} then {closing_receivables}; prepayments {opening_prepaid} then {closing_prepaid}; trade payables {opening_payables} then {closing_payables}. Profit {profit}, depreciation {depreciation}. Compute the net working capital effect (negative if an outflow) and net operating cash flow.","es":""},"explanation":{"fr":"","en":"Inventories +25,000, receivables −86,000, prepayments −7,000, payables −25,000: net effect −93,000; flow = 356,000 + 147,000 + (−93,000) = 410,000, profit being adjusted for changes in inventories and operating receivables and payables (IAS 7, para. 20). Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Reversing the sign of payables.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_inventory","value":"480000","unit":"EUR"},{"id":"closing_inventory","value":"455000","unit":"EUR"},{"id":"opening_receivables","value":"612000","unit":"EUR"},{"id":"closing_receivables","value":"698000","unit":"EUR"},{"id":"opening_prepaid","value":"24000","unit":"EUR"},{"id":"closing_prepaid","value":"31000","unit":"EUR"},{"id":"opening_payables","value":"377000","unit":"EUR"},{"id":"closing_payables","value":"352000","unit":"EUR"},{"id":"profit","value":"356000","unit":"EUR"},{"id":"depreciation","value":"147000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Opening inventories","es":""},"value":"480000","unit":"EUR"},{"label":{"fr":"","en":"Closing inventories","es":""},"value":"455000","unit":"EUR"},{"label":{"fr":"","en":"Opening receivables","es":""},"value":"612000","unit":"EUR"},{"label":{"fr":"","en":"Closing receivables","es":""},"value":"698000","unit":"EUR"},{"label":{"fr":"","en":"Opening prepayments","es":""},"value":"24000","unit":"EUR"},{"label":{"fr":"","en":"Closing prepayments","es":""},"value":"31000","unit":"EUR"},{"label":{"fr":"","en":"Opening payables","es":""},"value":"377000","unit":"EUR"},{"label":{"fr":"","en":"Closing payables","es":""},"value":"352000","unit":"EUR"},{"label":{"fr":"","en":"Profit","es":""},"value":"356000","unit":"EUR"},{"label":{"fr":"","en":"Depreciation","es":""},"value":"147000","unit":"EUR"}],"steps":[{"id":"WORKING_CAPITAL_EFFECT","label":{"fr":"","en":"Net working capital effect","es":""},"answer":-93000,"tolerance":0,"unit":"EUR"},{"id":"OPERATING_CASH_FLOW","label":{"fr":"","en":"Net operating cash flow","es":""},"answer":410000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000154","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000154","tested_point":"QST.IAS7.000154","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"In Halvora's reconciliation, the 80,000 increase in inventories is added to profit, “because inventories are an asset of the entity”. What is the error?","es":""},"explanation":{"fr":"","en":"Profit is adjusted for changes in inventories (IAS 7, para. 20): stock bought but not yet sold was paid without reducing profit, hence a deduction of 80,000. Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The change in inventories must never appear in the indirect method.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard expressly covers it.","es":""}},{"id":"B","text":{"fr":"","en":"The change in inventories belongs to investing.","es":""},"correct":false,"feedback":{"fr":"","en":"Inventories are operating assets.","es":""}},{"id":"C","text":{"fr":"","en":"There is no error.","es":""},"correct":false,"feedback":{"fr":"","en":"The sign is reversed.","es":""}},{"id":"D","text":{"fr":"","en":"An increase in inventories consumes cash and is deducted from profit.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000155","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000155","tested_point":"QST.IAS7.000155","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"Rosdane sold a warehouse at a gain of 120,000; its indirect reconciliation leaves this gain in profit, and the price of 640,000 also appears in investing. What is the error?","es":""},"explanation":{"fr":"","en":"Profit is adjusted for items whose cash effects are investing (IAS 7, para. 20): the 120,000 gain is removed, the price of 640,000 remaining in investing. Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The sale price should be presented as operating.","es":""},"correct":false,"feedback":{"fr":"","en":"The price is investing.","es":""}},{"id":"B","text":{"fr":"","en":"The 120,000 gain must be deducted from operating cash flow, or it is counted twice.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Investing should show only 520,000, the gain remaining in the operating cash flow of the reconciliation.","es":""},"correct":false,"feedback":{"fr":"","en":"The price received appears there.","es":""}},{"id":"D","text":{"fr":"","en":"There is no error.","es":""},"correct":false,"feedback":{"fr":"","en":"The gain is counted twice.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000156","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000156","tested_point":"QST.IAS7.000156","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"In Belquine's statement, the 90,000 litigation provision charge is deducted from profit, “because it is an expense to be paid”. No payment occurred. What is the error?","es":""},"explanation":{"fr":"","en":"Provisions are non-cash items adjusted under the indirect method (IAS 7, para. 20): the charge that reduced profit is added back; the future payment will be a flow of the period in which it occurs. Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The non-cash charge must be added back (+90,000), not deducted.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The charge should be classified as financing.","es":""},"correct":false,"feedback":{"fr":"","en":"It is not a cash flow.","es":""}},{"id":"C","text":{"fr":"","en":"There is no error, the litigation provision already reflecting a future payment.","es":""},"correct":false,"feedback":{"fr":"","en":"A future payment is not a flow of the period.","es":""}},{"id":"D","text":{"fr":"","en":"It should deduct 180,000.","es":""},"correct":false,"feedback":{"fr":"","en":"No basis for this amount.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000157","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000157","tested_point":"QST.IAS7.000157","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":170,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"Quelbane recognises a share of profit of its joint venture of 250,000, of which 90,000 was paid to it as dividends. Its indirect reconciliation does not adjust the share and also presents the 90,000 as an investing inflow, in line with its method for classifying dividends received (case data). What is the error?","es":""},"explanation":{"fr":"","en":"Undistributed profits of associates are non-cash items to eliminate (IAS 7, para. 20); the dividend received is the only cash flow and is presented once, according to the classification policy chosen. Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Only 160,000 should be removed from profit and nothing should appear in investing for this joint venture.","es":""},"correct":false,"feedback":{"fr":"","en":"A possible presentation only for an entity that classifies dividends received as operating, which is not Quelbane’s method.","es":""}},{"id":"B","text":{"fr":"","en":"The share of profit is an operating receipt.","es":""},"correct":false,"feedback":{"fr":"","en":"The share is not received.","es":""}},{"id":"C","text":{"fr":"","en":"There is no error.","es":""},"correct":false,"feedback":{"fr":"","en":"The undistributed share inflates the flow.","es":""}},{"id":"D","text":{"fr":"","en":"The 250,000 is removed from profit; only the 90,000 dividend is a cash flow, classified once.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000158","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000158","tested_point":"QST.IAS7.000158","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"Nervane's operating cash flow is 1.1 million while its profit is only 300,000. The analyst notes a sharp fall in receivables and a rise in trade payables. Which explanation is consistent with the indirect method?","es":""},"explanation":{"fr":"","en":"Profit is adjusted for changes in operating receivables and payables (IAS 7, para. 20): a fall in receivables and a rise in payables increase operating cash flow relative to profit. Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Profit is wrong, as it must equal net operating cash flow for the period under the indirect method.","es":""},"correct":false,"feedback":{"fr":"","en":"Profit and cash flow normally differ.","es":""}},{"id":"B","text":{"fr":"","en":"The fall in receivables reduces operating cash flow.","es":""},"correct":false,"feedback":{"fr":"","en":"It increases it.","es":""}},{"id":"C","text":{"fr":"","en":"Collecting old receivables and deferring supplier payments improved cash beyond profit.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Trade payables belong to financing.","es":""},"correct":false,"feedback":{"fr":"","en":"They are operating payables.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000159","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000159","tested_point":"QST.IAS7.000159","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"Ulvora's draft reconciliation: profit 500,000; + depreciation 140,000; + gain on disposal 35,000; − provision charge 25,000; − increase in receivables 60,000. What is the corrected operating cash flow?","es":""},"explanation":{"fr":"","en":"The gain on disposal is deducted (its cash flow is investing) and the non-cash provision charge is added back (IAS 7, para. 20): 500,000 + 140,000 − 35,000 + 25,000 − 60,000 = 570,000. Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"590,000, correcting only the sign of the gain.","es":""},"correct":false,"feedback":{"fr":"","en":"The sign of the provision is also wrong.","es":""}},{"id":"B","text":{"fr":"","en":"640,000, correcting only the provision.","es":""},"correct":false,"feedback":{"fr":"","en":"The gain must also be deducted.","es":""}},{"id":"C","text":{"fr":"","en":"570,000.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"590,000, the draft figure, with no correction.","es":""},"correct":false,"feedback":{"fr":"","en":"The draft has two sign errors.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000160","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000160","tested_point":"QST.IAS7.000160","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §20"],"exercise":{"prompt":{"fr":"","en":"Ostmira, a holding company, reports profit of 2 million, of which 1.4 million is its share of associates, which paid it only 0.3 million in dividends (classified as operating under its policy, case data). Its published operating cash flow is 2.2 million before any other adjustment. What conclusion should be drawn?","es":""},"explanation":{"fr":"","en":"Undistributed profits of associates are non-cash items (IAS 7, para. 20): 1.4 − 0.3 = 1.1 million to eliminate; the published flow is overstated by that amount. Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The flow is understated: the share of associates must be added to profit, in addition to the dividends received.","es":""},"correct":false,"feedback":{"fr":"","en":"It is already in profit and not received.","es":""}},{"id":"B","text":{"fr":"","en":"The flow is correct, the share being genuine group income.","es":""},"correct":false,"feedback":{"fr":"","en":"Income is not a receipt.","es":""}},{"id":"C","text":{"fr":"","en":"The dividends must be excluded from the statement.","es":""},"correct":false,"feedback":{"fr":"","en":"Dividends received are cash flows.","es":""}},{"id":"D","text":{"fr":"","en":"The flow is overstated: the undistributed share of 1.1 million has not been eliminated.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000161","standard_id":"IAS7","concept_ids":["IAS7.GROSS_NET.NET_BASIS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000161","tested_point":"QST.IAS7.000161","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000010","section_id":"gross-rule"},"references":["IAS 7 §21"],"exercise":{"prompt":{"fr":"","en":"An entity may present its acquisitions and disposals of property, plant and equipment for the period as a single net amount.","es":""},"explanation":{"fr":"","en":"The entity reports separately major classes of gross cash receipts and payments arising from investing and financing activities, except for cash flows reported on a net basis under paras 22 and 24 (IAS 7, para. 21).","es":""},"common_error":{"fr":"","en":"Offsetting acquisitions and disposals of PPE.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000162","standard_id":"IAS7","concept_ids":["IAS7.GROSS_NET.NET_BASIS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000162","tested_point":"QST.IAS7.000162","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000010","section_id":"gross-rule"},"references":["IAS 7 §24"],"exercise":{"prompt":{"fr":"","en":"A financial institution may report on a net basis cash flows from advances and loans made to customers and their repayment.","es":""},"explanation":{"fr":"","en":"A financial institution may report on a net basis cash flows relating to fixed maturity deposits, deposits placed with other institutions, and advances and loans made to customers and their repayment (IAS 7, para. 24).","es":""},"common_error":{"fr":"","en":"Extending this option to a manufacturer.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000163","standard_id":"IAS7","concept_ids":["IAS7.GROSS_NET.NET_BASIS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000163","tested_point":"QST.IAS7.000163","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000010","section_id":"gross-rule"},"references":["IAS 7 §22"],"exercise":{"prompt":{"fr":"","en":"In which case may cash flows be reported on a net basis under the general provision?","es":""},"explanation":{"fr":"","en":"Cash flows may be reported net when they are (a) receipts and payments on behalf of customers reflecting the customer's activities, or (b) items with quick turnover, large amounts and short maturities (IAS 7, para. 22).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Receipts and payments on behalf of customers reflecting the customer’s activities, or items with quick turnover, large amounts and short maturities.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"All flows whose individual amount exceeds a materiality threshold set by management in its accounting policy.","es":""},"correct":false,"feedback":{"fr":"","en":"No such threshold.","es":""}},{"id":"C","text":{"fr":"","en":"Long-term borrowing flows, whose net presentation of drawdowns and repayments simplifies the reading of financing.","es":""},"correct":false,"feedback":{"fr":"","en":"Long loans are not quick-turnover items.","es":""}},{"id":"D","text":{"fr":"","en":"Investing flows of the same nature, for example the year's acquisitions and disposals of fixed assets.","es":""},"correct":false,"feedback":{"fr":"","en":"Gross remains the rule.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000164","standard_id":"IAS7","concept_ids":["IAS7.GROSS_NET.NET_BASIS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000164","tested_point":"QST.IAS7.000164","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000010","section_id":"gross-rule"},"references":["IAS 7 §23"],"exercise":{"prompt":{"fr":"","en":"Which of these examples is a flow on behalf of customers that may be presented net?","es":""},"explanation":{"fr":"","en":"Examples of flows on behalf of customers: a bank accepting and repaying demand deposits, funds held for customers by an investment entity, rents collected on behalf of and paid over to property owners (IAS 7, para. 23).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The entity's sales of goods to its own regular customers.","es":""},"correct":false,"feedback":{"fr":"","en":"These are its own activities.","es":""}},{"id":"B","text":{"fr":"","en":"Rents collected on behalf of property owners and paid over to them.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The entity's acquisitions of PPE.","es":""},"correct":false,"feedback":{"fr":"","en":"Gross required.","es":""}},{"id":"D","text":{"fr":"","en":"Drawdowns on a 7-year loan.","es":""},"correct":false,"feedback":{"fr":"","en":"Gross required.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000165","standard_id":"IAS7","concept_ids":["IAS7.GROSS_NET.NET_BASIS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000165","tested_point":"QST.IAS7.000165","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000010","section_id":"gross-rule"},"references":["IAS 7 §23A"],"exercise":{"prompt":{"fr":"","en":"Which of these examples corresponds to items with quick turnover, large amounts and short maturities?","es":""},"explanation":{"fr":"","en":"Quick-turnover items include advances and repayments of principal on credit card customers’ balances, the purchase and sale of investments, and other short-term borrowings, for example with a maturity of three months or less (IAS 7, para. 23A).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Lease payments on a headquarters leased for 12 years, paid monthly.","es":""},"correct":false,"feedback":{"fr":"","en":"Long maturity.","es":""}},{"id":"B","text":{"fr":"","en":"Dividends paid to shareholders.","es":""},"correct":false,"feedback":{"fr":"","en":"Not a quick-turnover item.","es":""}},{"id":"C","text":{"fr":"","en":"Cash sales of goods.","es":""},"correct":false,"feedback":{"fr":"","en":"Operating flow presented gross.","es":""}},{"id":"D","text":{"fr":"","en":"Advances and repayments of principal on customers’ credit card balances.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000166","standard_id":"IAS7","concept_ids":["IAS7.GROSS_NET.NET_BASIS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000166","tested_point":"QST.IAS7.000166","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000010","section_id":"gross-rule"},"references":["IAS 7 §22","IAS 7 §23","IAS 7 §23A"],"exercise":{"prompt":{"fr":"","en":"Which of these flows may be presented net?","es":""},"explanation":{"fr":"","en":"Net presentation is allowed for flows on behalf of customers and quick-turnover items (IAS 7, para. 22), for which the standard gives examples (IAS 7, paras. 23 and 23A); PPE and long-term borrowing flows remain gross.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Purchase and sale of quick-turnover investments.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Purchases and sales of machines.","es":""},"correct":false,"feedback":{"fr":"","en":"Gross required.","es":""}},{"id":"C","text":{"fr":"","en":"Issue and repayment of an 8-year bond.","es":""},"correct":false,"feedback":{"fr":"","en":"Gross required.","es":""}},{"id":"D","text":{"fr":"","en":"A bank accepting and repaying demand deposits.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Funds held for customers by an investment entity.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000167","standard_id":"IAS7","concept_ids":["IAS7.GROSS_NET.NET_BASIS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000167","tested_point":"QST.IAS7.000167","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000010","section_id":"gross-rule"},"references":["IAS 7 §24"],"exercise":{"prompt":{"fr":"","en":"For a financial institution, which of these flows may be presented net?","es":""},"explanation":{"fr":"","en":"A financial institution may report net cash flows from fixed maturity deposits, deposits placed with other institutions and advances and loans to customers (IAS 7, para. 24).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Acceptance and repayment of fixed maturity deposits.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Placement of deposits with other institutions and their withdrawal.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Purchase of the head office building and sale of the old one.","es":""},"correct":false,"feedback":{"fr":"","en":"Gross required.","es":""}},{"id":"D","text":{"fr":"","en":"Advances and loans to customers and their repayment.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Share issue and buy-back of own shares.","es":""},"correct":false,"feedback":{"fr":"","en":"Gross required.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000168","standard_id":"IAS7","concept_ids":["IAS7.GROSS_NET.NET_BASIS"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000168","tested_point":"QST.IAS7.000168","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000010","section_id":"gross-rule"},"references":["IAS 7 §22","IAS 7 §23"],"exercise":{"prompt":{"fr":"","en":"Tormelle, a property manager, collects {rents_collected} of rents on behalf of owners and pays {rents_remitted} over to them; the flows reflect the owners’ activities (case data). Compute the net flow that may be presented.","es":""},"explanation":{"fr":"","en":"Rents collected on behalf of and paid over to owners may be presented net (IAS 7, paras. 22 and 23): 2,340,000 − 2,275,000 = 65,000.","es":""},"common_error":{"fr":"","en":"Presenting rents collected as Tormelle’s income.","es":""},"format":"CALCULATION","placeholders":[{"id":"rents_collected","value":"2340000","unit":"EUR"},{"id":"rents_remitted","value":"2275000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Rents collected for owners","es":""},"value":"2340000","unit":"EUR"},{"label":{"fr":"","en":"Rents paid over","es":""},"value":"2275000","unit":"EUR"}],"steps":[{"id":"NET_FLOW","label":{"fr":"","en":"Net flow presented","es":""},"answer":65000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"NET_FLOW","meaning":{"fr":"","en":"Net flow presented","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Rents collected for owners","es":""},"value":2340000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Rents paid over","es":""},"value":2275000,"unit":"EUR"}],"result":65000,"unit":"EUR","rationale":{"fr":"","en":"Rents collected on behalf of and paid over to owners may be presented net (IAS 7, paras. 22 and 23): 2,340,000 − 2,275,000 = 65,000.","es":""}}],"references":["REF.IAS7.22","REF.IAS7.23"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000169","standard_id":"IAS7","concept_ids":["IAS7.GROSS_NET.NET_BASIS"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000169","tested_point":"QST.IAS7.000169","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000010","section_id":"gross-rule"},"references":["IAS 7 §22","IAS 7 §23A"],"exercise":{"prompt":{"fr":"","en":"Velnore Card, a credit card issuer, advanced {advances} to its cardholders and received {repayments} of principal repayments during the year (case data). Compute the net flow presented, as a negative amount if it is an outflow.","es":""},"explanation":{"fr":"","en":"These advances are quick-turnover items with large amounts and short maturities (IAS 7, paras. 22 and 23A): 18,240,000 − 18,600,000 = −360,000, a net outflow.","es":""},"common_error":{"fr":"","en":"Presenting the flow as an inflow.","es":""},"format":"CALCULATION","placeholders":[{"id":"advances","value":"18600000","unit":"EUR"},{"id":"repayments","value":"18240000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Advances to cardholders","es":""},"value":"18600000","unit":"EUR"},{"label":{"fr":"","en":"Principal repayments","es":""},"value":"18240000","unit":"EUR"}],"steps":[{"id":"NET_FLOW","label":{"fr":"","en":"Net flow (negative if outflow)","es":""},"answer":-360000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"NET_FLOW","meaning":{"fr":"","en":"Net flow (negative if outflow)","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Principal repayments","es":""},"value":18240000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Advances to cardholders","es":""},"value":18600000,"unit":"EUR"}],"result":-360000,"unit":"EUR","rationale":{"fr":"","en":"These advances are quick-turnover items with large amounts and short maturities (IAS 7, paras. 22 and 23A): 18,240,000 − 18,600,000 = −360,000, a net outflow.","es":""}}],"references":["REF.IAS7.22","REF.IAS7.23A"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000170","standard_id":"IAS7","concept_ids":["IAS7.GROSS_NET.NET_BASIS"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000170","tested_point":"QST.IAS7.000170","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000010","section_id":"gross-rule"},"references":["IAS 7 §21"],"exercise":{"prompt":{"fr":"","en":"Ardane paid {acquisitions_paid} for acquisitions of PPE; it sold assets with a carrying amount of {disposals_carrying} at a gain of {gain}. Compute the gross amounts to present in investing.","es":""},"explanation":{"fr":"","en":"Major classes of gross investing flows are presented separately (IAS 7, para. 21): outflow 760,000; inflow 210,000 + 25,000 = 235,000, with no offsetting.","es":""},"common_error":{"fr":"","en":"Presenting a single net outflow.","es":""},"format":"CALCULATION","placeholders":[{"id":"acquisitions_paid","value":"760000","unit":"EUR"},{"id":"disposals_carrying","value":"210000","unit":"EUR"},{"id":"gain","value":"25000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Acquisitions paid","es":""},"value":"760000","unit":"EUR"},{"label":{"fr":"","en":"Carrying amount sold","es":""},"value":"210000","unit":"EUR"},{"label":{"fr":"","en":"Gain on disposal","es":""},"value":"25000","unit":"EUR"}],"steps":[{"id":"GROSS_OUTFLOW","label":{"fr":"","en":"Gross outflow (acquisitions)","es":""},"answer":760000,"tolerance":0,"unit":"EUR"},{"id":"GROSS_INFLOW","label":{"fr":"","en":"Gross inflow (disposals)","es":""},"answer":235000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"GROSS_INFLOW","meaning":{"fr":"","en":"Gross inflow (disposals)","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Carrying amount sold","es":""},"value":210000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Gain on disposal","es":""},"value":25000,"unit":"EUR"}],"result":235000,"unit":"EUR"}],"rationale":{"fr":"","en":"Major classes of gross investing flows are presented separately (IAS 7, para. 21): outflow 760,000","es":""},"references":["REF.IAS7.21"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000171","standard_id":"IAS7","concept_ids":["IAS7.GROSS_NET.NET_BASIS"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000171","tested_point":"QST.IAS7.000171","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000010","section_id":"gross-rule"},"references":["IAS 7 §21"],"exercise":{"prompt":{"fr":"","en":"Morbris presents a line “net investment in PPE: −340,000”, offsetting 900,000 of acquisitions and 560,000 of disposals. What is the error?","es":""},"explanation":{"fr":"","en":"Major classes of gross investing receipts and payments are presented separately, except for the net cases provided for (IAS 7, para. 21).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The net amount must be presented in financing.","es":""},"correct":false,"feedback":{"fr":"","en":"These are investing flows.","es":""}},{"id":"B","text":{"fr":"","en":"Netting is allowed whenever the amounts involved are particularly large.","es":""},"correct":false,"feedback":{"fr":"","en":"Quick turnover and short maturities are also needed.","es":""}},{"id":"C","text":{"fr":"","en":"Acquisitions and disposals must be presented separately on a gross basis.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"There is no error.","es":""},"correct":false,"feedback":{"fr":"","en":"Netting is not allowed here.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000172","standard_id":"IAS7","concept_ids":["IAS7.GROSS_NET.NET_BASIS"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000172","tested_point":"QST.IAS7.000172","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000010","section_id":"gross-rule"},"references":["IAS 7 §22"],"exercise":{"prompt":{"fr":"","en":"Tortara, a manufacturer, presents net the drawdowns and repayments of its 5-year bank loans, “because the amounts are large”. What is the error?","es":""},"explanation":{"fr":"","en":"Net presentation is only allowed for items with quick turnover, large amounts and short maturities, or on behalf of customers (IAS 7, para. 22); 5-year loans do not meet these conditions.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"There is no error, the large-amount criterion being met for each drawdown and each repayment.","es":""},"correct":false,"feedback":{"fr":"","en":"The three criteria are cumulative.","es":""}},{"id":"B","text":{"fr":"","en":"5-year loans have neither quick turnover nor short maturity: gross presentation.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"These flows must be presented as operating.","es":""},"correct":false,"feedback":{"fr":"","en":"They are financing flows.","es":""}},{"id":"D","text":{"fr":"","en":"Only repayments must be presented.","es":""},"correct":false,"feedback":{"fr":"","en":"Drawdowns and repayments both appear gross.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000173","standard_id":"IAS7","concept_ids":["IAS7.GROSS_NET.NET_BASIS"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000173","tested_point":"QST.IAS7.000173","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":170,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000010","section_id":"gross-rule"},"references":["IAS 7 §22","IAS 7 §23"],"exercise":{"prompt":{"fr":"","en":"Ralnore Agency collects ticket prices on behalf of event organisers and pays them over, keeping only a separately invoiced commission (case data). How should the collections and remittances be presented?","es":""},"explanation":{"fr":"","en":"Receipts and payments on behalf of customers may be presented net when the flows reflect the customer’s activities (IAS 7, para. 22); rents collected for property owners are a comparable example (IAS 7, para. 23).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Net, as the flows reflect the organisers’ activities; the commission remains an operating flow.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Gross necessarily, as the agency’s sales and purchases, since the funds pass through its bank accounts.","es":""},"correct":false,"feedback":{"fr":"","en":"These flows are not the agency’s.","es":""}},{"id":"C","text":{"fr":"","en":"As financing, the agency holding third-party funds.","es":""},"correct":false,"feedback":{"fr":"","en":"Not a financing resource.","es":""}},{"id":"D","text":{"fr":"","en":"Outside the statement, the funds not belonging to the agency.","es":""},"correct":false,"feedback":{"fr":"","en":"The funds pass through its cash.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000174","standard_id":"IAS7","concept_ids":["IAS7.GROSS_NET.NET_BASIS"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000174","tested_point":"QST.IAS7.000174","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000010","section_id":"gross-rule"},"references":["IAS 7 §22","IAS 7 §23A"],"exercise":{"prompt":{"fr":"","en":"Peldane's group treasury buys and resells every week investment securities with an original maturity of 2 months (not qualifying as cash equivalents), for amounts of about 50 million (case data). How should these flows be presented?","es":""},"explanation":{"fr":"","en":"Flows on items with quick turnover, large amounts and short maturities may be presented net (IAS 7, para. 22); the purchase and sale of investments is an example (IAS 7, para. 23A).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Net is possible: investments with quick turnover, large amounts and short maturities.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Outside the statement, like cash equivalents.","es":""},"correct":false,"feedback":{"fr":"","en":"The case data rule out this qualification.","es":""}},{"id":"C","text":{"fr":"","en":"Gross necessarily, every investment being investing whatever its maturity and volume.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard allows net here.","es":""}},{"id":"D","text":{"fr":"","en":"As net financing.","es":""},"correct":false,"feedback":{"fr":"","en":"They are not financing resources.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000175","standard_id":"IAS7","concept_ids":["IAS7.GROSS_NET.NET_BASIS"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000175","tested_point":"QST.IAS7.000175","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000010","section_id":"gross-rule"},"references":["IAS 7 §21","IAS 7 §24"],"exercise":{"prompt":{"fr":"","en":"Selrane Bank wants to present net, on the one hand, loans made to its customers and their repayments and, on the other hand, the issue and repayment of its own 10-year bonds (case data). What is your view?","es":""},"explanation":{"fr":"","en":"A financial institution may present net advances and loans to customers and their repayment (IAS 7, para. 24); its own long-term bonds remain subject to gross presentation (IAS 7, para. 21).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Net allowed for both, financing being the main business of a bank.","es":""},"correct":false,"feedback":{"fr":"","en":"The option covers specific flows.","es":""}},{"id":"B","text":{"fr":"","en":"Net for customer loans; gross for its 10-year bonds.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Gross required for both.","es":""},"correct":false,"feedback":{"fr":"","en":"Customer loans may be net.","es":""}},{"id":"D","text":{"fr":"","en":"Net allowed for the bonds only.","es":""},"correct":false,"feedback":{"fr":"","en":"It is the reverse.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000176","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.FOREIGN_CURRENCY"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000176","tested_point":"QST.IAS7.000176","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000011","section_id":"transactions"},"references":["IAS 7 §25"],"exercise":{"prompt":{"fr":"","en":"At which rate does an entity record a cash flow arising from a foreign currency transaction?","es":""},"explanation":{"fr":"","en":"Cash flows arising from foreign currency transactions are recorded in the functional currency by applying the exchange rate at the date of the cash flow (IAS 7, para. 25).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The closing rate, applied uniformly to all flows.","es":""},"correct":false,"feedback":{"fr":"","en":"The closing rate is not the rate of the flow.","es":""}},{"id":"B","text":{"fr":"","en":"The historical opening rate.","es":""},"correct":false,"feedback":{"fr":"","en":"Unrelated to the date of the flow.","es":""}},{"id":"C","text":{"fr":"","en":"The exchange rate at the date of the cash flow.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The entity's budget rate.","es":""},"correct":false,"feedback":{"fr":"","en":"An internal rate is not acceptable.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000177","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.FOREIGN_CURRENCY"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000177","tested_point":"QST.IAS7.000177","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000011","section_id":"transactions"},"references":["IAS 7 §26","IAS 7 §27"],"exercise":{"prompt":{"fr":"","en":"Which rate may be used, as an approximation, to translate the cash flows of a foreign subsidiary?","es":""},"explanation":{"fr":"","en":"The cash flows of a foreign subsidiary are translated at the rates at the dates of the cash flows (IAS 7, para. 26); an approximating rate such as a weighted average is acceptable, but not the closing rate (IAS 7, para. 27).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The closing rate, for consistency with the statement of financial position.","es":""},"correct":false,"feedback":{"fr":"","en":"The closing rate is excluded for these flows.","es":""}},{"id":"B","text":{"fr":"","en":"The rate at acquisition of the subsidiary.","es":""},"correct":false,"feedback":{"fr":"","en":"Unrelated to the period’s flows.","es":""}},{"id":"C","text":{"fr":"","en":"A rate set by the parent for the whole group, unrelated to the market.","es":""},"correct":false,"feedback":{"fr":"","en":"The rate must approximate actual rates.","es":""}},{"id":"D","text":{"fr":"","en":"A weighted average rate for the period approximating actual rates.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000178","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.FOREIGN_CURRENCY"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000178","tested_point":"QST.IAS7.000178","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000011","section_id":"transactions"},"references":["IAS 7 §28"],"exercise":{"prompt":{"fr":"","en":"How is the effect of exchange rate changes on cash held in foreign currencies presented?","es":""},"explanation":{"fr":"","en":"Unrealised exchange gains and losses are not cash flows; the effect of exchange rate changes on cash held or due in foreign currency is reported separately from the three activities to reconcile opening and closing cash (IAS 7, para. 28).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Within operating cash flows, like any ordinary receipt or payment of the past period.","es":""},"correct":false,"feedback":{"fr":"","en":"The exchange effect is not a cash flow.","es":""}},{"id":"B","text":{"fr":"","en":"On a line separate from the three activities, to reconcile opening and closing cash.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"It is not presented, not being a cash flow.","es":""},"correct":false,"feedback":{"fr":"","en":"It must appear for the reconciliation.","es":""}},{"id":"D","text":{"fr":"","en":"In financing, being a financial risk.","es":""},"correct":false,"feedback":{"fr":"","en":"Line separate from activities.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000179","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.FOREIGN_CURRENCY"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000179","tested_point":"QST.IAS7.000179","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000011","section_id":"transactions"},"references":["IAS 7 §25","IAS 7 §28"],"exercise":{"prompt":{"fr":"","en":"Which of these statements about foreign currency cash flows are correct?","es":""},"explanation":{"fr":"","en":"Foreign currency cash flows are translated at the rate at the date of the flow (IAS 7, para. 25); unrealised gains and losses are not cash flows and the exchange effect on foreign currency cash is presented separately (IAS 7, para. 28).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"All flows are translated at the closing rate.","es":""},"correct":false,"feedback":{"fr":"","en":"The rate of the flow applies.","es":""}},{"id":"B","text":{"fr":"","en":"A foreign currency payment is translated at the rate on the payment date.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"An unrealised exchange gain on a receivable is not a cash flow.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"An unrealised exchange loss on a foreign-currency loan is a financing outflow.","es":""},"correct":false,"feedback":{"fr":"","en":"No cash goes out.","es":""}},{"id":"E","text":{"fr":"","en":"The exchange effect on foreign currency cash appears on a separate line.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000180","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.FOREIGN_CURRENCY"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000180","tested_point":"QST.IAS7.000180","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000011","section_id":"transactions"},"references":["IAS 7 §26","IAS 7 §27"],"exercise":{"prompt":{"fr":"","en":"To translate the cash flows of its Brazilian subsidiary, which rates may the Halbris group use?","es":""},"explanation":{"fr":"","en":"The cash flows of a foreign subsidiary are translated at the rates at the dates of the cash flows (IAS 7, para. 26); an approximating rate such as a weighted average is acceptable, but the closing rate cannot be used (IAS 7, para. 27).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The opening rate for the year, for all flows.","es":""},"correct":false,"feedback":{"fr":"","en":"Does not reflect the rates of the flows.","es":""}},{"id":"B","text":{"fr":"","en":"The rates at the dates of each cash flow.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"A weighted monthly average rate, if rates varied little in the month.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The closing rate for the year.","es":""},"correct":false,"feedback":{"fr":"","en":"Excluded for a foreign subsidiary’s flows.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000181","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.FOREIGN_CURRENCY"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000181","tested_point":"QST.IAS7.000181","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000011","section_id":"transactions"},"references":["IAS 7 §25"],"exercise":{"prompt":{"fr":"","en":"Ardesia pays a US supplier {usd_amount} USD on a day when 1 USD equals {payment_rate} EUR (case data). The invoice had been recorded at a different rate. Compute the operating outflow in euros.","es":""},"explanation":{"fr":"","en":"The flow is translated at the rate at the date of the flow (IAS 7, para. 25): 84,000 × 0.925 = 77,700; the rate at which the invoice was recorded is irrelevant.","es":""},"common_error":{"fr":"","en":"Using the invoice rate.","es":""},"format":"CALCULATION","placeholders":[{"id":"usd_amount","value":"84000","unit":"USD"},{"id":"payment_rate","value":"0.925","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Amount paid in USD","es":""},"value":"84000","unit":"USD"},{"label":{"fr":"","en":"Rate on payment date (EUR per 1 USD)","es":""},"value":"0.925","unit":"EUR"}],"steps":[{"id":"OUTFLOW_EUR","label":{"fr":"","en":"Outflow in euros","es":""},"answer":77700,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"OUTFLOW_EUR","meaning":{"fr":"","en":"Outflow in euros","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Amount paid in USD","es":""},"value":84000,"unit":"USD"},{"symbol":"b","meaning":{"fr":"","en":"Rate on payment date (EUR per 1 USD)","es":""},"value":0.925,"unit":"EUR"}],"result":77700,"unit":"EUR","rationale":{"fr":"","en":"The flow is translated at the rate at the date of the flow (IAS 7, para. 25): 84,000 × 0.925 = 77,700","es":""}}],"references":["REF.IAS7.25"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000182","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.FOREIGN_CURRENCY"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000012","tested_point":"VG.IAS7.000012","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000011","section_id":"transactions"},"references":["IAS 7 §28"],"exercise":{"prompt":{"fr":"","en":"Fendane group: opening cash {opening_cash}; operating flows {operating}, investing flows (outflow) {investing}, financing flows (outflow) {financing}; closing cash {closing_cash}, part of it held in foreign currencies. Compute the effect of exchange rate changes on cash.","es":""},"explanation":{"fr":"","en":"Change due to flows: 940,000 − 610,000 − 215,000 = 115,000; exchange effect = 1,402,000 − 1,250,000 − 115,000 = 37,000, presented separately from the three activities (IAS 7, para. 28).","es":""},"common_error":{"fr":"","en":"Including the exchange effect in operating flows.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_cash","value":"1250000","unit":"EUR"},{"id":"operating","value":"940000","unit":"EUR"},{"id":"investing","value":"610000","unit":"EUR"},{"id":"financing","value":"215000","unit":"EUR"},{"id":"closing_cash","value":"1402000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Opening cash","es":""},"value":"1250000","unit":"EUR"},{"label":{"fr":"","en":"Operating flows","es":""},"value":"940000","unit":"EUR"},{"label":{"fr":"","en":"Investing flows (outflow)","es":""},"value":"610000","unit":"EUR"},{"label":{"fr":"","en":"Financing flows (outflow)","es":""},"value":"215000","unit":"EUR"},{"label":{"fr":"","en":"Closing cash","es":""},"value":"1402000","unit":"EUR"}],"steps":[{"id":"FX_EFFECT","label":{"fr":"","en":"Effect of exchange rate changes","es":""},"answer":37000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"FX_EFFECT","meaning":{"fr":"","en":"Effect of exchange rate changes","es":""},"expression":"a - b - (c - d - e)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Closing cash","es":""},"value":1402000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening cash","es":""},"value":1250000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Operating flows","es":""},"value":940000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Investing flows (outflow)","es":""},"value":610000,"unit":"EUR"},{"symbol":"e","meaning":{"fr":"","en":"Financing flows (outflow)","es":""},"value":215000,"unit":"EUR"}],"result":37000,"unit":"EUR","rationale":{"fr":"","en":"exchange effect = 1,402,000 − 1,250,000 − 115,000 = 37,000, presented separately from the three activities (IAS 7, para. 28).","es":""}}],"references":["REF.IAS7.28"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000183","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.FOREIGN_CURRENCY"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000012","tested_point":"VG.IAS7.000012","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000011","section_id":"transactions"},"references":["IAS 7 §28"],"exercise":{"prompt":{"fr":"","en":"At Isdane, cash and cash equivalents were {opening_cash} at the start and {closing_cash} at the end of the period, a large part in pounds sterling which weakened. The period's flows are: operating {operating}, investing (outflow) {investing}, financing (inflow) {financing}. Determine the exchange effect line to present (negative if a loss).","es":""},"explanation":{"fr":"","en":"Net flows: 512,000 − 690,000 + 300,000 = 122,000; exchange effect = 913,000 − 830,000 − 122,000 = −39,000, a loss presented separately (IAS 7, para. 28).","es":""},"common_error":{"fr":"","en":"Forgetting the negative sign of the effect.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_cash","value":"830000","unit":"EUR"},{"id":"operating","value":"512000","unit":"EUR"},{"id":"investing","value":"690000","unit":"EUR"},{"id":"financing","value":"300000","unit":"EUR"},{"id":"closing_cash","value":"913000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Cash at the start","es":""},"value":"830000","unit":"EUR"},{"label":{"fr":"","en":"Operating flows","es":""},"value":"512000","unit":"EUR"},{"label":{"fr":"","en":"Investing flows (outflow)","es":""},"value":"690000","unit":"EUR"},{"label":{"fr":"","en":"Financing flows (inflow)","es":""},"value":"300000","unit":"EUR"},{"label":{"fr":"","en":"Cash at the end","es":""},"value":"913000","unit":"EUR"}],"steps":[{"id":"FX_EFFECT","label":{"fr":"","en":"Exchange effect line","es":""},"answer":-39000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"FX_EFFECT","meaning":{"fr":"","en":"Exchange effect line","es":""},"expression":"a - b - (c - d + e)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cash at the end","es":""},"value":913000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Cash at the start","es":""},"value":830000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Operating flows","es":""},"value":512000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Investing flows (outflow)","es":""},"value":690000,"unit":"EUR"},{"symbol":"e","meaning":{"fr":"","en":"Financing flows (inflow)","es":""},"value":300000,"unit":"EUR"}],"result":-39000,"unit":"EUR"}],"references":["REF.IAS7.28"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000184","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.FOREIGN_CURRENCY"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000184","tested_point":"QST.IAS7.000184","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000011","section_id":"transactions"},"references":["IAS 7 §26","IAS 7 §27"],"exercise":{"prompt":{"fr":"","en":"Morbane's subsidiary generated {local_operating} of operating cash flows in local currency (LC) evenly over the year. Weighted average rate: {average_rate} EUR per 1 LC; closing rate: {closing_rate} EUR (case data). Compute the translated operating flow and the difference wrongly using the closing rate would have caused.","es":""},"explanation":{"fr":"","en":"A foreign subsidiary’s flows are translated at the rates at the dates of the flows (IAS 7, para. 26); the weighted average rate is an acceptable approximation, the closing rate is not (IAS 7, para. 27): 5,400,000 × 0.15 = 810,000; the error would have been 5,400,000 × (0.15 − 0.14) = 54,000.","es":""},"common_error":{"fr":"","en":"Translating at the closing rate.","es":""},"format":"CALCULATION","placeholders":[{"id":"local_operating","value":"5400000","unit":"UNITS"},{"id":"average_rate","value":"0.15","unit":"EUR"},{"id":"closing_rate","value":"0.14","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Operating flows in LC","es":""},"value":"5400000","unit":"UNITS"},{"label":{"fr":"","en":"Weighted average rate","es":""},"value":"0.15","unit":"EUR"},{"label":{"fr":"","en":"Closing rate","es":""},"value":"0.14","unit":"EUR"}],"steps":[{"id":"TRANSLATED_OPERATING","label":{"fr":"","en":"Translated operating flow","es":""},"answer":810000,"tolerance":0,"unit":"EUR"},{"id":"CLOSING_RATE_ERROR","label":{"fr":"","en":"Difference with the closing rate","es":""},"answer":54000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"TRANSLATED_OPERATING","meaning":{"fr":"","en":"Translated operating flow","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Operating flows in LC","es":""},"value":5400000,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Weighted average rate","es":""},"value":0.15,"unit":"EUR"}],"result":810000,"unit":"EUR","rationale":{"fr":"","en":"the weighted average rate is an acceptable approximation, the closing rate is not (IAS 7, para. 27): 5,400,000 × 0.15 = 810,000","es":""}},{"step":"CLOSING_RATE_ERROR","meaning":{"fr":"","en":"Difference with the closing rate","es":""},"expression":"a * (b - c)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Operating flows in LC","es":""},"value":5400000,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Weighted average rate","es":""},"value":0.15,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing rate","es":""},"value":0.14,"unit":"EUR"}],"result":54000,"unit":"EUR"}],"references":["REF.IAS7.26","REF.IAS7.27"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000185","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.FOREIGN_CURRENCY"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000185","tested_point":"QST.IAS7.000185","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":260,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000011","section_id":"transactions"},"references":["IAS 7 §25","IAS 7 §28"],"exercise":{"prompt":{"fr":"","en":"Rindane holds a dollar account: opening balance {opening_usd} USD (rate {opening_rate}); customer receipt of {receipt_usd} USD (spot rate {receipt_rate}); supplier payment of {payment_usd} USD (spot rate {payment_rate}); closing rate {closing_rate} (rates in EUR per 1 USD). Compute the closing balance in euros and the exchange effect for the period.","es":""},"explanation":{"fr":"","en":"Flows translated at the rates at the dates of the flows (IAS 7, para. 25): 180,000 + 138,000 − 95,000 = 223,000; closing: 250,000 × 0.88 = 220,000; exchange effect 220,000 − 223,000 = −3,000, presented separately (IAS 7, para. 28).","es":""},"common_error":{"fr":"","en":"Translating flows at the closing rate.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_usd","value":"200000","unit":"USD"},{"id":"opening_rate","value":"0.9","unit":"EUR"},{"id":"receipt_usd","value":"150000","unit":"USD"},{"id":"receipt_rate","value":"0.92","unit":"EUR"},{"id":"payment_usd","value":"100000","unit":"USD"},{"id":"payment_rate","value":"0.95","unit":"EUR"},{"id":"closing_rate","value":"0.88","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Opening balance in USD","es":""},"value":"200000","unit":"USD"},{"label":{"fr":"","en":"Opening rate","es":""},"value":"0.9","unit":"EUR"},{"label":{"fr":"","en":"Receipt in USD","es":""},"value":"150000","unit":"USD"},{"label":{"fr":"","en":"Rate on receipt","es":""},"value":"0.92","unit":"EUR"},{"label":{"fr":"","en":"Payment in USD","es":""},"value":"100000","unit":"USD"},{"label":{"fr":"","en":"Rate on payment","es":""},"value":"0.95","unit":"EUR"},{"label":{"fr":"","en":"Closing rate","es":""},"value":"0.88","unit":"EUR"}],"steps":[{"id":"CLOSING_EUR","label":{"fr":"","en":"Closing balance in euros","es":""},"answer":220000,"tolerance":0,"unit":"EUR"},{"id":"FX_EFFECT","label":{"fr":"","en":"Exchange effect (negative if a loss)","es":""},"answer":-3000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000186","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.FOREIGN_CURRENCY"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000186","tested_point":"QST.IAS7.000186","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000011","section_id":"transactions"},"references":["IAS 7 §28"],"exercise":{"prompt":{"fr":"","en":"Velsane presents in its operating cash flows a “receipt” of 45,000 corresponding to the unrealised exchange gain on its dollar receivables. What is the error?","es":""},"explanation":{"fr":"","en":"Unrealised gains and losses arising from exchange rate changes are not cash flows (IAS 7, para. 28); under the indirect method this one would be removed from profit.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"An unrealised exchange gain is not a cash flow.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The gain should appear in financing.","es":""},"correct":false,"feedback":{"fr":"","en":"It is not a flow in any activity.","es":""}},{"id":"C","text":{"fr":"","en":"The gain should appear on the exchange effect on cash line.","es":""},"correct":false,"feedback":{"fr":"","en":"That line concerns foreign currency cash, not receivables.","es":""}},{"id":"D","text":{"fr":"","en":"There is no error.","es":""},"correct":false,"feedback":{"fr":"","en":"No cash came in.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000187","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.FOREIGN_CURRENCY"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000187","tested_point":"QST.IAS7.000187","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000011","section_id":"transactions"},"references":["IAS 7 §28"],"exercise":{"prompt":{"fr":"","en":"Borlane's statement shows: opening cash 400,000 + net flows 150,000 = 550,000, whereas closing cash is 532,000, part being held in Swiss francs. What is the error?","es":""},"explanation":{"fr":"","en":"The effect of exchange rate changes on cash held in foreign currencies is presented separately from the three activities to reconcile opening and closing cash (IAS 7, para. 28): 532,000 − 550,000 = −18,000.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Operating flows must be reduced by 18,000, the difference arising from sales collected in Swiss francs.","es":""},"correct":false,"feedback":{"fr":"","en":"The exchange effect is not an operating flow.","es":""}},{"id":"B","text":{"fr":"","en":"Closing cash must be brought to 550,000.","es":""},"correct":false,"feedback":{"fr":"","en":"The actual balance is 532,000.","es":""}},{"id":"C","text":{"fr":"","en":"The difference must appear in financing.","es":""},"correct":false,"feedback":{"fr":"","en":"Line separate from activities.","es":""}},{"id":"D","text":{"fr":"","en":"The exchange effect line (−18,000) is missing to reconcile cash.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000188","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.FOREIGN_CURRENCY"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000188","tested_point":"QST.IAS7.000188","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":170,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000011","section_id":"transactions"},"references":["IAS 7 §25"],"exercise":{"prompt":{"fr":"","en":"On 10 March Elsane receives 500,000 CHF from a customer, recorded on invoicing at a rate of 1.02 EUR; the rate on 10 March is 1.05 EUR per 1 CHF (case data). What operating receipt should be presented?","es":""},"explanation":{"fr":"","en":"The flow is recorded in the functional currency at the rate at the date of the flow (IAS 7, para. 25): 500,000 × 1.05 = 525,000 EUR.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"510,000 EUR, at the rate used when the customer was invoiced.","es":""},"correct":false,"feedback":{"fr":"","en":"The invoice rate is not the rate of the flow.","es":""}},{"id":"B","text":{"fr":"","en":"15,000 EUR, the exchange gain only.","es":""},"correct":false,"feedback":{"fr":"","en":"The gain is not the receipt.","es":""}},{"id":"C","text":{"fr":"","en":"525,000 EUR.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"500,000 EUR.","es":""},"correct":false,"feedback":{"fr":"","en":"The amount must be translated.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000189","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.FOREIGN_CURRENCY"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000189","tested_point":"QST.IAS7.000189","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000011","section_id":"transactions"},"references":["IAS 7 §26","IAS 7 §27"],"exercise":{"prompt":{"fr":"","en":"Galmira's Turkish subsidiary collects 80% of its receipts in the last month of the year, a period of sharp depreciation of the Turkish lira (case data). The consolidation team proposes a simple annual average rate. Which position should be taken?","es":""},"explanation":{"fr":"","en":"A foreign subsidiary’s flows are translated at the rates at the dates of the flows (IAS 7, para. 26); an average rate is acceptable only if it approximates actual rates, and the closing rate is excluded (IAS 7, para. 27). The seasonality (case data) makes a simple average unsuitable.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Accept the annual average rate, since an average for the period may be used whatever the timing of the flows.","es":""},"correct":false,"feedback":{"fr":"","en":"It is acceptable only if it approximates actual rates.","es":""}},{"id":"B","text":{"fr":"","en":"Use the closing rate for all flows, more prudent in a context of sharp depreciation of the currency.","es":""},"correct":false,"feedback":{"fr":"","en":"The closing rate is excluded.","es":""}},{"id":"C","text":{"fr":"","en":"Reject the simple average, which does not approximate actual rates; use rates close to the flow dates (e.g. monthly weighted average).","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Use the opening rate, known from the start of the year and therefore easier to document for the auditors.","es":""},"correct":false,"feedback":{"fr":"","en":"Does not reflect the rates of the flows.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000190","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.FOREIGN_CURRENCY"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000190","tested_point":"QST.IAS7.000190","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000011","section_id":"transactions"},"references":["IAS 7 §28"],"exercise":{"prompt":{"fr":"","en":"Tornore group: closing cash includes 3 million dollars whose euro value rose by 120,000 EUR through exchange rates; the dollar debt rose by 200,000 EUR through exchange rates (case data). How do these effects appear in the statement?","es":""},"explanation":{"fr":"","en":"Unrealised exchange differences are not cash flows; only the exchange effect on cash held or due in foreign currencies is presented, separately from activities, for the reconciliation (IAS 7, para. 28).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"−80,000 on the exchange effect line, netting the gain on cash against the loss on the dollar debt.","es":""},"correct":false,"feedback":{"fr":"","en":"The line only covers cash.","es":""}},{"id":"B","text":{"fr":"","en":"−200,000 in financing for the debt and +120,000 in operating for cash, each effect following its line item.","es":""},"correct":false,"feedback":{"fr":"","en":"Unrealised differences are not cash flows.","es":""}},{"id":"C","text":{"fr":"","en":"No mention in the statement, both exchange effects being unrealised, with no receipt or payment.","es":""},"correct":false,"feedback":{"fr":"","en":"The effect on cash must appear.","es":""}},{"id":"D","text":{"fr":"","en":"+120,000 on the exchange effect on cash line; the 200,000 on the debt is not a flow (removed from profit under the indirect method).","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000191","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000191","tested_point":"QST.IAS7.000191","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §31"],"exercise":{"prompt":{"fr":"","en":"Interest and dividends received and paid are each disclosed separately and classified consistently from period to period.","es":""},"explanation":{"fr":"","en":"Cash flows from interest and dividends received and paid are each disclosed separately and classified consistently from period to period as operating, investing or financing (IAS 7, para. 31). Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Changing classification every year.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000192","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000192","tested_point":"QST.IAS7.000192","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §34"],"exercise":{"prompt":{"fr":"","en":"For an entity that is not a financial institution, dividends paid must be classified as financing activities.","es":""},"explanation":{"fr":"","en":"Dividends paid may be classified as financing, as a cost of obtaining financial resources, or as operating activities (IAS 7, para. 34). Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Presenting an option as a requirement.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000193","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000193","tested_point":"QST.IAS7.000193","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §32"],"exercise":{"prompt":{"fr":"","en":"The total amount of interest paid disclosed in the statement excludes interest capitalised into the cost of an asset under IAS 23.","es":""},"explanation":{"fr":"","en":"The total amount of interest paid is disclosed whether it has been recognised as an expense or capitalised under IAS 23 (IAS 7, para. 32).","es":""},"common_error":{"fr":"","en":"Forgetting capitalised interest.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000194","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000194","tested_point":"QST.IAS7.000194","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §33"],"exercise":{"prompt":{"fr":"","en":"For an entity that is not a financial institution, how may interest paid be classified?","es":""},"explanation":{"fr":"","en":"With no consensus for an entity other than a financial institution, interest paid may be classified as operating or financing (IAS 7, para. 33). Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As operating or financing activities.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Only as financing activities, with no other possibility.","es":""},"correct":false,"feedback":{"fr":"","en":"Operating is also possible.","es":""}},{"id":"C","text":{"fr":"","en":"As investing activities.","es":""},"correct":false,"feedback":{"fr":"","en":"Not for interest paid.","es":""}},{"id":"D","text":{"fr":"","en":"Outside the statement, being an expense.","es":""},"correct":false,"feedback":{"fr":"","en":"Interest paid is a cash flow.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000195","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000195","tested_point":"QST.IAS7.000195","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §33"],"exercise":{"prompt":{"fr":"","en":"A trading company receives interest on its investments and dividends from its shareholdings. Between which activities may it choose for these receipts?","es":""},"explanation":{"fr":"","en":"Interest and dividends received may be classified as operating or investing by an entity other than a financial institution (IAS 7, para. 33). Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As operating or financing activities, like interest paid by the entity.","es":""},"correct":false,"feedback":{"fr":"","en":"Flows received are operating or investing.","es":""}},{"id":"B","text":{"fr":"","en":"As operating or investing activities.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Only as investing.","es":""},"correct":false,"feedback":{"fr":"","en":"Operating is also possible.","es":""}},{"id":"D","text":{"fr":"","en":"As financing.","es":""},"correct":false,"feedback":{"fr":"","en":"Option not provided for flows received.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000196","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000196","tested_point":"QST.IAS7.000196","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §34"],"exercise":{"prompt":{"fr":"","en":"What rationale does the standard give for classifying dividends paid as financing?","es":""},"explanation":{"fr":"","en":"Dividends paid may be classified as financing because they are a cost of obtaining financial resources, or as operating (IAS 7, para. 34). Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"They are taken from surplus cash, which makes them unrelated to operations.","es":""},"correct":false,"feedback":{"fr":"","en":"This is not the rationale given.","es":""}},{"id":"B","text":{"fr":"","en":"They are tax-deductible.","es":""},"correct":false,"feedback":{"fr":"","en":"No tax rationale.","es":""}},{"id":"C","text":{"fr":"","en":"They are decided by the general meeting.","es":""},"correct":false,"feedback":{"fr":"","en":"That is not the criterion.","es":""}},{"id":"D","text":{"fr":"","en":"They are a cost of obtaining financial resources.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000197","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000197","tested_point":"QST.IAS7.000197","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §31"],"exercise":{"prompt":{"fr":"","en":"Tormane used to classify interest paid as operating. This year, to improve operating cash flows, it classifies it as financing, with no other reason. What should be said?","es":""},"explanation":{"fr":"","en":"Interest paid is classified consistently from period to period (IAS 7, para. 31); an unjustified change aimed at window-dressing cash flows breaches this requirement. Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The change is free each year, both classifications being permitted for an industrial entity.","es":""},"correct":false,"feedback":{"fr":"","en":"The choice must be applied consistently.","es":""}},{"id":"B","text":{"fr":"","en":"The change is required whenever profit falls.","es":""},"correct":false,"feedback":{"fr":"","en":"No such rule.","es":""}},{"id":"C","text":{"fr":"","en":"Classification must stay consistent; an opportunistic change is not acceptable.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Interest must now be classified as investing.","es":""},"correct":false,"feedback":{"fr":"","en":"Option not provided for interest paid.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000198","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000198","tested_point":"QST.IAS7.000198","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §12","IAS 7 §33"],"exercise":{"prompt":{"fr":"","en":"Lirmane pays a loan instalment (capital 60,000, interest 9,000). It classifies interest paid as financing (case data). How should the instalment be presented?","es":""},"explanation":{"fr":"","en":"The capital element is financing and the interest element may be classified as operating (IAS 7, para. 12); interest paid may also be classified as financing (IAS 7, para. 33). Here the whole instalment is financing, with interest still disclosed separately. Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"60,000 in financing and the 9,000 of interest necessarily in operating.","es":""},"correct":false,"feedback":{"fr":"","en":"Financing is permitted for interest.","es":""}},{"id":"B","text":{"fr":"","en":"69,000 in financing, interest disclosed separately from capital.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"69,000 in operating.","es":""},"correct":false,"feedback":{"fr":"","en":"Capital is financing.","es":""}},{"id":"D","text":{"fr":"","en":"9,000 in investing, 60,000 in financing.","es":""},"correct":false,"feedback":{"fr":"","en":"No investing option for interest paid.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000199","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000199","tested_point":"QST.IAS7.000199","difficulty":"BEGINNER","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §31","IAS 7 §33","IAS 7 §34"],"exercise":{"prompt":{"fr":"","en":"Which of these classifications are permitted for a manufacturing entity?","es":""},"explanation":{"fr":"","en":"Interest paid: operating or financing; interest and dividends received: operating or investing (IAS 7, para. 33); dividends paid: financing or operating (IAS 7, para. 34); the choice is applied consistently (IAS 7, para. 31). Wording before IFRS 18.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Interest paid as investing.","es":""},"correct":false,"feedback":{"fr":"","en":"Option not provided.","es":""}},{"id":"B","text":{"fr":"","en":"Dividends paid as investing.","es":""},"correct":false,"feedback":{"fr":"","en":"Option not provided.","es":""}},{"id":"C","text":{"fr":"","en":"Interest paid as financing.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Dividends received as investing.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Dividends paid as operating.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000200","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000200","tested_point":"QST.IAS7.000200","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §31","IAS 7 §32"],"exercise":{"prompt":{"fr":"","en":"Which of these disclosures about interest are required?","es":""},"explanation":{"fr":"","en":"Interest received and paid are disclosed separately and classified consistently (IAS 7, para. 31); total interest paid includes amounts capitalised into the cost of an asset (IAS 7, para. 32). Wording before IFRS 18.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A consistent classification from period to period.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Netting interest received and paid in one line.","es":""},"correct":false,"feedback":{"fr":"","en":"They are disclosed separately.","es":""}},{"id":"C","text":{"fr":"","en":"The average interest rate of each loan in the statement.","es":""},"correct":false,"feedback":{"fr":"","en":"Not required by this standard.","es":""}},{"id":"D","text":{"fr":"","en":"Interest received and paid disclosed separately.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Total interest paid, capitalised or not.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000201","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000201","tested_point":"QST.IAS7.000201","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §31","IAS 7 §33"],"exercise":{"prompt":{"fr":"","en":"For its financial year beginning on 1 January 2026, Osttine is considering the following positions. Which comply with the applicable wording?","es":""},"explanation":{"fr":"","en":"For a year beginning before 2027, the wording before IFRS 18 applies: interest and dividends disclosed separately and classified consistently (IAS 7, para. 31), using the options open to non-financial entities (IAS 7, para. 33). Wording before IFRS 18.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Classify interest paid as investing.","es":""},"correct":false,"feedback":{"fr":"","en":"Option not provided.","es":""}},{"id":"B","text":{"fr":"","en":"Keep the investing classification of interest received used in prior years.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Apply early, with no further analysis, the classification in the texts applicable from 2027.","es":""},"correct":false,"feedback":{"fr":"","en":"The wording before IFRS 18 applies to this year.","es":""}},{"id":"D","text":{"fr":"","en":"Disclose interest received and dividends received separately.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000202","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000013","tested_point":"VG.IAS7.000013","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §31"],"exercise":{"prompt":{"fr":"","en":"Calnore's interest expense amounts to {interest_expense}. Interest payable moves from {opening_payable} to {closing_payable}. Compute interest paid.","es":""},"explanation":{"fr":"","en":"146,000 + 31,000 − 43,000 = 134,000, disclosed separately and classified under the entity's consistent policy (IAS 7, para. 31). Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Using the expense as interest paid.","es":""},"format":"CALCULATION","placeholders":[{"id":"interest_expense","value":"146000","unit":"EUR"},{"id":"opening_payable","value":"31000","unit":"EUR"},{"id":"closing_payable","value":"43000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Interest expense","es":""},"value":"146000","unit":"EUR"},{"label":{"fr":"","en":"Opening interest payable","es":""},"value":"31000","unit":"EUR"},{"label":{"fr":"","en":"Closing interest payable","es":""},"value":"43000","unit":"EUR"}],"steps":[{"id":"INTEREST_PAID","label":{"fr":"","en":"Interest paid","es":""},"answer":134000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"INTEREST_PAID","meaning":{"fr":"","en":"Interest paid","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Interest expense","es":""},"value":146000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening interest payable","es":""},"value":31000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing interest payable","es":""},"value":43000,"unit":"EUR"}],"result":134000,"unit":"EUR","rationale":{"fr":"","en":"146,000 + 31,000 − 43,000 = 134,000, disclosed separately and classified under the entity's consistent policy (IAS 7, para. 31).","es":""}}],"references":["REF.IAS7.31"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000203","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000013","tested_point":"VG.IAS7.000013","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §31"],"exercise":{"prompt":{"fr":"","en":"During the year Delrane recognised {interest_expense} of interest on its borrowings. It owed {opening_payable} of accrued unpaid interest at the start of the year and owes only {closing_payable} at the end. How much interest did it pay out?","es":""},"explanation":{"fr":"","en":"92,000 + 27,500 − 8,500 = 111,000: the fall in interest owed increases payments; the amount is disclosed separately (IAS 7, para. 31). Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Deducting the decrease instead of adding it.","es":""},"format":"CALCULATION","placeholders":[{"id":"interest_expense","value":"92000","unit":"EUR"},{"id":"opening_payable","value":"27500","unit":"EUR"},{"id":"closing_payable","value":"8500","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Interest recognised","es":""},"value":"92000","unit":"EUR"},{"label":{"fr":"","en":"Interest owed at the start","es":""},"value":"27500","unit":"EUR"},{"label":{"fr":"","en":"Interest owed at the end","es":""},"value":"8500","unit":"EUR"}],"steps":[{"id":"INTEREST_PAID","label":{"fr":"","en":"Interest paid out","es":""},"answer":111000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"INTEREST_PAID","meaning":{"fr":"","en":"Interest paid out","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Interest recognised","es":""},"value":92000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Interest owed at the start","es":""},"value":27500,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Interest owed at the end","es":""},"value":8500,"unit":"EUR"}],"result":111000,"unit":"EUR"}],"references":["REF.IAS7.31"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000204","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000204","tested_point":"QST.IAS7.000204","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §32"],"exercise":{"prompt":{"fr":"","en":"Halbane recognised {interest_expense} of interest as an expense and capitalised {capitalised_interest} of interest into the cost of a plant under construction, paid during the year. Accrued expensed interest moves from {opening_payable} to {closing_payable}. Compute the total interest paid to disclose.","es":""},"explanation":{"fr":"","en":"Expensed interest paid: 210,000 + 18,000 − 25,000 = 203,000; total including capitalised interest (IAS 7, para. 32): 203,000 + 64,000 = 267,000.","es":""},"common_error":{"fr":"","en":"Excluding capitalised interest from the total.","es":""},"format":"CALCULATION","placeholders":[{"id":"interest_expense","value":"210000","unit":"EUR"},{"id":"capitalised_interest","value":"64000","unit":"EUR"},{"id":"opening_payable","value":"18000","unit":"EUR"},{"id":"closing_payable","value":"25000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Interest expensed","es":""},"value":"210000","unit":"EUR"},{"label":{"fr":"","en":"Capitalised interest paid","es":""},"value":"64000","unit":"EUR"},{"label":{"fr":"","en":"Opening accrued interest","es":""},"value":"18000","unit":"EUR"},{"label":{"fr":"","en":"Closing accrued interest","es":""},"value":"25000","unit":"EUR"}],"steps":[{"id":"TOTAL_INTEREST_PAID","label":{"fr":"","en":"Total interest paid","es":""},"answer":267000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"TOTAL_INTEREST_PAID","meaning":{"fr":"","en":"Total interest paid","es":""},"expression":"(a + b - c) + d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Interest expensed","es":""},"value":210000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening accrued interest","es":""},"value":18000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing accrued interest","es":""},"value":25000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Capitalised interest paid","es":""},"value":64000,"unit":"EUR"}],"result":267000,"unit":"EUR"}],"references":["REF.IAS7.32"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000205","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000205","tested_point":"QST.IAS7.000205","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §34"],"exercise":{"prompt":{"fr":"","en":"Kervelle declared {dividends_declared} of dividends during the year. Dividends payable move from {opening_payable} to {closing_payable}. Compute dividends paid.","es":""},"explanation":{"fr":"","en":"480,000 + 60,000 − 120,000 = 420,000, classified as financing or operating under the entity's policy (IAS 7, para. 34). Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Using dividends declared.","es":""},"format":"CALCULATION","placeholders":[{"id":"dividends_declared","value":"480000","unit":"EUR"},{"id":"opening_payable","value":"60000","unit":"EUR"},{"id":"closing_payable","value":"120000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Dividends declared","es":""},"value":"480000","unit":"EUR"},{"label":{"fr":"","en":"Opening dividends payable","es":""},"value":"60000","unit":"EUR"},{"label":{"fr":"","en":"Closing dividends payable","es":""},"value":"120000","unit":"EUR"}],"steps":[{"id":"DIVIDENDS_PAID","label":{"fr":"","en":"Dividends paid","es":""},"answer":420000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"DIVIDENDS_PAID","meaning":{"fr":"","en":"Dividends paid","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Dividends declared","es":""},"value":480000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening dividends payable","es":""},"value":60000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing dividends payable","es":""},"value":120000,"unit":"EUR"}],"result":420000,"unit":"EUR","rationale":{"fr":"","en":"480,000 + 60,000 − 120,000 = 420,000, classified as financing or operating under the entity's policy (IAS 7, para. 34).","es":""}}],"references":["REF.IAS7.34"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000206","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000206","tested_point":"QST.IAS7.000206","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §34"],"exercise":{"prompt":{"fr":"","en":"Galbris's retained earnings move from {opening_retained} to {closing_retained}; profit for the year is {profit} and only dividends reduced reserves. Dividends payable move from {opening_payable} to {closing_payable}. Compute dividends declared and paid.","es":""},"explanation":{"fr":"","en":"Declared: 2,650,000 + 740,000 − 2,910,000 = 480,000; paid: 480,000 + 95,000 − 40,000 = 535,000, classified under the entity's policy (IAS 7, para. 34). Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Confusing dividends declared and paid.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_retained","value":"2650000","unit":"EUR"},{"id":"closing_retained","value":"2910000","unit":"EUR"},{"id":"profit","value":"740000","unit":"EUR"},{"id":"opening_payable","value":"95000","unit":"EUR"},{"id":"closing_payable","value":"40000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Opening retained earnings","es":""},"value":"2650000","unit":"EUR"},{"label":{"fr":"","en":"Closing retained earnings","es":""},"value":"2910000","unit":"EUR"},{"label":{"fr":"","en":"Profit for the year","es":""},"value":"740000","unit":"EUR"},{"label":{"fr":"","en":"Opening dividends payable","es":""},"value":"95000","unit":"EUR"},{"label":{"fr":"","en":"Closing dividends payable","es":""},"value":"40000","unit":"EUR"}],"steps":[{"id":"DIVIDENDS_DECLARED","label":{"fr":"","en":"Dividends declared","es":""},"answer":480000,"tolerance":0,"unit":"EUR"},{"id":"DIVIDENDS_PAID","label":{"fr":"","en":"Dividends paid","es":""},"answer":535000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"DIVIDENDS_DECLARED","meaning":{"fr":"","en":"Dividends declared","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Opening retained earnings","es":""},"value":2650000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Profit for the year","es":""},"value":740000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing retained earnings","es":""},"value":2910000,"unit":"EUR"}],"result":480000,"unit":"EUR"},{"step":"DIVIDENDS_PAID","meaning":{"fr":"","en":"Dividends paid","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Dividends declared","es":""},"value":480000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening dividends payable","es":""},"value":95000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing dividends payable","es":""},"value":40000,"unit":"EUR"}],"result":535000,"unit":"EUR"}],"references":["REF.IAS7.34"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000207","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000207","tested_point":"QST.IAS7.000207","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §31","IAS 7 §33"],"exercise":{"prompt":{"fr":"","en":"Pirzane recognised {interest_income} of interest income on its investments. Interest receivable moves from {opening_receivable} to {closing_receivable}. It classifies interest received as investing (case data). Compute interest received.","es":""},"explanation":{"fr":"","en":"58,000 + 11,000 − 16,500 = 52,500, disclosed separately (IAS 7, para. 31) and classified as investing, an option open for interest received (IAS 7, para. 33). Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Using income as the receipt.","es":""},"format":"CALCULATION","placeholders":[{"id":"interest_income","value":"58000","unit":"EUR"},{"id":"opening_receivable","value":"11000","unit":"EUR"},{"id":"closing_receivable","value":"16500","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Interest income","es":""},"value":"58000","unit":"EUR"},{"label":{"fr":"","en":"Opening interest receivable","es":""},"value":"11000","unit":"EUR"},{"label":{"fr":"","en":"Closing interest receivable","es":""},"value":"16500","unit":"EUR"}],"steps":[{"id":"INTEREST_RECEIVED","label":{"fr":"","en":"Interest received (investing)","es":""},"answer":52500,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"INTEREST_RECEIVED","meaning":{"fr":"","en":"Interest received (investing)","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Interest income","es":""},"value":58000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening interest receivable","es":""},"value":11000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing interest receivable","es":""},"value":16500,"unit":"EUR"}],"result":52500,"unit":"EUR","rationale":{"fr":"","en":"58,000 + 11,000 − 16,500 = 52,500, disclosed separately (IAS 7, para. 31) and classified as investing, an option open for interest received (IAS 7, para. 33).","es":""}}],"references":["REF.IAS7.31","REF.IAS7.33"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000208","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000208","tested_point":"QST.IAS7.000208","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §32"],"exercise":{"prompt":{"fr":"","en":"Ostvelle discloses “interest paid of 300,000” in the notes, although it also paid 80,000 of interest capitalised into the cost of a warehouse under construction. What is the error?","es":""},"explanation":{"fr":"","en":"Total interest paid is disclosed whether expensed or capitalised into the cost of an asset (IAS 7, para. 32): 300,000 + 80,000 = 380,000.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Total interest paid must include capitalised interest: 380,000.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Capitalised interest must be deducted: 220,000.","es":""},"correct":false,"feedback":{"fr":"","en":"They are added.","es":""}},{"id":"C","text":{"fr":"","en":"There is no error, capitalised interest not being an expense.","es":""},"correct":false,"feedback":{"fr":"","en":"The total concerns interest paid.","es":""}},{"id":"D","text":{"fr":"","en":"Capitalised interest must be presented separately, as a financing flow.","es":""},"correct":false,"feedback":{"fr":"","en":"The issue is the total to disclose.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000209","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000209","tested_point":"QST.IAS7.000209","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §31"],"exercise":{"prompt":{"fr":"","en":"Salrane presents interest paid of 175,000, the amount of its interest expense, although interest payable increased by 35,000. What is the error?","es":""},"explanation":{"fr":"","en":"Interest paid presented (IAS 7, para. 31) is cash paid: 175,000 − 35,000 = 140,000. Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Interest paid is 140,000: the increase in accruals was not paid.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Interest paid is 210,000.","es":""},"correct":false,"feedback":{"fr":"","en":"Reversed sign.","es":""}},{"id":"C","text":{"fr":"","en":"There is no error.","es":""},"correct":false,"feedback":{"fr":"","en":"The expense is not the payment.","es":""}},{"id":"D","text":{"fr":"","en":"Accrued interest of 35,000 must be presented in financing, in addition to the interest expense.","es":""},"correct":false,"feedback":{"fr":"","en":"They are not a cash flow.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000210","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000210","tested_point":"QST.IAS7.000210","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §31"],"exercise":{"prompt":{"fr":"","en":"Halmira presents a single line “net interest” of −40,000, offsetting 120,000 of interest paid and 80,000 of interest received. What is the error?","es":""},"explanation":{"fr":"","en":"Cash flows from interest and dividends received and paid are each disclosed separately (IAS 7, para. 31). Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The line must appear in investing.","es":""},"correct":false,"feedback":{"fr":"","en":"The problem is the netting.","es":""}},{"id":"B","text":{"fr":"","en":"Interest received and paid must each be disclosed separately.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"There is no error if the classification is consistent.","es":""},"correct":false,"feedback":{"fr":"","en":"Separate disclosure is also required.","es":""}},{"id":"D","text":{"fr":"","en":"Interest received must be excluded from the statement, being merely income.","es":""},"correct":false,"feedback":{"fr":"","en":"They are cash flows.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000214","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000214","tested_point":"QST.IAS7.000214","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":170,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §33"],"exercise":{"prompt":{"fr":"","en":"Calnis, a manufacturer, wants its operating cash flow to reflect the cost of its debt, and chooses for the first time a policy for classifying interest paid (case data). Which choice is compliant?","es":""},"explanation":{"fr":"","en":"A non-financial entity may classify interest paid as operating or financing (IAS 7, para. 33); the choice, a matter of entity policy, is then applied consistently. Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Classify interest paid as investing, with the cost of the machines they financed.","es":""},"correct":false,"feedback":{"fr":"","en":"Option not provided.","es":""}},{"id":"B","text":{"fr":"","en":"Allocate interest each year as needed.","es":""},"correct":false,"feedback":{"fr":"","en":"Classification must be consistent.","es":""}},{"id":"C","text":{"fr":"","en":"Classify interest paid as operating, then stick to it from period to period.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Exclude interest from the statement.","es":""},"correct":false,"feedback":{"fr":"","en":"They are cash flows.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000215","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000215","tested_point":"QST.IAS7.000215","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §33"],"exercise":{"prompt":{"fr":"","en":"Ralmira, a holding company with no industrial activity, earns most of its income as dividends from unconsolidated investments (case data). Which classification of dividends received is most defensible?","es":""},"explanation":{"fr":"","en":"Dividends received may be classified as operating or investing by a non-financial entity (IAS 7, para. 33); for a holding company whose main business they are, operating is a defensible choice (judgement), then applied consistently. Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Financing, since the holding company finances its subsidiaries.","es":""},"correct":false,"feedback":{"fr":"","en":"Option not provided for dividends received.","es":""}},{"id":"B","text":{"fr":"","en":"Outside the statement, dividends being recognised as finance income.","es":""},"correct":false,"feedback":{"fr":"","en":"They are receipts.","es":""}},{"id":"C","text":{"fr":"","en":"Investing necessarily, the shares being long-term assets held to earn a return on them.","es":""},"correct":false,"feedback":{"fr":"","en":"Operating is also permitted.","es":""}},{"id":"D","text":{"fr":"","en":"Operating, dividends being its main source of income (permitted choice, applied consistently).","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000216","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000216","tested_point":"QST.IAS7.000216","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §32","IAS 7 §33"],"exercise":{"prompt":{"fr":"","en":"Kalbris classifies interest paid as financing (case data). It paid 150,000 of expensed interest and 40,000 of interest capitalised into an asset under construction. Which presentation is most appropriate?","es":""},"explanation":{"fr":"","en":"Total interest paid (150,000 + 40,000 = 190,000) is disclosed, expensed and capitalised interest included (IAS 7, para. 32); classification follows the option chosen by the entity (IAS 7, para. 33), capitalised interest calling for documented judgement. Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Disclose 150,000 of interest paid and ignore the 40,000 capitalised.","es":""},"correct":false,"feedback":{"fr":"","en":"The total must include capitalised interest.","es":""}},{"id":"B","text":{"fr":"","en":"Disclose total interest paid of 190,000, documenting how capitalised interest is classified.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Present the 40,000 as operating, for lack of any other option for interest capitalised in an asset.","es":""},"correct":false,"feedback":{"fr":"","en":"No rule requires this classification.","es":""}},{"id":"D","text":{"fr":"","en":"Offset the 40,000 against the asset acquisition.","es":""},"correct":false,"feedback":{"fr":"","en":"Total interest paid must appear.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000217","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000217","tested_point":"QST.IAS7.000217","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §31","IAS 7 §34"],"exercise":{"prompt":{"fr":"","en":"Velquine used to classify dividends paid as financing. It is acquired by a group that classifies dividends as operating and wishes to harmonise policies in its consolidated accounts (case data). How should the issue be handled in Velquine's own accounts?","es":""},"explanation":{"fr":"","en":"Dividends paid may be classified as financing or operating (IAS 7, para. 34), consistently from period to period (IAS 7, para. 31); any change requires documented justification (judgement), separate from the harmonisation adjustments specific to consolidation. Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A change is possible only if justified and documented, consistency remaining the rule; group harmonisation concerns the consolidated accounts first.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Change the classification each year to follow the current shareholder's policy, so as to align with the group's accounts.","es":""},"correct":false,"feedback":{"fr":"","en":"Contrary to consistency.","es":""}},{"id":"C","text":{"fr":"","en":"Classify dividends paid as investing from now on, like the dividends received from its own investments.","es":""},"correct":false,"feedback":{"fr":"","en":"Option not provided.","es":""}},{"id":"D","text":{"fr":"","en":"Remove dividends paid from the entity's own statement, since the group already presents them in its consolidated statement.","es":""},"correct":false,"feedback":{"fr":"","en":"They are cash flows.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000220","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000220","tested_point":"QST.IAS7.000220","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"rule"},"references":["IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"Cash flows arising from taxes on income are separately disclosed and classified as operating, unless they can be specifically identified with financing and investing activities.","es":""},"explanation":{"fr":"","en":"Cash flows arising from taxes on income are disclosed separately and classified as operating, unless specifically identified with financing and investing (IAS 7, para. 35). Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Burying tax within other payments.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000221","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000221","tested_point":"QST.IAS7.000221","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"rule"},"references":["IAS 7 §36"],"exercise":{"prompt":{"fr":"","en":"When taxes paid are allocated over more than one activity, it is enough to present each portion in its activity, without disclosing the total.","es":""},"explanation":{"fr":"","en":"When tax cash flows are spread across several activities, the entity discloses the total taxes paid (IAS 7, para. 36).","es":""},"common_error":{"fr":"","en":"Forgetting to disclose the total.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000222","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000222","tested_point":"QST.IAS7.000222","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"rule"},"references":["IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"Tax paid for the period equals total income tax expense in profit or loss, including deferred tax.","es":""},"explanation":{"fr":"","en":"Tax cash flows presented (IAS 7, para. 35) are payments: they are derived from current tax expense and opening and closing current tax balances (amounts: case data); deferred tax has no cash effect. Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Using total tax expense.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000223","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000223","tested_point":"QST.IAS7.000223","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"rule"},"references":["IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"What is the default classification of income taxes paid?","es":""},"explanation":{"fr":"","en":"Taxes paid are classified as operating, unless they can be specifically identified with financing and investing (IAS 7, para. 35). Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Financing activities, the State being treated as a provider of resources.","es":""},"correct":false,"feedback":{"fr":"","en":"Not the default classification.","es":""}},{"id":"B","text":{"fr":"","en":"Investing activities.","es":""},"correct":false,"feedback":{"fr":"","en":"Only when specifically identified.","es":""}},{"id":"C","text":{"fr":"","en":"Outside the statement.","es":""},"correct":false,"feedback":{"fr":"","en":"They are cash flows.","es":""}},{"id":"D","text":{"fr":"","en":"Operating activities.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000224","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000224","tested_point":"QST.IAS7.000224","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"rule"},"references":["IAS 7 §36"],"exercise":{"prompt":{"fr":"","en":"Why are taxes paid usually classified as operating activities?","es":""},"explanation":{"fr":"","en":"Although tax expense may relate to an investing or financing transaction, the related tax cash flow is often impracticable to identify and may arise in a different period: taxes paid are therefore usually operating (IAS 7, para. 36).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Because tax is always computed on operating profit only, excluding gains and finance income.","es":""},"correct":false,"feedback":{"fr":"","en":"This is not the rationale.","es":""}},{"id":"B","text":{"fr":"","en":"Because tax is a non-cash expense.","es":""},"correct":false,"feedback":{"fr":"","en":"Tax paid is a payment.","es":""}},{"id":"C","text":{"fr":"","en":"Tax on an investing or financing transaction is often impracticable to isolate.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Because tax law requires it.","es":""},"correct":false,"feedback":{"fr":"","en":"No reference to tax law.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000225","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000225","tested_point":"QST.IAS7.000225","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"rule"},"references":["IAS 7 §36"],"exercise":{"prompt":{"fr":"","en":"Brelane sells a subsidiary at a large gain; the related tax is identifiable and paid separately (case data). How should this tax flow be classified?","es":""},"explanation":{"fr":"","en":"When the tax cash flow can practicably be linked to an investing transaction, it follows that classification, and the total amount of taxes paid is disclosed (IAS 7, para. 36).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As operating necessarily, all tax being so.","es":""},"correct":false,"feedback":{"fr":"","en":"Specific identification is possible here.","es":""}},{"id":"B","text":{"fr":"","en":"As financing.","es":""},"correct":false,"feedback":{"fr":"","en":"The transaction is a disposal, not financing.","es":""}},{"id":"C","text":{"fr":"","en":"As investing, like the related transaction, with total taxes paid disclosed.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Deducted from the sale price, without separate disclosure, the tax being a direct cost of the sale.","es":""},"correct":false,"feedback":{"fr":"","en":"Taxes are disclosed separately.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000226","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000226","tested_point":"QST.IAS7.000226","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"rule"},"references":["IAS 7 §35","IAS 7 §36"],"exercise":{"prompt":{"fr":"","en":"Which of these statements about taxes paid are correct?","es":""},"explanation":{"fr":"","en":"Tax cash flows are disclosed separately and classified as operating unless specifically identified (IAS 7, para. 35); when allocated between activities, total taxes paid are disclosed (IAS 7, para. 36). Wording before IFRS 18.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"They are always financing.","es":""},"correct":false,"feedback":{"fr":"","en":"Default classification operating.","es":""}},{"id":"B","text":{"fr":"","en":"They are disclosed separately.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"They are operating unless specifically identified.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"If allocated between activities, the total is disclosed.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"They may be offset against grants received.","es":""},"correct":false,"feedback":{"fr":"","en":"No offsetting provided for.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000227","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000227","tested_point":"QST.IAS7.000227","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"rule"},"references":["IAS 7 §14","IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"In Nalmira's statement (direct method), which of these tax presentations comply?","es":""},"explanation":{"fr":"","en":"Payments or refunds of income taxes are operating unless specifically identified (IAS 7, para. 14) and are disclosed separately (IAS 7, para. 35). Wording before IFRS 18.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Taxes paid included in “payments to suppliers”.","es":""},"correct":false,"feedback":{"fr":"","en":"Separate disclosure required.","es":""}},{"id":"B","text":{"fr":"","en":"Deferred tax presented as a payment.","es":""},"correct":false,"feedback":{"fr":"","en":"No cash effect.","es":""}},{"id":"C","text":{"fr":"","en":"A separate line “income taxes paid” within operating flows.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"A tax refund received presented as operating.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000228","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000014","tested_point":"VG.IAS7.000014","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"rule"},"references":["IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"Ralbris's current tax expense is {current_tax_expense} (case data, measured under IAS 12). The current tax liability moves from {opening_liability} to {closing_liability}. Compute tax paid.","es":""},"explanation":{"fr":"","en":"312,000 + 74,000 − 91,000 = 295,000, disclosed separately in operating activities (IAS 7, para. 35). Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Adding the increase in the liability.","es":""},"format":"CALCULATION","placeholders":[{"id":"current_tax_expense","value":"312000","unit":"EUR"},{"id":"opening_liability","value":"74000","unit":"EUR"},{"id":"closing_liability","value":"91000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Current tax expense","es":""},"value":"312000","unit":"EUR"},{"label":{"fr":"","en":"Opening current tax liability","es":""},"value":"74000","unit":"EUR"},{"label":{"fr":"","en":"Closing current tax liability","es":""},"value":"91000","unit":"EUR"}],"steps":[{"id":"TAX_PAID","label":{"fr":"","en":"Tax paid (operating)","es":""},"answer":295000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"TAX_PAID","meaning":{"fr":"","en":"Tax paid (operating)","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Current tax expense","es":""},"value":312000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening current tax liability","es":""},"value":74000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing current tax liability","es":""},"value":91000,"unit":"EUR"}],"result":295000,"unit":"EUR"}],"rationale":{"fr":"","en":"Wording before IFRS 18.","es":""},"references":["REF.IAS7.35"]}},"scope":"CORE_STUDENT","reserve":true},{"key":"QST.IAS7.000229","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000014","tested_point":"VG.IAS7.000014","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"rule"},"references":["IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"Norbris's current tax for the year amounts to {current_tax_expense} (case data). At the start of the year it still owed {opening_liability} to the tax authority; at the end only {closing_liability} remains payable. How much tax did it pay out?","es":""},"explanation":{"fr":"","en":"188,000 + 102,000 − 36,000 = 254,000: the fall in tax owed increases the payment, disclosed separately in operating (IAS 7, para. 35). Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Using only the year's charge.","es":""},"format":"CALCULATION","placeholders":[{"id":"current_tax_expense","value":"188000","unit":"EUR"},{"id":"opening_liability","value":"102000","unit":"EUR"},{"id":"closing_liability","value":"36000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Current tax for the year","es":""},"value":"188000","unit":"EUR"},{"label":{"fr":"","en":"Tax owed at the start","es":""},"value":"102000","unit":"EUR"},{"label":{"fr":"","en":"Tax owed at the end","es":""},"value":"36000","unit":"EUR"}],"steps":[{"id":"TAX_PAID","label":{"fr":"","en":"Tax paid out","es":""},"answer":254000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"TAX_PAID","meaning":{"fr":"","en":"Tax paid out","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Current tax for the year","es":""},"value":188000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Tax owed at the start","es":""},"value":102000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Tax owed at the end","es":""},"value":36000,"unit":"EUR"}],"result":254000,"unit":"EUR","rationale":{"fr":"","en":"188,000 + 102,000 − 36,000 = 254,000: the fall in tax owed increases the payment, disclosed separately in operating (IAS 7, para. 35).","es":""}}],"references":["REF.IAS7.35"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000230","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000230","tested_point":"QST.IAS7.000230","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"rule"},"references":["IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"Selbris's total tax expense is {total_tax_expense}, of which {deferred_tax_expense} is deferred tax (case data). The current tax liability moves from {opening_liability} to {closing_liability}. Compute current tax and tax paid.","es":""},"explanation":{"fr":"","en":"Current tax: 455,000 − 62,000 = 393,000; tax paid: 393,000 + 118,000 − 97,000 = 414,000, disclosed separately in operating (IAS 7, para. 35). Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Starting from total expense.","es":""},"format":"CALCULATION","placeholders":[{"id":"total_tax_expense","value":"455000","unit":"EUR"},{"id":"deferred_tax_expense","value":"62000","unit":"EUR"},{"id":"opening_liability","value":"118000","unit":"EUR"},{"id":"closing_liability","value":"97000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Total tax expense","es":""},"value":"455000","unit":"EUR"},{"label":{"fr":"","en":"Of which deferred tax","es":""},"value":"62000","unit":"EUR"},{"label":{"fr":"","en":"Opening current tax payable","es":""},"value":"118000","unit":"EUR"},{"label":{"fr":"","en":"Closing current tax payable","es":""},"value":"97000","unit":"EUR"}],"steps":[{"id":"CURRENT_TAX","label":{"fr":"","en":"Current tax","es":""},"answer":393000,"tolerance":0,"unit":"EUR"},{"id":"TAX_PAID","label":{"fr":"","en":"Tax paid","es":""},"answer":414000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"CURRENT_TAX","meaning":{"fr":"","en":"Current tax","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Total tax expense","es":""},"value":455000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Of which deferred tax","es":""},"value":62000,"unit":"EUR"}],"result":393000,"unit":"EUR"},{"step":"TAX_PAID","meaning":{"fr":"","en":"Tax paid","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Current tax","es":""},"value":393000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening current tax payable","es":""},"value":118000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing current tax payable","es":""},"value":97000,"unit":"EUR"}],"result":414000,"unit":"EUR"}],"references":["REF.IAS7.35"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000231","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000231","tested_point":"QST.IAS7.000231","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"rule"},"references":["IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"At the start of the year Galvelle had a tax receivable (excess instalments) of {opening_receivable}; at year-end it has a current tax liability of {closing_liability}. Current tax for the year is {current_tax_expense} (case data). Compute net tax paid.","es":""},"explanation":{"fr":"","en":"The opening receivable is a negative liability: 241,000 − 25,000 − 58,000 = 158,000, disclosed separately in operating (IAS 7, para. 35). Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Adding the opening receivable.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_receivable","value":"25000","unit":"EUR"},{"id":"closing_liability","value":"58000","unit":"EUR"},{"id":"current_tax_expense","value":"241000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Opening tax receivable","es":""},"value":"25000","unit":"EUR"},{"label":{"fr":"","en":"Closing current tax liability","es":""},"value":"58000","unit":"EUR"},{"label":{"fr":"","en":"Current tax for the year","es":""},"value":"241000","unit":"EUR"}],"steps":[{"id":"TAX_PAID","label":{"fr":"","en":"Net tax paid","es":""},"answer":158000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"TAX_PAID","meaning":{"fr":"","en":"Net tax paid","es":""},"expression":"a - b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Current tax for the year","es":""},"value":241000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening tax receivable","es":""},"value":25000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing current tax liability","es":""},"value":58000,"unit":"EUR"}],"result":158000,"unit":"EUR","rationale":{"fr":"","en":"The opening receivable is a negative liability: 241,000 − 25,000 − 58,000 = 158,000, disclosed separately in operating (IAS 7, para. 35).","es":""}}],"references":["REF.IAS7.35"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000232","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000232","tested_point":"QST.IAS7.000232","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"rule"},"references":["IAS 7 §36"],"exercise":{"prompt":{"fr":"","en":"Brivelle paid {total_tax_paid} of income tax, of which {tax_on_disposal} is specifically identifiable with the sale of an investment property presented in investing (case data). Compute the portion presented in operating and the total to disclose.","es":""},"explanation":{"fr":"","en":"The flow identifiable with the investing transaction follows that classification: operating 530,000 − 140,000 = 390,000; total taxes paid (530,000) is disclosed (IAS 7, para. 36).","es":""},"common_error":{"fr":"","en":"Forgetting to disclose the total.","es":""},"format":"CALCULATION","placeholders":[{"id":"total_tax_paid","value":"530000","unit":"EUR"},{"id":"tax_on_disposal","value":"140000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Total tax paid","es":""},"value":"530000","unit":"EUR"},{"label":{"fr":"","en":"Tax identified with the sale","es":""},"value":"140000","unit":"EUR"}],"steps":[{"id":"OPERATING_TAX","label":{"fr":"","en":"Tax in operating","es":""},"answer":390000,"tolerance":0,"unit":"EUR"},{"id":"TOTAL_DISCLOSED","label":{"fr":"","en":"Total taxes paid disclosed","es":""},"answer":530000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"OPERATING_TAX","meaning":{"fr":"","en":"Tax in operating","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Total tax paid","es":""},"value":530000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Tax identified with the sale","es":""},"value":140000,"unit":"EUR"}],"result":390000,"unit":"EUR"}],"references":["REF.IAS7.36"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000233","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000233","tested_point":"QST.IAS7.000233","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"rule"},"references":["IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"Talvelle includes its income taxes paid in the line “payments to suppliers and employees”. What is the error?","es":""},"explanation":{"fr":"","en":"Cash flows arising from taxes on income are disclosed separately (IAS 7, para. 35). Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Taxes must be classified as financing.","es":""},"correct":false,"feedback":{"fr":"","en":"The default is operating.","es":""}},{"id":"B","text":{"fr":"","en":"There is no error, income tax being an operating flow anyway.","es":""},"correct":false,"feedback":{"fr":"","en":"It must also be disclosed separately.","es":""}},{"id":"C","text":{"fr":"","en":"Taxes must be excluded from the statement.","es":""},"correct":false,"feedback":{"fr":"","en":"They are cash flows.","es":""}},{"id":"D","text":{"fr":"","en":"Income tax cash flows must be disclosed separately.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000234","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000234","tested_point":"QST.IAS7.000234","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"rule"},"references":["IAS 7 §36"],"exercise":{"prompt":{"fr":"","en":"Pirtara allocates its tax paid in proportion to each activity’s result (60% operating, 40% investing), without being able to link the flows to specific transactions, and does not disclose the total. What is the error?","es":""},"explanation":{"fr":"","en":"Taxes paid are usually operating; a flow follows investing or financing only if it can be identified with it, and when allocated the total is disclosed (IAS 7, para. 36).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Without identification, tax paid stays operating; any allocation requires the total.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The 60/40 key must be replaced by 50/50.","es":""},"correct":false,"feedback":{"fr":"","en":"The issue is not the key.","es":""}},{"id":"C","text":{"fr":"","en":"There is no error, allocation in proportion to the profit of each activity being permitted with no further disclosure.","es":""},"correct":false,"feedback":{"fr":"","en":"Specific identification is needed.","es":""}},{"id":"D","text":{"fr":"","en":"All tax must be classified as investing.","es":""},"correct":false,"feedback":{"fr":"","en":"The default is operating.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000237","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000237","tested_point":"QST.IAS7.000237","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":170,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"rule"},"references":["IAS 7 §35"],"exercise":{"prompt":{"fr":"","en":"Fenlane receives a refund of 60,000 of income tax overpaid in prior years (case data). How should it be presented?","es":""},"explanation":{"fr":"","en":"Income tax cash flows, payments and refunds alike, are disclosed separately and classified as operating unless specifically identified (IAS 7, para. 35). Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As investing, being a receivable from the State repaid in cash.","es":""},"correct":false,"feedback":{"fr":"","en":"A tax refund is operating by default.","es":""}},{"id":"B","text":{"fr":"","en":"As an operating receipt, within separately disclosed tax flows.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Outside the statement, relating to prior years.","es":""},"correct":false,"feedback":{"fr":"","en":"The flow occurs in the period.","es":""}},{"id":"D","text":{"fr":"","en":"As financing.","es":""},"correct":false,"feedback":{"fr":"","en":"Not a financing resource.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000238","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000238","tested_point":"QST.IAS7.000238","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"rule"},"references":["IAS 7 §36"],"exercise":{"prompt":{"fr":"","en":"Ostbane issues a loan whose issue costs are tax-deductible; the related tax saving is spread over several quarterly instalments and cannot be isolated (case data). How should the effect on tax paid be classified?","es":""},"explanation":{"fr":"","en":"The tax cash flow relating to a financing transaction is often impracticable to identify and may arise in another period: taxes paid are then classified as operating (IAS 7, para. 36).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As financing, the saving arising from the loan, even with no identifiable flow.","es":""},"correct":false,"feedback":{"fr":"","en":"Identification requires an identifiable flow.","es":""}},{"id":"B","text":{"fr":"","en":"Outside the statement, the saving not being a flow.","es":""},"correct":false,"feedback":{"fr":"","en":"It reduces actual payments.","es":""}},{"id":"C","text":{"fr":"","en":"As investing.","es":""},"correct":false,"feedback":{"fr":"","en":"No link with investing.","es":""}},{"id":"D","text":{"fr":"","en":"As operating, with the rest of tax paid, as no flow is identifiable.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000239","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INCOME_TAXES"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000239","tested_point":"QST.IAS7.000239","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000013","section_id":"rule"},"references":["IAS 7 §35","IAS 7 §36"],"exercise":{"prompt":{"fr":"","en":"Kalmont's statement presents “taxes paid: 420,000” in operating, equal to total tax expense (of which 70,000 is deferred tax); the current tax liability rose from 50,000 to 80,000 (case data). What corrected amount should be presented?","es":""},"explanation":{"fr":"","en":"Tax flows disclosed separately in operating (IAS 7, para. 35) are payments: current tax 420,000 − 70,000 = 350,000, less the rise in the liability (30,000) = 320,000. Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"350,000, removing only deferred tax.","es":""},"correct":false,"feedback":{"fr":"","en":"The change in the liability is forgotten.","es":""}},{"id":"B","text":{"fr":"","en":"380,000.","es":""},"correct":false,"feedback":{"fr":"","en":"Reversed sign of the change.","es":""}},{"id":"C","text":{"fr":"","en":"320,000.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"420,000.","es":""},"correct":false,"feedback":{"fr":"","en":"Total expense is not the payment.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000240","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000240","tested_point":"QST.IAS7.000240","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000014","section_id":"rule"},"references":["IAS 7 §37"],"exercise":{"prompt":{"fr":"","en":"When an investment is accounted for using the equity method, the investor restricts its statement to cash flows between itself and the investee, such as dividends and advances.","es":""},"explanation":{"fr":"","en":"For an investment accounted for using the equity or cost method, the investor restricts its reporting to cash flows between itself and the investee, for example dividends and advances (IAS 7, para. 37).","es":""},"common_error":{"fr":"","en":"Presenting the share of profit as a receipt.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000241","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000241","tested_point":"QST.IAS7.000241","difficulty":"ADVANCED","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000014","section_id":"rule"},"references":["IAS 7 §38"],"exercise":{"prompt":{"fr":"","en":"An entity that equity-accounts a joint venture need not present the advances it makes to it, as these are eliminated on consolidation.","es":""},"explanation":{"fr":"","en":"An entity that equity-accounts an associate or joint venture reports the cash flows relating to its investments in it and the distributions and other payments or receipts between them (IAS 7, para. 38).","es":""},"common_error":{"fr":"","en":"Omitting advances made to a joint venture.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000242","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000242","tested_point":"QST.IAS7.000242","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000014","section_id":"rule"},"references":["IAS 7 §37"],"exercise":{"prompt":{"fr":"","en":"Halquine holds 30% of an equity-accounted associate. Which of these items appears in its statement?","es":""},"explanation":{"fr":"","en":"The investor restricts its reporting to cash flows between itself and the investee, such as dividends and advances (IAS 7, para. 37).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The share of the associate's profit, presented as an operating receipt for the period.","es":""},"correct":false,"feedback":{"fr":"","en":"Not a receipt.","es":""}},{"id":"B","text":{"fr":"","en":"Dividends received from the associate.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"30% of the associate's operating cash flows.","es":""},"correct":false,"feedback":{"fr":"","en":"The associate's flows are not included.","es":""}},{"id":"D","text":{"fr":"","en":"30% of the associate's cash.","es":""},"correct":false,"feedback":{"fr":"","en":"No proportional inclusion.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000243","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000243","tested_point":"QST.IAS7.000243","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000014","section_id":"rule"},"references":["IAS 7 §38"],"exercise":{"prompt":{"fr":"","en":"Brelmont subscribes 2 million to a capital increase of its equity-accounted joint venture and lends it 500,000. Which flows should be presented?","es":""},"explanation":{"fr":"","en":"The entity reports the cash flows relating to its investments in the associate or joint venture and the other payments or receipts between them (IAS 7, para. 38).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Both payments, as flows of the investment in the joint venture and payments between them.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Only the subscription, the loan being intragroup and eliminated like other intragroup transactions.","es":""},"correct":false,"feedback":{"fr":"","en":"An equity-accounted JV is not eliminated.","es":""}},{"id":"C","text":{"fr":"","en":"None, the transactions staying within the group.","es":""},"correct":false,"feedback":{"fr":"","en":"They are flows with an outside party for the statement.","es":""}},{"id":"D","text":{"fr":"","en":"The share of the joint venture's flows.","es":""},"correct":false,"feedback":{"fr":"","en":"The investee's flows are not included.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000244","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000244","tested_point":"QST.IAS7.000244","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000014","section_id":"rule"},"references":["IAS 7 §37","IAS 7 §38"],"exercise":{"prompt":{"fr":"","en":"Which of these flows does the Kelmont group present for its equity-accounted associates?","es":""},"explanation":{"fr":"","en":"Only cash flows between the investor and the investee appear (IAS 7, para. 37): investments, distributions and other payments or receipts between them (IAS 7, para. 38).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Share of profit of associates.","es":""},"correct":false,"feedback":{"fr":"","en":"Not a cash flow.","es":""}},{"id":"B","text":{"fr":"","en":"Advances made to an associate.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Purchases of materials by the associates from third parties.","es":""},"correct":false,"feedback":{"fr":"","en":"The associate's flows, not Kelmont's.","es":""}},{"id":"D","text":{"fr":"","en":"Acquisition of shares in a new associate.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Dividends received from associates.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000245","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000245","tested_point":"QST.IAS7.000245","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000014","section_id":"rule"},"references":["IAS 7 §37"],"exercise":{"prompt":{"fr":"","en":"Selmira's investment in an associate moves from {opening_carrying} to {closing_carrying}. Its share of profit is {share_of_profit}; no change other than dividends (case data). Compute dividends received.","es":""},"explanation":{"fr":"","en":"840,000 + 142,000 − 905,000 = 77,000: only this dividend, a flow between the investor and the associate, appears in the statement (IAS 7, para. 37).","es":""},"common_error":{"fr":"","en":"Presenting the share as a receipt.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_carrying","value":"840000","unit":"EUR"},{"id":"closing_carrying","value":"905000","unit":"EUR"},{"id":"share_of_profit","value":"142000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Opening equity-accounted amount","es":""},"value":"840000","unit":"EUR"},{"label":{"fr":"","en":"Closing equity-accounted amount","es":""},"value":"905000","unit":"EUR"},{"label":{"fr":"","en":"Share of profit","es":""},"value":"142000","unit":"EUR"}],"steps":[{"id":"DIVIDENDS_RECEIVED","label":{"fr":"","en":"Dividends received","es":""},"answer":77000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"DIVIDENDS_RECEIVED","meaning":{"fr":"","en":"Dividends received","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Opening equity-accounted amount","es":""},"value":840000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Share of profit","es":""},"value":142000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing equity-accounted amount","es":""},"value":905000,"unit":"EUR"}],"result":77000,"unit":"EUR","rationale":{"fr":"","en":"840,000 + 142,000 − 905,000 = 77,000: only this dividend, a flow between the investor and the associate, appears in the statement (IAS 7, para. 37).","es":""}}],"references":["REF.IAS7.37"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000246","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000246","tested_point":"QST.IAS7.000246","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000014","section_id":"rule"},"references":["IAS 7 §37","IAS 7 §38"],"exercise":{"prompt":{"fr":"","en":"Corbane's investment in its joint venture moves from {opening_carrying} to {closing_carrying}. Corbane subscribed {additional_investment} in cash to a capital increase; its share of profit is {share_of_profit}. Compute dividends received and the investing outflow.","es":""},"explanation":{"fr":"","en":"Dividends: 1,520,000 + 400,000 + 233,000 − 2,045,000 = 108,000; the subscription (400,000) is a flow relating to the investment in the joint venture (IAS 7, para. 38), presented separately from the dividends (IAS 7, para. 37).","es":""},"common_error":{"fr":"","en":"Netting dividends and subscription.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_carrying","value":"1520000","unit":"EUR"},{"id":"closing_carrying","value":"2045000","unit":"EUR"},{"id":"additional_investment","value":"400000","unit":"EUR"},{"id":"share_of_profit","value":"233000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Opening amount","es":""},"value":"1520000","unit":"EUR"},{"label":{"fr":"","en":"Closing amount","es":""},"value":"2045000","unit":"EUR"},{"label":{"fr":"","en":"Cash subscription","es":""},"value":"400000","unit":"EUR"},{"label":{"fr":"","en":"Share of profit","es":""},"value":"233000","unit":"EUR"}],"steps":[{"id":"DIVIDENDS_RECEIVED","label":{"fr":"","en":"Dividends received","es":""},"answer":108000,"tolerance":0,"unit":"EUR"},{"id":"INVESTING_OUTFLOW","label":{"fr":"","en":"Investing outflow","es":""},"answer":400000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"DIVIDENDS_RECEIVED","meaning":{"fr":"","en":"Dividends received","es":""},"expression":"a + b + c - d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Opening amount","es":""},"value":1520000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Cash subscription","es":""},"value":400000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Share of profit","es":""},"value":233000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Closing amount","es":""},"value":2045000,"unit":"EUR"}],"result":108000,"unit":"EUR"}],"references":["REF.IAS7.37","REF.IAS7.38"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000247","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000247","tested_point":"QST.IAS7.000247","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000014","section_id":"rule"},"references":["IAS 7 §37"],"exercise":{"prompt":{"fr":"","en":"Pelquine's associate made a loss: Pelquine's share is a loss of {share_of_loss}. The equity-accounted amount moves from {opening_carrying} to {closing_carrying}; only the share and dividends changed it (case data). Compute dividends received.","es":""},"explanation":{"fr":"","en":"610,000 − 35,000 − 548,000 = 27,000: despite the loss, a dividend was paid; only this flow between investor and associate appears in the statement (IAS 7, para. 37).","es":""},"common_error":{"fr":"","en":"Adding the share of loss.","es":""},"format":"CALCULATION","placeholders":[{"id":"share_of_loss","value":"35000","unit":"EUR"},{"id":"opening_carrying","value":"610000","unit":"EUR"},{"id":"closing_carrying","value":"548000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Share of loss","es":""},"value":"35000","unit":"EUR"},{"label":{"fr":"","en":"Opening amount","es":""},"value":"610000","unit":"EUR"},{"label":{"fr":"","en":"Closing amount","es":""},"value":"548000","unit":"EUR"}],"steps":[{"id":"DIVIDENDS_RECEIVED","label":{"fr":"","en":"Dividends received","es":""},"answer":27000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"DIVIDENDS_RECEIVED","meaning":{"fr":"","en":"Dividends received","es":""},"expression":"a - b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Opening amount","es":""},"value":610000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Share of loss","es":""},"value":35000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Closing amount","es":""},"value":548000,"unit":"EUR"}],"result":27000,"unit":"EUR"}],"references":["REF.IAS7.37"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000248","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000248","tested_point":"QST.IAS7.000248","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000014","section_id":"rule"},"references":["IAS 7 §37"],"exercise":{"prompt":{"fr":"","en":"Ostmont presents in investing a “receipt” of 180,000 equal to its share of profit in an associate that distributed nothing. What is the error?","es":""},"explanation":{"fr":"","en":"Only cash flows between the investor and the investee, such as dividends, appear (IAS 7, para. 37); an undistributed share of profit is not a cash flow.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No cash flow occurred: the share of profit is not a receipt.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The amount should appear in operating, the share being income from ordinary activities.","es":""},"correct":false,"feedback":{"fr":"","en":"It is not a flow anywhere.","es":""}},{"id":"C","text":{"fr":"","en":"Only 30% should be presented.","es":""},"correct":false,"feedback":{"fr":"","en":"Nothing should be presented.","es":""}},{"id":"D","text":{"fr":"","en":"There is no error.","es":""},"correct":false,"feedback":{"fr":"","en":"The share is not a cash flow.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000249","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INVESTEES"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000249","tested_point":"QST.IAS7.000249","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000014","section_id":"rule"},"references":["IAS 7 §38"],"exercise":{"prompt":{"fr":"","en":"The Rozmont group lent 1.2 million to its equity-accounted joint venture; its consolidated statement does not mention it, “intragroup transactions being eliminated”. What is the error?","es":""},"explanation":{"fr":"","en":"An entity that equity-accounts a joint venture reports the distributions and other payments or receipts between them (IAS 7, para. 38); there is no elimination as for a subsidiary.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The loan should appear in financing.","es":""},"correct":false,"feedback":{"fr":"","en":"Rozmont is the lender.","es":""}},{"id":"B","text":{"fr":"","en":"The loan to an equity-accounted joint venture is a cash flow to present.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"There is no error.","es":""},"correct":false,"feedback":{"fr":"","en":"The joint venture is not consolidated line by line.","es":""}},{"id":"D","text":{"fr":"","en":"Only interest on the loan should appear, the principal being eliminated as an intragroup transaction.","es":""},"correct":false,"feedback":{"fr":"","en":"The principal lent is also a cash flow.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000250","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CONTROL_OBTAINED_OR_LOST"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000250","tested_point":"QST.IAS7.000250","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"separate-line"},"references":["IAS 7 §39"],"exercise":{"prompt":{"fr":"","en":"How is the total cash effect of gaining or losing control of a subsidiary presented?","es":""},"explanation":{"fr":"","en":"The total cash effect of gaining or losing control of subsidiaries or other businesses is shown separately, within investing activities (IAS 7, para. 39).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As financing, being transactions in equity instruments of group companies.","es":""},"correct":false,"feedback":{"fr":"","en":"That applies to changes without loss of control.","es":""}},{"id":"B","text":{"fr":"","en":"Split line by line within operating flows.","es":""},"correct":false,"feedback":{"fr":"","en":"They are separate aggregate flows.","es":""}},{"id":"C","text":{"fr":"","en":"Separately, as investing activities.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Only in the notes, outside the statement.","es":""},"correct":false,"feedback":{"fr":"","en":"They appear in the statement.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000251","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CONTROL_OBTAINED_OR_LOST"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000251","tested_point":"QST.IAS7.000251","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"separate-line"},"references":["IAS 7 §42"],"exercise":{"prompt":{"fr":"","en":"What amount is presented in the statement for the acquisition of a subsidiary paid in cash?","es":""},"explanation":{"fr":"","en":"The aggregate amount of cash paid or received as consideration for obtaining or losing control is reported net of cash and cash equivalents acquired or disposed of (IAS 7, para. 42).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Total consideration, including the part settled in new shares issued by the acquirer.","es":""},"correct":false,"feedback":{"fr":"","en":"The share part is not a cash flow.","es":""}},{"id":"B","text":{"fr":"","en":"The fair value of net assets acquired.","es":""},"correct":false,"feedback":{"fr":"","en":"It is not a cash flow.","es":""}},{"id":"C","text":{"fr":"","en":"Cash paid, with no deduction.","es":""},"correct":false,"feedback":{"fr":"","en":"Cash acquired must be deducted.","es":""}},{"id":"D","text":{"fr":"","en":"Cash paid, net of the cash and cash equivalents of the subsidiary acquired.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000252","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CONTROL_OBTAINED_OR_LOST"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000252","tested_point":"QST.IAS7.000252","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"separate-line"},"references":["IAS 7 §40A"],"exercise":{"prompt":{"fr":"","en":"An investment entity that must measure a subsidiary at fair value through profit or loss loses control of it. Which exemption may it apply?","es":""},"explanation":{"fr":"","en":"An investment entity need not apply paras 40(c) and 40(d) to an investment in a subsidiary required to be measured at fair value through profit or loss (IAS 7, para. 40A).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Presenting no cash flow from the disposal in the statement, the subsidiary never having been consolidated.","es":""},"correct":false,"feedback":{"fr":"","en":"The exemption is limited to some disclosures.","es":""}},{"id":"B","text":{"fr":"","en":"Not disclosing the subsidiary's cash nor its other assets and liabilities by category.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Classifying the disposal as financing.","es":""},"correct":false,"feedback":{"fr":"","en":"This is not what the exemption covers.","es":""}},{"id":"D","text":{"fr":"","en":"Not disclosing the consideration received.","es":""},"correct":false,"feedback":{"fr":"","en":"The consideration must still be disclosed.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000253","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CONTROL_OBTAINED_OR_LOST"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000253","tested_point":"QST.IAS7.000253","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"separate-line"},"references":["IAS 7 §40"],"exercise":{"prompt":{"fr":"","en":"For obtaining control during the period, which information does the entity disclose in aggregate?","es":""},"explanation":{"fr":"","en":"The entity discloses in aggregate the total consideration, the portion in cash and cash equivalents, the cash of the subsidiaries concerned and their other assets and liabilities by major category (IAS 7, para. 40).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The portion of consideration consisting of cash and cash equivalents.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Cash and cash equivalents of the subsidiaries acquired.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The acquirer's share price at the acquisition date.","es":""},"correct":false,"feedback":{"fr":"","en":"Not required by this standard.","es":""}},{"id":"D","text":{"fr":"","en":"Assets and liabilities other than cash, summarised by major category.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Total consideration paid.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000254","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CONTROL_OBTAINED_OR_LOST"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000254","tested_point":"QST.IAS7.000254","difficulty":"EXPERT","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":140,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"separate-line"},"references":["IAS 7 §39","IAS 7 §41","IAS 7 §42"],"exercise":{"prompt":{"fr":"","en":"The Rosdine group acquired one subsidiary (net outflow of 3 million) and sold another (net inflow of 1.8 million). Which of these presentations comply?","es":""},"explanation":{"fr":"","en":"Cash flows from obtaining and losing control are presented separately in investing (IAS 7, para. 39), without offsetting them (IAS 7, para. 41), and net of cash acquired or disposed of (IAS 7, para. 42).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Each amount net of the cash acquired or disposed of.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The disposal in operating, the subsidiary being a trading company.","es":""},"correct":false,"feedback":{"fr":"","en":"Investing.","es":""}},{"id":"C","text":{"fr":"","en":"Two separate investing lines: −3 million and +1.8 million.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"One net line of −1.2 million.","es":""},"correct":false,"feedback":{"fr":"","en":"Losses and gains of control are not offset.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000255","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CONTROL_OBTAINED_OR_LOST"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000015","tested_point":"VG.IAS7.000015","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"separate-line"},"references":["IAS 7 §42"],"exercise":{"prompt":{"fr":"","en":"The Lirmont group acquires 100% of Taldine for consideration of {total_consideration}, of which {shares_issued} in new Lirmont shares and the balance in cash. Taldine holds {cash_acquired} of cash. Compute the net investing outflow.","es":""},"explanation":{"fr":"","en":"Cash paid: 9,000,000 − 2,500,000 = 6,500,000; presented net of cash acquired (IAS 7, para. 42): 6,500,000 − 740,000 = 5,760,000. The share issue is a non-cash transaction.","es":""},"common_error":{"fr":"","en":"Forgetting to deduct cash acquired.","es":""},"format":"CALCULATION","placeholders":[{"id":"total_consideration","value":"9000000","unit":"EUR"},{"id":"shares_issued","value":"2500000","unit":"EUR"},{"id":"cash_acquired","value":"740000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Total consideration","es":""},"value":"9000000","unit":"EUR"},{"label":{"fr":"","en":"Part settled in shares","es":""},"value":"2500000","unit":"EUR"},{"label":{"fr":"","en":"Cash of the subsidiary acquired","es":""},"value":"740000","unit":"EUR"}],"steps":[{"id":"NET_OUTFLOW","label":{"fr":"","en":"Net investing outflow","es":""},"answer":5760000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"NET_OUTFLOW","meaning":{"fr":"","en":"Net investing outflow","es":""},"expression":"(a - b) - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Total consideration","es":""},"value":9000000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Part settled in shares","es":""},"value":2500000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Cash of the subsidiary acquired","es":""},"value":740000,"unit":"EUR"}],"result":5760000,"unit":"EUR"}],"references":["REF.IAS7.42"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000256","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CONTROL_OBTAINED_OR_LOST"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000015","tested_point":"VG.IAS7.000015","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"separate-line"},"references":["IAS 7 §42"],"exercise":{"prompt":{"fr":"","en":"To gain control of Orvaldis, the Peltmont group pays {cash_paid} in cash and hands over {shares_issued} of its own shares. At the acquisition date Orvaldis has {cash_acquired} in its bank accounts. What net amount appears in investing cash flows?","es":""},"explanation":{"fr":"","en":"The amount presented is cash paid net of cash acquired (IAS 7, para. 42): 4,200,000 − 615,000 = 3,585,000; the shares handed over (1,300,000) are not a cash flow.","es":""},"common_error":{"fr":"","en":"Adding the shares to the outflow.","es":""},"format":"CALCULATION","placeholders":[{"id":"cash_paid","value":"4200000","unit":"EUR"},{"id":"shares_issued","value":"1300000","unit":"EUR"},{"id":"cash_acquired","value":"615000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Cash paid","es":""},"value":"4200000","unit":"EUR"},{"label":{"fr":"","en":"Shares handed over","es":""},"value":"1300000","unit":"EUR"},{"label":{"fr":"","en":"Orvaldis's cash","es":""},"value":"615000","unit":"EUR"}],"steps":[{"id":"NET_OUTFLOW","label":{"fr":"","en":"Net outflow","es":""},"answer":3585000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"NET_OUTFLOW","meaning":{"fr":"","en":"Net outflow","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cash paid","es":""},"value":4200000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Orvaldis's cash","es":""},"value":615000,"unit":"EUR"}],"result":3585000,"unit":"EUR","rationale":{"fr":"","en":"The amount presented is cash paid net of cash acquired (IAS 7, para. 42): 4,200,000 − 615,000 = 3,585,000","es":""}}],"references":["REF.IAS7.42"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000257","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CONTROL_OBTAINED_OR_LOST"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000257","tested_point":"QST.IAS7.000257","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":260,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"separate-line"},"references":["IAS 7 §42"],"exercise":{"prompt":{"fr":"","en":"The Ardmont group sells its subsidiary Dorrane for {sale_price}, of which {deferred_consideration} is payable in 18 months; Dorrane held {cash_disposed} of cash at the disposal date (case data). Compute the net investing inflow for the period.","es":""},"explanation":{"fr":"","en":"Cash received: 6,500,000 − 1,500,000 = 5,000,000; presented net of cash disposed of (IAS 7, para. 42): 5,000,000 − 820,000 = 4,180,000.","es":""},"common_error":{"fr":"","en":"Using the full price.","es":""},"format":"CALCULATION","placeholders":[{"id":"sale_price","value":"6500000","unit":"EUR"},{"id":"deferred_consideration","value":"1500000","unit":"EUR"},{"id":"cash_disposed","value":"820000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Sale price","es":""},"value":"6500000","unit":"EUR"},{"label":{"fr":"","en":"Deferred part","es":""},"value":"1500000","unit":"EUR"},{"label":{"fr":"","en":"Cash of the subsidiary disposed of","es":""},"value":"820000","unit":"EUR"}],"steps":[{"id":"NET_INFLOW","label":{"fr":"","en":"Net investing inflow","es":""},"answer":4180000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"NET_INFLOW","meaning":{"fr":"","en":"Net investing inflow","es":""},"expression":"(a - b) - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Sale price","es":""},"value":6500000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Deferred part","es":""},"value":1500000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Cash of the subsidiary disposed of","es":""},"value":820000,"unit":"EUR"}],"result":4180000,"unit":"EUR"}],"references":["REF.IAS7.42"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000258","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CONTROL_OBTAINED_OR_LOST"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000258","tested_point":"QST.IAS7.000258","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":260,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"separate-line"},"references":["IAS 7 §39"],"exercise":{"prompt":{"fr":"","en":"Gelmont's consolidated trade receivables move from {opening_receivables} to {closing_receivables}. A subsidiary acquired during the year brought {acquired_receivables} of receivables at the date control was obtained. Compute the change in receivables to use in operating cash flow (negative if it reduces the flow).","es":""},"explanation":{"fr":"","en":"The receivables brought in are part of the assets acquired, whose effect is included in the aggregate investing flow (IAS 7, para. 39): own increase = 2,950,000 − 2,300,000 − 480,000 = 170,000, i.e. an adjustment of −170,000.","es":""},"common_error":{"fr":"","en":"Using the whole increase in consolidated receivables.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_receivables","value":"2300000","unit":"EUR"},{"id":"closing_receivables","value":"2950000","unit":"EUR"},{"id":"acquired_receivables","value":"480000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Opening consolidated receivables","es":""},"value":"2300000","unit":"EUR"},{"label":{"fr":"","en":"Closing consolidated receivables","es":""},"value":"2950000","unit":"EUR"},{"label":{"fr":"","en":"Receivables brought by the subsidiary acquired","es":""},"value":"480000","unit":"EUR"}],"steps":[{"id":"WORKING_CAPITAL_ADJUSTMENT","label":{"fr":"","en":"Receivables adjustment","es":""},"answer":-170000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000259","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CONTROL_OBTAINED_OR_LOST"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000259","tested_point":"QST.IAS7.000259","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"separate-line"},"references":["IAS 7 §42"],"exercise":{"prompt":{"fr":"","en":"Belvane presents an outflow of 5 million for the acquisition of a subsidiary paid in cash, although the subsidiary held 900,000 of cash. What is the error?","es":""},"explanation":{"fr":"","en":"Cash paid for obtaining control is presented net of cash and cash equivalents acquired (IAS 7, para. 42): 5,000,000 − 900,000 = 4,100,000.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The flow must be net of cash acquired: 4.1 million.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Cash acquired must be presented as an operating receipt.","es":""},"correct":false,"feedback":{"fr":"","en":"It is deducted from the acquisition flow.","es":""}},{"id":"C","text":{"fr":"","en":"The flow should be in financing.","es":""},"correct":false,"feedback":{"fr":"","en":"Obtaining control: investing.","es":""}},{"id":"D","text":{"fr":"","en":"There is no error.","es":""},"correct":false,"feedback":{"fr":"","en":"The deduction is missing.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000260","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CONTROL_OBTAINED_OR_LOST"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000260","tested_point":"QST.IAS7.000260","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":170,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"separate-line"},"references":["IAS 7 §39"],"exercise":{"prompt":{"fr":"","en":"In its indirect reconciliation, Falquine uses the gross change in its consolidated inventories, without removing the 600,000 of inventories brought by a subsidiary acquired. What is the error?","es":""},"explanation":{"fr":"","en":"The aggregate cash flows from obtaining control are presented separately in investing (IAS 7, para. 39); the assets brought by the subsidiary are therefore not an operating change.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The inventories brought in must be added a second time.","es":""},"correct":false,"feedback":{"fr":"","en":"That would be a double error.","es":""}},{"id":"B","text":{"fr":"","en":"There is no error, the inventories being consolidated.","es":""},"correct":false,"feedback":{"fr":"","en":"The change includes an acquisition effect.","es":""}},{"id":"C","text":{"fr":"","en":"The change in inventories must be classified as investing, since part of it comes from acquiring a subsidiary.","es":""},"correct":false,"feedback":{"fr":"","en":"Only the acquired part relates to it.","es":""}},{"id":"D","text":{"fr":"","en":"Inventories brought in belong to the acquisition flow; the operating change excludes them.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000261","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CONTROL_OBTAINED_OR_LOST"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000261","tested_point":"QST.IAS7.000261","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"separate-line"},"references":["IAS 7 §40","IAS 7 §42"],"exercise":{"prompt":{"fr":"","en":"Halvelle gains control of Sorbane for 3 million paid in cash; Sorbane holds 250,000 of cash, 1.4 million of inventories and receivables and 600,000 of liabilities. Which presentation is complete?","es":""},"explanation":{"fr":"","en":"The flow is presented net of cash acquired (3,000,000 − 250,000 = 2,750,000) (IAS 7, para. 42) and the entity discloses the consideration, its cash portion, the subsidiary’s cash and its other assets and liabilities by category (IAS 7, para. 40).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Investing outflow of 3 million, i.e. the price paid, with no other information on the subsidiary acquired.","es":""},"correct":false,"feedback":{"fr":"","en":"Neither net nor disclosures.","es":""}},{"id":"B","text":{"fr":"","en":"Outflow of 2.75 million net of cash acquired, the aggregate amount being sufficient without disclosure in the notes.","es":""},"correct":false,"feedback":{"fr":"","en":"The aggregate disclosures are required.","es":""}},{"id":"C","text":{"fr":"","en":"Investing outflow of 2.75 million; in the notes, consideration, cash portion, cash acquired and other assets and liabilities by category.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Outflow of 1.95 million, deducting from the price the cash acquired and also the liabilities assumed with the subsidiary.","es":""},"correct":false,"feedback":{"fr":"","en":"Only cash acquired is deducted.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000262","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CONTROL_OBTAINED_OR_LOST"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000262","tested_point":"QST.IAS7.000262","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"separate-line"},"references":["IAS 7 §40","IAS 7 §42"],"exercise":{"prompt":{"fr":"","en":"Lirvane acquires a subsidiary whose cash (1.2 million) exceeds the cash price paid (0.9 million): the subsidiary was very liquid (case data). How should the transaction be presented?","es":""},"explanation":{"fr":"","en":"The amount presented is net of cash acquired (IAS 7, para. 42): 0.9 − 1.2 = −0.3 million, i.e. a net inflow; the aggregate disclosures are still required (IAS 7, para. 40).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Investing outflow of 0.9 million and operating receipt of 1.2 million for the cash acquired.","es":""},"correct":false,"feedback":{"fr":"","en":"Cash acquired is not an operating flow.","es":""}},{"id":"B","text":{"fr":"","en":"No flow, the net balance being favourable.","es":""},"correct":false,"feedback":{"fr":"","en":"The net 0.3 million is presented.","es":""}},{"id":"C","text":{"fr":"","en":"Net investing inflow of 0.3 million, with the aggregate disclosures in the notes.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Outflow of 0.9 million with no deduction.","es":""},"correct":false,"feedback":{"fr":"","en":"Cash acquired must be deducted.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000264","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CHANGES_WITHOUT_LOSS_OF_CONTROL"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000264","tested_point":"QST.IAS7.000264","difficulty":"ADVANCED","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"separate-line"},"references":["IAS 7 §42A"],"exercise":{"prompt":{"fr":"","en":"A parent's payment to acquire additional interests in a subsidiary it already controls is a financing cash flow.","es":""},"explanation":{"fr":"","en":"When a parent's interest in a subsidiary changes without loss of control, the cash flows are financing, except for a subsidiary of an investment entity measured at fair value through profit or loss (IAS 7, para. 42A).","es":""},"common_error":{"fr":"","en":"Classifying a buy-out of minorities as investing.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000265","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CHANGES_WITHOUT_LOSS_OF_CONTROL"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000265","tested_point":"QST.IAS7.000265","difficulty":"EXPERT","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"separate-line"},"references":["IAS 7 §42B"],"exercise":{"prompt":{"fr":"","en":"A partial sale of shares in a subsidiary without loss of control is accounted for as an equity transaction, and the cash flow is classified like other transactions with owners.","es":""},"explanation":{"fr":"","en":"Such changes are accounted for as equity transactions (IFRS 10): the related cash flows are classified like other transactions with owners, as financing (IAS 7, para. 42B).","es":""},"common_error":{"fr":"","en":"Presenting the receipt as investing.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000266","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CHANGES_WITHOUT_LOSS_OF_CONTROL"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000266","tested_point":"QST.IAS7.000266","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"separate-line"},"references":["IAS 7 §42A"],"exercise":{"prompt":{"fr":"","en":"Saldane holds 70% of a subsidiary and buys a further 20% from the minority shareholders for 3 million. How should the payment be classified?","es":""},"explanation":{"fr":"","en":"Changes in ownership interests in a subsidiary without loss of control give rise to cash flows classified as financing (IAS 7, para. 42A).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As investing activities, like any acquisition of shares.","es":""},"correct":false,"feedback":{"fr":"","en":"No change of control.","es":""}},{"id":"B","text":{"fr":"","en":"As operating activities.","es":""},"correct":false,"feedback":{"fr":"","en":"No link with operations.","es":""}},{"id":"C","text":{"fr":"","en":"Outside the statement, the transaction being intragroup.","es":""},"correct":false,"feedback":{"fr":"","en":"Minorities are outsiders paid in cash.","es":""}},{"id":"D","text":{"fr":"","en":"As financing activities.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000267","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CHANGES_WITHOUT_LOSS_OF_CONTROL"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000267","tested_point":"QST.IAS7.000267","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"separate-line"},"references":["IAS 7 §42A"],"exercise":{"prompt":{"fr":"","en":"In which case is a change in ownership interest without loss of control not classified as financing?","es":""},"explanation":{"fr":"","en":"Financing applies except where an investment entity holds the subsidiary and must measure it at fair value through profit or loss (IAS 7, para. 42A).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"When the subsidiary is held by an investment entity and must be measured at fair value through profit or loss.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"When the amount paid exceeds 10% of the group's cash, which makes it material for investing activities.","es":""},"correct":false,"feedback":{"fr":"","en":"No such threshold.","es":""}},{"id":"C","text":{"fr":"","en":"When the subsidiary is foreign, flows in foreign currency then following translation rules rather than financing.","es":""},"correct":false,"feedback":{"fr":"","en":"Irrelevant.","es":""}},{"id":"D","text":{"fr":"","en":"When the transaction is paid in instalments, each instalment then being treated as investing.","es":""},"correct":false,"feedback":{"fr":"","en":"No effect on classification.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000268","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CHANGES_WITHOUT_LOSS_OF_CONTROL"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000268","tested_point":"QST.IAS7.000268","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"separate-line"},"references":["IAS 7 §42A"],"exercise":{"prompt":{"fr":"","en":"The Cordane group, which already controlled its 60% subsidiary, presents as investing the purchase of a further 25% for 2.2 million. What is the error?","es":""},"explanation":{"fr":"","en":"Cash flows from changes in ownership interests without loss of control are classified as financing (IAS 7, para. 42A).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The flow should be presented net of the subsidiary's cash.","es":""},"correct":false,"feedback":{"fr":"","en":"That rule concerns gaining control.","es":""}},{"id":"B","text":{"fr":"","en":"With no change of control, the flow is financing.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The flow should be operating.","es":""},"correct":false,"feedback":{"fr":"","en":"Financing.","es":""}},{"id":"D","text":{"fr":"","en":"There is no error.","es":""},"correct":false,"feedback":{"fr":"","en":"Control already existed.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000269","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CHANGES_WITHOUT_LOSS_OF_CONTROL"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000269","tested_point":"QST.IAS7.000269","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":170,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"separate-line"},"references":["IAS 7 §42A","IAS 7 §42B"],"exercise":{"prompt":{"fr":"","en":"Rosvane sells 15% of its 80%-owned subsidiary (keeping control) for 1.5 million and presents the receipt, net of the subsidiary’s cash, as investing. What is the error?","es":""},"explanation":{"fr":"","en":"Without loss of control the flow is financing (IAS 7, para. 42A), like other transactions with owners (IAS 7, para. 42B); the subsidiary’s cash remains consolidated and is not deducted.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Only the deduction of the subsidiary's cash is wrong; investing classification is correct.","es":""},"correct":false,"feedback":{"fr":"","en":"The classification is also wrong.","es":""}},{"id":"B","text":{"fr":"","en":"The flow must be excluded from the statement.","es":""},"correct":false,"feedback":{"fr":"","en":"There is an actual receipt.","es":""}},{"id":"C","text":{"fr":"","en":"There is no error.","es":""},"correct":false,"feedback":{"fr":"","en":"Two errors.","es":""}},{"id":"D","text":{"fr":"","en":"The 1.5 million receipt is a financing flow, with no deduction of the subsidiary’s cash.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000270","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CHANGES_WITHOUT_LOSS_OF_CONTROL","IAS7.GROUP.CONTROL_OBTAINED_OR_LOST"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000270","tested_point":"QST.IAS7.000270","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"separate-line"},"references":["IAS 7 §39","IAS 7 §42A"],"exercise":{"prompt":{"fr":"","en":"The Talbane group held 40% of Morquine (an associate) and buys a further 30% for 4 million, which gives it control (case data). How should the payment be classified?","es":""},"explanation":{"fr":"","en":"Obtaining control gives rise to an aggregate flow presented in investing (IAS 7, para. 39); financing classification only covers changes in interests without a change of control (IAS 7, para. 42A).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As financing, like any acquisition of additional interests in an entity already held.","es":""},"correct":false,"feedback":{"fr":"","en":"Here control is obtained.","es":""}},{"id":"B","text":{"fr":"","en":"As operating.","es":""},"correct":false,"feedback":{"fr":"","en":"Investing.","es":""}},{"id":"C","text":{"fr":"","en":"As investing, net of Morquine's cash, being the obtaining of control.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Outside the statement.","es":""},"correct":false,"feedback":{"fr":"","en":"There is a payment.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000271","standard_id":"IAS7","concept_ids":["IAS7.GROUP.CHANGES_WITHOUT_LOSS_OF_CONTROL"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000271","tested_point":"QST.IAS7.000271","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000015","section_id":"separate-line"},"references":["IAS 7 §42A","IAS 7 §42B"],"exercise":{"prompt":{"fr":"","en":"Isquine buys 10% of a 75%-owned subsidiary, paying 1 million in cash and 0.5 million in one year (case data). Which presentation should be used for the year?","es":""},"explanation":{"fr":"","en":"Flows from changes in interests without loss of control are financing (IAS 7, para. 42A), like other transactions with owners (IAS 7, para. 42B); only cash actually paid in the period is presented.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Financing outflow of 1.5 million this year, the commitment to pay the balance being firm.","es":""},"correct":false,"feedback":{"fr":"","en":"Only the cash part is a flow of the period.","es":""}},{"id":"B","text":{"fr":"","en":"Financing outflow of 1 million; the balance will be financing when paid.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Investing outflow of 1 million.","es":""},"correct":false,"feedback":{"fr":"","en":"No change of control: financing.","es":""}},{"id":"D","text":{"fr":"","en":"No flow, the transaction not being complete.","es":""},"correct":false,"feedback":{"fr":"","en":"1 million was paid.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000272","standard_id":"IAS7","concept_ids":["IAS7.NON_CASH.NON_CASH_TRANSACTIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000272","tested_point":"QST.IAS7.000272","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000016","section_id":"rule"},"references":["IAS 7 §43"],"exercise":{"prompt":{"fr":"","en":"Investing and financing transactions that involve no cash are left out of the statement of cash flows and described elsewhere in the financial statements.","es":""},"explanation":{"fr":"","en":"Investing and financing transactions that involve no cash or cash equivalents are left out of the statement and described elsewhere in the financial statements (IAS 7, para. 43).","es":""},"common_error":{"fr":"","en":"Giving no information on these transactions.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000273","standard_id":"IAS7","concept_ids":["IAS7.NON_CASH.NON_CASH_TRANSACTIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000273","tested_point":"QST.IAS7.000273","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000016","section_id":"rule"},"references":["IAS 7 §44"],"exercise":{"prompt":{"fr":"","en":"Taking a warehouse on a lease recognised on the balance sheet gives rise to an investing outflow and a financing inflow of the same amount.","es":""},"explanation":{"fr":"","en":"The acquisition of assets by means of a lease is among the transactions with no direct impact on cash flows, excluded from the statement (IAS 7, para. 44).","es":""},"common_error":{"fr":"","en":"Presenting fictitious gross flows.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000274","standard_id":"IAS7","concept_ids":["IAS7.NON_CASH.NON_CASH_TRANSACTIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000274","tested_point":"QST.IAS7.000274","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000016","section_id":"rule"},"references":["IAS 7 §44"],"exercise":{"prompt":{"fr":"","en":"Which of these transactions is a non-cash financing transaction?","es":""},"explanation":{"fr":"","en":"The conversion of debt to equity is among the examples of non-cash transactions excluded from the statement (IAS 7, para. 44).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The conversion of debt to equity.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Early repayment of a bank loan by debit to the current account.","es":""},"correct":false,"feedback":{"fr":"","en":"There is a payment.","es":""}},{"id":"C","text":{"fr":"","en":"A share issue for cash.","es":""},"correct":false,"feedback":{"fr":"","en":"There is a receipt.","es":""}},{"id":"D","text":{"fr":"","en":"Payment of a dividend.","es":""},"correct":false,"feedback":{"fr":"","en":"There is a payment.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000275","standard_id":"IAS7","concept_ids":["IAS7.NON_CASH.NON_CASH_TRANSACTIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000275","tested_point":"QST.IAS7.000275","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000016","section_id":"rule"},"references":["IAS 7 §44"],"exercise":{"prompt":{"fr":"","en":"Why is excluding non-cash transactions consistent with the objective of the statement?","es":""},"explanation":{"fr":"","en":"Many investing and financing activities affect capital and asset structure without a direct impact on current cash flows; excluding them is consistent with the objective of the statement (IAS 7, para. 44).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"They have no direct impact on current cash flows, although they affect the capital and asset structure.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"They are generally of an immaterial amount, which allows them to be omitted without impairing the reading of the statement.","es":""},"correct":false,"feedback":{"fr":"","en":"They may be large.","es":""}},{"id":"C","text":{"fr":"","en":"They are a matter of taxation, whose effects are presented in the income tax note rather than in the statement.","es":""},"correct":false,"feedback":{"fr":"","en":"Unrelated.","es":""}},{"id":"D","text":{"fr":"","en":"They are already included in operating cash flow, through the adjustments of the indirect method.","es":""},"correct":false,"feedback":{"fr":"","en":"They appear nowhere in the statement.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000276","standard_id":"IAS7","concept_ids":["IAS7.NON_CASH.NON_CASH_TRANSACTIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000276","tested_point":"QST.IAS7.000276","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000016","section_id":"rule"},"references":["IAS 7 §44"],"exercise":{"prompt":{"fr":"","en":"Tormis acquires a company by issuing only its own shares. How does this acquisition appear in the statement?","es":""},"explanation":{"fr":"","en":"The acquisition of an entity by means of an equity issue is among the transactions with no direct impact on cash flows, excluded from the statement and disclosed elsewhere (IAS 7, para. 44).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Investing outflow and financing inflow for the amount of the shares issued.","es":""},"correct":false,"feedback":{"fr":"","en":"Fictitious flows.","es":""}},{"id":"B","text":{"fr":"","en":"The share consideration is not a cash flow; the transaction is disclosed elsewhere.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Investing outflow only.","es":""},"correct":false,"feedback":{"fr":"","en":"No cash paid.","es":""}},{"id":"D","text":{"fr":"","en":"Financing inflow only.","es":""},"correct":false,"feedback":{"fr":"","en":"No cash received.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000277","standard_id":"IAS7","concept_ids":["IAS7.NON_CASH.NON_CASH_TRANSACTIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000277","tested_point":"QST.IAS7.000277","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000016","section_id":"rule"},"references":["IAS 7 §44"],"exercise":{"prompt":{"fr":"","en":"Which of these transactions of Nervelle are excluded from the statement as non-cash?","es":""},"explanation":{"fr":"","en":"Assuming liabilities, leasing and converting debt to equity are examples of non-cash transactions excluded from the statement (IAS 7, para. 44).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Cash purchase of land.","es":""},"correct":false,"feedback":{"fr":"","en":"Investing flow.","es":""}},{"id":"B","text":{"fr":"","en":"Acquisition of a machine by directly assuming the loan that financed it.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Vehicles taken on lease, recognised on the balance sheet.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Cash repayment of bonds.","es":""},"correct":false,"feedback":{"fr":"","en":"Financing flow.","es":""}},{"id":"E","text":{"fr":"","en":"Conversion of bonds into shares.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000278","standard_id":"IAS7","concept_ids":["IAS7.NON_CASH.NON_CASH_TRANSACTIONS","IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000278","tested_point":"QST.IAS7.000278","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000016","section_id":"rule"},"references":["IAS 7 §43","IAS 7 §44","IAS 7 §44B"],"exercise":{"prompt":{"fr":"","en":"For a 2 million debt-to-equity conversion, which of these presentations comply?","es":""},"explanation":{"fr":"","en":"Non-cash financing transactions are excluded from the statement and disclosed elsewhere (IAS 7, para. 43); the conversion of debt to equity is an example (IAS 7, para. 44); it also appears among the other changes in the financing liabilities reconciliation (IAS 7, para. 44B).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A non-cash change in the financing liabilities reconciliation.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"No information at all.","es":""},"correct":false,"feedback":{"fr":"","en":"Disclosure elsewhere is required.","es":""}},{"id":"C","text":{"fr":"","en":"No flow in the statement.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Disclosure elsewhere in the financial statements.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"A loan repayment and a share issue of 2 million in the statement.","es":""},"correct":false,"feedback":{"fr":"","en":"Fictitious flows.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000279","standard_id":"IAS7","concept_ids":["IAS7.NON_CASH.NON_CASH_TRANSACTIONS"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000016","tested_point":"VG.IAS7.000016","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000016","section_id":"rule"},"references":["IAS 7 §43","IAS 7 §44"],"exercise":{"prompt":{"fr":"","en":"Galdane's additions to tangible assets amount to {total_additions}, including right-of-use assets on new leases of {lease_additions} and a machine acquired by assuming the seller's loan of {assumed_liability}; the rest is paid in cash. Compute the investing outflow.","es":""},"explanation":{"fr":"","en":"Acquisitions by lease or by assuming liabilities are non-cash transactions excluded from the statement (IAS 7, paras. 43 and 44): 3,100,000 − 850,000 − 420,000 = 1,830,000.","es":""},"common_error":{"fr":"","en":"Using all additions.","es":""},"format":"CALCULATION","placeholders":[{"id":"total_additions","value":"3100000","unit":"EUR"},{"id":"lease_additions","value":"850000","unit":"EUR"},{"id":"assumed_liability","value":"420000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Asset additions","es":""},"value":"3100000","unit":"EUR"},{"label":{"fr":"","en":"New right-of-use assets","es":""},"value":"850000","unit":"EUR"},{"label":{"fr":"","en":"Machine acquired by assuming a liability","es":""},"value":"420000","unit":"EUR"}],"steps":[{"id":"INVESTING_OUTFLOW","label":{"fr":"","en":"Investing outflow","es":""},"answer":1830000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"INVESTING_OUTFLOW","meaning":{"fr":"","en":"Investing outflow","es":""},"expression":"a - b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Asset additions","es":""},"value":3100000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"New right-of-use assets","es":""},"value":850000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Machine acquired by assuming a liability","es":""},"value":420000,"unit":"EUR"}],"result":1830000,"unit":"EUR","rationale":{"fr":"","en":"Acquisitions by lease or by assuming liabilities are non-cash transactions excluded from the statement (IAS 7, paras. 43 and 44): 3,100,000 − 850,000 − 420,000 = 1,830,000.","es":""}}],"references":["REF.IAS7.43","REF.IAS7.44"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000280","standard_id":"IAS7","concept_ids":["IAS7.NON_CASH.NON_CASH_TRANSACTIONS"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000016","tested_point":"VG.IAS7.000016","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000016","section_id":"rule"},"references":["IAS 7 §43","IAS 7 §44"],"exercise":{"prompt":{"fr":"","en":"During the year Marvane's fixed assets grew by {total_additions}: land received in exchange for shares issued for {shares_for_asset}, offices taken on lease for {lease_additions}, and equipment paid in cash for the balance. What amount appears as an investing outflow?","es":""},"explanation":{"fr":"","en":"Non-cash transactions excluded from the statement (IAS 7, paras. 43 and 44): 2,240,000 − 600,000 − 715,000 = 925,000; the land and the lease are disclosed elsewhere.","es":""},"common_error":{"fr":"","en":"Including the land received for shares.","es":""},"format":"CALCULATION","placeholders":[{"id":"total_additions","value":"2240000","unit":"EUR"},{"id":"shares_for_asset","value":"600000","unit":"EUR"},{"id":"lease_additions","value":"715000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Increase in fixed assets","es":""},"value":"2240000","unit":"EUR"},{"label":{"fr":"","en":"Land received for shares","es":""},"value":"600000","unit":"EUR"},{"label":{"fr":"","en":"Offices taken on lease","es":""},"value":"715000","unit":"EUR"}],"steps":[{"id":"INVESTING_OUTFLOW","label":{"fr":"","en":"Investing outflow","es":""},"answer":925000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"INVESTING_OUTFLOW","meaning":{"fr":"","en":"Investing outflow","es":""},"expression":"a - b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Increase in fixed assets","es":""},"value":2240000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Land received for shares","es":""},"value":600000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Offices taken on lease","es":""},"value":715000,"unit":"EUR"}],"result":925000,"unit":"EUR"}],"rationale":{"fr":"","en":"Non-cash transactions excluded from the statement (IAS 7, paras. 43 and 44): 2,240,000 − 600,000 − 715,000 = 925,000","es":""},"references":["REF.IAS7.43","REF.IAS7.44"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000281","standard_id":"IAS7","concept_ids":["IAS7.NON_CASH.NON_CASH_TRANSACTIONS"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000281","tested_point":"QST.IAS7.000281","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000016","section_id":"rule"},"references":["IAS 7 §43","IAS 7 §44"],"exercise":{"prompt":{"fr":"","en":"Galtara's gross property, plant and equipment moves from {opening_gross} to {closing_gross}. Disposals (at cost) amount to {disposals_cost}; new leases added {lease_additions} of right-of-use assets included in this item (case data). Compute acquisitions paid.","es":""},"explanation":{"fr":"","en":"Gross additions: 6,180,000 − 5,400,000 + 370,000 = 1,150,000; right-of-use assets are non-cash (IAS 7, para. 44): 1,150,000 − 460,000 = 690,000 (IAS 7, para. 43).","es":""},"common_error":{"fr":"","en":"Forgetting to remove right-of-use assets.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_gross","value":"5400000","unit":"EUR"},{"id":"closing_gross","value":"6180000","unit":"EUR"},{"id":"disposals_cost","value":"370000","unit":"EUR"},{"id":"lease_additions","value":"460000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Opening gross amount","es":""},"value":"5400000","unit":"EUR"},{"label":{"fr":"","en":"Closing gross amount","es":""},"value":"6180000","unit":"EUR"},{"label":{"fr":"","en":"Disposals at cost","es":""},"value":"370000","unit":"EUR"},{"label":{"fr":"","en":"New right-of-use assets","es":""},"value":"460000","unit":"EUR"}],"steps":[{"id":"ACQUISITIONS_PAID","label":{"fr":"","en":"Acquisitions paid","es":""},"answer":690000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"ACQUISITIONS_PAID","meaning":{"fr":"","en":"Acquisitions paid","es":""},"expression":"(a - b + c) - d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Closing gross amount","es":""},"value":6180000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening gross amount","es":""},"value":5400000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Disposals at cost","es":""},"value":370000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"New right-of-use assets","es":""},"value":460000,"unit":"EUR"}],"result":690000,"unit":"EUR"}],"references":["REF.IAS7.43","REF.IAS7.44"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000282","standard_id":"IAS7","concept_ids":["IAS7.NON_CASH.NON_CASH_TRANSACTIONS"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000282","tested_point":"QST.IAS7.000282","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000016","section_id":"rule"},"references":["IAS 7 §44"],"exercise":{"prompt":{"fr":"","en":"Ulvio presents an investing outflow of 900,000 and a financing inflow of 900,000 for trucks taken on lease and recognised on the balance sheet. What is the error?","es":""},"explanation":{"fr":"","en":"Acquiring assets by means of a lease is a transaction with no direct impact on cash flows, excluded from the statement (IAS 7, para. 44).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The amounts should have been netted into a nil line.","es":""},"correct":false,"feedback":{"fr":"","en":"No line is presented.","es":""}},{"id":"B","text":{"fr":"","en":"The outflow should be operating.","es":""},"correct":false,"feedback":{"fr":"","en":"There is no outflow.","es":""}},{"id":"C","text":{"fr":"","en":"Non-cash transaction: no flow to present, only disclosure elsewhere.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"There is no error, gross presentation being the rule for investing and financing.","es":""},"correct":false,"feedback":{"fr":"","en":"The gross rule concerns actual flows.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000283","standard_id":"IAS7","concept_ids":["IAS7.NON_CASH.NON_CASH_TRANSACTIONS"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000283","tested_point":"QST.IAS7.000283","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000016","section_id":"rule"},"references":["IAS 7 §43"],"exercise":{"prompt":{"fr":"","en":"Bervane converted 3 million of bonds into shares; it correctly excludes the transaction from the statement but mentions it nowhere in its financial statements. What is the error?","es":""},"explanation":{"fr":"","en":"Non-cash transactions are excluded from the statement and disclosed elsewhere in the financial statements so as to provide all relevant information (IAS 7, para. 43).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The transaction should appear in the statement as financing, for the amount of bonds converted.","es":""},"correct":false,"feedback":{"fr":"","en":"It is excluded from the statement.","es":""}},{"id":"B","text":{"fr":"","en":"There is no error.","es":""},"correct":false,"feedback":{"fr":"","en":"The disclosure elsewhere is missing.","es":""}},{"id":"C","text":{"fr":"","en":"The conversion must be presented as investing.","es":""},"correct":false,"feedback":{"fr":"","en":"Neither investing nor statement.","es":""}},{"id":"D","text":{"fr":"","en":"A non-cash transaction is disclosed elsewhere in the financial statements.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000286","standard_id":"IAS7","concept_ids":["IAS7.NON_CASH.NON_CASH_TRANSACTIONS"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000286","tested_point":"QST.IAS7.000286","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":170,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000016","section_id":"rule"},"references":["IAS 7 §44"],"exercise":{"prompt":{"fr":"","en":"An equipment supplier agrees that Corbris pays for a 1.1 million production line by directly assuming the bank debt that financed it (case data). What effect on Corbris's statement?","es":""},"explanation":{"fr":"","en":"Acquiring assets by assuming directly related liabilities has no direct impact on cash flows and is excluded from the statement (IAS 7, para. 44); only future debt payments will be cash flows.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Investing outflow of 1.1 million on acquisition, the production line being paid for by taking over the debt.","es":""},"correct":false,"feedback":{"fr":"","en":"No cash paid.","es":""}},{"id":"B","text":{"fr":"","en":"No flow on acquisition; disclosure elsewhere; later debt repayments will be financing flows.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Financing inflow of 1.1 million, taking over the debt amounting to obtaining a new loan.","es":""},"correct":false,"feedback":{"fr":"","en":"No cash received.","es":""}},{"id":"D","text":{"fr":"","en":"Operating outflow of 1.1 million, the equipment being used directly in the production activity.","es":""},"correct":false,"feedback":{"fr":"","en":"Neither a flow nor operating.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000287","standard_id":"IAS7","concept_ids":["IAS7.NON_CASH.NON_CASH_TRANSACTIONS"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000287","tested_point":"QST.IAS7.000287","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000016","section_id":"rule"},"references":["IAS 7 §43","IAS 7 §44"],"exercise":{"prompt":{"fr":"","en":"Kervelle acquires a building for 5 million: 1 million paid in cash, 4 million through a share issue to the seller (case data). Which presentation is correct?","es":""},"explanation":{"fr":"","en":"Only the part paid in cash is an investing flow; the part settled in shares, with no cash, is excluded from the statement (IAS 7, para. 44) and disclosed elsewhere (IAS 7, para. 43).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Investing outflow of 1 million; the share part is disclosed elsewhere.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Investing outflow of 5 million and financing inflow of 4 million.","es":""},"correct":false,"feedback":{"fr":"","en":"Fictitious flows for the share part.","es":""}},{"id":"C","text":{"fr":"","en":"Outflow of 5 million.","es":""},"correct":false,"feedback":{"fr":"","en":"Only 1 million was paid.","es":""}},{"id":"D","text":{"fr":"","en":"No flow, the transaction being mixed.","es":""},"correct":false,"feedback":{"fr":"","en":"The cash part is a flow.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000288","standard_id":"IAS7","concept_ids":["IAS7.NON_CASH.NON_CASH_TRANSACTIONS"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000288","tested_point":"QST.IAS7.000288","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000016","section_id":"rule"},"references":["IAS 7 §43","IAS 7 §44"],"exercise":{"prompt":{"fr":"","en":"Isbane presents 2.4 million of asset additions in investing, of which 0.9 million are right-of-use assets, and in financing “new lease liabilities: +0.9 million”; no note describes non-cash transactions. What should be corrected?","es":""},"explanation":{"fr":"","en":"New leases are non-cash transactions excluded from the statement (IAS 7, para. 44) and disclosed elsewhere in the financial statements (IAS 7, para. 43): investing 2.4 − 0.9 = 1.5 million.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Nothing, the 0.9 million shown in investing and in financing offsetting each other in the change in cash.","es":""},"correct":false,"feedback":{"fr":"","en":"The flows presented are fictitious.","es":""}},{"id":"B","text":{"fr":"","en":"Only add a note on the new leases, leaving both amounts in the statement.","es":""},"correct":false,"feedback":{"fr":"","en":"The fictitious flows must also be removed.","es":""}},{"id":"C","text":{"fr":"","en":"Reclassify the 0.9 million as operating, the right-of-use assets being used in day-to-day activities.","es":""},"correct":false,"feedback":{"fr":"","en":"It is not a flow anywhere.","es":""}},{"id":"D","text":{"fr":"","en":"Remove the 0.9 million from both activities (investing 1.5 million) and describe the new leases in a note.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000289","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000289","tested_point":"QST.IAS7.000289","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"objective-and-changes"},"references":["IAS 7 §44A"],"exercise":{"prompt":{"fr":"","en":"What is the objective of the disclosure on liabilities arising from financing activities?","es":""},"explanation":{"fr":"","en":"The entity provides disclosures that enable users to evaluate changes in liabilities arising from financing activities, including both cash and non-cash changes (IAS 7, para. 44A).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"To present the fair value of each loan and each lease at year-end, line by line.","es":""},"correct":false,"feedback":{"fr":"","en":"This is not the objective.","es":""}},{"id":"B","text":{"fr":"","en":"To explain only changes from cash flows.","es":""},"correct":false,"feedback":{"fr":"","en":"Non-cash changes are also covered.","es":""}},{"id":"C","text":{"fr":"","en":"To enable evaluation of changes in them, arising from cash flows or not.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"To compute a debt ratio required by the standard.","es":""},"correct":false,"feedback":{"fr":"","en":"No ratio is required.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000290","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000290","tested_point":"QST.IAS7.000290","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"objective-and-changes"},"references":["IAS 7 §44C"],"exercise":{"prompt":{"fr":"","en":"Which of these items is a liability arising from financing activities?","es":""},"explanation":{"fr":"","en":"Liabilities arising from financing activities are those for which cash flows were, or future cash flows will be, classified as financing (IAS 7, para. 44C).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Ordinary trade payables, settled at 60 days within the operating cycle.","es":""},"correct":false,"feedback":{"fr":"","en":"Their flows are operating.","es":""}},{"id":"B","text":{"fr":"","en":"The current tax liability.","es":""},"correct":false,"feedback":{"fr":"","en":"Operating flows by default.","es":""}},{"id":"C","text":{"fr":"","en":"A lease liability whose principal payments are classified as financing.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Warranty provisions.","es":""},"correct":false,"feedback":{"fr":"","en":"Not financing.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000291","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000291","tested_point":"QST.IAS7.000291","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"objective-and-changes"},"references":["IAS 7 §44D"],"exercise":{"prompt":{"fr":"","en":"How may an entity meet the disclosure requirement on financing liabilities?","es":""},"explanation":{"fr":"","en":"One way to meet the requirement is a reconciliation of opening and closing balances showing the changes, with enough information to link it to the statement of financial position and the statement of cash flows (IAS 7, para. 44D).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"By publishing the contractual maturity schedule of borrowings with no further detail, broken down by repayment year.","es":""},"correct":false,"feedback":{"fr":"","en":"Does not show the changes.","es":""}},{"id":"B","text":{"fr":"","en":"By presenting only the net change in borrowings.","es":""},"correct":false,"feedback":{"fr":"","en":"Insufficient.","es":""}},{"id":"C","text":{"fr":"","en":"By referring to the management report.","es":""},"correct":false,"feedback":{"fr":"","en":"The disclosure belongs in the financial statements.","es":""}},{"id":"D","text":{"fr":"","en":"By reconciling opening and closing balances, linked to the balance sheet and the statement.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000292","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000292","tested_point":"QST.IAS7.000292","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"objective-and-changes"},"references":["IAS 7 §44E"],"exercise":{"prompt":{"fr":"","en":"Fendane presents one movement table for its financing liabilities and other assets and liabilities. What must it observe?","es":""},"explanation":{"fr":"","en":"If the disclosure is combined with changes in other assets and liabilities, changes in liabilities arising from financing activities are disclosed separately (IAS 7, para. 44E).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Present changes in financing liabilities separately from other changes.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Merge all changes into one common column to simplify reading.","es":""},"correct":false,"feedback":{"fr":"","en":"Separation required.","es":""}},{"id":"C","text":{"fr":"","en":"Forgo the financing liabilities disclosure.","es":""},"correct":false,"feedback":{"fr":"","en":"The disclosure is still required.","es":""}},{"id":"D","text":{"fr":"","en":"Present only closing balances.","es":""},"correct":false,"feedback":{"fr":"","en":"Changes are required.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000293","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000293","tested_point":"QST.IAS7.000293","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"objective-and-changes"},"references":["IAS 7 §44B"],"exercise":{"prompt":{"fr":"","en":"Which changes does the entity disclose, to the extent necessary, for its liabilities arising from financing activities?","es":""},"explanation":{"fr":"","en":"The entity discloses changes from financing cash flows, from obtaining or losing control, from exchange rates, from fair value and other changes (IAS 7, para. 44B).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The effect of changes in exchange rates.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Changes in revenue.","es":""},"correct":false,"feedback":{"fr":"","en":"Unrelated.","es":""}},{"id":"C","text":{"fr":"","en":"Changes in fair value.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Changes from financing cash flows.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Changes from obtaining or losing control of subsidiaries.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000294","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000294","tested_point":"QST.IAS7.000294","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"objective-and-changes"},"references":["IAS 7 §44C"],"exercise":{"prompt":{"fr":"","en":"Which of these items of Morbis fall within the disclosure on financing liabilities (and assets)?","es":""},"explanation":{"fr":"","en":"Covered are liabilities whose cash flows were or will be classified as financing, and financial assets whose cash flows are financing, for example assets hedging financing liabilities (IAS 7, para. 44C).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"An asset hedging a loan whose flows are classified as financing.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Trade payables for goods.","es":""},"correct":false,"feedback":{"fr":"","en":"Operating flows.","es":""}},{"id":"C","text":{"fr":"","en":"Payroll liabilities.","es":""},"correct":false,"feedback":{"fr":"","en":"Operating flows.","es":""}},{"id":"D","text":{"fr":"","en":"Bonds issued.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Lease liabilities.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000295","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000295","tested_point":"QST.IAS7.000295","difficulty":"EXPERT","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":140,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"objective-and-changes"},"references":["IAS 7 §44B","IAS 7 §44D"],"exercise":{"prompt":{"fr":"","en":"When reviewing Calmont's financing liabilities reconciliation, which of these findings call for a correction?","es":""},"explanation":{"fr":"","en":"The reconciliation shows cash and non-cash changes (IAS 7, para. 44B) and must be linkable to the statement of financial position and the statement of cash flows (IAS 7, para. 44D).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The exchange effect on a dollar loan is presented separately.","es":""},"correct":false,"feedback":{"fr":"","en":"Compliant.","es":""}},{"id":"B","text":{"fr":"","en":"Closing balances agree with the statement of financial position.","es":""},"correct":false,"feedback":{"fr":"","en":"Compliant.","es":""}},{"id":"C","text":{"fr":"","en":"New leases of the year are missing from the reconciliation.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The “cash flows” column matches no line of the statement.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000296","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000017","tested_point":"VG.IAS7.000017","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"objective-and-changes"},"references":["IAS 7 §44B","IAS 7 §44D"],"exercise":{"prompt":{"fr":"","en":"Ralvane's financing liabilities: opening balance {opening_balance}; drawdowns {proceeds}; repayments {repayments}; new leases {new_leases}; exchange effect {fx_effect} (increase). Compute the closing balance of the reconciliation.","es":""},"explanation":{"fr":"","en":"4,200,000 + 900,000 − 1,150,000 + 380,000 + 65,000 = 4,395,000: cash flow changes, then non-cash changes (leases, exchange) (IAS 7, para. 44B), in an opening-to-closing reconciliation (IAS 7, para. 44D).","es":""},"common_error":{"fr":"","en":"Forgetting new leases.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_balance","value":"4200000","unit":"EUR"},{"id":"proceeds","value":"900000","unit":"EUR"},{"id":"repayments","value":"1150000","unit":"EUR"},{"id":"new_leases","value":"380000","unit":"EUR"},{"id":"fx_effect","value":"65000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Opening balance","es":""},"value":"4200000","unit":"EUR"},{"label":{"fr":"","en":"Drawdowns","es":""},"value":"900000","unit":"EUR"},{"label":{"fr":"","en":"Repayments","es":""},"value":"1150000","unit":"EUR"},{"label":{"fr":"","en":"New leases","es":""},"value":"380000","unit":"EUR"},{"label":{"fr":"","en":"Exchange effect","es":""},"value":"65000","unit":"EUR"}],"steps":[{"id":"CLOSING_BALANCE","label":{"fr":"","en":"Closing balance","es":""},"answer":4395000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"CLOSING_BALANCE","meaning":{"fr":"","en":"Closing balance","es":""},"expression":"a + b - c + d + e","variables":[{"symbol":"a","meaning":{"fr":"","en":"Opening balance","es":""},"value":4200000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Drawdowns","es":""},"value":900000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Repayments","es":""},"value":1150000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"New leases","es":""},"value":380000,"unit":"EUR"},{"symbol":"e","meaning":{"fr":"","en":"Exchange effect","es":""},"value":65000,"unit":"EUR"}],"result":4395000,"unit":"EUR","rationale":{"fr":"","en":"4,200,000 + 900,000 − 1,150,000 + 380,000 + 65,000 = 4,395,000: cash flow changes, then non-cash changes (leases, exchange) (IAS 7, para. 44B), in an opening-to-closing reconciliation (IAS 7, para. 44D).","es":""}}],"references":["REF.IAS7.44B","REF.IAS7.44D"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000297","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"CALCULATION","context":"V1_VG.IAS7.000017","tested_point":"VG.IAS7.000017","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"objective-and-changes"},"references":["IAS 7 §44B","IAS 7 §44D"],"exercise":{"prompt":{"fr":"","en":"At the start of the year Fenmira's financial debt (borrowings and lease liabilities) amounted to {opening_balance}. It borrowed {proceeds}, repaid {repayments}, signed leases for {new_leases}, and the rise of the euro reduced its dollar debt by {fx_effect}. What closing balance does the reconciliation show?","es":""},"explanation":{"fr":"","en":"2,750,000 + 600,000 − 480,000 + 215,000 − 38,000 = 3,047,000: the exchange effect, favourable here, is a non-cash change presented separately (IAS 7, paras. 44B and 44D).","es":""},"common_error":{"fr":"","en":"Adding the exchange effect.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_balance","value":"2750000","unit":"EUR"},{"id":"proceeds","value":"600000","unit":"EUR"},{"id":"repayments","value":"480000","unit":"EUR"},{"id":"new_leases","value":"215000","unit":"EUR"},{"id":"fx_effect","value":"38000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Opening debt","es":""},"value":"2750000","unit":"EUR"},{"label":{"fr":"","en":"Borrowings received","es":""},"value":"600000","unit":"EUR"},{"label":{"fr":"","en":"Repayments","es":""},"value":"480000","unit":"EUR"},{"label":{"fr":"","en":"Leases signed","es":""},"value":"215000","unit":"EUR"},{"label":{"fr":"","en":"Decrease due to exchange rates","es":""},"value":"38000","unit":"EUR"}],"steps":[{"id":"CLOSING_BALANCE","label":{"fr":"","en":"Closing balance","es":""},"answer":3047000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"CLOSING_BALANCE","meaning":{"fr":"","en":"Closing balance","es":""},"expression":"a + b - c + d - e","variables":[{"symbol":"a","meaning":{"fr":"","en":"Opening debt","es":""},"value":2750000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Borrowings received","es":""},"value":600000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Repayments","es":""},"value":480000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Leases signed","es":""},"value":215000,"unit":"EUR"},{"symbol":"e","meaning":{"fr":"","en":"Decrease due to exchange rates","es":""},"value":38000,"unit":"EUR"}],"result":3047000,"unit":"EUR","rationale":{"fr":"","en":"2,750,000 + 600,000 − 480,000 + 215,000 − 38,000 = 3,047,000: the exchange effect, favourable here, is a non-cash change presented separately (IAS 7, paras. 44B and 44D).","es":""}}],"references":["REF.IAS7.44B","REF.IAS7.44D"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000298","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000298","tested_point":"QST.IAS7.000298","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"objective-and-changes"},"references":["IAS 7 §44B"],"exercise":{"prompt":{"fr":"","en":"Nelquine's borrowings move from {opening_balance} to {closing_balance}. Net financing cash flows (drawdowns less repayments) amount to {net_cash_flows} (outflow). Compute total non-cash changes to show.","es":""},"explanation":{"fr":"","en":"Closing = opening − net outflows + non-cash changes: 3,870,000 − 3,600,000 + 210,000 = 480,000, to be detailed by nature (scope, exchange, fair value, other) (IAS 7, para. 44B).","es":""},"common_error":{"fr":"","en":"Deducting outflows twice.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_balance","value":"3600000","unit":"EUR"},{"id":"closing_balance","value":"3870000","unit":"EUR"},{"id":"net_cash_flows","value":"210000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Opening borrowings","es":""},"value":"3600000","unit":"EUR"},{"label":{"fr":"","en":"Closing borrowings","es":""},"value":"3870000","unit":"EUR"},{"label":{"fr":"","en":"Net flows (outflow)","es":""},"value":"210000","unit":"EUR"}],"steps":[{"id":"NON_CASH_CHANGES","label":{"fr":"","en":"Non-cash changes","es":""},"answer":480000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"NON_CASH_CHANGES","meaning":{"fr":"","en":"Non-cash changes","es":""},"expression":"a - b + c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Closing borrowings","es":""},"value":3870000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening borrowings","es":""},"value":3600000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Net flows (outflow)","es":""},"value":210000,"unit":"EUR"}],"result":480000,"unit":"EUR","rationale":{"fr":"","en":"Closing = opening − net outflows + non-cash changes: 3,870,000 − 3,600,000 + 210,000 = 480,000, to be detailed by nature (scope, exchange, fair value, other) (IAS 7, para. 44B).","es":""}}],"references":["REF.IAS7.44B"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000299","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000299","tested_point":"QST.IAS7.000299","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":260,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"objective-and-changes"},"references":["IAS 7 §44B","IAS 7 §44D"],"exercise":{"prompt":{"fr":"","en":"Norvora's reconciliation: opening borrowings {borrowings_opening}, net flows {borrowings_cash_flows} (inflow), debt of an acquired subsidiary {acquired_debt}; opening lease liabilities {leases_opening}, principal paid {lease_principal_paid}, new leases {new_leases}. Compute total financing liabilities at year-end.","es":""},"explanation":{"fr":"","en":"Borrowings: 5,100,000 + 350,000 + 720,000 = 6,170,000; leases: 1,640,000 − 410,000 + 530,000 = 1,760,000; total 7,930,000. The acquired subsidiary’s debt and new leases are separate non-cash changes (IAS 7, para. 44B), the total linking to the statement of financial position (IAS 7, para. 44D).","es":""},"common_error":{"fr":"","en":"Treating acquired debt as a drawdown.","es":""},"format":"CALCULATION","placeholders":[{"id":"borrowings_opening","value":"5100000","unit":"EUR"},{"id":"borrowings_cash_flows","value":"350000","unit":"EUR"},{"id":"acquired_debt","value":"720000","unit":"EUR"},{"id":"leases_opening","value":"1640000","unit":"EUR"},{"id":"lease_principal_paid","value":"410000","unit":"EUR"},{"id":"new_leases","value":"530000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Opening borrowings","es":""},"value":"5100000","unit":"EUR"},{"label":{"fr":"","en":"Net borrowing flows","es":""},"value":"350000","unit":"EUR"},{"label":{"fr":"","en":"Debt of the subsidiary acquired","es":""},"value":"720000","unit":"EUR"},{"label":{"fr":"","en":"Opening lease liabilities","es":""},"value":"1640000","unit":"EUR"},{"label":{"fr":"","en":"Principal paid","es":""},"value":"410000","unit":"EUR"},{"label":{"fr":"","en":"New leases","es":""},"value":"530000","unit":"EUR"}],"steps":[{"id":"BORROWINGS_CLOSING","label":{"fr":"","en":"Closing borrowings","es":""},"answer":6170000,"tolerance":0,"unit":"EUR"},{"id":"TOTAL_CLOSING","label":{"fr":"","en":"Total financing liabilities at year-end","es":""},"answer":7930000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"BORROWINGS_CLOSING","meaning":{"fr":"","en":"Closing borrowings","es":""},"expression":"a + b + c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Opening borrowings","es":""},"value":5100000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Net borrowing flows","es":""},"value":350000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Debt of the subsidiary acquired","es":""},"value":720000,"unit":"EUR"}],"result":6170000,"unit":"EUR"}],"references":["REF.IAS7.44B","REF.IAS7.44D"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000300","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000300","tested_point":"QST.IAS7.000300","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"objective-and-changes"},"references":["IAS 7 §44B"],"exercise":{"prompt":{"fr":"","en":"A Ormira loan measured at fair value moves from {opening_balance} to {closing_balance}. Repayments for the year: {repayments}; exchange effect: {fx_effect} (increase); no change other than fair value (case data). Compute the fair value change to present.","es":""},"explanation":{"fr":"","en":"1,685,000 − 1,800,000 + 200,000 − 52,000 = 33,000; fair value is a separate category of non-cash change (IAS 7, para. 44B).","es":""},"common_error":{"fr":"","en":"Confusing exchange effect and fair value.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_balance","value":"1800000","unit":"EUR"},{"id":"closing_balance","value":"1685000","unit":"EUR"},{"id":"repayments","value":"200000","unit":"EUR"},{"id":"fx_effect","value":"52000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Opening balance","es":""},"value":"1800000","unit":"EUR"},{"label":{"fr":"","en":"Closing balance","es":""},"value":"1685000","unit":"EUR"},{"label":{"fr":"","en":"Repayments","es":""},"value":"200000","unit":"EUR"},{"label":{"fr":"","en":"Exchange effect","es":""},"value":"52000","unit":"EUR"}],"steps":[{"id":"FAIR_VALUE_CHANGE","label":{"fr":"","en":"Fair value change","es":""},"answer":33000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"FAIR_VALUE_CHANGE","meaning":{"fr":"","en":"Fair value change","es":""},"expression":"a - b + c - d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Closing balance","es":""},"value":1685000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Opening balance","es":""},"value":1800000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Repayments","es":""},"value":200000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Exchange effect","es":""},"value":52000,"unit":"EUR"}],"result":33000,"unit":"EUR"}],"references":["REF.IAS7.44B"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000301","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000301","tested_point":"QST.IAS7.000301","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":260,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"objective-and-changes"},"references":["IAS 7 §44C","IAS 7 §44D"],"exercise":{"prompt":{"fr":"","en":"Telbris's financing cash flows amount to {financing_total} (net outflow) and include a share issue of {share_issue} and dividends paid of {dividends_paid} (classified as financing). Compute the cash flows relating to financing liabilities to carry into the reconciliation (negative if an outflow).","es":""},"explanation":{"fr":"","en":"Equity is not a financing liability (IAS 7, para. 44C): −640,000 − 1,000,000 + 450,000 = −1,190,000; this amount must be linkable to the statement of cash flows (IAS 7, para. 44D).","es":""},"common_error":{"fr":"","en":"Carrying the whole financing flow.","es":""},"format":"CALCULATION","placeholders":[{"id":"financing_total","value":"640000","unit":"EUR"},{"id":"share_issue","value":"1000000","unit":"EUR"},{"id":"dividends_paid","value":"450000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Financing cash flows (net outflow)","es":""},"value":"640000","unit":"EUR"},{"label":{"fr":"","en":"Share issue","es":""},"value":"1000000","unit":"EUR"},{"label":{"fr":"","en":"Dividends paid","es":""},"value":"450000","unit":"EUR"}],"steps":[{"id":"LIABILITY_FLOWS","label":{"fr":"","en":"Flows relating to financing liabilities","es":""},"answer":-1190000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"LIABILITY_FLOWS","meaning":{"fr":"","en":"Flows relating to financing liabilities","es":""},"expression":"-a - b + c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Financing cash flows (net outflow)","es":""},"value":640000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Share issue","es":""},"value":1000000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Dividends paid","es":""},"value":450000,"unit":"EUR"}],"result":-1190000,"unit":"EUR"}],"references":["REF.IAS7.44C","REF.IAS7.44D"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000302","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000302","tested_point":"QST.IAS7.000302","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"objective-and-changes"},"references":["IAS 7 §44B"],"exercise":{"prompt":{"fr":"","en":"Peldis's reconciliation moves from opening to closing showing only drawdowns and repayments; the residual difference of 300,000, due to new leases, is included in repayments. What is the error?","es":""},"explanation":{"fr":"","en":"The reconciliation distinguishes changes from financing cash flows and other, non-cash changes (IAS 7, para. 44B); new leases belong to the latter.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Leases must be excluded from the reconciliation.","es":""},"correct":false,"feedback":{"fr":"","en":"Lease liabilities are part of it.","es":""}},{"id":"B","text":{"fr":"","en":"New leases are a non-cash change to present separately.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"There is no error as long as the closing balance is right.","es":""},"correct":false,"feedback":{"fr":"","en":"Changes must be correctly split.","es":""}},{"id":"D","text":{"fr":"","en":"The 300,000 must be added to drawdowns.","es":""},"correct":false,"feedback":{"fr":"","en":"They are not cash flows.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000303","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000303","tested_point":"QST.IAS7.000303","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"objective-and-changes"},"references":["IAS 7 §44C"],"exercise":{"prompt":{"fr":"","en":"Pelline includes its ordinary trade payables in its financing liabilities reconciliation, “to give a complete view of debt”. What is the error?","es":""},"explanation":{"fr":"","en":"Liabilities arising from financing activities are those whose flows were or will be classified as financing (IAS 7, para. 44C); ordinary trade payables generate operating flows.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"They must be included, but without exchange changes.","es":""},"correct":false,"feedback":{"fr":"","en":"They are not included.","es":""}},{"id":"B","text":{"fr":"","en":"There is no error, any debt may be included as long as it is presented in the statement of financial position.","es":""},"correct":false,"feedback":{"fr":"","en":"The criterion is flow classification.","es":""}},{"id":"C","text":{"fr":"","en":"They must be included as assets.","es":""},"correct":false,"feedback":{"fr":"","en":"They are operating liabilities.","es":""}},{"id":"D","text":{"fr":"","en":"Ordinary trade payables are not liabilities whose flows are financing.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000304","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000304","tested_point":"QST.IAS7.000304","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"objective-and-changes"},"references":["IAS 7 §44D"],"exercise":{"prompt":{"fr":"","en":"Zelquine's reconciliation shows financing cash flows of −820,000, whereas the statement shows repayments of 1,100,000 and drawdowns of 300,000, with no explanation of the difference. What is the error?","es":""},"explanation":{"fr":"","en":"The entity gives enough information to trace each reconciling item to the balance sheet and to the statement of cash flows (IAS 7, para. 44D): 300,000 − 1,100,000 = −800,000, not −820,000.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No error, the reconciliation being an independent note prepared from the accounting balances of the borrowings.","es":""},"correct":false,"feedback":{"fr":"","en":"The link with the statements is required.","es":""}},{"id":"B","text":{"fr":"","en":"The statement must be changed to show −820,000.","es":""},"correct":false,"feedback":{"fr":"","en":"The difference must be analysed first.","es":""}},{"id":"C","text":{"fr":"","en":"The reconciliation must link to the statement: the 20,000 gap must be corrected or explained.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The cash flow column must be removed.","es":""},"correct":false,"feedback":{"fr":"","en":"It is at the heart of the reconciliation.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000305","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000305","tested_point":"QST.IAS7.000305","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"objective-and-changes"},"references":["IAS 7 §44C"],"exercise":{"prompt":{"fr":"","en":"Rozbane holds an interest rate swap, as an asset, hedging a loan whose flows are classified as financing; the swap settlements are also classified as financing (case data). Should it be included in the financing liabilities disclosure?","es":""},"explanation":{"fr":"","en":"The disclosure requirement also applies to changes in financial assets whose cash flows were or will be included in financing cash flows, for example assets hedging financing liabilities (IAS 7, para. 44C).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No: only liabilities are included.","es":""},"correct":false,"feedback":{"fr":"","en":"The disclosure also covers some assets.","es":""}},{"id":"B","text":{"fr":"","en":"Yes: the disclosure extends to financial assets whose flows are financing.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"No: a derivative is never financing.","es":""},"correct":false,"feedback":{"fr":"","en":"Its flows are classified as financing here.","es":""}},{"id":"D","text":{"fr":"","en":"Yes, but offset against trade payables, so as to present the entity's net debt.","es":""},"correct":false,"feedback":{"fr":"","en":"No such offsetting.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000306","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000306","tested_point":"QST.IAS7.000306","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"objective-and-changes"},"references":["IAS 7 §44B"],"exercise":{"prompt":{"fr":"","en":"During the year Talmira’s debt increased by 1.5 million when an indebted subsidiary was acquired, and it repaid 400,000. How should these items be presented in the reconciliation?","es":""},"explanation":{"fr":"","en":"Changes arising from obtaining control of subsidiaries are presented separately from changes arising from financing cash flows (IAS 7, para. 44B).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"−400,000 as financing cash flows; +1.5 million as a change from obtaining control.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"+1.1 million of net financing flows, netting the acquired debt and the repayment.","es":""},"correct":false,"feedback":{"fr":"","en":"Acquired debt is not a cash flow.","es":""}},{"id":"C","text":{"fr":"","en":"+1.5 million as drawdowns.","es":""},"correct":false,"feedback":{"fr":"","en":"No drawdown occurred.","es":""}},{"id":"D","text":{"fr":"","en":"The acquired debt does not appear in the reconciliation.","es":""},"correct":false,"feedback":{"fr":"","en":"It is a required category of change.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000307","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.FINANCING_LIABILITIES"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000307","tested_point":"QST.IAS7.000307","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000017","section_id":"objective-and-changes"},"references":["IAS 7 §44A","IAS 7 §44C","IAS 7 §44D"],"exercise":{"prompt":{"fr":"","en":"Calquine publishes a “net debt” table mixing cash, borrowings, leases and an overdraft included in cash, with no other information on its financing liabilities. What assessment should be made?","es":""},"explanation":{"fr":"","en":"The objective is to evaluate changes in financing liabilities (IAS 7, para. 44A), defined by the classification of their flows (IAS 7, para. 44C); a reconciliation must be linkable to the statements (IAS 7, para. 44D), and a combined presentation must isolate these liabilities.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The table may help, if changes in financing liabilities are identifiable in it and linked to the statements.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"It is enough, net debt being a measure defined by the standard and recognised by financial analysts.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard does not define net debt.","es":""}},{"id":"C","text":{"fr":"","en":"It must be removed, any combined disclosure being prohibited.","es":""},"correct":false,"feedback":{"fr":"","en":"A combined presentation is possible.","es":""}},{"id":"D","text":{"fr":"","en":"It is enough to add trade payables.","es":""},"correct":false,"feedback":{"fr":"","en":"Trade payables are not part of it.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000310","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.SUPPLIER_FINANCE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000310","tested_point":"QST.IAS7.000310","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000018","section_id":"characteristics"},"references":["IAS 7 §44G"],"exercise":{"prompt":{"fr":"","en":"A letter of credit used solely as a guarantee for a supplier is a supplier finance arrangement.","es":""},"explanation":{"fr":"","en":"Arrangements that are solely credit enhancements, such as financial guarantees including letters of credit used as guarantees, are not supplier finance arrangements (IAS 7, para. 44G).","es":""},"common_error":{"fr":"","en":"Treating any bank guarantee as supplier finance.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000311","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.SUPPLIER_FINANCE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000311","tested_point":"QST.IAS7.000311","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000018","section_id":"characteristics"},"references":["IAS 7 §44G"],"exercise":{"prompt":{"fr":"","en":"In a supplier finance arrangement, a finance provider pays the entity's suppliers, and the entity pays the provider on the same date or at a later date.","es":""},"explanation":{"fr":"","en":"A supplier finance arrangement is characterised by one or more finance providers offering to pay amounts owed to suppliers, the entity agreeing to pay on the same date or later (IAS 7, para. 44G).","es":""},"common_error":{"fr":"","en":"Requiring deferred payment to qualify the arrangement.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000312","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.SUPPLIER_FINANCE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000312","tested_point":"QST.IAS7.000312","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000018","section_id":"characteristics"},"references":["IAS 7 §44F"],"exercise":{"prompt":{"fr":"","en":"What is the objective of the disclosure on supplier finance arrangements?","es":""},"explanation":{"fr":"","en":"The entity discloses information that enables users to assess the effects of its supplier finance arrangements on its liabilities and cash flows and on its exposure to liquidity risk (IAS 7, para. 44F).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Assess the individual solvency of each supplier benefiting from the programme.","es":""},"correct":false,"feedback":{"fr":"","en":"This is not the objective.","es":""}},{"id":"B","text":{"fr":"","en":"Assess their effects on liabilities, cash flows and exposure to liquidity risk.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Present the programme's cost for suppliers.","es":""},"correct":false,"feedback":{"fr":"","en":"Outside the objective.","es":""}},{"id":"D","text":{"fr":"","en":"Replace disclosure on trade payables.","es":""},"correct":false,"feedback":{"fr":"","en":"It is additional, not a replacement.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000313","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.SUPPLIER_FINANCE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000313","tested_point":"QST.IAS7.000313","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000018","section_id":"characteristics"},"references":["IAS 7 §44G"],"exercise":{"prompt":{"fr":"","en":"Which of these arrangements of Nelbris is a supplier finance arrangement?","es":""},"explanation":{"fr":"","en":"A finance provider pays suppliers and the entity repays it later: this is a supplier finance arrangement; credit enhancements and direct settlement instruments such as credit cards are excluded (IAS 7, para. 44G).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Nelbris pays its suppliers by corporate credit card, debited to its account at month-end.","es":""},"correct":false,"feedback":{"fr":"","en":"Direct settlement instrument: excluded.","es":""}},{"id":"B","text":{"fr":"","en":"A bank guarantee covers its purchases from a supplier.","es":""},"correct":false,"feedback":{"fr":"","en":"Credit enhancement: excluded.","es":""}},{"id":"C","text":{"fr":"","en":"A bank pays approved supplier invoices at 30 days; Nelbris repays the bank at 120 days.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Nelbris obtains 90-day credit granted directly by the supplier itself.","es":""},"correct":false,"feedback":{"fr":"","en":"No finance provider.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000314","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.SUPPLIER_FINANCE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000314","tested_point":"QST.IAS7.000314","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000018","section_id":"characteristics"},"references":["IAS 7 §44H"],"exercise":{"prompt":{"fr":"","en":"Which maturity information does the entity disclose for its supplier finance arrangements?","es":""},"explanation":{"fr":"","en":"The entity discloses, at the beginning and end of the period, the range of payment due dates for liabilities in the arrangements and for comparable trade payables outside them (IAS 7, para. 44H).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Only the average due date of liabilities in the arrangements, with no comparison with the entity's other payables.","es":""},"correct":false,"feedback":{"fr":"","en":"Comparison with payables outside is required.","es":""}},{"id":"B","text":{"fr":"","en":"The maturity schedule of all bank loans.","es":""},"correct":false,"feedback":{"fr":"","en":"Out of scope.","es":""}},{"id":"C","text":{"fr":"","en":"No maturity information.","es":""},"correct":false,"feedback":{"fr":"","en":"It is required.","es":""}},{"id":"D","text":{"fr":"","en":"The range of due dates for liabilities in the arrangements and for comparable trade payables outside them.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000315","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.SUPPLIER_FINANCE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000315","tested_point":"QST.IAS7.000315","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000018","section_id":"characteristics"},"references":["IAS 7 §44H"],"exercise":{"prompt":{"fr":"","en":"Which of these disclosures are required, at the beginning and end of the period, for supplier finance arrangements?","es":""},"explanation":{"fr":"","en":"At the beginning and end of the period, the entity discloses the carrying amount of liabilities in the arrangements and their line items, the amount for which suppliers have already been paid by providers, and the range of due dates compared with payables outside (IAS 7, para. 44H).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The finance provider's margin.","es":""},"correct":false,"feedback":{"fr":"","en":"Not required.","es":""}},{"id":"B","text":{"fr":"","en":"Carrying amount of liabilities in the arrangements and line items where presented.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Carrying amount of those for which suppliers have already been paid.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Range of due dates, including comparable payables outside.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Revenue of each supplier.","es":""},"correct":false,"feedback":{"fr":"","en":"Not required.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000316","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.SUPPLIER_FINANCE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000316","tested_point":"QST.IAS7.000316","difficulty":"EXPERT","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":140,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000018","section_id":"characteristics"},"references":["IAS 7 §44F","IAS 7 §44G","IAS 7 §44H"],"exercise":{"prompt":{"fr":"","en":"When reviewing Peltvane's note on its reverse factoring programme, which of these findings call for a correction?","es":""},"explanation":{"fr":"","en":"The disclosure targets effects on liabilities, cash flows and liquidity risk (IAS 7, para. 44F); credit cards are excluded (IAS 7, para. 44G); the range of due dates must be compared with payables outside the arrangement (IAS 7, para. 44H).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The carrying amount of liabilities at the start and end is disclosed.","es":""},"correct":false,"feedback":{"fr":"","en":"Compliant.","es":""}},{"id":"B","text":{"fr":"","en":"The note omits the range of due dates of comparable trade payables outside the programme.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Purchases paid by credit card are included in the programme.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The terms of the programme (extended terms, security) are described.","es":""},"correct":false,"feedback":{"fr":"","en":"Compliant.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000317","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.SUPPLIER_FINANCE"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000317","tested_point":"QST.IAS7.000317","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000018","section_id":"characteristics"},"references":["IAS 7 §44H"],"exercise":{"prompt":{"fr":"","en":"Lirdis's liabilities under its supplier finance arrangement amount to {arrangement_liabilities} at year-end; for {suppliers_unpaid} of that amount, suppliers have not yet been paid by the provider (case data). Compute the carrying amount of liabilities for which suppliers have already been paid.","es":""},"explanation":{"fr":"","en":"3,400,000 − 1,150,000 = 2,250,000: amount to disclose, with the total carrying amount (3,400,000), at the end and at the beginning of the period (IAS 7, para. 44H).","es":""},"common_error":{"fr":"","en":"Disclosing the unpaid part instead.","es":""},"format":"CALCULATION","placeholders":[{"id":"arrangement_liabilities","value":"3400000","unit":"EUR"},{"id":"suppliers_unpaid","value":"1150000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Liabilities under the arrangement","es":""},"value":"3400000","unit":"EUR"},{"label":{"fr":"","en":"Part not yet paid to suppliers","es":""},"value":"1150000","unit":"EUR"}],"steps":[{"id":"ALREADY_PAID","label":{"fr":"","en":"Liabilities already paid to suppliers","es":""},"answer":2250000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"ALREADY_PAID","meaning":{"fr":"","en":"Liabilities already paid to suppliers","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Liabilities under the arrangement","es":""},"value":3400000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Part not yet paid to suppliers","es":""},"value":1150000,"unit":"EUR"}],"result":2250000,"unit":"EUR","rationale":{"fr":"","en":"3,400,000 − 1,150,000 = 2,250,000: amount to disclose, with the total carrying amount (3,400,000), at the end and at the beginning of the period (IAS 7, para. 44H).","es":""}}],"references":["REF.IAS7.44H"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000318","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.SUPPLIER_FINANCE"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000318","tested_point":"QST.IAS7.000318","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":260,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000018","section_id":"characteristics"},"references":["IAS 7 §44H"],"exercise":{"prompt":{"fr":"","en":"Selvis's liabilities under its arrangement: opening {opening_liabilities}; invoices added to the programme {invoices_added}; payments to the provider {payments_to_provider}; liabilities taken over from an acquired subsidiary {acquired_liabilities}; exchange differences {fx_increase} (increase). Compute the closing carrying amount and total non-cash changes to describe.","es":""},"explanation":{"fr":"","en":"Closing: 2,100,000 + 7,800,000 − 7,350,000 + 260,000 + 40,000 = 2,850,000; the type and effect of non-cash changes (business combination 260,000, exchange 40,000, total 300,000) are disclosed (IAS 7, para. 44H).","es":""},"common_error":{"fr":"","en":"Omitting the subsidiary's liabilities taken over.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_liabilities","value":"2100000","unit":"EUR"},{"id":"invoices_added","value":"7800000","unit":"EUR"},{"id":"payments_to_provider","value":"7350000","unit":"EUR"},{"id":"acquired_liabilities","value":"260000","unit":"EUR"},{"id":"fx_increase","value":"40000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Opening liabilities","es":""},"value":"2100000","unit":"EUR"},{"label":{"fr":"","en":"Invoices added","es":""},"value":"7800000","unit":"EUR"},{"label":{"fr":"","en":"Payments to the provider","es":""},"value":"7350000","unit":"EUR"},{"label":{"fr":"","en":"Liabilities taken over from a subsidiary","es":""},"value":"260000","unit":"EUR"},{"label":{"fr":"","en":"Exchange differences","es":""},"value":"40000","unit":"EUR"}],"steps":[{"id":"CLOSING_LIABILITIES","label":{"fr":"","en":"Closing carrying amount","es":""},"answer":2850000,"tolerance":0,"unit":"EUR"},{"id":"NON_CASH_CHANGES","label":{"fr":"","en":"Non-cash changes (business combination, exchange)","es":""},"answer":300000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"CLOSING_LIABILITIES","meaning":{"fr":"","en":"Closing carrying amount","es":""},"expression":"a + b - c + d + e","variables":[{"symbol":"a","meaning":{"fr":"","en":"Opening liabilities","es":""},"value":2100000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Invoices added","es":""},"value":7800000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Payments to the provider","es":""},"value":7350000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Liabilities taken over from a subsidiary","es":""},"value":260000,"unit":"EUR"},{"symbol":"e","meaning":{"fr":"","en":"Exchange differences","es":""},"value":40000,"unit":"EUR"}],"result":2850000,"unit":"EUR"}],"references":["REF.IAS7.44H"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000319","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.SUPPLIER_FINANCE"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000319","tested_point":"QST.IAS7.000319","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000018","section_id":"characteristics"},"references":["IAS 7 §44G"],"exercise":{"prompt":{"fr":"","en":"Tormane presents the payment of its suppliers by corporate credit cards as a “supplier finance arrangement”. What is the error?","es":""},"explanation":{"fr":"","en":"Instruments used by the entity to settle directly with a supplier, for example credit cards, are not supplier finance arrangements (IAS 7, para. 44G).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"There is no error, the bank paying the supplier.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard expressly excludes such instruments.","es":""}},{"id":"B","text":{"fr":"","en":"Instruments settling directly with the supplier, such as credit cards, are excluded.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Only cards with more than 60 days’ deferral are excluded, the others being a finance arrangement.","es":""},"correct":false,"feedback":{"fr":"","en":"No such threshold.","es":""}},{"id":"D","text":{"fr":"","en":"Credit cards are financial guarantees.","es":""},"correct":false,"feedback":{"fr":"","en":"They are settlement instruments.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000320","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.SUPPLIER_FINANCE"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000320","tested_point":"QST.IAS7.000320","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000018","section_id":"characteristics"},"references":["IAS 7 §44H"],"exercise":{"prompt":{"fr":"","en":"Calvis's note on its supplier finance programme discloses: programme terms, carrying amount of liabilities and amount already paid to suppliers; it states that these liabilities are payable in 90 to 120 days. What is the error?","es":""},"explanation":{"fr":"","en":"The entity discloses the range of due dates for liabilities in the arrangements and for comparable trade payables outside them (IAS 7, para. 44H).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The range of due dates of comparable trade payables outside the programme is missing.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The note should not mention the programme terms.","es":""},"correct":false,"feedback":{"fr":"","en":"They are required.","es":""}},{"id":"C","text":{"fr":"","en":"There is no error.","es":""},"correct":false,"feedback":{"fr":"","en":"A required disclosure is missing.","es":""}},{"id":"D","text":{"fr":"","en":"The amount already paid to suppliers must not be disclosed, that information belonging to the partner bank.","es":""},"correct":false,"feedback":{"fr":"","en":"It is required.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000321","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.SUPPLIER_FINANCE"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000321","tested_point":"QST.IAS7.000321","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000018","section_id":"characteristics"},"references":["IAS 7 §44G"],"exercise":{"prompt":{"fr":"","en":"A bank offers Morbis's suppliers payment at 10 days, with a discount at their expense; Morbis continues to pay the bank at the original 60-day due date (case data). Is this a supplier finance arrangement?","es":""},"explanation":{"fr":"","en":"A supplier finance arrangement provides the entity with extended payment terms or its suppliers with early payment; the entity pays the provider on the same date as suppliers are paid or later (IAS 7, para. 44G).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No: Morbis pays the bank on the original due date and therefore obtains no extra payment period.","es":""},"correct":false,"feedback":{"fr":"","en":"Extended terms are not essential.","es":""}},{"id":"B","text":{"fr":"","en":"No: the bank's commitment to the suppliers is analysed as a financial guarantee given to Morbis.","es":""},"correct":false,"feedback":{"fr":"","en":"The bank actually pays the suppliers.","es":""}},{"id":"C","text":{"fr":"","en":"Yes, but only if the discount is borne by Morbis rather than by its suppliers.","es":""},"correct":false,"feedback":{"fr":"","en":"No such condition.","es":""}},{"id":"D","text":{"fr":"","en":"Yes: the provider pays suppliers and the entity pays it on the same date or later; early payment for suppliers is enough.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000322","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.SUPPLIER_FINANCE"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000322","tested_point":"QST.IAS7.000322","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":230,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000018","section_id":"characteristics"},"references":["IAS 7 §44H"],"exercise":{"prompt":{"fr":"","en":"Delvane has two programmes: one with terms extended to 180 days and security over inventories, the other with neither extension nor security (case data). How should terms and conditions be disclosed?","es":""},"explanation":{"fr":"","en":"The entity discloses in aggregate the terms and conditions of its arrangements (extended terms, security or guarantees), those of dissimilar arrangements being disclosed separately (IAS 7, para. 44H).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"In aggregate, in a single description common to both programmes, to make the note easier to read.","es":""},"correct":false,"feedback":{"fr":"","en":"Dissimilar terms are disclosed separately.","es":""}},{"id":"B","text":{"fr":"","en":"Only for the programme with security.","es":""},"correct":false,"feedback":{"fr":"","en":"Both are concerned.","es":""}},{"id":"C","text":{"fr":"","en":"Separately for each programme, their terms being dissimilar; the rest in aggregate.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"No description, only amounts count.","es":""},"correct":false,"feedback":{"fr":"","en":"Terms are required.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000324","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.CASH_COMPONENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000324","tested_point":"QST.IAS7.000324","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"components"},"references":["IAS 7 §45"],"exercise":{"prompt":{"fr":"","en":"The entity discloses the components of cash and cash equivalents and reconciles the amounts in the statement of cash flows with the items in the statement of financial position.","es":""},"explanation":{"fr":"","en":"The entity discloses the components of cash and cash equivalents and presents a reconciliation of the amounts in the statement of cash flows with the equivalent items in the statement of financial position (IAS 7, para. 45).","es":""},"common_error":{"fr":"","en":"Assuming the amounts always agree.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000325","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.CASH_COMPONENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000325","tested_point":"QST.IAS7.000325","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"components"},"references":["IAS 7 §47"],"exercise":{"prompt":{"fr":"","en":"The effect of changing the policy used to determine what makes up cash and cash equivalents is reported under IAS 8.","es":""},"explanation":{"fr":"","en":"The effect of a change in the policy for determining components of cash and cash equivalents, for example reclassifying instruments previously part of the investment portfolio, is reported under IAS 8 (IAS 7, para. 47).","es":""},"common_error":{"fr":"","en":"Applying the change without restating or disclosing.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000326","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.CASH_COMPONENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000326","tested_point":"QST.IAS7.000326","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"components"},"references":["IAS 7 §46"],"exercise":{"prompt":{"fr":"","en":"As the composition of cash and cash equivalents is fixed by the standard with no room for judgement, the entity need not disclose its policy for determining it.","es":""},"explanation":{"fr":"","en":"Because cash management practices and banking arrangements vary widely, the entity discloses the policy it uses to decide what makes up cash and cash equivalents (IAS 7, para. 46). Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Omitting the policy for determination.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000327","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.CASH_COMPONENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000327","tested_point":"QST.IAS7.000327","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"components"},"references":["IAS 7 §45"],"exercise":{"prompt":{"fr":"","en":"Why may a reconciliation between cash in the statement of cash flows and the statement of financial position be needed?","es":""},"explanation":{"fr":"","en":"The entity presents a reconciliation of the amounts in the statement of cash flows with the equivalent items in the statement of financial position (IAS 7, para. 45); it notably explains overdrafts included in cash and investments presented elsewhere.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Because the statement is prepared at market value, whereas the statement of financial position uses historical cost.","es":""},"correct":false,"feedback":{"fr":"","en":"That is not so.","es":""}},{"id":"B","text":{"fr":"","en":"Because the statement excludes cash on hand, which remains presented among the current assets of the statement of financial position.","es":""},"correct":false,"feedback":{"fr":"","en":"Cash on hand is part of cash.","es":""}},{"id":"C","text":{"fr":"","en":"Because cash in the statement may include items presented in other lines, such as an overdraft or a short-term investment.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Because the reconciliation may replace the statement when the entity has few cash flows.","es":""},"correct":false,"feedback":{"fr":"","en":"It complements it.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000328","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.CASH_COMPONENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000328","tested_point":"QST.IAS7.000328","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"components"},"references":["IAS 7 §47"],"exercise":{"prompt":{"fr":"","en":"Halbane decides no longer to classify as cash equivalents some money market funds previously included. How should this change be treated?","es":""},"explanation":{"fr":"","en":"The effect of changing the policy used to determine what makes up cash and cash equivalents is reported under IAS 8 (IAS 7, para. 47).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As an investing flow of the year equal to the amount reclassified.","es":""},"correct":false,"feedback":{"fr":"","en":"A reclassification is not a cash flow.","es":""}},{"id":"B","text":{"fr":"","en":"With no disclosure, the change being minor.","es":""},"correct":false,"feedback":{"fr":"","en":"No data allows this.","es":""}},{"id":"C","text":{"fr":"","en":"As a mandatory error correction.","es":""},"correct":false,"feedback":{"fr":"","en":"It is a change in policy.","es":""}},{"id":"D","text":{"fr":"","en":"As a change in policy reported under IAS 8.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000329","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.CASH_COMPONENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000329","tested_point":"QST.IAS7.000329","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"components"},"references":["IAS 7 §46"],"exercise":{"prompt":{"fr":"","en":"What information must Ostmira give on how it determines its cash and cash equivalents?","es":""},"explanation":{"fr":"","en":"The entity discloses the policy it adopts in determining the composition of cash and cash equivalents (IAS 7, para. 46). Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The policy adopted, for example the maturity criterion and the treatment of overdrafts.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The list of its bank accounts by name, the branches holding them and their balances.","es":""},"correct":false,"feedback":{"fr":"","en":"Not required.","es":""}},{"id":"C","text":{"fr":"","en":"The interest rate on each investment.","es":""},"correct":false,"feedback":{"fr":"","en":"Not required by this standard.","es":""}},{"id":"D","text":{"fr":"","en":"No information, the definition being sufficient.","es":""},"correct":false,"feedback":{"fr":"","en":"The policy is disclosed.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000330","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.CASH_COMPONENTS"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000330","tested_point":"QST.IAS7.000330","difficulty":"BEGINNER","source":"V1","format":"NUMERICAL","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"components"},"references":["IAS 7 §45"],"exercise":{"prompt":{"fr":"","en":"Corlis's statement of financial position: “cash” {cash_line}; 2-month deposits (equivalents) presented in “other financial assets” {deposits_in_other_assets}; overdraft integral to cash management presented in “borrowings” {overdraft_in_borrowings}. Compute cash in the statement of cash flows.","es":""},"explanation":{"fr":"","en":"610,000 + 250,000 − 45,000 = 815,000; the reconciliation with the items of the statement of financial position is presented (IAS 7, para. 45).","es":""},"common_error":{"fr":"","en":"Using only the “cash” line.","es":""},"format":"CALCULATION","placeholders":[{"id":"cash_line","value":"610000","unit":"EUR"},{"id":"deposits_in_other_assets","value":"250000","unit":"EUR"},{"id":"overdraft_in_borrowings","value":"45000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"“Cash” line","es":""},"value":"610000","unit":"EUR"},{"label":{"fr":"","en":"2-month deposits (other assets)","es":""},"value":"250000","unit":"EUR"},{"label":{"fr":"","en":"Overdraft (borrowings)","es":""},"value":"45000","unit":"EUR"}],"steps":[{"id":"CASH_IN_STATEMENT","label":{"fr":"","en":"Cash in the statement","es":""},"answer":815000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"CASH_IN_STATEMENT","meaning":{"fr":"","en":"Cash in the statement","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"“Cash” line","es":""},"value":610000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"2-month deposits (other assets)","es":""},"value":250000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Overdraft (borrowings)","es":""},"value":45000,"unit":"EUR"}],"result":815000,"unit":"EUR"}],"references":["REF.IAS7.45"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000331","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.CASH_COMPONENTS"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000331","tested_point":"QST.IAS7.000331","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"components"},"references":["IAS 7 §45"],"exercise":{"prompt":{"fr":"","en":"Velbris's statement shows closing cash of {cash_in_statement}. It includes an integral overdraft of {overdraft} presented in borrowings and 1-month commercial paper of {commercial_paper} presented in investments. What amount appears in the “cash” line of the statement of financial position?","es":""},"explanation":{"fr":"","en":"Reverse reconciliation (IAS 7, para. 45): 780,000 + 95,000 − 300,000 = 575,000.","es":""},"common_error":{"fr":"","en":"Reversing the signs of the reconciliation.","es":""},"format":"CALCULATION","placeholders":[{"id":"cash_in_statement","value":"780000","unit":"EUR"},{"id":"overdraft","value":"95000","unit":"EUR"},{"id":"commercial_paper","value":"300000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Cash in the statement","es":""},"value":"780000","unit":"EUR"},{"label":{"fr":"","en":"Integral overdraft","es":""},"value":"95000","unit":"EUR"},{"label":{"fr":"","en":"1-month commercial paper","es":""},"value":"300000","unit":"EUR"}],"steps":[{"id":"CASH_LINE","label":{"fr":"","en":"“Cash” line","es":""},"answer":575000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"CASH_LINE","meaning":{"fr":"","en":"“Cash” line","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cash in the statement","es":""},"value":780000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Integral overdraft","es":""},"value":95000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"1-month commercial paper","es":""},"value":300000,"unit":"EUR"}],"result":575000,"unit":"EUR"}],"rationale":{"fr":"","en":"Reverse reconciliation (IAS 7, para. 45): 780,000 + 95,000 − 300,000 = 575,000.","es":""},"references":["REF.IAS7.45"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000332","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.CASH_COMPONENTS"],"dimension":"CALCULATION","context":"V1_QST.IAS7.000332","tested_point":"QST.IAS7.000332","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":190,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"components"},"references":["IAS 7 §45","IAS 7 §46"],"exercise":{"prompt":{"fr":"","en":"Calmira's policy (case data) is to include in cash deposits with an original maturity of 3 months or less and its on-demand overdrafts. At 31 December: cash and accounts {cash_and_accounts}; 1-month deposits {one_month_deposits}; 6-month deposits {six_month_deposits}; on-demand overdrafts {overdrafts}. Compute cash in the statement.","es":""},"explanation":{"fr":"","en":"Under the disclosed policy (IAS 7, para. 46): 415,000 + 180,000 − 62,000 = 533,000; the 6-month deposits stay outside cash and appear in the reconciliation with the statement of financial position (IAS 7, para. 45). Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Including the 6-month deposits.","es":""},"format":"CALCULATION","placeholders":[{"id":"cash_and_accounts","value":"415000","unit":"EUR"},{"id":"one_month_deposits","value":"180000","unit":"EUR"},{"id":"six_month_deposits","value":"220000","unit":"EUR"},{"id":"overdrafts","value":"62000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Cash and accounts","es":""},"value":"415000","unit":"EUR"},{"label":{"fr":"","en":"1-month deposits","es":""},"value":"180000","unit":"EUR"},{"label":{"fr":"","en":"6-month deposits","es":""},"value":"220000","unit":"EUR"},{"label":{"fr":"","en":"On-demand overdrafts","es":""},"value":"62000","unit":"EUR"}],"steps":[{"id":"CASH_IN_STATEMENT","label":{"fr":"","en":"Cash in the statement","es":""},"answer":533000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"CASH_IN_STATEMENT","meaning":{"fr":"","en":"Cash in the statement","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cash and accounts","es":""},"value":415000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"1-month deposits","es":""},"value":180000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"On-demand overdrafts","es":""},"value":62000,"unit":"EUR"}],"result":533000,"unit":"EUR"}],"references":["REF.IAS7.45","REF.IAS7.46"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000333","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.CASH_COMPONENTS"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000333","tested_point":"QST.IAS7.000333","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"components"},"references":["IAS 7 §45"],"exercise":{"prompt":{"fr":"","en":"Closing cash in Nelmira's statement (720,000) differs from the “cash” line of its statement of financial position (800,000) because of an overdraft included in cash; no explanation is given. What is the error?","es":""},"explanation":{"fr":"","en":"The entity presents a reconciliation of the amounts in the statement with the equivalent items in the statement of financial position (IAS 7, para. 45): here 800,000 − 80,000 of overdraft = 720,000.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The overdraft could not be included in cash, as it is presented among borrowings.","es":""},"correct":false,"feedback":{"fr":"","en":"It can if integral to cash management.","es":""}},{"id":"B","text":{"fr":"","en":"The reconciliation with the statement of financial position is missing.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The statement must show 800,000.","es":""},"correct":false,"feedback":{"fr":"","en":"The integral overdraft is deducted.","es":""}},{"id":"D","text":{"fr":"","en":"There is no error.","es":""},"correct":false,"feedback":{"fr":"","en":"The explanation is required.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000334","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.CASH_COMPONENTS"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000334","tested_point":"QST.IAS7.000334","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"components"},"references":["IAS 7 §47"],"exercise":{"prompt":{"fr":"","en":"Brelvis now excludes from cash some funds previously included and presents the difference (400,000) as an investing outflow of the year, without restating comparatives. What is the error?","es":""},"explanation":{"fr":"","en":"The effect of a change in the policy for determining components of cash is reported under IAS 8 (IAS 7, para. 47); a reclassification is not a cash flow of the period.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The 400,000 outflow should be classified as operating activities.","es":""},"correct":false,"feedback":{"fr":"","en":"It is not a cash flow.","es":""}},{"id":"B","text":{"fr":"","en":"There is no error.","es":""},"correct":false,"feedback":{"fr":"","en":"The change is wrongly treated as a flow.","es":""}},{"id":"C","text":{"fr":"","en":"The difference should be taken to profit or loss.","es":""},"correct":false,"feedback":{"fr":"","en":"No income or expense.","es":""}},{"id":"D","text":{"fr":"","en":"It is a change in policy to report under IAS 8, not a cash flow.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000335","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.CASH_COMPONENTS"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000335","tested_point":"QST.IAS7.000335","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"components"},"references":["IAS 7 §46"],"exercise":{"prompt":{"fr":"","en":"Selmira includes certain overdrafts and deposits of up to 3 months in cash, but its notes do not describe the policy adopted. What is the error?","es":""},"explanation":{"fr":"","en":"Given the diversity of practices, the entity discloses the policy adopted in determining the composition of cash and cash equivalents (IAS 7, para. 46). Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Overdrafts can never be included.","es":""},"correct":false,"feedback":{"fr":"","en":"They may be under conditions.","es":""}},{"id":"B","text":{"fr":"","en":"3-month deposits are automatically excluded, whatever the purpose for which they are held.","es":""},"correct":false,"feedback":{"fr":"","en":"They may be equivalents.","es":""}},{"id":"C","text":{"fr":"","en":"The policy for determining the composition of cash must be disclosed.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"There is no error.","es":""},"correct":false,"feedback":{"fr":"","en":"The disclosure is missing.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000336","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.RESTRICTED_CASH_AND_OTHER"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000336","tested_point":"QST.IAS7.000336","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"restricted"},"references":["IAS 7 §48"],"exercise":{"prompt":{"fr":"","en":"The entity discloses, with a management commentary, the amount of significant cash balances it holds that the group cannot use.","es":""},"explanation":{"fr":"","en":"The entity discloses, with a management commentary, the amount of significant cash and cash equivalent balances it holds that the group cannot use (IAS 7, para. 48).","es":""},"common_error":{"fr":"","en":"Not disclosing significant restricted cash.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000337","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.RESTRICTED_CASH_AND_OTHER"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000337","tested_point":"QST.IAS7.000337","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"restricted"},"references":["IAS 7 §50"],"exercise":{"prompt":{"fr":"","en":"Disclosure of the amount of undrawn borrowing facilities is mandatory.","es":""},"explanation":{"fr":"","en":"Additional information is encouraged, not required, including the amount of undrawn borrowing facilities available for future activities (IAS 7, para. 50).","es":""},"common_error":{"fr":"","en":"Presenting an encouraged disclosure as mandatory.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000338","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.RESTRICTED_CASH_AND_OTHER"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000338","tested_point":"QST.IAS7.000338","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"restricted"},"references":["IAS 7 §49"],"exercise":{"prompt":{"fr":"","en":"Which of these cases illustrates cash not available for use by the group?","es":""},"explanation":{"fr":"","en":"Balances may be unavailable, for example those of a subsidiary operating in a country with exchange controls or other legal restrictions preventing their general use by the group (IAS 7, para. 49).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A 2-month deposit the parent can withdraw at any time with a small exit penalty.","es":""},"correct":false,"feedback":{"fr":"","en":"It remains available.","es":""}},{"id":"B","text":{"fr":"","en":"Cash of a subsidiary in a country with exchange controls preventing transfers.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The till of a group store.","es":""},"correct":false,"feedback":{"fr":"","en":"Available.","es":""}},{"id":"D","text":{"fr":"","en":"The parent's demand account.","es":""},"correct":false,"feedback":{"fr":"","en":"Available.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000339","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.RESTRICTED_CASH_AND_OTHER"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000339","tested_point":"QST.IAS7.000339","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"restricted"},"references":["IAS 7 §51"],"exercise":{"prompt":{"fr":"","en":"Why does the standard encourage separate disclosure of cash flows that increase operating capacity and those that maintain it?","es":""},"explanation":{"fr":"","en":"This distinction helps users judge whether the entity is investing adequately in maintaining its operating capacity; otherwise it may be impairing future profitability for current liquidity and distributions (IAS 7, para. 51).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"To judge whether the entity invests adequately in maintaining its capacity.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"To compute the year's depreciation from the investments made.","es":""},"correct":false,"feedback":{"fr":"","en":"Unrelated.","es":""}},{"id":"C","text":{"fr":"","en":"To avoid presenting investing flows gross.","es":""},"correct":false,"feedback":{"fr":"","en":"This is not the objective.","es":""}},{"id":"D","text":{"fr":"","en":"To meet a tax requirement.","es":""},"correct":false,"feedback":{"fr":"","en":"No tax purpose.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000340","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.RESTRICTED_CASH_AND_OTHER"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000340","tested_point":"QST.IAS7.000340","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"restricted"},"references":["IAS 7 §50"],"exercise":{"prompt":{"fr":"","en":"Which of these disclosures is encouraged, rather than required, by the standard?","es":""},"explanation":{"fr":"","en":"Encouraged, not required, are the amount of undrawn borrowing facilities, the split between flows increasing and maintaining capacity, and the flows of each reportable segment (IAS 7, para. 50).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The operating, investing and financing flows of each reportable segment.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The amount of significant cash balances not available to the group, with commentary.","es":""},"correct":false,"feedback":{"fr":"","en":"Required disclosure.","es":""}},{"id":"C","text":{"fr":"","en":"The components of cash.","es":""},"correct":false,"feedback":{"fr":"","en":"Required disclosure.","es":""}},{"id":"D","text":{"fr":"","en":"The financing liabilities reconciliation.","es":""},"correct":false,"feedback":{"fr":"","en":"Required in one form or another.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000341","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.RESTRICTED_CASH_AND_OTHER"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000341","tested_point":"QST.IAS7.000341","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"restricted"},"references":["IAS 7 §48","IAS 7 §50"],"exercise":{"prompt":{"fr":"","en":"Among these disclosures, which are required (not merely encouraged)?","es":""},"explanation":{"fr":"","en":"Significant unavailable balances are disclosed with management commentary (IAS 7, para. 48); undrawn facilities, the increase/maintenance split and segment flows are encouraged (IAS 7, para. 50).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Flows maintaining operating capacity.","es":""},"correct":false,"feedback":{"fr":"","en":"Encouraged.","es":""}},{"id":"B","text":{"fr":"","en":"Flows by segment.","es":""},"correct":false,"feedback":{"fr":"","en":"Encouraged.","es":""}},{"id":"C","text":{"fr":"","en":"Significant cash balances not available to the group.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Management commentary on those balances.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Undrawn borrowing facilities.","es":""},"correct":false,"feedback":{"fr":"","en":"Encouraged.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000342","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.RESTRICTED_CASH_AND_OTHER"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000342","tested_point":"QST.IAS7.000342","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"restricted"},"references":["IAS 7 §48","IAS 7 §49"],"exercise":{"prompt":{"fr":"","en":"The Kerlis group holds cash in several countries. Which of these balances call for the restricted cash disclosure, if significant?","es":""},"explanation":{"fr":"","en":"Significant balances not available to the group are covered (IAS 7, para. 48), for example because of exchange controls or other legal restrictions (IAS 7, para. 49).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Cash of a European subsidiary freely transferable.","es":""},"correct":false,"feedback":{"fr":"","en":"Available.","es":""}},{"id":"B","text":{"fr":"","en":"The parent's 1-month deposit.","es":""},"correct":false,"feedback":{"fr":"","en":"Available.","es":""}},{"id":"C","text":{"fr":"","en":"Cash of a subsidiary in a country prohibiting currency outflows.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Cash blocked by a legal restriction on the subsidiary's distributions.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000343","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.RESTRICTED_CASH_AND_OTHER"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000343","tested_point":"QST.IAS7.000343","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"restricted"},"references":["IAS 7 §48"],"exercise":{"prompt":{"fr":"","en":"The Morlis group holds 12 million of cash, of which 5 million in a subsidiary subject to strict exchange controls; its notes do not mention it. What is the error?","es":""},"explanation":{"fr":"","en":"The entity discloses, with management commentary, the amount of significant cash balances not available for use by the group (IAS 7, para. 48).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The 5 million must be excluded from cash in the statement.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard requires disclosure.","es":""}},{"id":"B","text":{"fr":"","en":"The significant amount unavailable to the group is disclosed with management commentary.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"There is no error, disclosure of blocked cash being merely encouraged by the standard.","es":""},"correct":false,"feedback":{"fr":"","en":"It is required.","es":""}},{"id":"D","text":{"fr":"","en":"The 5 million must be presented as investing.","es":""},"correct":false,"feedback":{"fr":"","en":"Unrelated.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000344","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.RESTRICTED_CASH_AND_OTHER"],"dimension":"ANALYSIS","context":"V1_QST.IAS7.000344","tested_point":"QST.IAS7.000344","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"restricted"},"references":["IAS 7 §50"],"exercise":{"prompt":{"fr":"","en":"An auditor reports as non-compliance the lack of disclosure of Talvis's undrawn borrowing facilities. What is the auditor's error?","es":""},"explanation":{"fr":"","en":"The amount of undrawn borrowing facilities is among the disclosures that are encouraged, not required (IAS 7, para. 50).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The information should appear in the statement itself.","es":""},"correct":false,"feedback":{"fr":"","en":"It is not required.","es":""}},{"id":"B","text":{"fr":"","en":"There is no error by the auditor.","es":""},"correct":false,"feedback":{"fr":"","en":"The disclosure is not mandatory.","es":""}},{"id":"C","text":{"fr":"","en":"This disclosure is encouraged, not required, by the standard.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Only facilities over one year must be disclosed.","es":""},"correct":false,"feedback":{"fr":"","en":"No such rule.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000345","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.RESTRICTED_CASH_AND_OTHER"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000345","tested_point":"QST.IAS7.000345","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"restricted"},"references":["IAS 7 §48","IAS 7 §49"],"exercise":{"prompt":{"fr":"","en":"Peldane's subsidiary, in a country where currency transfers require prior authorisation rarely granted, holds 2 million out of group cash of 9 million (case data). What disclosure should be given?","es":""},"explanation":{"fr":"","en":"Significant balances not available to the group are disclosed with management commentary (IAS 7, para. 48); exchange controls are an example (IAS 7, para. 49). Significance is a matter of judgement.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Remove the 2 million from cash and cash equivalents in the consolidated statement, since the group cannot use it.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard asks for disclosure.","es":""}},{"id":"B","text":{"fr":"","en":"No disclosure, the subsidiary being consolidated.","es":""},"correct":false,"feedback":{"fr":"","en":"The restriction must be disclosed.","es":""}},{"id":"C","text":{"fr":"","en":"Disclose undrawn facilities.","es":""},"correct":false,"feedback":{"fr":"","en":"Unrelated to the restriction.","es":""}},{"id":"D","text":{"fr":"","en":"Disclose the 2 million not available, with management commentary (significance: judgement).","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000346","standard_id":"IAS7","concept_ids":["IAS7.DISCLOSURE.RESTRICTED_CASH_AND_OTHER"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000346","tested_point":"QST.IAS7.000346","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000019","section_id":"restricted"},"references":["IAS 7 §50","IAS 7 §51"],"exercise":{"prompt":{"fr":"","en":"Brelmira's management, which cut maintenance capital spending to pay an exceptional dividend, is hesitant to publish the split between capacity-maintaining and capacity-increasing investment. What advice should be given?","es":""},"explanation":{"fr":"","en":"The split between flows increasing and maintaining capacity is encouraged (IAS 7, para. 50); it shows whether the entity sacrifices future profitability for current liquidity and distributions (IAS 7, para. 51).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The disclosure is mandatory: omitting it is non-compliance that the auditor must report.","es":""},"correct":false,"feedback":{"fr":"","en":"It is encouraged.","es":""}},{"id":"B","text":{"fr":"","en":"The disclosure is encouraged and useful here to judge whether the entity maintains its capacity.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The disclosure is prohibited as commercially sensitive.","es":""},"correct":false,"feedback":{"fr":"","en":"No prohibition.","es":""}},{"id":"D","text":{"fr":"","en":"Disclosing undrawn facilities is enough.","es":""},"correct":false,"feedback":{"fr":"","en":"Does not address the issue.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000347","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS7.000347","tested_point":"QST.IAS7.000347","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §33A","IAS 7 §64"],"exercise":{"prompt":{"fr":"","en":"Under the version of IAS 7 applicable with IFRS 18 (periods beginning on or after 1 January 2027), where does an entity classify the dividends it pays to its shareholders?","es":""},"explanation":{"fr":"","en":"The version amended by IFRS 18 removes the options and classifies dividends paid as financing (IAS 7, para. 33A), an amendment applicable with IFRS 18 (para. 64).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"In operating activities, at the entity's choice, as in the current wording.","es":""},"correct":false,"feedback":{"fr":"","en":"This option disappears with the deletion of para. 34.","es":""}},{"id":"B","text":{"fr":"","en":"Always in financing activities.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"In investing activities, like dividends received.","es":""},"correct":false,"feedback":{"fr":"","en":"Only dividends received go to investing.","es":""}},{"id":"D","text":{"fr":"","en":"Outside the statement, since a dividend is a distribution of equity.","es":""},"correct":false,"feedback":{"fr":"","en":"The payment is a cash outflow, presented in the statement.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000348","standard_id":"IAS7","concept_ids":["IAS7.SPECIFIC_FLOWS.INTEREST_AND_DIVIDENDS"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000348","tested_point":"QST.IAS7.000348","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000012","section_id":"separate-consistent"},"references":["IAS 7 §34A","IAS 7 §64"],"exercise":{"prompt":{"fr":"","en":"Case data: Doranne, a distributor with no main business activity of investing or providing financing to customers, applies IFRS 18 early for its period beginning 1 January 2026 and discloses this in its notes. It received 40,000 of interest on its investments. How does it present this cash flow for that period?","es":""},"explanation":{"fr":"","en":"By applying IFRS 18 early, Doranne also applies the amended version of IAS 7 (para. 64): interest received goes to investing (IAS 7, para. 34A).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Either as operating or as investing, the period beginning before 2027.","es":""},"correct":false,"feedback":{"fr":"","en":"Early application of IFRS 18 brings in the amended version from 2026.","es":""}},{"id":"B","text":{"fr":"","en":"As operating, operating profit being the starting point.","es":""},"correct":false,"feedback":{"fr":"","en":"The starting point does not decide the classification of interest received.","es":""}},{"id":"C","text":{"fr":"","en":"As financing, like interest paid.","es":""},"correct":false,"feedback":{"fr":"","en":"Financing covers interest paid.","es":""}},{"id":"D","text":{"fr":"","en":"As investing.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS7.000349","standard_id":"IAS7","concept_ids":["IAS7.OPERATING_METHODS.INDIRECT_METHOD"],"dimension":"APPLICATION","context":"V1_QST.IAS7.000349","tested_point":"QST.IAS7.000349","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IAS7","lesson_id":"LS.IAS7.000009","section_id":"rule"},"references":["IAS 7 §20","IAS 7 §64"],"exercise":{"prompt":{"fr":"","en":"Case data: Pelvane, a manufacturer, applies IFRS 18 for its period beginning 1 January 2027. Operating profit 600,000; profit for the year 380,000; depreciation (operating category) 120,000; increase in trade receivables 50,000; income tax paid 110,000. No other items. What is net cash flow from operating activities (indirect method)?","es":""},"explanation":{"fr":"","en":"Version applicable with IFRS 18: start from operating profit, and tax paid, an operating cash flow outside the operating category, is deducted (IAS 7, para. 20, amended version; para. 64). 600,000 + 120,000 − 50,000 − 110,000 = 560,000.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"340,000, starting from profit for the year and then deducting tax paid.","es":""},"correct":false,"feedback":{"fr":"","en":"The starting point is operating profit, not profit for the year.","es":""}},{"id":"B","text":{"fr":"","en":"560,000","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"670,000, tax being already excluded from operating profit.","es":""},"correct":false,"feedback":{"fr":"","en":"Tax paid remains an operating cash flow to be deducted.","es":""}},{"id":"D","text":{"fr":"","en":"660,000, adding the increase in receivables and deducting tax.","es":""},"correct":false,"feedback":{"fr":"","en":"An increase in receivables is deducted.","es":""}}]},"scope":"CORE_STUDENT"}],"reviewTitles":{"LX.IAS7.000001":"Why a statement of cash flows? Objective, scope and benefits — The rule: a statement for each period, for all entities","LX.IAS7.000002":"Why a statement of cash flows? Objective, scope and benefits — The rule: a statement for each period, for all entities","LX.IAS7.000003":"Why a statement of cash flows? Objective, scope and benefits — What cash flow information provides","LX.IAS7.000004":"Why a statement of cash flows? Objective, scope and benefits — What cash flow information provides","LX.IAS7.000005":"Why a statement of cash flows? Objective, scope and benefits — Judgement: interpreting the gap between profit and cash","LX.IAS7.000006":"The vocabulary: cash flows and three activities — The definitions","LX.IAS7.000007":"The vocabulary: cash flows and three activities — The definitions","LX.IAS7.000008":"The vocabulary: cash flows and three activities — Example: Fabriol's cash flows in N","LX.IAS7.000009":"The vocabulary: cash flows and three activities — The definitions","LX.IAS7.000010":"The vocabulary: cash flows and three activities — Investing or financing: look at what is obtained or owed","LX.IAS7.000011":"The vocabulary: cash flows and three activities — Investing or financing: look at what is obtained or owed","LX.IAS7.000012":"The vocabulary: cash flows and three activities — Operating: the principal activity and the residual","LX.IAS7.000013":"The vocabulary: cash flows and three activities — Judgement: the principal activity depends on the entity","LX.IAS7.000014":"Cash and cash equivalents: what does the statement measure? — Maturity: about three months from acquisition","LX.IAS7.000015":"Cash and cash equivalents: what does the statement measure? — Maturity: about three months from acquisition","LX.IAS7.000016":"Cash and cash equivalents: what does the statement measure? — Maturity: about three months from acquisition","LX.IAS7.000017":"Cash and cash equivalents: what does the statement measure? — Maturity: about three months from acquisition","LX.IAS7.000018":"Cash and cash equivalents: what does the statement measure? — Cash and equivalents: the definitions","LX.IAS7.000019":"Cash and cash equivalents: what does the statement measure? — Numeric example: Cardelis's aggregate at 31/12/N","LX.IAS7.000020":"Cash and cash equivalents: what does the statement measure? — Bank overdrafts","LX.IAS7.000021":"Cash and cash equivalents: what does the statement measure? — Internal movements are not cash flows","LX.IAS7.000022":"Cash and cash equivalents: what does the statement measure? — Judgement: blurred boundaries and the policy adopted","LX.IAS7.000023":"Cash and cash equivalents: what does the statement measure? — Method: building the opening and closing aggregate","LX.IAS7.000024":"Cash and cash equivalents: what does the statement measure? — Judgement: blurred boundaries and the policy adopted","LX.IAS7.000025":"Cash and cash equivalents: what does the statement measure? — Bank overdrafts","LX.IAS7.000026":"The principle: three activities, one change in cash — The rule: classify by activity, present according to the business","LX.IAS7.000027":"The principle: three activities, one change in cash — The rule: classify by activity, present according to the business","LX.IAS7.000028":"The principle: three activities, one change in cash — Numeric example: Cardelis's summary statement","LX.IAS7.000029":"The principle: three activities, one change in cash — One transaction, several cash flows","LX.IAS7.000030":"The principle: three activities, one change in cash — One transaction, several cash flows","LX.IAS7.000031":"The principle: three activities, one change in cash — Method: building the statement and checking it","LX.IAS7.000032":"The principle: three activities, one change in cash — Method: building the statement and checking it","LX.IAS7.000033":"The principle: three activities, one change in cash — One transaction, several cash flows","LX.IAS7.000034":"The principle: three activities, one change in cash — Judgement: the \"most appropriate\" presentation","LX.IAS7.000035":"Operating activities — What is operating","LX.IAS7.000036":"Operating activities — What is operating","LX.IAS7.000037":"Operating activities — The gain on disposal is in profit, the proceeds are investing","LX.IAS7.000038":"Operating activities — Two exceptions that bring flows back into operating","LX.IAS7.000039":"Operating activities — Two exceptions that bring flows back into operating","LX.IAS7.000040":"Operating activities — A key indicator","LX.IAS7.000041":"Operating activities — Common errors","LX.IAS7.000042":"Operating activities — Method: testing an operating cash flow","LX.IAS7.000043":"Operating activities — What is operating","LX.IAS7.000044":"Operating activities — Judgement: ambiguous cash flows","LX.IAS7.000045":"Investing activities — The condition: a recognised asset","LX.IAS7.000046":"Investing activities — Typical investing cash flows","LX.IAS7.000047":"Investing activities — Typical investing cash flows","LX.IAS7.000048":"Investing activities — Numeric example: Belmarne's fixed assets","LX.IAS7.000049":"Investing activities — Numeric example: Belmarne's fixed assets","LX.IAS7.000050":"Investing activities — From entry to cash flow: the disposal","LX.IAS7.000051":"Investing activities — Method: rebuilding the cash flows from the fixed asset roll-forward","LX.IAS7.000052":"Investing activities — Common errors","LX.IAS7.000053":"Investing activities — Typical investing cash flows","LX.IAS7.000054":"Investing activities — The condition: a recognised asset","LX.IAS7.000055":"Investing activities — Method: rebuilding the cash flows from the fixed asset roll-forward","LX.IAS7.000056":"Investing activities — Judgement: follow the balance sheet, not the intention","LX.IAS7.000057":"Financing activities — The lessee's lease payments","LX.IAS7.000058":"Financing activities — Financing cash flows","LX.IAS7.000059":"Financing activities — Financing cash flows","LX.IAS7.000060":"Financing activities — Numeric example: Torvane's liabilities","LX.IAS7.000061":"Financing activities — Method: rebuilding cash flows from the liabilities","LX.IAS7.000062":"Financing activities — From entry to cash flow: drawdown and lease payment","LX.IAS7.000063":"Financing activities — From entry to cash flow: drawdown and lease payment","LX.IAS7.000064":"Financing activities — Common errors","LX.IAS7.000065":"Financing activities — Why isolate financing","LX.IAS7.000066":"Financing activities — Judgement: going back to the contracts","LX.IAS7.000067":"Financing activities — Financing cash flows","LX.IAS7.000068":"The direct method: gross receipts and payments — The rule: two possible methods, the direct one encouraged","LX.IAS7.000069":"The direct method: gross receipts and payments — Two ways of obtaining the amounts","LX.IAS7.000070":"The direct method: gross receipts and payments — Method: three formulas to remember","LX.IAS7.000071":"The direct method: gross receipts and payments — Method: three formulas to remember","LX.IAS7.000072":"The direct method: gross receipts and payments — Method: three formulas to remember","LX.IAS7.000073":"The direct method: gross receipts and payments — The rule: two possible methods, the direct one encouraged","LX.IAS7.000074":"The direct method: gross receipts and payments — Common errors","LX.IAS7.000075":"The direct method: gross receipts and payments — Why the direct method is encouraged","LX.IAS7.000076":"The direct method: gross receipts and payments — Numeric example: Cardelis under the direct method","LX.IAS7.000077":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","LX.IAS7.000078":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","LX.IAS7.000079":"The indirect method: from profit to operating cash flow — Numeric example: Dolvane's reconciliation","LX.IAS7.000080":"The indirect method: from profit to operating cash flow — Numeric example: Dolvane's reconciliation","LX.IAS7.000081":"The indirect method: from profit to operating cash flow — Common errors","LX.IAS7.000082":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","LX.IAS7.000083":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","LX.IAS7.000084":"The indirect method: from profit to operating cash flow — The direction of working capital changes","LX.IAS7.000085":"The indirect method: from profit to operating cash flow — Method: the reconciliation step by step","LX.IAS7.000086":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","LX.IAS7.000087":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","LX.IAS7.000088":"The indirect method: from profit to operating cash flow — Judgement: a reconciliation that must tie in","LX.IAS7.000089":"Gross or net: when may cash flows be offset? — The principle: gross for investing and financing","LX.IAS7.000090":"Gross or net: when may cash flows be offset? — The two cases of net reporting","LX.IAS7.000091":"Gross or net: when may cash flows be offset? — The two cases of net reporting","LX.IAS7.000092":"Gross or net: when may cash flows be offset? — Numeric example: Mervane Management","LX.IAS7.000093":"Gross or net: when may cash flows be offset? — Common errors","LX.IAS7.000094":"Gross or net: when may cash flows be offset? — Financial institutions","LX.IAS7.000095":"Gross or net: when may cash flows be offset? — The two cases of net reporting","LX.IAS7.000096":"Gross or net: when may cash flows be offset? — Judgement: agent or principal?","LX.IAS7.000097":"Foreign currency cash flows and the effect of exchange rate changes — Foreign currency transactions","LX.IAS7.000098":"Foreign currency cash flows and the effect of exchange rate changes — The cash flows of a foreign subsidiary","LX.IAS7.000099":"Foreign currency cash flows and the effect of exchange rate changes — Numeric example: Corlisse's dollar account","LX.IAS7.000100":"Foreign currency cash flows and the effect of exchange rate changes — Common errors","LX.IAS7.000101":"Foreign currency cash flows and the effect of exchange rate changes — The cash flows of a foreign subsidiary","LX.IAS7.000102":"Foreign currency cash flows and the effect of exchange rate changes — Unrealised differences and the exchange effect line","LX.IAS7.000103":"Foreign currency cash flows and the effect of exchange rate changes — The cash flows of a foreign subsidiary","LX.IAS7.000104":"Foreign currency cash flows and the effect of exchange rate changes — Judgement: when does an average rate \"approximate\" the actual rate?","LX.IAS7.000105":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","LX.IAS7.000106":"Interest and dividends: present, classify, stay consistent — The options open to entities other than financial institutions","LX.IAS7.000107":"Interest and dividends: present, classify, stay consistent — The options open to entities other than financial institutions","LX.IAS7.000108":"Interest and dividends: present, classify, stay consistent — The options open to entities other than financial institutions","LX.IAS7.000109":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","LX.IAS7.000110":"Interest and dividends: present, classify, stay consistent — Method: from the income statement to amounts paid","LX.IAS7.000111":"Interest and dividends: present, classify, stay consistent — Method: from the income statement to amounts paid","LX.IAS7.000112":"Interest and dividends: present, classify, stay consistent — The total interest paid","LX.IAS7.000113":"Interest and dividends: present, classify, stay consistent — From entry to cash flow: interest and dividends","LX.IAS7.000114":"Interest and dividends: present, classify, stay consistent — The total interest paid","LX.IAS7.000115":"Interest and dividends: present, classify, stay consistent — The options open to entities other than financial institutions","LX.IAS7.000116":"Interest and dividends: present, classify, stay consistent — Common errors","LX.IAS7.000117":"Interest and dividends: present, classify, stay consistent — Judgement: choosing a policy and sticking to it","LX.IAS7.000118":"Interest and dividends: present, classify, stay consistent — The options open to entities other than financial institutions","LX.IAS7.000119":"Interest and dividends: present, classify, stay consistent — Judgement: choosing a policy and sticking to it","LX.IAS7.000120":"Interest and dividends: present, classify, stay consistent — Judgement: choosing a policy and sticking to it","LX.IAS7.000121":"Taxes on income — The rule: separate, operating by default","LX.IAS7.000122":"Taxes on income — The rule: separate, operating by default","LX.IAS7.000123":"Taxes on income — Method: calculating tax paid","LX.IAS7.000124":"Taxes on income — Method: calculating tax paid","LX.IAS7.000125":"Taxes on income — From entry to cash flow: paying the tax","LX.IAS7.000126":"Taxes on income — Common errors","LX.IAS7.000127":"Taxes on income — Identification with investing or financing","LX.IAS7.000128":"Taxes on income — Identification with investing or financing","LX.IAS7.000129":"Taxes on income — Identification with investing or financing","LX.IAS7.000130":"Taxes on income — Judgement: when is identification \"practicable\"?","LX.IAS7.000131":"Taxes on income — The rule: separate, operating by default","LX.IAS7.000132":"Investments accounted for using the equity method or at cost — The rule: cash flows between investor and investee","LX.IAS7.000133":"Investments accounted for using the equity method or at cost — The rule: cash flows between investor and investee","LX.IAS7.000134":"Investments accounted for using the equity method or at cost — Method: finding the dividends received","LX.IAS7.000135":"Investments accounted for using the equity method or at cost — The rule: cash flows between investor and investee","LX.IAS7.000136":"Investments accounted for using the equity method or at cost — Common errors","LX.IAS7.000137":"Investments accounted for using the equity method or at cost — Judgement: rebuilding when other movements exist","LX.IAS7.000138":"Buying or selling a subsidiary, changing the interest held — A separate investing line, net of cash","LX.IAS7.000139":"Buying or selling a subsidiary, changing the interest held — A separate investing line, net of cash","LX.IAS7.000140":"Buying or selling a subsidiary, changing the interest held — Numeric example: the Selmorne group buys and sells","LX.IAS7.000141":"Buying or selling a subsidiary, changing the interest held — Common errors","LX.IAS7.000142":"Buying or selling a subsidiary, changing the interest held — Disclosures on obtaining and losing control","LX.IAS7.000143":"Buying or selling a subsidiary, changing the interest held — Method: handling an acquisition in the consolidated statement","LX.IAS7.000144":"Buying or selling a subsidiary, changing the interest held — Disclosures on obtaining and losing control","LX.IAS7.000145":"Buying or selling a subsidiary, changing the interest held — Judgement: does control change?","LX.IAS7.000146":"Buying or selling a subsidiary, changing the interest held — Changes in interests without loss of control: financing","LX.IAS7.000147":"Buying or selling a subsidiary, changing the interest held — Changes in interests without loss of control: financing","LX.IAS7.000148":"Buying or selling a subsidiary, changing the interest held — Changes in interests without loss of control: financing","LX.IAS7.000149":"Buying or selling a subsidiary, changing the interest held — Judgement: does control change?","LX.IAS7.000150":"Investing or financing without cash — The rule: exclude from the statement, disclose elsewhere","LX.IAS7.000151":"Investing or financing without cash — Typical examples","LX.IAS7.000152":"Investing or financing without cash — Typical examples","LX.IAS7.000153":"Investing or financing without cash — Numeric example: Parvelle's acquisitions","LX.IAS7.000154":"Investing or financing without cash — Entries without the bank","LX.IAS7.000155":"Investing or financing without cash — Entries without the bank","LX.IAS7.000156":"Investing or financing without cash — Common errors","LX.IAS7.000157":"Investing or financing without cash — Typical examples","LX.IAS7.000158":"Investing or financing without cash — Judgement: transactions \"partly\" in cash","LX.IAS7.000159":"Reconciling liabilities arising from financing activities — The objective and the changes to present","LX.IAS7.000160":"Reconciling liabilities arising from financing activities — The objective and the changes to present","LX.IAS7.000161":"Reconciling liabilities arising from financing activities — Which liabilities, and which assets?","LX.IAS7.000162":"Reconciling liabilities arising from financing activities — Which liabilities, and which assets?","LX.IAS7.000163":"Reconciling liabilities arising from financing activities — Numeric example: Cendrel's reconciliation","LX.IAS7.000164":"Reconciling liabilities arising from financing activities — Method: building the reconciliation table","LX.IAS7.000165":"Reconciling liabilities arising from financing activities — The objective and the changes to present","LX.IAS7.000166":"Reconciling liabilities arising from financing activities — Common errors","LX.IAS7.000167":"Reconciling liabilities arising from financing activities — The reconciliation: one way of meeting the objective","LX.IAS7.000168":"Reconciling liabilities arising from financing activities — Method: building the reconciliation table","LX.IAS7.000169":"Reconciling liabilities arising from financing activities — Numeric example: Cendrel's reconciliation","LX.IAS7.000170":"Reconciling liabilities arising from financing activities — Judgement: scope and level of detail","LX.IAS7.000171":"Supplier finance arrangements — The objective and the disclosures","LX.IAS7.000172":"Supplier finance arrangements — What is a supplier finance arrangement?","LX.IAS7.000173":"Supplier finance arrangements — What is a supplier finance arrangement?","LX.IAS7.000174":"Supplier finance arrangements — The objective and the disclosures","LX.IAS7.000175":"Supplier finance arrangements — Common errors","LX.IAS7.000176":"Supplier finance arrangements — Example: Amberol's note","LX.IAS7.000177":"Supplier finance arrangements — What is a supplier finance arrangement?","LX.IAS7.000178":"Supplier finance arrangements — Judgement: qualifying and grouping","LX.IAS7.000179":"Components of cash, restricted cash and encouraged disclosures — Components, reconciliation and policy","LX.IAS7.000180":"Components of cash, restricted cash and encouraged disclosures — Numeric example: Cardelis's cash note","LX.IAS7.000181":"Components of cash, restricted cash and encouraged disclosures — Components, reconciliation and policy","LX.IAS7.000182":"Components of cash, restricted cash and encouraged disclosures — Method: the cash note","LX.IAS7.000183":"Components of cash, restricted cash and encouraged disclosures — Common errors","LX.IAS7.000184":"Components of cash, restricted cash and encouraged disclosures — Components, reconciliation and policy","LX.IAS7.000185":"Components of cash, restricted cash and encouraged disclosures — Components, reconciliation and policy","LX.IAS7.000186":"Components of cash, restricted cash and encouraged disclosures — Cash not available for use by the group","LX.IAS7.000187":"Components of cash, restricted cash and encouraged disclosures — Cash not available for use by the group","LX.IAS7.000188":"Components of cash, restricted cash and encouraged disclosures — Encouraged disclosures","LX.IAS7.000189":"Components of cash, restricted cash and encouraged disclosures — Common errors","LX.IAS7.000190":"Components of cash, restricted cash and encouraged disclosures — Encouraged disclosures","LX.IAS7.000191":"Components of cash, restricted cash and encouraged disclosures — Judgement: significance and availability","LX.IAS7.000192":"IAS 7 from 1 January 2027: what IFRS 18 changes — Which version for which period?","LX.IAS7.000193":"Interest and dividends from 2027: the end of the options for most entities — The general rule: four flows, two activities","LX.IAS7.000194":"Indirect method from 2027: starting from operating profit — Method: from operating profit to net operating cash flow","LX.IAS7.000195":"Interest and dividends from 2027: the end of the options for most entities — The entity whose main business activity is investing or financing customers","LX.IAS7.000196":"IAS 7 from 1 January 2027: what IFRS 18 changes — Professional judgement: applying early, assessing status, presenting the comparative","LX.IAS7.000197":"Indirect method from 2027: starting from operating profit — The rule in the version amended by IFRS 18","LX.IAS7.000198":"Indirect method from 2027: starting from operating profit — Method: from operating profit to net operating cash flow","LX.IAS7.000199":"Indirect method from 2027: starting from operating profit — Common mistakes","LX.IAS7.000200":"Indirect method from 2027: starting from operating profit — What is inside operating profit, and what is not","LX.IAS7.000201":"Indirect method from 2027: starting from operating profit — Operating category and operating activities: two notions","LX.IAS7.000202":"Indirect method from 2027: starting from operating profit — Worked example: Tarquine, before and after","LX.IAS7.000203":"Indirect method from 2027: starting from operating profit — Judgement: where the operating category begins","LX.IAS7.000204":"Interest and dividends from 2027: the end of the options for most entities — What does not change: separate lines, consistency, total interest paid","LX.IAS7.000205":"Interest and dividends from 2027: the end of the options for most entities — What does not change: separate lines, consistency, total interest paid","LX.IAS7.000206":"Interest and dividends from 2027: the end of the options for most entities — From \"I choose\" to \"the standard classifies\"","LX.IAS7.000207":"Interest and dividends from 2027: the end of the options for most entities — Worked example: the effect on the three subtotals","LX.IAS7.000209":"Interest and dividends from 2027: the end of the options for most entities — The general rule: four flows, two activities","LX.IAS7.000210":"Interest and dividends from 2027: the end of the options for most entities — Worked example: the effect on the three subtotals","LX.IAS7.000211":"Interest and dividends from 2027: the end of the options for most entities — One transaction, several classifications: repaying a loan","LX.IAS7.000212":"Interest and dividends from 2027: the end of the options for most entities — One transaction, several classifications: repaying a loan","LX.IAS7.000213":"IAS 7 from 1 January 2027: what IFRS 18 changes — Cross-references and wording: what moves without changing the rule","LX.IAS7.000214":"IAS 7 from 1 January 2027: what IFRS 18 changes — Cross-references and wording: what moves without changing the rule","LX.IAS7.000215":"IAS 7 from 1 January 2027: what IFRS 18 changes — Cross-references and wording: what moves without changing the rule","LX.IAS7.000216":"IAS 7 from 1 January 2027: what IFRS 18 changes — Cross-references and wording: what moves without changing the rule","LX.IAS7.000217":"The presentation principle from 2027: cross-reference to IFRS 18 and paragraph 12 without the loan example — Amended paragraph 10: three activities and the general requirements of IFRS 18","LX.IAS7.000218":"The presentation principle from 2027: cross-reference to IFRS 18 and paragraph 12 without the loan example — Paragraph 12: the principle stays, the loan example goes","LX.IAS7.000219":"The presentation principle from 2027: cross-reference to IFRS 18 and paragraph 12 without the loan example — Paragraph 12: the principle stays, the loan example goes","LX.IAS7.000220":"The presentation principle from 2027: cross-reference to IFRS 18 and paragraph 12 without the loan example — Worked example: Garravel, a loan, a lease payment and a machine","LX.IAS7.000221":"The presentation principle from 2027: cross-reference to IFRS 18 and paragraph 12 without the loan example — Amended paragraph 10: three activities and the general requirements of IFRS 18","LX.IAS7.000222":"The presentation principle from 2027: cross-reference to IFRS 18 and paragraph 12 without the loan example — Paragraph 12: the principle stays, the loan example goes","LX.IAS7.000223":"The presentation principle from 2027: cross-reference to IFRS 18 and paragraph 12 without the loan example — Method: classifying the cash flows of a transaction in 2027","LX.IAS7.000224":"The presentation principle from 2027: cross-reference to IFRS 18 and paragraph 12 without the loan example — Paragraph 12: the principle stays, the loan example goes","LX.IAS7.000225":"The presentation principle from 2027: cross-reference to IFRS 18 and paragraph 12 without the loan example — The principle at work: two transactions whose flows are split","LX.IAS7.000226":"The presentation principle from 2027: cross-reference to IFRS 18 and paragraph 12 without the loan example — Judgement: staying within the text, documenting the status","LX.IAS7.000227":"Operating activities from 2027: paragraph 14(h) and paragraphs 34B to 34D — Paragraph 14(h): when interest and dividends become operating","LX.IAS7.000228":"Operating activities from 2027: paragraph 14(h) and paragraphs 34B to 34D — The list in paragraph 14: unchanged examples and item (h)","LX.IAS7.000229":"Operating activities from 2027: paragraph 14(h) and paragraphs 34B to 34D — The list in paragraph 14: unchanged examples and item (h)","LX.IAS7.000230":"Operating activities from 2027: paragraph 14(h) and paragraphs 34B to 34D — Worked example: same cash flows, two statuses","LX.IAS7.000231":"Operating activities from 2027: paragraph 14(h) and paragraphs 34B to 34D — Paragraph 14(h): when interest and dividends become operating","LX.IAS7.000232":"Operating activities from 2027: paragraph 14(h) and paragraphs 34B to 34D — Paragraph 14(h): when interest and dividends become operating","LX.IAS7.000233":"Operating activities from 2027: paragraph 14(h) and paragraphs 34B to 34D — Paragraph 14(h): when interest and dividends become operating","LX.IAS7.000234":"Operating activities from 2027: paragraph 14(h) and paragraphs 34B to 34D — Common mistakes","LX.IAS7.000235":"Operating activities from 2027: paragraph 14(h) and paragraphs 34B to 34D — Disposal of equipment: the gain in profit, the proceeds in investing","LX.IAS7.000236":"Operating activities from 2027: paragraph 14(h) and paragraphs 34B to 34D — Judgement: status of the entity, category of items, paragraph 34D policy","LX.IAS7.000237":"Financing activities from 2027: dividends paid, interest paid and the paragraph 17 list — Dividends paid (33A) and interest paid (34A)","LX.IAS7.000238":"Financing activities from 2027: dividends paid, interest paid and the paragraph 17 list — The list in paragraph 17 in the IFRS 18 version","LX.IAS7.000239":"Financing activities from 2027: dividends paid, interest paid and the paragraph 17 list — The list in paragraph 17 in the IFRS 18 version","LX.IAS7.000240":"Financing activities from 2027: dividends paid, interest paid and the paragraph 17 list — Worked example: Meridane rebuilds its financing cash flows","LX.IAS7.000241":"Financing activities from 2027: dividends paid, interest paid and the paragraph 17 list — Worked example: Meridane rebuilds its financing cash flows","LX.IAS7.000242":"Financing activities from 2027: dividends paid, interest paid and the paragraph 17 list — Dividends paid (33A) and interest paid (34A)","LX.IAS7.000243":"Financing activities from 2027: dividends paid, interest paid and the paragraph 17 list — Common mistakes","LX.IAS7.000244":"Financing activities from 2027: dividends paid, interest paid and the paragraph 17 list — The list in paragraph 17 in the IFRS 18 version","LX.IAS7.000245":"Financing activities from 2027: dividends paid, interest paid and the paragraph 17 list — Judgement: status, scope of lease payments, evidence for amounts","LX.IAS7.000246":"Direct and indirect methods from 2027: the choice in paragraph 18 and the encouragement in paragraph 19 — Paragraph 19: the direct method is encouraged","LX.IAS7.000247":"Direct and indirect methods from 2027: the choice in paragraph 18 and the encouragement in paragraph 19 — Paragraph 18 plainly: (a), (b)(i) to (iv)","LX.IAS7.000248":"Direct and indirect methods from 2027: the choice in paragraph 18 and the encouragement in paragraph 19 — Worked example: Sandrelle, both methods meet","LX.IAS7.000249":"Direct and indirect methods from 2027: the choice in paragraph 18 and the encouragement in paragraph 19 — Paragraph 18 plainly: (a), (b)(i) to (iv)","LX.IAS7.000250":"Direct and indirect methods from 2027: the choice in paragraph 18 and the encouragement in paragraph 19 — Paragraph 18 plainly: (a), (b)(i) to (iv)","LX.IAS7.000251":"Direct and indirect methods from 2027: the choice in paragraph 18 and the encouragement in paragraph 19 — Paragraph 18 plainly: (a), (b)(i) to (iv)","LX.IAS7.000252":"Direct and indirect methods from 2027: the choice in paragraph 18 and the encouragement in paragraph 19 — Common mistakes","LX.IAS7.000253":"Direct and indirect methods from 2027: the choice in paragraph 18 and the encouragement in paragraph 19 — Paragraph 18 plainly: (a), (b)(i) to (iv)","LX.IAS7.000254":"Direct and indirect methods from 2027: the choice in paragraph 18 and the encouragement in paragraph 19 — Judgement: choosing, documenting and staying within the text","LX.IAS7.000255":"Income tax and operating profit: the link in paragraphs 18(b)(iv) and 20(d) — Paragraphs 18(b)(iv) and 20(d): the rule and its scope","LX.IAS7.000256":"Income tax and operating profit: the link in paragraphs 18(b)(iv) and 20(d) — Paragraphs 18(b)(iv) and 20(d): the rule and its scope","LX.IAS7.000257":"Income tax and operating profit: the link in paragraphs 18(b)(iv) and 20(d) — Computing tax paid: from current tax to the cash flow","LX.IAS7.000258":"Income tax and operating profit: the link in paragraphs 18(b)(iv) and 20(d) — Worked example: Plavenne, both routes","LX.IAS7.000259":"Income tax and operating profit: the link in paragraphs 18(b)(iv) and 20(d) — Two routes, one net cash flow","LX.IAS7.000260":"Income tax and operating profit: the link in paragraphs 18(b)(iv) and 20(d) — The entries: from expense to payment","LX.IAS7.000261":"Income tax and operating profit: the link in paragraphs 18(b)(iv) and 20(d) — Paragraphs 18(b)(iv) and 20(d): the rule and its scope","LX.IAS7.000262":"Income tax and operating profit: the link in paragraphs 18(b)(iv) and 20(d) — Paragraphs 18(b)(iv) and 20(d): the rule and its scope","LX.IAS7.000263":"Income tax and operating profit: the link in paragraphs 18(b)(iv) and 20(d) — Common mistakes","LX.IAS7.000264":"Income tax and operating profit: the link in paragraphs 18(b)(iv) and 20(d) — Judgement: whether to attach a tax to an activity","LX.IAS7.000265":"Associates and joint ventures from 2027: dividends received and share of profit — Paragraphs 37 and 38: the cash flows between investor and investee","LX.IAS7.000266":"Associates and joint ventures from 2027: dividends received and share of profit — Dividends received from the associate: investing for an ordinary entity","LX.IAS7.000267":"Associates and joint ventures from 2027: dividends received and share of profit — Paragraphs 37 and 38: the cash flows between investor and investee","LX.IAS7.000268":"Associates and joint ventures from 2027: dividends received and share of profit — Worked example: Calvion and its associate Verdane","LX.IAS7.000269":"Associates and joint ventures from 2027: dividends received and share of profit — Worked example: Calvion and its associate Verdane","LX.IAS7.000270":"Associates and joint ventures from 2027: dividends received and share of profit — The entries for the equity-accounted investment","LX.IAS7.000271":"Associates and joint ventures from 2027: dividends received and share of profit — The share of profit and the reconciliation from operating profit","LX.IAS7.000272":"Associates and joint ventures from 2027: dividends received and share of profit — Common mistakes","LX.IAS7.000273":"Associates and joint ventures from 2027: dividends received and share of profit — Paragraphs 37 and 38: the cash flows between investor and investee","LX.IAS7.000274":"Associates and joint ventures from 2027: dividends received and share of profit — Judgement: category of the share, scope of flows, limits of the lesson","LX.IAS7.000275":"Reconciling financing liabilities from 2027: a wider scope (paragraphs 44A to 44E) — The widened scope of paragraph 44C: dividends and interest payable","LX.IAS7.000276":"Reconciling financing liabilities from 2027: a wider scope (paragraphs 44A to 44E) — The widened scope of paragraph 44C: dividends and interest payable","LX.IAS7.000277":"Reconciling financing liabilities from 2027: a wider scope (paragraphs 44A to 44E) — Paragraphs 44A to 44E plainly","LX.IAS7.000278":"Reconciling financing liabilities from 2027: a wider scope (paragraphs 44A to 44E) — Worked example: Kestrelle's reconciliation","LX.IAS7.000279":"Reconciling financing liabilities from 2027: a wider scope (paragraphs 44A to 44E) — Worked example: Kestrelle's reconciliation","LX.IAS7.000280":"Reconciling financing liabilities from 2027: a wider scope (paragraphs 44A to 44E) — Linking the cash column to Kestrelle's statement","LX.IAS7.000281":"Reconciling financing liabilities from 2027: a wider scope (paragraphs 44A to 44E) — Common mistakes","LX.IAS7.000282":"Reconciling financing liabilities from 2027: a wider scope (paragraphs 44A to 44E) — Judgement: scope of the reconciliation and presentation","LX.IAS7.000283":"Reconciling financing liabilities from 2027: a wider scope (paragraphs 44A to 44E) — Judgement: scope of the reconciliation and presentation","QST.IAS7.000001":"Why a statement of cash flows? Objective, scope and benefits — The rule: a statement for each period, for all entities","QST.IAS7.000002":"Why a statement of cash flows? Objective, scope and benefits — The rule: a statement for each period, for all entities","QST.IAS7.000003":"Why a statement of cash flows? Objective, scope and benefits — The rule: a statement for each period, for all entities","QST.IAS7.000004":"Why a statement of cash flows? Objective, scope and benefits — The rule: a statement for each period, for all entities","QST.IAS7.000005":"Why a statement of cash flows? Objective, scope and benefits — The rule: a statement for each period, for all entities","QST.IAS7.000006":"Why a statement of cash flows? Objective, scope and benefits — The rule: a statement for each period, for all entities","QST.IAS7.000007":"Why a statement of cash flows? Objective, scope and benefits — The rule: a statement for each period, for all entities","QST.IAS7.000008":"Why a statement of cash flows? Objective, scope and benefits — The rule: a statement for each period, for all entities","QST.IAS7.000009":"Why a statement of cash flows? Objective, scope and benefits — The rule: a statement for each period, for all entities","QST.IAS7.000010":"The vocabulary: cash flows and three activities — The definitions","QST.IAS7.000011":"The vocabulary: cash flows and three activities — The definitions","QST.IAS7.000012":"The vocabulary: cash flows and three activities — The definitions","QST.IAS7.000013":"The vocabulary: cash flows and three activities — The definitions","QST.IAS7.000014":"The vocabulary: cash flows and three activities — The definitions","QST.IAS7.000015":"The vocabulary: cash flows and three activities — The definitions","QST.IAS7.000016":"The vocabulary: cash flows and three activities — The definitions","QST.IAS7.000017":"The vocabulary: cash flows and three activities — The definitions","QST.IAS7.000018":"The vocabulary: cash flows and three activities — The definitions","QST.IAS7.000019":"The vocabulary: cash flows and three activities — The definitions","QST.IAS7.000020":"The vocabulary: cash flows and three activities — The definitions","QST.IAS7.000021":"The vocabulary: cash flows and three activities — The definitions","QST.IAS7.000022":"The vocabulary: cash flows and three activities — The definitions","QST.IAS7.000023":"The vocabulary: cash flows and three activities — The definitions","QST.IAS7.000024":"Cash and cash equivalents: what does the statement measure? — Cash and equivalents: the definitions","QST.IAS7.000025":"Cash and cash equivalents: what does the statement measure? — Cash and equivalents: the definitions","QST.IAS7.000026":"Cash and cash equivalents: what does the statement measure? — Cash and equivalents: the definitions","QST.IAS7.000027":"Cash and cash equivalents: what does the statement measure? — Cash and equivalents: the definitions","QST.IAS7.000028":"Cash and cash equivalents: what does the statement measure? — Cash and equivalents: the definitions","QST.IAS7.000029":"Cash and cash equivalents: what does the statement measure? — Cash and equivalents: the definitions","QST.IAS7.000030":"Cash and cash equivalents: what does the statement measure? — Cash and equivalents: the definitions","QST.IAS7.000031":"Cash and cash equivalents: what does the statement measure? — Cash and equivalents: the definitions","QST.IAS7.000032":"Cash and cash equivalents: what does the statement measure? — Cash and equivalents: the definitions","QST.IAS7.000033":"Cash and cash equivalents: what does the statement measure? — Cash and equivalents: the definitions","QST.IAS7.000034":"Cash and cash equivalents: what does the statement measure? — Cash and equivalents: the definitions","QST.IAS7.000035":"Cash and cash equivalents: what does the statement measure? — Cash and equivalents: the definitions","QST.IAS7.000036":"Cash and cash equivalents: what does the statement measure? — Cash and equivalents: the definitions","QST.IAS7.000037":"Cash and cash equivalents: what does the statement measure? — Cash and equivalents: the definitions","QST.IAS7.000038":"Cash and cash equivalents: what does the statement measure? — Cash and equivalents: the definitions","QST.IAS7.000039":"Cash and cash equivalents: what does the statement measure? — Cash and equivalents: the definitions","QST.IAS7.000040":"Cash and cash equivalents: what does the statement measure? — Cash and equivalents: the definitions","QST.IAS7.000041":"Cash and cash equivalents: what does the statement measure? — Cash and equivalents: the definitions","QST.IAS7.000042":"Cash and cash equivalents: what does the statement measure? — Cash and equivalents: the definitions","QST.IAS7.000043":"Cash and cash equivalents: what does the statement measure? — Cash and equivalents: the definitions","QST.IAS7.000046":"The principle: three activities, one change in cash — The rule: classify by activity, present according to the business","QST.IAS7.000047":"The principle: three activities, one change in cash — The rule: classify by activity, present according to the business","QST.IAS7.000048":"The principle: three activities, one change in cash — The rule: classify by activity, present according to the business","QST.IAS7.000049":"The principle: three activities, one change in cash — The rule: classify by activity, present according to the business","QST.IAS7.000050":"The principle: three activities, one change in cash — The rule: classify by activity, present according to the business","QST.IAS7.000051":"The principle: three activities, one change in cash — The rule: classify by activity, present according to the business","QST.IAS7.000052":"The principle: three activities, one change in cash — The rule: classify by activity, present according to the business","QST.IAS7.000053":"The principle: three activities, one change in cash — The rule: classify by activity, present according to the business","QST.IAS7.000054":"The principle: three activities, one change in cash — The rule: classify by activity, present according to the business","QST.IAS7.000055":"The principle: three activities, one change in cash — The rule: classify by activity, present according to the business","QST.IAS7.000056":"The principle: three activities, one change in cash — The rule: classify by activity, present according to the business","QST.IAS7.000057":"The principle: three activities, one change in cash — The rule: classify by activity, present according to the business","QST.IAS7.000058":"The principle: three activities, one change in cash — The rule: classify by activity, present according to the business","QST.IAS7.000059":"The principle: three activities, one change in cash — The rule: classify by activity, present according to the business","QST.IAS7.000060":"The principle: three activities, one change in cash — The rule: classify by activity, present according to the business","QST.IAS7.000061":"The principle: three activities, one change in cash — The rule: classify by activity, present according to the business","QST.IAS7.000062":"The principle: three activities, one change in cash — The rule: classify by activity, present according to the business","QST.IAS7.000063":"Operating activities — A key indicator","QST.IAS7.000064":"Operating activities — A key indicator","QST.IAS7.000065":"Operating activities — A key indicator","QST.IAS7.000066":"Operating activities — A key indicator","QST.IAS7.000067":"Operating activities — A key indicator","QST.IAS7.000068":"Operating activities — A key indicator","QST.IAS7.000069":"Operating activities — A key indicator","QST.IAS7.000070":"Operating activities — A key indicator","QST.IAS7.000071":"Operating activities — A key indicator","QST.IAS7.000072":"Operating activities — A key indicator","QST.IAS7.000073":"Operating activities — A key indicator","QST.IAS7.000074":"Operating activities — A key indicator","QST.IAS7.000075":"Operating activities — A key indicator","QST.IAS7.000076":"Operating activities — A key indicator","QST.IAS7.000077":"Operating activities — A key indicator","QST.IAS7.000078":"Operating activities — A key indicator","QST.IAS7.000081":"Investing activities — The condition: a recognised asset","QST.IAS7.000082":"Investing activities — The condition: a recognised asset","QST.IAS7.000083":"Investing activities — The condition: a recognised asset","QST.IAS7.000084":"Investing activities — The condition: a recognised asset","QST.IAS7.000085":"Investing activities — The condition: a recognised asset","QST.IAS7.000086":"Investing activities — The condition: a recognised asset","QST.IAS7.000087":"Investing activities — The condition: a recognised asset","QST.IAS7.000088":"Investing activities — The condition: a recognised asset","QST.IAS7.000089":"Investing activities — The condition: a recognised asset","QST.IAS7.000090":"Investing activities — The condition: a recognised asset","QST.IAS7.000091":"Investing activities — The condition: a recognised asset","QST.IAS7.000092":"Investing activities — The condition: a recognised asset","QST.IAS7.000093":"Investing activities — The condition: a recognised asset","QST.IAS7.000094":"Investing activities — The condition: a recognised asset","QST.IAS7.000095":"Investing activities — The condition: a recognised asset","QST.IAS7.000099":"Investing activities — The condition: a recognised asset","QST.IAS7.000100":"Investing activities — The condition: a recognised asset","QST.IAS7.000101":"Investing activities — The condition: a recognised asset","QST.IAS7.000103":"Financing activities — Financing cash flows","QST.IAS7.000104":"Financing activities — Financing cash flows","QST.IAS7.000105":"Financing activities — Financing cash flows","QST.IAS7.000106":"Financing activities — Financing cash flows","QST.IAS7.000107":"Financing activities — Financing cash flows","QST.IAS7.000108":"Financing activities — Financing cash flows","QST.IAS7.000109":"Financing activities — Financing cash flows","QST.IAS7.000110":"Financing activities — Financing cash flows","QST.IAS7.000111":"Financing activities — Financing cash flows","QST.IAS7.000112":"Financing activities — Financing cash flows","QST.IAS7.000113":"Financing activities — Financing cash flows","QST.IAS7.000114":"Financing activities — Financing cash flows","QST.IAS7.000115":"Financing activities — Financing cash flows","QST.IAS7.000116":"Financing activities — Financing cash flows","QST.IAS7.000120":"Financing activities — Financing cash flows","QST.IAS7.000121":"Financing activities — Financing cash flows","QST.IAS7.000122":"Financing activities — Financing cash flows","QST.IAS7.000123":"The direct method: gross receipts and payments — The rule: two possible methods, the direct one encouraged","QST.IAS7.000124":"The direct method: gross receipts and payments — The rule: two possible methods, the direct one encouraged","QST.IAS7.000125":"The direct method: gross receipts and payments — The rule: two possible methods, the direct one encouraged","QST.IAS7.000126":"The direct method: gross receipts and payments — The rule: two possible methods, the direct one encouraged","QST.IAS7.000127":"The direct method: gross receipts and payments — The rule: two possible methods, the direct one encouraged","QST.IAS7.000128":"The direct method: gross receipts and payments — The rule: two possible methods, the direct one encouraged","QST.IAS7.000129":"The direct method: gross receipts and payments — The rule: two possible methods, the direct one encouraged","QST.IAS7.000130":"The direct method: gross receipts and payments — The rule: two possible methods, the direct one encouraged","QST.IAS7.000131":"The direct method: gross receipts and payments — The rule: two possible methods, the direct one encouraged","QST.IAS7.000132":"The direct method: gross receipts and payments — The rule: two possible methods, the direct one encouraged","QST.IAS7.000133":"The direct method: gross receipts and payments — The rule: two possible methods, the direct one encouraged","QST.IAS7.000134":"The direct method: gross receipts and payments — The rule: two possible methods, the direct one encouraged","QST.IAS7.000135":"The direct method: gross receipts and payments — The rule: two possible methods, the direct one encouraged","QST.IAS7.000136":"The direct method: gross receipts and payments — The rule: two possible methods, the direct one encouraged","QST.IAS7.000137":"The direct method: gross receipts and payments — The rule: two possible methods, the direct one encouraged","QST.IAS7.000138":"The direct method: gross receipts and payments — The rule: two possible methods, the direct one encouraged","QST.IAS7.000139":"The direct method: gross receipts and payments — The rule: two possible methods, the direct one encouraged","QST.IAS7.000140":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","QST.IAS7.000141":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","QST.IAS7.000142":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","QST.IAS7.000143":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","QST.IAS7.000144":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","QST.IAS7.000145":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","QST.IAS7.000146":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","QST.IAS7.000147":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","QST.IAS7.000148":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","QST.IAS7.000149":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","QST.IAS7.000150":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","QST.IAS7.000151":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","QST.IAS7.000152":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","QST.IAS7.000153":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","QST.IAS7.000154":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","QST.IAS7.000155":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","QST.IAS7.000156":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","QST.IAS7.000157":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","QST.IAS7.000158":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","QST.IAS7.000159":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","QST.IAS7.000160":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments","QST.IAS7.000161":"Gross or net: when may cash flows be offset? — The principle: gross for investing and financing","QST.IAS7.000162":"Gross or net: when may cash flows be offset? — The principle: gross for investing and financing","QST.IAS7.000163":"Gross or net: when may cash flows be offset? — The principle: gross for investing and financing","QST.IAS7.000164":"Gross or net: when may cash flows be offset? — The principle: gross for investing and financing","QST.IAS7.000165":"Gross or net: when may cash flows be offset? — The principle: gross for investing and financing","QST.IAS7.000166":"Gross or net: when may cash flows be offset? — The principle: gross for investing and financing","QST.IAS7.000167":"Gross or net: when may cash flows be offset? — The principle: gross for investing and financing","QST.IAS7.000168":"Gross or net: when may cash flows be offset? — The principle: gross for investing and financing","QST.IAS7.000169":"Gross or net: when may cash flows be offset? — The principle: gross for investing and financing","QST.IAS7.000170":"Gross or net: when may cash flows be offset? — The principle: gross for investing and financing","QST.IAS7.000171":"Gross or net: when may cash flows be offset? — The principle: gross for investing and financing","QST.IAS7.000172":"Gross or net: when may cash flows be offset? — The principle: gross for investing and financing","QST.IAS7.000173":"Gross or net: when may cash flows be offset? — The principle: gross for investing and financing","QST.IAS7.000174":"Gross or net: when may cash flows be offset? — The principle: gross for investing and financing","QST.IAS7.000175":"Gross or net: when may cash flows be offset? — The principle: gross for investing and financing","QST.IAS7.000176":"Foreign currency cash flows and the effect of exchange rate changes — Foreign currency transactions","QST.IAS7.000177":"Foreign currency cash flows and the effect of exchange rate changes — Foreign currency transactions","QST.IAS7.000178":"Foreign currency cash flows and the effect of exchange rate changes — Foreign currency transactions","QST.IAS7.000179":"Foreign currency cash flows and the effect of exchange rate changes — Foreign currency transactions","QST.IAS7.000180":"Foreign currency cash flows and the effect of exchange rate changes — Foreign currency transactions","QST.IAS7.000181":"Foreign currency cash flows and the effect of exchange rate changes — Foreign currency transactions","QST.IAS7.000182":"Foreign currency cash flows and the effect of exchange rate changes — Foreign currency transactions","QST.IAS7.000183":"Foreign currency cash flows and the effect of exchange rate changes — Foreign currency transactions","QST.IAS7.000184":"Foreign currency cash flows and the effect of exchange rate changes — Foreign currency transactions","QST.IAS7.000185":"Foreign currency cash flows and the effect of exchange rate changes — Foreign currency transactions","QST.IAS7.000186":"Foreign currency cash flows and the effect of exchange rate changes — Foreign currency transactions","QST.IAS7.000187":"Foreign currency cash flows and the effect of exchange rate changes — Foreign currency transactions","QST.IAS7.000188":"Foreign currency cash flows and the effect of exchange rate changes — Foreign currency transactions","QST.IAS7.000189":"Foreign currency cash flows and the effect of exchange rate changes — Foreign currency transactions","QST.IAS7.000190":"Foreign currency cash flows and the effect of exchange rate changes — Foreign currency transactions","QST.IAS7.000191":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000192":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000193":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000194":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000195":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000196":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000197":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000198":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000199":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000200":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000201":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000202":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000203":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000204":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000205":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000206":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000207":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000208":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000209":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000210":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000214":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000215":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000216":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000217":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000220":"Taxes on income — The rule: separate, operating by default","QST.IAS7.000221":"Taxes on income — The rule: separate, operating by default","QST.IAS7.000222":"Taxes on income — The rule: separate, operating by default","QST.IAS7.000223":"Taxes on income — The rule: separate, operating by default","QST.IAS7.000224":"Taxes on income — The rule: separate, operating by default","QST.IAS7.000225":"Taxes on income — The rule: separate, operating by default","QST.IAS7.000226":"Taxes on income — The rule: separate, operating by default","QST.IAS7.000227":"Taxes on income — The rule: separate, operating by default","QST.IAS7.000228":"Taxes on income — The rule: separate, operating by default","QST.IAS7.000229":"Taxes on income — The rule: separate, operating by default","QST.IAS7.000230":"Taxes on income — The rule: separate, operating by default","QST.IAS7.000231":"Taxes on income — The rule: separate, operating by default","QST.IAS7.000232":"Taxes on income — The rule: separate, operating by default","QST.IAS7.000233":"Taxes on income — The rule: separate, operating by default","QST.IAS7.000234":"Taxes on income — The rule: separate, operating by default","QST.IAS7.000237":"Taxes on income — The rule: separate, operating by default","QST.IAS7.000238":"Taxes on income — The rule: separate, operating by default","QST.IAS7.000239":"Taxes on income — The rule: separate, operating by default","QST.IAS7.000240":"Investments accounted for using the equity method or at cost — The rule: cash flows between investor and investee","QST.IAS7.000241":"Investments accounted for using the equity method or at cost — The rule: cash flows between investor and investee","QST.IAS7.000242":"Investments accounted for using the equity method or at cost — The rule: cash flows between investor and investee","QST.IAS7.000243":"Investments accounted for using the equity method or at cost — The rule: cash flows between investor and investee","QST.IAS7.000244":"Investments accounted for using the equity method or at cost — The rule: cash flows between investor and investee","QST.IAS7.000245":"Investments accounted for using the equity method or at cost — The rule: cash flows between investor and investee","QST.IAS7.000246":"Investments accounted for using the equity method or at cost — The rule: cash flows between investor and investee","QST.IAS7.000247":"Investments accounted for using the equity method or at cost — The rule: cash flows between investor and investee","QST.IAS7.000248":"Investments accounted for using the equity method or at cost — The rule: cash flows between investor and investee","QST.IAS7.000249":"Investments accounted for using the equity method or at cost — The rule: cash flows between investor and investee","QST.IAS7.000250":"Buying or selling a subsidiary, changing the interest held — A separate investing line, net of cash","QST.IAS7.000251":"Buying or selling a subsidiary, changing the interest held — A separate investing line, net of cash","QST.IAS7.000252":"Buying or selling a subsidiary, changing the interest held — A separate investing line, net of cash","QST.IAS7.000253":"Buying or selling a subsidiary, changing the interest held — A separate investing line, net of cash","QST.IAS7.000254":"Buying or selling a subsidiary, changing the interest held — A separate investing line, net of cash","QST.IAS7.000255":"Buying or selling a subsidiary, changing the interest held — A separate investing line, net of cash","QST.IAS7.000256":"Buying or selling a subsidiary, changing the interest held — A separate investing line, net of cash","QST.IAS7.000257":"Buying or selling a subsidiary, changing the interest held — A separate investing line, net of cash","QST.IAS7.000258":"Buying or selling a subsidiary, changing the interest held — A separate investing line, net of cash","QST.IAS7.000259":"Buying or selling a subsidiary, changing the interest held — A separate investing line, net of cash","QST.IAS7.000260":"Buying or selling a subsidiary, changing the interest held — A separate investing line, net of cash","QST.IAS7.000261":"Buying or selling a subsidiary, changing the interest held — A separate investing line, net of cash","QST.IAS7.000262":"Buying or selling a subsidiary, changing the interest held — A separate investing line, net of cash","QST.IAS7.000264":"Buying or selling a subsidiary, changing the interest held — A separate investing line, net of cash","QST.IAS7.000265":"Buying or selling a subsidiary, changing the interest held — A separate investing line, net of cash","QST.IAS7.000266":"Buying or selling a subsidiary, changing the interest held — A separate investing line, net of cash","QST.IAS7.000267":"Buying or selling a subsidiary, changing the interest held — A separate investing line, net of cash","QST.IAS7.000268":"Buying or selling a subsidiary, changing the interest held — A separate investing line, net of cash","QST.IAS7.000269":"Buying or selling a subsidiary, changing the interest held — A separate investing line, net of cash","QST.IAS7.000270":"Buying or selling a subsidiary, changing the interest held — A separate investing line, net of cash","QST.IAS7.000271":"Buying or selling a subsidiary, changing the interest held — A separate investing line, net of cash","QST.IAS7.000272":"Investing or financing without cash — The rule: exclude from the statement, disclose elsewhere","QST.IAS7.000273":"Investing or financing without cash — The rule: exclude from the statement, disclose elsewhere","QST.IAS7.000274":"Investing or financing without cash — The rule: exclude from the statement, disclose elsewhere","QST.IAS7.000275":"Investing or financing without cash — The rule: exclude from the statement, disclose elsewhere","QST.IAS7.000276":"Investing or financing without cash — The rule: exclude from the statement, disclose elsewhere","QST.IAS7.000277":"Investing or financing without cash — The rule: exclude from the statement, disclose elsewhere","QST.IAS7.000278":"Investing or financing without cash — The rule: exclude from the statement, disclose elsewhere","QST.IAS7.000279":"Investing or financing without cash — The rule: exclude from the statement, disclose elsewhere","QST.IAS7.000280":"Investing or financing without cash — The rule: exclude from the statement, disclose elsewhere","QST.IAS7.000281":"Investing or financing without cash — The rule: exclude from the statement, disclose elsewhere","QST.IAS7.000282":"Investing or financing without cash — The rule: exclude from the statement, disclose elsewhere","QST.IAS7.000283":"Investing or financing without cash — The rule: exclude from the statement, disclose elsewhere","QST.IAS7.000286":"Investing or financing without cash — The rule: exclude from the statement, disclose elsewhere","QST.IAS7.000287":"Investing or financing without cash — The rule: exclude from the statement, disclose elsewhere","QST.IAS7.000288":"Investing or financing without cash — The rule: exclude from the statement, disclose elsewhere","QST.IAS7.000289":"Reconciling liabilities arising from financing activities — The objective and the changes to present","QST.IAS7.000290":"Reconciling liabilities arising from financing activities — The objective and the changes to present","QST.IAS7.000291":"Reconciling liabilities arising from financing activities — The objective and the changes to present","QST.IAS7.000292":"Reconciling liabilities arising from financing activities — The objective and the changes to present","QST.IAS7.000293":"Reconciling liabilities arising from financing activities — The objective and the changes to present","QST.IAS7.000294":"Reconciling liabilities arising from financing activities — The objective and the changes to present","QST.IAS7.000295":"Reconciling liabilities arising from financing activities — The objective and the changes to present","QST.IAS7.000296":"Reconciling liabilities arising from financing activities — The objective and the changes to present","QST.IAS7.000297":"Reconciling liabilities arising from financing activities — The objective and the changes to present","QST.IAS7.000298":"Reconciling liabilities arising from financing activities — The objective and the changes to present","QST.IAS7.000299":"Reconciling liabilities arising from financing activities — The objective and the changes to present","QST.IAS7.000300":"Reconciling liabilities arising from financing activities — The objective and the changes to present","QST.IAS7.000301":"Reconciling liabilities arising from financing activities — The objective and the changes to present","QST.IAS7.000302":"Reconciling liabilities arising from financing activities — The objective and the changes to present","QST.IAS7.000303":"Reconciling liabilities arising from financing activities — The objective and the changes to present","QST.IAS7.000304":"Reconciling liabilities arising from financing activities — The objective and the changes to present","QST.IAS7.000305":"Reconciling liabilities arising from financing activities — The objective and the changes to present","QST.IAS7.000306":"Reconciling liabilities arising from financing activities — The objective and the changes to present","QST.IAS7.000307":"Reconciling liabilities arising from financing activities — The objective and the changes to present","QST.IAS7.000310":"Supplier finance arrangements — What is a supplier finance arrangement?","QST.IAS7.000311":"Supplier finance arrangements — What is a supplier finance arrangement?","QST.IAS7.000312":"Supplier finance arrangements — What is a supplier finance arrangement?","QST.IAS7.000313":"Supplier finance arrangements — What is a supplier finance arrangement?","QST.IAS7.000314":"Supplier finance arrangements — What is a supplier finance arrangement?","QST.IAS7.000315":"Supplier finance arrangements — What is a supplier finance arrangement?","QST.IAS7.000316":"Supplier finance arrangements — What is a supplier finance arrangement?","QST.IAS7.000317":"Supplier finance arrangements — What is a supplier finance arrangement?","QST.IAS7.000318":"Supplier finance arrangements — What is a supplier finance arrangement?","QST.IAS7.000319":"Supplier finance arrangements — What is a supplier finance arrangement?","QST.IAS7.000320":"Supplier finance arrangements — What is a supplier finance arrangement?","QST.IAS7.000321":"Supplier finance arrangements — What is a supplier finance arrangement?","QST.IAS7.000322":"Supplier finance arrangements — What is a supplier finance arrangement?","QST.IAS7.000324":"Components of cash, restricted cash and encouraged disclosures — Components, reconciliation and policy","QST.IAS7.000325":"Components of cash, restricted cash and encouraged disclosures — Components, reconciliation and policy","QST.IAS7.000326":"Components of cash, restricted cash and encouraged disclosures — Components, reconciliation and policy","QST.IAS7.000327":"Components of cash, restricted cash and encouraged disclosures — Components, reconciliation and policy","QST.IAS7.000328":"Components of cash, restricted cash and encouraged disclosures — Components, reconciliation and policy","QST.IAS7.000329":"Components of cash, restricted cash and encouraged disclosures — Components, reconciliation and policy","QST.IAS7.000330":"Components of cash, restricted cash and encouraged disclosures — Components, reconciliation and policy","QST.IAS7.000331":"Components of cash, restricted cash and encouraged disclosures — Components, reconciliation and policy","QST.IAS7.000332":"Components of cash, restricted cash and encouraged disclosures — Components, reconciliation and policy","QST.IAS7.000333":"Components of cash, restricted cash and encouraged disclosures — Components, reconciliation and policy","QST.IAS7.000334":"Components of cash, restricted cash and encouraged disclosures — Components, reconciliation and policy","QST.IAS7.000335":"Components of cash, restricted cash and encouraged disclosures — Components, reconciliation and policy","QST.IAS7.000336":"Components of cash, restricted cash and encouraged disclosures — Cash not available for use by the group","QST.IAS7.000337":"Components of cash, restricted cash and encouraged disclosures — Cash not available for use by the group","QST.IAS7.000338":"Components of cash, restricted cash and encouraged disclosures — Cash not available for use by the group","QST.IAS7.000339":"Components of cash, restricted cash and encouraged disclosures — Cash not available for use by the group","QST.IAS7.000340":"Components of cash, restricted cash and encouraged disclosures — Cash not available for use by the group","QST.IAS7.000341":"Components of cash, restricted cash and encouraged disclosures — Cash not available for use by the group","QST.IAS7.000342":"Components of cash, restricted cash and encouraged disclosures — Cash not available for use by the group","QST.IAS7.000343":"Components of cash, restricted cash and encouraged disclosures — Cash not available for use by the group","QST.IAS7.000344":"Components of cash, restricted cash and encouraged disclosures — Cash not available for use by the group","QST.IAS7.000345":"Components of cash, restricted cash and encouraged disclosures — Cash not available for use by the group","QST.IAS7.000346":"Components of cash, restricted cash and encouraged disclosures — Cash not available for use by the group","QST.IAS7.000347":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000348":"Interest and dividends: present, classify, stay consistent — The rule: separate lines, a consistent classification","QST.IAS7.000349":"The indirect method: from profit to operating cash flow — The rule: three families of adjustments"}}