{"entries":[{"key":"LX.IAS8.000001","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.OBJECTIVE"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_OBJECTIVE_QUALITIES","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS8.000001","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"objective"},"references":["IAS 8 §1"],"exercise":{"prompt":{"fr":"","en":"One objective of IAS 8 is to enhance the comparability of an entity's financial statements over time.","es":""},"explanation":{"fr":"","en":"True: relevance, reliability and comparability over time and with other entities (IAS 8, para. 1, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Limiting IAS 8's objective to tax compliance or reliability alone: comparability over time is part of it.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000002","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.OBJECTIVE"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"GENERIC","tested_point":"IAS8_POLICY_DISCLOSURE_LOCATION","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS8.000001","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"objective"},"references":["IAS 8"],"exercise":{"prompt":{"fr":"","en":"An entity looks for the standard containing the disclosures on its accounting policies (other than changes). Which one, in the wording currently applicable?","es":""},"explanation":{"fr":"","en":"Disclosures on policies, other than changes, are in IAS 1 (IAS 8, para. 2; wording before IFRS 18).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"IAS 1","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"IAS 8","es":""},"correct":false,"feedback":{"fr":"","en":"IAS 8 only deals with disclosures on changes in policies.","es":""}},{"id":"C","text":{"fr":"","en":"IAS 10","es":""},"correct":false,"feedback":{"fr":"","en":"IAS 10 deals with events after the reporting period.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000003","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.OBJECTIVE"],"dimension":"RECOGNITION","format":"FILL_BLANK","context":"GENERIC","tested_point":"IAS8_OBJECTIVE_QUALITIES","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS8.000001","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"understand"},"references":["IAS 8 §1"],"exercise":{"prompt":{"fr":"","en":"Complete the summary of the IAS 8 objective.","es":""},"explanation":{"fr":"","en":"IAS 8 aims to enhance the relevance and reliability of financial statements and their comparability over time and with other entities; profitability, volume, confidentiality or conciseness are not objectives of the standard (IAS 8, para. 1, wording before IFRS 18).","es":""},"common_error":{"fr":"","en":"Choosing profitability or conciseness: the objective concerns qualities of information, relevance and comparability.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"IAS 8 aims to enhance the {{q1}} and reliability of financial statements, and their {{q2}} over time and with those of other entities.","es":""},"blanks":[{"id":"q1","mode":"CHOICE","choices":[{"id":"REL","text":{"fr":"","en":"relevance","es":""}},{"id":"PRO","text":{"fr":"","en":"profitability","es":""}},{"id":"VOL","text":{"fr":"","en":"volume","es":""}}],"answer":"REL"},{"id":"q2","mode":"CHOICE","choices":[{"id":"COMP","text":{"fr":"","en":"comparability","es":""}},{"id":"CONF","text":{"fr":"","en":"confidentiality","es":""}},{"id":"BRIEF","text":{"fr":"","en":"brevity","es":""}}],"answer":"COMP"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000004","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"RETAIL","tested_point":"IAS8_SCOPE_SORT","difficulty":"BEGINNER","estimated_time_s":90,"lesson_id":"LS.IAS8.000001","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §3"],"exercise":{"prompt":{"fr":"","en":"Alcenne, a fictitious chain of sports shops, lists year-end topics. Classify them.","es":""},"explanation":{"fr":"","en":"IAS 8 covers selection, changes in policies and estimates, and corrections of errors (IAS 8, para. 3); measuring provisions and leases belongs to other standards.","es":""},"common_error":{"fr":"","en":"Putting the measurement of a provision or a lease under IAS 8: they are measured under their own standard.","es":""},"format":"CLASSIFICATION","categories":[{"id":"IN","text":{"fr":"","en":"Falls under IAS 8","es":""}},{"id":"OUT","text":{"fr":"","en":"Falls under another standard","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Moving from weighted average cost to 'first-in, first-out'","es":""},"category":"IN"},{"id":"I2","text":{"fr":"","en":"Revising the useful life of the cash registers","es":""},"category":"IN"},{"id":"I3","text":{"fr":"","en":"Correcting an N−1 inventory counted twice","es":""},"category":"IN"},{"id":"I4","text":{"fr":"","en":"Calculating the amount of a litigation provision","es":""},"category":"OUT"},{"id":"I5","text":{"fr":"","en":"Accounting for the lease of a shop","es":""},"category":"OUT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000005","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"GENERIC","tested_point":"IAS8_SCOPE_SORT","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS8.000001","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §3"],"exercise":{"prompt":{"fr":"","en":"Which topics fall within the scope of IAS 8?","es":""},"explanation":{"fr":"","en":"IAS 8 covers selecting and applying accounting policies, changes in accounting policies and estimates, and corrections of prior-period errors. The date of authorisation for issue falls under IAS 10 (IAS 8, para. 3).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Selecting and applying accounting policies","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Changes in accounting estimates","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Corrections of prior period errors","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The date of authorisation for issue","es":""},"correct":false,"feedback":{"fr":"","en":"This topic belongs to IAS 10.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000006","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_TAX_EFFECT_ROUTE","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS8.000001","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"tax-effects"},"references":["IAS 8 §4"],"exercise":{"prompt":{"fr":"","en":"The tax effect of correcting a prior period error is recognised in the tax expense of the period of discovery.","es":""},"explanation":{"fr":"","en":"False: tax effects are dealt with under IAS 12 (IAS 8, para. 4) and follow the correction, charged to opening equity and comparatives.","es":""},"common_error":{"fr":"","en":"Treating the tax effect of the restatement as tax expense of the current period.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000007","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"CALCULATION","format":"CALCULATION","context":"MANUFACTURING","tested_point":"IAS8_TAX_EFFECT_CALC","difficulty":"BEGINNER","estimated_time_s":90,"lesson_id":"LS.IAS8.000001","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"numeric-example"},"references":["IAS 8 §4"],"exercise":{"prompt":{"fr":"","en":"Ardovine, a fictitious furniture maker, retrospectively corrects an inventory overstatement of 120,000. Case tax rate: 25%; the tax will be recovered through an amended return. Calculate.","es":""},"explanation":{"fr":"","en":"120,000 × 25% = 30,000; 120,000 − 30,000 = 90,000 (IAS 8, para. 4).","es":""},"common_error":{"fr":"","en":"Omitting the tax effect of a retrospective adjustment.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Gross adjustment","es":""},"value":"120000","unit":"EUR"},{"label":{"fr":"","en":"Tax rate","es":""},"value":"25","unit":"PERCENT"}],"steps":[{"id":"S1","label":{"fr":"","en":"Current tax asset","es":""},"answer":30000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Net decrease in equity","es":""},"answer":90000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Current tax asset","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Gross adjustment","es":""},"value":120000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Tax rate","es":""},"value":25,"unit":"PERCENT"}],"result":30000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Net decrease in equity","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Gross adjustment","es":""},"value":120000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Current tax asset","es":""},"value":30000,"unit":"EUR"}],"result":90000,"unit":"EUR"}],"references":["REF.IAS8.4"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000008","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"CALCULATION","format":"FILL_BLANK","context":"ENERGY","tested_point":"IAS8_TAX_EFFECT_CALC","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS8.000001","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"numeric-example"},"references":["IAS 8 §4"],"exercise":{"prompt":{"fr":"","en":"Complete the calculation of Baldoria, a fictitious solar energy producer, which applies a new policy retrospectively, increasing its assets by 200,000 (case tax rate 30%, temporary difference).","es":""},"explanation":{"fr":"","en":"200,000 × 30% = 60,000; 200,000 − 60,000 = 140,000 (IAS 8, para. 4).","es":""},"common_error":{"fr":"","en":"Taking the gross 200,000 increase to equity without recognising the deferred tax liability.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"Deferred tax liability: {{dtl}}; net increase in opening equity: {{net}}.","es":""},"blanks":[{"id":"dtl","mode":"NUMBER","answer":60000,"tolerance":0},{"id":"net","mode":"NUMBER","answer":140000,"tolerance":0}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000009","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"MANUFACTURING","tested_point":"IAS8_TAX_EFFECT_ENTRY","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS8.000001","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"entry"},"references":["IAS 8 §4"],"exercise":{"prompt":{"fr":"","en":"At 1/1/N Ardovine corrects an N−1 inventory overstatement of 120,000; the tax (25%) will be refunded. Record the entry.","es":""},"explanation":{"fr":"","en":"Inventories credited by 120,000; current tax asset 120,000 × 25% = 30,000; opening retained earnings debited with the net amount, 120,000 − 30,000 = 90,000. The tax effect follows IAS 12 along the same route (IAS 8, para. 4); nothing in N tax expense.","es":""},"common_error":{"fr":"","en":"Treating the tax effect of the restatement as tax expense of the current period.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"RE","text":{"fr":"","en":"Retained earnings","es":""}},{"id":"CTA","text":{"fr":"","en":"Current tax asset","es":""}},{"id":"INV","text":{"fr":"","en":"Inventories","es":""}},{"id":"TAXE","text":{"fr":"","en":"Tax expense for the period","es":""}}],"lines":[{"id":"L1","account":"RE","side":"DEBIT","amount":90000},{"id":"L2","account":"CTA","side":"DEBIT","amount":30000},{"id":"L3","account":"INV","side":"CREDIT","amount":120000}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000010","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"LOGISTICS","tested_point":"IAS8_TAX_EFFECT_ROUTE","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS8.000001","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"pitfalls"},"references":["IAS 8 §3","IAS 8 §4"],"exercise":{"prompt":{"fr":"","en":"Review the analysis by Borsella, a fictitious carrier, of a 80,000 restatement (rate 25%). Spot the errors.","es":""},"explanation":{"fr":"","en":"IAS 8 scope (para. 3); tax effect under IAS 12 along the same route (para. 4).","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"1. The restatement falls under IAS 8.","es":""},"erroneous":false},{"id":"S2","text":{"fr":"","en":"2. The tax effect of 20,000 is recorded as tax expense of N.","es":""},"erroneous":true,"correction":{"fr":"","en":"It follows the correction (opening equity, comparatives), under IAS 12 (IAS 8, para. 4).","es":""}},{"id":"S3","text":{"fr":"","en":"3. The net effect on equity is 80,000.","es":""},"erroneous":true,"correction":{"fr":"","en":"Net of tax: 80,000 − 20,000 = 60,000.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000011","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"APPLICATION","format":"ORDERING","context":"GENERIC","tested_point":"IAS8_ROUTING_ORDER","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000001","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"how"},"references":["IAS 8 §3","IAS 8 §4"],"exercise":{"prompt":{"fr":"","en":"Put in order the routing of a year-end situation.","es":""},"explanation":{"fr":"","en":"First identify the standard that governs measurement of the item, since IAS 8 does not deal with measurement; then classify the issue (selection, change in policy, change in estimate or error), apply the corresponding IAS 8 treatment, and compute the tax effect under IAS 12, recognised like the adjustment (IAS 8, paras. 3 and 4).","es":""},"common_error":{"fr":"","en":"Applying an IAS 8 treatment before classifying the issue, or computing tax before the adjustment.","es":""},"format":"ORDERING","steps":[{"id":"S1","text":{"fr":"","en":"Identify the standard governing the item's measurement","es":""}},{"id":"S2","text":{"fr":"","en":"Classify the topic: selection, change in policy, change in estimate or error","es":""}},{"id":"S3","text":{"fr":"","en":"Apply the corresponding IAS 8 treatment","es":""}},{"id":"S4","text":{"fr":"","en":"Calculate the tax effect under IAS 12 and route it like the adjustment","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000012","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"TECHNOLOGY","tested_point":"IAS8_TAX_EFFECT_JUDGMENT","difficulty":"EXPERT","estimated_time_s":240,"lesson_id":"LS.IAS8.000001","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"judgment"},"references":["IAS 8 §3","IAS 8 §4"],"exercise":{"prompt":{"fr":"","en":"Analyse the situation of Calvinor Tech, a fictitious software publisher.","es":""},"explanation":{"fr":"","en":"The tax effect does not always equal rate × adjustment: it follows from the tax facts and IAS 12 (IAS 8, para. 4).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"In N, the publisher discovers that N−1 costs of 400,000 were capitalised although the conditions were not met on the information available at the time. Case data: tax rate 25%; these costs had been deducted for tax in N−1 (so the tax base of the asset was nil) and the entity had not recognised the corresponding deferred tax liability.","es":""},"parts":[{"prompt":{"fr":"","en":"What is this?","es":""},"explanation":{"fr":"","en":"Available information ignored → error (IAS 8, paras. 3 and 5).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A prior period error within IAS 8","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"A change in estimate","es":""},"correct":false,"feedback":{"fr":"","en":"The information was available at the time.","es":""}}],"id":"P1","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"Calculate the net effect on equity (the asset is eliminated; there is no longer a temporary difference, no deferred tax was recognised).","es":""},"explanation":{"fr":"","en":"The costs having already been deducted for tax, no tax is recoverable: eliminating the asset reduces equity by 400,000; the tax effect (nil here) is analysed under IAS 12 (IAS 8, para. 4).","es":""},"common_error":{"fr":"","en":"Computing a deferred tax mechanically when the case's tax facts show none is recoverable.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Asset to eliminate","es":""},"value":"400000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Decrease in equity","es":""},"answer":400000,"tolerance":0,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION"},{"prompt":{"fr":"","en":"The file must explain why no tax effect is recognised, based on the tax facts of the case.","es":""},"explanation":{"fr":"","en":"True: the tax effect depends on the facts (deduction already obtained) and on IAS 12; it must be justified (IAS 8, para. 4).","es":""},"common_error":{"fr":"","en":"Leaving the absence of a tax effect unexplained: it follows from the tax facts and must be explained.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P3","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000013","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.DEFINITIONS.KEY_TERMS"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"MANUFACTURING","tested_point":"IAS8_POLICY_ESTIMATE_ERROR_SORT","difficulty":"BEGINNER","estimated_time_s":90,"lesson_id":"LS.IAS8.000002","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000002","section_id":"policies-and-estimates"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"Ebralis, a fictitious boiler manufacturer, lists items. Classify them.","es":""},"explanation":{"fr":"","en":"Rules → policies; uncertain amounts → estimates (IAS 8, para. 5).","es":""},"common_error":{"fr":"","en":"Classifying a quantified provision as a policy: an uncertain amount is an estimate; the measurement rule is the policy.","es":""},"format":"CLASSIFICATION","categories":[{"id":"POL","text":{"fr":"","en":"Accounting policy","es":""}},{"id":"EST","text":{"fr":"","en":"Accounting estimate","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Depreciating machines on a straight-line basis over their useful life","es":""},"category":"POL"},{"id":"I2","text":{"fr":"","en":"The warranty provision of 180,000 at 31/12/N","es":""},"category":"EST"},{"id":"I3","text":{"fr":"","en":"Measuring inventories at the lower of cost and net realisable value","es":""},"category":"POL"},{"id":"I4","text":{"fr":"","en":"The 25,000 write-down of a batch of obsolete parts","es":""},"category":"EST"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000014","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"GENERIC","tested_point":"IAS8_ERROR_CONDITIONS","difficulty":"BEGINNER","estimated_time_s":60,"lesson_id":"LS.IAS8.000002","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000002","section_id":"prior-period-errors"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"Which conditions characterise a prior period error?","es":""},"explanation":{"fr":"","en":"Definition of a prior period error (IAS 8, para. 5).","es":""},"common_error":{"fr":"","en":"Considering that information obtained after authorisation for issue makes prior statements erroneous.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Reliable information was not used or misused","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"It was available when the statements were authorised for issue","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"It could reasonably have been obtained","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"It was obtained after authorisation for issue","es":""},"correct":false,"feedback":{"fr":"","en":"Later information does not make the statements erroneous.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000015","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","format":"MATCHING","context":"GENERIC","tested_point":"IAS8_TECHNIQUE_MATCH","difficulty":"BEGINNER","estimated_time_s":75,"lesson_id":"LS.IAS8.000002","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000002","section_id":"retrospective-prospective"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"Match each situation with the corresponding technique.","es":""},"explanation":{"fr":"","en":"Policy → retrospective application; error → retrospective restatement; estimate → prospective (IAS 8, para. 5).","es":""},"common_error":{"fr":"","en":"Confusing retrospective application (policy) and retrospective restatement (error).","es":""},"format":"MATCHING","left":[{"id":"L1","text":{"fr":"","en":"Voluntary change in inventory cost formula","es":""}},{"id":"L2","text":{"fr":"","en":"Depreciation omitted, discovered the following year","es":""}},{"id":"L3","text":{"fr":"","en":"Revised useful life","es":""}}],"right":[{"id":"R2","text":{"fr":"","en":"Retrospective restatement","es":""}},{"id":"R3","text":{"fr":"","en":"Prospective application","es":""}},{"id":"R1","text":{"fr":"","en":"Retrospective application","es":""}}],"pairs":[{"left":"L1","right":"R1"},{"left":"L2","right":"R2"},{"left":"L3","right":"R3"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000016","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_IMPRACTICABLE_DEFINITION","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS8.000002","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000002","section_id":"impracticable"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"A restatement is impracticable as soon as it is costly to perform.","es":""},"explanation":{"fr":"","en":"False: impracticable = impossible after every reasonable effort, in one of the three situations provided for (IAS 8, para. 5).","es":""},"common_error":{"fr":"","en":"Invoking impracticability for mere high cost: impossibility after every reasonable effort is required.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000017","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.DEFINITIONS.KEY_TERMS"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"FOOD","tested_point":"IAS8_ERROR_CONDITIONS","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS8.000002","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000002","section_id":"prior-period-errors"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"Fennoria Foods, a fictitious cannery, learns in June N that a batch sold in N−1 was contaminated; the information comes from tests carried out in May N. The N−1 statements were authorised in March N. Do the N−1 statements contain an error?","es":""},"explanation":{"fr":"","en":"An error requires information available when the statements were authorised for issue (IAS 8, para. 5).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Yes, because the batch was sold in N−1","es":""},"correct":false,"feedback":{"fr":"","en":"What matters is whether the information was available at authorisation.","es":""}},{"id":"B","text":{"fr":"","en":"No: the information was not available when the statements were authorised for issue","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Yes, if the amount is material","es":""},"correct":false,"feedback":{"fr":"","en":"Materiality does not create the error.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000018","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.DEFINITIONS.KEY_TERMS"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"RETAIL","tested_point":"IAS8_POLICY_ESTIMATE_ERROR_SORT","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS8.000002","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000002","section_id":"example"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"Galvenne Retail, a fictitious retailer, examines changes. Classify them.","es":""},"explanation":{"fr":"","en":"Moving from cost to fair value changes the measurement basis: a change in policy. Lowering the returns rate or revising a useful life in light of new information changes uncertain amounts: changes in estimates. N−1 rebates not recorded although the signed agreements were on file reveal available information that was ignored: a prior-period error (IAS 8, para. 5).","es":""},"common_error":{"fr":"","en":"Classifying the unrecorded rebates as an estimate: the agreements were on file, so it is an error.","es":""},"format":"CLASSIFICATION","categories":[{"id":"POL","text":{"fr":"","en":"Change in policy","es":""}},{"id":"EST","text":{"fr":"","en":"Change in estimate","es":""}},{"id":"ERR","text":{"fr":"","en":"Prior period error","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Moving from cost to fair value for investment property","es":""},"category":"POL"},{"id":"I2","text":{"fr":"","en":"Return rate reduced from 4% to 3% in the light of N statistics","es":""},"category":"EST"},{"id":"I3","text":{"fr":"","en":"N−1 year-end rebates not recognised, the signed agreements being on file","es":""},"category":"ERR"},{"id":"I4","text":{"fr":"","en":"Revision of the useful life of illuminated signs","es":""},"category":"EST"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000019","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"GENERIC","tested_point":"IAS8_TECHNIQUE_MATCH","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS8.000002","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000002","section_id":"retrospective-prospective"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"Complete.","es":""},"explanation":{"fr":"","en":"Correcting the accounts as if the error had never occurred is retrospective restatement; applying a new policy as if it had always been applied is retrospective application. Prospective application only affects the current and future periods (IAS 8, para. 5).","es":""},"common_error":{"fr":"","en":"Swapping the two terms: restatement corrects an error; retrospective application concerns a policy.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"Correcting the statements as if the error had never occurred is called {{a}}; applying a new policy as if it had always been applied is called {{b}}.","es":""},"blanks":[{"id":"a","mode":"CHOICE","choices":[{"id":"RR","text":{"fr":"","en":"retrospective restatement","es":""}},{"id":"AP","text":{"fr":"","en":"prospective application","es":""}}],"answer":"RR"},{"id":"b","mode":"CHOICE","choices":[{"id":"AR","text":{"fr":"","en":"retrospective application","es":""}},{"id":"RR2","text":{"fr":"","en":"retrospective restatement","es":""}}],"answer":"AR"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000020","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.DEFINITIONS.KEY_TERMS"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"CONSTRUCTION","tested_point":"IAS8_ERROR_AVAILABLE_INFO","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IAS8.000002","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000002","section_id":"judgment"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"Analyse the situation of Hivane Bâtiment, a fictitious construction company.","es":""},"explanation":{"fr":"","en":"Reliable information, available at authorisation, reasonably obtainable and not used → error (IAS 8, para. 5).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"The N−1 statements were authorised on 15 March N. In September N, the company finds an engineer’s report dated 10 February N, left in a local branch, estimating defects on a site delivered in N−1 at 250,000. No provision had been recognised.","es":""},"parts":[{"prompt":{"fr":"","en":"The information was available when the N−1 statements were authorised for issue.","es":""},"explanation":{"fr":"","en":"True: the report is dated 10 February N, before authorisation on 15 March N (IAS 8, para. 5).","es":""},"common_error":{"fr":"","en":"Comparing the report with the reporting date: the test is the date the financial statements were authorised for issue.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P1","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"Conclusion?","es":""},"explanation":{"fr":"","en":"A report held by one of the entity's branches was reasonably obtainable (IAS 8, para. 5).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Prior period error: information available and reasonably obtainable, not used","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Change in estimate in N","es":""},"correct":false,"feedback":{"fr":"","en":"The information is not new: it existed and was held by the entity.","es":""}}],"id":"P2","dimension":"PROFESSIONAL_JUDGMENT"},{"prompt":{"fr":"","en":"The file must date the report, identify who held it and explain why it should have been taken into account.","es":""},"explanation":{"fr":"","en":"True: these elements support the classification as an error (IAS 8, para. 5).","es":""},"common_error":{"fr":"","en":"Concluding there is an error without establishing the date, the holder and why the information should have been used.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P3","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000021","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.DEFINITIONS.KEY_TERMS"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"GENERIC","tested_point":"IAS8_ERROR_CONDITIONS","difficulty":"ADVANCED","estimated_time_s":120,"lesson_id":"LS.IAS8.000002","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000002","section_id":"pitfalls"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"Review these statements by a trainee. Spot the errors.","es":""},"explanation":{"fr":"","en":"Statements 1 and 3 are wrong: an estimate revised thanks to new information is a change in estimate, not an error, and 'impracticable' means impossible after every reasonable effort, not merely costly. Statement 2 is correct: fraud can give rise to a prior-period error (IAS 8, para. 5).","es":""},"common_error":{"fr":"","en":"Calling the revision of an estimate based on new information an error.","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"1. An estimate revised thanks to new information is an error.","es":""},"erroneous":true,"correction":{"fr":"","en":"It is a change in estimate: the information is new (IAS 8, para. 5).","es":""}},{"id":"S2","text":{"fr":"","en":"2. A fraud discovered after publication can be a prior period error.","es":""},"erroneous":false},{"id":"S3","text":{"fr":"","en":"3. 'Impracticable' means 'costly'.","es":""},"erroneous":true,"correction":{"fr":"","en":"Impracticable = impossible after every reasonable effort (IAS 8, para. 5).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000022","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"RETAIL","tested_point":"IAS8_SPECIFIC_IFRS_APPLIES","difficulty":"BEGINNER","estimated_time_s":60,"lesson_id":"LS.IAS8.000003","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000003","section_id":"specific-ifrs"},"references":["IAS 8 §7"],"exercise":{"prompt":{"fr":"","en":"Iselmar, a fictitious distributor, wishes to account for its goods using its tax method, which differs from the standard on inventories. What does IAS 8 say?","es":""},"explanation":{"fr":"","en":"When an IFRS specifically applies to a transaction, the policy is determined by applying that IFRS: here the inventories standard (IAS 8, para. 7). Iselmar therefore has no choice, even if it documents its decision, and the tax method does not prevail.","es":""},"common_error":{"fr":"","en":"Freely choosing a policy although an IFRS specifically applies.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The policy is determined by the standard on inventories, which specifically addresses the transaction","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Iselmar may choose if it documents its choice","es":""},"correct":false,"feedback":{"fr":"","en":"No choice exists when an IFRS specifically applies.","es":""}},{"id":"C","text":{"fr":"","en":"The tax method prevails in case of divergence","es":""},"correct":false,"feedback":{"fr":"","en":"Tax does not determine the IFRS policy.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000023","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_SPECIFIC_IFRS_APPLIES","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS8.000003","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000003","section_id":"specific-ifrs"},"references":["IAS 8 §7"],"exercise":{"prompt":{"fr":"","en":"When an IFRS specifically applies to a transaction, the policy is determined by applying that IFRS.","es":""},"explanation":{"fr":"","en":"True: when an IFRS specifically applies to a transaction, event or condition, the accounting policy is determined by applying that IFRS; management does not choose another (IAS 8, para. 7).","es":""},"common_error":{"fr":"","en":"Preferring a simpler or tax-based policy when an IFRS specifically applies to the transaction.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000024","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"GENERIC","tested_point":"IAS8_GUIDANCE_STATUS","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS8.000003","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000003","section_id":"specific-ifrs"},"references":["IAS 8 §9"],"exercise":{"prompt":{"fr":"","en":"Guidance accompanies an IFRS without being an integral part of it. What is its status?","es":""},"explanation":{"fr":"","en":"Guidance integral to IFRSs → mandatory; other guidance → no requirements (IAS 8, para. 9).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It contains no requirements for financial statements","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"It is mandatory like the standard","es":""},"correct":false,"feedback":{"fr":"","en":"Only guidance that is an integral part of IFRSs is mandatory.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000025","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_IMMATERIAL_DEPARTURE_INTENT","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS8.000003","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000003","section_id":"materiality"},"references":["IAS 8 §8"],"exercise":{"prompt":{"fr":"","en":"A policy set out in IFRSs need not be applied when the effect of applying it is immaterial.","es":""},"explanation":{"fr":"","en":"True, unless the departure is deliberate to achieve a particular presentation (IAS 8, para. 8).","es":""},"common_error":{"fr":"","en":"Forgetting the limit: an immaterial departure is no longer acceptable if it aims at a particular presentation.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000026","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"ANALYSIS","format":"CLASSIFICATION","context":"TELECOM","tested_point":"IAS8_IMMATERIAL_DEPARTURE_INTENT","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IAS8.000003","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000003","section_id":"materiality"},"references":["IAS 8 §8"],"exercise":{"prompt":{"fr":"","en":"Jorvalis, a fictitious telecom operator, examines immaterial departures. Classify them.","es":""},"explanation":{"fr":"","en":"The materiality threshold never excuses a departure intended for a particular presentation (IAS 8, para. 8).","es":""},"common_error":{"fr":"","en":"Leaving a deliberate immaterial departure to smooth profit.","es":""},"format":"CLASSIFICATION","categories":[{"id":"OK","text":{"fr":"","en":"Acceptable","es":""}},{"id":"KO","text":{"fr":"","en":"Inappropriate","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Small equipment expensed, a consistent policy for ten years","es":""},"category":"OK"},{"id":"I2","text":{"fr":"","en":"Expense of 12,000 deferred to January to meet a covenant at 31/12","es":""},"category":"KO"},{"id":"I3","text":{"fr":"","en":"Departure deliberately left to show a round profit figure","es":""},"category":"KO"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000027","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"APPLICATION","format":"ORDERING","context":"GENERIC","tested_point":"IAS8_APPLYING_IFRS_STEPS","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000003","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000003","section_id":"how"},"references":["IAS 8 §7","IAS 8 §8"],"exercise":{"prompt":{"fr":"","en":"Put in order the determination of the policy for a transaction.","es":""},"explanation":{"fr":"","en":"Describe the transaction, then find the IFRS that applies to it and apply its policy (IAS 8, para. 7); a simplification is possible only if its effect is immaterial and it does not aim at a particular presentation, hence the two final checks (IAS 8, para. 8).","es":""},"common_error":{"fr":"","en":"Testing the simplification before identifying the applicable IFRS, or skipping the check on intent.","es":""},"format":"ORDERING","steps":[{"id":"S1","text":{"fr":"","en":"Describe the transaction","es":""}},{"id":"S2","text":{"fr":"","en":"Look for the IFRS that specifically addresses it and apply its policy","es":""}},{"id":"S3","text":{"fr":"","en":"Test the materiality of a simplification considered","es":""}},{"id":"S4","text":{"fr":"","en":"Check that no simplification targets a particular presentation","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000028","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"HOSPITALITY","tested_point":"IAS8_MATERIALITY_THRESHOLD_POLICY","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IAS8.000003","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000003","section_id":"example"},"references":["IAS 8 §8"],"exercise":{"prompt":{"fr":"","en":"Analyse the policy of Kendrel Hôtels, a fictitious hotel chain.","es":""},"explanation":{"fr":"","en":"The materiality threshold is a tolerance, not a profit management tool (IAS 8, para. 8).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Kendrel expenses linen and tableware (90,000 in N) instead of capitalising them; total assets 60,000,000, profit 4,500,000. In December N, the finance director proposes to extend the measure exceptionally to furniture purchases of 300,000, to bring profit just below the threshold triggering employee profit-sharing.","es":""},"parts":[{"prompt":{"fr":"","en":"The linen and tableware policy may be acceptable if its effect is immaterial.","es":""},"explanation":{"fr":"","en":"True: a policy set by IFRSs need not be applied when the effect is immaterial; the policy on linen and tableware can therefore be acceptable, provided it does not aim at a particular presentation (IAS 8, para. 8).","es":""},"common_error":{"fr":"","en":"Accepting the simplification without checking that it does not aim at a particular presentation.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P1","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"And the proposed extension to furniture?","es":""},"explanation":{"fr":"","en":"Immaterial departure made to achieve a particular presentation: inappropriate (IAS 8, para. 8).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Inappropriate: it targets a particular presentation of profit","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Acceptable if the amount remains immaterial","es":""},"correct":false,"feedback":{"fr":"","en":"The intent alone makes it inappropriate.","es":""}}],"id":"P2","dimension":"PROFESSIONAL_JUDGMENT"},{"prompt":{"fr":"","en":"The file must record the timing and the reason for the December proposal.","es":""},"explanation":{"fr":"","en":"True: these indicators establish intent (IAS 8, para. 8).","es":""},"common_error":{"fr":"","en":"Ignoring the timing and motive: they are what reveal the intent behind the proposal.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P3","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000029","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"GENERIC","tested_point":"IAS8_SPECIFIC_IFRS_APPLIES","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS8.000003","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000003","section_id":"pitfalls"},"references":["IAS 8 §7","IAS 8 §8","IAS 8 §9"],"exercise":{"prompt":{"fr":"","en":"Spot the erroneous statements.","es":""},"explanation":{"fr":"","en":"Statements 1 and 3 are wrong: when an IFRS applies to the transaction, the policy is determined by that IFRS (IAS 8, para. 7), unless the effect is immaterial (para. 8); and an immaterial departure is not acceptable if it aims at a particular presentation (para. 8). Statement 2 is correct: guidance that is not an integral part of an IFRS does not impose requirements (para. 9).","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"1. An IFRS addresses the transaction: management may nevertheless prefer another simpler policy.","es":""},"erroneous":true,"correction":{"fr":"","en":"The policy is determined by that IFRS (IAS 8, para. 7), unless the effect is immaterial (para. 8).","es":""}},{"id":"S2","text":{"fr":"","en":"2. Guidance that is not an integral part of an IFRS imposes no requirements on financial statements.","es":""},"erroneous":false},{"id":"S3","text":{"fr":"","en":"3. An immaterial departure is always acceptable.","es":""},"erroneous":true,"correction":{"fr":"","en":"Not if it targets a particular presentation (IAS 8, para. 8).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000030","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"APPLICATION","format":"MULTIPLE_CHOICE","context":"AUTOMOTIVE","tested_point":"IAS8_IMMATERIAL_DEPARTURE_INTENT","difficulty":"EXPERT","estimated_time_s":120,"lesson_id":"LS.IAS8.000003","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000003","section_id":"materiality"},"references":["IAS 8 §8"],"exercise":{"prompt":{"fr":"","en":"Lombrisa Auto, a fictitious car dealer, leaves several small departures uncorrected. Which indicate an intent to steer the presentation?","es":""},"explanation":{"fr":"","en":"Intent is inferred from indicators (timing, repetition, thresholds) (IAS 8, para. 8).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Decision taken on 30 December, just below a covenant threshold","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Departures repeated each year in the same direction","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Simplification decided five years ago and applied consistently","es":""},"correct":false,"feedback":{"fr":"","en":"A consistent simplification decided upfront does not indicate intent.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000031","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_HIERARCHY_QUALITIES","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS8.000004","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"objective-of-judgement"},"references":["IAS 8 §10"],"exercise":{"prompt":{"fr":"","en":"In the absence of an applicable IFRS, management may adopt the policy that maximises profit, provided it is applied consistently.","es":""},"explanation":{"fr":"","en":"False: the policy must result in relevant and reliable information, in particular neutral (IAS 8, para. 10).","es":""},"common_error":{"fr":"","en":"Believing consistency is enough: a policy chosen to maximise profit is not neutral.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000032","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"GENERIC","tested_point":"IAS8_HIERARCHY_ORDER","difficulty":"BEGINNER","estimated_time_s":60,"lesson_id":"LS.IAS8.000004","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"sources-order"},"references":["IAS 8 §11"],"exercise":{"prompt":{"fr":"","en":"In the absence of a specific IFRS, which source does management consult first?","es":""},"explanation":{"fr":"","en":"Order: similar or related IFRSs, then the Conceptual Framework (IAS 8, para. 11).","es":""},"common_error":{"fr":"","en":"Applying a standard from another framework before examining similar IFRSs and the Conceptual Framework.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"IFRSs dealing with similar and related issues","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Accepted industry practices","es":""},"correct":false,"feedback":{"fr":"","en":"Additional source, only without conflict with the mandatory sources.","es":""}},{"id":"C","text":{"fr":"","en":"Another standard-setter's standards","es":""},"correct":false,"feedback":{"fr":"","en":"Additional source (IAS 8, para. 12).","es":""}},{"id":"D","text":{"fr":"","en":"The Conceptual Framework","es":""},"correct":false,"feedback":{"fr":"","en":"It comes second.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000033","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"RULE_KNOWLEDGE","format":"ORDERING","context":"GENERIC","tested_point":"IAS8_HIERARCHY_ORDER","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000004","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"sources-order"},"references":["IAS 8 §11","IAS 8 §12"],"exercise":{"prompt":{"fr":"","en":"Put the sources in the order of consultation.","es":""},"explanation":{"fr":"","en":"IAS 8, para. 11 (mandatory order) and para. 12 (optional complements).","es":""},"common_error":{"fr":"","en":"Placing industry practice or other standard-setters before the Conceptual Framework: they are only supplementary sources.","es":""},"format":"ORDERING","steps":[{"id":"S1","text":{"fr":"","en":"IFRSs dealing with similar and related issues","es":""}},{"id":"S2","text":{"fr":"","en":"Definitions, recognition criteria and measurement concepts of the Conceptual Framework","es":""}},{"id":"S3","text":{"fr":"","en":"Recent pronouncements of other standard-setters, literature, industry practice, without conflict","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000034","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"RULE_KNOWLEDGE","format":"MATCHING","context":"GENERIC","tested_point":"IAS8_HIERARCHY_QUALITIES","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000004","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"objective-of-judgement"},"references":["IAS 8 §10"],"exercise":{"prompt":{"fr":"","en":"Match each required quality with its control question.","es":""},"explanation":{"fr":"","en":"Qualities of a policy developed by management (IAS 8, para. 10).","es":""},"common_error":{"fr":"","en":"Confusing neutrality with completeness: neutrality is freedom from bias, completeness the absence of material omissions.","es":""},"format":"MATCHING","left":[{"id":"L1","text":{"fr":"","en":"Substance","es":""}},{"id":"L2","text":{"fr":"","en":"Neutrality","es":""}},{"id":"L3","text":{"fr":"","en":"Completeness","es":""}},{"id":"L4","text":{"fr":"","en":"Relevance","es":""}}],"right":[{"id":"R2","text":{"fr":"","en":"Was it chosen to obtain a desired result?","es":""}},{"id":"R3","text":{"fr":"","en":"Is a material item omitted?","es":""}},{"id":"R4","text":{"fr":"","en":"Does it serve users' economic decisions?","es":""}},{"id":"R1","text":{"fr":"","en":"Does it reflect economic reality beyond the contract?","es":""}}],"pairs":[{"left":"L1","right":"R1"},{"left":"L2","right":"R2"},{"left":"L3","right":"R3"},{"left":"L4","right":"R4"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000035","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"AGRICULTURE","tested_point":"IAS8_OTHER_SOURCES_CONFLICT","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS8.000004","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"other-sources"},"references":["IAS 8 §12"],"exercise":{"prompt":{"fr":"","en":"Mordessa, a fictitious farming cooperative, considers applying a practice of its sector that recognises as assets expenditure not meeting the Conceptual Framework definition of an asset. May it do so?","es":""},"explanation":{"fr":"","en":"The sources in para. 12 may only be used if they do not conflict with those in para. 11 (IAS 8, para. 12).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Yes, industry practice prevails","es":""},"correct":false,"feedback":{"fr":"","en":"Industry practices are subordinate to para. 11.","es":""}},{"id":"B","text":{"fr":"","en":"No: an additional source cannot contradict the Conceptual Framework","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Yes, if the auditors accept it","es":""},"correct":false,"feedback":{"fr":"","en":"That is not the standard's criterion.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000036","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"ANALYSIS","format":"SINGLE_CHOICE","context":"FINANCE","tested_point":"IAS8_HIERARCHY_SUBSTANCE","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS8.000004","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"objective-of-judgement"},"references":["IAS 8 §10"],"exercise":{"prompt":{"fr":"","en":"Nalvane, a fictitious company, enters into a contract legally called a \"service\" that in substance transfers control of an asset to it. No IFRS addresses the case (teaching assumption). Which IAS 8 requirement guides the analysis?","es":""},"explanation":{"fr":"","en":"Reliable information reflects economic substance (IAS 8, para. 10).","es":""},"common_error":{"fr":"","en":"Adopting a policy that favours legal form over economic substance.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Reflect economic substance and not merely legal form","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Follow the legal classification of the contract","es":""},"correct":false,"feedback":{"fr":"","en":"Legal form alone is not enough.","es":""}},{"id":"C","text":{"fr":"","en":"Adopt the tax treatment","es":""},"correct":false,"feedback":{"fr":"","en":"Tax is not part of the hierarchy.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000037","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"DOCUMENTATION","format":"MULTIPLE_CHOICE","context":"GENERIC","tested_point":"IAS8_HIERARCHY_DOCUMENTATION","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000004","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"how"},"references":["IAS 8 §10","IAS 8 §11","IAS 8 §12"],"exercise":{"prompt":{"fr":"","en":"What should the file of a policy developed in the absence of an IFRS contain?","es":""},"explanation":{"fr":"","en":"The hierarchy judgement must be traceable (IAS 8, paras. 10 to 12).","es":""},"common_error":{"fr":"","en":"Not documenting the sources consulted and the reasoning followed.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Confirmation that no IFRS addresses the transaction","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The similar IFRSs examined and why they can or cannot be transposed","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The check of the qualities: relevance, reliability, substance, neutrality, prudence, completeness","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The effect of each option on variable remuneration","es":""},"correct":false,"feedback":{"fr":"","en":"This is not a criterion: neutrality excludes it.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000038","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"TECHNOLOGY","tested_point":"IAS8_HIERARCHY_CASE","difficulty":"EXPERT","estimated_time_s":300,"lesson_id":"LS.IAS8.000004","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"example"},"references":["IAS 8 §10","IAS 8 §11","IAS 8 §12"],"exercise":{"prompt":{"fr":"","en":"Analyse the approach of Obrelle, a fictitious digital services platform.","es":""},"explanation":{"fr":"","en":"The hierarchy frames judgement without removing it (IAS 8, paras. 10 to 12).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Obrelle holds digital tokens that can be used to pay for a partner's services. Teaching assumption: management concluded, after a documented analysis, that no IFRS specifically addresses these tokens. The controller proposes to apply a national framework standard directly; the finance director first wants to examine neighbouring IFRSs.","es":""},"parts":[{"prompt":{"fr":"","en":"Who is right about the approach?","es":""},"explanation":{"fr":"","en":"The finance director is right: without a specific IFRS, management first considers IFRSs dealing with similar issues, then the Conceptual Framework (IAS 8, para. 11). A national GAAP is only a supplementary source, usable only without conflict with those sources (IAS 8, para. 12).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The finance director: similar IFRSs, then the Conceptual Framework","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The controller: the national framework is more precise","es":""},"correct":false,"feedback":{"fr":"","en":"Another framework is only an additional source, without conflict.","es":""}}],"id":"P1","dimension":"APPLICATION"},{"prompt":{"fr":"","en":"If the analysis leads to two supportable policies, IAS 8 designates the one to adopt.","es":""},"explanation":{"fr":"","en":"False: IAS 8 requires a relevant, reliable policy derived from the hierarchy; the choice between supportable policies remains a documented judgement (IAS 8, para. 10).","es":""},"common_error":{"fr":"","en":"Expecting the standard to choose between two defensible policies: that choice remains a documented judgement.","es":""},"format":"TRUE_FALSE","answer":false,"id":"P2","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"Order Obrelle's policy file.","es":""},"explanation":{"fr":"","en":"Without a specific IFRS, management develops a policy that results in relevant and reliable information (IAS 8, para. 10): the file first analyses the substance of the tokens, then examines IFRSs dealing with similar issues, then tests the solution against the Conceptual Framework, in the order of the sources (IAS 8, para. 11), before concluding and checking the qualities of the policy chosen.","es":""},"common_error":{"fr":"","en":"Starting from the Conceptual Framework or the conclusion before analysing substance and similar IFRSs.","es":""},"format":"ORDERING","steps":[{"id":"S1","text":{"fr":"","en":"Analysis of the substance of the tokens","es":""}},{"id":"S2","text":{"fr":"","en":"Review of similar IFRSs","es":""}},{"id":"S3","text":{"fr":"","en":"Testing against the Conceptual Framework","es":""}},{"id":"S4","text":{"fr":"","en":"Conclusion and qualities checked","es":""}}],"id":"P3","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000039","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"GENERIC","tested_point":"IAS8_HIERARCHY_ORDER","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS8.000004","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"pitfalls"},"references":["IAS 8 §10","IAS 8 §11","IAS 8 §12"],"exercise":{"prompt":{"fr":"","en":"Review this internal memo on a transaction not covered by IFRSs. Spot the errors.","es":""},"explanation":{"fr":"","en":"Statement 1 complies: one starts with IFRSs dealing with similar issues. Statement 2 is wrong: the Conceptual Framework is the second mandatory source and cannot be skipped in favour of a competitor's practice (IAS 8, paras. 11 and 12). Statement 3 is wrong: choosing the policy that increases profit is contrary to neutrality (IAS 8, para. 10).","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"1. We first looked for IFRSs dealing with similar issues.","es":""},"erroneous":false},{"id":"S2","text":{"fr":"","en":"2. Lacking an analogy, we directly applied a competitor's practice, without examining the Conceptual Framework.","es":""},"erroneous":true,"correction":{"fr":"","en":"The Conceptual Framework is the second mandatory source (IAS 8, para. 11).","es":""}},{"id":"S3","text":{"fr":"","en":"3. Among the possible policies, we chose the one that increases profit.","es":""},"erroneous":true,"correction":{"fr":"","en":"Criterion contrary to neutrality (IAS 8, para. 10).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000040","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"GENERIC","tested_point":"IAS8_OTHER_SOURCES_CONFLICT","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000004","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"other-sources"},"references":["IAS 8 §11","IAS 8 §12"],"exercise":{"prompt":{"fr":"","en":"Classify these sources.","es":""},"explanation":{"fr":"","en":"IFRSs dealing with related issues and the Conceptual Framework definitions are the mandatory sources, in that order (IAS 8, para. 11); pronouncements of other standard-setters and industry practice are only optional supplements, usable without conflict with them (IAS 8, para. 12).","es":""},"common_error":{"fr":"","en":"Listing another standard-setter or industry practice among mandatory sources: they are optional and must not conflict.","es":""},"format":"CLASSIFICATION","categories":[{"id":"MAND","text":{"fr":"","en":"Mandatory source (para. 11 order)","es":""}},{"id":"OPT","text":{"fr":"","en":"Optional additional source (para. 12)","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"IFRS dealing with a related issue","es":""},"category":"MAND"},{"id":"I2","text":{"fr":"","en":"Definition of a liability in the Conceptual Framework","es":""},"category":"MAND"},{"id":"I3","text":{"fr":"","en":"Recent pronouncement of another standard-setter with a similar framework","es":""},"category":"OPT"},{"id":"I4","text":{"fr":"","en":"Accepted industry practice","es":""},"category":"OPT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000041","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"PROFESSIONAL_JUDGMENT","format":"TRUE_FALSE","context":"ENERGY","tested_point":"IAS8_HIERARCHY_ANALOGY","difficulty":"EXPERT","estimated_time_s":120,"lesson_id":"LS.IAS8.000004","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"judgment"},"references":["IAS 8 §10","IAS 8 §11"],"exercise":{"prompt":{"fr":"","en":"To apply a neighbouring IFRS by analogy, one must show that the transaction shares its essential features and flag the differences that might justify another treatment.","es":""},"explanation":{"fr":"","en":"True: the analogy is a documented judgement serving relevant and reliable information (IAS 8, paras. 10 and 11).","es":""},"common_error":{"fr":"","en":"Applying a neighbouring IFRS on mere resemblance, without showing shared features or flagging differences.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000042","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.CONSISTENCY"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_CONSISTENCY_RULE","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS8.000005","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000005","section_id":"consistency-rule"},"references":["IAS 8 §13"],"exercise":{"prompt":{"fr":"","en":"An entity applies its policies consistently for similar transactions, events and conditions.","es":""},"explanation":{"fr":"","en":"True: an entity selects and applies its accounting policies consistently for similar transactions, other events and conditions, unless an IFRS requires or permits categorisation (IAS 8, para. 13).","es":""},"common_error":{"fr":"","en":"Applying different policies to similar transactions by site or convenience.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000043","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.CONSISTENCY"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"TEXTILE","tested_point":"IAS8_CONSISTENCY_RULE","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000005","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000005","section_id":"consistency-rule"},"references":["IAS 8 §13"],"exercise":{"prompt":{"fr":"","en":"Palvane, a fictitious textile group, finds that two subsidiaries measure identical fabric rolls, one at weighted average cost, the other on a 'first-in, first-out' basis. The applicable standard provides for no category. What should be done?","es":""},"explanation":{"fr":"","en":"Similar items → same policy (IAS 8, para. 13).","es":""},"common_error":{"fr":"","en":"Applying different policies to inventories of the same nature without a permitted category.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Harmonise: a single policy for these similar items","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Keep both policies, each subsidiary being autonomous","es":""},"correct":false,"feedback":{"fr":"","en":"Subsidiary autonomy does not create a category.","es":""}},{"id":"C","text":{"fr":"","en":"Use the policy that gives the highest inventory","es":""},"correct":false,"feedback":{"fr":"","en":"The choice must be consistent and neutral.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000044","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.CONSISTENCY"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"GENERIC","tested_point":"IAS8_CATEGORIES","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS8.000005","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000005","section_id":"categories"},"references":["IAS 8 §13"],"exercise":{"prompt":{"fr":"","en":"Complete the rule.","es":""},"explanation":{"fr":"","en":"When an IFRS requires or permits categorisation of items for which different policies may be appropriate, an appropriate policy is selected and applied consistently to each category (IAS 8, para. 13).","es":""},"common_error":{"fr":"","en":"Believing categorisation allows free choice within a category: the policy is applied consistently within it.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"When an IFRS requires or permits {{a}} of items for which different policies may be appropriate, an appropriate policy is applied {{b}} to each category.","es":""},"blanks":[{"id":"a","mode":"CHOICE","choices":[{"id":"CAT","text":{"fr":"","en":"categorisation","es":""}},{"id":"NET","text":{"fr":"","en":"offsetting","es":""}}],"answer":"CAT"},{"id":"b","mode":"CHOICE","choices":[{"id":"CONS","text":{"fr":"","en":"consistently","es":""}},{"id":"FREE","text":{"fr":"","en":"freely","es":""}}],"answer":"CONS"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000045","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.CONSISTENCY"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"REAL_ESTATE","tested_point":"IAS8_CATEGORIES","difficulty":"ADVANCED","estimated_time_s":120,"lesson_id":"LS.IAS8.000005","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000005","section_id":"categories"},"references":["IAS 8 §13"],"exercise":{"prompt":{"fr":"","en":"Quarvelle, a fictitious property company, presents its analysis. Spot the errors.","es":""},"explanation":{"fr":"","en":"Statement 1 complies: one policy per category permitted by the standard. Statement 2 is wrong: consistency is required within each category, and smoothing profit is not a reason. Statement 3 is wrong: a category must be required or permitted by an IFRS; the entity cannot create one to change policy (IAS 8, para. 13).","es":""},"common_error":{"fr":"","en":"Believing a permitted categorisation removes the need to apply the policy consistently within the category.","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"1. The applicable standard permits different policies for two categories of assets: we adopt one per category.","es":""},"erroneous":false},{"id":"S2","text":{"fr":"","en":"2. Within the same category, we switch policies asset by asset to smooth profit.","es":""},"erroneous":true,"correction":{"fr":"","en":"Consistency is required within each category (IAS 8, para. 13).","es":""}},{"id":"S3","text":{"fr":"","en":"3. We created a \"category\" for buildings bought after 2020 to apply another policy to them.","es":""},"erroneous":true,"correction":{"fr":"","en":"The category must be required or permitted by an IFRS (IAS 8, para. 13).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000046","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.CONSISTENCY"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"MANUFACTURING","tested_point":"IAS8_CONSISTENCY_RULE","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS8.000005","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000005","section_id":"example"},"references":["IAS 8 §13"],"exercise":{"prompt":{"fr":"","en":"Rennoria, a fictitious industrial group, lists its practices. Classify them.","es":""},"explanation":{"fr":"","en":"Similar items → same policy; different items → possibly different policies (IAS 8, para. 13).","es":""},"common_error":{"fr":"","en":"Tolerating two cost formulas for the same material by plant: similar items require the same policy.","es":""},"format":"CLASSIFICATION","categories":[{"id":"OK","text":{"fr":"","en":"Compliant","es":""}},{"id":"KO","text":{"fr":"","en":"Inconsistency to correct","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Same cost formula for the same components in all plants","es":""},"category":"OK"},{"id":"I2","text":{"fr":"","en":"Different depreciation methods for buildings and robots","es":""},"category":"OK"},{"id":"I3","text":{"fr":"","en":"Two cost formulas for the same raw material depending on the plant","es":""},"category":"KO"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000047","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.CONSISTENCY"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MULTIPLE_CHOICE","context":"RETAIL","tested_point":"IAS8_CONSISTENCY_SIMILARITY","difficulty":"EXPERT","estimated_time_s":120,"lesson_id":"LS.IAS8.000005","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000005","section_id":"judgment"},"references":["IAS 8 §13"],"exercise":{"prompt":{"fr":"","en":"To judge whether two inventories are 'similar', what should Salvenne, a fictitious distributor, analyse and document?","es":""},"explanation":{"fr":"","en":"Similarity is assessed in the light of nature, use and the applicable standard (IAS 8, para. 13).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The nature of the items","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Their use within the entity","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The applicable standard and the categories it provides","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The effect of each policy on profit","es":""},"correct":false,"feedback":{"fr":"","en":"The effect on profit is not a similarity criterion.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000048","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"GENERIC","tested_point":"IAS8_CHANGE_PERMITTED","difficulty":"BEGINNER","estimated_time_s":60,"lesson_id":"LS.IAS8.000006","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"permitted-changes"},"references":["IAS 8 §14"],"exercise":{"prompt":{"fr":"","en":"In which cases may an entity change an accounting policy?","es":""},"explanation":{"fr":"","en":"A change in policy is permitted only if required by an IFRS or if it results in reliable and more relevant information. Improving profit in a difficult year or aligning with the tax return, without a gain in relevance, are not grounds (IAS 8, para. 14).","es":""},"common_error":{"fr":"","en":"Considering a change in policy to be free once it is documented.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The change is required by an IFRS","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"It provides reliable and more relevant information","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"It improves profit in a difficult year","es":""},"correct":false,"feedback":{"fr":"","en":"The effect on profit is not a reason.","es":""}},{"id":"D","text":{"fr":"","en":"It aligns the accounts with the tax return","es":""},"correct":false,"feedback":{"fr":"","en":"Without a gain in relevance, it is not a reason.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000049","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"FOOD","tested_point":"IAS8_CHANGE_PERMITTED","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS8.000006","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"permitted-changes"},"references":["IAS 8 §14"],"exercise":{"prompt":{"fr":"","en":"Perlisse, a fictitious industrial cheese maker, wants to move to weighted average cost for cheeses matured in shared cellars, because this formula better reflects the physical mixing of batches; its competitors use it. Is the change permitted?","es":""},"explanation":{"fr":"","en":"Voluntary change permitted if it provides reliable and more relevant information (IAS 8, para. 14); the demonstration is a judgement of the entity.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Yes, if Perlisse demonstrates reliable and more relevant information: it is a voluntary change","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"No, a voluntary change is prohibited","es":""},"correct":false,"feedback":{"fr":"","en":"It is permitted if it improves relevance without loss of reliability.","es":""}},{"id":"C","text":{"fr":"","en":"Yes, without further condition, because competitors use it","es":""},"correct":false,"feedback":{"fr":"","en":"The argument helps, but the demonstration is still required.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000050","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"GENERIC","tested_point":"IAS8_NOT_A_CHANGE","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS8.000006","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"not-a-change"},"references":["IAS 8 §16"],"exercise":{"prompt":{"fr":"","en":"Change in policy or not?","es":""},"explanation":{"fr":"","en":"Transactions different in substance, new or previously immaterial → no change in policy (IAS 8, para. 16).","es":""},"common_error":{"fr":"","en":"Treating as a change in policy the application of a policy to a new category of transactions.","es":""},"format":"CLASSIFICATION","categories":[{"id":"YES","text":{"fr":"","en":"Change in policy","es":""}},{"id":"NO","text":{"fr":"","en":"Not a change in policy","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"First application of a policy to leases, previously non-existent","es":""},"category":"NO"},{"id":"I2","text":{"fr":"","en":"Policy applied to a transaction different in substance from earlier ones","es":""},"category":"NO"},{"id":"I3","text":{"fr":"","en":"Move from cost to fair value for a category of existing assets","es":""},"category":"YES"},{"id":"I4","text":{"fr":"","en":"New policy for grants that were previously immaterial","es":""},"category":"NO"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000051","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"APPLICATION","format":"TRUE_FALSE","context":"TELECOM","tested_point":"IAS8_NOT_A_CHANGE","difficulty":"ADVANCED","estimated_time_s":90,"lesson_id":"LS.IAS8.000006","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"not-a-change"},"references":["IAS 8 §16"],"exercise":{"prompt":{"fr":"","en":"Tamvelle, a fictitious operator, signs its first contracts to build antennas for third parties and applies a revenue recognition policy to them: it must apply this policy retrospectively as a change in policy.","es":""},"explanation":{"fr":"","en":"False: applying a policy to transactions that did not occur previously is not a change in policy (IAS 8, para. 16).","es":""},"common_error":{"fr":"","en":"Seeing a change in policy in a new activity: applying a policy to new transactions is not one.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000052","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"REAL_ESTATE","tested_point":"IAS8_REVALUATION_EXCEPTION","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IAS8.000006","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"revaluation-exception"},"references":["IAS 8 §17"],"exercise":{"prompt":{"fr":"","en":"Terzane adopts the revaluation model for its buildings (IAS 16) for the first time. How is this change dealt with?","es":""},"explanation":{"fr":"","en":"First adopting the revaluation model is a change in policy, but by exception it is dealt with as a revaluation under IAS 16, not under IAS 8: no retrospective application with restated comparatives, and it is not a change in estimate (IAS 8, para. 17).","es":""},"common_error":{"fr":"","en":"Applying retrospectively the first adoption of the revaluation model under IAS 16.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As a revaluation under IAS 16, not under IAS 8","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"By retrospective application with restated comparatives","es":""},"correct":false,"feedback":{"fr":"","en":"Exception provided in para. 17.","es":""}},{"id":"C","text":{"fr":"","en":"As a change in estimate","es":""},"correct":false,"feedback":{"fr":"","en":"It is a change in policy, dealt with under IAS 16.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000053","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"CALCULATION","format":"CALCULATION","context":"ENERGY","tested_point":"IAS8_COST_FORMULA_DIFFERENCE","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IAS8.000006","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"numeric-example"},"references":["IAS 8 §14"],"exercise":{"prompt":{"fr":"","en":"Ulvaria, a fictitious heating-oil trader, is considering moving from 'first-in, first-out' to weighted average cost. No opening inventory. Purchases: 10,000 litres at 0.80, then 30,000 litres at 1.00. Closing inventory: 8,000 litres. Calculate.","es":""},"explanation":{"fr":"","en":"FIFO: 8,000 × 1.00 = 8,000. Average: (8,000 + 30,000) / 40,000 = 0.95; 8,000 × 0.95 = 7,600. Difference 400. Quantifying measures what is at stake; permission depends on para. 14.","es":""},"common_error":{"fr":"","en":"Computing the average cost on the second batch only, or valuing FIFO inventory at the first price of 0.80.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Purchase 1","es":""},"value":"10000 × 0.80","unit":"UNITS"},{"label":{"fr":"","en":"Purchase 2","es":""},"value":"30000 × 1.00","unit":"UNITS"},{"label":{"fr":"","en":"Litres in inventory","es":""},"value":"8000","unit":"UNITS"}],"steps":[{"id":"S1","label":{"fr":"","en":"Closing inventory FIFO","es":""},"answer":8000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Closing inventory weighted average","es":""},"answer":7600,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Difference","es":""},"answer":400,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Closing inventory FIFO","es":""},"expression":"a * 1","variables":[{"symbol":"a","meaning":{"fr":"","en":"Litres in inventory","es":""},"value":8000,"unit":"UNITS"}],"result":8000,"unit":"EUR"}],"references":["REF.IAS8.14"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000054","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"CALCULATION","format":"FILL_BLANK","context":"RETAIL","tested_point":"IAS8_COST_FORMULA_DIFFERENCE","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS8.000006","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"numeric-example"},"references":["IAS 8 §14"],"exercise":{"prompt":{"fr":"","en":"Valmoria, a fictitious distributor, has the following data: no opening inventory; purchases 2,000 units at 15 then 2,000 units at 25; 3,000 units sold. Complete.","es":""},"explanation":{"fr":"","en":"Total 80,000; FIFO: closing inventory 1,000 × 25 = 25,000 → cost of sales 55,000. Average 20: inventory 20,000 → cost of sales 60,000 (IAS 8, para. 14 for whether the change is permitted).","es":""},"common_error":{"fr":"","en":"Computing FIFO cost of sales at the latest prices: under FIFO, the units sold are the oldest first.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"FIFO cost of sales: {{fifo}}; weighted average cost of sales: {{wac}}.","es":""},"blanks":[{"id":"fifo","mode":"NUMBER","answer":55000,"tolerance":0},{"id":"wac","mode":"NUMBER","answer":60000,"tolerance":0}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000055","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"APPLICATION","format":"ORDERING","context":"GENERIC","tested_point":"IAS8_CHANGE_TEST_ORDER","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000006","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"how"},"references":["IAS 8 §14","IAS 8 §16","IAS 8 §17"],"exercise":{"prompt":{"fr":"","en":"Put in order the test of a proposed change in policy.","es":""},"explanation":{"fr":"","en":"First check that it is a change in rule and not an excluded situation such as a new transaction (IAS 8, para. 16), then whether it is the first adoption of a revaluation model, dealt with separately (para. 17); next, whether an IFRS requires the change; only failing that must reliable and more relevant information be demonstrated (para. 14).","es":""},"common_error":{"fr":"","en":"Trying to show greater relevance before ruling out excluded situations and checking whether an IFRS requires the change.","es":""},"format":"ORDERING","steps":[{"id":"S1","text":{"fr":"","en":"Check that it is a change of rule and not an excluded situation","es":""}},{"id":"S2","text":{"fr":"","en":"Check whether it is the first adoption of a revaluation model","es":""}},{"id":"S3","text":{"fr":"","en":"Check whether an IFRS requires the change","es":""}},{"id":"S4","text":{"fr":"","en":"Otherwise, demonstrate reliable and more relevant information","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000056","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"GENERIC","tested_point":"IAS8_CHANGE_PERMITTED","difficulty":"ADVANCED","estimated_time_s":120,"lesson_id":"LS.IAS8.000006","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"pitfalls"},"references":["IAS 8 §14","IAS 8 §17"],"exercise":{"prompt":{"fr":"","en":"Review management's case for changing a policy. Spot the errors.","es":""},"explanation":{"fr":"","en":"Statement 1 is wrong: the effect on profit is not a reason; the test is reliable and more relevant information (IAS 8, para. 14). Statement 2 complies: it shows better relevance through a study. Statement 3 is wrong: first adoption of the revaluation model is dealt with as a revaluation under IAS 16, without restating N−1 under IAS 8 (IAS 8, para. 17).","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"1. The change will increase profit by 300,000, which justifies it.","es":""},"erroneous":true,"correction":{"fr":"","en":"The criterion is reliable and more relevant information (IAS 8, para. 14).","es":""}},{"id":"S2","text":{"fr":"","en":"2. The new policy better reflects the actual consumption of the assets, as the attached study shows.","es":""},"erroneous":false},{"id":"S3","text":{"fr":"","en":"3. We are adopting the land revaluation model for the first time and therefore restate N−1.","es":""},"erroneous":true,"correction":{"fr":"","en":"Dealt with as a revaluation under IAS 16, without restatement under IAS 8 (IAS 8, para. 17).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000057","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"LOGISTICS","tested_point":"IAS8_MORE_RELEVANT_JUDGMENT","difficulty":"EXPERT","estimated_time_s":240,"lesson_id":"LS.IAS8.000006","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"judgment"},"references":["IAS 8 §14"],"exercise":{"prompt":{"fr":"","en":"Analyse the plan of Vesperol, a fictitious logistics company.","es":""},"explanation":{"fr":"","en":"A voluntary change is demonstrated by the relevance and reliability of information (IAS 8, para. 14).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Vesperol wants to change its policy for presenting certain transport costs. Arguments put forward: (a) better reading of margin by activity, requested by analysts; (b) alignment with the main competitors; (c) increase in reported operating profit; (d) N−1 and N data available and audited.","es":""},"parts":[{"prompt":{"fr":"","en":"Which arguments are acceptable under the 'reliable and more relevant' criterion?","es":""},"explanation":{"fr":"","en":"Greater relevance (a, b) and reliability (d); the effect on profit (c) is not a criterion (IAS 8, para. 14).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"(a) better reading of margin","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"(b) alignment with the sector","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"(c) increase in reported profit","es":""},"correct":false,"feedback":{"fr":"","en":"Effect on profit: not acceptable.","es":""}},{"id":"D","text":{"fr":"","en":"(d) reliable data available","es":""},"correct":true}],"id":"P1","dimension":"PROFESSIONAL_JUDGMENT"},{"prompt":{"fr":"","en":"The file must contain the comparison of the two policies and approval by governance.","es":""},"explanation":{"fr":"","en":"True: good practice for documenting the judgement (IAS 8, para. 14).","es":""},"common_error":{"fr":"","en":"Merely asserting greater relevance without a documented comparison of both policies or approval.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P2","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000058","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_REVALUATION_EXCEPTION","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS8.000006","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"revaluation-exception"},"references":["IAS 8 §17"],"exercise":{"prompt":{"fr":"","en":"The initial application of a revaluation model under IAS 38 is a change in policy, dealt with as a revaluation under IAS 38.","es":""},"explanation":{"fr":"","en":"True: first applying a revaluation model is a change in policy, but it is dealt with as a revaluation under IAS 16 or IAS 38, not under IAS 8; for an intangible asset, that is IAS 38 (IAS 8, para. 17).","es":""},"common_error":{"fr":"","en":"Applying IAS 8 and restating comparatives: first application of the revaluation model follows IAS 38.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000059","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.APPLYING"],"dimension":"RULE_KNOWLEDGE","format":"MATCHING","context":"GENERIC","tested_point":"IAS8_TRANSITION_ROUTE","difficulty":"BEGINNER","estimated_time_s":75,"lesson_id":"LS.IAS8.000007","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000007","section_id":"transitional-provisions"},"references":["IAS 8 §19"],"exercise":{"prompt":{"fr":"","en":"Match each origin of change with its method of application.","es":""},"explanation":{"fr":"","en":"A new IFRS is applied under its transitional provisions when it has any; otherwise it is applied retrospectively, like a voluntary change, which follows the same rule (IAS 8, para. 19).","es":""},"common_error":{"fr":"","en":"Applying general retrospective application when the new IFRS has its own transitional provisions.","es":""},"format":"MATCHING","left":[{"id":"L1","text":{"fr":"","en":"New IFRS with transitional provisions","es":""}},{"id":"L2","text":{"fr":"","en":"New IFRS without transitional provisions","es":""}},{"id":"L3","text":{"fr":"","en":"Voluntary change","es":""}}],"right":[{"id":"R2","text":{"fr":"","en":"Retrospective application","es":""}},{"id":"R3","text":{"fr":"","en":"Retrospective application (same rule)","es":""}},{"id":"R1","text":{"fr":"","en":"Those transitional provisions","es":""}}],"pairs":[{"left":"L1","right":"R1"},{"left":"L2","right":"R2"},{"left":"L3","right":"R3"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000060","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.APPLYING"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"TECHNOLOGY","tested_point":"IAS8_TRANSITION_ROUTE","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000007","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000007","section_id":"transitional-provisions"},"references":["IAS 8 §19"],"exercise":{"prompt":{"fr":"","en":"Wendris, a fictitious software publisher, applies for the first time a new IFRS that provides for application from the date of initial application, without restating comparatives. What does Wendris do?","es":""},"explanation":{"fr":"","en":"Wendris follows the new IFRS's transitional provisions: when a standard sets its own transition, it takes precedence over IAS 8's general retrospective application; restating N−1 anyway would contradict the standard (IAS 8, para. 19).","es":""},"common_error":{"fr":"","en":"Ignoring the specific transitional provisions of a new IFRS in favour of general retrospective application.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It follows those transitional provisions","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"It restates N−1 anyway under IAS 8","es":""},"correct":false,"feedback":{"fr":"","en":"The standard's transitional provisions prevail.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000061","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.APPLYING"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"GENERIC","tested_point":"IAS8_EARLY_APPLICATION","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS8.000007","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000007","section_id":"early-application"},"references":["IAS 8 §20"],"exercise":{"prompt":{"fr":"","en":"An entity applies an IFRS one year before its effective date. How is this change classified?","es":""},"explanation":{"fr":"","en":"Applying an IFRS early is still an initial application of an IFRS: it is not a voluntary change (IAS 8, para. 20). Nor is it a change in estimate, since it is the policy that changes.","es":""},"common_error":{"fr":"","en":"Calling early application of an IFRS a voluntary change.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As initial application of an IFRS, which is not a voluntary change","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"As a voluntary change","es":""},"correct":false,"feedback":{"fr":"","en":"Early application is not a voluntary change.","es":""}},{"id":"C","text":{"fr":"","en":"As a change in estimate","es":""},"correct":false,"feedback":{"fr":"","en":"It is indeed a change in policy.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000062","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.APPLYING"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"MANUFACTURING","tested_point":"IAS8_TRANSITION_ROUTE","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS8.000007","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000007","section_id":"example"},"references":["IAS 8 §19","IAS 8 §20"],"exercise":{"prompt":{"fr":"","en":"Yselmar, a fictitious manufacturer, lists its N changes. Classify them by method of application.","es":""},"explanation":{"fr":"","en":"A standard with transitional provisions is applied under them, including when applied early, which is not a voluntary change (IAS 8, paras. 19 and 20). A change decided by management, or a standard without transitional provisions, is applied retrospectively (IAS 8, para. 19).","es":""},"common_error":{"fr":"","en":"Applying IAS 8 to a standard that sets its own transition, even when applied early.","es":""},"format":"CLASSIFICATION","categories":[{"id":"TRANS","text":{"fr":"","en":"The standard's transitional provisions","es":""}},{"id":"RETRO","text":{"fr":"","en":"Retrospective application (IAS 8)","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Standard mandatory in N with a simplified transition","es":""},"category":"TRANS"},{"id":"I2","text":{"fr":"","en":"Standard mandatory in N+1 applied from N, with its own transition","es":""},"category":"TRANS"},{"id":"I3","text":{"fr":"","en":"Change decided by management for more relevant information","es":""},"category":"RETRO"},{"id":"I4","text":{"fr":"","en":"Standard mandatory in N without transitional provisions","es":""},"category":"RETRO"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000063","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.APPLYING"],"dimension":"APPLICATION","format":"ORDERING","context":"GENERIC","tested_point":"IAS8_TRANSITION_ROUTE","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000007","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000007","section_id":"how"},"references":["IAS 8 §19","IAS 8 §20"],"exercise":{"prompt":{"fr":"","en":"Put in order the choice of the method of application.","es":""},"explanation":{"fr":"","en":"First identify the origin of the change; for an IFRS, read its transitional provisions; failing that, or for a voluntary change, apply retrospectively (IAS 8, paras. 19 and 20); finally, check whether impracticability limits that application.","es":""},"common_error":{"fr":"","en":"Applying retrospectively before reading the transitional provisions, or forgetting the impracticability limits.","es":""},"format":"ORDERING","steps":[{"id":"S1","text":{"fr":"","en":"Identify the origin of the change (IFRS or decision of the entity)","es":""}},{"id":"S2","text":{"fr":"","en":"For an IFRS, read its transitional provisions","es":""}},{"id":"S3","text":{"fr":"","en":"Otherwise, or for a voluntary change, apply retrospectively","es":""}},{"id":"S4","text":{"fr":"","en":"Check the impracticability limits","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000064","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.APPLYING"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"GENERIC","tested_point":"IAS8_TRANSITION_ROUTE","difficulty":"ADVANCED","estimated_time_s":120,"lesson_id":"LS.IAS8.000007","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000007","section_id":"pitfalls"},"references":["IAS 8 §19","IAS 8 §20"],"exercise":{"prompt":{"fr":"","en":"Spot the errors in this transition memo.","es":""},"explanation":{"fr":"","en":"Statements 1 and 2 are wrong: when the new standard sets a transition, its provisions apply (IAS 8, para. 19), and early application is not a voluntary change (IAS 8, para. 20). Statement 3 complies: a voluntary change is applied retrospectively (IAS 8, para. 19).","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"1. The new standard provides a simplified transition, but we apply full IAS 8 retrospective application.","es":""},"erroneous":true,"correction":{"fr":"","en":"The standard's transitional provisions apply (IAS 8, para. 19).","es":""}},{"id":"S2","text":{"fr":"","en":"2. Our early application is treated as a voluntary change.","es":""},"erroneous":true,"correction":{"fr":"","en":"Early application is not a voluntary change (IAS 8, para. 20).","es":""}},{"id":"S3","text":{"fr":"","en":"3. Our voluntary change in cost formula is applied retrospectively.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000065","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.APPLYING"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_TRANSITION_ROUTE","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS8.000007","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000007","section_id":"transitional-provisions"},"references":["IAS 8 §19"],"exercise":{"prompt":{"fr":"","en":"A voluntary change in policy is applied retrospectively.","es":""},"explanation":{"fr":"","en":"True (IAS 8, para. 19), subject to the impracticability limits.","es":""},"common_error":{"fr":"","en":"Applying a voluntary change prospectively for convenience: the rule is retrospective, unless impracticable.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000066","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.APPLYING"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"FINANCE","tested_point":"IAS8_REQUIRED_OR_VOLUNTARY","difficulty":"EXPERT","estimated_time_s":180,"lesson_id":"LS.IAS8.000007","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000007","section_id":"judgment"},"references":["IAS 8 §19","IAS 8 §20"],"exercise":{"prompt":{"fr":"","en":"Analyse the changes at Zelborne, a fictitious finance company.","es":""},"explanation":{"fr":"","en":"The origin of the change determines its method of application (IAS 8, paras. 19 and 20).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"In N, Zelborne (a) applies a standard mandatory in N that leaves a transition option; (b) in N+2, without any new standard, switches option within that same standard for a presentation considered more relevant.","es":""},"parts":[{"prompt":{"fr":"","en":"Change (a): method of application?","es":""},"explanation":{"fr":"","en":"Change (a) arises from initially applying a standard mandatory in N that sets its own transition, with an option: those transitional provisions apply, not general retrospective application (IAS 8, para. 19).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The standard's transitional provisions","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"General retrospective application","es":""},"correct":false,"feedback":{"fr":"","en":"The standard provides its transition.","es":""}}],"id":"P1","dimension":"APPLICATION"},{"prompt":{"fr":"","en":"Change (b): classification?","es":""},"explanation":{"fr":"","en":"Without a new standard, it is a decision of the entity: voluntary change (IAS 8, paras. 14 and 19).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Voluntary change, applied retrospectively, provided relevance increases","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Initial application of an IFRS","es":""},"correct":false,"feedback":{"fr":"","en":"No new standard is applied in N+2.","es":""}}],"id":"P2","dimension":"PROFESSIONAL_JUDGMENT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000067","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_RETRO_OPENING_PERIOD","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS8.000008","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"retrospective-rule"},"references":["IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"Under retrospective application, the cumulative effect of periods before the earliest period presented adjusts the opening equity of that earliest period.","es":""},"explanation":{"fr":"","en":"True: under retrospective application, the cumulative effect for periods before the earliest period presented adjusts that period's opening equity, and comparatives are presented as if the new policy had always applied (IAS 8, para. 22).","es":""},"common_error":{"fr":"","en":"Charging the cumulative effect to profit of the period of change instead of opening equity.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000068","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"GENERIC","tested_point":"IAS8_RETRO_NOT_PROFIT","difficulty":"BEGINNER","estimated_time_s":60,"lesson_id":"LS.IAS8.000008","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"retrospective-rule"},"references":["IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"Where does the cumulative effect of a voluntary change in policy never appear?","es":""},"explanation":{"fr":"","en":"The cumulative effect of a voluntary change never appears in profit or loss of the period of change: it adjusts opening equity of the earliest period presented and the comparatives are restated (IAS 8, para. 22).","es":""},"common_error":{"fr":"","en":"Recognising the cumulative effect of the change in policy in profit or loss of the period.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"In profit or loss of the period of the change","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"In opening equity of the earliest period presented","es":""},"correct":false,"feedback":{"fr":"","en":"This is precisely where it goes.","es":""}},{"id":"C","text":{"fr":"","en":"In the restated comparatives","es":""},"correct":false,"feedback":{"fr":"","en":"Comparatives are restated.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000069","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"CALCULATION","format":"CALCULATION","context":"MANUFACTURING","tested_point":"IAS8_RETRO_CALC","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IAS8.000008","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"numeric-example"},"references":["IAS 8 §4","IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"Abrivel Industrie, a fictitious manufacturer, changes its inventory cost formula in N (comparative N−1). Difference new − old formula: −50,000 at 31/12/N−2, −70,000 at 31/12/N−1. Tax rate 25%, temporary difference (case data). Calculate.","es":""},"explanation":{"fr":"","en":"Opening: 50,000 × 75% = 37,500. N−1: 20,000 cost of sales, 5,000 deferred tax income, −15,000 net. Deferred tax: 70,000 × 25% = 17,500 (IAS 8, paras. 4 and 22).","es":""},"common_error":{"fr":"","en":"Adjusting opening equity of the current period instead of the earliest period presented.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Difference at 31/12/N−2","es":""},"value":"-50000","unit":"EUR"},{"label":{"fr":"","en":"Difference at 31/12/N−1","es":""},"value":"-70000","unit":"EUR"},{"label":{"fr":"","en":"Rate","es":""},"value":"25","unit":"PERCENT"}],"steps":[{"id":"S1","label":{"fr":"","en":"Decrease in retained earnings at 1/1/N−1","es":""},"answer":37500,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Increase in N−1 cost of sales","es":""},"answer":20000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Decrease in N−1 profit","es":""},"answer":15000,"tolerance":0,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Deferred tax asset at 31/12/N−1","es":""},"answer":17500,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000070","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"CALCULATION","format":"FILL_BLANK","context":"RETAIL","tested_point":"IAS8_RETRO_CALC","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IAS8.000008","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"numeric-example"},"references":["IAS 8 §4","IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"Belvanne Distribution, fictitious, changes policy in N (comparative N−1); the difference increases an asset by 40,000 at 31/12/N−2 and by 64,000 at 31/12/N−1; rate 25%, temporary difference. Complete.","es":""},"explanation":{"fr":"","en":"40,000 × 75% = 30,000; (64,000 − 40,000) × 75% = 18,000; 64,000 × 25% = 16,000 (IAS 8, paras. 4 and 22).","es":""},"common_error":{"fr":"","en":"Using the gross difference without tax, or attributing the cumulative 64,000 to N−1 instead of its change only.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"Increase in retained earnings at 1/1/N−1: {{a}}; increase in restated N−1 profit: {{b}}; deferred tax liability at 31/12/N−1: {{c}}.","es":""},"blanks":[{"id":"a","mode":"NUMBER","answer":30000,"tolerance":0},{"id":"b","mode":"NUMBER","answer":18000,"tolerance":0},{"id":"c","mode":"NUMBER","answer":16000,"tolerance":0}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000071","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"MANUFACTURING","tested_point":"IAS8_RETRO_ENTRY","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS8.000008","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"entry"},"references":["IAS 8 §4","IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"Abrivel Industrie (previous exercise) records at 1/1/N the cumulative effect of its change: inventory −70,000; rate 25%, temporary difference. Record the entry.","es":""},"explanation":{"fr":"","en":"Net effect 52,500 in opening retained earnings; deferred tax asset 17,500 (IAS 8, paras. 4 and 22).","es":""},"common_error":{"fr":"","en":"Recognising the cumulative effect of the change in policy in profit or loss.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"RE","text":{"fr":"","en":"Retained earnings","es":""}},{"id":"DTA","text":{"fr":"","en":"Deferred tax asset","es":""}},{"id":"INV","text":{"fr":"","en":"Inventories","es":""}},{"id":"PL","text":{"fr":"","en":"Expense of the current period","es":""}}],"lines":[{"id":"L1","account":"RE","side":"DEBIT","amount":52500},{"id":"L2","account":"DTA","side":"DEBIT","amount":17500},{"id":"L3","account":"INV","side":"CREDIT","amount":70000}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000072","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"RETAIL","tested_point":"IAS8_RETRO_ENTRY","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS8.000008","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"entry"},"references":["IAS 8 §4","IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"Belvanne Distribution records at 1/1/N the cumulative effect of its change: asset (inventories) +64,000; rate 25%, temporary difference. Record the entry.","es":""},"explanation":{"fr":"","en":"Inventories +64,000; deferred tax liability 16,000; opening retained earnings +48,000 (IAS 8, paras. 4 and 22).","es":""},"common_error":{"fr":"","en":"Crediting N profit for the cumulative effect: it goes to opening retained earnings, net of deferred tax.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"INV","text":{"fr":"","en":"Inventories","es":""}},{"id":"DTL","text":{"fr":"","en":"Deferred tax liability","es":""}},{"id":"RE","text":{"fr":"","en":"Retained earnings","es":""}},{"id":"REV","text":{"fr":"","en":"Income of the current period","es":""}}],"lines":[{"id":"L1","account":"INV","side":"DEBIT","amount":64000},{"id":"L2","account":"DTL","side":"CREDIT","amount":16000},{"id":"L3","account":"RE","side":"CREDIT","amount":48000}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000073","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"CALCULATION","format":"CALCULATION","context":"GENERIC","tested_point":"IAS8_RESTATEMENT_TABLE","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IAS8.000008","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"numeric-example"},"references":["IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"Restatement table for the N−1 income statement: cost of sales as published 3,000,000, adjustment +30,000; tax expense as published 200,000, adjustment −7,500; profit as published 600,000. Calculate the restated amounts.","es":""},"explanation":{"fr":"","en":"Cost of sales: 3,000,000 + 30,000 = 3,030,000; tax expense: 200,000 − 7,500 = 192,500; profit: 600,000 − 30,000 + 7,500 = 577,500 (IAS 8, para. 22).","es":""},"common_error":{"fr":"","en":"Adding the tax adjustment instead of deducting it, or forgetting that higher cost of sales reduces profit.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Cost of sales as published","es":""},"value":"3000000","unit":"EUR"},{"label":{"fr":"","en":"Cost of sales adjustment","es":""},"value":"30000","unit":"EUR"},{"label":{"fr":"","en":"Tax expense as published","es":""},"value":"200000","unit":"EUR"},{"label":{"fr":"","en":"Tax adjustment","es":""},"value":"-7500","unit":"EUR"},{"label":{"fr":"","en":"Profit as published","es":""},"value":"600000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Restated cost of sales","es":""},"answer":3030000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Restated tax expense","es":""},"answer":192500,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Restated profit","es":""},"answer":577500,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Restated cost of sales","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cost of sales as published","es":""},"value":3000000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Cost of sales adjustment","es":""},"value":30000,"unit":"EUR"}],"result":3030000,"unit":"EUR"}],"references":["REF.IAS8.22"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000074","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"APPLICATION","format":"ORDERING","context":"GENERIC","tested_point":"IAS8_RETRO_STEPS","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000008","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"how"},"references":["IAS 8 §4","IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"Put in order the steps of retrospective application.","es":""},"explanation":{"fr":"","en":"First recompute balances under the new policy at each relevant date, then compute the differences and their tax effect under IAS 12; next split between opening equity and comparatives, before presenting the reported / adjustment / restated table and booking the entry (IAS 8, paras. 4 and 22).","es":""},"common_error":{"fr":"","en":"Computing the tax effect before the differences, or booking the entry before splitting between opening equity and comparatives.","es":""},"format":"ORDERING","steps":[{"id":"S1","text":{"fr":"","en":"Recalculate balances under the new policy at each relevant date","es":""}},{"id":"S2","text":{"fr":"","en":"Calculate the new − old differences","es":""}},{"id":"S3","text":{"fr":"","en":"Calculate the tax effect under IAS 12","es":""}},{"id":"S4","text":{"fr":"","en":"Allocate between opening equity and comparatives","es":""}},{"id":"S5","text":{"fr":"","en":"Present the as published / adjustment / restated table and record the entry","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000075","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"GENERIC","tested_point":"IAS8_RETRO_IMPLEMENTATION_ERRORS","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS8.000008","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"pitfalls"},"references":["IAS 8 §4","IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"Review the implementation of a voluntary change (comparative N−1). Spot the errors.","es":""},"explanation":{"fr":"","en":"Statements 1 and 2 are wrong: the cumulative effect goes to opening equity and the comparatives, not to N expenses, and comparative amounts are adjusted rather than shown as previously reported (IAS 8, para. 22). Statement 3 complies: the tax effect follows IAS 12 at the case rate (IAS 8, para. 4).","es":""},"common_error":{"fr":"","en":"Not restating comparative amounts.","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"1. The cumulative effect of 90,000 is recorded in \"other expenses\" of N.","es":""},"erroneous":true,"correction":{"fr":"","en":"It goes to opening equity and the comparatives (IAS 8, para. 22).","es":""}},{"id":"S2","text":{"fr":"","en":"2. The N−1 comparative is presented as published last year.","es":""},"erroneous":true,"correction":{"fr":"","en":"Comparative amounts are adjusted (IAS 8, para. 22).","es":""}},{"id":"S3","text":{"fr":"","en":"3. The tax effect is calculated under IAS 12 with the case rate.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000076","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"GENERIC","tested_point":"IAS8_RETRO_OPENING_PERIOD","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000008","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"retrospective-rule"},"references":["IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"The N statements present two comparative years (N−1 and N−2). Which opening equity balance receives the earlier cumulative effect?","es":""},"explanation":{"fr":"","en":"Opening balance of the earliest prior period presented (IAS 8, para. 22).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"That of N−2, the earliest period presented","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"That of N−1","es":""},"correct":false,"feedback":{"fr":"","en":"N−2 is also presented: it is the earliest period.","es":""}},{"id":"C","text":{"fr":"","en":"That of N","es":""},"correct":false,"feedback":{"fr":"","en":"N is not the earliest period presented.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000077","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"GENERIC","tested_point":"IAS8_RETRO_CONCEPT","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS8.000008","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"understand"},"references":["IAS 8 §5","IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"Complete.","es":""},"explanation":{"fr":"","en":"Retrospective application means applying the new policy as if it had always been applied (IAS 8, para. 5); the cumulative effect therefore adjusts opening equity and comparatives, and profit of the period of change does not include it (IAS 8, para. 22).","es":""},"common_error":{"fr":"","en":"Thinking the cumulative effect goes through profit of the period of change: it is excluded from it.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"Retrospective application means applying a new policy as if it had {{a}} been applied; profit or loss of the period of the change {{b}} the cumulative effect.","es":""},"blanks":[{"id":"a","mode":"CHOICE","choices":[{"id":"ALW","text":{"fr":"","en":"always","es":""}},{"id":"NEV","text":{"fr":"","en":"never","es":""}}],"answer":"ALW"},{"id":"b","mode":"CHOICE","choices":[{"id":"EXC","text":{"fr":"","en":"does not include","es":""}},{"id":"INC","text":{"fr":"","en":"includes","es":""}}],"answer":"EXC"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000078","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"ANALYSIS","format":"MINI_CASE","context":"FOOD","tested_point":"IAS8_RETRO_CASE","difficulty":"EXPERT","estimated_time_s":300,"lesson_id":"LS.IAS8.000008","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"judgment"},"references":["IAS 8 §4","IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"Restate the change at Carmesse, a fictitious biscuit maker.","es":""},"explanation":{"fr":"","en":"Opening balance of the earliest period presented, restated comparatives, tax under IAS 12 (IAS 8, paras. 4 and 22).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"In N, Carmesse voluntarily changes its policy for including certain costs in the cost of inventories (justification considered acceptable). Comparative presented: N−1. Tax rate 25%, the tax base does not follow the change (temporary difference), deferred tax asset recoverable (case data).","es":""},"parts":[{"prompt":{"fr":"","en":"Inventories: old policy 500,000 (31/12/N−2) and 620,000 (31/12/N−1); new 460,000 and 590,000. Calculate.","es":""},"explanation":{"fr":"","en":"Opening: 40,000 × 75% = 30,000. The difference falls by 10,000 in N−1: cost of sales −10,000, tax +2,500, profit +7,500 (IAS 8, paras. 4 and 22).","es":""},"common_error":{"fr":"","en":"Charging the cumulative 30,000 difference to N−1 profit: only its 10,000 movement in N−1, net of tax, belongs there.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Difference at 31/12/N−2","es":""},"value":"-40000","unit":"EUR"},{"label":{"fr":"","en":"Difference at 31/12/N−1","es":""},"value":"-30000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Net decrease in equity at 1/1/N−1","es":""},"answer":30000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Increase in restated N−1 profit","es":""},"answer":7500,"tolerance":0,"unit":"EUR"}],"id":"P1","dimension":"CALCULATION"},{"prompt":{"fr":"","en":"Record the entry at 1/1/N (cumulative difference −30,000).","es":""},"explanation":{"fr":"","en":"Retained earnings −22,500 (= −30,000 + 7,500), deferred tax asset 7,500 (IAS 8, paras. 4 and 22).","es":""},"common_error":{"fr":"","en":"Debiting retained earnings with the gross 30,000 without recognising the deferred tax asset.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"RE","text":{"fr":"","en":"Retained earnings","es":""}},{"id":"DTA","text":{"fr":"","en":"Deferred tax asset","es":""}},{"id":"INV","text":{"fr":"","en":"Inventories","es":""}},{"id":"PL","text":{"fr":"","en":"Expense of the current period","es":""}}],"lines":[{"id":"L1","account":"RE","side":"DEBIT","amount":22500},{"id":"L2","account":"DTA","side":"DEBIT","amount":7500},{"id":"L3","account":"INV","side":"CREDIT","amount":30000}],"id":"P2","dimension":"JOURNAL_ENTRY"},{"prompt":{"fr":"","en":"Profit for N includes income of 7,500 arising from the change.","es":""},"explanation":{"fr":"","en":"False: the 7,500 improves restated N−1 profit; N profit does not include the effect of the change on past periods (IAS 8, para. 22).","es":""},"common_error":{"fr":"","en":"Recognising the effect of past periods in N profit: it goes to restated N−1 profit and opening equity.","es":""},"format":"TRUE_FALSE","answer":false,"id":"P3","dimension":"ANALYSIS"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000079","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"APPLICATION","format":"TRUE_FALSE","context":"TECHNOLOGY","tested_point":"IAS8_RETRO_NOT_PROFIT","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000008","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"pitfalls"},"references":["IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"An entity that changes policy in N and does not restate N−1, but puts the cumulative effect in closing equity of N, applies IAS 8 correctly.","es":""},"explanation":{"fr":"","en":"False: the opening balance of the earliest period presented and the comparatives are adjusted (IAS 8, para. 22).","es":""},"common_error":{"fr":"","en":"Taking the cumulative effect to closing equity without restating the comparative: the opening balance of the earliest period presented must be adjusted.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000080","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"DOCUMENTATION","format":"MATCHING","context":"LOGISTICS","tested_point":"IAS8_RESTATEMENT_TABLE","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS8.000008","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"numeric-example"},"references":["IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"Match each column of the restatement table with its content.","es":""},"explanation":{"fr":"","en":"The table documents the adjustment of comparatives (IAS 8, para. 22).","es":""},"common_error":{"fr":"","en":"Confusing 'reported' and 'restated': reported is the old amount; restated is the comparative shown this year.","es":""},"format":"MATCHING","left":[{"id":"L1","text":{"fr":"","en":"As published","es":""}},{"id":"L2","text":{"fr":"","en":"Adjustment","es":""}},{"id":"L3","text":{"fr":"","en":"Restated","es":""}}],"right":[{"id":"R2","text":{"fr":"","en":"Effect of the new policy on the line item","es":""}},{"id":"R3","text":{"fr":"","en":"Comparative amount presented this year","es":""}},{"id":"R1","text":{"fr":"","en":"Amount presented last year under the old policy","es":""}}],"pairs":[{"left":"L1","right":"R1"},{"left":"L2","right":"R2"},{"left":"L3","right":"R3"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000081","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"GENERIC","tested_point":"IAS8_RETRO_TAX","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS8.000008","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"retrospective-rule"},"references":["IAS 8 §4","IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"Which items of the financial statements does retrospective application change?","es":""},"explanation":{"fr":"","en":"Retrospective application changes opening equity of the earliest period presented, the comparative amounts and the related tax balances under IAS 12 (IAS 8, paras. 4 and 22). It puts no cumulative effect in profit or loss of the period of change.","es":""},"common_error":{"fr":"","en":"Omitting the tax effect of a retrospective adjustment.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Opening equity of the earliest period presented","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Comparative amounts of the periods presented","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The tax balances concerned, under IAS 12","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Profit or loss of the period of the change, for the cumulative effect","es":""},"correct":false,"feedback":{"fr":"","en":"No cumulative effect in profit or loss of the period.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000082","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.LIMITATIONS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_LIMITS_PRINCIPLE","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS8.000009","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000009","section_id":"principle"},"references":["IAS 8 §23"],"exercise":{"prompt":{"fr":"","en":"When retrospective application is required, it applies except to the extent that it is impracticable to determine the period-specific effects or the cumulative effect.","es":""},"explanation":{"fr":"","en":"True: required retrospective application applies, except to the extent that it is impracticable to determine the period-specific effects or the cumulative effect of the change; the limit applies only to what is impracticable (IAS 8, para. 23).","es":""},"common_error":{"fr":"","en":"Abandoning all retrospection as soon as an effect is hard to obtain: only impracticability limits application, and only to that extent.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000083","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.LIMITATIONS"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"MANUFACTURING","tested_point":"IAS8_LIMITS_EARLIEST_PERIOD","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS8.000009","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000009","section_id":"period-specific"},"references":["IAS 8 §24"],"exercise":{"prompt":{"fr":"","en":"Hastrel Cycles, a fictitious manufacturer, presents N−1 as a comparative; its data only allow balances to be recalculated at 1/1/N. What does it do?","es":""},"explanation":{"fr":"","en":"Hastrel applies the new policy to carrying amounts at 1/1/N, the earliest practicable period, and adjusts opening equity of N (IAS 8, para. 24). Deferring the change is not provided for, and estimating N−1 with N data would be prohibited hindsight (IAS 8, para. 53).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It applies the new policy to carrying amounts at 1/1/N and adjusts opening equity of N","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"It postpones the change to N+1","es":""},"correct":false,"feedback":{"fr":"","en":"The change applies from the earliest practicable period.","es":""}},{"id":"C","text":{"fr":"","en":"It estimates N−1 using N data","es":""},"correct":false,"feedback":{"fr":"","en":"Hindsight is prohibited.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000084","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.LIMITATIONS"],"dimension":"CALCULATION","format":"CALCULATION","context":"TEXTILE","tested_point":"IAS8_LIMITS_OPENING_CALC","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IAS8.000009","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000009","section_id":"numeric-example"},"references":["IAS 8 §4","IAS 8 §24"],"exercise":{"prompt":{"fr":"","en":"Earliest practicable period: N. At 1/1/N, inventories of Kerlane Textile (fictitious): 1,800,000 under the old policy, 1,720,000 under the new. Rate 25%, temporary difference. Calculate.","es":""},"explanation":{"fr":"","en":"Difference = 1,800,000 − 1,720,000 = 80,000; deferred tax asset = 80,000 × 25% = 20,000; net decrease = 80,000 − 20,000 = 60,000, taken to opening N, without restating N−1 (IAS 8, paras. 4 and 24).","es":""},"common_error":{"fr":"","en":"Taking the gross 80,000 decrease without a deferred tax asset, or restating N−1 when N is the earliest practicable period.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Old policy","es":""},"value":"1800000","unit":"EUR"},{"label":{"fr":"","en":"New policy","es":""},"value":"1720000","unit":"EUR"},{"label":{"fr":"","en":"Rate","es":""},"value":"25","unit":"PERCENT"}],"steps":[{"id":"S1","label":{"fr":"","en":"Difference","es":""},"answer":80000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Deferred tax asset","es":""},"answer":20000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Decrease in opening equity of 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practicable (IAS 8, para. 25).","es":""},"common_error":{"fr":"","en":"Applying retrospectively although the cumulative effect is impracticable: the standard then requires prospective application.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"If it is impracticable to determine, at the beginning of the current period, the {{a}} effect of the new policy on all prior periods, the entity applies it {{b}} from the earliest date practicable.","es":""},"blanks":[{"id":"a","mode":"CHOICE","choices":[{"id":"CUM","text":{"fr":"","en":"cumulative","es":""}},{"id":"FUT","text":{"fr":"","en":"future","es":""}}],"answer":"CUM"},{"id":"b","mode":"CHOICE","choices":[{"id":"PRO","text":{"fr":"","en":"prospectively","es":""}},{"id":"RET","text":{"fr":"","en":"retrospectively","es":""}}],"answer":"PRO"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000086","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.LIMITATIONS"],"dimension":"ANALYSIS","format":"CLASSIFICATION","context":"RETAIL","tested_point":"IAS8_LIMITS_EFFORT","difficulty":"ADVANCED","estimated_time_s":120,"lesson_id":"LS.IAS8.000009","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000009","section_id":"principle"},"references":["IAS 8 §5","IAS 8 §23"],"exercise":{"prompt":{"fr":"","en":"Are these reasons sufficient to limit retrospective application?","es":""},"explanation":{"fr":"","en":"Impracticable = impossible after every reasonable effort (IAS 8, paras. 5 and 23).","es":""},"common_error":{"fr":"","en":"Invoking impracticability merely on grounds of cost or difficulty without reasonable effort.","es":""},"format":"CLASSIFICATION","categories":[{"id":"YES","text":{"fr":"","en":"Can support impracticability","es":""}},{"id":"NO","text":{"fr":"","en":"Insufficient","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Detailed data never collected and impossible to recreate despite documented searches","es":""},"category":"YES"},{"id":"I2","text":{"fr":"","en":"Recalculation considered long and costly","es":""},"category":"NO"},{"id":"I3","text":{"fr":"","en":"Tight closing timetable","es":""},"category":"NO"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000087","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.LIMITATIONS"],"dimension":"APPLICATION","format":"ORDERING","context":"GENERIC","tested_point":"IAS8_LIMITS_STEPS","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000009","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000009","section_id":"how"},"references":["IAS 8 §24","IAS 8 §25","IAS 8 §53"],"exercise":{"prompt":{"fr":"","en":"Put in order the search for the starting date.","es":""},"explanation":{"fr":"","en":"List the data needed date by date and document the efforts made to obtain them; go back to the earliest date that can be recomputed without hindsight (IAS 8, para. 53); then apply the appropriate fallback: earliest practicable period (para. 24) or prospective application (para. 25).","es":""},"common_error":{"fr":"","en":"Choosing the fallback before documenting the efforts, or going back using hindsight.","es":""},"format":"ORDERING","steps":[{"id":"S1","text":{"fr":"","en":"List the data needed date by date","es":""}},{"id":"S2","text":{"fr":"","en":"Document the efforts made to obtain them","es":""}},{"id":"S3","text":{"fr":"","en":"Go back to the earliest date that can be recalculated without hindsight","es":""}},{"id":"S4","text":{"fr":"","en":"Apply the appropriate fallback (earliest practicable period or prospective)","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000088","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.LIMITATIONS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_LIMITS_HINDSIGHT","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS8.000009","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000009","section_id":"cumulative-effect"},"references":["IAS 8 §53"],"exercise":{"prompt":{"fr":"","en":"To recalculate a prior period when changing policy, the entity may use information obtained after that period’s statements were authorised, if it is more accurate.","es":""},"explanation":{"fr":"","en":"False: hindsight is excluded (IAS 8, para. 53).","es":""},"common_error":{"fr":"","en":"Using later, more precise information to recompute the past: hindsight is excluded.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000089","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.LIMITATIONS"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"GENERIC","tested_point":"IAS8_LIMITS_EARLIEST_PERIOD","difficulty":"ADVANCED","estimated_time_s":120,"lesson_id":"LS.IAS8.000009","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000009","section_id":"pitfalls"},"references":["IAS 8 §24","IAS 8 §25"],"exercise":{"prompt":{"fr":"","en":"Review these conclusions. Spot the errors.","es":""},"explanation":{"fr":"","en":"Conclusions 1 and 2 are wrong: the adjustment at 1/1/N goes to opening equity of N, not profit or loss (IAS 8, para. 24), and impracticability for one period does not excuse going back as far as practicable (IAS 8, paras. 24 and 25). Conclusion 3 complies: impracticability must be documented by the searches made.","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"1. As N−1 cannot be recalculated, the adjustment at 1/1/N is recorded in N profit or loss.","es":""},"erroneous":true,"correction":{"fr":"","en":"It goes to opening equity of N (IAS 8, para. 24).","es":""}},{"id":"S2","text":{"fr":"","en":"2. As one period cannot be recalculated, we abandon all retrospection, even for practicable periods.","es":""},"erroneous":true,"correction":{"fr":"","en":"Go back as far as practicable (IAS 8, paras. 24 and 25).","es":""}},{"id":"S3","text":{"fr":"","en":"3. Impracticability is documented by the searches made.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000090","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.LIMITATIONS"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"ENERGY","tested_point":"IAS8_LIMITS_CASE","difficulty":"EXPERT","estimated_time_s":240,"lesson_id":"LS.IAS8.000009","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000009","section_id":"judgment"},"references":["IAS 8 §4","IAS 8 §23","IAS 8 §24","IAS 8 §53"],"exercise":{"prompt":{"fr":"","en":"Analyse the file of Lavrenne Énergie, a fictitious gas distributor.","es":""},"explanation":{"fr":"","en":"Fallback to the earliest practicable period, without hindsight (IAS 8, paras. 24 and 53).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"In N, Lavrenne voluntarily adopts a new measurement policy for its gas inventories. Comparative: N−1. Detailed N−1 records were lost in an IT migration; a documented search found nothing. At 1/1/N, inventories: 3,000,000 (old policy), 3,120,000 (new). Rate 25%, temporary difference (case data).","es":""},"parts":[{"prompt":{"fr":"","en":"Earliest practicable period?","es":""},"explanation":{"fr":"","en":"The earliest practicable period is N: the N−1 records were lost and a documented search found nothing, so N−1 cannot be recomputed; the new policy applies to carrying amounts at 1/1/N (IAS 8, paras. 23 and 24).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"N (current period)","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"N−1","es":""},"correct":false,"feedback":{"fr":"","en":"N−1 data are lost and cannot be recreated.","es":""}}],"id":"P1","dimension":"PROFESSIONAL_JUDGMENT"},{"prompt":{"fr":"","en":"Calculate the adjustment to opening equity of N.","es":""},"explanation":{"fr":"","en":"120,000 × 25% = 30,000; 120,000 − 30,000 = 90,000 (IAS 8, paras. 4 and 24).","es":""},"common_error":{"fr":"","en":"Taking the gross 120,000 to equity without recognising the deferred tax liability.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Difference at 1/1/N","es":""},"value":"120000","unit":"EUR"},{"label":{"fr":"","en":"Rate","es":""},"value":"25","unit":"PERCENT"}],"steps":[{"id":"S1","label":{"fr":"","en":"Deferred tax liability","es":""},"answer":30000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Net increase in opening equity of N","es":""},"answer":90000,"tolerance":0,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Deferred tax liability","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Difference at 1/1/N","es":""},"value":120000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Rate","es":""},"value":25,"unit":"PERCENT"}],"result":30000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Net increase in opening equity of N","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Difference at 1/1/N","es":""},"value":120000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Deferred tax liability","es":""},"value":30000,"unit":"EUR"}],"result":90000,"unit":"EUR"}],"references":["REF.IAS8.4","REF.IAS8.24"]}},{"prompt":{"fr":"","en":"The file may reconstruct N−1 from prices observed in N, which are more reliable.","es":""},"explanation":{"fr":"","en":"False: hindsight is prohibited (IAS 8, para. 53); the file documents the loss of data and the searches.","es":""},"common_error":{"fr":"","en":"Rebuilding the past with prices observed later: even if more reliable, this is prohibited hindsight.","es":""},"format":"TRUE_FALSE","answer":false,"id":"P3","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000091","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_DISCLOSURE_INITIAL_APPLICATION","difficulty":"BEGINNER","estimated_time_s":60,"lesson_id":"LS.IAS8.000010","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000010","section_id":"initial-application"},"references":["IAS 8"],"exercise":{"prompt":{"fr":"","en":"On initial application of an IFRS affecting comparatives, the entity discloses, to the extent practicable, the effect on basic and diluted earnings per share if IAS 33 applies.","es":""},"explanation":{"fr":"","en":"True: on initial application of an IFRS affecting the current or a prior period, the entity discloses, to the extent practicable, the amount of the adjustment for basic and diluted earnings per share when IAS 33 applies (IAS 8, para. 28).","es":""},"common_error":{"fr":"","en":"Omitting the amount of the adjustment by line item and the effect on earnings per share.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000092","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.DISCLOSURE"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"GENERIC","tested_point":"IAS8_DISCLOSURE_VOLUNTARY","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS8.000010","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000010","section_id":"voluntary-change"},"references":["IAS 8","IAS 8 §29"],"exercise":{"prompt":{"fr":"","en":"Link each disclosure to the situation requiring it.","es":""},"explanation":{"fr":"","en":"IAS 8, para. 28 (initial application) and para. 29 (voluntary change).","es":""},"common_error":{"fr":"","en":"Linking the reasons for greater relevance to initial application of an IFRS: they are required only for a voluntary change.","es":""},"format":"CLASSIFICATION","categories":[{"id":"INIT","text":{"fr":"","en":"Initial application of an IFRS","es":""}},{"id":"VOL","text":{"fr":"","en":"Voluntary change","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Title of the IFRS and transitional provisions","es":""},"category":"INIT"},{"id":"I2","text":{"fr":"","en":"Reasons why the new policy is reliable and more relevant","es":""},"category":"VOL"},{"id":"I3","text":{"fr":"","en":"Description of transitional provisions that might affect future periods","es":""},"category":"INIT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000093","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"GENERIC","tested_point":"IAS8_DISCLOSURE_ISSUED_NOT_EFFECTIVE","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000010","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000010","section_id":"issued-not-effective"},"references":["IAS 8 §30","IAS 8 §31"],"exercise":{"prompt":{"fr":"","en":"An issued IFRS will become effective in two years. What does the entity consider disclosing?","es":""},"explanation":{"fr":"","en":"For an IFRS issued but not yet effective, the entity considers disclosing its title, the mandatory application date and the planned date of initial application, and an analysis of the expected impact (IAS 8, paras. 30 and 31). Nothing is restated yet, since the standard is not applied.","es":""},"common_error":{"fr":"","en":"Not mentioning an IFRS issued but not yet applied.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The title of the new IFRS","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The mandatory date and the planned date of initial application","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"An analysis of the expected impact","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Comparatives already restated under that standard","es":""},"correct":false,"feedback":{"fr":"","en":"The standard is not applied: nothing is restated.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000094","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.DISCLOSURE"],"dimension":"DOCUMENTATION","format":"ERROR_SPOT","context":"MANUFACTURING","tested_point":"IAS8_DISCLOSURE_VOLUNTARY","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS8.000010","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000010","section_id":"example"},"references":["IAS 8 §29"],"exercise":{"prompt":{"fr":"","en":"Review the draft note for a voluntary change. Spot the non-compliant points.","es":""},"explanation":{"fr":"","en":"Point 1 complies: it describes the nature of the change. Point 2 does not: the reasons must explain why the new policy is reliable and more relevant for the entity. Point 3 does not: the amount of the adjustment for each line item is required to the extent practicable, and the table exists (IAS 8, para. 29).","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"1. Nature: move to weighted average cost for parts inventories.","es":""},"erroneous":false},{"id":"S2","text":{"fr":"","en":"2. Reasons: 'in line with good practice'.","es":""},"erroneous":true,"correction":{"fr":"","en":"The reasons must explain how the new policy is reliable and more relevant for the entity (IAS 8, para. 29).","es":""}},{"id":"S3","text":{"fr":"","en":"3. Amounts: 'effect not disclosed' although the restatement table is available.","es":""},"erroneous":true,"correction":{"fr":"","en":"The amount of the adjustment by line item is required to the extent practicable (IAS 8, para. 29).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000095","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.DISCLOSURE"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"TECHNOLOGY","tested_point":"IAS8_DISCLOSURE_ISSUED_NOT_EFFECTIVE","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000010","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000010","section_id":"issued-not-effective"},"references":["IAS 8 §30"],"exercise":{"prompt":{"fr":"","en":"Druvelle, a fictitious publisher, has not yet analysed the impact of an issued IFRS that will apply in two years. What does it do?","es":""},"explanation":{"fr":"","en":"Druvelle mentions the issued standard and states that its impact is not yet known or reasonably estimable; staying silent until the analysis is done is not allowed, as the issued standard must be mentioned (IAS 8, para. 30).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It mentions the standard and states that the impact is not yet known or reasonably estimable","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"It says nothing until the analysis is done","es":""},"correct":false,"feedback":{"fr":"","en":"The issued standard must be mentioned.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000096","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.DISCLOSURE"],"dimension":"DOCUMENTATION","format":"ORDERING","context":"GENERIC","tested_point":"IAS8_DISCLOSURE_STEPS","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000010","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000010","section_id":"how"},"references":["IAS 8","IAS 8 §29","IAS 8 §30"],"exercise":{"prompt":{"fr":"","en":"Put in order the drafting of the note on a change in policy.","es":""},"explanation":{"fr":"","en":"The type of change drives the note's content: initial application of an IFRS (title and transition, IAS 8, para. 28) or voluntary change (reasons, para. 29). So describe the nature, quantify the adjustment by line item and period, then list IFRSs issued but not yet applied (para. 30).","es":""},"common_error":{"fr":"","en":"Quantifying the adjustment before identifying the type of change, which determines the disclosures.","es":""},"format":"ORDERING","steps":[{"id":"S1","text":{"fr":"","en":"Identify the type of change","es":""}},{"id":"S2","text":{"fr":"","en":"Describe the nature and, as the case may be, the title and transition or the reasons","es":""}},{"id":"S3","text":{"fr":"","en":"Quantify the adjustment by line item and period","es":""}},{"id":"S4","text":{"fr":"","en":"List the IFRSs issued but not yet applied","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000097","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DEFINITION_AND_DEVELOPMENT"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_ESTIMATE_DEFINITION","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS8.000011","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000011","section_id":"definition"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"An accounting estimate is a monetary amount in the financial statements subject to measurement uncertainty.","es":""},"explanation":{"fr":"","en":"True: an accounting estimate is a monetary amount in the financial statements subject to measurement uncertainty; it differs from the accounting policy, which is the rule applied (IAS 8, para. 5).","es":""},"common_error":{"fr":"","en":"Confusing estimate with policy: the estimate is an uncertain amount; the policy is the rule framing it.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000098","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DEFINITION_AND_DEVELOPMENT"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"GENERIC","tested_point":"IAS8_ESTIMATE_OBJECTIVE_LINK","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS8.000011","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000011","section_id":"definition"},"references":["IAS 8 §32"],"exercise":{"prompt":{"fr":"","en":"Why does an entity develop an accounting estimate?","es":""},"explanation":{"fr":"","en":"An estimate is developed to achieve the objective set by a policy when the amount cannot be observed directly (IAS 8, para. 32). It does not serve a profit objective such as smoothing, and it is distinct from the choice of policy.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"To achieve the objective set by a policy, when the amount cannot be observed directly","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"To smooth profit","es":""},"correct":false,"feedback":{"fr":"","en":"The estimate serves the objective of the policy, not a profit target.","es":""}},{"id":"C","text":{"fr":"","en":"Because the standard leaves the choice of policy to it","es":""},"correct":false,"feedback":{"fr":"","en":"Choosing the policy and making the estimate are two different things.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000099","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DEFINITION_AND_DEVELOPMENT"],"dimension":"RECOGNITION","format":"MATCHING","context":"GENERIC","tested_point":"IAS8_ESTIMATE_EXAMPLES","difficulty":"BEGINNER","estimated_time_s":75,"lesson_id":"LS.IAS8.000011","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000011","section_id":"definition"},"references":["IAS 8 §32"],"exercise":{"prompt":{"fr":"","en":"Match each estimate with the standard whose policy requires it.","es":""},"explanation":{"fr":"","en":"IAS 8 gives examples of estimates required by another standard's policy: expected credit losses (IFRS 9), net realisable value of inventory (IAS 2), fair value of an asset (IFRS 13) and a warranty provision (IAS 37). The estimate serves the objective set by that standard's policy (IAS 8, para. 32).","es":""},"common_error":{"fr":"","en":"Linking the estimate to IAS 8 instead of the standard whose policy requires it.","es":""},"format":"MATCHING","left":[{"id":"L1","text":{"fr":"","en":"Expected credit losses","es":""}},{"id":"L2","text":{"fr":"","en":"Net realisable value of inventory","es":""}},{"id":"L3","text":{"fr":"","en":"Fair value of an asset","es":""}},{"id":"L4","text":{"fr":"","en":"Warranty provision","es":""}}],"right":[{"id":"R2","text":{"fr":"","en":"IAS 2","es":""}},{"id":"R3","text":{"fr":"","en":"IFRS 13","es":""}},{"id":"R4","text":{"fr":"","en":"IAS 37","es":""}},{"id":"R1","text":{"fr":"","en":"IFRS 9","es":""}}],"pairs":[{"left":"L1","right":"R1"},{"left":"L2","right":"R2"},{"left":"L3","right":"R3"},{"left":"L4","right":"R4"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000100","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DEFINITION_AND_DEVELOPMENT"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"FINANCE","tested_point":"IAS8_TECHNIQUES_INPUTS","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS8.000011","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000011","section_id":"techniques-and-inputs"},"references":["IAS 8 §32A"],"exercise":{"prompt":{"fr":"","en":"For the fair value of an unlisted building, classify each item.","es":""},"explanation":{"fr":"","en":"Valuation techniques and inputs (IAS 8, para. 32A).","es":""},"common_error":{"fr":"","en":"Classifying discounting or transaction comparison as inputs: they are techniques, fed by rents and rates.","es":""},"format":"CLASSIFICATION","categories":[{"id":"TECH","text":{"fr":"","en":"Measurement technique","es":""}},{"id":"INPUT","text":{"fr":"","en":"Input","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Discounting future rents","es":""},"category":"TECH"},{"id":"I2","text":{"fr":"","en":"Market rent per m² in the area","es":""},"category":"INPUT"},{"id":"I3","text":{"fr":"","en":"Discount rate of 6%","es":""},"category":"INPUT"},{"id":"I4","text":{"fr":"","en":"Comparison with recent transactions","es":""},"category":"TECH"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000101","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DEFINITION_AND_DEVELOPMENT"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_ESTIMATE_TERM","difficulty":"ADVANCED","estimated_time_s":75,"lesson_id":"LS.IAS8.000011","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000011","section_id":"definition"},"references":["IAS 8 §32B"],"exercise":{"prompt":{"fr":"","en":"Whenever an IFRS uses the word 'estimate', it is an accounting estimate as defined in IAS 8.","es":""},"explanation":{"fr":"","en":"False: the term may refer, for example, to an input (IAS 8, para. 32B).","es":""},"common_error":{"fr":"","en":"Treating any 'estimate' mentioned in a standard as an accounting estimate.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000102","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DEFINITION_AND_DEVELOPMENT"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"GENERIC","tested_point":"IAS8_ESTIMATES_RELIABILITY","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS8.000011","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000011","section_id":"definition"},"references":["IAS 8 §33"],"exercise":{"prompt":{"fr":"","en":"A director claims that statements full of estimates are not reliable. What does IAS 8 answer?","es":""},"explanation":{"fr":"","en":"Reasonable estimates are an essential part of preparing financial statements and do not undermine their reliability (IAS 8, para. 33). Removing them is impossible: many policies require them.","es":""},"common_error":{"fr":"","en":"Believing an estimated amount makes the financial statements unreliable.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Reasonable estimates are an essential part of financial statements and do not undermine their reliability","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Estimates must be removed from the statements","es":""},"correct":false,"feedback":{"fr":"","en":"They are essential for many policies.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000103","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DEFINITION_AND_DEVELOPMENT"],"dimension":"CALCULATION","format":"CALCULATION","context":"RETAIL","tested_point":"IAS8_NRV_ESTIMATE_CALC","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS8.000011","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000011","section_id":"example"},"references":["IAS 8 §32","IAS 8 §32A"],"exercise":{"prompt":{"fr":"","en":"Ambrival, a fictitious electronics retailer, holds 250 televisions of a discontinued model at a unit cost of 400. Expected clearance price: 380; selling costs: 30 per unit. Calculate.","es":""},"explanation":{"fr":"","en":"(380 − 30) × 250 = 87,500; cost 100,000 → write-down 12,500. This amount is an accounting estimate (IAS 8, paras. 32 and 32A).","es":""},"common_error":{"fr":"","en":"Comparing cost with the gross 380 selling price without deducting selling costs: net realisable value is net of them.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Units","es":""},"value":"250","unit":"UNITS"},{"label":{"fr":"","en":"Unit cost","es":""},"value":"400","unit":"EUR"},{"label":{"fr":"","en":"Expected price","es":""},"value":"380","unit":"EUR"},{"label":{"fr":"","en":"Unit selling costs","es":""},"value":"30","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Total net realisable value","es":""},"answer":87500,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Write-down","es":""},"answer":12500,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Total net realisable value","es":""},"expression":"(a - b) * c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Expected price","es":""},"value":380,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Unit selling costs","es":""},"value":30,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Units","es":""},"value":250,"unit":"UNITS"}],"result":87500,"unit":"EUR"}],"references":["REF.IAS8.32","REF.IAS8.32A"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000104","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DEFINITION_AND_DEVELOPMENT"],"dimension":"APPLICATION","format":"ORDERING","context":"GENERIC","tested_point":"IAS8_ESTIMATE_BREAKDOWN","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000011","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000011","section_id":"how"},"references":["IAS 8 §32","IAS 8 §32A"],"exercise":{"prompt":{"fr":"","en":"Put in order the breakdown of an estimate.","es":""},"explanation":{"fr":"","en":"Start from the policy and its objective, then identify the amount that cannot be observed directly and requires an estimate (IAS 8, para. 32); next name the technique, list the inputs and their source (IAS 8, para. 32A) and document judgements and assumptions.","es":""},"common_error":{"fr":"","en":"Listing inputs before identifying the policy and the unobservable amount they help estimate.","es":""},"format":"ORDERING","steps":[{"id":"S1","text":{"fr":"","en":"Identify the policy and its objective","es":""}},{"id":"S2","text":{"fr":"","en":"Spot the amount that cannot be observed directly","es":""}},{"id":"S3","text":{"fr":"","en":"Name the technique","es":""}},{"id":"S4","text":{"fr":"","en":"List the inputs and their source","es":""}},{"id":"S5","text":{"fr":"","en":"Document judgements and assumptions","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000105","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DEFINITION_AND_DEVELOPMENT"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"HEALTHCARE","tested_point":"IAS8_ESTIMATE_LATEST_INFO","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IAS8.000011","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000011","section_id":"judgment"},"references":["IAS 8 §32"],"exercise":{"prompt":{"fr":"","en":"Analyse the estimate of Cordaval Santé, a fictitious medical equipment distributor.","es":""},"explanation":{"fr":"","en":"An estimate serves the objective of the policy with the best information available (IAS 8, para. 32).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"To write down its receivables at 31/12/N, Cordaval uses N−3 default rates, although the N−1 and N rates, which are available, are markedly higher.","es":""},"parts":[{"prompt":{"fr":"","en":"The estimate is based on the latest available reliable information.","es":""},"explanation":{"fr":"","en":"False: more recent and reliable rates existed (IAS 8, para. 32).","es":""},"common_error":{"fr":"","en":"Relying on old data when more recent, reliable information was available.","es":""},"format":"TRUE_FALSE","answer":false,"id":"P1","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"What should be done?","es":""},"explanation":{"fr":"","en":"Judgements and assumptions are based on the latest available reliable information (IAS 8, para. 32).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Update the inputs with recent rates","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Keep the old rates for consistency","es":""},"correct":false,"feedback":{"fr":"","en":"Consistency of policy does not require freezing outdated data.","es":""}}],"id":"P2","dimension":"PROFESSIONAL_JUDGMENT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000106","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_CHANGE_IN_ESTIMATE_NATURE","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS8.000012","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §34"],"exercise":{"prompt":{"fr":"","en":"By its nature, a change in estimate does not relate to prior periods and is not the correction of an error.","es":""},"explanation":{"fr":"","en":"True: a change in estimate results from changed circumstances, new information or more experience; by its nature it does not relate to prior periods and is not the correction of an error (IAS 8, para. 34).","es":""},"common_error":{"fr":"","en":"Treating a revised estimate as the correction of a past error, with restatement.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000107","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"GENERIC","tested_point":"IAS8_POLICY_ESTIMATE_ERROR_CLASSIFY","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS8.000012","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"measurement-basis"},"references":["IAS 8 §34","IAS 8 §34A","IAS 8 §35"],"exercise":{"prompt":{"fr":"","en":"Classify each change.","es":""},"explanation":{"fr":"","en":"Measurement basis → policy (IAS 8, para. 35); technique, input, assumption → estimate (IAS 8, paras. 34 and 34A).","es":""},"common_error":{"fr":"","en":"Treating a change in measurement basis as a change in estimate.","es":""},"format":"CLASSIFICATION","categories":[{"id":"POL","text":{"fr":"","en":"Change in policy","es":""}},{"id":"EST","text":{"fr":"","en":"Change in estimate","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Move from cost to fair value for a category of buildings","es":""},"category":"POL"},{"id":"I2","text":{"fr":"","en":"Replacement of one valuation technique by another","es":""},"category":"EST"},{"id":"I3","text":{"fr":"","en":"Update of the discount rate of a provision","es":""},"category":"EST"},{"id":"I4","text":{"fr":"","en":"Revision of the residual value of a truck fleet","es":""},"category":"EST"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000108","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"GENERIC","tested_point":"IAS8_DOUBT_RULE","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS8.000012","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"measurement-basis"},"references":["IAS 8 §35"],"exercise":{"prompt":{"fr":"","en":"A change is genuinely difficult to classify between policy and estimate. How is it treated?","es":""},"explanation":{"fr":"","en":"When it is difficult to distinguish a change in policy from a change in estimate, the standard decides: it is treated as a change in estimate (IAS 8, para. 35). Neither treatment as a change in policy nor a free choice by the entity is allowed.","es":""},"common_error":{"fr":"","en":"Not applying the doubt rule (treatment as a change in estimate) in a case difficult to classify.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As a change in estimate","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"As a change in policy","es":""},"correct":false,"feedback":{"fr":"","en":"The doubt rule goes the other way.","es":""}},{"id":"C","text":{"fr":"","en":"At the entity's choice","es":""},"correct":false,"feedback":{"fr":"","en":"The standard decides.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000109","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"APPLICATION","format":"TRUE_FALSE","context":"FINANCE","tested_point":"IAS8_INPUT_CHANGE","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000012","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §34A"],"exercise":{"prompt":{"fr":"","en":"Glamorel, a fictitious company, changes the default rate used in its receivables provision matrix in the light of N statistics. This is a change in accounting policy.","es":""},"explanation":{"fr":"","en":"False: a change in input is a change in estimate, unless it corrects an error (IAS 8, para. 34A).","es":""},"common_error":{"fr":"","en":"Seeing a change in policy in an updated rate: a change in an input is a change in estimate.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000110","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"MANUFACTURING","tested_point":"IAS8_DEPRECIATION_METHOD_CHANGE","difficulty":"ADVANCED","estimated_time_s":90,"lesson_id":"LS.IAS8.000012","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §32","IAS 8 §34"],"exercise":{"prompt":{"fr":"","en":"Helvaro, a fictitious manufacturer, moves from straight-line to diminishing balance for a machine whose wear proves concentrated in the early years (new information). Classification?","es":""},"explanation":{"fr":"","en":"Depreciation expense is an estimate (IAS 8, para. 32); revising it following new information is a change in estimate (IAS 8, para. 34).","es":""},"common_error":{"fr":"","en":"Calling a change in the depreciation method of an asset a change in policy.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Change in estimate, treated prospectively","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Change in policy, applied retrospectively","es":""},"correct":false,"feedback":{"fr":"","en":"The depreciation method serves to estimate the charge (IAS 8, para. 32).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000111","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"CONSTRUCTION","tested_point":"IAS8_CONTINGENCY_NOT_ERROR","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000012","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"contingencies"},"references":["IAS 8 §48"],"exercise":{"prompt":{"fr":"","en":"Nivelda Construction, a fictitious company, had provided 400,000 for a dispute, based on a reasonable lawyer’s opinion. The N judgement sets 520,000. How is the 120,000 dealt with?","es":""},"explanation":{"fr":"","en":"The 120,000 is expensed in N: the 400,000 provision was based on reasonable advice, and the judgment is the outcome of a contingency, which is not the correction of an error. Restating N−1 would therefore be wrong (IAS 8, para. 48).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As an expense of N: outcome of a contingency, not an error","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"By restating N−1","es":""},"correct":false,"feedback":{"fr":"","en":"This is not the correction of an error.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000112","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"APPLICATION","format":"ORDERING","context":"GENERIC","tested_point":"IAS8_CLASSIFICATION_TREE","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000012","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"how"},"references":["IAS 8 §5","IAS 8 §34","IAS 8 §35"],"exercise":{"prompt":{"fr":"","en":"Put in order the classification decision tree.","es":""},"explanation":{"fr":"","en":"First rule out an error by checking whether information available at the time was ignored (IAS 8, para. 5); then look for a change in measurement basis (policy); failing that, a change in input, technique or assumption is an estimate (IAS 8, paras. 34 and 34A); when in doubt between policy and estimate, treat it as an estimate (IAS 8, para. 35).","es":""},"common_error":{"fr":"","en":"Checking first for an estimate, without checking whether available information was ignored.","es":""},"format":"ORDERING","steps":[{"id":"S1","text":{"fr":"","en":"Was information available at the time ignored? (error)","es":""}},{"id":"S2","text":{"fr":"","en":"Otherwise, does the measurement basis change? (policy)","es":""}},{"id":"S3","text":{"fr":"","en":"Otherwise, does an input, technique or assumption change? (estimate)","es":""}},{"id":"S4","text":{"fr":"","en":"If in doubt between policy and estimate: estimate","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000113","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"CALCULATION","format":"CALCULATION","context":"MANUFACTURING","tested_point":"IAS8_PROSPECTIVE_VS_RETRO_STAKE","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IAS8.000012","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"numeric-example"},"references":["IAS 8 §34","IAS 8 §36"],"exercise":{"prompt":{"fr":"","en":"Machine of 800,000 acquired 1/1/N−4, depreciated over 10 years (80,000/year). At 1/1/N, total life is reduced to 8 years (new information). Compare prospective (correct) and retrospective (incorrect) treatment.","es":""},"explanation":{"fr":"","en":"Prospective: 480,000 / 4 = 120,000. Retrospective: 800,000 / 8 = 100,000, accumulated 400,000 instead of 320,000 → 80,000 outside profit or loss. A change in estimate is prospective (IAS 8, paras. 34 and 36).","es":""},"common_error":{"fr":"","en":"Recomputing depreciation over the total life from the start: the revision starts from carrying amount and remaining life.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Cost","es":""},"value":"800000","unit":"EUR"},{"label":{"fr":"","en":"Accumulated depreciation at 1/1/N","es":""},"value":"320000","unit":"EUR"},{"label":{"fr":"","en":"Revised remaining life","es":""},"value":"4","unit":"YEARS"}],"steps":[{"id":"S1","label":{"fr":"","en":"N charge, prospective treatment","es":""},"answer":120000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"N charge, retrospective treatment","es":""},"answer":100000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Opening adjustment that would wrongly be charged to equity","es":""},"answer":80000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S2","meaning":{"fr":"","en":"N charge, retrospective treatment","es":""},"expression":"a / 8","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cost","es":""},"value":800000,"unit":"EUR"}],"result":100000,"unit":"EUR"}],"rationale":{"fr":"","en":"A change in estimate is prospective (IAS 8, paras. 34 and 36).","es":""},"references":["REF.IAS8.34","REF.IAS8.36"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000114","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"REAL_ESTATE","tested_point":"IAS8_MEASUREMENT_BASIS","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS8.000012","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"measurement-basis"},"references":["IAS 8 §35"],"exercise":{"prompt":{"fr":"","en":"Moving from cost to fair value to measure a category of assets is a change in accounting policy.","es":""},"explanation":{"fr":"","en":"True: change in measurement basis (IAS 8, para. 35).","es":""},"common_error":{"fr":"","en":"Calling the move to fair value a change in estimate: changing the measurement basis is a change in policy.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000115","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"GENERIC","tested_point":"IAS8_POLICY_ESTIMATE_ERROR_CLASSIFY","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS8.000012","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"pitfalls"},"references":["IAS 8 §34","IAS 8 §34A","IAS 8 §35","IAS 8 §48"],"exercise":{"prompt":{"fr":"","en":"Review the classifications made by a closing team. Spot the errors.","es":""},"explanation":{"fr":"","en":"Classifications 1 and 3 are wrong: a new valuation technique is a change in estimate (IAS 8, para. 34A), and a lawsuit settled above a reasonable provision is the outcome of a contingency, not an error (IAS 8, para. 48). Classification 2 is right: moving from cost to fair value changes the measurement basis, hence the policy (IAS 8, para. 35).","es":""},"common_error":{"fr":"","en":"Treating a change in measurement technique as a change in policy.","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"1. New valuation technique for unlisted securities: change in policy.","es":""},"erroneous":true,"correction":{"fr":"","en":"Change in estimate (IAS 8, para. 34A).","es":""}},{"id":"S2","text":{"fr":"","en":"2. Move from cost to fair value for investment property: change in policy.","es":""},"erroneous":false},{"id":"S3","text":{"fr":"","en":"3. Lawsuit decided for more than a reasonable provision: correction of an error.","es":""},"erroneous":true,"correction":{"fr":"","en":"Outcome of a contingency, not an error (IAS 8, para. 48).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000116","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"GENERIC","tested_point":"IAS8_ESTIMATES_APPROXIMATIONS","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS8.000012","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"contingencies"},"references":["IAS 8 §48"],"exercise":{"prompt":{"fr":"","en":"Complete.","es":""},"explanation":{"fr":"","en":"Estimates are by nature approximations that may need revision as more information becomes known; the gain or loss recognised on the outcome of a contingency is therefore not the correction of an error (IAS 8, para. 48).","es":""},"common_error":{"fr":"","en":"Treating the outcome of a lawsuit as the correction of an error.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"Estimates are, by nature, {{a}} that may need revision; the gain or loss recognised on the outcome of a contingency {{b}} the correction of an error.","es":""},"blanks":[{"id":"a","mode":"CHOICE","choices":[{"id":"APP","text":{"fr":"","en":"approximations","es":""}},{"id":"CER","text":{"fr":"","en":"certainties","es":""}}],"answer":"APP"},{"id":"b","mode":"CHOICE","choices":[{"id":"NOT","text":{"fr":"","en":"is not","es":""}},{"id":"IS","text":{"fr":"","en":"is","es":""}}],"answer":"NOT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000117","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"RETAIL","tested_point":"IAS8_ERROR_OR_ESTIMATE_JUDGMENT","difficulty":"EXPERT","estimated_time_s":300,"lesson_id":"LS.IAS8.000012","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"judgment"},"references":["IAS 8 §5","IAS 8 §34","IAS 8 §35"],"exercise":{"prompt":{"fr":"","en":"Classify the three revisions of Nestaria Mode, a fictitious fashion retailer.","es":""},"explanation":{"fr":"","en":"Classification drives treatment: error → restatement, estimate → prospective (IAS 8, paras. 5, 34 and 35).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"The N−1 statements were authorised on 20 March N. In N: (a) the write-down of unsold N−1 collection stock is increased by 50,000 because January N clearance sales, known before approval, had been ignored; (b) the useful life of shop fittings moves from 8 to 6 years in the light of a renovation plan decided in June N; (c) the finance department hesitates between \"new policy\" and \"new estimate\" for a change in how the cost of returns is determined, and cannot decide.","es":""},"parts":[{"prompt":{"fr":"","en":"(a)?","es":""},"explanation":{"fr":"","en":"Prior-period error: the January N sales data were known before the N−1 accounts were authorised (20 March N) and were ignored; available information that was ignored is an error, not a change in estimate (IAS 8, para. 5).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Prior period error","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Change in estimate","es":""},"correct":false,"feedback":{"fr":"","en":"The information existed and was known before approval.","es":""}}],"id":"P1","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"(b)?","es":""},"explanation":{"fr":"","en":"Change in estimate: the useful life is revised in light of a refurbishment plan decided in June N, i.e. new circumstances after the N−1 accounts were authorised; it is not an error (IAS 8, para. 34).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Change in estimate","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Prior period error","es":""},"correct":false,"feedback":{"fr":"","en":"The June N plan is new information.","es":""}}],"id":"P2","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"(c)?","es":""},"explanation":{"fr":"","en":"The finance team cannot decide between policy and estimate: in that case, the standard requires the change to be treated as a change in estimate (IAS 8, para. 35).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Treated as a change in estimate","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Treated as a change in policy","es":""},"correct":false,"feedback":{"fr":"","en":"The doubt rule requires estimate treatment.","es":""}}],"id":"P3","dimension":"PROFESSIONAL_JUDGMENT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000118","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"GENERIC","tested_point":"IAS8_CHANGE_IN_ESTIMATE_NATURE","difficulty":"BEGINNER","estimated_time_s":60,"lesson_id":"LS.IAS8.000012","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §34"],"exercise":{"prompt":{"fr":"","en":"Which causes may lead to revising an accounting estimate?","es":""},"explanation":{"fr":"","en":"An estimate may be revised because of changes in the circumstances on which it was based, new information or more experience (IAS 8, para. 34). The wish to reach a profit target is not a legitimate cause.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A change in circumstances","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"New information","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"More experience","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The wish to reach a profit target","es":""},"correct":false,"feedback":{"fr":"","en":"This is not a legitimate cause.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000119","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"ANALYSIS","format":"FILL_BLANK","context":"LOGISTICS","tested_point":"IAS8_PROSPECTIVE_VS_RETRO_STAKE","difficulty":"ADVANCED","estimated_time_s":120,"lesson_id":"LS.IAS8.000012","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"numeric-example"},"references":["IAS 8 §34","IAS 8 §36"],"exercise":{"prompt":{"fr":"","en":"Fresnaye Transports, fictitious: trucks at 1/1/N carrying amount 600,000, remaining life revised to 3 years instead of 5 (old charge 120,000). Complete.","es":""},"explanation":{"fr":"","en":"600,000 / 3 = 200,000; +80,000; no opening adjustment (IAS 8, paras. 34 and 36).","es":""},"common_error":{"fr":"","en":"Adjusting opening equity for the past effect: a change in estimate is purely prospective.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"New N charge: {{a}}; additional expense in N profit or loss: {{b}}; adjustment to opening equity: {{c}}.","es":""},"blanks":[{"id":"a","mode":"NUMBER","answer":200000,"tolerance":0},{"id":"b","mode":"NUMBER","answer":80000,"tolerance":0},{"id":"c","mode":"NUMBER","answer":0,"tolerance":0}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000120","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_PROSPECTIVE_PL","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS8.000013","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"profit-or-loss"},"references":["IAS 8 §36"],"exercise":{"prompt":{"fr":"","en":"The effect of a change in estimate affecting the current and future periods is recognised in the period of the change and in future periods.","es":""},"explanation":{"fr":"","en":"True: the effect of a change in estimate is recognised prospectively in profit or loss of the period of change and, if they are also affected, future periods, as for a revised useful life (IAS 8, para. 36).","es":""},"common_error":{"fr":"","en":"Putting the whole effect in the period of change only, or taking it to opening equity.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000121","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"CALCULATION","format":"CALCULATION","context":"MANUFACTURING","tested_point":"IAS8_REVISED_DEPRECIATION","difficulty":"BEGINNER","estimated_time_s":120,"lesson_id":"LS.IAS8.000013","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"numeric-example"},"references":["IAS 8 §36"],"exercise":{"prompt":{"fr":"","en":"Machine: cost 900,000, acquired 1/1/N−3, life 9 years, zero residual value. At 1/1/N, total life revised to 7 years. Calculate.","es":""},"explanation":{"fr":"","en":"900,000 − 3 × 100,000 = 600,000; remaining life 4 years → 150,000 (IAS 8, para. 36).","es":""},"common_error":{"fr":"","en":"Recalculating the revised charge from the start instead of from the carrying amount at the date of the change.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Cost","es":""},"value":"900000","unit":"EUR"},{"label":{"fr":"","en":"Initial life","es":""},"value":"9","unit":"YEARS"},{"label":{"fr":"","en":"Years elapsed at 1/1/N","es":""},"value":"3","unit":"YEARS"},{"label":{"fr":"","en":"Revised total life","es":""},"value":"7","unit":"YEARS"}],"steps":[{"id":"S1","label":{"fr":"","en":"Carrying amount at 1/1/N","es":""},"answer":600000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"New annual charge","es":""},"answer":150000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000122","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION","IAS8.ESTIMATES.DISCLOSURE"],"dimension":"CALCULATION","format":"CALCULATION","context":"AGRICULTURE","tested_point":"IAS8_REVISED_DEPRECIATION","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IAS8.000013","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"numeric-example"},"references":["IAS 8 §36"],"exercise":{"prompt":{"fr":"","en":"Tractor: carrying amount at 1/1/N 180,000; old charge 30,000 (6 years remaining, zero residual value). Revision: 4 years remaining, residual value 20,000. Calculate.","es":""},"explanation":{"fr":"","en":"(180,000 − 20,000) / 4 = 40,000; +10,000 (IAS 8, paras. 36 and 39).","es":""},"common_error":{"fr":"","en":"Forgetting to deduct the revised residual value from the carrying amount before spreading it over the remaining life.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Carrying amount","es":""},"value":"180000","unit":"EUR"},{"label":{"fr":"","en":"Revised residual value","es":""},"value":"20000","unit":"EUR"},{"label":{"fr":"","en":"Revised remaining life","es":""},"value":"4","unit":"YEARS"},{"label":{"fr":"","en":"Old charge","es":""},"value":"30000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"New charge","es":""},"answer":40000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Effect on N","es":""},"answer":10000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"New charge","es":""},"expression":"(a - b) / c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Carrying amount","es":""},"value":180000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Revised residual value","es":""},"value":20000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Revised remaining life","es":""},"value":4,"unit":"YEARS"}],"result":40000,"unit":"EUR"}],"references":["REF.IAS8.36"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000123","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"MANUFACTURING","tested_point":"IAS8_ESTIMATE_BS_ADJUSTMENT","difficulty":"BEGINNER","estimated_time_s":90,"lesson_id":"LS.IAS8.000013","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"balance-sheet-items"},"references":["IAS 8 §36","IAS 8 §37"],"exercise":{"prompt":{"fr":"","en":"A warranty provision moves from 120,000 to 165,000 in the light of N claims. Record the N entry.","es":""},"explanation":{"fr":"","en":"Charge of 165,000 − 120,000 = 45,000: adjustment of the provision in the period of the change, against profit or loss (IAS 8, paras. 36 and 37).","es":""},"common_error":{"fr":"","en":"Charging the effect of a change in estimate to opening equity.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"PROVX","text":{"fr":"","en":"Provision expense","es":""}},{"id":"PROV","text":{"fr":"","en":"Provision","es":""}},{"id":"RE","text":{"fr":"","en":"Retained earnings","es":""}}],"lines":[{"id":"L1","account":"PROVX","side":"DEBIT","amount":45000},{"id":"L2","account":"PROV","side":"CREDIT","amount":45000}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000124","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"MANUFACTURING","tested_point":"IAS8_ESTIMATE_DEPRECIATION_ENTRY","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000013","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"entry"},"references":["IAS 8 §36"],"exercise":{"prompt":{"fr":"","en":"After revising the useful life, the N charge for a production line is 150,000 (old: 120,000). Record the N entry.","es":""},"explanation":{"fr":"","en":"The new charge of 150,000 is recognised in N; no entry in opening equity (IAS 8, para. 36).","es":""},"common_error":{"fr":"","en":"Booking only the 30,000 difference or taking it to equity: the full N charge goes to profit or loss.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"DEPX","text":{"fr":"","en":"Depreciation expense","es":""}},{"id":"ACCD","text":{"fr":"","en":"Accumulated depreciation","es":""}},{"id":"RE","text":{"fr":"","en":"Retained earnings","es":""}}],"lines":[{"id":"L1","account":"DEPX","side":"DEBIT","amount":150000},{"id":"L2","account":"ACCD","side":"CREDIT","amount":150000}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000125","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"TELECOM","tested_point":"IAS8_ESTIMATE_BS_ADJUSTMENT","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS8.000013","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"entry"},"references":["IAS 8 §36","IAS 8 §37"],"exercise":{"prompt":{"fr":"","en":"Orsalie Télécom, a fictitious operator, revises its receivables loss allowance from 300,000 to 260,000 in the light of N collections. Record the entry.","es":""},"explanation":{"fr":"","en":"Reversal of 300,000 − 260,000 = 40,000: adjustment of the carrying amount in the period of the change, in profit or loss (IAS 8, paras. 36 and 37).","es":""},"common_error":{"fr":"","en":"Taking the reversal to opening equity or restating N−1: the revision goes through N profit or loss.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"ALLOW","text":{"fr":"","en":"Loss allowance","es":""}},{"id":"IMPL","text":{"fr":"","en":"Impairment loss on receivables","es":""}},{"id":"INC","text":{"fr":"","en":"Reversal of impairment loss (profit or loss)","es":""}},{"id":"RE","text":{"fr":"","en":"Retained earnings","es":""}}],"lines":[{"id":"L1","account":"ALLOW","side":"DEBIT","amount":40000},{"id":"L2","account":"INC","side":"CREDIT","amount":40000}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000126","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"RULE_KNOWLEDGE","format":"MATCHING","context":"GENERIC","tested_point":"IAS8_PROSPECTIVE_PL","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS8.000013","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"profit-or-loss"},"references":["IAS 8 §36","IAS 8 §38"],"exercise":{"prompt":{"fr":"","en":"Match each change in estimate with the periods whose profit or loss is affected.","es":""},"explanation":{"fr":"","en":"Revising a bad-debt allowance affects only the period of change; revising a useful life affects the depreciation of the period of change and of each period of the remaining life (IAS 8, paras. 36 and 38).","es":""},"common_error":{"fr":"","en":"Spreading the effect of a revised allowance over several periods: it affects only the period of change.","es":""},"format":"MATCHING","left":[{"id":"L1","text":{"fr":"","en":"Revision of the allowance for doubtful receivables","es":""}},{"id":"L2","text":{"fr":"","en":"Revision of the useful life of a machine","es":""}}],"right":[{"id":"R2","text":{"fr":"","en":"The period of the change and each period of the remaining life","es":""}},{"id":"R1","text":{"fr":"","en":"Only the period of the change","es":""}}],"pairs":[{"left":"L1","right":"R1"},{"left":"L2","right":"R2"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000127","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"GENERIC","tested_point":"IAS8_PROSPECTIVE_ERRORS","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS8.000013","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"pitfalls"},"references":["IAS 8 §36","IAS 8 §37"],"exercise":{"prompt":{"fr":"","en":"Review the treatment of a change in estimate. Spot the errors.","es":""},"explanation":{"fr":"","en":"Statements 1 and 3 are wrong: a change in estimate is prospective, comparatives are not restated (IAS 8, para. 36), and an increase in a provision goes to profit or loss of the period of change, not opening equity (IAS 8, paras. 36 and 37). Statement 2 complies: the new charge starts from the carrying amount at the date of change.","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"1. N−1 comparatives are restated with the new useful life.","es":""},"erroneous":true,"correction":{"fr":"","en":"A change in estimate is prospective (IAS 8, para. 36).","es":""}},{"id":"S2","text":{"fr":"","en":"2. The new charge starts from the carrying amount at the date of the change.","es":""},"erroneous":false},{"id":"S3","text":{"fr":"","en":"3. The increase in the provision is recorded in opening equity.","es":""},"erroneous":true,"correction":{"fr":"","en":"It goes to profit or loss of the period of the change (IAS 8, paras. 36 and 37).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000128","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"APPLICATION","format":"ORDERING","context":"GENERIC","tested_point":"IAS8_REVISED_DEPRECIATION","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000013","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"how"},"references":["IAS 8 §36","IAS 8 §39"],"exercise":{"prompt":{"fr":"","en":"Put in order the revision of a depreciation plan.","es":""},"explanation":{"fr":"","en":"Start from the carrying amount at the date of change, apply the new estimates (life, residual value, method), compute the new charge, recognised in N and later periods (IAS 8, para. 36), then quantify the effect for disclosure (IAS 8, para. 39).","es":""},"common_error":{"fr":"","en":"Computing the new charge from original cost instead of the carrying amount at the date of change.","es":""},"format":"ORDERING","steps":[{"id":"S1","text":{"fr":"","en":"Start from the carrying amount at the date of the change","es":""}},{"id":"S2","text":{"fr":"","en":"Use the new estimates (life, residual value, method)","es":""}},{"id":"S3","text":{"fr":"","en":"Calculate the new charge","es":""}},{"id":"S4","text":{"fr":"","en":"Recognise in N and in the following periods","es":""}},{"id":"S5","text":{"fr":"","en":"Quantify the effect for disclosure","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000129","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"CALCULATION","format":"FILL_BLANK","context":"ENERGY","tested_point":"IAS8_REVISED_DEPRECIATION","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS8.000013","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"numeric-example"},"references":["IAS 8 §36"],"exercise":{"prompt":{"fr":"","en":"Wind turbine: carrying amount at 1/1/N 2,400,000; remaining life revised from 12 to 15 years; residual value revised from 0 to 150,000. Complete.","es":""},"explanation":{"fr":"","en":"2,400,000 / 12 = 200,000; (2,400,000 − 150,000) / 15 = 150,000; −50,000 of expense (IAS 8, para. 36).","es":""},"common_error":{"fr":"","en":"Ignoring the new residual value or keeping the old life: both revised estimates enter the charge.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"Old charge: {{a}}; new charge: {{b}}; effect on N profit (decrease in expense): {{c}}.","es":""},"blanks":[{"id":"a","mode":"NUMBER","answer":200000,"tolerance":0},{"id":"b","mode":"NUMBER","answer":150000,"tolerance":0},{"id":"c","mode":"NUMBER","answer":50000,"tolerance":0}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000130","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"GENERIC","tested_point":"IAS8_ESTIMATE_BS_ADJUSTMENT","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS8.000013","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"balance-sheet-items"},"references":["IAS 8 §37"],"exercise":{"prompt":{"fr":"","en":"A change in estimate changes a liability. How is it recognised?","es":""},"explanation":{"fr":"","en":"A change in estimate affecting a liability is recognised by adjusting that liability's carrying amount in the period of change (IAS 8, para. 37). There is no restatement at 1/1/N−1, and a note alone is not enough.","es":""},"common_error":{"fr":"","en":"Adjusting profit instead of the carrying amount of an asset or liability when the change concerns a balance sheet item.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"By adjusting the carrying amount of the liability in the period of the change","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"By restating the liability at 1/1/N−1","es":""},"correct":false,"feedback":{"fr":"","en":"No restatement for an estimate.","es":""}},{"id":"C","text":{"fr":"","en":"Only through a note","es":""},"correct":false,"feedback":{"fr":"","en":"The carrying amount is adjusted.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000131","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION","IAS8.ESTIMATES.DISCLOSURE"],"dimension":"ANALYSIS","format":"MINI_CASE","context":"MANUFACTURING","tested_point":"IAS8_PROSPECTIVE_CASE","difficulty":"EXPERT","estimated_time_s":300,"lesson_id":"LS.IAS8.000013","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"judgment"},"references":["IAS 8 §36","IAS 8 §37","IAS 8 §39"],"exercise":{"prompt":{"fr":"","en":"Deal with the revisions at Ostrelia Plastiques, a fictitious manufacturer.","es":""},"explanation":{"fr":"","en":"Prospective, adjustment of carrying amounts, disclosure of the effect (IAS 8, paras. 36, 37 and 39).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"At 1/1/N: production moulds, carrying amount 480,000, old remaining life 6 years (charge 80,000); new study: 4 years remaining, residual value 40,000. At 31/12/N: provision for cleaning up land contaminated by past operations (not included in the cost of any asset, case data) re-estimated from 200,000 to 230,000 based on a new quote.","es":""},"parts":[{"prompt":{"fr":"","en":"Calculate the moulds charge for N and its effect.","es":""},"explanation":{"fr":"","en":"(480,000 − 40,000) / 4 = 110,000; +30,000 (IAS 8, para. 36).","es":""},"common_error":{"fr":"","en":"Forgetting the residual value or keeping the 6-year life: the charge rests on the revised estimates.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Carrying amount","es":""},"value":"480000","unit":"EUR"},{"label":{"fr":"","en":"Residual value","es":""},"value":"40000","unit":"EUR"},{"label":{"fr":"","en":"Remaining life","es":""},"value":"4","unit":"YEARS"}],"steps":[{"id":"S1","label":{"fr":"","en":"Charge for N","es":""},"answer":110000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Effect compared with the old plan","es":""},"answer":30000,"tolerance":0,"unit":"EUR"}],"id":"P1","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Charge for N","es":""},"expression":"(a - b) / c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Carrying amount","es":""},"value":480000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Residual value","es":""},"value":40000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Remaining life","es":""},"value":4,"unit":"YEARS"}],"result":110000,"unit":"EUR"}],"references":["REF.IAS8.36"]}},{"prompt":{"fr":"","en":"Record the provision entry.","es":""},"explanation":{"fr":"","en":"Adjustment of the liability in the period of the change (IAS 8, para. 37).","es":""},"common_error":{"fr":"","en":"Taking the provision increase to opening equity instead of profit or loss of the period.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"PROVX","text":{"fr":"","en":"Provision expense","es":""}},{"id":"PROV","text":{"fr":"","en":"Provision","es":""}},{"id":"RE","text":{"fr":"","en":"Retained earnings","es":""}}],"lines":[{"id":"L1","account":"PROVX","side":"DEBIT","amount":30000},{"id":"L2","account":"PROV","side":"CREDIT","amount":30000}],"id":"P2","dimension":"JOURNAL_ENTRY"},{"prompt":{"fr":"","en":"What must the note on the moulds disclose?","es":""},"explanation":{"fr":"","en":"The note states the nature of the change (revised life and residual value) and its effect on N (+30,000) and the expected effect on future periods (IAS 8, para. 39). Nothing is restated for N−1, since a change in estimate is prospective.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The nature of the change (revised life and residual value)","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The effect on N (+30,000) and the expected effect on future periods","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The restatement of N−1","es":""},"correct":false,"feedback":{"fr":"","en":"Nothing is restated.","es":""}}],"id":"P3","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000132","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"RETAIL","tested_point":"IAS8_PROSPECTIVE_PL","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000013","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"profit-or-loss"},"references":["IAS 8 §36"],"exercise":{"prompt":{"fr":"","en":"Iselmar Retail revises its return rate on N sales (new information received in N). Where does the effect go?","es":""},"explanation":{"fr":"","en":"Revising the returns rate is a change in estimate based on new information received in N: its effect is prospective and goes to N profit or loss, without adjusting opening equity or N−1 comparatives (IAS 8, para. 36).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"To profit or loss of N","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"To opening equity","es":""},"correct":false,"feedback":{"fr":"","en":"Change in estimate: prospective.","es":""}},{"id":"C","text":{"fr":"","en":"In the N−1 comparatives","es":""},"correct":false,"feedback":{"fr":"","en":"No restatement.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000133","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"GENERIC","tested_point":"IAS8_PROSPECTIVE_ERRORS","difficulty":"ADVANCED","estimated_time_s":90,"lesson_id":"LS.IAS8.000013","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"judgment"},"references":["IAS 8 §36","IAS 8 §37"],"exercise":{"prompt":{"fr":"","en":"For a change in estimate, classify these treatments.","es":""},"explanation":{"fr":"","en":"A change in estimate is recognised in profit or loss of the period of change (IAS 8, para. 36) and, if it affects an asset, a liability or equity, by adjusting its carrying amount in that period (IAS 8, para. 37). Restating comparatives or charging opening retained earnings is therefore incorrect.","es":""},"common_error":{"fr":"","en":"Considering restated comparatives or an opening-equity charge correct: those treatments are for policies and errors.","es":""},"format":"CLASSIFICATION","categories":[{"id":"OK","text":{"fr":"","en":"Correct","es":""}},{"id":"KO","text":{"fr":"","en":"Incorrect","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Additional expense in profit or loss of the period of the change","es":""},"category":"OK"},{"id":"I2","text":{"fr":"","en":"Adjustment of the carrying amount of the liability concerned in the period","es":""},"category":"OK"},{"id":"I3","text":{"fr":"","en":"Restatement of comparatives","es":""},"category":"KO"},{"id":"I4","text":{"fr":"","en":"Charge to opening retained earnings","es":""},"category":"KO"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000134","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_ESTIMATE_DISCLOSURE_CONTENT","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS8.000013","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"disclosure"},"references":["IAS 8 §39"],"exercise":{"prompt":{"fr":"","en":"The entity discloses the nature and amount of a change in estimate that affects the current period or is expected to affect future periods.","es":""},"explanation":{"fr":"","en":"True: the entity discloses the nature and amount of a change in estimate that affects the current period or is expected to affect future periods, unless the latter is impracticable to estimate (IAS 8, paras. 39 and 40).","es":""},"common_error":{"fr":"","en":"Mentioning only the nature of the change without quantifying its effect on the current and future periods.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000135","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"GENERIC","tested_point":"IAS8_ESTIMATE_DISCLOSURE_IMPRACTICABLE","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS8.000013","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"disclosure"},"references":["IAS 8 §40"],"exercise":{"prompt":{"fr":"","en":"Complete.","es":""},"explanation":{"fr":"","en":"If the effect on future periods is not disclosed because estimating it is impracticable, the entity discloses that fact (IAS 8, para. 40). Mere high cost is not enough, and silent omission is not allowed.","es":""},"common_error":{"fr":"","en":"Omitting the expected effect on future periods or the statement of its impracticability.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"If the amount of the effect on future periods is not disclosed because estimating it is {{a}}, the entity {{b}} that fact.","es":""},"blanks":[{"id":"a","mode":"CHOICE","choices":[{"id":"IMP","text":{"fr":"","en":"impracticable","es":""}},{"id":"COST","text":{"fr":"","en":"costly","es":""}}],"answer":"IMP"},{"id":"b","mode":"CHOICE","choices":[{"id":"DISC","text":{"fr":"","en":"discloses","es":""}},{"id":"HIDE","text":{"fr":"","en":"omits","es":""}}],"answer":"DISC"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000136","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DISCLOSURE"],"dimension":"CALCULATION","format":"CALCULATION","context":"MANUFACTURING","tested_point":"IAS8_ESTIMATE_DISCLOSURE_AMOUNT","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IAS8.000013","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"disclosure"},"references":["IAS 8 §39","IAS 8 §36"],"exercise":{"prompt":{"fr":"","en":"At the start of N, a machine has a carrying amount of 450,000, depreciated so far on a straight-line basis at 90,000 a year for 5 more years (N to N+4), with a zero residual value. A new estimate reduces its remaining useful life to 3 years (N to N+2); the residual value remains zero. Calculate the new charge, then the amounts to disclose.","es":""},"explanation":{"fr":"","en":"New charge = 450,000 / 3 = 150,000. Annual effect = new charge − old charge. N, N+1 and N+2: 150,000 − 90,000 = +60,000; N+3 and N+4, with no more charge: 0 − 90,000 = −90,000. Check: 3 × 60,000 − 2 × 90,000 = 0; the change in estimate spreads the same 450,000 differently, prospectively (IAS 8, para. 36). Amounts for the disclosure (IAS 8, para. 39).","es":""},"common_error":{"fr":"","en":"Presenting the total effect instead of the difference between old and new charge, or calculating a new charge that does not spread the whole remaining carrying amount (450,000) over the new life.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Carrying amount at the start of N","es":""},"value":"450000","unit":"EUR"},{"label":{"fr":"","en":"Old annual charge (5 years remaining)","es":""},"value":"90000","unit":"EUR"},{"label":{"fr":"","en":"New remaining useful life","es":""},"value":"3","unit":"YEARS"}],"steps":[{"id":"S0","label":{"fr":"","en":"New annual charge","es":""},"answer":150000,"tolerance":0,"unit":"EUR"},{"id":"S1","label":{"fr":"","en":"Effect on the current period","es":""},"answer":60000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Effect per year on the next two future periods","es":""},"answer":60000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Effect per year on the last two years of the old plan (decrease)","es":""},"answer":90000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S0","meaning":{"fr":"","en":"New annual charge","es":""},"expression":"a / b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Carrying amount at the start of N","es":""},"value":450000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"New remaining useful life","es":""},"value":3,"unit":"YEARS"}],"result":150000,"unit":"EUR"}],"references":["REF.IAS8.39","REF.IAS8.36"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000137","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DISCLOSURE"],"dimension":"DOCUMENTATION","format":"ERROR_SPOT","context":"GENERIC","tested_point":"IAS8_ESTIMATE_DISCLOSURE_MISSING","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS8.000013","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"disclosure"},"references":["IAS 8 §39","IAS 8 §40"],"exercise":{"prompt":{"fr":"","en":"Review this draft note on a change in estimate. Spot what is missing.","es":""},"explanation":{"fr":"","en":"Statements 1 and 2 are incomplete: the amount of the effect on the period must be disclosed (IAS 8, para. 39), and if the future effect is not given, the note must state that estimating it is impracticable (IAS 8, para. 40). Statement 3 complies: it describes the nature of the change.","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"1. 'The useful life of vehicles has been revised.'","es":""},"erroneous":true,"correction":{"fr":"","en":"The amount of the effect on the period must be disclosed (IAS 8, para. 39).","es":""}},{"id":"S2","text":{"fr":"","en":"2. 'The future effect will depend on activity; it is not disclosed.'","es":""},"erroneous":true,"correction":{"fr":"","en":"It must be stated that the estimate is impracticable, and why (IAS 8, para. 40).","es":""}},{"id":"S3","text":{"fr":"","en":"3. 'The nature of the change is a revision of the useful life.'","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000138","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DISCLOSURE"],"dimension":"RECOGNITION","format":"MULTIPLE_CHOICE","context":"GENERIC","tested_point":"IAS8_ESTIMATE_DISCLOSURE_CONTENT","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000013","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"disclosure"},"references":["IAS 8 §39","IAS 8 §40"],"exercise":{"prompt":{"fr":"","en":"Which items does a note on a change in estimate contain?","es":""},"explanation":{"fr":"","en":"The note on a change in estimate gives its nature, the amount of the effect on the current period and the future effect or, failing that, the fact that estimating it is impracticable (IAS 8, paras. 39 and 40). It contains no restatement of comparatives, which a change in estimate does not involve.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The nature of the change","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The amount of the effect on the current period","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The future effect, or a statement that it is impracticable to estimate it","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The restatement of comparatives","es":""},"correct":false,"feedback":{"fr":"","en":"A change in estimate is not restated.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000139","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DISCLOSURE"],"dimension":"PROFESSIONAL_JUDGMENT","format":"TRUE_FALSE","context":"FINANCE","tested_point":"IAS8_ESTIMATE_DISCLOSURE_IMPRACTICABLE","difficulty":"EXPERT","estimated_time_s":120,"lesson_id":"LS.IAS8.000013","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"judgment"},"references":["IAS 8 §40"],"exercise":{"prompt":{"fr":"","en":"An entity may invoke impracticability to avoid quantifying the future effect of a revised useful life, although the calculation is simple, in order to avoid unfavourable information.","es":""},"explanation":{"fr":"","en":"False: the exception only applies if the estimate is genuinely impracticable (IAS 8, paras. 39 and 40).","es":""},"common_error":{"fr":"","en":"Invoking impracticability to avoid unfavourable disclosure: it requires a genuine inability to estimate.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000140","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"GENERIC","tested_point":"IAS8_ERROR_SCOPE","difficulty":"BEGINNER","estimated_time_s":60,"lesson_id":"LS.IAS8.000014","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"error-scope"},"references":["IAS 8 §41"],"exercise":{"prompt":{"fr":"","en":"What can an error affect?","es":""},"explanation":{"fr":"","en":"An error can concern the recognition, measurement, presentation or disclosure of elements of financial statements (IAS 8, para. 41); it is not limited to income-statement amounts.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Recognition","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Measurement","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Presentation","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Disclosure","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Only income statement amounts","es":""},"correct":false,"feedback":{"fr":"","en":"Errors can affect every aspect of the financial statements.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000141","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_INTENTIONAL_IMMATERIAL_ERROR","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS8.000014","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"error-scope"},"references":["IAS 8 §41"],"exercise":{"prompt":{"fr":"","en":"Financial statements do not comply with IFRSs if they contain immaterial errors made intentionally to achieve a particular presentation.","es":""},"explanation":{"fr":"","en":"True: financial statements do not comply with IFRSs if they contain material errors, or immaterial errors made intentionally to achieve a particular presentation of position, performance or cash flows (IAS 8, para. 41).","es":""},"common_error":{"fr":"","en":"Considering an intentional immaterial error to have no consequence on compliance.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000142","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"RECOGNITION","format":"MATCHING","context":"GENERIC","tested_point":"IAS8_ERROR_CAUSES","difficulty":"BEGINNER","estimated_time_s":90,"lesson_id":"LS.IAS8.000014","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"error-scope"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"Match each situation with the corresponding cause of error.","es":""},"explanation":{"fr":"","en":"Causes of errors listed in IAS 8 (para. 5).","es":""},"common_error":{"fr":"","en":"Confusing fraud with misinterpretation of facts: fraud implies intent, misinterpretation does not.","es":""},"format":"MATCHING","left":[{"id":"L1","text":{"fr":"","en":"A wrongly added total in the stock count","es":""}},{"id":"L2","text":{"fr":"","en":"A machine in use never depreciated","es":""}},{"id":"L3","text":{"fr":"","en":"A contract read as a sale although it is a consignment","es":""}},{"id":"L4","text":{"fr":"","en":"Fictitious sales recorded by a sales manager","es":""}}],"right":[{"id":"R2","text":{"fr":"","en":"Mistake in applying a policy","es":""}},{"id":"R3","text":{"fr":"","en":"Misinterpretation of facts","es":""}},{"id":"R4","text":{"fr":"","en":"Fraud","es":""}},{"id":"R1","text":{"fr":"","en":"Mathematical mistake","es":""}}],"pairs":[{"left":"L1","right":"R1"},{"left":"L2","right":"R2"},{"left":"L3","right":"R3"},{"left":"L4","right":"R4"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000143","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"APPLICATION","format":"CLASSIFICATION","context":"GENERIC","tested_point":"IAS8_CURRENT_VS_PRIOR_ERROR","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS8.000014","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"current-vs-prior"},"references":["IAS 8 §41"],"exercise":{"prompt":{"fr":"","en":"The N statements will be authorised on 15/03/N+1; the N−1 statements were authorised on 15/03/N. Classify each discovery.","es":""},"explanation":{"fr":"","en":"An N error discovered before the N accounts are authorised (on 20/12/N or 10/02/N+1) is corrected in those accounts before issue. A material N−1 error discovered on 30/06/N, after the 15/03/N authorisation, is a prior-period error corrected in the comparatives (IAS 8, para. 41).","es":""},"common_error":{"fr":"","en":"Confusing a current period error (corrected before issue) with a prior period error.","es":""},"format":"CLASSIFICATION","categories":[{"id":"CUR","text":{"fr":"","en":"Corrected in the N statements before authorisation","es":""}},{"id":"PRI","text":{"fr":"","en":"Corrected in comparatives (prior period error)","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"N error discovered on 10/02/N+1","es":""},"category":"CUR"},{"id":"I2","text":{"fr":"","en":"Material N−1 error discovered on 30/06/N","es":""},"category":"PRI"},{"id":"I3","text":{"fr":"","en":"N error discovered on 20/12/N","es":""},"category":"CUR"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000144","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_CONTINGENCY_NOT_ERROR","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS8.000014","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"not-errors"},"references":["IAS 8 §48"],"exercise":{"prompt":{"fr":"","en":"The gain or loss recognised on the outcome of a contingency constitutes the correction of an error.","es":""},"explanation":{"fr":"","en":"False: estimates are approximations that may be revised; the gain or loss recognised on the outcome of a contingency is therefore not the correction of an error and goes to profit or loss of the period (IAS 8, para. 48).","es":""},"common_error":{"fr":"","en":"Treating the outcome of a lawsuit as the correction of an error.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000145","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"ANALYSIS","format":"CLASSIFICATION","context":"MANUFACTURING","tested_point":"IAS8_ERROR_VS_ESTIMATE","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS8.000014","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"not-errors"},"references":["IAS 8 §5","IAS 8 §34","IAS 8 §48"],"exercise":{"prompt":{"fr":"","en":"Prior period error or not?","es":""},"explanation":{"fr":"","en":"The December N−1 invoices received before the N−1 accounts were finalised were available and overlooked: that is an error (IAS 8, para. 5). The life shortened after a breakdown in N is a revised estimate (IAS 8, para. 34); the settlement above a reasonable provision is the outcome of a contingency (IAS 8, para. 48).","es":""},"common_error":{"fr":"","en":"Calling a breakdown in N or a settlement above a reasonable provision an error: the information did not exist at the time.","es":""},"format":"CLASSIFICATION","categories":[{"id":"ERR","text":{"fr":"","en":"Error","es":""}},{"id":"EST","text":{"fr":"","en":"Revised estimate or outcome of a contingency","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Useful life shortened after a breakdown in N","es":""},"category":"EST"},{"id":"I2","text":{"fr":"","en":"December N−1 supplier invoices forgotten, received before N−1 approval","es":""},"category":"ERR"},{"id":"I3","text":{"fr":"","en":"Compensation paid in N higher than a reasonable N−1 provision","es":""},"category":"EST"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000146","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"SERVICES","tested_point":"IAS8_CURRENT_PERIOD_ERROR_ENTRY","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000014","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"entry"},"references":["IAS 8 §41"],"exercise":{"prompt":{"fr":"","en":"In January N+1, before the N statements are approved, Rennoria Services discovers that a December N customer invoice of 45,000 was not recorded. Record the entry in the N statements.","es":""},"explanation":{"fr":"","en":"Current period error discovered before authorisation: receivable and revenue of 45,000 recorded in the N statements (IAS 8, para. 41), not through opening equity.","es":""},"common_error":{"fr":"","en":"Correcting through opening equity: discovered before the accounts are finalised, the N error is corrected in the N accounts.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"REC","text":{"fr":"","en":"Trade receivables","es":""}},{"id":"REVN","text":{"fr":"","en":"Revenue of the current period","es":""}},{"id":"RE","text":{"fr":"","en":"Retained earnings","es":""}}],"lines":[{"id":"L1","account":"REC","side":"DEBIT","amount":45000},{"id":"L2","account":"REVN","side":"CREDIT","amount":45000}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000147","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"APPLICATION","format":"ORDERING","context":"GENERIC","tested_point":"IAS8_ERROR_DIAGNOSIS","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000014","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"how"},"references":["IAS 8 §5","IAS 8 §41","IAS 8 §48"],"exercise":{"prompt":{"fr":"","en":"Put in order the diagnosis of an anomaly.","es":""},"explanation":{"fr":"","en":"Describe the anomaly, date the information relative to authorisation for issue (IAS 8, para. 5), rule out a revised estimate and a contingency outcome (IAS 8, para. 48), assess materiality and intent (IAS 8, para. 41), then place the discovery to choose the treatment.","es":""},"common_error":{"fr":"","en":"Choosing the treatment before dating the information and ruling out a revised estimate or contingency outcome.","es":""},"format":"ORDERING","steps":[{"id":"S1","text":{"fr":"","en":"Describe the anomaly (item, presentation, disclosure)","es":""}},{"id":"S2","text":{"fr":"","en":"Date the information relative to authorisation for issue","es":""}},{"id":"S3","text":{"fr":"","en":"Rule out revised estimate and outcome of a contingency","es":""}},{"id":"S4","text":{"fr":"","en":"Assess materiality and intent","es":""}},{"id":"S5","text":{"fr":"","en":"Place the discovery and choose the treatment","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000148","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"FINANCE","tested_point":"IAS8_PRESENTATION_ERROR","difficulty":"ADVANCED","estimated_time_s":90,"lesson_id":"LS.IAS8.000014","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"error-scope"},"references":["IAS 8 §41"],"exercise":{"prompt":{"fr":"","en":"In June N, Galvenne Finance discovers that a loan of 2,000,000 repayable in N was classified as non-current at 31/12/N−1. The amount is material. Classification?","es":""},"explanation":{"fr":"","en":"A loan repayable in N classified as non-current at 31/12/N−1 is a presentation error; it is material and must be corrected in the comparatives. An error can concern presentation even if no profit amount is wrong (IAS 8, para. 41).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Prior period presentation error, to be corrected in the comparatives","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Not an error: no profit amount is wrong","es":""},"correct":false,"feedback":{"fr":"","en":"An error can affect presentation.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000149","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"GENERIC","tested_point":"IAS8_ERROR_VS_ESTIMATE","difficulty":"ADVANCED","estimated_time_s":120,"lesson_id":"LS.IAS8.000014","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"pitfalls"},"references":["IAS 8 §41","IAS 8 §48"],"exercise":{"prompt":{"fr":"","en":"Review these conclusions. Spot the errors.","es":""},"explanation":{"fr":"","en":"Conclusions 1 and 2 are wrong: a lawsuit settled above a reasonable provision is the outcome of a contingency, with no restatement of N−1 (IAS 8, para. 48), and an immaterial but intentional misstatement prevents compliance (IAS 8, para. 41). Conclusion 3 complies: an N error discovered before finalisation is corrected in the N accounts.","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"1. The lawsuit was settled in N above the reasonable N−1 provision: we restate N−1.","es":""},"erroneous":true,"correction":{"fr":"","en":"Outcome of a contingency: not an error (IAS 8, para. 48).","es":""}},{"id":"S2","text":{"fr":"","en":"2. The immaterial departure was intentional, but it has no consequence.","es":""},"erroneous":true,"correction":{"fr":"","en":"It prevents compliance (IAS 8, para. 41).","es":""}},{"id":"S3","text":{"fr":"","en":"3. The N error discovered before approval is corrected in the N statements.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000150","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"RETAIL","tested_point":"IAS8_ERROR_MATERIALITY_INTENT","difficulty":"EXPERT","estimated_time_s":240,"lesson_id":"LS.IAS8.000014","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"judgment"},"references":["IAS 8 §41"],"exercise":{"prompt":{"fr":"","en":"Analyse the departures found at Vesperol Retail, a fictitious distributor.","es":""},"explanation":{"fr":"","en":"Materiality (including aggregated) and intent (IAS 8, para. 41).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"The internal auditor finds: (a) an error of 8,000 on transport costs (profit 4,000,000); (b) a departure of 9,000, decided on 31 December, that just allows a bank ratio to be met; (c) a series of small departures in the same direction totalling 350,000.","es":""},"parts":[{"prompt":{"fr":"","en":"Classify the departures.","es":""},"explanation":{"fr":"","en":"(b) is intentional; (c) is material once aggregated (IAS 8, para. 41).","es":""},"common_error":{"fr":"","en":"Judging each misstatement alone by amount: intent and aggregation can make a small one incompatible with compliance.","es":""},"format":"CLASSIFICATION","categories":[{"id":"OK","text":{"fr":"","en":"No effect on compliance if corrected later","es":""}},{"id":"KO","text":{"fr":"","en":"Prevents compliance","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"(a) isolated error of 8,000","es":""},"category":"OK"},{"id":"I2","text":{"fr":"","en":"(b) 9,000 departure decided to meet a ratio","es":""},"category":"KO"},{"id":"I3","text":{"fr":"","en":"(c) small departures totalling 350,000","es":""},"category":"KO"}],"id":"P1","dimension":"PROFESSIONAL_JUDGMENT"},{"prompt":{"fr":"","en":"The file must aggregate the departures before concluding on materiality.","es":""},"explanation":{"fr":"","en":"True: good practice for assessing materiality (IAS 8, para. 41).","es":""},"common_error":{"fr":"","en":"Concluding misstatement by misstatement: individually small ones can become material once aggregated.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P2","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000151","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"CONSTRUCTION","tested_point":"IAS8_ERROR_VS_ESTIMATE","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000014","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"not-errors"},"references":["IAS 8 §5","IAS 8 §48"],"exercise":{"prompt":{"fr":"","en":"Abrivel Bâtiment had provided 150,000 for a claim, based on a reasonable expert report. A more unfavourable report prepared in N raises the estimate to 210,000. Treatment?","es":""},"explanation":{"fr":"","en":"Estimates are approximations revised with new information (IAS 8, para. 48); no error without available information being ignored (IAS 8, para. 5).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Additional expense of 60,000 in N","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Restatement of N−1 for 60,000","es":""},"correct":false,"feedback":{"fr":"","en":"New information: not an error.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000152","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_RESTATEMENT_WHERE","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS8.000015","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"restatement-rule"},"references":["IAS 8 §42"],"exercise":{"prompt":{"fr":"","en":"A material prior period error is corrected in the first set of financial statements authorised for issue after its discovery.","es":""},"explanation":{"fr":"","en":"True: a material prior-period error is corrected retrospectively in the first set of financial statements authorised for issue after its discovery, by restating the comparatives or the opening balances of the earliest period presented (IAS 8, para. 42).","es":""},"common_error":{"fr":"","en":"Waiting several years or correcting in current profit: the correction is made in the first financial statements authorised after discovery, by restatement.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000153","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"APPLICATION","format":"MATCHING","context":"GENERIC","tested_point":"IAS8_RESTATEMENT_WHERE","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000015","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"restatement-rule"},"references":["IAS 8 §42"],"exercise":{"prompt":{"fr":"","en":"N statements with comparative N−1. Match each error with where it is corrected.","es":""},"explanation":{"fr":"","en":"An error arising in N−1 is corrected in the N−1 comparative amounts; one arising before the earliest period presented, such as in N−3, in the opening balances of N−1 (IAS 8, para. 42); an N error found before finalisation is corrected directly in the N accounts (IAS 8, para. 41).","es":""},"common_error":{"fr":"","en":"Correcting an old (N−3) error in the N−1 comparatives: arising before the earliest period presented, it goes through opening balances.","es":""},"format":"MATCHING","left":[{"id":"L1","text":{"fr":"","en":"Error arising in N−1","es":""}},{"id":"L2","text":{"fr":"","en":"Error arising in N−3","es":""}},{"id":"L3","text":{"fr":"","en":"N error discovered before N approval","es":""}}],"right":[{"id":"R2","text":{"fr":"","en":"Opening balances of N−1","es":""}},{"id":"R3","text":{"fr":"","en":"The N statements directly","es":""}},{"id":"R1","text":{"fr":"","en":"N−1 comparative amounts","es":""}}],"pairs":[{"left":"L1","right":"R1"},{"left":"L2","right":"R2"},{"left":"L3","right":"R3"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000154","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"GENERIC","tested_point":"IAS8_RESTATEMENT_NOT_PL","difficulty":"BEGINNER","estimated_time_s":60,"lesson_id":"LS.IAS8.000015","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"excluded-from-profit"},"references":["IAS 8 §46"],"exercise":{"prompt":{"fr":"","en":"Where does the correction of a prior period error never appear?","es":""},"explanation":{"fr":"","en":"The correction of a prior-period error is excluded from profit or loss of the period of discovery (IAS 8, para. 46); it appears instead in the restated comparatives and in historical summaries, restated as far back as practicable.","es":""},"common_error":{"fr":"","en":"Correcting a prior period error in profit or loss of the period of discovery.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"In profit or loss of the period of discovery","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"In the restated comparatives","es":""},"correct":false,"feedback":{"fr":"","en":"Comparatives are restated.","es":""}},{"id":"C","text":{"fr":"","en":"In the restated historical summaries","es":""},"correct":false,"feedback":{"fr":"","en":"They are restated as far back as practicable.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000155","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"CALCULATION","format":"CALCULATION","context":"MANUFACTURING","tested_point":"IAS8_RESTATEMENT_CALC","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IAS8.000015","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"numeric-example"},"references":["IAS 8 §4","IAS 8 §42"],"exercise":{"prompt":{"fr":"","en":"Comparative N−1. A machine of 300,000 acquired 1/1/N−2 (life 6 years) was never depreciated. Rate 25%; depreciation was not deducted for tax and an amended return is possible (current tax asset). Calculate.","es":""},"explanation":{"fr":"","en":"50,000 a year; N−2 → opening: 50,000 × 75% = 37,500; N−1 → comparative: −37,500; cumulative 100,000; tax 25,000 (IAS 8, paras. 4 and 42).","es":""},"common_error":{"fr":"","en":"Allocating to the comparative period the part of the error before the earliest period presented.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Cost","es":""},"value":"300000","unit":"EUR"},{"label":{"fr":"","en":"Life","es":""},"value":"6","unit":"YEARS"},{"label":{"fr":"","en":"Rate","es":""},"value":"25","unit":"PERCENT"}],"steps":[{"id":"S1","label":{"fr":"","en":"Decrease in equity at 1/1/N−1","es":""},"answer":37500,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Decrease in N−1 profit","es":""},"answer":37500,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Accumulated depreciation at 31/12/N−1","es":""},"answer":100000,"tolerance":0,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Current tax asset at 31/12/N−1","es":""},"answer":25000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000156","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"CALCULATION","format":"FILL_BLANK","context":"RETAIL","tested_point":"IAS8_RESTATEMENT_CALC","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IAS8.000015","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"numeric-example"},"references":["IAS 8 §4","IAS 8 §42"],"exercise":{"prompt":{"fr":"","en":"Comparative N−1. N−1 sales overstated by 200,000 (January N deliveries recorded in December N−1, delivery notes on file). Margin on these sales: 30%. Tax rate 25%, tax recoverable by amendment. Complete.","es":""},"explanation":{"fr":"","en":"Wrong margin 200,000 × 30% = 60,000; tax 15,000; net 45,000 (IAS 8, paras. 4 and 42).","es":""},"common_error":{"fr":"","en":"Taking the full overstated revenue (200,000) as the profit error: only the margin on those sales affects profit.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"Decrease in N−1 profit before tax: {{a}}; tax effect: {{b}}; decrease in N−1 profit: {{c}}.","es":""},"blanks":[{"id":"a","mode":"NUMBER","answer":60000,"tolerance":0},{"id":"b","mode":"NUMBER","answer":15000,"tolerance":0},{"id":"c","mode":"NUMBER","answer":45000,"tolerance":0}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000157","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"MANUFACTURING","tested_point":"IAS8_RESTATEMENT_ENTRY","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS8.000015","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"entry"},"references":["IAS 8 §4","IAS 8 §42","IAS 8 §46"],"exercise":{"prompt":{"fr":"","en":"At 1/1/N, the undepreciated machine of the previous exercise shows 100,000 of omitted depreciation; current tax asset 25,000. Record the entry in the N books.","es":""},"explanation":{"fr":"","en":"Accumulated depreciation credited by 100,000; current tax asset 25,000; opening retained earnings debited with 100,000 − 25,000 = 75,000. Correction net of tax, outside N profit or loss (IAS 8, paras. 4, 42 and 46).","es":""},"common_error":{"fr":"","en":"Correcting a prior period error in profit or loss of the period of discovery.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"RE","text":{"fr":"","en":"Retained earnings","es":""}},{"id":"CTA","text":{"fr":"","en":"Current tax asset","es":""}},{"id":"ACCD","text":{"fr":"","en":"Accumulated depreciation","es":""}},{"id":"PL","text":{"fr":"","en":"Expense of the current period","es":""}}],"lines":[{"id":"L1","account":"RE","side":"DEBIT","amount":75000},{"id":"L2","account":"CTA","side":"DEBIT","amount":25000},{"id":"L3","account":"ACCD","side":"CREDIT","amount":100000}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000158","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"RETAIL","tested_point":"IAS8_RESTATEMENT_ENTRY","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS8.000015","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"entry"},"references":["IAS 8 §4","IAS 8 §42","IAS 8 §46"],"exercise":{"prompt":{"fr":"","en":"At 1/1/N: N−1 sales overstated by 200,000 (trade receivables) with cost of sales overstated by 140,000 (inventory actually still held); tax recoverable 15,000. Record the entry.","es":""},"explanation":{"fr":"","en":"Receivables −200,000, inventories +140,000, tax +15,000, retained earnings −45,000 (IAS 8, paras. 4 and 42); nothing in N revenue.","es":""},"common_error":{"fr":"","en":"Correcting through N revenue: the N−1 error goes through opening retained earnings.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"RE","text":{"fr":"","en":"Retained earnings","es":""}},{"id":"CTA","text":{"fr":"","en":"Current tax asset","es":""}},{"id":"INV","text":{"fr":"","en":"Inventories","es":""}},{"id":"REC","text":{"fr":"","en":"Trade receivables","es":""}},{"id":"REVN","text":{"fr":"","en":"Revenue of the current period","es":""}}],"lines":[{"id":"L1","account":"RE","side":"DEBIT","amount":45000},{"id":"L2","account":"CTA","side":"DEBIT","amount":15000},{"id":"L3","account":"INV","side":"DEBIT","amount":140000},{"id":"L4","account":"REC","side":"CREDIT","amount":200000}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000159","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"RULE_KNOWLEDGE","format":"CLASSIFICATION","context":"GENERIC","tested_point":"IAS8_RESTATEMENT_LIMITS","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IAS8.000015","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"restatement-limits"},"references":["IAS 8 §43","IAS 8 §44","IAS 8 §45"],"exercise":{"prompt":{"fr":"","en":"Match each situation with the correction provided.","es":""},"explanation":{"fr":"","en":"If all effects can be determined, retrospective restatement is complete (IAS 8, para. 43). If period-specific effects are impracticable but the cumulative effect is known, restate the opening balances of the earliest practicable period (IAS 8, para. 44). If the cumulative effect at the start of the current period is impracticable, correct prospectively from the earliest practicable date (IAS 8, para. 45).","es":""},"common_error":{"fr":"","en":"Abandoning all restatement once one period is impracticable: the correction goes as far back as practicable.","es":""},"format":"CLASSIFICATION","categories":[{"id":"FULL","text":{"fr":"","en":"Full retrospective restatement","es":""}},{"id":"EARLY","text":{"fr":"","en":"Opening balances of the earliest practicable period","es":""}},{"id":"PROS","text":{"fr":"","en":"Prospective from the earliest practicable date","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"All effects are determinable","es":""},"category":"FULL"},{"id":"I2","text":{"fr":"","en":"N−1 period-specific effects impracticable, cumulative effect at 1/1/N known","es":""},"category":"EARLY"},{"id":"I3","text":{"fr":"","en":"Cumulative effect at the beginning of the current period impracticable","es":""},"category":"PROS"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000160","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"ANALYSIS","format":"MULTIPLE_CHOICE","context":"GENERIC","tested_point":"IAS8_RESTATEMENT_IMPACT","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS8.000015","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"numeric-example"},"references":["IAS 8 §42","IAS 8 §46"],"exercise":{"prompt":{"fr":"","en":"An N−1 error (omitted expense of 80,000, no tax effect) is corrected in the N statements. Which statements are correct?","es":""},"explanation":{"fr":"","en":"The error arose in N−1: the correction reduces the N−1 comparative profit by 80,000 and hence restated equity at 31/12/N−1 (IAS 8, para. 42). It is excluded from N profit (IAS 8, para. 46), and equity at 1/1/N−1 is unaffected since the error does not predate N−1.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"N−1 profit presented as a comparative falls by 80,000","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Restated equity at 31/12/N−1 falls by 80,000","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"N profit falls by 80,000","es":""},"correct":false,"feedback":{"fr":"","en":"The correction is excluded from N profit.","es":""}},{"id":"D","text":{"fr":"","en":"Equity at 1/1/N−1 falls by 80,000","es":""},"correct":false,"feedback":{"fr":"","en":"The error arose in N−1, not earlier.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000161","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"APPLICATION","format":"ORDERING","context":"GENERIC","tested_point":"IAS8_RESTATEMENT_STEPS","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000015","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"how"},"references":["IAS 8 §4","IAS 8 §42","IAS 8 §46","IAS 8 §49"],"exercise":{"prompt":{"fr":"","en":"Put in order the restatement of an error.","es":""},"explanation":{"fr":"","en":"First place the error in time, then compute the error per period with its tax effect (IAS 8, para. 4); charge the earlier portion to the opening balances of the earliest period presented and restate comparatives for the periods presented (IAS 8, paras. 42 and 46); finally book the entry and draft the note (IAS 8, para. 49).","es":""},"common_error":{"fr":"","en":"Booking the entry before placing the error in time and splitting between opening balances and comparatives.","es":""},"format":"ORDERING","steps":[{"id":"S1","text":{"fr":"","en":"Place the error in time","es":""}},{"id":"S2","text":{"fr":"","en":"Calculate the error by period and its tax effect","es":""}},{"id":"S3","text":{"fr":"","en":"Charge the earlier part to the opening balance of the earliest period presented","es":""}},{"id":"S4","text":{"fr":"","en":"Restate comparatives for the part of the periods presented","es":""}},{"id":"S5","text":{"fr":"","en":"Record the entry and draft the note","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000162","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"GENERIC","tested_point":"IAS8_RESTATEMENT_ERRORS","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS8.000015","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"pitfalls"},"references":["IAS 8 §4","IAS 8 §42","IAS 8 §46"],"exercise":{"prompt":{"fr":"","en":"Review the treatment of an N−2 error discovered in N (comparative N−1). Spot the errors.","es":""},"explanation":{"fr":"","en":"All three treatments are wrong: the correction is excluded from N profit (IAS 8, para. 46); an N−2 error goes to the opening balances of N−1, not the N−1 comparative profit (IAS 8, para. 42); and the tax effect is dealt with under IAS 12 even for a closed year (IAS 8, para. 4).","es":""},"common_error":{"fr":"","en":"Omitting the deferred tax effect of the correction.","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"1. The correction is recorded in 'exceptional expenses' of N.","es":""},"erroneous":true,"correction":{"fr":"","en":"Excluded from N profit or loss (IAS 8, para. 46).","es":""}},{"id":"S2","text":{"fr":"","en":"2. The N−2 error is charged to comparative N−1 profit.","es":""},"erroneous":true,"correction":{"fr":"","en":"It goes to the opening balances of N−1 (IAS 8, para. 42).","es":""}},{"id":"S3","text":{"fr":"","en":"3. The tax effect is omitted because it concerns a closed year.","es":""},"erroneous":true,"correction":{"fr":"","en":"It is dealt with under IAS 12 (IAS 8, para. 4).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000163","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_HISTORICAL_SUMMARIES","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS8.000015","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"excluded-from-profit"},"references":["IAS 8 §46"],"exercise":{"prompt":{"fr":"","en":"Historical summaries of financial data presented with the statements (for example over five years) are restated as far back as practicable after correcting an error.","es":""},"explanation":{"fr":"","en":"True: after correcting a prior-period error, historical summaries of financial data, such as a five-year series, are also restated as far back as practicable (IAS 8, para. 46).","es":""},"common_error":{"fr":"","en":"Restating only the comparative and leaving the historical summaries published with the accounts unchanged.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000164","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"CALCULATION","format":"CALCULATION","context":"TECHNOLOGY","tested_point":"IAS8_RESTATEMENT_DEFERRED_TAX","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IAS8.000015","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"numeric-example"},"references":["IAS 8 §4","IAS 8 §42"],"exercise":{"prompt":{"fr":"","en":"N−1 error found in N (comparative N−1): a 120,000 licence paid early N−1 for 3 years was fully expensed in N−1; it should have been recognised as a prepayment and spread. For tax, the N−1 deduction stands (case data) → temporary difference, rate 25%. Calculate.","es":""},"explanation":{"fr":"","en":"Correct N−1 expense = 120,000 / 3 = 40,000; prepayment = 120,000 − 40,000 = 80,000; deferred tax liability = 80,000 × 25% = 20,000; restated N−1 profit = 80,000 − 20,000 = +60,000 (IAS 8, paras. 4 and 42).","es":""},"common_error":{"fr":"","en":"Omitting the deferred tax effect of the correction.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Licence (3 years)","es":""},"value":"120000","unit":"EUR"},{"label":{"fr":"","en":"Rate","es":""},"value":"25","unit":"PERCENT"}],"steps":[{"id":"S1","label":{"fr":"","en":"Prepayment at 31/12/N−1","es":""},"answer":80000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Deferred tax liability at 31/12/N−1","es":""},"answer":20000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Increase in restated N−1 profit","es":""},"answer":60000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Prepayment at 31/12/N−1","es":""},"expression":"a - (a / 3)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Licence (3 years)","es":""},"value":120000,"unit":"EUR"}],"result":80000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Deferred tax liability at 31/12/N−1","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Prepayment at 31/12/N−1","es":""},"value":80000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Rate","es":""},"value":25,"unit":"PERCENT"}],"result":20000,"unit":"EUR"}],"references":["REF.IAS8.4","REF.IAS8.42"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000165","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT","IAS8.ERRORS.DISCLOSURE"],"dimension":"ANALYSIS","format":"MINI_CASE","context":"HOSPITALITY","tested_point":"IAS8_RESTATEMENT_CASE","difficulty":"EXPERT","estimated_time_s":300,"lesson_id":"LS.IAS8.000015","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"judgment"},"references":["IAS 8 §4","IAS 8 §42","IAS 8 §46","IAS 8 §49"],"exercise":{"prompt":{"fr":"","en":"Correct the error at Glamorel Hôtels, a fictitious chain.","es":""},"explanation":{"fr":"","en":"Retrospective restatement, outside N profit or loss, with full disclosure (IAS 8, paras. 42, 46 and 49).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"While preparing the N statements (comparative N−1), Glamorel discovers that rents for its head office were omitted: 60,000 in N−2 and 60,000 in N−1 (leases and invoices on file). Tax rate 25%, amended return possible (current tax asset). N−1 profit as published: 900,000; 500,000 shares (IAS 33 applies).","es":""},"parts":[{"prompt":{"fr":"","en":"Calculate.","es":""},"explanation":{"fr":"","en":"60,000 × 75% = 45,000 at opening; N−1: 900,000 − 45,000 = 855,000 (IAS 8, paras. 4 and 42).","es":""},"common_error":{"fr":"","en":"Correcting opening equity with the gross amount, or charging both omissions to N−1 profit.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Rents omitted N−2","es":""},"value":"60000","unit":"EUR"},{"label":{"fr":"","en":"Rents omitted N−1","es":""},"value":"60000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Correction of equity at 1/1/N−1 (decrease)","es":""},"answer":45000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Restated N−1 profit","es":""},"answer":855000,"tolerance":0,"unit":"EUR"}],"id":"P1","dimension":"CALCULATION"},{"prompt":{"fr":"","en":"Calculate N−1 earnings per share, in cents, as published and restated.","es":""},"explanation":{"fr":"","en":"900,000 / 500,000 = 1.80; 855,000 / 500,000 = 1.71 (IAS 8, para. 49).","es":""},"common_error":{"fr":"","en":"Computing restated EPS with reported profit, or changing the number of shares.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"Published: {{a}} cents; restated: {{b}} cents.","es":""},"blanks":[{"id":"a","mode":"NUMBER","answer":180,"tolerance":0},{"id":"b","mode":"NUMBER","answer":171,"tolerance":0}],"id":"P2","dimension":"CALCULATION"},{"prompt":{"fr":"","en":"What does the note contain?","es":""},"explanation":{"fr":"","en":"The note gives the nature of the error (omitted rents), the corrections by N−1 line item and for earnings per share, and the correction at 1/1/N−1, the start of the earliest period presented (IAS 8, para. 49). An exceptional charge of 90,000 in N is excluded, as the correction does not go through N profit (IAS 8, para. 46).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The nature of the error (rents omitted)","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The corrections by N−1 line item and of earnings per share","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The correction at 1/1/N−1","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"An exceptional expense of 90,000 in N","es":""},"correct":false,"feedback":{"fr":"","en":"Excluded from N profit or loss (IAS 8, para. 46).","es":""}}],"id":"P3","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000166","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"GENERIC","tested_point":"IAS8_RESTATEMENT_PRINCIPLE","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS8.000015","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"restatement-rule"},"references":["IAS 8 §43"],"exercise":{"prompt":{"fr":"","en":"How is a prior period error corrected in principle?","es":""},"explanation":{"fr":"","en":"A prior-period error is in principle corrected by retrospective restatement, unless impracticable (IAS 8, para. 43). Prospective application is for changes in estimates, and a note alone is not enough: the amounts are corrected.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"By retrospective restatement, unless impracticable","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"By prospective application","es":""},"correct":false,"feedback":{"fr":"","en":"Prospective treatment concerns estimates.","es":""}},{"id":"C","text":{"fr":"","en":"By a mere note","es":""},"correct":false,"feedback":{"fr":"","en":"The amounts are corrected.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000167","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"ANALYSIS","format":"CLASSIFICATION","context":"MANUFACTURING","tested_point":"IAS8_RESTATEMENT_IMPACT","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS8.000015","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"numeric-example"},"references":["IAS 8 §42"],"exercise":{"prompt":{"fr":"","en":"Error arising in N−2 and repeated in N−1, discovered in N (comparative N−1). Classify each part.","es":""},"explanation":{"fr":"","en":"The N−2 portion, before the earliest period presented, corrects the opening balances of N−1, together with its tax effect; the N−1 portion corrects the N−1 comparative (IAS 8, paras. 4 and 42).","es":""},"common_error":{"fr":"","en":"Putting the N−2 portion in the N−1 comparative, or forgetting that its tax effect follows the same place of correction.","es":""},"format":"CLASSIFICATION","categories":[{"id":"OPEN","text":{"fr":"","en":"Opening balances of N−1","es":""}},{"id":"COMP","text":{"fr":"","en":"N−1 comparative","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Part relating to N−2","es":""},"category":"OPEN"},{"id":"I2","text":{"fr":"","en":"Part relating to N−1","es":""},"category":"COMP"},{"id":"I3","text":{"fr":"","en":"Tax effect of the N−2 part","es":""},"category":"OPEN"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000168","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_ERROR_DISCLOSURE_CONTENT","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS8.000015","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"disclosure"},"references":["IAS 8 §49"],"exercise":{"prompt":{"fr":"","en":"Disclosures on the correction of a prior period error must be repeated in the financial statements of all subsequent periods.","es":""},"explanation":{"fr":"","en":"False: they need not be repeated (IAS 8, para. 49).","es":""},"common_error":{"fr":"","en":"Repeating every year the disclosures on an error already corrected.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000169","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.DISCLOSURE"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"GENERIC","tested_point":"IAS8_ERROR_DISCLOSURE_CONTENT","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000015","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"disclosure"},"references":["IAS 8 §49"],"exercise":{"prompt":{"fr":"","en":"Required disclosure or not when correcting an error?","es":""},"explanation":{"fr":"","en":"When correcting an error, the entity discloses the nature of the error, the correction for each line item for each prior period presented and the correction at the start of the earliest period presented (IAS 8, para. 49). The name of the employee responsible is not required.","es":""},"common_error":{"fr":"","en":"Adding information not required, such as the person responsible, or omitting the correction at the start of the earliest period presented.","es":""},"format":"CLASSIFICATION","categories":[{"id":"REQ","text":{"fr":"","en":"Required","es":""}},{"id":"NREQ","text":{"fr":"","en":"Not required","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Nature of the error","es":""},"category":"REQ"},{"id":"I2","text":{"fr":"","en":"Correction by line item for each prior period presented","es":""},"category":"REQ"},{"id":"I3","text":{"fr":"","en":"Correction at the beginning of the earliest period presented","es":""},"category":"REQ"},{"id":"I4","text":{"fr":"","en":"Name of the employee responsible for the error","es":""},"category":"NREQ"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000170","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.DISCLOSURE"],"dimension":"DOCUMENTATION","format":"ERROR_SPOT","context":"GENERIC","tested_point":"IAS8_ERROR_DISCLOSURE_OPENING","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS8.000015","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"disclosure"},"references":["IAS 8 §49"],"exercise":{"prompt":{"fr":"","en":"Review this draft note on an error correction. Spot what is missing.","es":""},"explanation":{"fr":"","en":"Statement 1 complies: it describes the nature of the error. Statements 2 and 3 show gaps: the corrections by N−1 line item are required to the extent practicable, and the amount of the correction at the start of the earliest period presented (1/1/N−1) must be given (IAS 8, para. 49).","es":""},"common_error":{"fr":"","en":"Omitting the amount of the correction at the beginning of the earliest period presented.","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"1. 'An error on N−1 inventories has been corrected.'","es":""},"erroneous":false},{"id":"S2","text":{"fr":"","en":"2. The corrections by N−1 line item are not quantified although they are known.","es":""},"erroneous":true,"correction":{"fr":"","en":"Required to the extent practicable (IAS 8, para. 49).","es":""}},{"id":"S3","text":{"fr":"","en":"3. The correction at 1/1/N−1 is not mentioned.","es":""},"erroneous":true,"correction":{"fr":"","en":"The amount at the beginning of the earliest period presented is required (IAS 8, para. 49).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000171","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.DISCLOSURE"],"dimension":"CALCULATION","format":"CALCULATION","context":"GENERIC","tested_point":"IAS8_ERROR_DISCLOSURE_EPS","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS8.000015","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"disclosure"},"references":["IAS 8 §49"],"exercise":{"prompt":{"fr":"","en":"N−1 profit as published 1,500,000; correction −120,000; 1,000,000 shares; IAS 33 applies. Calculate earnings per share (in cents).","es":""},"explanation":{"fr":"","en":"1.50 → (1,500,000 − 120,000) / 1,000,000 = 1.38: the EPS correction is disclosed (IAS 8, para. 49).","es":""},"common_error":{"fr":"","en":"Computing restated EPS on reported profit, or omitting disclosure of the EPS correction.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Profit as published","es":""},"value":"1500000","unit":"EUR"},{"label":{"fr":"","en":"Correction","es":""},"value":"-120000","unit":"EUR"},{"label":{"fr":"","en":"Number of shares","es":""},"value":"1000000","unit":"UNITS"}],"steps":[{"id":"S1","label":{"fr":"","en":"EPS as published (cents)","es":""},"answer":150,"tolerance":0,"unit":"UNITS"},{"id":"S2","label":{"fr":"","en":"Restated EPS (cents)","es":""},"answer":138,"tolerance":0,"unit":"UNITS"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000172","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"GENERIC","tested_point":"IAS8_ERROR_DISCLOSURE_IMPRACTICABLE","difficulty":"ADVANCED","estimated_time_s":75,"lesson_id":"LS.IAS8.000015","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"disclosure"},"references":["IAS 8 §49"],"exercise":{"prompt":{"fr":"","en":"Restatement of one period is impracticable. What must the note disclose?","es":""},"explanation":{"fr":"","en":"When restating a period is impracticable, the note gives the circumstances that led to it and how and from when the error was corrected (IAS 8, para. 49). Silence is not allowed: impracticability must be explained.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The circumstances and how the error has been corrected","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Nothing, since the restatement was not made","es":""},"correct":false,"feedback":{"fr":"","en":"Impracticability must be explained.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000173","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"GENERIC","tested_point":"IAS8_IMPRACTICABLE_SITUATIONS","difficulty":"BEGINNER","estimated_time_s":75,"lesson_id":"LS.IAS8.000016","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000016","section_id":"three-situations"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"In which situations is restating a prior period impracticable (after every reasonable effort)?","es":""},"explanation":{"fr":"","en":"A restatement is impracticable, after every reasonable effort, if its effects cannot be determined, if it requires assumptions about management's intent at the time, or if it requires significant estimates without being able to distinguish objectively the information of the time (IAS 8, para. 5). Two weeks of work is not enough.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The effects cannot be determined","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Assumptions about management’s intent at the time would be needed","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Significant estimates would be needed without objectively distinguishing the information of the time","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The restatement would take two weeks of work","es":""},"correct":false,"feedback":{"fr":"","en":"Workload is not enough.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000174","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"APPLICATION","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_DATA_NOT_COLLECTED","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000016","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000016","section_id":"three-situations"},"references":["IAS 8 §50"],"exercise":{"prompt":{"fr":"","en":"When the necessary data were not collected and it is impracticable to recreate them, it may be impracticable to adjust comparative information.","es":""},"explanation":{"fr":"","en":"True: when the necessary data were not collected in the prior period and it is impracticable to recreate them, adjusting comparative information may be impracticable (IAS 8, para. 50).","es":""},"common_error":{"fr":"","en":"Invoking impracticability when the data exist or can be rebuilt.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000175","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"ANALYSIS","format":"CLASSIFICATION","context":"GENERIC","tested_point":"IAS8_HINDSIGHT_SORT","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IAS8.000016","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000016","section_id":"hindsight"},"references":["IAS 8 §52","IAS 8 §53"],"exercise":{"prompt":{"fr":"","en":"The N−1 statements were authorised on 15/03/N. To restate N−1, which information can be used?","es":""},"explanation":{"fr":"","en":"Information reflecting the circumstances of the time and available at authorisation (IAS 8, para. 52); no hindsight (IAS 8, para. 53).","es":""},"common_error":{"fr":"","en":"Using later information (hindsight) to estimate an amount of a prior period.","es":""},"format":"CLASSIFICATION","categories":[{"id":"USE","text":{"fr":"","en":"Usable","es":""}},{"id":"NO","text":{"fr":"","en":"Hindsight (excluded)","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Expert report of 10/02/N on the situation at 31/12/N−1","es":""},"category":"USE"},{"id":"I2","text":{"fr":"","en":"Market prices observed in September N","es":""},"category":"NO"},{"id":"I3","text":{"fr":"","en":"Board minutes of November N−1 on the planned use of an asset","es":""},"category":"USE"},{"id":"I4","text":{"fr":"","en":"Judgement delivered in October N","es":""},"category":"NO"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000176","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"GENERIC","tested_point":"IAS8_ESTIMATES_NOT_IMPRACTICABLE","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IAS8.000016","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000016","section_id":"three-situations"},"references":["IAS 8 §51"],"exercise":{"prompt":{"fr":"","en":"A restatement requires estimating an N−2 value after the event. Is it therefore impracticable?","es":""},"explanation":{"fr":"","en":"No: a restatement may require estimating a past value after the event; the estimate remains possible, with the aim of reflecting the circumstances of the time (IAS 8, para. 51). What is prohibited is using later information, not estimating.","es":""},"common_error":{"fr":"","en":"Inferring impracticability merely because estimates are needed.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No: estimation remains possible, with the objective of reflecting the circumstances of the time","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Yes, any estimate after the event is prohibited","es":""},"correct":false,"feedback":{"fr":"","en":"What is prohibited is the use of later information.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000177","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"CALCULATION","format":"CALCULATION","context":"CONSTRUCTION","tested_point":"IAS8_RESTATE_WITHOUT_HINDSIGHT","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IAS8.000016","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000016","section_id":"numeric-example"},"references":["IAS 8 §52","IAS 8 §53"],"exercise":{"prompt":{"fr":"","en":"N−1 error found in N: provision omitted. The opinion available when N−1 was approved estimated 220,000; the settlement in N amounts to 260,000. No tax effect (case data). Calculate.","es":""},"explanation":{"fr":"","en":"Provision restated in N−1: 220,000, the estimate based on the information of the time (IAS 8, paras. 52 and 53); the difference of 260,000 − 220,000 = 40,000 belongs to N.","es":""},"common_error":{"fr":"","en":"Restating N−1 with the N settlement amount.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Estimate available at the time","es":""},"value":"220000","unit":"EUR"},{"label":{"fr":"","en":"Settlement in N","es":""},"value":"260000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Restated provision at 31/12/N−1","es":""},"answer":220000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Expense of N","es":""},"answer":40000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S2","meaning":{"fr":"","en":"Expense of N","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Settlement in N","es":""},"value":260000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Estimate available at the time","es":""},"value":220000,"unit":"EUR"}],"result":40000,"unit":"EUR"}],"rationale":{"fr":"","en":"Provision restated in N−1: 220,000, the estimate based on the information of the time (IAS 8, paras. 52 and 53)","es":""},"references":["REF.IAS8.52","REF.IAS8.53"]}},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000178","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"CALCULATION","format":"FILL_BLANK","context":"RETAIL","tested_point":"IAS8_RESTATE_WITHOUT_HINDSIGHT","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS8.000016","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000016","section_id":"numeric-example"},"references":["IAS 8 §52","IAS 8 §53"],"exercise":{"prompt":{"fr":"","en":"N−1 error: inventory write-down omitted. On the prices known when N−1 was approved, net realisable value was 350,000 for a cost of 420,000; in N, the batch sold for 300,000. Complete.","es":""},"explanation":{"fr":"","en":"420,000 − 350,000 = 70,000 in N−1; 350,000 − 300,000 = 50,000 in N (IAS 8, paras. 52 and 53).","es":""},"common_error":{"fr":"","en":"Restating N−1 with the selling price achieved in N: the extra loss, known after finalisation, belongs to N.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"Write-down to restate in N−1: {{a}}; additional loss belonging to N: {{b}}.","es":""},"blanks":[{"id":"a","mode":"NUMBER","answer":70000,"tolerance":0},{"id":"b","mode":"NUMBER","answer":50000,"tolerance":0}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000179","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_IMPRACTICABILITY_CONSEQUENCES","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IAS8.000016","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000016","section_id":"consequences"},"references":["IAS 8 §44","IAS 8 §45"],"exercise":{"prompt":{"fr":"","en":"If it is impracticable to determine the cumulative effect of an error at the beginning of the current period, the entity corrects the error prospectively from the earliest date practicable.","es":""},"explanation":{"fr":"","en":"True: if it is impracticable to determine the cumulative effect of the error on all prior periods at the start of the current period, the entity restates comparative information to correct the error prospectively from the earliest date practicable (IAS 8, para. 45).","es":""},"common_error":{"fr":"","en":"Giving up any correction when the cumulative effect cannot be determined: the correction becomes prospective.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000180","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"GENERIC","tested_point":"IAS8_IMPRACTICABILITY_ERRORS","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IAS8.000016","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000016","section_id":"pitfalls"},"references":["IAS 8 §5","IAS 8 §51","IAS 8 §52","IAS 8 §53"],"exercise":{"prompt":{"fr":"","en":"Review the impracticability memo. Spot the errors.","es":""},"explanation":{"fr":"","en":"Statements 1 and 2 are wrong: needing estimates does not alone make restatement impracticable, as estimates after the event remain possible (IAS 8, para. 51), and using current market prices for N−2 would be prohibited hindsight (IAS 8, para. 53). Statement 3 complies: destroyed data and documented searches support impracticability (IAS 8, para. 5).","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"1. The restatement would require estimates: it is therefore impracticable.","es":""},"erroneous":true,"correction":{"fr":"","en":"Estimates after the event remain possible (IAS 8, para. 51).","es":""}},{"id":"S2","text":{"fr":"","en":"2. To estimate N−2, we use current market prices, which are more reliable.","es":""},"erroneous":true,"correction":{"fr":"","en":"Hindsight is prohibited (IAS 8, para. 53).","es":""}},{"id":"S3","text":{"fr":"","en":"3. N−3 data were destroyed; our searches are documented.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000181","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"FINANCE","tested_point":"IAS8_IMPRACTICABILITY_CASE","difficulty":"EXPERT","estimated_time_s":300,"lesson_id":"LS.IAS8.000016","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000016","section_id":"judgment"},"references":["IAS 8 §5","IAS 8 §44","IAS 8 §52","IAS 8 §53"],"exercise":{"prompt":{"fr":"","en":"Analyse the file of Druvelle Capital, a fictitious investment company.","es":""},"explanation":{"fr":"","en":"Graduated fallback without hindsight, circumstances disclosed (IAS 8, paras. 44, 49, 52 and 53).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"In N, Druvelle discovers that unlisted securities have been wrongly measured since N−3 (policy misapplied). For N−1, dated and retained valuation reports allow values to be recalculated; for N−3 and N−2, no market data were retained and it is impossible to distinguish objectively what was known at the time. Comparative presented: N−1.","es":""},"parts":[{"prompt":{"fr":"","en":"Is restating N−3 and N−2 impracticable?","es":""},"explanation":{"fr":"","en":"Yes: for N−3 and N−2, no market data were kept and what was known at the time cannot be distinguished objectively; restatement would require significant estimates without that distinction, which makes it impracticable (IAS 8, paras. 5 and 52). Using current prices would be prohibited hindsight (IAS 8, para. 53).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Yes: significant estimates without objective distinction of the information of the time","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"No: current prices can simply be used","es":""},"correct":false,"feedback":{"fr":"","en":"Hindsight is prohibited.","es":""}}],"id":"P1","dimension":"PROFESSIONAL_JUDGMENT"},{"prompt":{"fr":"","en":"Consequence for the correction?","es":""},"explanation":{"fr":"","en":"Druvelle restates the opening balances of the earliest practicable period, N−1, for which dated reports allow recomputation (IAS 8, para. 44). Correcting nothing is not an option: the correction goes as far back as practicable.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Restate the opening balances of the earliest practicable period","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Correct nothing","es":""},"correct":false,"feedback":{"fr":"","en":"The correction goes as far back as practicable.","es":""}}],"id":"P2","dimension":"APPLICATION"},{"prompt":{"fr":"","en":"The note must disclose the circumstances of impracticability and how the error was corrected.","es":""},"explanation":{"fr":"","en":"True: when restating a prior period is impracticable, the note gives the circumstances of that impracticability and how and from when the error was corrected (IAS 8, para. 49).","es":""},"common_error":{"fr":"","en":"Correcting without explaining why earlier periods could not be restated.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P3","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000182","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.OBJECTIVE"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_V2027_OBJECTIVE_KEPT","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS8.000017","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000017","section_id":"understand"},"references":["IAS 8 §1"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. The objective of IAS 8 (relevance, reliability, comparability) is kept; the Standard now prescribes the basis of preparation of financial statements.","es":""},"explanation":{"fr":"","en":"True: para. 1 keeps the same purpose and widens what is prescribed to general matters.","es":""},"common_error":{"fr":"","en":"Believing that the objective of IAS 8 is replaced by that of IFRS 18.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000183","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"GENERIC","tested_point":"IAS8_V2027_WHICH_STANDARD","difficulty":"BEGINNER","estimated_time_s":75,"lesson_id":"LS.IAS8.000017","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000017","section_id":"rule-scope"},"references":["IAS 8 §3","IFRS 18"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. In which standard is each requirement read in 2027?","es":""},"explanation":{"fr":"","en":"IAS 8 receives from IAS 1 fair presentation and compliance, going concern, the accrual basis and the disclosures on policies, judgements and uncertainty (paras. 6A to 31I); comparatives and subtotals belong to IFRS 18.","es":""},"common_error":{"fr":"","en":"Sending every former IAS 1 requirement to IFRS 18.","es":""},"format":"CLASSIFICATION","categories":[{"id":"IAS8","text":{"fr":"","en":"IAS 8","es":""}},{"id":"IFRS18","text":{"fr":"","en":"IFRS 18","es":""}}],"items":[{"id":"a","text":{"fr":"","en":"Going concern assessment","es":""},"category":"IAS8"},{"id":"b","text":{"fr":"","en":"Statement of compliance with IFRS","es":""},"category":"IAS8"},{"id":"c","text":{"fr":"","en":"Comparative information for the previous period","es":""},"category":"IFRS18"},{"id":"d","text":{"fr":"","en":"Material accounting policy information","es":""},"category":"IAS8"},{"id":"e","text":{"fr":"","en":"Operating profit or loss subtotal","es":""},"category":"IFRS18"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000184","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"GENERIC","tested_point":"IAS8_V2027_PARAS_2_3A","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS8.000017","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000017","section_id":"rule-scope"},"references":["IAS 8","IAS 8 §3"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. What happens to IAS 8 para. 2 in the 2027 version?","es":""},"explanation":{"fr":"","en":"Para. 2 deleted (IAS 8, para. 54J); policy disclosures are in paras. 27A to 27I.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"It is deleted: IAS 8 itself requires the policy disclosures","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"It now refers to IFRS 18","es":""},"correct":false,"feedback":{"fr":"","en":"Para. 2 is not rewritten: it is deleted, and the requirements are in IAS 8 paras. 27A to 27I.","es":""}},{"id":"c","text":{"fr":"","en":"It is kept unchanged","es":""},"correct":false,"feedback":{"fr":"","en":"It referred to IAS 1, which IFRS 18 replaces: it could not stay as it was.","es":""}},{"id":"d","text":{"fr":"","en":"It becomes para. 3A on interim statements","es":""},"correct":false,"feedback":{"fr":"","en":"Para. 3A is new and concerns condensed interim statements; it does not restate para. 2.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000185","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"GENERIC","tested_point":"IAS8_V2027_MATERIAL_SOURCE","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS8.000017","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000017","section_id":"rule-definitions"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Complete.","es":""},"explanation":{"fr":"","en":"Para. 5: the definition comes from IFRS 18 and its meaning is unchanged; it covers both the nature and the amount of information.","es":""},"common_error":{"fr":"","en":"Still citing IAS 1 as the source of the definition.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"In 2027, material is defined in Appendix A of {{b1}} and used in IAS 8 with {{b2}}.","es":""},"blanks":[{"id":"b1","mode":"CHOICE","choices":[{"id":"x","text":{"fr":"","en":"IFRS 18","es":""}},{"id":"y","text":{"fr":"","en":"IAS 1","es":""}},{"id":"z","text":{"fr":"","en":"IAS 34","es":""}}],"answer":"x"},{"id":"b2","mode":"CHOICE","choices":[{"id":"p","text":{"fr":"","en":"the same meaning","es":""}},{"id":"q","text":{"fr":"","en":"a meaning limited to amounts","es":""}}],"answer":"p"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000186","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"APPLICATION","format":"CLASSIFICATION","context":"MANUFACTURING","tested_point":"IAS8_V2027_WHICH_VERSION","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000017","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000017","section_id":"how-version"},"references":["IFRS 18 §C1","IAS 8 §3"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Classify each period by the version of IAS 8 that applies (early-application choices are case data).","es":""},"explanation":{"fr":"","en":"The 2027 version applies to periods beginning on or after 1 January 2027, or earlier with early application of IFRS 18 (IAS 8, para. 54J; IFRS 18, para. C1).","es":""},"common_error":{"fr":"","en":"Using the year-end date instead of the start date.","es":""},"format":"CLASSIFICATION","categories":[{"id":"CUR","text":{"fr":"","en":"Current version","es":""}},{"id":"NEW","text":{"fr":"","en":"2027 version","es":""}}],"items":[{"id":"a","text":{"fr":"","en":"Period beginning 1 January 2026, no early application of IFRS 18","es":""},"category":"CUR"},{"id":"b","text":{"fr":"","en":"Period beginning 1 January 2027","es":""},"category":"NEW"},{"id":"c","text":{"fr":"","en":"Period beginning 1 July 2026, IFRS 18 applied early and disclosed","es":""},"category":"NEW"},{"id":"d","text":{"fr":"","en":"Period beginning 1 April 2027","es":""},"category":"NEW"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000187","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"RULE_KNOWLEDGE","format":"ERROR_SPOT","context":"GENERIC","tested_point":"IAS8_V2027_TRANSITION","difficulty":"ADVANCED","estimated_time_s":60,"lesson_id":"LS.IAS8.000017","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000017","section_id":"how-version"},"references":["IFRS 18 §C2","IAS 8 §3"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Spot the wrong statements about the transition to IFRS 18 and amended IAS 8.","es":""},"explanation":{"fr":"","en":"Retrospective transition under IAS 8 without the para. 28(f) disclosure (IFRS 18, para. C2); IAS 8 amendments tied to applying IFRS 18 (para. 54J).","es":""},"format":"ERROR_SPOT","statements":[{"id":"s1","text":{"fr":"","en":"IFRS 18 applies retrospectively under IAS 8.","es":""},"erroneous":false},{"id":"s2","text":{"fr":"","en":"The quantitative information of IAS 8 para. 28(f) is mandatory on first applying IFRS 18.","es":""},"erroneous":true,"correction":{"fr":"","en":"IFRS 18, para. C2 exempts the entity from presenting this quantitative information.","es":""}},{"id":"s3","text":{"fr":"","en":"The IAS 8 amendments may be applied before IFRS 18, independently.","es":""},"erroneous":true,"correction":{"fr":"","en":"They apply when the entity applies IFRS 18 (para. 54J), not separately.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000188","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_V2027_FAIR_PRESENTATION_PRESUMPTION","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS8.000018","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000018","section_id":"understand"},"references":["IAS 1 §15"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Applying IFRS, with additional disclosure when necessary, is presumed to achieve fair presentation (IAS 8, para. 6A).","es":""},"explanation":{"fr":"","en":"True: this is the para. 6A presumption, taken over from IAS 1, para. 15.","es":""},"common_error":{"fr":"","en":"Thinking that fair presentation requires departing from IFRS.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000189","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"RETAIL","tested_point":"IAS8_V2027_COMPLIANCE_ALL_REQUIREMENTS","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IAS8.000018","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000018","section_id":"rule-compliance"},"references":["IAS 1 §16"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Lorvane SA (fictitious) applies every IFRS except IFRS 16, which it considers too costly (case data). What may it write in its notes?","es":""},"explanation":{"fr":"","en":"Para. 6B: the explicit and unreserved statement is possible only if every IFRS requirement is met; cost is not a ground for departure.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"No statement of compliance with IFRS","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"\"Compliant with IFRS, except IFRS 16\"","es":""},"correct":false,"feedback":{"fr":"","en":"Partial compliance is not compliance: every requirement must be met (para. 6B).","es":""}},{"id":"c","text":{"fr":"","en":"\"Compliant with IFRS\", with a note on IFRS 16","es":""},"correct":false,"feedback":{"fr":"","en":"A note does not cure an inappropriate policy (para. 6D).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000190","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"ENERGY","tested_point":"IAS8_V2027_ADDITIONAL_DISCLOSURE","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IAS8.000018","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000018","section_id":"rule-compliance"},"references":["IAS 1 §15"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. A material transaction of Pellmar SA (fictitious) complies with IFRS, but the specific requirements are not enough to make its effect understood (case data). What does fair presentation require?","es":""},"explanation":{"fr":"","en":"Para. 6C(c): fair presentation requires additional disclosures when complying with specific requirements is not enough.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"Provide additional disclosures","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"Change accounting policy","es":""},"correct":false,"feedback":{"fr":"","en":"Nothing suggests the policy is inappropriate: the need is for information.","es":""}},{"id":"c","text":{"fr":"","en":"Depart from the requirement","es":""},"correct":false,"feedback":{"fr":"","en":"Departure is reserved for extremely rare cases where the requirement would be misleading (para. 6E).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000191","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"GENERIC","tested_point":"IAS8_V2027_DEPARTURE_DISCLOSURES","difficulty":"ADVANCED","estimated_time_s":90,"lesson_id":"LS.IAS8.000018","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000018","section_id":"rule-departure"},"references":["IAS 1 §19"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. An entity departs from a requirement under para. 6E. Which disclosures does it give?","es":""},"explanation":{"fr":"","en":"Para. 6F (a) to (d): conclusion, compliance except for the departure, details of the departure and financial effect per period.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"Management's conclusion on fair presentation","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"The standard, the nature of the departure, the reason and the treatment adopted","es":""},"correct":true},{"id":"c","text":{"fr":"","en":"The financial effect of the departure for each period presented","es":""},"correct":true},{"id":"d","text":{"fr":"","en":"A statement that the statements comply with no IFRS","es":""},"correct":false,"feedback":{"fr":"","en":"The entity states instead that it complies with IFRS except for the requirement departed from (para. 6F(b)).","es":""}},{"id":"e","text":{"fr":"","en":"Next year's budgets","es":""},"correct":false,"feedback":{"fr":"","en":"Budgets are not among the para. 6F disclosures.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000192","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"RECOGNITION","format":"MATCHING","context":"GENERIC","tested_point":"IAS8_V2027_DEPARTURE_REGULATOR","difficulty":"ADVANCED","estimated_time_s":90,"lesson_id":"LS.IAS8.000018","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000018","section_id":"rule-departure"},"references":["IAS 1 §19"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Match each situation with its consequence (the misleading nature is a management conclusion, case data).","es":""},"explanation":{"fr":"","en":"Paras. 6E and 6F (departure permitted), 6I (departure prohibited), 6G (effect of a prior departure).","es":""},"common_error":{"fr":"","en":"Departing even when the regulatory framework prohibits it.","es":""},"format":"MATCHING","left":[{"id":"l1","text":{"fr":"","en":"Requirement judged misleading, regulatory framework does not prohibit departure","es":""}},{"id":"l2","text":{"fr":"","en":"Requirement judged misleading, regulatory framework prohibits departure","es":""}},{"id":"l3","text":{"fr":"","en":"Prior-period departure still affecting the amounts","es":""}}],"right":[{"id":"r1","text":{"fr":"","en":"Depart and give the para. 6F disclosures","es":""}},{"id":"r2","text":{"fr":"","en":"Apply the requirement and reduce the misleading aspect through disclosure (para. 6I)","es":""}},{"id":"r3","text":{"fr":"","en":"Give the para. 6F(c) and (d) disclosures (para. 6G)","es":""}}],"pairs":[{"left":"l1","right":"r1"},{"left":"l2","right":"r2"},{"left":"l3","right":"r3"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000193","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"PROFESSIONAL_JUDGMENT","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_V2027_REBUTTABLE_PRESUMPTION","difficulty":"EXPERT","estimated_time_s":90,"lesson_id":"LS.IAS8.000018","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000018","section_id":"judgment"},"references":["IAS 1 §19"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. If other entities in similar circumstances comply with the requirement, there is a rebuttable presumption that complying is not misleading.","es":""},"explanation":{"fr":"","en":"True: this is the rebuttable presumption of para. 6J(b); management must show how its situation differs.","es":""},"common_error":{"fr":"","en":"Judging the requirement misleading without comparing with other entities.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000194","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"MANUFACTURING","tested_point":"IAS8_V2027_NOTE_DOES_NOT_CURE","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000018","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000018","section_id":"rule-compliance"},"references":["IAS 1 §15","IAS 1 §16"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Read the note drafted for Tervik SA (fictitious) and spot the wrong statements.","es":""},"explanation":{"fr":"","en":"Paras. 6B and 6D: no cure by disclosure; 2027 source: IAS 8.","es":""},"format":"ERROR_SPOT","statements":[{"id":"s1","text":{"fr":"","en":"\"Our financial statements comply with IFRS.\"","es":""},"erroneous":false},{"id":"s2","text":{"fr":"","en":"\"Inventories are measured using a method IAS 2 does not permit; this note is enough to make the accounts fair.\"","es":""},"erroneous":true,"correction":{"fr":"","en":"An inappropriate policy is not cured by describing it in a note (para. 6D); the compliance statement also becomes impossible (para. 6B).","es":""}},{"id":"s3","text":{"fr":"","en":"\"These rules come from IAS 1.\"","es":""},"erroneous":true,"correction":{"fr":"","en":"In 2027, fair presentation and compliance are required by IAS 8 (paras. 6A to 6D); IAS 1 is replaced.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000195","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"GENERIC","tested_point":"IAS8_V2027_GC_WHERE","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IAS8.000019","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000019","section_id":"understand"},"references":["IAS 1 §25"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Where is the requirement to assess going concern found in 2027?","es":""},"explanation":{"fr":"","en":"The going concern provisions move from IAS 1 to IAS 8 (paras. 6K and 6L).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"IAS 8, para. 6K","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"IAS 1, para. 25","es":""},"correct":false,"feedback":{"fr":"","en":"That was its location before IFRS 18; the 2026 text states it has become IAS 8 para. 6K.","es":""}},{"id":"c","text":{"fr":"","en":"IFRS 18, para. 69","es":""},"correct":false,"feedback":{"fr":"","en":"IFRS 18 para. 69 concerns the subtotals of profit or loss.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000196","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"GENERIC","tested_point":"IAS8_V2027_GC_THREE_OUTCOMES","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000019","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000019","section_id":"rule-6k"},"references":["IAS 1 §25"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Classify each situation (intentions and forecasts are case data).","es":""},"explanation":{"fr":"","en":"Para. 6K: going concern basis unless there is an intention to liquidate or cease, or no realistic alternative; material uncertainties disclosed; another basis disclosed with its reason.","es":""},"common_error":{"fr":"","en":"Abandoning the basis as soon as an uncertainty exists.","es":""},"format":"CLASSIFICATION","categories":[{"id":"GC","text":{"fr":"","en":"Going concern, no specific disclosure","es":""}},{"id":"GCU","text":{"fr":"","en":"Going concern, with material uncertainties disclosed","es":""}},{"id":"NGC","text":{"fr":"","en":"Basis other than going concern, disclosed","es":""}}],"items":[{"id":"a","text":{"fr":"","en":"Profitable entity, finance available, no intention to cease","es":""},"category":"GC"},{"id":"b","text":{"fr":"","en":"The board has decided to liquidate the entity","es":""},"category":"NGC"},{"id":"c","text":{"fr":"","en":"Uncertain refinancing of a major debt, no decision to cease","es":""},"category":"GCU"},{"id":"d","text":{"fr":"","en":"No realistic alternative but to cease trading","es":""},"category":"NGC"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000197","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"LOGISTICS","tested_point":"IAS8_V2027_GC_HORIZON","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IAS8.000019","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000019","section_id":"rule-6l"},"references":["IAS 1 §26"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Year end 31 December 2027. Over what minimum period does the management of Dalvik SA (fictitious) look at the future?","es":""},"explanation":{"fr":"","en":"Para. 6L: at least, but not only, twelve months from the end of the reporting period.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"At least until 31 December 2028, without being limited to it","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"Only until the date of authorisation for issue","es":""},"correct":false,"feedback":{"fr":"","en":"The horizon is at least twelve months after the end of the reporting period (para. 6L).","es":""}},{"id":"c","text":{"fr":"","en":"Exactly twelve months, no information beyond","es":""},"correct":false,"feedback":{"fr":"","en":"Twelve months is a minimum: all available information about the future is taken into account.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000198","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"RECOGNITION","format":"SINGLE_CHOICE","context":"GENERIC","tested_point":"IAS8_V2027_ACCRUAL_EXCEPTION","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS8.000019","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000019","section_id":"rule-accrual"},"references":["IAS 1 §27"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Which information is not prepared on the accrual basis?","es":""},"explanation":{"fr":"","en":"Para. 6M: everything is prepared on the accrual basis except cash flow information.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"The statement of cash flows","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"The statement of profit or loss","es":""},"correct":false,"feedback":{"fr":"","en":"Income and expenses are recognised there on the accrual basis (paras. 6M, 6N).","es":""}},{"id":"c","text":{"fr":"","en":"The statement of financial position","es":""},"correct":false,"feedback":{"fr":"","en":"Assets and liabilities follow the definitions and criteria of the Conceptual Framework (para. 6N).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000199","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_V2027_GC_INTERIM","difficulty":"ADVANCED","estimated_time_s":45,"lesson_id":"LS.IAS8.000019","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000019","section_id":"rule-accrual"},"references":["IAS 1 §25","IAS 10 §16"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. IAS 8 paras. 6A to 6N, including going concern, also apply to condensed interim financial statements.","es":""},"explanation":{"fr":"","en":"True: new para. 3A says so; the presentation and disclosures of interim statements remain governed by IAS 34.","es":""},"common_error":{"fr":"","en":"Believing that going concern is assessed only at the annual year end.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000200","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"APPLICATION","format":"ORDERING","context":"GENERIC","tested_point":"IAS8_V2027_GC_STEPS","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IAS8.000019","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000019","section_id":"rule-6k"},"references":["IAS 1 §25"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Put management's approach in order.","es":""},"explanation":{"fr":"","en":"Paras. 6L then 6K give this logic: gather information, assess the basis, identify uncertainties, disclose.","es":""},"common_error":{"fr":"","en":"Drafting the note before assessing the basis.","es":""},"format":"ORDERING","steps":[{"id":"s1","text":{"fr":"","en":"Gather available information over at least twelve months after the period end","es":""}},{"id":"s2","text":{"fr":"","en":"Check whether there is an intention or need to liquidate or cease trading","es":""}},{"id":"s3","text":{"fr":"","en":"Identify material uncertainties casting significant doubt","es":""}},{"id":"s4","text":{"fr":"","en":"Conclude on the basis of preparation and draft the disclosures","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000201","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"CONSTRUCTION","tested_point":"IAS8_V2027_GC_MINICASE","difficulty":"EXPERT","estimated_time_s":240,"lesson_id":"LS.IAS8.000019","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000019","section_id":"judgment"},"references":["IAS 1 §25","IAS 1 §26"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Read the Brovane SA case and answer.","es":""},"explanation":{"fr":"","en":"Horizon of at least twelve months (para. 6L); material uncertainty: basis kept and disclosure (para. 6K). Forecasts and the assessment of doubt are management data and judgement.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Brovane SA (fictitious), a construction company, has a year end of 31 December 2027. Case data: a loss for the year, a bank loan of 8 million repayable in March 2029, refinancing talks under way with no signed agreement; management has no intention of ceasing trading and its forecasts show sufficient cash until end-2028 if the refinancing succeeds.","es":""},"parts":[{"prompt":{"fr":"","en":"The March 2029 maturity, beyond twelve months after the period end, may be taken into account.","es":""},"explanation":{"fr":"","en":"True: the twelve-month horizon is a minimum (para. 6L); known information beyond it is relevant.","es":""},"common_error":{"fr":"","en":"Ignoring the maturity because it falls after twelve months.","es":""},"format":"TRUE_FALSE","answer":true,"id":"p1","dimension":"RULE_KNOWLEDGE"},{"prompt":{"fr":"","en":"If management judges that the outcome of the refinancing casts significant doubt on going concern, what does IAS 8 require?","es":""},"explanation":{"fr":"","en":"With these data, the basis is kept; qualifying the uncertainty is a judgement, and it leads to a disclosure (para. 6K).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"Keep the going concern basis and disclose the material uncertainty","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"Prepare the statements on a liquidation basis","es":""},"correct":false,"feedback":{"fr":"","en":"There is neither an intention to cease nor an absence of realistic alternative (para. 6K).","es":""}},{"id":"c","text":{"fr":"","en":"Disclose nothing, since management remains optimistic","es":""},"correct":false,"feedback":{"fr":"","en":"A material uncertainty known to management is disclosed (para. 6K).","es":""}}],"id":"p2","dimension":"PROFESSIONAL_JUDGMENT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000202","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_V2027_API_DEFINITION","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS8.000020","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000020","section_id":"understand"},"references":["IAS 1 §117"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. All policy information relating to material transactions is necessarily material.","es":""},"explanation":{"fr":"","en":"False: para. 27B states that not all information on material transactions is itself material.","es":""},"common_error":{"fr":"","en":"Inferring materiality of the information from the amount of the transactions alone.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000203","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"PHARMA","tested_point":"IAS8_V2027_API_NATURE","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IAS8.000020","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000020","section_id":"understand"},"references":["IAS 1 §117"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. The amounts of a transaction of Ithenor SA (fictitious) are small, but its nature is unusual and important to users (case data). Can information about its policy be material?","es":""},"explanation":{"fr":"","en":"Para. 27B: nature or amount; materiality remains an entity judgement.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"Yes, because of the nature of the transaction","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"No, only amounts count","es":""},"correct":false,"feedback":{"fr":"","en":"The nature of a transaction can make the information material even if the amounts are not (para. 27B).","es":""}},{"id":"c","text":{"fr":"","en":"No, unless another IFRS requires it","es":""},"correct":false,"feedback":{"fr":"","en":"Materiality is first judged under IAS 8; other IFRS requirements come on top (para. 27F).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000204","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"RECOGNITION","format":"MULTIPLE_CHOICE","context":"GENERIC","tested_point":"IAS8_V2027_API_EXAMPLES","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IAS8.000020","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000020","section_id":"rule-27c"},"references":["IAS 1 §117","IAS 8 §10"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. For material transactions, which situations normally make policy information material (para. 27C)?","es":""},"explanation":{"fr":"","en":"Examples (a), (c) and (e) of para. 27C; an indicative list, judgement is still needed.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"The policy changed with a material effect","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"The policy was developed in the absence of an applicable IFRS","es":""},"correct":true},{"id":"c","text":{"fr":"","en":"The accounting is complex","es":""},"correct":true},{"id":"d","text":{"fr":"","en":"The policy is described word for word in the standard","es":""},"correct":false,"feedback":{"fr":"","en":"Restating the standard is not a reason: para. 27D favours entity-specific information.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000205","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"TELECOM","tested_point":"IAS8_V2027_API_OBSCURE","difficulty":"ADVANCED","estimated_time_s":90,"lesson_id":"LS.IAS8.000020","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000020","section_id":"rule-27c"},"references":["IAS 1 §117"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Spot the wrong statements in this draft note of Quentar SA (fictitious).","es":""},"explanation":{"fr":"","en":"Paras. 27D to 27F: entity-specific information, no obscuring, other IFRS requirements kept.","es":""},"format":"ERROR_SPOT","statements":[{"id":"s1","text":{"fr":"","en":"\"We describe how we account for our subscription contracts, our main source of revenue.\"","es":""},"erroneous":false},{"id":"s2","text":{"fr":"","en":"\"We add thirty pages of general policies for immaterial transactions; this does not hinder reading.\"","es":""},"erroneous":true,"correction":{"fr":"","en":"Immaterial information must not obscure material information (para. 27E).","es":""}},{"id":"s3","text":{"fr":"","en":"\"As these policies are immaterial, we also omit the disclosures IFRS 7 requires.\"","es":""},"erroneous":true,"correction":{"fr":"","en":"Concluding that policy information is immaterial does not remove the requirements of other IFRS (para. 27F).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000206","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"FINANCE","tested_point":"IAS8_V2027_JUDGEMENT_VS_ESTIMATE","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IAS8.000020","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000020","section_id":"rule-27g"},"references":["IAS 1 §122","IAS 1 §125"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Classify each item: application judgement (para. 27G) or source of estimation uncertainty (para. 31A).","es":""},"explanation":{"fr":"","en":"27G: how to apply the policy (examples in 27H); 31A: assumptions about the future that make an amount uncertain (examples in 31B).","es":""},"common_error":{"fr":"","en":"Filing every difficult decision under estimates.","es":""},"format":"CLASSIFICATION","categories":[{"id":"J","text":{"fr":"","en":"Application judgement (27G)","es":""}},{"id":"E","text":{"fr":"","en":"Estimation uncertainty (31A)","es":""}}],"items":[{"id":"a","text":{"fr":"","en":"Deciding whether a sale of goods is in substance a financing","es":""},"category":"J"},{"id":"b","text":{"fr":"","en":"Discount rate of a pension obligation","es":""},"category":"E"},{"id":"c","text":{"fr":"","en":"Deciding whether a financial asset's cash flows are solely principal and interest","es":""},"category":"J"},{"id":"d","text":{"fr":"","en":"Outcome of pending litigation on which a provision depends","es":""},"category":"E"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000207","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"IAS8_V2027_JUDGEMENT_OTHER_IFRS","difficulty":"ADVANCED","estimated_time_s":45,"lesson_id":"LS.IAS8.000020","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000020","section_id":"rule-27g"},"references":["IAS 1 §122"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. The judgement on control of another entity may also be required by IFRS 12, in addition to IAS 8.","es":""},"explanation":{"fr":"","en":"True: para. 27I cites IFRS 12 (control) and IAS 40 (classification of property) among the other IFRS requiring some judgements.","es":""},"common_error":{"fr":"","en":"Thinking the IAS 8 requirement replaces those of other IFRS.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000208","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"REAL_ESTATE","tested_point":"IAS8_V2027_API_MINICASE","difficulty":"EXPERT","estimated_time_s":240,"lesson_id":"LS.IAS8.000020","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000020","section_id":"rule-27g"},"references":["IAS 1 §117","IAS 1 §122","IAS 8 §10"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Read the Marvelle SA case and answer.","es":""},"explanation":{"fr":"","en":"Material information on the policy chosen among options (27C); application judgement disclosed (27G, 27I). Materiality and the effect of judgements are case data.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Marvelle SA (fictitious), a property company, has a year end of 31 December 2027. Case data: its material investment properties are measured at fair value, an option chosen by the entity; it also rents a small, immaterial storage unit; it had to judge whether a building partly occupied by its staff is investment property, a judgement with the most significant effect on its accounts.","es":""},"parts":[{"prompt":{"fr":"","en":"Which policy information is normally material?","es":""},"explanation":{"fr":"","en":"Policy chosen among options for material transactions: example of para. 27C(b).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"The choice of fair value for investment property","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"The accounting policy for the storage unit","es":""},"correct":false,"feedback":{"fr":"","en":"It concerns an immaterial transaction and need not be disclosed (para. 27B).","es":""}}],"id":"p1","dimension":"APPLICATION"},{"prompt":{"fr":"","en":"The judgement on classifying the partly occupied building is disclosed among the judgements made in applying policies.","es":""},"explanation":{"fr":"","en":"True: an application judgement with the most significant effect (para. 27G), which IAS 40 also requires to be explained (para. 27I).","es":""},"common_error":{"fr":"","en":"Treating it as an estimation uncertainty.","es":""},"format":"TRUE_FALSE","answer":true,"id":"p2","dimension":"DOCUMENTATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000209","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"GENERIC","tested_point":"IAS8_V2027_EU_DEFINITION","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IAS8.000021","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000021","section_id":"understand"},"references":["IAS 1 §125"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Complete.","es":""},"explanation":{"fr":"","en":"Para. 31A: next-financial-year horizon; nature and carrying amount of the assets and liabilities concerned.","es":""},"common_error":{"fr":"","en":"Extending the disclosure to a long horizon or attaching budgets.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"The entity discloses the major sources of uncertainty with a significant risk of a material adjustment to carrying amounts within {{b1}}, with the nature and {{b2}} of the assets and liabilities concerned.","es":""},"blanks":[{"id":"b1","mode":"CHOICE","choices":[{"id":"x","text":{"fr":"","en":"the next financial year","es":""}},{"id":"y","text":{"fr":"","en":"the next five years","es":""}},{"id":"z","text":{"fr":"","en":"the past period","es":""}}],"answer":"x"},{"id":"b2","mode":"CHOICE","choices":[{"id":"p","text":{"fr":"","en":"the carrying amount","es":""}},{"id":"q","text":{"fr":"","en":"the budget","es":""}}],"answer":"p"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000210","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DISCLOSURE"],"dimension":"RECOGNITION","format":"MULTIPLE_CHOICE","context":"GENERIC","tested_point":"IAS8_V2027_EU_SOURCES","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IAS8.000021","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000021","section_id":"understand"},"references":["IAS 1 §125"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Which are examples of sources of uncertainty cited by para. 31B?","es":""},"explanation":{"fr":"","en":"Para. 31B: future-oriented estimates, in the absence of recently observed market prices.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"Recoverable amount of classes of property, plant and equipment","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"Technological obsolescence of inventories","es":""},"correct":true},{"id":"c","text":{"fr":"","en":"Pension obligations","es":""},"correct":true},{"id":"d","text":{"fr":"","en":"Cash on hand","es":""},"correct":false,"feedback":{"fr":"","en":"A cash balance depends on no assumption about the future.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000211","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"FINANCE","tested_point":"IAS8_V2027_EU_QUOTED_PRICE","difficulty":"INTERMEDIATE","estimated_time_s":45,"lesson_id":"LS.IAS8.000021","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000021","section_id":"rule-31d"},"references":["IAS 1 §125"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Bonds measured at the quoted price in an active market for identical securities do not call for the para. 31A disclosure, even if their price may vary a lot.","es":""},"explanation":{"fr":"","en":"True: para. 31D; any change would not come from the entity's assumptions at the period end.","es":""},"common_error":{"fr":"","en":"Confusing market volatility with estimation uncertainty.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000212","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DISCLOSURE"],"dimension":"RECOGNITION","format":"MATCHING","context":"GENERIC","tested_point":"IAS8_V2027_EU_FORM","difficulty":"ADVANCED","estimated_time_s":90,"lesson_id":"LS.IAS8.000021","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000021","section_id":"rule-31d"},"references":["IAS 1 §125"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Match each case with the expected disclosure.","es":""},"explanation":{"fr":"","en":"Paras. 31E (form), 31G (effect not quantifiable), 31I (other IFRS).","es":""},"common_error":{"fr":"","en":"Giving up any disclosure when the effect cannot be quantified.","es":""},"format":"MATCHING","left":[{"id":"l1","text":{"fr":"","en":"Quantifiable effect of an assumption","es":""}},{"id":"l2","text":{"fr":"","en":"Effect impossible to quantify","es":""}},{"id":"l3","text":{"fr":"","en":"Assumption already required by IAS 37 for a class of provisions","es":""}}],"right":[{"id":"r1","text":{"fr":"","en":"Sensitivity or range of reasonably possible outcomes","es":""}},{"id":"r2","text":{"fr":"","en":"Statement that a material adjustment is reasonably possible, with nature and carrying amount","es":""}},{"id":"r3","text":{"fr":"","en":"Disclosure given under IAS 37, without duplication","es":""}}],"pairs":[{"left":"l1","right":"r1"},{"left":"l2","right":"r2"},{"left":"l3","right":"r3"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000213","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DISCLOSURE"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"GENERIC","tested_point":"IAS8_V2027_EU_VS_CHANGE","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IAS8.000021","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000021","section_id":"rule-changes"},"references":["IAS 8 §39","IAS 1 §125"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Classify each disclosure: on a source of uncertainty (para. 31A) or on a change in estimate already recognised (para. 39).","es":""},"explanation":{"fr":"","en":"31A anticipates a possible adjustment; 39 describes a change in estimate that has happened (rule unchanged).","es":""},"common_error":{"fr":"","en":"Mixing the forward-looking disclosure with the disclosure on a change that has occurred.","es":""},"format":"CLASSIFICATION","categories":[{"id":"U","text":{"fr":"","en":"Source of uncertainty (31A)","es":""}},{"id":"C","text":{"fr":"","en":"Change in estimate (39)","es":""}}],"items":[{"id":"a","text":{"fr":"","en":"A warranty provision could vary strongly next year depending on the return rate","es":""},"category":"U"},{"id":"b","text":{"fr":"","en":"Useful life revised this year, effect on this year's depreciation","es":""},"category":"C"},{"id":"c","text":{"fr":"","en":"Energy price assumption of a sensitive impairment test","es":""},"category":"U"}]},"scope":"CORE_STUDENT"},{"key":"LX.IAS8.000214","source":"V2","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DISCLOSURE"],"dimension":"DOCUMENTATION","format":"MINI_CASE","context":"ENERGY","tested_point":"IAS8_V2027_EU_MINICASE","difficulty":"EXPERT","estimated_time_s":240,"lesson_id":"LS.IAS8.000021","review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000021","section_id":"example"},"references":["IAS 1 §125","IAS 8 §32"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 version, annual periods beginning on or after 1 January 2027. Read the Solvenna SA case and answer.","es":""},"explanation":{"fr":"","en":"Nature, carrying amount and sensitivity for the asset at risk (31A, 31E); quoted prices excluded (31D). Amounts and sensitivity are case data.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Solvenna SA (fictitious), an energy producer, has a year end of 31 December 2027. Case data: a power plant has a carrying amount of 40 million after an impairment test very sensitive to the future electricity price; a 10% fall in that price would reduce the recoverable amount by 6 million (entity's calculation); Solvenna also holds listed shares measured at their price in an active market.","es":""},"parts":[{"prompt":{"fr":"","en":"What does the note on the power plant contain?","es":""},"explanation":{"fr":"","en":"Paras. 31A (nature, carrying amount) and 31E(b) (sensitivity).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"a","text":{"fr":"","en":"The nature of the assumption (future electricity price)","es":""},"correct":true},{"id":"b","text":{"fr":"","en":"The carrying amount of 40 million","es":""},"correct":true},{"id":"c","text":{"fr":"","en":"The sensitivity: 6 million for a 10% fall in price","es":""},"correct":true},{"id":"d","text":{"fr":"","en":"Next year's detailed production budget","es":""},"correct":false,"feedback":{"fr":"","en":"Budgets are not required (para. 31F).","es":""}}],"id":"p1","dimension":"DOCUMENTATION"},{"prompt":{"fr":"","en":"The listed shares must also appear in this note on sources of uncertainty.","es":""},"explanation":{"fr":"","en":"False: fair value based on a quoted price in an active market for an identical item, excluded from para. 31A (para. 31D).","es":""},"common_error":{"fr":"","en":"Including every asset whose value may change.","es":""},"format":"TRUE_FALSE","answer":false,"id":"p2","dimension":"RULE_KNOWLEDGE"}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000001","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.OBJECTIVE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000001","tested_point":"QST.IAS8.000001","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"objective"},"references":["IAS 8 §1"],"exercise":{"prompt":{"fr":"","en":"The objective of IAS 8 is limited to the relevance of financial statements: comparability over time and with other entities is not part of it.","es":""},"explanation":{"fr":"","en":"IAS 8 aims to enhance the relevance and reliability of financial statements, and also their comparability over time and with the financial statements of other entities (IAS 8, para. 1). Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Reducing IAS 8 to a mere list of definitions.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000002","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.OBJECTIVE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000002","tested_point":"QST.IAS8.000002","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"objective"},"references":["IAS 8"],"exercise":{"prompt":{"fr":"","en":"Apart from changes in accounting policies, the disclosure of an entity's accounting policies is required not by IAS 8 but by IAS 1 (wording before IFRS 18).","es":""},"explanation":{"fr":"","en":"The applicable text refers to IAS 1 for disclosures of accounting policies, except those about changes in accounting policies, which remain in IAS 8 (IAS 8, para. 2). Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Looking in IAS 8 for the general requirement to describe accounting policies.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000003","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.OBJECTIVE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000003","tested_point":"QST.IAS8.000003","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"objective"},"references":["IAS 8 §1"],"exercise":{"prompt":{"fr":"","en":"Which qualities of financial statements does IAS 8 seek to enhance?","es":""},"explanation":{"fr":"","en":"The objective of IAS 8 is to enhance the relevance and reliability of financial statements and their comparability over time and with those of other entities (IAS 8, para. 1). Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Speed of publication, at the expense of comparability if necessary.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard does not sacrifice comparability to speed; it enhances it.","es":""}},{"id":"B","text":{"fr":"","en":"Prudence alone, by favouring policies that reduce reported profit.","es":""},"correct":false,"feedback":{"fr":"","en":"Prudence is not the objective of the standard, which seeks relevant and reliable information.","es":""}},{"id":"C","text":{"fr":"","en":"Agreement between the accounts and the entity's tax returns.","es":""},"correct":false,"feedback":{"fr":"","en":"IAS 8 does not seek to align the accounts with taxation.","es":""}},{"id":"D","text":{"fr":"","en":"Relevance, reliability and comparability over time and with other entities.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000004","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.OBJECTIVE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000004","tested_point":"QST.IAS8.000004","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"objective"},"references":["IAS 8"],"exercise":{"prompt":{"fr":"","en":"Claudore is preparing its notes. Under the applicable text, which standard requires it to describe its accounting policies when none of them changed during the year?","es":""},"explanation":{"fr":"","en":"Disclosures of accounting policies, except those about changes in accounting policies, fall under IAS 1 (IAS 8, para. 2). Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No standard: describing policies is optional when nothing has changed.","es":""},"correct":false,"feedback":{"fr":"","en":"Policy disclosures are required; IAS 8 merely states that they fall under IAS 1 (wording before IFRS 18).","es":""}},{"id":"B","text":{"fr":"","en":"IAS 10, since the notes are finalised after the reporting date.","es":""},"correct":false,"feedback":{"fr":"","en":"IAS 10 deals with events after the reporting period, not with describing policies.","es":""}},{"id":"C","text":{"fr":"","en":"IAS 1, to which IAS 8 refers for these disclosures.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"IAS 8, which gathers all disclosures on accounting policies.","es":""},"correct":false,"feedback":{"fr":"","en":"IAS 8 excludes these disclosures from its scope, apart from changes in policies.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000005","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000005","tested_point":"QST.IAS8.000005","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §3"],"exercise":{"prompt":{"fr":"","en":"The correction of prior period errors falls within the scope of IAS 8.","es":""},"explanation":{"fr":"","en":"IAS 8 applies to selecting and applying accounting policies, to changes in accounting policies, to changes in accounting estimates and to corrections of prior period errors (IAS 8, para. 3). Wording before IFRS 18.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000006","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000006","tested_point":"QST.IAS8.000006","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §4"],"exercise":{"prompt":{"fr":"","en":"IAS 8 sets its own method for accounting for the tax effects of a retrospective restatement, independently of IAS 12.","es":""},"explanation":{"fr":"","en":"The tax effects of corrections of prior period errors and of retrospective adjustments made to apply changes in accounting policies are accounted for and disclosed under IAS 12 (IAS 8, para. 4).","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000007","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000007","tested_point":"QST.IAS8.000007","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §3"],"exercise":{"prompt":{"fr":"","en":"The initial selection of an accounting policy for a class of transactions falls under IAS 8, just like accounting for a later change in that policy.","es":""},"explanation":{"fr":"","en":"The scope of IAS 8 covers selecting and applying accounting policies, not only their changes (IAS 8, para. 3). Wording before IFRS 18.","es":""},"common_error":{"fr":"","en":"Thinking that IAS 8 only matters when there is a change or an error.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000008","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000008","tested_point":"QST.IAS8.000008","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §3","IAS 8 §4"],"exercise":{"prompt":{"fr":"","en":"The Fairnelle group restates its accounts for a prior period error. Which of the following questions is not settled by IAS 8 itself?","es":""},"explanation":{"fr":"","en":"IAS 8 deals with the correction of prior period errors (IAS 8, para. 3), but the tax effects of those corrections are accounted for and disclosed under IAS 12 (IAS 8, para. 4). Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The period in which the correction is recognised.","es":""},"correct":false,"feedback":{"fr":"","en":"How a prior period error is corrected is precisely the subject of IAS 8.","es":""}},{"id":"B","text":{"fr":"","en":"Measuring the deferred tax arising from the correction.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Classifying the omission as a prior period error.","es":""},"correct":false,"feedback":{"fr":"","en":"The definition of a prior period error is in IAS 8.","es":""}},{"id":"D","text":{"fr":"","en":"The treatment of the prior year's comparative amounts.","es":""},"correct":false,"feedback":{"fr":"","en":"Restating comparatives is part of the treatment of errors set out in IAS 8.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000009","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000009","tested_point":"QST.IAS8.000009","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §4"],"exercise":{"prompt":{"fr":"","en":"In 2025, Gastia corrects an error made in 2024 by retrospective restatement. How does it treat the tax consequence of this correction?","es":""},"explanation":{"fr":"","en":"The tax effects of corrections of prior period errors are accounted for and disclosed under IAS 12 (IAS 8, para. 4): they follow the correction and are not placed in the tax expense of the year of discovery.","es":""},"common_error":{"fr":"","en":"Recognising the tax effect of the restatement in the current year's tax expense.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It recognises and presents it under IAS 12, consistently with the restated correction.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"It deducts it from the amount of the error without recognising any tax.","es":""},"correct":false,"feedback":{"fr":"","en":"Reducing the error without recognising any tax does not comply with IAS 12.","es":""}},{"id":"C","text":{"fr":"","en":"It records it in the 2025 tax expense, whatever the period corrected.","es":""},"correct":false,"feedback":{"fr":"","en":"The tax expense of the period of discovery must not receive the effect of a retrospective correction.","es":""}},{"id":"D","text":{"fr":"","en":"It ignores it, because the 2024 tax is final.","es":""},"correct":false,"feedback":{"fr":"","en":"Omitting the tax effect distorts the net amount of the restatement.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000010","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000010","tested_point":"QST.IAS8.000010","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §3"],"exercise":{"prompt":{"fr":"","en":"Which of the following questions is settled by IAS 8?","es":""},"explanation":{"fr":"","en":"IAS 8 applies in particular to accounting for changes in accounting estimates, such as revising a useful life (IAS 8, para. 3). Wording before IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"When to recognise revenue from a contract with a customer.","es":""},"correct":false,"feedback":{"fr":"","en":"Recognising revenue from customer contracts is an IFRS 15 matter.","es":""}},{"id":"B","text":{"fr":"","en":"Which date to treat as the date the accounts are authorised for issue.","es":""},"correct":false,"feedback":{"fr":"","en":"The date of authorisation for issue is an IAS 10 matter.","es":""}},{"id":"C","text":{"fr":"","en":"How to account for the effect of revising the useful life of a machine.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Which tax rate to use to measure deferred tax.","es":""},"correct":false,"feedback":{"fr":"","en":"The rate applied to deferred tax is an IAS 12 matter.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000011","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000011","tested_point":"QST.IAS8.000011","difficulty":"BEGINNER","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §3"],"exercise":{"prompt":{"fr":"","en":"Which of the following topics fall within the scope of IAS 8?","es":""},"explanation":{"fr":"","en":"IAS 8 applies to selecting and applying accounting policies, to changes in accounting policies, to changes in accounting estimates and to corrections of prior period errors (IAS 8, para. 3). Wording before IFRS 18.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Accounting for changes in accounting estimates.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Applying the accounting policies selected.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Correcting prior period errors.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Classifying events after the reporting date as adjusting or non-adjusting.","es":""},"correct":false,"feedback":{"fr":"","en":"This classification is an IAS 10 matter.","es":""}},{"id":"E","text":{"fr":"","en":"Computing current tax under tax legislation.","es":""},"correct":false,"feedback":{"fr":"","en":"Computing current tax is an IAS 12 and tax law matter.","es":""}},{"id":"F","text":{"fr":"","en":"Selecting accounting policies.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000012","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000012","tested_point":"QST.IAS8.000012","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §4"],"exercise":{"prompt":{"fr":"","en":"Which statements about the tax effects of retrospective adjustments are correct?","es":""},"explanation":{"fr":"","en":"The tax effects of corrections of prior period errors and of retrospective adjustments made to apply changes in accounting policies are accounted for and disclosed under IAS 12 (IAS 8, para. 4).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"They are ignored, since the tax of prior periods is final.","es":""},"correct":false,"feedback":{"fr":"","en":"Omitting the tax effect is a typical error: IAS 12 applies.","es":""}},{"id":"B","text":{"fr":"","en":"They are accounted for under IAS 12.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"They are always recorded in the current year's tax expense.","es":""},"correct":false,"feedback":{"fr":"","en":"The tax effect follows the retrospective adjustment; it is not placed in the year's expense.","es":""}},{"id":"D","text":{"fr":"","en":"IAS 8 also refers to IAS 12 for their presentation.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The reference to IAS 12 applies to error corrections and to changes in policies alike.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000013","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"CALCULATION","context":"V1_VG.IAS8.000001","tested_point":"VG.IAS8.000001","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §4"],"exercise":{"prompt":{"fr":"","en":"Mirvia voluntarily changes its inventory cost formula. Retrospective application increases the carrying amount of opening inventories by {pre_tax_adjustment}, without changing their tax base (case data). The applicable tax rate is {tax_rate} (case data). Compute the tax effect and the net adjustment to opening equity.","es":""},"explanation":{"fr":"","en":"The tax effects of a retrospective adjustment follow IAS 12 (IAS 8, para. 4). The higher carrying amount with an unchanged tax base creates a taxable difference: 240,000 × 25% = 60,000 of deferred tax liability; net adjustment: 240,000 − 60,000 = 180,000.","es":""},"common_error":{"fr":"","en":"Charging the gross adjustment to equity without any tax effect.","es":""},"format":"CALCULATION","placeholders":[{"id":"pre_tax_adjustment","value":"240000","unit":"EUR"},{"id":"tax_rate","value":"25","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Pre-tax adjustment to inventories","es":""},"value":"240000","unit":"EUR"},{"label":{"fr":"","en":"Tax rate","es":""},"value":"25","unit":"PERCENT"}],"steps":[{"id":"TAX_EFFECT","label":{"fr":"","en":"Tax effect (deferred tax liability)","es":""},"answer":60000,"tolerance":0,"unit":"EUR"},{"id":"NET_ADJUSTMENT","label":{"fr":"","en":"Net adjustment to equity","es":""},"answer":180000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"TAX_EFFECT","meaning":{"fr":"","en":"Tax effect (deferred tax liability)","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Pre-tax adjustment to inventories","es":""},"value":240000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Tax rate","es":""},"value":25,"unit":"PERCENT"}],"result":60000,"unit":"EUR"},{"step":"NET_ADJUSTMENT","meaning":{"fr":"","en":"Net adjustment to equity","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Pre-tax adjustment to inventories","es":""},"value":240000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Tax effect (deferred tax liability)","es":""},"value":60000,"unit":"EUR"}],"result":180000,"unit":"EUR"}],"rationale":{"fr":"","en":"The tax effects of a retrospective adjustment follow IAS 12 (IAS 8, para. 4).","es":""},"references":["REF.IAS8.4"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000014","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL","IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"CALCULATION","context":"V1_VG.IAS8.000001","tested_point":"VG.IAS8.000001","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §4","IAS 8 §42"],"exercise":{"prompt":{"fr":"","en":"When finalising its 2025 accounts, Quoline discovers that a liability of {omitted_liability}, which arose in 2023, was never recognised; the related expense will be deductible when paid and the deferred tax asset is recoverable (case data), at a rate of {tax_rate}. Compute the tax effect and the net decrease in opening equity of the earliest period presented.","es":""},"explanation":{"fr":"","en":"The error, which predates the earliest period presented, is corrected in the opening balances (IAS 8, para. 42) and its tax effect follows IAS 12 (IAS 8, para. 4): 120,000 × 30% = 36,000 of deferred tax asset; net decrease: 120,000 − 36,000 = 84,000.","es":""},"common_error":{"fr":"","en":"Using the gross liability as the decrease in equity.","es":""},"format":"CALCULATION","placeholders":[{"id":"omitted_liability","value":"120000","unit":"EUR"},{"id":"tax_rate","value":"30","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Omitted liability","es":""},"value":"120000","unit":"EUR"},{"label":{"fr":"","en":"Tax rate","es":""},"value":"30","unit":"PERCENT"}],"steps":[{"id":"TAX_EFFECT","label":{"fr":"","en":"Tax effect (deferred tax asset)","es":""},"answer":36000,"tolerance":0,"unit":"EUR"},{"id":"NET_DECREASE","label":{"fr":"","en":"Net decrease in equity","es":""},"answer":84000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"TAX_EFFECT","meaning":{"fr":"","en":"Tax effect (deferred tax asset)","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Omitted liability","es":""},"value":120000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Tax rate","es":""},"value":30,"unit":"PERCENT"}],"result":36000,"unit":"EUR","rationale":{"fr":"","en":"The error, which predates the earliest period presented, is corrected in the opening balances (IAS 8, para. 42) and its tax effect follows IAS 12 (IAS 8, para. 4): 120,000 × 30% = 36,000 of deferred tax asset","es":""}},{"step":"NET_DECREASE","meaning":{"fr":"","en":"Net decrease in equity","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Omitted liability","es":""},"value":120000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Tax effect (deferred tax asset)","es":""},"value":36000,"unit":"EUR"}],"result":84000,"unit":"EUR"}],"references":["REF.IAS8.4","REF.IAS8.42"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000015","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000015","tested_point":"QST.IAS8.000015","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §4"],"exercise":{"prompt":{"fr":"","en":"A change in accounting policy at Sostia, applied retrospectively, increases opening inventories by {inventory_increase} and an opening provision by {provision_increase}. Tax bases do not change, at a rate of {tax_rate} (case data). Compute the net tax effect (liability) and the net adjustment to opening equity.","es":""},"explanation":{"fr":"","en":"Tax effects under IAS 12 (IAS 8, para. 4): liability 150,000 × 28% = 42,000, asset 40,000 × 28% = 11,200, net 30,800. Net adjustment: (150,000 − 40,000) − 30,800 = 79,200.","es":""},"common_error":{"fr":"","en":"Computing tax on the increase in inventories only.","es":""},"format":"CALCULATION","placeholders":[{"id":"inventory_increase","value":"150000","unit":"EUR"},{"id":"provision_increase","value":"40000","unit":"EUR"},{"id":"tax_rate","value":"28","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Increase in inventories","es":""},"value":"150000","unit":"EUR"},{"label":{"fr":"","en":"Increase in the provision","es":""},"value":"40000","unit":"EUR"},{"label":{"fr":"","en":"Tax rate","es":""},"value":"28","unit":"PERCENT"}],"steps":[{"id":"NET_DEFERRED_TAX","label":{"fr":"","en":"Net tax effect (liability)","es":""},"answer":30800,"tolerance":0,"unit":"EUR"},{"id":"NET_EQUITY_ADJUSTMENT","label":{"fr":"","en":"Net adjustment to equity","es":""},"answer":79200,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"NET_EQUITY_ADJUSTMENT","meaning":{"fr":"","en":"Net adjustment to equity","es":""},"expression":"(a - b) - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Increase in inventories","es":""},"value":150000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Increase in the provision","es":""},"value":40000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Net tax effect (liability)","es":""},"value":30800,"unit":"EUR"}],"result":79200,"unit":"EUR"}],"rationale":{"fr":"","en":"Tax effects under IAS 12 (IAS 8, para. 4): liability 150,000 × 28% = 42,000, asset 40,000 × 28% = 11,200, net 30,800.","es":""},"references":["REF.IAS8.4"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000016","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000016","tested_point":"QST.IAS8.000016","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §4"],"exercise":{"prompt":{"fr":"","en":"In Truvian's notes, the retrospective adjustment to opening equity, net of tax, amounts to {net_adjustment}. The case tax rate is {tax_rate}. Work back to the pre-tax adjustment and the related tax effect.","es":""},"explanation":{"fr":"","en":"The net adjustment is the pre-tax adjustment less its tax effect determined under IAS 12 (IAS 8, para. 4): pre-tax = 63,000 ÷ (1 − 30%) = 90,000; tax effect = 90,000 − 63,000 = 27,000.","es":""},"common_error":{"fr":"","en":"Adding 30% of the net amount instead of dividing by (1 − rate).","es":""},"format":"CALCULATION","placeholders":[{"id":"net_adjustment","value":"63000","unit":"EUR"},{"id":"tax_rate","value":"30","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Adjustment net of tax","es":""},"value":"63000","unit":"EUR"},{"label":{"fr":"","en":"Tax rate","es":""},"value":"30","unit":"PERCENT"}],"steps":[{"id":"PRE_TAX_ADJUSTMENT","label":{"fr":"","en":"Pre-tax adjustment","es":""},"answer":90000,"tolerance":0,"unit":"EUR"},{"id":"TAX_EFFECT","label":{"fr":"","en":"Tax effect","es":""},"answer":27000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"PRE_TAX_ADJUSTMENT","meaning":{"fr":"","en":"Pre-tax adjustment","es":""},"expression":"a / (1 - b)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Adjustment net of tax","es":""},"value":63000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Tax rate","es":""},"value":30,"unit":"PERCENT"}],"result":90000,"unit":"EUR","rationale":{"fr":"","en":"The net adjustment is the pre-tax adjustment less its tax effect determined under IAS 12 (IAS 8, para. 4): pre-tax = 63,000 ÷ (1 − 30%) = 90,000","es":""}},{"step":"TAX_EFFECT","meaning":{"fr":"","en":"Tax effect","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Pre-tax adjustment","es":""},"value":90000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Adjustment net of tax","es":""},"value":63000,"unit":"EUR"}],"result":27000,"unit":"EUR"}],"references":["REF.IAS8.4"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000017","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL","IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000017","tested_point":"QST.IAS8.000017","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §4","IAS 8 §42"],"exercise":{"prompt":{"fr":"","en":"Nandane's published retained earnings at 1 January 2024 (opening of the earliest period presented) amount to {published_opening_re}. An asset overstated by {overstatement} since 2022 is discovered; the correction gives rise to a deferred tax asset at a rate of {tax_rate} (case data). Compute the restated opening retained earnings.","es":""},"explanation":{"fr":"","en":"An error predating the earliest period presented is corrected in that period's opening balances (IAS 8, para. 42), including the tax effect under IAS 12 (IAS 8, para. 4): 1,250,000 − 80,000 + 20,000 = 1,190,000.","es":""},"common_error":{"fr":"","en":"Deducting the gross correction without any tax effect.","es":""},"format":"CALCULATION","placeholders":[{"id":"published_opening_re","value":"1250000","unit":"EUR"},{"id":"overstatement","value":"80000","unit":"EUR"},{"id":"tax_rate","value":"25","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Published opening retained earnings","es":""},"value":"1250000","unit":"EUR"},{"label":{"fr":"","en":"Asset overstatement","es":""},"value":"80000","unit":"EUR"},{"label":{"fr":"","en":"Tax rate","es":""},"value":"25","unit":"PERCENT"}],"steps":[{"id":"RESTATED_OPENING_RE","label":{"fr":"","en":"Restated opening retained earnings","es":""},"answer":1190000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000018","standard_id":"IAS8","concept_ids":["IAS8.SCOPE.GENERAL","IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000018","tested_point":"QST.IAS8.000018","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §4","IAS 8 §42"],"exercise":{"prompt":{"fr":"","en":"Lyrelle presents 2025 and 2024. It discovers that depreciation of {depreciation_2023} for 2023 and of {depreciation_2024} for 2024 was not recognised; the correction gives rise to a deferred tax effect at a rate of {tax_rate} (case data). Compute the net decrease in equity at 1 January 2024 and in restated 2024 profit.","es":""},"explanation":{"fr":"","en":"The 2023 portion corrects the opening balances of 2024, the earliest period presented; the 2024 portion restates the comparative (IAS 8, para. 42). Tax effects under IAS 12 (IAS 8, para. 4): 30,000 × (1 − 25%) = 22,500 and 30,000 × (1 − 25%) = 22,500.","es":""},"common_error":{"fr":"","en":"Recording the tax effect of the correction in the 2025 tax expense.","es":""},"format":"CALCULATION","placeholders":[{"id":"depreciation_2023","value":"30000","unit":"EUR"},{"id":"depreciation_2024","value":"30000","unit":"EUR"},{"id":"tax_rate","value":"25","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Omitted 2023 depreciation","es":""},"value":"30000","unit":"EUR"},{"label":{"fr":"","en":"Omitted 2024 depreciation","es":""},"value":"30000","unit":"EUR"},{"label":{"fr":"","en":"Tax rate","es":""},"value":"25","unit":"PERCENT"}],"steps":[{"id":"OPENING_2024_DECREASE","label":{"fr":"","en":"Net decrease in equity at 1 January 2024","es":""},"answer":22500,"tolerance":0,"unit":"EUR"},{"id":"PROFIT_2024_DECREASE","label":{"fr":"","en":"Net decrease in 2024 profit","es":""},"answer":22500,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000022","standard_id":"IAS8","concept_ids":["IAS8.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000022","tested_point":"QST.IAS8.000022","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000002","section_id":"policies-and-estimates"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"Under IAS 8, an accounting estimate is a monetary amount in the financial statements that is subject to measurement uncertainty.","es":""},"explanation":{"fr":"","en":"Accounting estimates are defined as monetary amounts in financial statements that are subject to measurement uncertainty (IAS 8, para. 5).","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000023","standard_id":"IAS8","concept_ids":["IAS8.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000023","tested_point":"QST.IAS8.000023","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000002","section_id":"policies-and-estimates"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"Retrospective restatement means applying a new accounting policy as if it had always been applied.","es":""},"explanation":{"fr":"","en":"Applying a new policy as if it had always been applied is retrospective application; retrospective restatement corrects recognition, measurement and disclosure as if the error had never occurred (IAS 8, para. 5).","es":""},"common_error":{"fr":"","en":"Using the two expressions interchangeably.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000024","standard_id":"IAS8","concept_ids":["IAS8.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000024","tested_point":"QST.IAS8.000024","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000002","section_id":"policies-and-estimates"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"For a change in estimate, prospective application means recognising its effect in the current period and in the future periods affected.","es":""},"explanation":{"fr":"","en":"Prospective application covers, for a new policy, transactions after the date of the change and, for a change in estimate, recognising its effect in the current and future periods affected (IAS 8, para. 5).","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000025","standard_id":"IAS8","concept_ids":["IAS8.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000025","tested_point":"QST.IAS8.000025","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000002","section_id":"policies-and-estimates"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"Information that became available only after the financial statements of a year were authorised for issue is enough to make those financial statements erroneous.","es":""},"explanation":{"fr":"","en":"A prior period error involves the failure to use, or the misuse of, reliable information that was available when the statements were authorised for issue and could reasonably be expected to have been obtained (IAS 8, para. 5). Later information does not make those statements erroneous.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000026","standard_id":"IAS8","concept_ids":["IAS8.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000026","tested_point":"QST.IAS8.000026","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000002","section_id":"policies-and-estimates"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"Which wording matches accounting policies as defined in IAS 8?","es":""},"explanation":{"fr":"","en":"Accounting policies are the specific principles, bases, conventions, rules and practices applied by the entity in preparing and presenting its financial statements (IAS 8, para. 5).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The omissions and misstatements found in the financial statements of prior periods.","es":""},"correct":false,"feedback":{"fr":"","en":"This wording refers to prior period errors.","es":""}},{"id":"B","text":{"fr":"","en":"The tax rules the entity follows to determine its taxable profit.","es":""},"correct":false,"feedback":{"fr":"","en":"Tax rules are not accounting policies.","es":""}},{"id":"C","text":{"fr":"","en":"The monetary amounts in financial statements that are subject to measurement uncertainty.","es":""},"correct":false,"feedback":{"fr":"","en":"This wording defines accounting estimates.","es":""}},{"id":"D","text":{"fr":"","en":"The principles, bases, conventions, rules and practices that the entity applies in preparing and presenting its financial statements.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000027","standard_id":"IAS8","concept_ids":["IAS8.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000027","tested_point":"QST.IAS8.000027","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000002","section_id":"policies-and-estimates"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"When Kevois finalises its 2025 accounts, which of these situations is a prior period error?","es":""},"explanation":{"fr":"","en":"Prior period errors result from the failure to use, or the misuse of, reliable information available when the statements were authorised for issue; they include, among others, mathematical mistakes (IAS 8, para. 5).","es":""},"common_error":{"fr":"","en":"Calling any revision based on new information an error.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A lawsuit won in 2025, whose outcome was uncertain when the 2024 accounts were finalised.","es":""},"correct":false,"feedback":{"fr":"","en":"The outcome of an uncertain contingency is not an error.","es":""}},{"id":"B","text":{"fr":"","en":"2024 depreciation miscalculated from correct data available when the 2024 accounts were finalised.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"An increase in a warranty provision in 2025 following new claims.","es":""},"correct":false,"feedback":{"fr":"","en":"New information leads to revising an estimate, not to correcting an error.","es":""}},{"id":"D","text":{"fr":"","en":"The voluntary switch from FIFO to weighted average cost in 2025.","es":""},"correct":false,"feedback":{"fr":"","en":"This is a change in accounting policy.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000028","standard_id":"IAS8","concept_ids":["IAS8.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000028","tested_point":"QST.IAS8.000028","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000002","section_id":"policies-and-estimates"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"When is applying a requirement impracticable under IAS 8?","es":""},"explanation":{"fr":"","en":"Applying a requirement is impracticable when the entity cannot apply it after making every reasonable effort to do so (IAS 8, para. 5).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"When the entity cannot apply it after making every reasonable effort to do so.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"When it requires estimates and judgement by management.","es":""},"correct":false,"feedback":{"fr":"","en":"The need for estimates does not, on its own, make a requirement impracticable.","es":""}},{"id":"C","text":{"fr":"","en":"When its cost seems high compared with the expected benefit.","es":""},"correct":false,"feedback":{"fr":"","en":"Cost or difficulty is not enough.","es":""}},{"id":"D","text":{"fr":"","en":"When the auditor qualifies its opinion on its application.","es":""},"correct":false,"feedback":{"fr":"","en":"The auditor's opinion is not the criterion of the standard.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000029","standard_id":"IAS8","concept_ids":["IAS8.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000029","tested_point":"QST.IAS8.000029","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000002","section_id":"policies-and-estimates"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"Molore applies a new policy prospectively. What does it actually do?","es":""},"explanation":{"fr":"","en":"Prospective application of a change in accounting policy means applying the new policy to transactions, other events and conditions occurring after the date of the change (IAS 8, para. 5).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It adjusts opening equity of the earliest period presented.","es":""},"correct":false,"feedback":{"fr":"","en":"Adjusting opening equity belongs to retrospective application.","es":""}},{"id":"B","text":{"fr":"","en":"It restates comparatives as if the policy had always been applied.","es":""},"correct":false,"feedback":{"fr":"","en":"This describes retrospective application.","es":""}},{"id":"C","text":{"fr":"","en":"It recognises the cumulative effect of the change in the year's profit.","es":""},"correct":false,"feedback":{"fr":"","en":"No cumulative effect of past periods is computed under prospective application.","es":""}},{"id":"D","text":{"fr":"","en":"It applies the policy to transactions and events occurring after the date of the change.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000030","standard_id":"IAS8","concept_ids":["IAS8.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000030","tested_point":"QST.IAS8.000030","difficulty":"BEGINNER","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000002","section_id":"policies-and-estimates"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"Which of the following situations are among the examples of prior period errors?","es":""},"explanation":{"fr":"","en":"Prior period errors include, among others, mathematical mistakes, mistakes in applying accounting policies, oversights, misinterpretations of facts and fraud (IAS 8, para. 5).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Revising an estimate following new information.","es":""},"correct":false,"feedback":{"fr":"","en":"Revising an estimate is not an error.","es":""}},{"id":"B","text":{"fr":"","en":"A mathematical mistake.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"An oversight in recording an invoice.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"A change in tax rate enacted after the reporting date.","es":""},"correct":false,"feedback":{"fr":"","en":"A later event is not an error in the prior statements.","es":""}},{"id":"E","text":{"fr":"","en":"A fraud.","es":""},"correct":true},{"id":"F","text":{"fr":"","en":"A misinterpretation of facts.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000031","standard_id":"IAS8","concept_ids":["IAS8.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000031","tested_point":"QST.IAS8.000031","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000002","section_id":"policies-and-estimates"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"For a prior period, which of these situations make applying a requirement impracticable?","es":""},"explanation":{"fr":"","en":"For a prior period, application is impracticable if its effects cannot be determined, if it requires assumptions about management's intent at the time, or if it requires significant estimates without any objective way to distinguish the information of that time (IAS 8, para. 5).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Significant estimates are needed and information available at the time cannot be objectively distinguished from later information.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The application requires assumptions about what management's intent was at the time.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The restatement would markedly reduce reported equity.","es":""},"correct":false,"feedback":{"fr":"","en":"An unfavourable effect of restatement is not a criterion.","es":""}},{"id":"D","text":{"fr":"","en":"The effects of the application or restatement cannot be determined.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The fees for rebuilding the data would be high.","es":""},"correct":false,"feedback":{"fr":"","en":"A high cost is not enough without failure of reasonable efforts.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000034","standard_id":"IAS8","concept_ids":["IAS8.DEFINITIONS.KEY_TERMS"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000034","tested_point":"QST.IAS8.000034","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000002","section_id":"policies-and-estimates"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"Note by Gridine's accountant: 'In 2025, after observing the actual wear of our trucks, we are reducing their useful life from 8 to 6 years. The 8-year life used in 2024 was therefore an error, which we are correcting retrospectively.' Where is the flaw in the reasoning?","es":""},"explanation":{"fr":"","en":"An error requires information that was available when the statements were authorised and that was misused (IAS 8, para. 5). The wear observed in 2025 is new information: the revision is a change in estimate.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The revision relies on new information: it is a change in estimate, not an error.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The correction should have been charged directly to 2025 equity.","es":""},"correct":false,"feedback":{"fr":"","en":"The issue is not where it is charged but how the situation is classified.","es":""}},{"id":"C","text":{"fr":"","en":"There is none: any revised useful life reveals an error of the previous year.","es":""},"correct":false,"feedback":{"fr":"","en":"A revised estimate is not, by definition, an error.","es":""}},{"id":"D","text":{"fr":"","en":"Useful life is an accounting policy; this is a change in accounting policy.","es":""},"correct":false,"feedback":{"fr":"","en":"Useful life is an input to an accounting estimate, not a policy.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000035","standard_id":"IAS8","concept_ids":["IAS8.DEFINITIONS.KEY_TERMS"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000035","tested_point":"QST.IAS8.000035","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000002","section_id":"policies-and-estimates"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"A contractor's invoice for work in December 2024, received on 20 January 2025, was mislaid; Mamenne's 2024 accounts were authorised on 15 March 2025. An assistant concludes: 'The invoice arrived after the reporting date, so its omission is not an error.' What is wrong?","es":""},"explanation":{"fr":"","en":"A prior period error results from reliable information available when the statements were authorised, which could reasonably be expected to have been obtained and taken into account (IAS 8, para. 5). The invoice received on 20 January met those conditions before 15 March.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Nothing: only the reporting date of 31 December 2024 matters.","es":""},"correct":false,"feedback":{"fr":"","en":"Availability is assessed at the date of authorisation for issue, not at the reporting date.","es":""}},{"id":"B","text":{"fr":"","en":"The invoice relates to a change in estimate in 2025.","es":""},"correct":false,"feedback":{"fr":"","en":"There is neither measurement uncertainty nor new information: the liability was known.","es":""}},{"id":"C","text":{"fr":"","en":"The invoice was available when the statements were authorised: its omission is an error.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The invoice should have been treated as a non-adjusting event after the reporting period.","es":""},"correct":false,"feedback":{"fr":"","en":"Work done in December 2024 concerns a condition existing at the reporting date.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000036","standard_id":"IAS8","concept_ids":["IAS8.DEFINITIONS.KEY_TERMS"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000036","tested_point":"QST.IAS8.000036","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000002","section_id":"policies-and-estimates"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"Jaumac's 2024 accounts were authorised on 10 March 2025. In June 2025, a customer that had been solvent is put into liquidation after a fire in May 2025. The controller writes: 'We must restate 2024 to recognise this loss.' What is the mistake?","es":""},"explanation":{"fr":"","en":"An error requires information available when the statements concerned were authorised for issue (IAS 8, para. 5). The May 2025 fire occurred after 10 March 2025: the loss belongs to 2025.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The loss should have been charged directly to opening 2025 equity.","es":""},"correct":false,"feedback":{"fr":"","en":"Without an error, no restatement of opening equity is justified.","es":""}},{"id":"B","text":{"fr":"","en":"The information did not exist when the 2024 accounts were authorised: there is no prior period error.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The loss should have been deferred to future years, prospectively.","es":""},"correct":false,"feedback":{"fr":"","en":"The 2025 loss is recognised in 2025; it is not spread.","es":""}},{"id":"D","text":{"fr":"","en":"None: any loss revealed the following year requires a restatement.","es":""},"correct":false,"feedback":{"fr":"","en":"Information after authorisation does not make prior statements erroneous.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000037","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000037","tested_point":"QST.IAS8.000037","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000003","section_id":"specific-ifrs"},"references":["IAS 8 §7"],"exercise":{"prompt":{"fr":"","en":"When an IFRS specifically applies to a transaction, the entity may nevertheless select another policy if it considers it more relevant.","es":""},"explanation":{"fr":"","en":"When an IFRS specifically applies to a transaction, other event or condition, the accounting policy is determined by applying that IFRS (IAS 8, para. 7).","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000038","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000038","tested_point":"QST.IAS8.000038","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000003","section_id":"specific-ifrs"},"references":["IAS 8 §8"],"exercise":{"prompt":{"fr":"","en":"An accounting policy set out in IFRSs need not be applied when the effect of applying it is immaterial.","es":""},"explanation":{"fr":"","en":"Accounting policies set out in IFRSs need not be applied when the effect of applying them is immaterial (IAS 8, para. 8), subject to the prohibition of departures aimed at a particular presentation.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000039","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000039","tested_point":"QST.IAS8.000039","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000003","section_id":"specific-ifrs"},"references":["IAS 8 §8"],"exercise":{"prompt":{"fr":"","en":"An immaterial departure from IFRSs remains acceptable even when it is deliberately kept to smooth profit.","es":""},"explanation":{"fr":"","en":"It is inappropriate to make, or leave uncorrected, immaterial departures from IFRSs to achieve a particular presentation of financial position, financial performance or cash flows (IAS 8, para. 8).","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000040","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000040","tested_point":"QST.IAS8.000040","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000003","section_id":"specific-ifrs"},"references":["IAS 8 §7"],"exercise":{"prompt":{"fr":"","en":"Laivot leases a warehouse and wonders which policy to apply to this lease. What does IAS 8 require?","es":""},"explanation":{"fr":"","en":"When an IFRS specifically applies to a transaction, the accounting policy is determined by applying that IFRS (IAS 8, para. 7); here, the standard on leases.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Select the policy that produces the highest profit.","es":""},"correct":false,"feedback":{"fr":"","en":"The effect on profit is not a selection criterion.","es":""}},{"id":"B","text":{"fr":"","en":"Apply the standard that specifically deals with leases.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Use the treatment adopted in the tax return.","es":""},"correct":false,"feedback":{"fr":"","en":"The tax treatment does not determine the accounting policy.","es":""}},{"id":"D","text":{"fr":"","en":"Develop its own policy by reference to the Conceptual Framework.","es":""},"correct":false,"feedback":{"fr":"","en":"Developing its own policy only comes in when no IFRS applies.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000041","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000041","tested_point":"QST.IAS8.000041","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000003","section_id":"specific-ifrs"},"references":["IAS 8 §8"],"exercise":{"prompt":{"fr":"","en":"For simplicity, Leudane expenses small tools whose unit value is below an internal threshold; the cumulative effect is immaterial (case data) and no presentation objective is pursued. Is this practice compatible with IAS 8?","es":""},"explanation":{"fr":"","en":"Accounting policies in IFRSs need not be applied when the effect is immaterial, unless the departure aims at a particular presentation (IAS 8, para. 8). Immateriality is case data here.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No: any departure from IFRSs is prohibited, whatever its amount.","es":""},"correct":false,"feedback":{"fr":"","en":"IAS 8 allows departures whose effect is immaterial.","es":""}},{"id":"B","text":{"fr":"","en":"Yes, but only if the threshold is accepted by the tax authority.","es":""},"correct":false,"feedback":{"fr":"","en":"The tax authority's view is not the test.","es":""}},{"id":"C","text":{"fr":"","en":"Yes: an IFRS policy need not be applied when its effect is immaterial.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"No, unless the entity restates its comparatives every year.","es":""},"correct":false,"feedback":{"fr":"","en":"No restatement is required for an immaterial departure.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000042","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000042","tested_point":"QST.IAS8.000042","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000003","section_id":"specific-ifrs"},"references":["IAS 8 §8"],"exercise":{"prompt":{"fr":"","en":"Which of these practices does IAS 8 describe as inappropriate?","es":""},"explanation":{"fr":"","en":"It is inappropriate to make, or leave uncorrected, immaterial departures from IFRSs to achieve a particular presentation (IAS 8, para. 8).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Applying the standard that specifically covers a transaction.","es":""},"correct":false,"feedback":{"fr":"","en":"This is precisely what the standard requires.","es":""}},{"id":"B","text":{"fr":"","en":"Not applying an IFRS policy whose effect is immaterial, with no other objective.","es":""},"correct":false,"feedback":{"fr":"","en":"This practice is allowed when the effect is immaterial.","es":""}},{"id":"C","text":{"fr":"","en":"Correcting, before authorisation for issue, an error discovered during the year.","es":""},"correct":false,"feedback":{"fr":"","en":"This is the expected treatment of a current period error.","es":""}},{"id":"D","text":{"fr":"","en":"Leaving an immaterial departure uncorrected in order to meet a profit target.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000043","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS","IAS8.POLICIES.HIERARCHY"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000043","tested_point":"QST.IAS8.000043","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000003","section_id":"specific-ifrs"},"references":["IAS 8 §7","IAS 8 §10"],"exercise":{"prompt":{"fr":"","en":"In which case must management use its judgement to develop an accounting policy itself?","es":""},"explanation":{"fr":"","en":"The policy is determined by the IFRS that specifically applies (IAS 8, para. 7); only in the absence of such an IFRS does management use its judgement to develop a policy (IAS 8, para. 10).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"When no IFRS specifically applies to the transaction concerned.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Whenever it considers that an applicable IFRS gives an unfavourable picture.","es":""},"correct":false,"feedback":{"fr":"","en":"An applicable IFRS prevails, whatever picture it produces.","es":""}},{"id":"C","text":{"fr":"","en":"As soon as the transaction is material for the group.","es":""},"correct":false,"feedback":{"fr":"","en":"Materiality does not trigger the development of a policy.","es":""}},{"id":"D","text":{"fr":"","en":"When several subsidiaries ask for different policies.","es":""},"correct":false,"feedback":{"fr":"","en":"Subsidiaries' preferences do not justify setting aside an IFRS.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000044","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000044","tested_point":"QST.IAS8.000044","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000003","section_id":"specific-ifrs"},"references":["IAS 8 §7","IAS 8 §8"],"exercise":{"prompt":{"fr":"","en":"Which statements about applying IFRSs are correct?","es":""},"explanation":{"fr":"","en":"The policy is determined by the applicable IFRS (IAS 8, para. 7); a policy need not be applied if its effect is immaterial, but never to achieve a particular presentation (IAS 8, para. 8).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"An IFRS policy need not be applied when its effect is immaterial.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"An immaterial departure may be kept to comply with a bank covenant.","es":""},"correct":false,"feedback":{"fr":"","en":"Meeting a covenant is a particular presentation being sought.","es":""}},{"id":"C","text":{"fr":"","en":"An immaterial departure remains inappropriate if it aims at a particular presentation.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"An entity may set aside an applicable IFRS if it documents a policy considered more prudent.","es":""},"correct":false,"feedback":{"fr":"","en":"Prudence does not justify setting aside an applicable IFRS.","es":""}},{"id":"E","text":{"fr":"","en":"An IFRS that specifically applies to a situation determines the policy to use.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000045","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000045","tested_point":"QST.IAS8.000045","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000003","section_id":"specific-ifrs"},"references":["IAS 8 §8"],"exercise":{"prompt":{"fr":"","en":"Notelle is considering several practices whose effect, taken individually, is immaterial (case data). Which ones comply with IAS 8?","es":""},"explanation":{"fr":"","en":"An immaterial departure is tolerated (IAS 8, para. 8), but it becomes inappropriate if it is made or kept to achieve a particular presentation (threshold, ratio, smoothing).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Expensing low-value expenditure to lighten the year-end close.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Leaving an immaterial departure uncorrected to show steadily rising profit.","es":""},"correct":false,"feedback":{"fr":"","en":"Smoothing profit is a particular presentation being sought.","es":""}},{"id":"C","text":{"fr":"","en":"Delaying an immaterial charge to comply with a gearing ratio.","es":""},"correct":false,"feedback":{"fr":"","en":"Meeting a ratio is a particular presentation being sought.","es":""}},{"id":"D","text":{"fr":"","en":"Correcting an immaterial current year error before the accounts are finalised.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Deferring an immaterial expense to just exceed the profit threshold of a bonus plan.","es":""},"correct":false,"feedback":{"fr":"","en":"The departure targets a threshold: a particular presentation is sought.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000046","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000046","tested_point":"QST.IAS8.000046","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000003","section_id":"specific-ifrs"},"references":["IAS 8 §7"],"exercise":{"prompt":{"fr":"","en":"Gautia sells machines with installation. Its manager proposes to recognise all revenue when cash is received, as it is 'easier to track', whereas the standard on revenue from contracts with customers applies to these sales (case data). What should be done?","es":""},"explanation":{"fr":"","en":"When an IFRS specifically applies to a transaction, the policy is determined by applying that IFRS (IAS 8, para. 7). Management's preference cannot replace it.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Use cash receipt if the auditor accepts it.","es":""},"correct":false,"feedback":{"fr":"","en":"The auditor's agreement does not replace the standard.","es":""}},{"id":"B","text":{"fr":"","en":"Apply the standard on customer contracts, which specifically applies to these sales.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Use cash receipt, because simplicity justifies the choice of policy.","es":""},"correct":false,"feedback":{"fr":"","en":"Simplicity does not allow an applicable IFRS to be set aside, unless the effect is immaterial.","es":""}},{"id":"D","text":{"fr":"","en":"Develop a hybrid policy based on the Conceptual Framework.","es":""},"correct":false,"feedback":{"fr":"","en":"The Conceptual Framework is used only when no IFRS applies.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000047","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"APPLICATION","context":"V1_VG.IAS8.000002","tested_point":"VG.IAS8.000002","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000003","section_id":"specific-ifrs"},"references":["IAS 8 §8"],"exercise":{"prompt":{"fr":"","en":"Tivane omitted a small accrued expense (immaterial according to the case data). Without it, profit just exceeds the threshold that triggers management bonuses. The finance director proposes not to record it 'since it is immaterial'. What is your conclusion?","es":""},"explanation":{"fr":"","en":"It is inappropriate to leave an immaterial departure uncorrected in order to achieve a particular presentation of performance (IAS 8, para. 8). Crossing the bonus threshold reveals that intent.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The proposal is acceptable if the expense is recognised next year.","es":""},"correct":false,"feedback":{"fr":"","en":"Deferring the expense merely moves the deliberate departure.","es":""}},{"id":"B","text":{"fr":"","en":"The proposal is acceptable if the bonuses are mentioned in the notes.","es":""},"correct":false,"feedback":{"fr":"","en":"A note does not cure a deliberate departure.","es":""}},{"id":"C","text":{"fr":"","en":"The proposal is acceptable: only the amount of the departure matters.","es":""},"correct":false,"feedback":{"fr":"","en":"The presentation motive matters, not only the amount.","es":""}},{"id":"D","text":{"fr":"","en":"The proposal is inappropriate: the departure would be kept to achieve a particular presentation.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000048","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000048","tested_point":"QST.IAS8.000048","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000003","section_id":"specific-ifrs"},"references":["IAS 8 §8"],"exercise":{"prompt":{"fr":"","en":"Cherine does not discount very short-term trade payables; the effect is immaterial (case data) and the practice is applied every year, with no link to a profit objective. How should it be described?","es":""},"explanation":{"fr":"","en":"IFRS policies need not be applied when their effect is immaterial, unless the departure aims at a particular presentation (IAS 8, para. 8).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A prohibited departure, since any departure from IFRSs is banned.","es":""},"correct":false,"feedback":{"fr":"","en":"IAS 8 tolerates departures whose effect is immaterial.","es":""}},{"id":"B","text":{"fr":"","en":"A change in accounting policy to be justified by more relevant information.","es":""},"correct":false,"feedback":{"fr":"","en":"No policy has changed: the practice is consistent.","es":""}},{"id":"C","text":{"fr":"","en":"An accepted simplification, since the effect is immaterial.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"An error to be corrected retrospectively every year.","es":""},"correct":false,"feedback":{"fr":"","en":"A departure tolerated for immateriality is not an error to be restated.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000049","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS","IAS8.POLICIES.HIERARCHY"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000049","tested_point":"QST.IAS8.000049","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000003","section_id":"specific-ifrs"},"references":["IAS 8 §7","IAS 8 §12"],"exercise":{"prompt":{"fr":"","en":"The finance director of the Dremine group, used to a foreign GAAP, wants to apply that GAAP's practice to its property, plant and equipment, although an IFRS specifically deals with these assets. What is the answer?","es":""},"explanation":{"fr":"","en":"The policy is determined by the IFRS that specifically applies (IAS 8, para. 7). Pronouncements of other standard-setters are only considered to develop a policy when no IFRS applies, and without conflict with the higher sources (IAS 8, para. 12).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The applicable IFRS prevails; other GAAPs may only be considered when no IFRS applies.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The foreign GAAP may be applied if it is more recent than the IFRS.","es":""},"correct":false,"feedback":{"fr":"","en":"The relative age of the texts is not a criterion.","es":""}},{"id":"C","text":{"fr":"","en":"The foreign GAAP may be applied if the parent uses it.","es":""},"correct":false,"feedback":{"fr":"","en":"Group habits do not allow an applicable IFRS to be set aside.","es":""}},{"id":"D","text":{"fr":"","en":"The entity may apply the foreign GAAP if it says so in the notes.","es":""},"correct":false,"feedback":{"fr":"","en":"A note does not justify the departure.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000050","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.APPLYING_IFRS"],"dimension":"APPLICATION","context":"V1_VG.IAS8.000002","tested_point":"VG.IAS8.000002","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000003","section_id":"specific-ifrs"},"references":["IAS 8 §8"],"exercise":{"prompt":{"fr":"","en":"Kastia accumulates five small departures from IFRSs, each immaterial (case data). Together, they bring the gearing ratio just below the ceiling of a bank covenant. Management refuses to correct them. Which analysis is right?","es":""},"explanation":{"fr":"","en":"It is inappropriate to make or leave uncorrected immaterial departures in order to achieve a particular presentation of financial position (IAS 8, para. 8).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The departures are acceptable since each one, on its own, is immaterial.","es":""},"correct":false,"feedback":{"fr":"","en":"Looking at each one alone ignores the common motive behind them.","es":""}},{"id":"B","text":{"fr":"","en":"The departures are inappropriate: they are kept to achieve a particular presentation.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The departures are acceptable if the bank is not informed.","es":""},"correct":false,"feedback":{"fr":"","en":"Hiding the departure from the lender makes things worse.","es":""}},{"id":"D","text":{"fr":"","en":"The departures become changes in accounting estimates.","es":""},"correct":false,"feedback":{"fr":"","en":"A deliberate departure from IFRSs is not an estimate.","es":""}}]},"scope":"CORE_STUDENT","reserve":true},{"key":"QST.IAS8.000053","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000053","tested_point":"QST.IAS8.000053","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"objective-of-judgement"},"references":["IAS 8 §10"],"exercise":{"prompt":{"fr":"","en":"When no IFRS applies, which quality must the information produced by a policy developed by management have?","es":""},"explanation":{"fr":"","en":"Management uses its judgement to develop a policy that results in information that is relevant to users' economic decisions and reliable (IAS 8, para. 10).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Be relevant to users' economic decisions and reliable.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Be identical to the treatment used in the year's tax return.","es":""},"correct":false,"feedback":{"fr":"","en":"Taxation is not a source in the hierarchy.","es":""}},{"id":"C","text":{"fr":"","en":"Be as prudent as possible, even at the cost of systematically understating assets and profit.","es":""},"correct":false,"feedback":{"fr":"","en":"Prudence is part of reliability but does not allow systematic understatement.","es":""}},{"id":"D","text":{"fr":"","en":"Maximise the year's profit so as to reassure lenders and shareholders.","es":""},"correct":false,"feedback":{"fr":"","en":"A profit-driven policy is not neutral.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000054","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000054","tested_point":"QST.IAS8.000054","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"objective-of-judgement"},"references":["IAS 8 §11"],"exercise":{"prompt":{"fr":"","en":"To develop a policy when no IFRS applies, which source does management consult first?","es":""},"explanation":{"fr":"","en":"Management refers, in order, to the requirements of IFRSs dealing with similar and related issues, then to the definitions, recognition criteria and measurement concepts of the Conceptual Framework (IAS 8, para. 11).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The definitions and recognition criteria of the Conceptual Framework, before any other source.","es":""},"correct":false,"feedback":{"fr":"","en":"The Conceptual Framework comes second, after IFRSs dealing with similar issues.","es":""}},{"id":"B","text":{"fr":"","en":"Accepted industry practices, as shown in competitors' published financial statements.","es":""},"correct":false,"feedback":{"fr":"","en":"Industry practice is an optional, last-rank source.","es":""}},{"id":"C","text":{"fr":"","en":"The most recent pronouncements of another standard-setter with a similar conceptual framework.","es":""},"correct":false,"feedback":{"fr":"","en":"Other standard-setters come only later, and only when there is no conflict.","es":""}},{"id":"D","text":{"fr":"","en":"IFRSs dealing with similar and related issues.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000055","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000055","tested_point":"QST.IAS8.000055","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"objective-of-judgement"},"references":["IAS 8 §10"],"exercise":{"prompt":{"fr":"","en":"Which of the following characteristics is part of the reliability required of a policy developed by management?","es":""},"explanation":{"fr":"","en":"Reliable information represents faithfully, reflects economic substance and not merely legal form, and is neutral, prudent and complete in all material respects (IAS 8, para. 10).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Always following the legal form of contracts, which is easier for a third party to verify.","es":""},"correct":false,"feedback":{"fr":"","en":"Legal form alone is not enough.","es":""}},{"id":"B","text":{"fr":"","en":"Favouring treatments that reduce the volatility of profit from one year to the next.","es":""},"correct":false,"feedback":{"fr":"","en":"Reducing volatility is not a required quality and harms neutrality.","es":""}},{"id":"C","text":{"fr":"","en":"Reflecting economic substance and not merely legal form.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Following the classification used by the tax authority.","es":""},"correct":false,"feedback":{"fr":"","en":"Tax classification is not a reliability criterion.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000056","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000056","tested_point":"QST.IAS8.000056","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"objective-of-judgement"},"references":["IAS 8 §12"],"exercise":{"prompt":{"fr":"","en":"What role does IAS 8 give to pronouncements of other standard-setters?","es":""},"explanation":{"fr":"","en":"Management may consider the most recent pronouncements of other standard-setters using a similar conceptual framework, other accounting literature and accepted industry practices, to the extent that they do not conflict with the sources in paragraph 11 (IAS 8, para. 12).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Management may consider them, to the extent that they do not conflict with the higher sources.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"They must be applied as soon as no IFRS specifically addresses the transaction.","es":""},"correct":false,"feedback":{"fr":"","en":"Considering them is optional.","es":""}},{"id":"C","text":{"fr":"","en":"They override the Conceptual Framework when they are more recent than it.","es":""},"correct":false,"feedback":{"fr":"","en":"They never override the sources in paragraph 11.","es":""}},{"id":"D","text":{"fr":"","en":"They are prohibited, as only IFRSs may be consulted.","es":""},"correct":false,"feedback":{"fr":"","en":"IAS 8 allows them to be considered, under a condition.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000057","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000057","tested_point":"QST.IAS8.000057","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"objective-of-judgement"},"references":["IAS 8 §11"],"exercise":{"prompt":{"fr":"","en":"After IFRSs dealing with similar and related issues, which source does management consider?","es":""},"explanation":{"fr":"","en":"After IFRSs dealing with similar and related issues, management refers to the definitions, recognition criteria and measurement concepts for assets, liabilities, income and expenses in the Conceptual Framework (IAS 8, para. 11).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The parent's internal guidelines, even when they depart from published IFRSs.","es":""},"correct":false,"feedback":{"fr":"","en":"Group instructions are not a source in the hierarchy.","es":""}},{"id":"B","text":{"fr":"","en":"Industry practices, which reflect the most widespread usage among comparable entities.","es":""},"correct":false,"feedback":{"fr":"","en":"Industry practices are an optional source, subordinate to the first two.","es":""}},{"id":"C","text":{"fr":"","en":"The tax rules applicable to the entity.","es":""},"correct":false,"feedback":{"fr":"","en":"Tax rules are not part of the hierarchy.","es":""}},{"id":"D","text":{"fr":"","en":"The definitions, recognition criteria and measurement concepts of the Conceptual Framework.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000058","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000058","tested_point":"QST.IAS8.000058","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"objective-of-judgement"},"references":["IAS 8 §10"],"exercise":{"prompt":{"fr":"","en":"Under IAS 8, which characteristics must reliable information resulting from a policy developed by management have?","es":""},"explanation":{"fr":"","en":"Reliability requires faithful representation, reflection of economic substance, neutrality, prudence and completeness in all material respects (IAS 8, para. 10).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Be complete in all material respects.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Represent faithfully the financial position, financial performance and cash flows.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Be aligned with taxable profit.","es":""},"correct":false,"feedback":{"fr":"","en":"Tax alignment is not a required characteristic.","es":""}},{"id":"D","text":{"fr":"","en":"Be neutral.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Reflect economic substance and not merely legal form.","es":""},"correct":true},{"id":"F","text":{"fr":"","en":"Maximise reported profit.","es":""},"correct":false,"feedback":{"fr":"","en":"Profit-driven information is not neutral.","es":""}},{"id":"G","text":{"fr":"","en":"Be prudent.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000059","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000059","tested_point":"QST.IAS8.000059","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"objective-of-judgement"},"references":["IAS 8 §12"],"exercise":{"prompt":{"fr":"","en":"Which sources may management also consider, provided they do not conflict with the higher sources?","es":""},"explanation":{"fr":"","en":"Management may consider recent pronouncements of other standard-setters with a similar conceptual framework, other accounting literature and accepted industry practices, if they do not conflict with the paragraph 11 sources (IAS 8, para. 12).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Other accounting literature.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The most recent pronouncements of other standard-setters using a similar conceptual framework.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"A foreign pronouncement that conflicts with an IFRS dealing with a similar issue.","es":""},"correct":false,"feedback":{"fr":"","en":"Conflict with the paragraph 11 sources rules this source out.","es":""}},{"id":"D","text":{"fr":"","en":"Accepted industry practices.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The practice used in the entity's tax return.","es":""},"correct":false,"feedback":{"fr":"","en":"Taxation is not among these sources.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000060","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000060","tested_point":"QST.IAS8.000060","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"objective-of-judgement"},"references":["IAS 8 §11","IAS 8 §12"],"exercise":{"prompt":{"fr":"","en":"For a transaction that no IFRS specifically addresses (case data), which steps taken by Bromia comply with IAS 8?","es":""},"explanation":{"fr":"","en":"Management refers first to IFRSs dealing with similar issues, then to the Conceptual Framework (IAS 8, para. 11); it may then consider other non-conflicting sources, such as industry practice (IAS 8, para. 12).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Apply a foreign standard directly, without examining IFRSs or the Conceptual Framework.","es":""},"correct":false,"feedback":{"fr":"","en":"The higher sources are bypassed.","es":""}},{"id":"B","text":{"fr":"","en":"First examine IFRSs dealing with similar and related issues.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Then check whether the definitions and criteria of the Conceptual Framework apply.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Select the policy that achieves the budgeted profit target.","es":""},"correct":false,"feedback":{"fr":"","en":"A policy aimed at a profit target is not neutral.","es":""}},{"id":"E","text":{"fr":"","en":"Use an industry practice consistent with those sources, documenting the reasoning.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000061","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000061","tested_point":"QST.IAS8.000061","difficulty":"EXPERT","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":140,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"objective-of-judgement"},"references":["IAS 8 §10","IAS 8 §12"],"exercise":{"prompt":{"fr":"","en":"The Stélia group is choosing between two policies developed for a transaction not covered by IFRSs (case data). Policy X follows the legal form of an arrangement; policy Y reflects the actual economic exposure and relies on an industry practice consistent with the Conceptual Framework. Which conclusions are justified?","es":""},"explanation":{"fr":"","en":"A reliable policy reflects economic substance and not merely legal form, and it is neutral (IAS 8, para. 10); an industry practice may be considered if it does not conflict with the higher sources (IAS 8, para. 12).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Policy Y better meets the requirement of economic substance.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Policy X is preferable because legal form is more objective.","es":""},"correct":false,"feedback":{"fr":"","en":"Legal form alone does not meet the reliability requirement.","es":""}},{"id":"C","text":{"fr":"","en":"The industry practice must be rejected as a matter of principle.","es":""},"correct":false,"feedback":{"fr":"","en":"Industry practices are an allowed source, under a condition.","es":""}},{"id":"D","text":{"fr":"","en":"The industry practice may be used since it does not conflict with the higher sources.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The choice between X and Y may be made according to the effect on profit.","es":""},"correct":false,"feedback":{"fr":"","en":"The effect on profit is not a criterion: neutrality is required.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000064","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"APPLICATION","context":"V1_VG.IAS8.000003","tested_point":"VG.IAS8.000003","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"objective-of-judgement"},"references":["IAS 8 §11"],"exercise":{"prompt":{"fr":"","en":"Braunal receives tradable rights free of charge from a public authority; no IFRS specifically deals with these rights (case data). The accountant proposes to apply a national GAAP rule straight away. Which approach should be followed?","es":""},"explanation":{"fr":"","en":"When no IFRS applies, management refers, in order, to IFRSs dealing with similar and related issues, then to the definitions, criteria and concepts of the Conceptual Framework (IAS 8, para. 11).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Use the tax treatment of the rights, which offers an objective basis that a third party can verify.","es":""},"correct":false,"feedback":{"fr":"","en":"Taxation is not a source in the hierarchy.","es":""}},{"id":"B","text":{"fr":"","en":"Recognise nothing until the IASB issues a standard on these rights.","es":""},"correct":false,"feedback":{"fr":"","en":"The absence of a standard requires developing a policy, not abstaining.","es":""}},{"id":"C","text":{"fr":"","en":"First examine IFRSs dealing with similar and related issues, then the Conceptual Framework.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Apply the national rule, which is more detailed, since no IFRS covers these rights.","es":""},"correct":false,"feedback":{"fr":"","en":"Another GAAP only comes later, and without conflict with the higher sources.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000065","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"APPLICATION","context":"V1_VG.IAS8.000003","tested_point":"VG.IAS8.000003","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"objective-of-judgement"},"references":["IAS 8 §11","IAS 8 §12"],"exercise":{"prompt":{"fr":"","en":"The Fétède group enters into a new kind of capacity-sharing contract that no IFRS addresses (case data). A consultant recommends a foreign standard-setter's pronouncement, which the team has compared neither with neighbouring IFRSs nor with the Conceptual Framework. How should this be assessed?","es":""},"explanation":{"fr":"","en":"Management first examines IFRSs dealing with similar issues, then the Conceptual Framework (IAS 8, para. 11); a foreign pronouncement is only allowed if it does not conflict with those sources (IAS 8, para. 12).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The approach is correct: a recent foreign pronouncement is always enough.","es":""},"correct":false,"feedback":{"fr":"","en":"It may only be used when it does not conflict with the higher sources.","es":""}},{"id":"B","text":{"fr":"","en":"The approach is incomplete: neighbouring IFRSs and the Conceptual Framework must be examined first.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The approach is correct if the foreign standard-setter is that of the parent's country.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard-setter's nationality does not change the order of sources.","es":""}},{"id":"D","text":{"fr":"","en":"The approach is correct if the auditor approves the foreign pronouncement before the close.","es":""},"correct":false,"feedback":{"fr":"","en":"The auditor's approval does not remove the need to follow the hierarchy.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000066","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000066","tested_point":"QST.IAS8.000066","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"objective-of-judgement"},"references":["IAS 8 §10"],"exercise":{"prompt":{"fr":"","en":"Plaline is developing a policy for an arrangement not covered by IFRSs (case data). The draft policy follows the legal form (a sale) although Plaline keeps, in substance, the use and risks of the asset. What is the conclusion?","es":""},"explanation":{"fr":"","en":"Reliable information reflects the economic substance of transactions and not merely their legal form (IAS 8, para. 10). Plaline's retention of use and risks must be reflected.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The policy is reliable if it reflects the tax treatment of the arrangement.","es":""},"correct":false,"feedback":{"fr":"","en":"Tax treatment is not the test.","es":""}},{"id":"B","text":{"fr":"","en":"The policy is not reliable: it favours legal form over economic substance.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The policy is reliable as long as it is applied consistently from one year to the next.","es":""},"correct":false,"feedback":{"fr":"","en":"Consistency does not cure a policy that ignores substance.","es":""}},{"id":"D","text":{"fr":"","en":"The policy is reliable because the legal form is documented by a signed contract.","es":""},"correct":false,"feedback":{"fr":"","en":"A signed contract only establishes the legal form.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000067","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000067","tested_point":"QST.IAS8.000067","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"objective-of-judgement"},"references":["IAS 8 §11","IAS 8 §12"],"exercise":{"prompt":{"fr":"","en":"In Quavence's industry, a widespread practice is to recognise no obligation for a commitment that nevertheless meets the Conceptual Framework definition of a liability. No IFRS specifically addresses this commitment (case data). May Quavence follow this practice?","es":""},"explanation":{"fr":"","en":"The Conceptual Framework is a higher source (IAS 8, para. 11); accepted industry practices may only be considered if they do not conflict with those sources (IAS 8, para. 12).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Yes, if most listed competitors have applied the same practice for several years.","es":""},"correct":false,"feedback":{"fr":"","en":"How widespread the practice is does not make it consistent with the higher sources.","es":""}},{"id":"B","text":{"fr":"","en":"Yes: an accepted industry practice overrides the Conceptual Framework.","es":""},"correct":false,"feedback":{"fr":"","en":"The reverse is true: the Conceptual Framework is a higher source.","es":""}},{"id":"C","text":{"fr":"","en":"No: an industry practice that conflicts with the Conceptual Framework definitions cannot be used.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Yes, provided the practice is described in the notes.","es":""},"correct":false,"feedback":{"fr":"","en":"A note does not remove the conflict.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000068","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000068","tested_point":"QST.IAS8.000068","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"objective-of-judgement"},"references":["IAS 8 §10"],"exercise":{"prompt":{"fr":"","en":"Semard developed a policy for a transaction not covered by IFRSs (case data). The closing file contains only the policy adopted, with neither the sources examined nor the reasoning. What is the main risk?","es":""},"explanation":{"fr":"","en":"The policy developed must produce relevant and reliable information (IAS 8, para. 10); documenting the sources consulted and the reasoning is the practical condition for showing this (good practice, professional judgement).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No risk: only the final policy needs to be kept.","es":""},"correct":false,"feedback":{"fr":"","en":"The reasoning followed must be demonstrable.","es":""}},{"id":"B","text":{"fr":"","en":"Having to apply the tax method by default, for lack of sufficient documentation.","es":""},"correct":false,"feedback":{"fr":"","en":"Taxation is never a default policy.","es":""}},{"id":"C","text":{"fr":"","en":"Having to restate all prior periods presented retrospectively.","es":""},"correct":false,"feedback":{"fr":"","en":"Lack of documentation is not, in itself, an error to be restated.","es":""}},{"id":"D","text":{"fr":"","en":"Being unable to demonstrate that the policy produces relevant and reliable information.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000069","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.HIERARCHY"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000069","tested_point":"QST.IAS8.000069","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000004","section_id":"objective-of-judgement"},"references":["IAS 8 §10"],"exercise":{"prompt":{"fr":"","en":"For a transaction not covered by IFRSs (case data), Gerède's management picks, out of two defensible policies, the one that spreads a large income item to 'smooth' profit over three years, with no other justification. Which requirement of the standard is at stake?","es":""},"explanation":{"fr":"","en":"Reliable information is, among other things, neutral, that is free from bias (IAS 8, para. 10). Choosing a policy to smooth profit reflects a bias.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Neutrality of the information, a component of reliability.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Comparability with other entities in the industry, which means following the majority practice.","es":""},"correct":false,"feedback":{"fr":"","en":"Majority practice is not the issue here.","es":""}},{"id":"C","text":{"fr":"","en":"Completeness, since the income is eventually recognised.","es":""},"correct":false,"feedback":{"fr":"","en":"The income is recognised; the problem is the bias of the choice.","es":""}},{"id":"D","text":{"fr":"","en":"None: smoothing profit is a recognised objective of an accounting policy.","es":""},"correct":false,"feedback":{"fr":"","en":"Smoothing is not a recognised objective.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000073","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.CONSISTENCY"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000073","tested_point":"QST.IAS8.000073","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000005","section_id":"consistency-rule"},"references":["IAS 8 §13"],"exercise":{"prompt":{"fr":"","en":"Without a category provided by an IFRS, an entity may apply different policies to inventories of the same nature depending on the warehouse holding them.","es":""},"explanation":{"fr":"","en":"An entity selects and applies its policies consistently for similar transactions, other events and conditions, unless an IFRS requires or permits categorisation (IAS 8, para. 13).","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000074","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.CONSISTENCY"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000074","tested_point":"QST.IAS8.000074","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000005","section_id":"consistency-rule"},"references":["IAS 8 §13"],"exercise":{"prompt":{"fr":"","en":"When an IFRS permits categories, the policy chosen for a category may vary from one transaction to another within that category.","es":""},"explanation":{"fr":"","en":"When an IFRS requires or permits categorisation, an appropriate policy is selected and applied consistently to each category (IAS 8, para. 13).","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000075","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.CONSISTENCY"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000075","tested_point":"QST.IAS8.000075","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000005","section_id":"consistency-rule"},"references":["IAS 8 §13"],"exercise":{"prompt":{"fr":"","en":"What principle does IAS 8 set for similar transactions?","es":""},"explanation":{"fr":"","en":"An entity selects and applies its accounting policies consistently for similar transactions, other events and conditions, unless an IFRS requires or permits categorisation (IAS 8, para. 13).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Let each subsidiary choose the policy that best suits its local constraints.","es":""},"correct":false,"feedback":{"fr":"","en":"Local choice does not justify different policies for similar items.","es":""}},{"id":"B","text":{"fr":"","en":"Change policy every year to follow developments in industry practice.","es":""},"correct":false,"feedback":{"fr":"","en":"Consistency rules out unjustified changes.","es":""}},{"id":"C","text":{"fr":"","en":"Apply the same policies to them, unless an IFRS requires or permits categorisation.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Choose, transaction by transaction, the policy that reduces the year's current tax.","es":""},"correct":false,"feedback":{"fr":"","en":"The tax effect is not a criterion for selecting a policy.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000076","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.CONSISTENCY"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000076","tested_point":"QST.IAS8.000076","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000005","section_id":"consistency-rule"},"references":["IAS 8 §13"],"exercise":{"prompt":{"fr":"","en":"In which case may an entity apply different policies to items within the same line item?","es":""},"explanation":{"fr":"","en":"Different policies are possible only if an IFRS requires or permits categorisation; an appropriate policy is then applied consistently to each category (IAS 8, para. 13).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"When an IFRS requires or permits categorisation, each category then following a consistent policy.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"When the items were acquired on different dates.","es":""},"correct":false,"feedback":{"fr":"","en":"The acquisition date does not create a category.","es":""}},{"id":"C","text":{"fr":"","en":"When management considers that one policy is more favourable for some of the items.","es":""},"correct":false,"feedback":{"fr":"","en":"Management's preference is not an exception.","es":""}},{"id":"D","text":{"fr":"","en":"When the amounts are material.","es":""},"correct":false,"feedback":{"fr":"","en":"Materiality does not allow different policies.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000077","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.CONSISTENCY"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000077","tested_point":"QST.IAS8.000077","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000005","section_id":"consistency-rule"},"references":["IAS 8 §13"],"exercise":{"prompt":{"fr":"","en":"The Drusax group measures identical spare parts using FIFO in its northern warehouse and weighted average cost in its southern one, 'out of local habit'. There is no difference in nature or use (case data). What is the error?","es":""},"explanation":{"fr":"","en":"Policies are applied consistently to similar items, unless an IFRS requires or permits categorisation (IAS 8, para. 13). A local habit is not a category.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"FIFO should have been applied in both warehouses because it is more prudent.","es":""},"correct":false,"feedback":{"fr":"","en":"Prudence does not determine the policy; consistency does.","es":""}},{"id":"B","text":{"fr":"","en":"Similar items are measured using different policies without a justified category.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"There is no error: each site may keep its habits if it applies them every year.","es":""},"correct":false,"feedback":{"fr":"","en":"Local continuity does not cure the inconsistency between sites.","es":""}},{"id":"D","text":{"fr":"","en":"Weighted average cost is prohibited for spare parts.","es":""},"correct":false,"feedback":{"fr":"","en":"The problem is not the formula itself but the inconsistency.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000078","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.CONSISTENCY"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000078","tested_point":"QST.IAS8.000078","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000005","section_id":"consistency-rule"},"references":["IAS 8 §13"],"exercise":{"prompt":{"fr":"","en":"The standard applicable to Fairia's fixed assets allows a measurement model to be chosen by class of assets (context data). Fairia applies the revaluation model to some of its land and the cost model to the rest, depending on price movements. What is the error?","es":""},"explanation":{"fr":"","en":"When an IFRS permits categorisation, an appropriate policy is applied consistently to each category (IAS 8, para. 13). Choosing plot by plot according to prices breaches this requirement.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Categorisation of assets is never permitted by IFRSs.","es":""},"correct":false,"feedback":{"fr":"","en":"An IFRS may require or permit categorisation.","es":""}},{"id":"B","text":{"fr":"","en":"There is no error: the category allows an asset-by-asset choice.","es":""},"correct":false,"feedback":{"fr":"","en":"The category allows different policies between categories, not asset by asset.","es":""}},{"id":"C","text":{"fr":"","en":"The cost model is prohibited whenever another model is available.","es":""},"correct":false,"feedback":{"fr":"","en":"The problem is the inconsistency, not the cost model.","es":""}},{"id":"D","text":{"fr":"","en":"Within the 'land' category, the policy is not applied consistently.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000079","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.CONSISTENCY"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000079","tested_point":"QST.IAS8.000079","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000005","section_id":"consistency-rule"},"references":["IAS 8 §13"],"exercise":{"prompt":{"fr":"","en":"The Jilval group holds two families of inventories of different nature and use; the applicable standard allows different cost formulas in that case (context data). Jilval applies FIFO to the first family and weighted average cost to the second, every year. How should this practice be described?","es":""},"explanation":{"fr":"","en":"When an IFRS permits categorisation, different policies may be appropriate, each applied consistently to its category (IAS 8, para. 13).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Non-compliant, unless the difference between the two formulas is immaterial.","es":""},"correct":false,"feedback":{"fr":"","en":"Materiality is not the issue here.","es":""}},{"id":"B","text":{"fr":"","en":"Compliant: each permitted category follows a policy applied consistently.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Compliant only if the auditor approved each formula.","es":""},"correct":false,"feedback":{"fr":"","en":"The auditor's approval is not a condition.","es":""}},{"id":"D","text":{"fr":"","en":"Non-compliant: one entity may use only one cost formula.","es":""},"correct":false,"feedback":{"fr":"","en":"A permitted categorisation allows different policies between categories.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000080","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.CONSISTENCY"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000080","tested_point":"QST.IAS8.000080","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000005","section_id":"consistency-rule"},"references":["IAS 8 §13"],"exercise":{"prompt":{"fr":"","en":"Quiline has just acquired a subsidiary that depreciates its trucks on a diminishing balance basis, whereas Quiline depreciates trucks with the same use on a straight-line basis. For the consolidated accounts, the controller proposes keeping both methods. What is the conclusion?","es":""},"explanation":{"fr":"","en":"Policies are applied consistently to similar transactions and conditions, unless an IFRS requires or permits categorisation (IAS 8, para. 13). Choosing the harmonised method, in light of the actual pattern of consumption, is a matter of judgement.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Similar assets must follow a consistent policy; harmonisation is needed unless a real difference in use is shown.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Keeping both methods complies if the diminishing balance method is more prudent.","es":""},"correct":false,"feedback":{"fr":"","en":"Prudence does not permit inconsistency.","es":""}},{"id":"C","text":{"fr":"","en":"Keeping both methods complies, as each company has its own policies.","es":""},"correct":false,"feedback":{"fr":"","en":"Similar assets within the same group call for a consistent policy.","es":""}},{"id":"D","text":{"fr":"","en":"The method that increases consolidated profit should be used.","es":""},"correct":false,"feedback":{"fr":"","en":"The effect on profit is not a criterion.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000081","standard_id":"IAS8","concept_ids":["IAS8.POLICIES.CONSISTENCY"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000081","tested_point":"QST.IAS8.000081","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000005","section_id":"consistency-rule"},"references":["IAS 8 §13"],"exercise":{"prompt":{"fr":"","en":"Fauscot has always included freight on purchases of goods in the cost of inventories. For a new supplier with similar deliveries, the accountant proposes expensing these costs directly. What should be done?","es":""},"explanation":{"fr":"","en":"An entity applies its policies consistently to similar transactions (IAS 8, para. 13).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Expense the costs if the supplier is foreign, whatever the nature of the deliveries.","es":""},"correct":false,"feedback":{"fr":"","en":"The supplier's origin does not change the nature of the transaction.","es":""}},{"id":"B","text":{"fr":"","en":"Expense the costs, since each supplier may follow its own policy.","es":""},"correct":false,"feedback":{"fr":"","en":"The supplier does not create a category within the meaning of the standard.","es":""}},{"id":"C","text":{"fr":"","en":"Apply the same treatment as for the other similar purchases.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Choose the simplest treatment for each new delivery.","es":""},"correct":false,"feedback":{"fr":"","en":"Simplicity does not justify inconsistency.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000082","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000082","tested_point":"QST.IAS8.000082","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"permitted-changes"},"references":["IAS 8 §14"],"exercise":{"prompt":{"fr":"","en":"A change in accounting policy is permitted as soon as it is documented and approved by the board of directors.","es":""},"explanation":{"fr":"","en":"An entity changes a policy only if an IFRS requires it or if the change results in reliable and more relevant information (IAS 8, para. 14). Documentation and approval are not enough.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000083","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000083","tested_point":"QST.IAS8.000083","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"permitted-changes"},"references":["IAS 8 §15"],"exercise":{"prompt":{"fr":"","en":"Because users compare financial statements over time, the same policies are applied from one period to the next, unless a change meets the criteria of the standard.","es":""},"explanation":{"fr":"","en":"Users must be able to identify trends; the same policies are therefore applied each period, unless a change meets the criteria in paragraph 14 (IAS 8, para. 15).","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000084","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000084","tested_point":"QST.IAS8.000084","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"permitted-changes"},"references":["IAS 8 §16"],"exercise":{"prompt":{"fr":"","en":"Applying a policy to transactions that differ in substance from those that occurred previously is not a change in accounting policy.","es":""},"explanation":{"fr":"","en":"The following are not changes in accounting policies: applying a policy to transactions that differ in substance from previous ones, and applying a new policy to transactions that did not occur before or were immaterial (IAS 8, para. 16).","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000085","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000085","tested_point":"QST.IAS8.000085","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"permitted-changes"},"references":["IAS 8 §14"],"exercise":{"prompt":{"fr":"","en":"In which cases may an entity change an accounting policy?","es":""},"explanation":{"fr":"","en":"A change in policy is possible only if it is required by an IFRS or if it results in financial statements providing reliable and more relevant information (IAS 8, para. 14).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"When the change increases reported profit or equity, which reassures lenders and improves solvency ratios.","es":""},"correct":false,"feedback":{"fr":"","en":"A favourable effect on profit is not an allowed reason.","es":""}},{"id":"B","text":{"fr":"","en":"When the tax authority accepts the new policy.","es":""},"correct":false,"feedback":{"fr":"","en":"The tax view is not an accounting criterion.","es":""}},{"id":"C","text":{"fr":"","en":"When the new chief executive prefers another policy.","es":""},"correct":false,"feedback":{"fr":"","en":"A manager's preference is not a reason.","es":""}},{"id":"D","text":{"fr":"","en":"When an IFRS requires it, or when the change provides reliable and more relevant information.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000086","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000086","tested_point":"QST.IAS8.000086","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"permitted-changes"},"references":["IAS 8 §17","IAS 8 §18"],"exercise":{"prompt":{"fr":"","en":"Mundac adopts the revaluation model for its property, plant and equipment for the first time. How is this change treated?","es":""},"explanation":{"fr":"","en":"The initial application of a policy to revalue assets under IAS 16 or IAS 38 is a change in policy dealt with as a revaluation under those standards (IAS 8, para. 17); paragraphs 19 to 31 do not apply to it (IAS 8, para. 18).","es":""},"common_error":{"fr":"","en":"Restating retrospectively the first adoption of the revaluation model.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As the correction of a prior period error.","es":""},"correct":false,"feedback":{"fr":"","en":"No error is involved.","es":""}},{"id":"B","text":{"fr":"","en":"As a change in accounting estimate, prospectively.","es":""},"correct":false,"feedback":{"fr":"","en":"Moving to the revaluation model is a change in policy, not in estimate.","es":""}},{"id":"C","text":{"fr":"","en":"As a revaluation under the standard on property, plant and equipment, not under IAS 8.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"By retrospective application, restating comparatives and opening equity of the earliest period presented.","es":""},"correct":false,"feedback":{"fr":"","en":"The IAS 8 requirements on retrospective application do not apply to this change.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000087","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000087","tested_point":"QST.IAS8.000087","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"permitted-changes"},"references":["IAS 8 §16"],"exercise":{"prompt":{"fr":"","en":"Which of the following situations is not a change in accounting policy?","es":""},"explanation":{"fr":"","en":"Applying a new policy to transactions that did not occur previously is not a change in accounting policy (IAS 8, para. 16).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Voluntarily moving from FIFO to weighted average cost for unchanged inventories.","es":""},"correct":false,"feedback":{"fr":"","en":"Changing formula for the same inventories is a change in policy.","es":""}},{"id":"B","text":{"fr":"","en":"Replacing one revenue recognition policy with another for the same contracts.","es":""},"correct":false,"feedback":{"fr":"","en":"Changing policy for the same contracts is a change in policy.","es":""}},{"id":"C","text":{"fr":"","en":"Applying a new IFRS that changes the accounting for existing transactions and requires transitional provisions.","es":""},"correct":false,"feedback":{"fr":"","en":"Initial application of an IFRS changing existing transactions is a change in policy.","es":""}},{"id":"D","text":{"fr":"","en":"Adopting a policy for a type of contract the entity had never entered into before.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000088","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000088","tested_point":"QST.IAS8.000088","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"permitted-changes"},"references":["IAS 8 §14","IAS 8 §16","IAS 8 §17"],"exercise":{"prompt":{"fr":"","en":"Which of the following situations are not dealt with as changes in policy under paragraphs 19 to 31 of IAS 8?","es":""},"explanation":{"fr":"","en":"Transactions that differ in substance, are new or were previously immaterial do not give rise to changes in policy (IAS 8, para. 16); the initial application of the revaluation model is dealt with under IAS 16 or IAS 38 (IAS 8, para. 17).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"First adopting the revaluation model for a class of property, plant and equipment.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"A change in the measurement basis of a class of existing assets required by a new IFRS.","es":""},"correct":false,"feedback":{"fr":"","en":"A change in measurement basis required by an IFRS is a change in policy (IAS 8, para. 14).","es":""}},{"id":"C","text":{"fr":"","en":"Voluntarily moving from one cost formula to another for the same inventories.","es":""},"correct":false,"feedback":{"fr":"","en":"This is a change in policy applied under IAS 8.","es":""}},{"id":"D","text":{"fr":"","en":"Adopting a policy for transactions that were previously immaterial.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Applying a policy to transactions that differ in substance from previous ones.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000089","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000089","tested_point":"QST.IAS8.000089","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"permitted-changes"},"references":["IAS 8 §14","IAS 8 §15"],"exercise":{"prompt":{"fr":"","en":"Which statements about the conditions for a voluntary change in policy are correct?","es":""},"explanation":{"fr":"","en":"A voluntary change must result in reliable and more relevant information (IAS 8, para. 14); consistency of policies meets the need to compare financial statements over time (IAS 8, para. 15).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The change is allowed if it simplifies the year-end close, even with no gain in information.","es":""},"correct":false,"feedback":{"fr":"","en":"Simplicity is not enough: the information must be more relevant.","es":""}},{"id":"B","text":{"fr":"","en":"A change is allowed if it brings the accounts closer to taxable profit.","es":""},"correct":false,"feedback":{"fr":"","en":"Moving closer to tax is not a criterion.","es":""}},{"id":"C","text":{"fr":"","en":"The change must result in reliable and more relevant information.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"A change may occur every year if each one is documented.","es":""},"correct":false,"feedback":{"fr":"","en":"Documentation does not replace the substantive condition.","es":""}},{"id":"E","text":{"fr":"","en":"Consistency of policies is explained by the need to compare financial statements over time.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000090","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"CALCULATION","context":"V1_VG.IAS8.000004","tested_point":"VG.IAS8.000004","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"permitted-changes"},"references":["IAS 8 §14"],"exercise":{"prompt":{"fr":"","en":"Girvac, with no opening inventory, bought {qty_1} units at {cost_1}, then {qty_2} units at {cost_2}, then {qty_3} units at {cost_3}, and sold {units_sold} units. It is considering a move from weighted average cost (computed over the period, teaching assumption) to FIFO. Compute closing inventory under each formula and the difference.","es":""},"explanation":{"fr":"","en":"A voluntary change is allowed only if it provides reliable and more relevant information (IAS 8, para. 14); the difference measures what is at stake. Closing inventory: 1,200 units. FIFO: units from the latest batches = 16,400. Average cost: (1,000 × 10 + 1,000 × 12 + 1,000 × 14) ÷ 3,000 = 12; 1,200 × 12 = 14,400. Difference: 2,000.","es":""},"common_error":{"fr":"","en":"Measuring FIFO inventory using the first batches purchased.","es":""},"format":"CALCULATION","placeholders":[{"id":"qty_1","value":"1000","unit":"UNITS"},{"id":"cost_1","value":"10","unit":"EUR"},{"id":"qty_2","value":"1000","unit":"UNITS"},{"id":"cost_2","value":"12","unit":"EUR"},{"id":"qty_3","value":"1000","unit":"UNITS"},{"id":"cost_3","value":"14","unit":"EUR"},{"id":"units_sold","value":"1800","unit":"UNITS"}],"data":[{"label":{"fr":"","en":"Quantity of batch 1","es":""},"value":"1000","unit":"UNITS"},{"label":{"fr":"","en":"Unit cost of batch 1","es":""},"value":"10","unit":"EUR"},{"label":{"fr":"","en":"Quantity of batch 2","es":""},"value":"1000","unit":"UNITS"},{"label":{"fr":"","en":"Unit cost of batch 2","es":""},"value":"12","unit":"EUR"},{"label":{"fr":"","en":"Quantity of batch 3","es":""},"value":"1000","unit":"UNITS"},{"label":{"fr":"","en":"Unit cost of batch 3","es":""},"value":"14","unit":"EUR"},{"label":{"fr":"","en":"Units sold","es":""},"value":"1800","unit":"UNITS"}],"steps":[{"id":"FIFO_VALUE","label":{"fr":"","en":"Closing inventory under FIFO","es":""},"answer":16400,"tolerance":0,"unit":"EUR"},{"id":"WA_VALUE","label":{"fr":"","en":"Closing inventory at weighted average cost","es":""},"answer":14400,"tolerance":0,"unit":"EUR"},{"id":"DIFFERENCE","label":{"fr":"","en":"Measurement difference","es":""},"answer":2000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000091","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"CALCULATION","context":"V1_VG.IAS8.000004","tested_point":"VG.IAS8.000004","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"permitted-changes"},"references":["IAS 8 §14"],"exercise":{"prompt":{"fr":"","en":"To support a possible change of cost formula, Paimane's controller quantifies the measurement difference. Data for the year, with no opening inventory: purchase of {qty_1} items at a unit cost of {cost_1}, then of {qty_2} items at {cost_2}; {units_sold} items sold. Weighted average cost computed over the period (teaching assumption). What is closing inventory under each formula?","es":""},"explanation":{"fr":"","en":"A voluntary change is allowed only if it provides reliable and more relevant information (IAS 8, para. 14); the difference measures what is at stake. Closing inventory: 1,500 units. FIFO: units from the latest batches = 37,500. Average cost: (2,000 × 20 + 3,000 × 25) ÷ 5,000 = 23; 1,500 × 23 = 34,500. Difference: 3,000.","es":""},"common_error":{"fr":"","en":"Measuring FIFO inventory using the first batches purchased.","es":""},"format":"CALCULATION","placeholders":[{"id":"qty_1","value":"2000","unit":"UNITS"},{"id":"cost_1","value":"20","unit":"EUR"},{"id":"qty_2","value":"3000","unit":"UNITS"},{"id":"cost_2","value":"25","unit":"EUR"},{"id":"units_sold","value":"3500","unit":"UNITS"}],"data":[{"label":{"fr":"","en":"Quantity of batch 1","es":""},"value":"2000","unit":"UNITS"},{"label":{"fr":"","en":"Unit cost of batch 1","es":""},"value":"20","unit":"EUR"},{"label":{"fr":"","en":"Quantity of batch 2","es":""},"value":"3000","unit":"UNITS"},{"label":{"fr":"","en":"Unit cost of batch 2","es":""},"value":"25","unit":"EUR"},{"label":{"fr":"","en":"Units sold","es":""},"value":"3500","unit":"UNITS"}],"steps":[{"id":"FIFO_VALUE","label":{"fr":"","en":"Closing inventory under FIFO","es":""},"answer":37500,"tolerance":0,"unit":"EUR"},{"id":"WA_VALUE","label":{"fr":"","en":"Closing inventory at weighted average cost","es":""},"answer":34500,"tolerance":0,"unit":"EUR"},{"id":"DIFFERENCE","label":{"fr":"","en":"Measurement difference","es":""},"answer":3000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000092","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS","IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000092","tested_point":"QST.IAS8.000092","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"permitted-changes"},"references":["IAS 8 §14","IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"Plirgois voluntarily moves to a cost formula that values its inventories higher: by {opening_difference} at the beginning of the comparative year and by {closing_difference} at its end. By how much does restated comparative profit before tax increase?","es":""},"explanation":{"fr":"","en":"The change, allowed if it provides reliable and more relevant information (IAS 8, para. 14), is applied to comparatives as if the policy had always been applied (IAS 8, para. 22). Cost of sales falls by the closing difference and rises by the opening difference: 18,000 − 11,000 = 7,000.","es":""},"common_error":{"fr":"","en":"Taking the whole closing difference as the effect on the year's profit.","es":""},"format":"CALCULATION","placeholders":[{"id":"opening_difference","value":"11000","unit":"EUR"},{"id":"closing_difference","value":"18000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Difference on opening inventory","es":""},"value":"11000","unit":"EUR"},{"label":{"fr":"","en":"Difference on closing inventory","es":""},"value":"18000","unit":"EUR"}],"steps":[{"id":"PROFIT_EFFECT","label":{"fr":"","en":"Increase in comparative profit before tax","es":""},"answer":7000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"PROFIT_EFFECT","meaning":{"fr":"","en":"Increase in comparative profit before tax","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Difference on closing inventory","es":""},"value":18000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Difference on opening inventory","es":""},"value":11000,"unit":"EUR"}],"result":7000,"unit":"EUR"}],"rationale":{"fr":"","en":"The change, allowed if it provides reliable and more relevant information (IAS 8, para. 14), is applied to comparatives as if the policy had always been applied (IAS 8, para. 22).","es":""},"references":["REF.IAS8.14","REF.IAS8.22"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000093","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000093","tested_point":"QST.IAS8.000093","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"permitted-changes"},"references":["IAS 8 §14"],"exercise":{"prompt":{"fr":"","en":"Extract from Brorois's file: 'We are moving from weighted average cost to FIFO, because this choice increases this year's reported margin. The board approved it and the decision is documented.' What is the weakness of the file?","es":""},"explanation":{"fr":"","en":"A voluntary change is permitted only if it results in reliable and more relevant information (IAS 8, para. 14). A higher margin does not prove this.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Moving to FIFO is prohibited as a matter of principle.","es":""},"correct":false,"feedback":{"fr":"","en":"FIFO is not prohibited; the justification is what is missing.","es":""}},{"id":"B","text":{"fr":"","en":"It does not show that the new policy provides reliable and more relevant information.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Board approval should have been shareholders' approval, the only body competent to change an accounting policy.","es":""},"correct":false,"feedback":{"fr":"","en":"The approving body is not the standard's criterion.","es":""}},{"id":"D","text":{"fr":"","en":"None: documentation and approval are enough.","es":""},"correct":false,"feedback":{"fr":"","en":"Documentation and approval do not replace the substantive condition.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000094","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000094","tested_point":"QST.IAS8.000094","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"permitted-changes"},"references":["IAS 8 §17","IAS 8 §18"],"exercise":{"prompt":{"fr":"","en":"Jeumac adopts the revaluation model for its land for the first time. Its accountant restates comparatives and opening equity of the earliest period presented 'as for any voluntary change'. What is the error?","es":""},"explanation":{"fr":"","en":"The initial application of a policy to revalue assets under IAS 16 or IAS 38 is dealt with as a revaluation under those standards (IAS 8, para. 17); paragraphs 19 to 31 do not apply to it (IAS 8, para. 18).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"This change is dealt with as a revaluation under the standard concerned, without applying paragraphs 19 to 31 of IAS 8.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The revaluation model can never be adopted after the cost model.","es":""},"correct":false,"feedback":{"fr":"","en":"Adopting the revaluation model is possible; its treatment is what is wrong.","es":""}},{"id":"C","text":{"fr":"","en":"The adoption should have been treated as a change in estimate.","es":""},"correct":false,"feedback":{"fr":"","en":"It is a change in policy, dealt with as a revaluation.","es":""}},{"id":"D","text":{"fr":"","en":"Comparatives should have been restated, but not opening equity.","es":""},"correct":false,"feedback":{"fr":"","en":"No retrospective restatement is required for this change.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000095","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000095","tested_point":"QST.IAS8.000095","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"permitted-changes"},"references":["IAS 8 §14"],"exercise":{"prompt":{"fr":"","en":"Nondot is considering changing the policy for presenting a line item. Three justifications are put forward. Which one can support a voluntary change?","es":""},"explanation":{"fr":"","en":"A voluntary change must result in financial statements providing reliable and more relevant information about financial position, performance or cash flows (IAS 8, para. 14). Assessing increased relevance is a matter of judgement, to be documented.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The new policy reduces the accounting team's workload.","es":""},"correct":false,"feedback":{"fr":"","en":"Saving time is not a criterion.","es":""}},{"id":"B","text":{"fr":"","en":"The foreign parent uses this policy in its local accounts.","es":""},"correct":false,"feedback":{"fr":"","en":"The parent's practice is not enough.","es":""}},{"id":"C","text":{"fr":"","en":"The new policy makes profit less volatile from one year to the next, which pleases investors and eases the group's financial communication.","es":""},"correct":false,"feedback":{"fr":"","en":"Reducing volatility is not a relevance criterion.","es":""}},{"id":"D","text":{"fr":"","en":"Analysts and lenders use information that the new policy makes more relevant, with no loss of reliability.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000096","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000096","tested_point":"QST.IAS8.000096","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"permitted-changes"},"references":["IAS 8 §14"],"exercise":{"prompt":{"fr":"","en":"A new IFRS, effective from this year, changes the accounting for a class of Gelbenne's contracts. Must Gelbenne show that the change provides more relevant information?","es":""},"explanation":{"fr":"","en":"An entity changes a policy if an IFRS requires it, or voluntarily if the change provides reliable and more relevant information (IAS 8, para. 14). The two reasons are distinct.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No: the change is required by an IFRS, which is enough to justify it.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Yes: every change in policy must show increased relevance, including one resulting from a new mandatory IFRS.","es":""},"correct":false,"feedback":{"fr":"","en":"Showing relevance only concerns voluntary changes.","es":""}},{"id":"C","text":{"fr":"","en":"Yes, otherwise it may keep its former policy.","es":""},"correct":false,"feedback":{"fr":"","en":"A mandatory IFRS cannot be set aside.","es":""}},{"id":"D","text":{"fr":"","en":"No, but it must obtain its auditor's agreement.","es":""},"correct":false,"feedback":{"fr":"","en":"The auditor's agreement is not a condition.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000097","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000097","tested_point":"QST.IAS8.000097","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"permitted-changes"},"references":["IAS 8 §16"],"exercise":{"prompt":{"fr":"","en":"Kindouël, until now only an occupier of its premises, leases a building to a third party for the first time and adopts a policy for this type of property. The controller wants to restate comparatives 'for the change in policy'. What is the answer?","es":""},"explanation":{"fr":"","en":"Applying a new policy to transactions or conditions that did not occur previously is not a change in accounting policy (IAS 8, para. 16): no restatement is required on that account.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It is a voluntary change to be applied retrospectively.","es":""},"correct":false,"feedback":{"fr":"","en":"No previous policy is replaced for these transactions.","es":""}},{"id":"B","text":{"fr":"","en":"There is no change in policy: the policy applies to transactions that had not occurred before.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"It is a change in estimate, to be dealt with prospectively from the date the building is first leased out.","es":""},"correct":false,"feedback":{"fr":"","en":"This is not an accounting estimate.","es":""}},{"id":"D","text":{"fr":"","en":"It is a prior period error, since the policy did not exist.","es":""},"correct":false,"feedback":{"fr":"","en":"Having no policy for a transaction that did not exist is not an error.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000098","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.CONDITIONS"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000098","tested_point":"QST.IAS8.000098","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000006","section_id":"permitted-changes"},"references":["IAS 8 §16"],"exercise":{"prompt":{"fr":"","en":"The Vaulvot group used to sell standard equipment delivered within a few days. It now enters into multi-year design contracts, different in substance (case data), and applies a separate policy to them. Should this choice be treated as a change in policy?","es":""},"explanation":{"fr":"","en":"Applying a policy to transactions that differ in substance from those that occurred previously is not a change in accounting policy (IAS 8, para. 16). Assessing the difference in substance is a matter of judgement, provided here by the case.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No, because it is an error correction.","es":""},"correct":false,"feedback":{"fr":"","en":"No error is involved.","es":""}},{"id":"B","text":{"fr":"","en":"Yes, and the sales of standard equipment must also follow the new policy.","es":""},"correct":false,"feedback":{"fr":"","en":"Standard sales, unchanged, keep their policy.","es":""}},{"id":"C","text":{"fr":"","en":"No: applying a policy to transactions that differ in substance is not a change in policy.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Yes: every new policy in the group is a voluntary change.","es":""},"correct":false,"feedback":{"fr":"","en":"A policy for transactions that differ in substance is not a change.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000101","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.APPLYING"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000101","tested_point":"QST.IAS8.000101","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000007","section_id":"transitional-provisions"},"references":["IAS 8 §19"],"exercise":{"prompt":{"fr":"","en":"A change in policy resulting from the initial application of an IFRS is accounted for under the specific transitional provisions of that IFRS, if any.","es":""},"explanation":{"fr":"","en":"The initial application of an IFRS follows its specific transitional provisions; in their absence, the change is applied retrospectively (IAS 8, para. 19).","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000102","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.APPLYING"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000102","tested_point":"QST.IAS8.000102","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000007","section_id":"transitional-provisions"},"references":["IAS 8 §19"],"exercise":{"prompt":{"fr":"","en":"A voluntary change in accounting policy is applied prospectively, from the date of the change.","es":""},"explanation":{"fr":"","en":"A voluntary change in accounting policy is applied retrospectively (IAS 8, para. 19).","es":""},"common_error":{"fr":"","en":"Applying the prospective treatment of estimates to a voluntary change in policy.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000103","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.APPLYING"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000103","tested_point":"QST.IAS8.000103","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000007","section_id":"transitional-provisions"},"references":["IAS 8 §20"],"exercise":{"prompt":{"fr":"","en":"Early application of an IFRS, before its mandatory effective date, is a voluntary change in accounting policy.","es":""},"explanation":{"fr":"","en":"Early application of an IFRS is not a voluntary change in accounting policy (IAS 8, para. 20).","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000104","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.APPLYING"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000104","tested_point":"QST.IAS8.000104","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000007","section_id":"transitional-provisions"},"references":["IAS 8 §19"],"exercise":{"prompt":{"fr":"","en":"A new IFRS applied for the first time by Neumine has no specific transitional provisions. How is the change applied?","es":""},"explanation":{"fr":"","en":"In the absence of specific transitional provisions, a change resulting from the initial application of an IFRS is applied retrospectively (IAS 8, para. 19).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"By recognising the cumulative effect in the year's profit.","es":""},"correct":false,"feedback":{"fr":"","en":"The cumulative effect is not recognised in profit.","es":""}},{"id":"B","text":{"fr":"","en":"At the entity's choice, provided it says so in the notes.","es":""},"correct":false,"feedback":{"fr":"","en":"IAS 8 does not leave this choice.","es":""}},{"id":"C","text":{"fr":"","en":"Retrospectively.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Prospectively, from the date the new standard is first applied.","es":""},"correct":false,"feedback":{"fr":"","en":"Prospective application is not the default treatment.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000105","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.APPLYING"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000105","tested_point":"QST.IAS8.000105","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000007","section_id":"transitional-provisions"},"references":["IAS 8 §19"],"exercise":{"prompt":{"fr":"","en":"Gulbore voluntarily moves from one accounting policy to another, more relevant one. How does it apply the change?","es":""},"explanation":{"fr":"","en":"A voluntary change in accounting policy is applied retrospectively (IAS 8, para. 19).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Prospectively, without altering the comparatives published the previous year.","es":""},"correct":false,"feedback":{"fr":"","en":"Prospective treatment does not apply to a voluntary change.","es":""}},{"id":"B","text":{"fr":"","en":"In the current year only, through an entry in profit or loss.","es":""},"correct":false,"feedback":{"fr":"","en":"The change is not recognised in the year's profit alone.","es":""}},{"id":"C","text":{"fr":"","en":"Under the transitional provisions of the new policy.","es":""},"correct":false,"feedback":{"fr":"","en":"A voluntary change has no transitional provisions of its own.","es":""}},{"id":"D","text":{"fr":"","en":"Retrospectively.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000106","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.APPLYING"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000106","tested_point":"QST.IAS8.000106","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000007","section_id":"transitional-provisions"},"references":["IAS 8 §19"],"exercise":{"prompt":{"fr":"","en":"A new IFRS allows, in its transitional provisions, the cumulative effect to be recognised at the date of initial application without restating comparatives. Fargenne's finance director nevertheless wants to apply the general retrospective treatment of IAS 8. What should be done?","es":""},"explanation":{"fr":"","en":"A change resulting from the initial application of an IFRS is accounted for under its specific transitional provisions; retrospective treatment applies only in their absence (IAS 8, para. 19). Any options within those provisions are a matter for the new IFRS itself.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The specific transitional provisions of the new IFRS apply.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The entity must apply the new IFRS prospectively, without any adjustment.","es":""},"correct":false,"feedback":{"fr":"","en":"The new IFRS requires an adjustment at the date of initial application.","es":""}},{"id":"C","text":{"fr":"","en":"The general retrospective treatment of IAS 8 always overrides other standards' transitional provisions, whatever the new IFRS.","es":""},"correct":false,"feedback":{"fr":"","en":"The reverse is true: retrospective treatment applies only when there are no transitional provisions.","es":""}},{"id":"D","text":{"fr":"","en":"The entity may defer applying the new IFRS.","es":""},"correct":false,"feedback":{"fr":"","en":"An effective IFRS cannot be deferred.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000107","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.APPLYING"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000107","tested_point":"QST.IAS8.000107","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000007","section_id":"transitional-provisions"},"references":["IAS 8 §20"],"exercise":{"prompt":{"fr":"","en":"Taudède early-applies an amendment to a standard that has been issued but is not yet mandatory. How should this application be described?","es":""},"explanation":{"fr":"","en":"Early application of an IFRS is not a voluntary change in accounting policy (IAS 8, para. 20).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It is a change in estimate.","es":""},"correct":false,"feedback":{"fr":"","en":"This is a policy issue, not an estimate.","es":""}},{"id":"B","text":{"fr":"","en":"It is not a voluntary change in accounting policy.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"It is an error correction, since the old policy is going to disappear.","es":""},"correct":false,"feedback":{"fr":"","en":"No error is involved.","es":""}},{"id":"D","text":{"fr":"","en":"It is a voluntary change, which must be justified by information more relevant than that provided by the old policy.","es":""},"correct":false,"feedback":{"fr":"","en":"Early application is not a voluntary change.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000108","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.APPLYING"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000108","tested_point":"QST.IAS8.000108","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000007","section_id":"transitional-provisions"},"references":["IAS 8 §19"],"exercise":{"prompt":{"fr":"","en":"Which of the following changes are applied under the retrospective treatment of IAS 8?","es":""},"explanation":{"fr":"","en":"Retrospective treatment applies to voluntary changes and to the initial application of an IFRS with no specific transitional provisions; otherwise, those provisions apply (IAS 8, para. 19).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The initial application of an IFRS whose transitional provisions provide for an adjustment at the date of initial application.","es":""},"correct":false,"feedback":{"fr":"","en":"The specific transitional provisions apply.","es":""}},{"id":"B","text":{"fr":"","en":"The initial application of an IFRS with no specific transitional provisions.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Revising the useful life of equipment.","es":""},"correct":false,"feedback":{"fr":"","en":"A change in estimate is prospective.","es":""}},{"id":"D","text":{"fr":"","en":"A voluntary change in accounting policy.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The initial application of an IFRS whose transitional provisions require prospective application.","es":""},"correct":false,"feedback":{"fr":"","en":"The specific transitional provisions apply.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000109","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.APPLYING"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000109","tested_point":"QST.IAS8.000109","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000007","section_id":"transitional-provisions"},"references":["IAS 8 §19","IAS 8 §20"],"exercise":{"prompt":{"fr":"","en":"Which statements about the initial application of an IFRS and its early application are correct?","es":""},"explanation":{"fr":"","en":"Initial application of an IFRS follows its transitional provisions, otherwise it is retrospective (IAS 8, para. 19); early application is not a voluntary change (IAS 8, para. 20).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Without specific transitional provisions, initial application of an IFRS is retrospective.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The specific transitional provisions of a new IFRS are applied first.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"An entity may always choose to apply a new IFRS prospectively.","es":""},"correct":false,"feedback":{"fr":"","en":"The method of application depends on the transitional provisions or, failing them, is retrospective.","es":""}},{"id":"D","text":{"fr":"","en":"Early application of an IFRS is not a voluntary change in policy.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Early application of an IFRS is a voluntary change, to be justified as such.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard expressly excludes this classification.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000110","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.APPLYING"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000110","tested_point":"QST.IAS8.000110","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000007","section_id":"transitional-provisions"},"references":["IAS 8 §19"],"exercise":{"prompt":{"fr":"","en":"The Zilvane group applies for the first time an IFRS whose transitional provisions require an adjustment to equity at the date of initial application, without restating comparatives. The team has prepared a full restatement of the two years presented. What is the conclusion?","es":""},"explanation":{"fr":"","en":"A change resulting from the initial application of an IFRS is accounted for under its specific transitional provisions (IAS 8, para. 19). Here, they require an adjustment at the date of initial application, without restating comparatives (case data).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The full restatement is preferable, as more informative than the transitional provisions.","es":""},"correct":false,"feedback":{"fr":"","en":"Transitional provisions are not an option that can be set aside.","es":""}},{"id":"B","text":{"fr":"","en":"The full restatement does not comply: the IFRS's transitional provisions must be followed.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"No adjustment is required, either at the opening date or on comparatives, since the new IFRS only concerns future transactions.","es":""},"correct":false,"feedback":{"fr":"","en":"The transitional provisions require an adjustment at the date of initial application.","es":""}},{"id":"D","text":{"fr":"","en":"The full restatement complies, IAS 8 leaving the choice to the entity.","es":""},"correct":false,"feedback":{"fr":"","en":"IAS 8 leaves no choice when transitional provisions exist.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000111","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.APPLYING"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000111","tested_point":"QST.IAS8.000111","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000007","section_id":"transitional-provisions"},"references":["IAS 8 §20"],"exercise":{"prompt":{"fr":"","en":"Gernax early-applies a new IFRS. Its finance director is preparing a note justifying this choice as a voluntary change 'providing more relevant information'. How should this approach be analysed?","es":""},"explanation":{"fr":"","en":"Early application of an IFRS is not a voluntary change in accounting policy (IAS 8, para. 20); the note should therefore not present it as one.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Early application is prohibited: Gernax must wait for the mandatory effective date of the new IFRS.","es":""},"correct":false,"feedback":{"fr":"","en":"IAS 8 does not prohibit early application; it is simply not a voluntary change.","es":""}},{"id":"B","text":{"fr":"","en":"The approach is correct: any early application must show increased relevance.","es":""},"correct":false,"feedback":{"fr":"","en":"Early application is not subject to the voluntary-change test.","es":""}},{"id":"C","text":{"fr":"","en":"The approach is correct if the IFRS becomes effective less than one year later.","es":""},"correct":false,"feedback":{"fr":"","en":"The time before the effective date does not change the classification.","es":""}},{"id":"D","text":{"fr":"","en":"The classification is wrong: early application is not a voluntary change.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000112","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.APPLYING"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000112","tested_point":"QST.IAS8.000112","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000007","section_id":"transitional-provisions"},"references":["IAS 8 §19"],"exercise":{"prompt":{"fr":"","en":"Fylvac decides to move from FIFO to weighted average cost, which it considers more representative of its flows. No new IFRS is involved. What must Fylvac do?","es":""},"explanation":{"fr":"","en":"A voluntary change in accounting policy is applied retrospectively (IAS 8, para. 19).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Wait until an IFRS requires the change.","es":""},"correct":false,"feedback":{"fr":"","en":"A voluntary change is possible if it provides more relevant information.","es":""}},{"id":"B","text":{"fr":"","en":"Apply the new formula to future purchases only, without touching existing inventories or comparatives.","es":""},"correct":false,"feedback":{"fr":"","en":"Prospective application is not the treatment of a voluntary change.","es":""}},{"id":"C","text":{"fr":"","en":"Apply the change retrospectively.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Correct prior years as errors.","es":""},"correct":false,"feedback":{"fr":"","en":"The former formula was not an error.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000113","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.APPLYING"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000113","tested_point":"QST.IAS8.000113","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000007","section_id":"transitional-provisions"},"references":["IAS 8 §19"],"exercise":{"prompt":{"fr":"","en":"A new IFRS, with no specific transitional provisions, applies for the first time to the 2025 accounts of Vélbian, which presents 2025 and 2024. Which treatment should be used?","es":""},"explanation":{"fr":"","en":"In the absence of specific transitional provisions, initial application of an IFRS is retrospective (IAS 8, para. 19): the policy is applied as if it had always been applied.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Apply the new policy retrospectively: 2024 comparatives restated and equity at 1 January 2024 adjusted.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Recognise the cumulative effect in 2025 profit.","es":""},"correct":false,"feedback":{"fr":"","en":"The cumulative effect is not recognised in profit.","es":""}},{"id":"C","text":{"fr":"","en":"Adjust only equity at 1 January 2025, without restating the 2024 comparatives.","es":""},"correct":false,"feedback":{"fr":"","en":"Retrospective application also restates comparatives.","es":""}},{"id":"D","text":{"fr":"","en":"Apply the new policy from 1 January 2025 without restatement.","es":""},"correct":false,"feedback":{"fr":"","en":"Prospective application applies only if the transitional provisions provide for it.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000114","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.APPLYING"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000114","tested_point":"QST.IAS8.000114","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000007","section_id":"transitional-provisions"},"references":["IAS 8 §19","IAS 8 §20"],"exercise":{"prompt":{"fr":"","en":"In the same year, Pailbix (1) early-applies an IFRS that has transitional provisions and (2) voluntarily changes its inventory cost formula. Which combination of treatments is correct?","es":""},"explanation":{"fr":"","en":"Initial application of an IFRS follows its transitional provisions and a voluntary change is retrospective (IAS 8, para. 19); early application is not a voluntary change (IAS 8, para. 20).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"(1) and (2) retrospectively, as two voluntary changes.","es":""},"correct":false,"feedback":{"fr":"","en":"Early application is not a voluntary change and follows its transitional provisions.","es":""}},{"id":"B","text":{"fr":"","en":"(1) prospectively, as a change in estimate, and (2) under transitional provisions chosen by the entity.","es":""},"correct":false,"feedback":{"fr":"","en":"An IFRS is not a change in estimate, and a voluntary change has no transitional provisions.","es":""}},{"id":"C","text":{"fr":"","en":"(1) and (2) in the year's profit.","es":""},"correct":false,"feedback":{"fr":"","en":"Neither change is recognised in the year's profit alone.","es":""}},{"id":"D","text":{"fr":"","en":"(1) under the IFRS's transitional provisions, without being a voluntary change; (2) retrospectively.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000115","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000115","tested_point":"QST.IAS8.000115","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"retrospective-rule"},"references":["IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"What does an entity actually do when it applies a new accounting policy retrospectively?","es":""},"explanation":{"fr":"","en":"Retrospective application means adjusting the opening balance of each affected component of equity for the earliest prior period presented and the other comparative amounts, as if the new policy had always been applied (IAS 8, para. 22).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It adjusts opening equity of the earliest period presented and the other comparative amounts.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"It adjusts only the opening statement of financial position of the current period.","es":""},"correct":false,"feedback":{"fr":"","en":"Comparatives and the opening of the earliest period presented are adjusted.","es":""}},{"id":"C","text":{"fr":"","en":"It recognises the cumulative effect of the change in current period profit.","es":""},"correct":false,"feedback":{"fr":"","en":"The cumulative effect is not recognised in the period's profit.","es":""}},{"id":"D","text":{"fr":"","en":"It applies the policy only to transactions after the date of the change, without touching the financial statements already published for prior periods.","es":""},"correct":false,"feedback":{"fr":"","en":"This describes prospective application.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000116","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000116","tested_point":"QST.IAS8.000116","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"retrospective-rule"},"references":["IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"Keundade voluntarily changes a policy in 2025 and presents 2025 and 2024. At what date does it adjust opening equity?","es":""},"explanation":{"fr":"","en":"The opening balance of each affected component of equity is adjusted for the earliest prior period presented (IAS 8, para. 22), that is 1 January 2024.","es":""},"common_error":{"fr":"","en":"Adjusting opening equity of the current year.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"At 31 December 2025.","es":""},"correct":false,"feedback":{"fr":"","en":"The reporting date is not the date for adjusting opening equity.","es":""}},{"id":"B","text":{"fr":"","en":"At the date of the board's decision.","es":""},"correct":false,"feedback":{"fr":"","en":"The decision date does not determine the adjustment date.","es":""}},{"id":"C","text":{"fr":"","en":"At 1 January 2024.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"At 1 January 2025, the opening date of the year in which the change is decided.","es":""},"correct":false,"feedback":{"fr":"","en":"The adjustment is made at the opening of the earliest period presented, not of the current period.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000117","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000117","tested_point":"QST.IAS8.000117","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"retrospective-rule"},"references":["IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"Morgorn, subject to local regulation, presents three years (2025, 2024, 2023) and voluntarily changes a policy in 2025. Which equity balance is adjusted?","es":""},"explanation":{"fr":"","en":"The adjustment is made to the opening balance of the earliest prior period presented (IAS 8, para. 22): with three years presented, that is 1 January 2023.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The one at 1 January 2024.","es":""},"correct":false,"feedback":{"fr":"","en":"2024 is not the earliest period presented here.","es":""}},{"id":"B","text":{"fr":"","en":"The one at 1 January 2023.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The one at 1 January 2025.","es":""},"correct":false,"feedback":{"fr":"","en":"The opening of the current period is not the relevant date.","es":""}},{"id":"D","text":{"fr":"","en":"None: only 2023 and 2024 profits are restated, opening equity remaining as published.","es":""},"correct":false,"feedback":{"fr":"","en":"Opening equity of the earliest period presented is adjusted.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000118","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000118","tested_point":"QST.IAS8.000118","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"retrospective-rule"},"references":["IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"Rurnard's change in policy affects both retained earnings and another component of equity. What does IAS 8 require for the opening of the earliest period presented?","es":""},"explanation":{"fr":"","en":"Retrospective application adjusts the opening balance of each affected component of equity for the earliest prior period presented (IAS 8, para. 22).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Put the whole adjustment in retained earnings, for simplicity, whatever component is actually affected.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard refers to each affected component, not a combination.","es":""}},{"id":"B","text":{"fr":"","en":"Adjust the opening balance of each affected component of equity.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Recognise the adjustment in other comprehensive income of the period.","es":""},"correct":false,"feedback":{"fr":"","en":"The adjustment concerns opening balances, not the period's comprehensive income.","es":""}},{"id":"D","text":{"fr":"","en":"Adjust only the component with the larger amount.","es":""},"correct":false,"feedback":{"fr":"","en":"All affected components are adjusted.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000119","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000119","tested_point":"QST.IAS8.000119","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"retrospective-rule"},"references":["IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"Laurvorn changes policy in 2025 and presents 2025 and 2024. The new policy would have increased profit before tax by {effect_2022} in 2022 and by {effect_2023} in 2023 (tax effect ignored, case assumption). What adjustment should be made to equity at 1 January 2024?","es":""},"explanation":{"fr":"","en":"Opening equity of the earliest period presented absorbs the effect of earlier periods (IAS 8, para. 22): 12,000 + 18,000 = 30,000.","es":""},"common_error":{"fr":"","en":"Adjusting equity at 1 January 2025.","es":""},"format":"CALCULATION","placeholders":[{"id":"effect_2022","value":"12000","unit":"EUR"},{"id":"effect_2023","value":"18000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Effect of the policy on 2022","es":""},"value":"12000","unit":"EUR"},{"label":{"fr":"","en":"Effect of the policy on 2023","es":""},"value":"18000","unit":"EUR"}],"steps":[{"id":"OPENING_2024_ADJUSTMENT","label":{"fr":"","en":"Adjustment to equity at 1 January 2024","es":""},"answer":30000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"OPENING_2024_ADJUSTMENT","meaning":{"fr":"","en":"Adjustment to equity at 1 January 2024","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Effect of the policy on 2022","es":""},"value":12000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Effect of the policy on 2023","es":""},"value":18000,"unit":"EUR"}],"result":30000,"unit":"EUR","rationale":{"fr":"","en":"Opening equity of the earliest period presented absorbs the effect of earlier periods (IAS 8, para. 22): 12,000 + 18,000 = 30,000.","es":""}}],"references":["REF.IAS8.22"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000120","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000120","tested_point":"QST.IAS8.000120","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"retrospective-rule"},"references":["IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"Lelvade's published 2024 cost of sales amounts to {published_cost_of_sales}. Applied to 2024, the new policy adopted in 2025 would have reduced it by {decrease}. What 2024 cost of sales should be presented as the comparative?","es":""},"explanation":{"fr":"","en":"Comparative amounts are adjusted as if the new policy had always been applied (IAS 8, para. 22): 840,000 − 14,000 = 826,000.","es":""},"common_error":{"fr":"","en":"Presenting the published amount without restatement.","es":""},"format":"CALCULATION","placeholders":[{"id":"published_cost_of_sales","value":"840000","unit":"EUR"},{"id":"decrease","value":"14000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Published 2024 cost of sales","es":""},"value":"840000","unit":"EUR"},{"label":{"fr":"","en":"Decrease due to the new policy","es":""},"value":"14000","unit":"EUR"}],"steps":[{"id":"RESTATED_COST_OF_SALES","label":{"fr":"","en":"Restated 2024 cost of sales","es":""},"answer":826000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"RESTATED_COST_OF_SALES","meaning":{"fr":"","en":"Restated 2024 cost of sales","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Published 2024 cost of sales","es":""},"value":840000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Decrease due to the new policy","es":""},"value":14000,"unit":"EUR"}],"result":826000,"unit":"EUR","rationale":{"fr":"","en":"Comparative amounts are adjusted as if the new policy had always been applied (IAS 8, para. 22): 840,000 − 14,000 = 826,000.","es":""}}],"references":["REF.IAS8.22"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000121","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION","IAS8.SCOPE.GENERAL"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000121","tested_point":"QST.IAS8.000121","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §22","IAS 8 §4"],"exercise":{"prompt":{"fr":"","en":"At 1 January 2024, the opening of the earliest period presented, Stainine's published retained earnings amount to {published_opening_re}. The cumulative pre-tax effect of the new policy on prior years is an increase of {pre_tax_effect}; deferred tax rate of {tax_rate} (case data). Compute restated opening retained earnings.","es":""},"explanation":{"fr":"","en":"The opening adjustment of the earliest period presented (IAS 8, para. 22) is recognised net of its tax effect determined under IAS 12 (IAS 8, para. 4): 2,300,000 + 50,000 − 12,500 = 2,337,500.","es":""},"common_error":{"fr":"","en":"Adding the gross effect without deducting tax.","es":""},"format":"CALCULATION","placeholders":[{"id":"published_opening_re","value":"2300000","unit":"EUR"},{"id":"pre_tax_effect","value":"50000","unit":"EUR"},{"id":"tax_rate","value":"25","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Published opening retained earnings","es":""},"value":"2300000","unit":"EUR"},{"label":{"fr":"","en":"Cumulative pre-tax effect","es":""},"value":"50000","unit":"EUR"},{"label":{"fr":"","en":"Tax rate","es":""},"value":"25","unit":"PERCENT"}],"steps":[{"id":"RESTATED_OPENING_RE","label":{"fr":"","en":"Restated opening retained earnings","es":""},"answer":2337500,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000122","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION","IAS8.SCOPE.GENERAL"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000122","tested_point":"QST.IAS8.000122","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §22","IAS 8 §4"],"exercise":{"prompt":{"fr":"","en":"After restatement, Stomence's retained earnings at 1 January 2024 amount to {restated_opening_re}. Published 2024 profit is {published_profit_2024}; the new policy increases it by {pre_tax_effect_2024} before tax (rate of {tax_rate}, case data). Dividends of {dividends_2024} were paid in 2024. Compute restated 2024 profit and restated retained earnings at 31 December 2024.","es":""},"explanation":{"fr":"","en":"Comparatives are restated as if the policy had always been applied (IAS 8, para. 22), with the tax effect under IAS 12 (IAS 8, para. 4). Restated profit: 410,000 + 14,000 − 3,500 = 420,500. Closing: 2,337,500 + 420,500 − 120,000 = 2,638,000.","es":""},"common_error":{"fr":"","en":"Starting from published retained earnings instead of the restated opening balance.","es":""},"format":"CALCULATION","placeholders":[{"id":"restated_opening_re","value":"2337500","unit":"EUR"},{"id":"published_profit_2024","value":"410000","unit":"EUR"},{"id":"pre_tax_effect_2024","value":"14000","unit":"EUR"},{"id":"tax_rate","value":"25","unit":"PERCENT"},{"id":"dividends_2024","value":"120000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Restated retained earnings at 1 January 2024","es":""},"value":"2337500","unit":"EUR"},{"label":{"fr":"","en":"Published 2024 profit","es":""},"value":"410000","unit":"EUR"},{"label":{"fr":"","en":"2024 pre-tax effect","es":""},"value":"14000","unit":"EUR"},{"label":{"fr":"","en":"Tax rate","es":""},"value":"25","unit":"PERCENT"},{"label":{"fr":"","en":"2024 dividends","es":""},"value":"120000","unit":"EUR"}],"steps":[{"id":"RESTATED_PROFIT_2024","label":{"fr":"","en":"Restated 2024 profit","es":""},"answer":420500,"tolerance":0,"unit":"EUR"},{"id":"RESTATED_CLOSING_RE","label":{"fr":"","en":"Restated retained earnings at 31 December 2024","es":""},"answer":2638000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"RESTATED_CLOSING_RE","meaning":{"fr":"","en":"Restated retained earnings at 31 December 2024","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Restated retained earnings at 1 January 2024","es":""},"value":2337500,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Restated 2024 profit","es":""},"value":420500,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"2024 dividends","es":""},"value":120000,"unit":"EUR"}],"result":2638000,"unit":"EUR"}],"rationale":{"fr":"","en":"Comparatives are restated as if the policy had always been applied (IAS 8, para. 22), with the tax effect under IAS 12 (IAS 8, para. 4).","es":""},"references":["REF.IAS8.22","REF.IAS8.4"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000123","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000123","tested_point":"QST.IAS8.000123","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"retrospective-rule"},"references":["IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"The pre-tax effects of a new policy adopted in 2025 by Flinade would have been a decrease in profit of {effect_2021} in 2021, {effect_2022} in 2022 and {effect_2023} in 2023. Flinade presents 2025 and 2024 (tax effect ignored, case assumption). What decrease should be made to opening equity of the earliest period presented?","es":""},"explanation":{"fr":"","en":"The effects of the years before 2024 go to the opening balance of the earliest period presented, not to 2025 profit (IAS 8, para. 22): 7,000 + 9,000 + 11,000 = 27,000.","es":""},"common_error":{"fr":"","en":"Recognising the cumulative effect as a 2025 expense.","es":""},"format":"CALCULATION","placeholders":[{"id":"effect_2021","value":"7000","unit":"EUR"},{"id":"effect_2022","value":"9000","unit":"EUR"},{"id":"effect_2023","value":"11000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"2021 decrease","es":""},"value":"7000","unit":"EUR"},{"label":{"fr":"","en":"2022 decrease","es":""},"value":"9000","unit":"EUR"},{"label":{"fr":"","en":"2023 decrease","es":""},"value":"11000","unit":"EUR"}],"steps":[{"id":"OPENING_ADJUSTMENT","label":{"fr":"","en":"Decrease in equity at 1 January 2024","es":""},"answer":27000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"OPENING_ADJUSTMENT","meaning":{"fr":"","en":"Decrease in equity at 1 January 2024","es":""},"expression":"a + b + c","variables":[{"symbol":"a","meaning":{"fr":"","en":"2021 decrease","es":""},"value":7000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"2022 decrease","es":""},"value":9000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"2023 decrease","es":""},"value":11000,"unit":"EUR"}],"result":27000,"unit":"EUR","rationale":{"fr":"","en":"The effects of the years before 2024 go to the opening balance of the earliest period presented, not to 2025 profit (IAS 8, para. 22): 7,000 + 9,000 + 11,000 = 27,000.","es":""}}],"references":["REF.IAS8.22"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000124","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"CALCULATION","context":"V1_VG.IAS8.000005","tested_point":"VG.IAS8.000005","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"retrospective-rule"},"references":["IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"Taimenne presents 2025 and 2024. Its inventories are worth, under the old and the new policy: {old_opening} and {new_opening} at 1 January 2024; {old_closing} and {new_closing} at 31 December 2024 (tax effect ignored, case assumption). Compute the adjustment to opening equity and the increase in restated 2024 profit.","es":""},"explanation":{"fr":"","en":"As if the policy had always been applied (IAS 8, para. 22): opening 326,000 − 300,000 = 26,000; closing difference 31,000; effect on 2024 profit = 31,000 − 26,000 = 5,000.","es":""},"common_error":{"fr":"","en":"Using the closing difference as the effect on 2024 profit.","es":""},"format":"CALCULATION","placeholders":[{"id":"old_opening","value":"300000","unit":"EUR"},{"id":"new_opening","value":"326000","unit":"EUR"},{"id":"old_closing","value":"340000","unit":"EUR"},{"id":"new_closing","value":"371000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Inventories at 1 January 2024 (old policy)","es":""},"value":"300000","unit":"EUR"},{"label":{"fr":"","en":"Inventories at 1 January 2024 (new policy)","es":""},"value":"326000","unit":"EUR"},{"label":{"fr":"","en":"Inventories at 31 December 2024 (old policy)","es":""},"value":"340000","unit":"EUR"},{"label":{"fr":"","en":"Inventories at 31 December 2024 (new policy)","es":""},"value":"371000","unit":"EUR"}],"steps":[{"id":"OPENING_ADJUSTMENT","label":{"fr":"","en":"Adjustment to opening equity","es":""},"answer":26000,"tolerance":0,"unit":"EUR"},{"id":"PROFIT_2024_INCREASE","label":{"fr":"","en":"Increase in 2024 profit","es":""},"answer":5000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"OPENING_ADJUSTMENT","meaning":{"fr":"","en":"Adjustment to opening equity","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Inventories at 1 January 2024 (new policy)","es":""},"value":326000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Inventories at 1 January 2024 (old policy)","es":""},"value":300000,"unit":"EUR"}],"result":26000,"unit":"EUR","rationale":{"fr":"","en":"As if the policy had always been applied (IAS 8, para. 22): opening 326,000 − 300,000 = 26,000","es":""}}],"references":["REF.IAS8.22"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000125","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"CALCULATION","context":"V1_VG.IAS8.000005","tested_point":"VG.IAS8.000005","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"retrospective-rule"},"references":["IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"Kymorn's new policy increases a provision. Provision amounts under the old and new policy: {old_opening} and {new_opening} at 1 January 2024, {old_closing} and {new_closing} at 31 December 2024. Kymorn presents 2025 and 2024 (tax effect ignored). What decreases should be used for opening equity and for 2024 profit?","es":""},"explanation":{"fr":"","en":"A higher liability reduces equity. Opening of the earliest period presented (IAS 8, para. 22): 112,000 − 90,000 = 22,000. Profit for 2024: (124,000 − 95,000) − 22,000 = 7,000.","es":""},"common_error":{"fr":"","en":"Confusing the increase in the liability at year-end with the year's expense.","es":""},"format":"CALCULATION","placeholders":[{"id":"old_opening","value":"90000","unit":"EUR"},{"id":"new_opening","value":"112000","unit":"EUR"},{"id":"old_closing","value":"95000","unit":"EUR"},{"id":"new_closing","value":"124000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Provision at 1 January 2024 (old policy)","es":""},"value":"90000","unit":"EUR"},{"label":{"fr":"","en":"Provision at 1 January 2024 (new policy)","es":""},"value":"112000","unit":"EUR"},{"label":{"fr":"","en":"Provision at 31 December 2024 (old policy)","es":""},"value":"95000","unit":"EUR"},{"label":{"fr":"","en":"Provision at 31 December 2024 (new policy)","es":""},"value":"124000","unit":"EUR"}],"steps":[{"id":"OPENING_DECREASE","label":{"fr":"","en":"Decrease in opening equity","es":""},"answer":22000,"tolerance":0,"unit":"EUR"},{"id":"PROFIT_2024_DECREASE","label":{"fr":"","en":"Decrease in 2024 profit","es":""},"answer":7000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"OPENING_DECREASE","meaning":{"fr":"","en":"Decrease in opening equity","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Provision at 1 January 2024 (new policy)","es":""},"value":112000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Provision at 1 January 2024 (old policy)","es":""},"value":90000,"unit":"EUR"}],"result":22000,"unit":"EUR"},{"step":"PROFIT_2024_DECREASE","meaning":{"fr":"","en":"Decrease in 2024 profit","es":""},"expression":"(a - b) - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Provision at 31 December 2024 (new policy)","es":""},"value":124000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Provision at 31 December 2024 (old policy)","es":""},"value":95000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Decrease in opening equity","es":""},"value":22000,"unit":"EUR"}],"result":7000,"unit":"EUR"}],"rationale":{"fr":"","en":"Opening of the earliest period presented (IAS 8, para. 22): 112,000 − 90,000 = 22,000.","es":""},"references":["REF.IAS8.22"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000126","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION","IAS8.SCOPE.GENERAL"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000126","tested_point":"QST.IAS8.000126","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §22","IAS 8 §4"],"exercise":{"prompt":{"fr":"","en":"Paulouël's restatement table (comparative year 2024, published amounts): inventories at 31 December {published_inventory}, retained earnings at 31 December {published_re}, profit {published_profit}. The new policy increases inventories by {opening_difference} at 1 January 2024 and by {closing_difference} at 31 December 2024; deferred tax rate {tax_rate} (case data). Compute the three restated amounts.","es":""},"explanation":{"fr":"","en":"Comparatives restated as if the policy had always been applied (IAS 8, para. 22), tax effects under IAS 12 (IAS 8, para. 4). Inventories: 500,000 + 55,000 = 555,000. Profit: 260,000 + (55,000 − 40,000) × (1 − 25%) = 271,250. Retained earnings: 1,800,000 + 55,000 × (1 − 25%) = 1,841,250.","es":""},"common_error":{"fr":"","en":"Adding the whole closing difference to 2024 profit.","es":""},"format":"CALCULATION","placeholders":[{"id":"published_inventory","value":"500000","unit":"EUR"},{"id":"published_re","value":"1800000","unit":"EUR"},{"id":"published_profit","value":"260000","unit":"EUR"},{"id":"opening_difference","value":"40000","unit":"EUR"},{"id":"closing_difference","value":"55000","unit":"EUR"},{"id":"tax_rate","value":"25","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Published inventories","es":""},"value":"500000","unit":"EUR"},{"label":{"fr":"","en":"Published retained earnings","es":""},"value":"1800000","unit":"EUR"},{"label":{"fr":"","en":"Published 2024 profit","es":""},"value":"260000","unit":"EUR"},{"label":{"fr":"","en":"Opening difference","es":""},"value":"40000","unit":"EUR"},{"label":{"fr":"","en":"Closing difference","es":""},"value":"55000","unit":"EUR"},{"label":{"fr":"","en":"Tax rate","es":""},"value":"25","unit":"PERCENT"}],"steps":[{"id":"RESTATED_INVENTORY","label":{"fr":"","en":"Restated inventories","es":""},"answer":555000,"tolerance":0,"unit":"EUR"},{"id":"RESTATED_PROFIT","label":{"fr":"","en":"Restated 2024 profit","es":""},"answer":271250,"tolerance":0,"unit":"EUR"},{"id":"RESTATED_RE","label":{"fr":"","en":"Restated retained earnings","es":""},"answer":1841250,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"RESTATED_INVENTORY","meaning":{"fr":"","en":"Restated inventories","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Published inventories","es":""},"value":500000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Closing difference","es":""},"value":55000,"unit":"EUR"}],"result":555000,"unit":"EUR"},{"step":"RESTATED_PROFIT","meaning":{"fr":"","en":"Restated 2024 profit","es":""},"expression":"a + (b - c) * (1 - d)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Published 2024 profit","es":""},"value":260000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Closing difference","es":""},"value":55000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Opening difference","es":""},"value":40000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Tax rate","es":""},"value":25,"unit":"PERCENT"}],"result":271250,"unit":"EUR"},{"step":"RESTATED_RE","meaning":{"fr":"","en":"Restated retained earnings","es":""},"expression":"a + b * (1 - c)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Published retained earnings","es":""},"value":1800000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Closing difference","es":""},"value":55000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Tax rate","es":""},"value":25,"unit":"PERCENT"}],"result":1841250,"unit":"EUR"}],"rationale":{"fr":"","en":"Comparatives restated as if the policy had always been applied (IAS 8, para. 22), tax effects under IAS 12 (IAS 8, para. 4).","es":""},"references":["REF.IAS8.22","REF.IAS8.4"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000127","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000127","tested_point":"QST.IAS8.000127","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"retrospective-rule"},"references":["IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"For Neulbax (presenting 2025 and 2024), the new policy would have increased equity by {effect_before_2024} for years before 2024 and 2024 profit by {effect_2024} (tax effect ignored). Compute the adjustment to equity at 1 January 2024 and the total equity difference at 1 January 2025 between the two policies.","es":""},"explanation":{"fr":"","en":"The opening adjustment concerns the earliest period presented (IAS 8, para. 22): 45,000. The 2024 effect goes through restated comparative profit; at 1 January 2025 the cumulative difference is 45,000 + 9,000 = 54,000.","es":""},"common_error":{"fr":"","en":"Including the 2024 effect in the opening adjustment at 1 January 2024.","es":""},"format":"CALCULATION","placeholders":[{"id":"effect_before_2024","value":"45000","unit":"EUR"},{"id":"effect_2024","value":"9000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Effect of years before 2024","es":""},"value":"45000","unit":"EUR"},{"label":{"fr":"","en":"Effect on 2024","es":""},"value":"9000","unit":"EUR"}],"steps":[{"id":"ADJUSTMENT_1_JAN_2024","label":{"fr":"","en":"Adjustment at 1 January 2024","es":""},"answer":45000,"tolerance":0,"unit":"EUR"},{"id":"EQUITY_DIFFERENCE_1_JAN_2025","label":{"fr":"","en":"Equity difference at 1 January 2025","es":""},"answer":54000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"EQUITY_DIFFERENCE_1_JAN_2025","meaning":{"fr":"","en":"Equity difference at 1 January 2025","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Effect of years before 2024","es":""},"value":45000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Effect on 2024","es":""},"value":9000,"unit":"EUR"}],"result":54000,"unit":"EUR"}],"rationale":{"fr":"","en":"The opening adjustment concerns the earliest period presented (IAS 8, para. 22): 45,000.","es":""},"references":["REF.IAS8.22"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000128","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION","IAS8.SCOPE.GENERAL"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000128","tested_point":"QST.IAS8.000128","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §22","IAS 8 §4"],"exercise":{"prompt":{"fr":"","en":"Jeulbence's published deferred tax liability at 31 December 2024 is {published_dtl}. The new policy, applied retrospectively, increases inventories at that date by {inventory_increase}, without changing their tax base; rate of {tax_rate} (case data). What deferred tax liability should be presented as the comparative?","es":""},"explanation":{"fr":"","en":"The comparative is restated as if the policy had always been applied (IAS 8, para. 22), including its tax effect under IAS 12 (IAS 8, para. 4): 80,000 + 60,000 × 25% = 95,000.","es":""},"common_error":{"fr":"","en":"Leaving the deferred tax liability at its published amount.","es":""},"format":"CALCULATION","placeholders":[{"id":"published_dtl","value":"80000","unit":"EUR"},{"id":"inventory_increase","value":"60000","unit":"EUR"},{"id":"tax_rate","value":"25","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Published deferred tax liability","es":""},"value":"80000","unit":"EUR"},{"label":{"fr":"","en":"Increase in inventories","es":""},"value":"60000","unit":"EUR"},{"label":{"fr":"","en":"Tax rate","es":""},"value":"25","unit":"PERCENT"}],"steps":[{"id":"RESTATED_DTL","label":{"fr":"","en":"Restated deferred tax liability","es":""},"answer":95000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"RESTATED_DTL","meaning":{"fr":"","en":"Restated deferred tax liability","es":""},"expression":"a + b * c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Published deferred tax liability","es":""},"value":80000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Increase in inventories","es":""},"value":60000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Tax rate","es":""},"value":25,"unit":"PERCENT"}],"result":95000,"unit":"EUR","rationale":{"fr":"","en":"The comparative is restated as if the policy had always been applied (IAS 8, para. 22), including its tax effect under IAS 12 (IAS 8, para. 4): 80,000 + 60,000 × 25% = 95,000.","es":""}}],"references":["REF.IAS8.22","REF.IAS8.4"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000129","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000129","tested_point":"QST.IAS8.000129","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"retrospective-rule"},"references":["IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"Pyrgouël voluntarily changes a policy in 2025; the cumulative effect on prior years is a gain of 70,000. The accountant records it in 2025 profit as 'exceptional income'. What is the error?","es":""},"explanation":{"fr":"","en":"A voluntary change is applied retrospectively: opening equity of the earliest period presented and comparatives are adjusted (IAS 8, para. 22), not the profit of the year of change.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The cumulative effect must adjust opening equity and comparatives, not 2025 profit.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"There is no error if the income is presented separately.","es":""},"correct":false,"feedback":{"fr":"","en":"Separate presentation does not cure the lack of retrospective treatment.","es":""}},{"id":"C","text":{"fr":"","en":"The cumulative effect must never be recognised.","es":""},"correct":false,"feedback":{"fr":"","en":"The effect is recognised, but in opening balances and comparatives.","es":""}},{"id":"D","text":{"fr":"","en":"The cumulative effect should have been recognised in 2025 other comprehensive income, presented separately from other income.","es":""},"correct":false,"feedback":{"fr":"","en":"The period's comprehensive income is not the right place.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000130","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000130","tested_point":"QST.IAS8.000130","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"retrospective-rule"},"references":["IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"Rirenne applies a new policy retrospectively: it adjusts equity at 1 January 2024 but presents the 2024 income statement as originally published. What is the error?","es":""},"explanation":{"fr":"","en":"Retrospective application adjusts the opening equity of the earliest period presented and the other comparative amounts for each period presented (IAS 8, para. 22).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Closing equity of 2025 should have been adjusted.","es":""},"correct":false,"feedback":{"fr":"","en":"Closing 2025 is not the relevant date.","es":""}},{"id":"B","text":{"fr":"","en":"The adjustment should have been made at 1 January 2025, the opening of the year of change.","es":""},"correct":false,"feedback":{"fr":"","en":"The adjustment date used is right; the comparative is what is missing.","es":""}},{"id":"C","text":{"fr":"","en":"The other comparative amounts, including 2024 profit, must also be restated.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The 2024 income statement must never be changed once published.","es":""},"correct":false,"feedback":{"fr":"","en":"Comparatives are precisely what is restated under retrospective application.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000131","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000131","tested_point":"QST.IAS8.000131","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"retrospective-rule"},"references":["IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"Sailard, which presents 2025 and 2024, changes policy in 2025. It charges the effect of years before 2025 to equity at 1 January 2025 and leaves the 2024 balance sheet and profit unchanged. What is the error?","es":""},"explanation":{"fr":"","en":"The adjustment is made to the opening balance of the earliest prior period presented, and comparative amounts are restated (IAS 8, para. 22).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The adjustment should have been recognised in 2025 profit, on a separate line of the income statement.","es":""},"correct":false,"feedback":{"fr":"","en":"The cumulative effect is not recognised in profit.","es":""}},{"id":"B","text":{"fr":"","en":"None: the opening of the current year is enough when two years are presented.","es":""},"correct":false,"feedback":{"fr":"","en":"The earliest period presented is 2024, not 2025.","es":""}},{"id":"C","text":{"fr":"","en":"The adjustment should have been made at 31 December 2024 without restating 2024 profit.","es":""},"correct":false,"feedback":{"fr":"","en":"Comparative 2024 profit must also be restated.","es":""}},{"id":"D","text":{"fr":"","en":"The opening adjustment must be made at 1 January 2024 and 2024 must be restated.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000132","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000132","tested_point":"QST.IAS8.000132","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"retrospective-rule"},"references":["IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"In Stescade's restatement table, the new policy changes 2024 closing inventories, but the 2024 cost of sales presented as comparative is the published one. What inconsistency do you note?","es":""},"explanation":{"fr":"","en":"The other comparative amounts for each period presented are adjusted as if the policy had always been applied (IAS 8, para. 22): 2024 cost of sales must reflect the change in the inventory difference.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The difference should have been charged to 2025 equity.","es":""},"correct":false,"feedback":{"fr":"","en":"The difference concerns the comparative period and must be restated as such.","es":""}},{"id":"B","text":{"fr":"","en":"2024 closing inventories should have stayed at their published amount.","es":""},"correct":false,"feedback":{"fr":"","en":"Comparative inventories must indeed be restated.","es":""}},{"id":"C","text":{"fr":"","en":"Cost of sales can never be restated, only the balance sheet being restated under retrospective application.","es":""},"correct":false,"feedback":{"fr":"","en":"The comparative income statement is also restated.","es":""}},{"id":"D","text":{"fr":"","en":"The income statement comparative is not restated, whereas the balance sheet comparative is.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000139","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000139","tested_point":"QST.IAS8.000139","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"retrospective-rule"},"references":["IAS 8 §22","IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"Zeumard, which presents 2025 and 2024, voluntarily adopts a new policy in 2025. Its controller proposes three treatments. Which should be used?","es":""},"explanation":{"fr":"","en":"Retrospective application means applying the new policy as if it had always been applied (IAS 8, para. 5): opening equity of the earliest period presented and comparatives are adjusted (IAS 8, para. 22).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Recognise the cumulative effect in 2025 profit with a note.","es":""},"correct":false,"feedback":{"fr":"","en":"The cumulative effect is not recognised in profit.","es":""}},{"id":"B","text":{"fr":"","en":"Restate 2024 and adjust equity at 1 January 2024, as if the policy had always been applied.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Restate 2024 without adjusting opening equity, the effect of years before 2024 being considered too old to be useful.","es":""},"correct":false,"feedback":{"fr":"","en":"The opening of the earliest period presented must also be adjusted.","es":""}},{"id":"D","text":{"fr":"","en":"Apply the policy from 1 January 2025 without touching 2024.","es":""},"correct":false,"feedback":{"fr":"","en":"This is prospective application, reserved for other situations.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000140","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000140","tested_point":"QST.IAS8.000140","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"retrospective-rule"},"references":["IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"The Vraiscot group presents a five-year historical summary in addition to the two years of its financial statements. It voluntarily changes policy in 2025. For the financial statements themselves, what is the minimum IAS 8 requirement?","es":""},"explanation":{"fr":"","en":"Retrospective application adjusts opening equity of the earliest prior period presented and the other comparative amounts (IAS 8, para. 22); in Vraiscot's financial statements, that is 2024.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Adjust equity at 1 January 2025 only.","es":""},"correct":false,"feedback":{"fr":"","en":"The adjustment is made at the opening of the earliest period presented.","es":""}},{"id":"B","text":{"fr":"","en":"Restate only 2025, since 2024 has already been approved by the shareholders' meeting.","es":""},"correct":false,"feedback":{"fr":"","en":"Past approval does not prevent restating the comparative.","es":""}},{"id":"C","text":{"fr":"","en":"Restate the 2024 comparative and adjust equity at 1 January 2024.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Restate the five years of the historical summary and leave the financial statements untouched.","es":""},"correct":false,"feedback":{"fr":"","en":"The financial statements must be restated first.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000141","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000141","tested_point":"QST.IAS8.000141","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000008","section_id":"retrospective-rule"},"references":["IAS 8 §22"],"exercise":{"prompt":{"fr":"","en":"Brylbal is hesitant to apply its new policy retrospectively: the finance director prefers to 'show the catch-up in 2025 profit so investors see it'. Retrospective application is practicable (case data). What should he be told?","es":""},"explanation":{"fr":"","en":"A voluntary change is applied as if the policy had always been applied: opening equity of the earliest period presented and comparatives are adjusted (IAS 8, para. 22), with no catch-up in the period's profit.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Retrospective application is required; the effect goes through opening equity and comparatives.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Catching up in profit is acceptable if presented on a separate line and explained.","es":""},"correct":false,"feedback":{"fr":"","en":"Separate presentation does not replace restatement.","es":""}},{"id":"C","text":{"fr":"","en":"The choice between the two treatments is free, subject to a note.","es":""},"correct":false,"feedback":{"fr":"","en":"IAS 8 does not leave this choice.","es":""}},{"id":"D","text":{"fr":"","en":"Catching up in profit is mandatory whenever the effect is material.","es":""},"correct":false,"feedback":{"fr":"","en":"Materiality does not change the treatment.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000142","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.RETROSPECTIVE_APPLICATION","IAS8.SCOPE.GENERAL"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000142","tested_point":"QST.IAS8.000142","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §22","IAS 8 §4"],"exercise":{"prompt":{"fr":"","en":"The Quodac group applies a new policy retrospectively that increases assets whose tax base does not change (case data). The draft restatement table adjusts the asset line items and retained earnings, but neither deferred tax nor comparative profit. How should it be assessed?","es":""},"explanation":{"fr":"","en":"Retrospective application adjusts opening equity and the other comparative amounts (IAS 8, para. 22), and the tax effects of retrospective adjustments are accounted for under IAS 12 (IAS 8, para. 4).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The table is incomplete: deferred tax and comparative profit must also be restated.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The table is complete if the tax effect is presented in the 2025 tax expense.","es":""},"correct":false,"feedback":{"fr":"","en":"The tax effect of the restatement is not placed in the current year's tax expense.","es":""}},{"id":"C","text":{"fr":"","en":"The table should only adjust comparative profit, neither asset line items nor equity.","es":""},"correct":false,"feedback":{"fr":"","en":"Asset line items and opening equity are also adjusted.","es":""}},{"id":"D","text":{"fr":"","en":"The table is complete: deferred tax concerns only the current year.","es":""},"correct":false,"feedback":{"fr":"","en":"The tax effect of the restatement follows IAS 12 and the restatement itself.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000143","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.LIMITATIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000143","tested_point":"QST.IAS8.000143","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000009","section_id":"principle"},"references":["IAS 8 §24"],"exercise":{"prompt":{"fr":"","en":"Notine cannot determine the period-specific effects of a change in policy for the comparative period. What does IAS 8 require?","es":""},"explanation":{"fr":"","en":"If it is impracticable to determine the period-specific effects for one or more prior periods presented, the entity applies the new policy to carrying amounts at the beginning of the earliest period for which retrospective application is practicable, which may be the current period, and adjusts opening equity of that period (IAS 8, para. 24).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Apply the new policy retrospectively, estimating the amounts with information available today.","es":""},"correct":false,"feedback":{"fr":"","en":"Using today's information with hindsight is ruled out.","es":""}},{"id":"B","text":{"fr":"","en":"Recognise the estimated effect of the change in current period profit.","es":""},"correct":false,"feedback":{"fr":"","en":"The effect is not recognised in the period's profit.","es":""}},{"id":"C","text":{"fr":"","en":"Give up the change in policy until the data become available.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard organises the change despite impracticability.","es":""}},{"id":"D","text":{"fr":"","en":"Apply the new policy to carrying amounts at the beginning of the earliest period for which this is practicable, and adjust opening equity of that period.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000144","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.LIMITATIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000144","tested_point":"QST.IAS8.000144","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000009","section_id":"principle"},"references":["IAS 8 §25"],"exercise":{"prompt":{"fr":"","en":"At the beginning of the current period, Dresac cannot determine the cumulative effect of its new policy on all prior periods. What does it do?","es":""},"explanation":{"fr":"","en":"If it is impracticable to determine, at the beginning of the current period, the cumulative effect on all prior periods, the entity adjusts comparative information to apply the new policy prospectively from the earliest date practicable (IAS 8, para. 25).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It stops presenting comparatives for the year of change.","es":""},"correct":false,"feedback":{"fr":"","en":"Comparatives are still presented and adjusted.","es":""}},{"id":"B","text":{"fr":"","en":"It estimates the cumulative effect from results known today and charges it to equity.","es":""},"correct":false,"feedback":{"fr":"","en":"Hindsight and a free estimate of the cumulative effect are not provided for.","es":""}},{"id":"C","text":{"fr":"","en":"It adjusts comparative information to apply the new policy prospectively from the earliest date practicable.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"It keeps the old policy, since the cumulative effect cannot be measured.","es":""},"correct":false,"feedback":{"fr":"","en":"The change is not abandoned as a result.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000145","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.LIMITATIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000145","tested_point":"QST.IAS8.000145","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000009","section_id":"principle"},"references":["IAS 8 §23"],"exercise":{"prompt":{"fr":"","en":"When retrospective application of a new policy is required, to what extent may the entity depart from it?","es":""},"explanation":{"fr":"","en":"When retrospective application is required, the change is applied retrospectively except to the extent that it is impracticable to determine the period-specific effects or the cumulative effect (IAS 8, para. 23).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"When the comparatives have already been approved by the shareholders.","es":""},"correct":false,"feedback":{"fr":"","en":"Past approval does not prevent restatement.","es":""}},{"id":"B","text":{"fr":"","en":"Only to the extent that it is impracticable to determine the period-specific effects or the cumulative effect.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"As soon as retrospective application is costly or time-consuming.","es":""},"correct":false,"feedback":{"fr":"","en":"Cost or time is not enough.","es":""}},{"id":"D","text":{"fr":"","en":"When the change reduces the profit of prior years.","es":""},"correct":false,"feedback":{"fr":"","en":"An unfavourable effect is not a reason.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000146","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.LIMITATIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000146","tested_point":"QST.IAS8.000146","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000009","section_id":"principle"},"references":["IAS 8 §53"],"exercise":{"prompt":{"fr":"","en":"When applying a new policy to 2024, Nyrède could use a price index published in 2025 showing how a market actually moved. Is this allowed?","es":""},"explanation":{"fr":"","en":"When a new policy is applied to a prior period, hindsight is not used, either in making assumptions about management's intentions at the time or in estimating the amounts (IAS 8, para. 53).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Yes, if the index is published before the 2025 accounts are authorised for issue.","es":""},"correct":false,"feedback":{"fr":"","en":"The publication date of the 2025 accounts is not the test.","es":""}},{"id":"B","text":{"fr":"","en":"Yes, provided it is disclosed in the notes.","es":""},"correct":false,"feedback":{"fr":"","en":"A disclosure does not make hindsight acceptable.","es":""}},{"id":"C","text":{"fr":"","en":"No: using later information with hindsight is ruled out when estimating amounts of a prior period.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Yes: the most recent information is always the most reliable.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard rules out precisely this use of hindsight.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000147","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.LIMITATIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000147","tested_point":"QST.IAS8.000147","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000009","section_id":"principle"},"references":["IAS 8 §23","IAS 8 §24","IAS 8 §25"],"exercise":{"prompt":{"fr":"","en":"Which statements about the limits of retrospective application are correct?","es":""},"explanation":{"fr":"","en":"The change is retrospective unless impracticable (IAS 8, para. 23); if impracticable for some periods, the opening balance of the earliest practicable period is adjusted, which may be the current period (IAS 8, para. 24); if the cumulative effect cannot be determined, prospective application from the earliest date practicable (IAS 8, para. 25).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"An entity may choose prospective application whenever it finds it simpler.","es":""},"correct":false,"feedback":{"fr":"","en":"Simplicity is not a reason.","es":""}},{"id":"B","text":{"fr":"","en":"Impracticability allows the cumulative effect to be recognised in the period's profit.","es":""},"correct":false,"feedback":{"fr":"","en":"The effect is never recognised in the period's profit on this account.","es":""}},{"id":"C","text":{"fr":"","en":"The earliest period for which retrospective application is practicable may be the current period.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"If the cumulative effect cannot be determined at the beginning of the current period, the policy is applied prospectively from the earliest date practicable.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Retrospective application remains the rule, except to the extent it is impracticable.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000148","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.LIMITATIONS","IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000148","tested_point":"QST.IAS8.000148","difficulty":"EXPERT","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":140,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000009","section_id":"principle"},"references":["IAS 8 §23","IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"Of the arguments put forward by Fosia for not applying its new policy retrospectively, which can support impracticability?","es":""},"explanation":{"fr":"","en":"Retrospective application is set aside only to the extent it is impracticable (IAS 8, para. 23), that is impossible after every reasonable effort, in particular when the effects cannot be determined or assumptions about management's past intent would be needed (IAS 8, para. 5).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The data for the years concerned were never collected and cannot be rebuilt despite every reasonable effort.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The auditor prefers prospective application.","es":""},"correct":false,"feedback":{"fr":"","en":"The auditor's preference is not a criterion.","es":""}},{"id":"C","text":{"fr":"","en":"The restatement would reduce reported comparative profit.","es":""},"correct":false,"feedback":{"fr":"","en":"An unfavourable effect is not a criterion.","es":""}},{"id":"D","text":{"fr":"","en":"The restatement would require reconstructing what management's intent was at the time, which is documented nowhere.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The restatement would tie up the accounting team for several weeks.","es":""},"correct":false,"feedback":{"fr":"","en":"Workload is not enough.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000149","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.LIMITATIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000149","tested_point":"QST.IAS8.000149","difficulty":"EXPERT","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":140,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000009","section_id":"principle"},"references":["IAS 8 §53"],"exercise":{"prompt":{"fr":"","en":"To estimate in 2025 an amount relating to 2023 as part of retrospective application, which information may Sylbix use?","es":""},"explanation":{"fr":"","en":"Hindsight is not used, whether for assumptions about management's intentions at the time or for estimating the amounts recognised, measured or disclosed (IAS 8, para. 53).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The assumptions in the budgets approved in 2023.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Default statistics published before the 2023 accounts were authorised.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Management's intentions as it rephrases them today.","es":""},"correct":false,"feedback":{"fr":"","en":"Rephrasing past intentions today is hindsight.","es":""}},{"id":"D","text":{"fr":"","en":"The selling price actually obtained in 2025 on the assets concerned.","es":""},"correct":false,"feedback":{"fr":"","en":"A 2025 price is hindsight.","es":""}},{"id":"E","text":{"fr":"","en":"Market conditions observable at the relevant 2023 date.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000150","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.LIMITATIONS"],"dimension":"CALCULATION","context":"V1_VG.IAS8.000007","tested_point":"VG.IAS8.000007","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000009","section_id":"principle"},"references":["IAS 8 §24"],"exercise":{"prompt":{"fr":"","en":"After every reasonable effort, Grytore cannot determine any effect of its new policy for the comparative period; the earliest practicable period is the current period, which began on 1 January 2025. At that date, the assets concerned are worth {new_policy_amount} under the new policy and {old_policy_amount} under the old one (tax effect ignored). What adjustment should be made to 2025 opening equity?","es":""},"explanation":{"fr":"","en":"The new policy is applied to carrying amounts at the beginning of the earliest practicable period, here the current period, with a corresponding adjustment to opening equity of that period (IAS 8, para. 24): 412,000 − 380,000 = 32,000.","es":""},"common_error":{"fr":"","en":"Restating the 2024 comparative anyway with amounts estimated today.","es":""},"format":"CALCULATION","placeholders":[{"id":"new_policy_amount","value":"412000","unit":"EUR"},{"id":"old_policy_amount","value":"380000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Carrying amount under the new policy","es":""},"value":"412000","unit":"EUR"},{"label":{"fr":"","en":"Carrying amount under the old policy","es":""},"value":"380000","unit":"EUR"}],"steps":[{"id":"OPENING_ADJUSTMENT","label":{"fr":"","en":"Adjustment to 2025 opening equity","es":""},"answer":32000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"OPENING_ADJUSTMENT","meaning":{"fr":"","en":"Adjustment to 2025 opening equity","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Carrying amount under the new policy","es":""},"value":412000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Carrying amount under the old policy","es":""},"value":380000,"unit":"EUR"}],"result":32000,"unit":"EUR","rationale":{"fr":"","en":"The new policy is applied to carrying amounts at the beginning of the earliest practicable period, here the current period, with a corresponding adjustment to opening equity of that period (IAS 8, para. 24): 412,000 − 380,000 = 32,000.","es":""}}],"references":["REF.IAS8.24"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000151","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.LIMITATIONS"],"dimension":"CALCULATION","context":"V1_VG.IAS8.000007","tested_point":"VG.IAS8.000007","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000009","section_id":"principle"},"references":["IAS 8 §24"],"exercise":{"prompt":{"fr":"","en":"Puscouël's 2023 records were destroyed and cannot be rebuilt; the earliest practicable period is 2024, the earliest period presented. Carrying amounts of inventories, new and old policy: {new_1_jan_2024} and {old_1_jan_2024} at 1 January 2024; {new_31_dec_2024} and {old_31_dec_2024} at 31 December 2024 (tax effect ignored). Compute the 2024 opening adjustment and the effect on 2024 profit.","es":""},"explanation":{"fr":"","en":"The policy is applied to carrying amounts at the beginning of the earliest practicable period, 2024, with an adjustment to its opening equity (IAS 8, para. 24): 215,000 − 198,000 = 17,000. Effect on 2024: (236,000 − 214,000) − 17,000 = 5,000.","es":""},"format":"CALCULATION","placeholders":[{"id":"new_1_jan_2024","value":"215000","unit":"EUR"},{"id":"old_1_jan_2024","value":"198000","unit":"EUR"},{"id":"new_31_dec_2024","value":"236000","unit":"EUR"},{"id":"old_31_dec_2024","value":"214000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"New policy, 1 January 2024","es":""},"value":"215000","unit":"EUR"},{"label":{"fr":"","en":"Old policy, 1 January 2024","es":""},"value":"198000","unit":"EUR"},{"label":{"fr":"","en":"New policy, 31 December 2024","es":""},"value":"236000","unit":"EUR"},{"label":{"fr":"","en":"Old policy, 31 December 2024","es":""},"value":"214000","unit":"EUR"}],"steps":[{"id":"OPENING_2024_ADJUSTMENT","label":{"fr":"","en":"2024 opening adjustment","es":""},"answer":17000,"tolerance":0,"unit":"EUR"},{"id":"PROFIT_2024_EFFECT","label":{"fr":"","en":"Effect on 2024 profit","es":""},"answer":5000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"OPENING_2024_ADJUSTMENT","meaning":{"fr":"","en":"2024 opening adjustment","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"New policy, 1 January 2024","es":""},"value":215000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Old policy, 1 January 2024","es":""},"value":198000,"unit":"EUR"}],"result":17000,"unit":"EUR","rationale":{"fr":"","en":"The policy is applied to carrying amounts at the beginning of the earliest practicable period, 2024, with an adjustment to its opening equity (IAS 8, para. 24): 215,000 − 198,000 = 17,000.","es":""}},{"step":"PROFIT_2024_EFFECT","meaning":{"fr":"","en":"Effect on 2024 profit","es":""},"expression":"(a - b) - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"New policy, 31 December 2024","es":""},"value":236000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Old policy, 31 December 2024","es":""},"value":214000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"2024 opening adjustment","es":""},"value":17000,"unit":"EUR"}],"result":5000,"unit":"EUR"}],"references":["REF.IAS8.24"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000152","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.LIMITATIONS","IAS8.SCOPE.GENERAL"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000152","tested_point":"QST.IAS8.000152","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §24","IAS 8 §4"],"exercise":{"prompt":{"fr":"","en":"For Kirvore, the earliest practicable period is the current period. At the beginning of that period, the new policy increases carrying amounts by {pre_tax_adjustment}, without changing tax bases; rate of {tax_rate} (case data). Compute the net adjustment to opening equity.","es":""},"explanation":{"fr":"","en":"The adjustment goes to opening equity of the earliest practicable period (IAS 8, para. 24), net of its tax effect determined under IAS 12 (IAS 8, para. 4): 60,000 − 60,000 × 25% = 45,000.","es":""},"common_error":{"fr":"","en":"Recording the gross adjustment without the tax effect.","es":""},"format":"CALCULATION","placeholders":[{"id":"pre_tax_adjustment","value":"60000","unit":"EUR"},{"id":"tax_rate","value":"25","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Pre-tax adjustment","es":""},"value":"60000","unit":"EUR"},{"label":{"fr":"","en":"Tax rate","es":""},"value":"25","unit":"PERCENT"}],"steps":[{"id":"NET_OPENING_ADJUSTMENT","label":{"fr":"","en":"Net adjustment to opening equity","es":""},"answer":45000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"NET_OPENING_ADJUSTMENT","meaning":{"fr":"","en":"Net adjustment to opening equity","es":""},"expression":"a - a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Pre-tax adjustment","es":""},"value":60000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Tax rate","es":""},"value":25,"unit":"PERCENT"}],"result":45000,"unit":"EUR","rationale":{"fr":"","en":"The adjustment goes to opening equity of the earliest practicable period (IAS 8, para. 24), net of its tax effect determined under IAS 12 (IAS 8, para. 4): 60,000 − 60,000 × 25% = 45,000.","es":""}}],"references":["REF.IAS8.24","REF.IAS8.4"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000153","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.LIMITATIONS","IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000153","tested_point":"QST.IAS8.000153","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000009","section_id":"principle"},"references":["IAS 8 §25","IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"Chudence cannot determine the cumulative effect of its new policy at the beginning of the current period; the earliest date practicable is 1 October 2024. The new policy changes the result of transactions after that date by {monthly_effect} a month (case data), i.e. {months_after_date} months in 2024. What is the effect on the 2024 comparative?","es":""},"explanation":{"fr":"","en":"The comparative is adjusted to apply the new policy prospectively from the earliest date practicable (IAS 8, para. 25), that is to transactions after that date only (IAS 8, para. 5): 3,000 × 3 = 9,000.","es":""},"format":"CALCULATION","placeholders":[{"id":"monthly_effect","value":"3000","unit":"EUR"},{"id":"months_after_date","value":"3","unit":"MONTHS"}],"data":[{"label":{"fr":"","en":"Monthly effect","es":""},"value":"3000","unit":"EUR"},{"label":{"fr":"","en":"Months after the practicable date","es":""},"value":"3","unit":"MONTHS"}],"steps":[{"id":"COMPARATIVE_EFFECT","label":{"fr":"","en":"Effect on the 2024 comparative","es":""},"answer":9000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"COMPARATIVE_EFFECT","meaning":{"fr":"","en":"Effect on the 2024 comparative","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Monthly effect","es":""},"value":3000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Months after the practicable date","es":""},"value":3,"unit":"MONTHS"}],"result":9000,"unit":"EUR","rationale":{"fr":"","en":"The comparative is adjusted to apply the new policy prospectively from the earliest date practicable (IAS 8, para. 25), that is to transactions after that date only (IAS 8, para. 5): 3,000 × 3 = 9,000.","es":""}}],"references":["REF.IAS8.25","REF.IAS8.5"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000154","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.LIMITATIONS"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000154","tested_point":"QST.IAS8.000154","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":270,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000009","section_id":"principle"},"references":["IAS 8 §53"],"exercise":{"prompt":{"fr":"","en":"To apply a new policy to 2024, Chesax must estimate an amount at the end of 2024. According to the file prepared at the time (estimation method provided by the case): a {probability_high} chance of an amount of {amount_high} and {probability_low} of an amount of {amount_low}. The outcome known in 2025 is {actual_outcome_2025}. What amount should be used for 2024?","es":""},"explanation":{"fr":"","en":"Hindsight is not used to estimate the amounts of a prior period (IAS 8, para. 53): the 2025 outcome is ignored. Weighting provided by the case: 100,000 × 60% + 40,000 × 40% = 76,000.","es":""},"common_error":{"fr":"","en":"Using the outcome known in 2025.","es":""},"format":"CALCULATION","placeholders":[{"id":"probability_high","value":"60","unit":"PERCENT"},{"id":"amount_high","value":"100000","unit":"EUR"},{"id":"probability_low","value":"40","unit":"PERCENT"},{"id":"amount_low","value":"40000","unit":"EUR"},{"id":"actual_outcome_2025","value":"30000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Probability of the high scenario","es":""},"value":"60","unit":"PERCENT"},{"label":{"fr":"","en":"Amount of the high scenario","es":""},"value":"100000","unit":"EUR"},{"label":{"fr":"","en":"Probability of the low scenario","es":""},"value":"40","unit":"PERCENT"},{"label":{"fr":"","en":"Amount of the low scenario","es":""},"value":"40000","unit":"EUR"},{"label":{"fr":"","en":"Outcome known in 2025","es":""},"value":"30000","unit":"EUR"}],"steps":[{"id":"ESTIMATE_2024","label":{"fr":"","en":"Amount used for 2024","es":""},"answer":76000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"ESTIMATE_2024","meaning":{"fr":"","en":"Amount used for 2024","es":""},"expression":"a * b + c * d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Amount of the high scenario","es":""},"value":100000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Probability of the high scenario","es":""},"value":60,"unit":"PERCENT"},{"symbol":"c","meaning":{"fr":"","en":"Amount of the low scenario","es":""},"value":40000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Probability of the low scenario","es":""},"value":40,"unit":"PERCENT"}],"result":76000,"unit":"EUR"}],"rationale":{"fr":"","en":"Hindsight is not used to estimate the amounts of a prior period (IAS 8, para. 53): the 2025 outcome is ignored.","es":""},"references":["REF.IAS8.53"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000155","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.LIMITATIONS"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000155","tested_point":"QST.IAS8.000155","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000009","section_id":"principle"},"references":["IAS 8 §24"],"exercise":{"prompt":{"fr":"","en":"An IT failure permanently erased Clurnade's 2023 data; the 2024 data are complete. Clurnade presents 2025 and 2024 and changes policy in 2025. Which treatment applies?","es":""},"explanation":{"fr":"","en":"If the period-specific effects for a prior period presented cannot be determined, the policy is applied to carrying amounts at the beginning of the earliest practicable period, with an adjustment to its opening equity (IAS 8, para. 24). Here, 2024 remains practicable.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Apply the new policy from 1 January 2025 only, keeping the 2024 comparatives as published.","es":""},"correct":false,"feedback":{"fr":"","en":"Application to 2024 remains practicable and must be done.","es":""}},{"id":"B","text":{"fr":"","en":"Apply the new policy to carrying amounts at 1 January 2024, adjust equity at that date and restate 2024.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Give up the change in policy.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard sets out how to apply the change despite the loss of data.","es":""}},{"id":"D","text":{"fr":"","en":"Estimate the 2023 data using information available in 2025.","es":""},"correct":false,"feedback":{"fr":"","en":"Hindsight is ruled out.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000156","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.LIMITATIONS"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000156","tested_point":"QST.IAS8.000156","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000009","section_id":"principle"},"references":["IAS 8 §25"],"exercise":{"prompt":{"fr":"","en":"Cléstal cannot determine the cumulative effect of its new policy for any prior period, for lack of data, except for transactions entered into from 1 July 2024, when a new system started collecting the necessary information. Which treatment applies?","es":""},"explanation":{"fr":"","en":"If it is impracticable to determine the cumulative effect at the beginning of the current period, comparative information is adjusted to apply the new policy prospectively from the earliest date practicable (IAS 8, para. 25), here 1 July 2024.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Apply the new policy prospectively from 1 July 2024, adjusting the comparative accordingly.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Apply the new policy from 1 January 2025, ignoring the data available since July 2024.","es":""},"correct":false,"feedback":{"fr":"","en":"The earliest date practicable is before 1 January 2025.","es":""}},{"id":"C","text":{"fr":"","en":"Apply the new policy at 1 January 2024 with a lump-sum opening adjustment.","es":""},"correct":false,"feedback":{"fr":"","en":"A lump-sum adjustment has no determinable basis.","es":""}},{"id":"D","text":{"fr":"","en":"Restate 2024 in full, estimating the first half from 2025 data.","es":""},"correct":false,"feedback":{"fr":"","en":"Using 2025 data with hindsight is ruled out.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000157","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.LIMITATIONS","IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000157","tested_point":"QST.IAS8.000157","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000009","section_id":"principle"},"references":["IAS 8 §23","IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"Fyscot's finance director claims that retrospective application of the new policy is 'impracticable': the data exist in the archives, but extracting them would be costly and take two months. What is the conclusion?","es":""},"explanation":{"fr":"","en":"Retrospective application is set aside only to the extent it is impracticable (IAS 8, para. 23), that is when the entity cannot apply it after making every reasonable effort (IAS 8, para. 5). Assessing whether efforts are reasonable is a documented judgement.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Impracticability is established whenever a restatement takes more than one month.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard sets no time threshold.","es":""}},{"id":"B","text":{"fr":"","en":"Impracticability is established because the data are archived.","es":""},"correct":false,"feedback":{"fr":"","en":"Archived data remain accessible.","es":""}},{"id":"C","text":{"fr":"","en":"Impracticability is established if the board approves it.","es":""},"correct":false,"feedback":{"fr":"","en":"Board approval is not a criterion.","es":""}},{"id":"D","text":{"fr":"","en":"Impracticability is not established: a high cost is not enough as long as reasonable efforts can succeed.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000160","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000160","tested_point":"QST.IAS8.000160","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000010","section_id":"initial-application"},"references":["IAS 8"],"exercise":{"prompt":{"fr":"","en":"When initial application of an IFRS has an effect on the current period or a prior period, the entity discloses, among other things, the title of that IFRS.","es":""},"explanation":{"fr":"","en":"On initial application of an IFRS affecting the period or a prior period, the entity discloses, among other things, the title of the IFRS, the nature of the change and, to the extent practicable, the amount of the adjustment for each line item (IAS 8, para. 28).","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000161","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000161","tested_point":"QST.IAS8.000161","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000010","section_id":"initial-application"},"references":["IAS 8 §29"],"exercise":{"prompt":{"fr":"","en":"For a voluntary change in policy, the entity explains why the new policy provides reliable and more relevant information.","es":""},"explanation":{"fr":"","en":"For a voluntary change affecting the period or a prior period, the entity discloses, among other things, the nature of the change and the reasons why the new policy provides reliable and more relevant information (IAS 8, para. 29).","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000162","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000162","tested_point":"QST.IAS8.000162","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000010","section_id":"initial-application"},"references":["IAS 8 §30"],"exercise":{"prompt":{"fr":"","en":"An entity has nothing to disclose about a new IFRS that has been issued but is not yet effective, as long as it does not apply it.","es":""},"explanation":{"fr":"","en":"When a new IFRS has been issued but is not yet effective and has not been applied, the entity discloses that fact and known or reasonably estimable information relevant to assessing the possible impact of its initial application (IAS 8, para. 30).","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000163","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000163","tested_point":"QST.IAS8.000163","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000010","section_id":"initial-application"},"references":["IAS 8 §29"],"exercise":{"prompt":{"fr":"","en":"Which of the following disclosures is specific to a voluntary change in accounting policy?","es":""},"explanation":{"fr":"","en":"For a voluntary change, the entity discloses, among other things, the reasons why the new policy provides reliable and more relevant information (IAS 8, para. 29).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A description of the transitional provisions of the IFRS applied for the first time.","es":""},"correct":false,"feedback":{"fr":"","en":"Transitional provisions concern initial application of an IFRS.","es":""}},{"id":"B","text":{"fr":"","en":"The title of the newly applied IFRS.","es":""},"correct":false,"feedback":{"fr":"","en":"This disclosure concerns initial application of an IFRS.","es":""}},{"id":"C","text":{"fr":"","en":"The date on which an IFRS not yet applied will become mandatory for the entity and its subsidiaries.","es":""},"correct":false,"feedback":{"fr":"","en":"This disclosure concerns an issued IFRS not yet applied.","es":""}},{"id":"D","text":{"fr":"","en":"The reasons why the new policy provides reliable and more relevant information.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000164","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000164","tested_point":"QST.IAS8.000164","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000010","section_id":"initial-application"},"references":["IAS 8"],"exercise":{"prompt":{"fr":"","en":"Gridal, listed and subject to IAS 33, applies for the first time an IFRS that changes several line items. What amount must it disclose for the current period and each prior period presented, to the extent practicable?","es":""},"explanation":{"fr":"","en":"The entity discloses, for the current period and each prior period presented, to the extent practicable, the amount of the adjustment for each line item affected and, if IAS 33 applies, for basic and diluted earnings per share (IAS 8, para. 28).","es":""},"common_error":{"fr":"","en":"Omitting the effect on earnings per share.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Only the overall effect on net profit, with no line-by-line detail.","es":""},"correct":false,"feedback":{"fr":"","en":"A line-by-line breakdown is required.","es":""}},{"id":"B","text":{"fr":"","en":"The amount of the adjustment for each line item affected and for basic and diluted earnings per share.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"No amount: the nature of the change is enough.","es":""},"correct":false,"feedback":{"fr":"","en":"Amounts are required to the extent practicable.","es":""}},{"id":"D","text":{"fr":"","en":"The effect on closing equity only, for the current period alone.","es":""},"correct":false,"feedback":{"fr":"","en":"The disclosure covers each period presented and each line item.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000165","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000165","tested_point":"QST.IAS8.000165","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000010","section_id":"initial-application"},"references":["IAS 8 §30"],"exercise":{"prompt":{"fr":"","en":"An issued IFRS will become effective in two years; Raitard does not yet apply it. What does it disclose in its notes?","es":""},"explanation":{"fr":"","en":"The entity discloses that it has not applied an issued IFRS not yet effective and provides known or reasonably estimable information relevant to assessing the possible impact of its initial application (IAS 8, para. 30).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"That it does not yet apply this IFRS, and known or reasonably estimable information on its possible impact.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Nothing until the IFRS becomes effective.","es":""},"correct":false,"feedback":{"fr":"","en":"A disclosure is required as soon as the IFRS is issued.","es":""}},{"id":"C","text":{"fr":"","en":"An early restatement of its comparatives under the new IFRS, to inform readers of the future impact now.","es":""},"correct":false,"feedback":{"fr":"","en":"No restatement is required before application.","es":""}},{"id":"D","text":{"fr":"","en":"Only the title of the IFRS, with no further detail.","es":""},"correct":false,"feedback":{"fr":"","en":"Information on the possible impact is also required.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000166","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000166","tested_point":"QST.IAS8.000166","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000010","section_id":"initial-application"},"references":["IAS 8 §30","IAS 8 §31"],"exercise":{"prompt":{"fr":"","en":"To meet the disclosure on an issued IFRS not yet applied, which items does the entity consider disclosing?","es":""},"explanation":{"fr":"","en":"To comply with paragraph 30 (IAS 8, para. 30), the entity considers disclosing the title of the new IFRS, the nature of the expected changes, the date by which application is required, the planned date of initial application and an analysis of the expected impact (IAS 8, para. 31).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"An analysis of the expected impact of its initial application.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Comparatives restated under the new IFRS.","es":""},"correct":false,"feedback":{"fr":"","en":"No restatement is expected before application.","es":""}},{"id":"C","text":{"fr":"","en":"The date by which its application is required and the date the entity plans to apply it.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The nature of the expected change or changes in policy.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The title of the new IFRS.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000167","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000167","tested_point":"QST.IAS8.000167","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000010","section_id":"initial-application"},"references":["IAS 8"],"exercise":{"prompt":{"fr":"","en":"On initial application of an IFRS affecting the period, which disclosures are among those required?","es":""},"explanation":{"fr":"","en":"On initial application of an IFRS, the entity discloses, among other things, the title of the IFRS, when applicable compliance with its transitional provisions, the nature of the change and, to the extent practicable, the amount of the adjustment for each line item (IAS 8, para. 28).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The reasons why the new policy is more relevant than the old one.","es":""},"correct":false,"feedback":{"fr":"","en":"This justification is specific to voluntary changes.","es":""}},{"id":"B","text":{"fr":"","en":"The nature of the change in accounting policy.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The name of the manager who proposed the change.","es":""},"correct":false,"feedback":{"fr":"","en":"This disclosure is not required.","es":""}},{"id":"D","text":{"fr":"","en":"To the extent practicable, the amount of the adjustment for each line item affected.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The title of the IFRS and, when applicable, that the change follows its transitional provisions.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000168","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.DISCLOSURE"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000168","tested_point":"QST.IAS8.000168","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000010","section_id":"initial-application"},"references":["IAS 8 §29"],"exercise":{"prompt":{"fr":"","en":"Pomenne's note on its voluntary change in policy discloses the nature of the change, its reasons and the total effect on 2024 profit. What gap do you note?","es":""},"explanation":{"fr":"","en":"For a voluntary change, the entity discloses the nature of the change, its reasons and, to the extent practicable, the amount of the adjustment for each line item affected (IAS 8, para. 29).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The note should not mention the reasons for the change, which belong in the management report.","es":""},"correct":false,"feedback":{"fr":"","en":"The reasons are precisely a required disclosure.","es":""}},{"id":"B","text":{"fr":"","en":"The note should mention the title of a newly issued IFRS.","es":""},"correct":false,"feedback":{"fr":"","en":"No new IFRS is involved in a voluntary change.","es":""}},{"id":"C","text":{"fr":"","en":"The amount of the adjustment for each line item affected is missing.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"None: the total effect on profit is enough.","es":""},"correct":false,"feedback":{"fr":"","en":"An overall effect does not replace the line-by-line detail.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000169","standard_id":"IAS8","concept_ids":["IAS8.POLICY_CHANGES.DISCLOSURE"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000169","tested_point":"QST.IAS8.000169","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000010","section_id":"initial-application"},"references":["IAS 8 §30"],"exercise":{"prompt":{"fr":"","en":"An IFRS issued during the year will significantly change the presentation of Lotine's income statement from 2027. The 2025 notes say nothing about it, 'since it is not yet applicable'. What is the error?","es":""},"explanation":{"fr":"","en":"When a new IFRS has been issued but is not yet effective and has not been applied, the entity discloses that fact and known or reasonably estimable information on the possible impact of its initial application (IAS 8, para. 30).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The entity must mention this issued IFRS not yet applied and its known or reasonably estimable possible impact.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"None: only IFRSs applied are disclosed.","es":""},"correct":false,"feedback":{"fr":"","en":"Issued IFRSs not yet applied are also disclosed.","es":""}},{"id":"C","text":{"fr":"","en":"The entity should have restated its comparatives under the new IFRS.","es":""},"correct":false,"feedback":{"fr":"","en":"No restatement is required before application.","es":""}},{"id":"D","text":{"fr":"","en":"The entity should have early-applied this IFRS, from the year it was issued.","es":""},"correct":false,"feedback":{"fr":"","en":"Early application is not mandatory.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000170","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DEFINITION_AND_DEVELOPMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000170","tested_point":"QST.IAS8.000170","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000011","section_id":"definition"},"references":["IAS 8 §33"],"exercise":{"prompt":{"fr":"","en":"The use of reasonable estimates is an essential part of preparing financial statements and does not undermine their reliability.","es":""},"explanation":{"fr":"","en":"Using reasonable estimates is an essential part of preparing financial statements and does not undermine their reliability (IAS 8, para. 33).","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000171","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DEFINITION_AND_DEVELOPMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000171","tested_point":"QST.IAS8.000171","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000011","section_id":"definition"},"references":["IAS 8 §32"],"exercise":{"prompt":{"fr":"","en":"An entity develops an accounting estimate to achieve the objective set by an accounting policy when the amount required cannot be observed directly.","es":""},"explanation":{"fr":"","en":"When a policy requires items to be measured at amounts that cannot be observed directly, the entity develops an accounting estimate to achieve the objective set by the policy (IAS 8, para. 32).","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000172","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DEFINITION_AND_DEVELOPMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000172","tested_point":"QST.IAS8.000172","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000011","section_id":"definition"},"references":["IAS 8 §32B"],"exercise":{"prompt":{"fr":"","en":"The word 'estimate' used in an IFRS always means an accounting estimate as defined in IAS 8.","es":""},"explanation":{"fr":"","en":"The term 'estimate' in IFRSs does not always refer to an accounting estimate: it may refer, for example, to an input used in developing an accounting estimate (IAS 8, para. 32B).","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000173","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DEFINITION_AND_DEVELOPMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000173","tested_point":"QST.IAS8.000173","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000011","section_id":"definition"},"references":["IAS 8 §32A"],"exercise":{"prompt":{"fr":"","en":"The measurement techniques used to develop an accounting estimate include estimation techniques and valuation techniques.","es":""},"explanation":{"fr":"","en":"To develop an accounting estimate, an entity uses measurement techniques and inputs; the techniques include estimation techniques (expected credit losses, for example) and valuation techniques (fair value, for example) (IAS 8, para. 32A).","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000174","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DEFINITION_AND_DEVELOPMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000174","tested_point":"QST.IAS8.000174","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000011","section_id":"definition"},"references":["IAS 8 §32"],"exercise":{"prompt":{"fr":"","en":"Which of the following is an accounting estimate?","es":""},"explanation":{"fr":"","en":"The loss allowance for expected credit losses is one of the examples of accounting estimates, together with the net realisable value of inventories, fair value, depreciation expense and the warranty provision (IAS 8, para. 32).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The choice of FIFO for all of the group's merchandise inventories.","es":""},"correct":false,"feedback":{"fr":"","en":"Choosing a cost formula is an accounting policy.","es":""}},{"id":"B","text":{"fr":"","en":"The loss allowance for expected credit losses on trade receivables.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The decision to present expenses by function.","es":""},"correct":false,"feedback":{"fr":"","en":"A presentation choice is not an estimate.","es":""}},{"id":"D","text":{"fr":"","en":"The choice of the cost model for property, plant and equipment.","es":""},"correct":false,"feedback":{"fr":"","en":"Choosing a measurement model is an accounting policy.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000175","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DEFINITION_AND_DEVELOPMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000175","tested_point":"QST.IAS8.000175","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000011","section_id":"definition"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"What characteristic defines an accounting estimate?","es":""},"explanation":{"fr":"","en":"Accounting estimates are monetary amounts in financial statements that are subject to measurement uncertainty (IAS 8, para. 5).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It is a provisional amount that will be corrected as an error if it proves inaccurate.","es":""},"correct":false,"feedback":{"fr":"","en":"Revising an estimate is not, in itself, correcting an error.","es":""}},{"id":"B","text":{"fr":"","en":"It is a presentation rule chosen by management for the financial statements as a whole.","es":""},"correct":false,"feedback":{"fr":"","en":"A presentation rule belongs to policies, not estimates.","es":""}},{"id":"C","text":{"fr":"","en":"It is an amount that only an external expert can determine.","es":""},"correct":false,"feedback":{"fr":"","en":"Using an expert is not a criterion of the definition.","es":""}},{"id":"D","text":{"fr":"","en":"It is a monetary amount in the financial statements that is subject to measurement uncertainty.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000176","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DEFINITION_AND_DEVELOPMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000176","tested_point":"QST.IAS8.000176","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000011","section_id":"definition"},"references":["IAS 8 §32"],"exercise":{"prompt":{"fr":"","en":"On what basis does an entity form the judgements and assumptions underlying an accounting estimate?","es":""},"explanation":{"fr":"","en":"Developing an accounting estimate involves judgements or assumptions based on the latest available reliable information (IAS 8, para. 32).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"On the most prudent assumptions, whatever information is available.","es":""},"correct":false,"feedback":{"fr":"","en":"Prudence does not replace the use of available information.","es":""}},{"id":"B","text":{"fr":"","en":"On the assumptions used at initial recognition, which are never reviewed afterwards.","es":""},"correct":false,"feedback":{"fr":"","en":"Assumptions rely on the latest information, not on frozen data.","es":""}},{"id":"C","text":{"fr":"","en":"On the latest available reliable information.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"On the profit target set by management for the year.","es":""},"correct":false,"feedback":{"fr":"","en":"A profit target is not a basis for estimates.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000177","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DEFINITION_AND_DEVELOPMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000177","tested_point":"QST.IAS8.000177","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000011","section_id":"definition"},"references":["IAS 8 §32A"],"exercise":{"prompt":{"fr":"","en":"Bruscois measures an investment at fair value using discounted future cash flows. How should this discounted cash flow model be described?","es":""},"explanation":{"fr":"","en":"To develop an estimate, an entity uses measurement techniques and inputs; valuation techniques are used in particular to measure fair value (IAS 8, para. 32A).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"An accounting policy, like the choice of fair value as the measurement basis.","es":""},"correct":false,"feedback":{"fr":"","en":"The model is a measurement technique, not the measurement basis itself.","es":""}},{"id":"B","text":{"fr":"","en":"A potential error to be corrected retrospectively.","es":""},"correct":false,"feedback":{"fr":"","en":"Using a model is not an error.","es":""}},{"id":"C","text":{"fr":"","en":"A valuation technique used to develop an accounting estimate.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"An input to the estimate.","es":""},"correct":false,"feedback":{"fr":"","en":"The inputs are the cash flows and the rate, not the model.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000178","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DEFINITION_AND_DEVELOPMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000178","tested_point":"QST.IAS8.000178","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000011","section_id":"definition"},"references":["IAS 8 §32B"],"exercise":{"prompt":{"fr":"","en":"To measure a provision, Fosore uses a discount rate that a standard calls an 'estimate'. How should this rate be described under IAS 8?","es":""},"explanation":{"fr":"","en":"The term 'estimate' in IFRSs may refer to an input used in developing an accounting estimate, not the accounting estimate itself (IAS 8, para. 32B).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"An accounting policy, since the term appears in a standard.","es":""},"correct":false,"feedback":{"fr":"","en":"A standard's wording does not turn an input into a policy.","es":""}},{"id":"B","text":{"fr":"","en":"A separate accounting estimate, to be disclosed separately in the notes.","es":""},"correct":false,"feedback":{"fr":"","en":"The rate is not an amount in the financial statements but an input.","es":""}},{"id":"C","text":{"fr":"","en":"A judgement excluded from any later revision.","es":""},"correct":false,"feedback":{"fr":"","en":"Inputs can be revised.","es":""}},{"id":"D","text":{"fr":"","en":"An input used to develop the accounting estimate that the provision represents.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000179","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DEFINITION_AND_DEVELOPMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000179","tested_point":"QST.IAS8.000179","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000011","section_id":"definition"},"references":["IAS 8 §5","IAS 8 §32"],"exercise":{"prompt":{"fr":"","en":"Which of the following items at Gaulbard is not an accounting estimate?","es":""},"explanation":{"fr":"","en":"Estimates are amounts subject to measurement uncertainty (IAS 8, para. 5), developed to achieve a policy's objective; the standard names, among others, the warranty provision, depreciation expense and net realisable value (IAS 8, para. 32). Choosing a measurement basis is a policy.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Depreciation expense on machinery.","es":""},"correct":false,"feedback":{"fr":"","en":"Depreciation expense is an example of an accounting estimate.","es":""}},{"id":"B","text":{"fr":"","en":"Choosing fair value as the measurement basis for the buildings held.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The net realisable value of an inventory of outdated items.","es":""},"correct":false,"feedback":{"fr":"","en":"Net realisable value is an example of an accounting estimate.","es":""}},{"id":"D","text":{"fr":"","en":"The warranty provision on the year's sales.","es":""},"correct":false,"feedback":{"fr":"","en":"The warranty provision is an example of an accounting estimate.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000180","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DEFINITION_AND_DEVELOPMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000180","tested_point":"QST.IAS8.000180","difficulty":"BEGINNER","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000011","section_id":"definition"},"references":["IAS 8 §32"],"exercise":{"prompt":{"fr":"","en":"Which of the following amounts does IAS 8 give as examples of accounting estimates?","es":""},"explanation":{"fr":"","en":"The standard gives as examples of accounting estimates the loss allowance for expected credit losses, the net realisable value of inventory, fair value, depreciation expense and the warranty provision (IAS 8, para. 32).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The net realisable value of inventory.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Depreciation expense for an item of property, plant and equipment.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The decision to apply FIFO.","es":""},"correct":false,"feedback":{"fr":"","en":"This is a policy choice.","es":""}},{"id":"D","text":{"fr":"","en":"The choice between the cost model and the revaluation model.","es":""},"correct":false,"feedback":{"fr":"","en":"This is a policy choice.","es":""}},{"id":"E","text":{"fr":"","en":"A loss allowance for expected credit losses.","es":""},"correct":true},{"id":"F","text":{"fr":"","en":"A provision for warranty obligations.","es":""},"correct":true},{"id":"G","text":{"fr":"","en":"The fair value of an asset or liability.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000181","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DEFINITION_AND_DEVELOPMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000181","tested_point":"QST.IAS8.000181","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000011","section_id":"definition"},"references":["IAS 8 §32A"],"exercise":{"prompt":{"fr":"","en":"For the loss allowance on its receivables, Jirvine uses a provision matrix fed by historical default rates and economic forecasts. Which descriptions are correct?","es":""},"explanation":{"fr":"","en":"To develop an accounting estimate, an entity uses measurement techniques, including estimation techniques for expected credit losses, and inputs (IAS 8, para. 32A).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The historical default rates are inputs.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The resulting loss allowance is an input.","es":""},"correct":false,"feedback":{"fr":"","en":"The loss allowance is the accounting estimate itself.","es":""}},{"id":"C","text":{"fr":"","en":"The matrix is an accounting policy in its own right.","es":""},"correct":false,"feedback":{"fr":"","en":"The matrix is a technique serving the estimate.","es":""}},{"id":"D","text":{"fr":"","en":"The matrix is an estimation technique.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The economic forecasts are inputs.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000182","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DEFINITION_AND_DEVELOPMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000182","tested_point":"QST.IAS8.000182","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000011","section_id":"definition"},"references":["IAS 8 §32","IAS 8 §33"],"exercise":{"prompt":{"fr":"","en":"Which statements about accounting estimates are correct?","es":""},"explanation":{"fr":"","en":"An estimate is developed to achieve a policy's objective, using judgements or assumptions based on the latest reliable information (IAS 8, para. 32); reasonable estimates do not undermine reliability (IAS 8, para. 33).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"They never rely on management's judgement.","es":""},"correct":false,"feedback":{"fr":"","en":"They rely on judgements or assumptions.","es":""}},{"id":"B","text":{"fr":"","en":"Their presence makes financial statements less reliable, which must be pointed out.","es":""},"correct":false,"feedback":{"fr":"","en":"Reasonable estimates do not undermine reliability.","es":""}},{"id":"C","text":{"fr":"","en":"They must be based on the information available at initial recognition, without updating.","es":""},"correct":false,"feedback":{"fr":"","en":"They rely on the latest reliable information.","es":""}},{"id":"D","text":{"fr":"","en":"Reasonable estimates are an essential part of preparing financial statements.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"They are developed to achieve the objective set by an accounting policy.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000183","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DEFINITION_AND_DEVELOPMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000183","tested_point":"QST.IAS8.000183","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000011","section_id":"definition"},"references":["IAS 8 §32B","IAS 8 §32A"],"exercise":{"prompt":{"fr":"","en":"In Kedian's closing file, several items are called 'estimates'. Which of them are actually inputs rather than accounting estimates?","es":""},"explanation":{"fr":"","en":"The word 'estimate' may refer to an input used in developing an accounting estimate (IAS 8, para. 32B); estimates are produced from techniques and inputs (IAS 8, para. 32A).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The rental growth rate used in valuing that building.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The discount rate for that provision.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The fair value of a rental building.","es":""},"correct":false,"feedback":{"fr":"","en":"Fair value is the accounting estimate.","es":""}},{"id":"D","text":{"fr":"","en":"The unit cost of decommissioning taken from a quotation.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The decommissioning provision recognised as a liability.","es":""},"correct":false,"feedback":{"fr":"","en":"The provision is the accounting estimate.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000184","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DEFINITION_AND_DEVELOPMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000184","tested_point":"QST.IAS8.000184","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000011","section_id":"definition"},"references":["IAS 8 §32"],"exercise":{"prompt":{"fr":"","en":"At the reporting date, Kevois reviews the net realisable value of its inventories. Which steps are consistent with IAS 8?","es":""},"explanation":{"fr":"","en":"An estimate relies on judgements or assumptions based on the latest available reliable information; net realisable value is one example (IAS 8, para. 32).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Using the lowest price ever observed, for prudence, whatever its date.","es":""},"correct":false,"feedback":{"fr":"","en":"An old, isolated price is not the latest reliable information.","es":""}},{"id":"B","text":{"fr":"","en":"Documenting the judgements made on the sale of slow-moving items.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Using the most recent selling prices observed before the reporting date.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Using selling cost assumptions based on the quotations received.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Keeping last year's assumptions to preserve consistency of policies.","es":""},"correct":false,"feedback":{"fr":"","en":"Consistency concerns policies, not estimation assumptions.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000187","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000187","tested_point":"QST.IAS8.000187","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §35"],"exercise":{"prompt":{"fr":"","en":"Laivot moves from the cost model to the fair value model for its investment property. How should this change be described?","es":""},"explanation":{"fr":"","en":"A change in the measurement basis applied is a change in accounting policy and not a change in accounting estimate (IAS 8, para. 35).","es":""},"common_error":{"fr":"","en":"Treating a change in measurement basis as a change in estimate.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A change in accounting policy, since it is a change in measurement basis.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The correction of a prior period error.","es":""},"correct":false,"feedback":{"fr":"","en":"The old model was not wrong.","es":""}},{"id":"C","text":{"fr":"","en":"A change in accounting estimate, because fair value relies on market estimates.","es":""},"correct":false,"feedback":{"fr":"","en":"Relying on estimates does not turn a change of basis into a change in estimate.","es":""}},{"id":"D","text":{"fr":"","en":"A mere presentation change with no effect on measurement.","es":""},"correct":false,"feedback":{"fr":"","en":"Measurement of the property does change.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000188","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000188","tested_point":"QST.IAS8.000188","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §34A"],"exercise":{"prompt":{"fr":"","en":"With no recent comparable transactions, Mundac moves from a market approach to an income approach to measure the fair value of an asset. How should the effect of this change be treated?","es":""},"explanation":{"fr":"","en":"The effects on an accounting estimate of a change in a measurement technique are changes in accounting estimates unless they result from the correction of prior period errors (IAS 8, para. 34A).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As a change in policy, applied retrospectively to all periods presented.","es":""},"correct":false,"feedback":{"fr":"","en":"A change in technique is not a change in policy.","es":""}},{"id":"B","text":{"fr":"","en":"As a change in measurement basis.","es":""},"correct":false,"feedback":{"fr":"","en":"The basis remains fair value; only the technique changes.","es":""}},{"id":"C","text":{"fr":"","en":"As the correction of a prior period error.","es":""},"correct":false,"feedback":{"fr":"","en":"No error: the technique was adapted to the data available.","es":""}},{"id":"D","text":{"fr":"","en":"As a change in accounting estimate.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000189","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000189","tested_point":"QST.IAS8.000189","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §35"],"exercise":{"prompt":{"fr":"","en":"After analysis, Nimède's accounting team cannot tell whether a change is a change in policy or a change in estimate. What does IAS 8 require?","es":""},"explanation":{"fr":"","en":"When it is difficult to distinguish a change in accounting policy from a change in accounting estimate, the change is treated as a change in accounting estimate (IAS 8, para. 35).","es":""},"common_error":{"fr":"","en":"Applying retrospectively a change whose classification remains uncertain.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The entity freely chooses the treatment most favourable to its profit.","es":""},"correct":false,"feedback":{"fr":"","en":"The choice is not free.","es":""}},{"id":"B","text":{"fr":"","en":"The change is treated as a change in policy, for prudence, with comparatives restated.","es":""},"correct":false,"feedback":{"fr":"","en":"The rule when in doubt leads to the estimate treatment.","es":""}},{"id":"C","text":{"fr":"","en":"The change is treated as a change in accounting estimate.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The change is deferred until the classification is certain.","es":""},"correct":false,"feedback":{"fr":"","en":"Difficulty in classifying does not justify a deferral.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000190","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000190","tested_point":"QST.IAS8.000190","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §32","IAS 8 §34A"],"exercise":{"prompt":{"fr":"","en":"Gautia replaces the straight-line method with a units-of-production method to depreciate its presses, to better reflect their consumption. How should this change be treated?","es":""},"explanation":{"fr":"","en":"Depreciation expense is an accounting estimate (IAS 8, para. 32); the effect of a change in the technique used to develop it, such as the depreciation method, is a change in estimate (IAS 8, para. 34A).","es":""},"common_error":{"fr":"","en":"Calling a change in depreciation method a change in policy.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As a change in accounting estimate, applied prospectively.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"As a change in the measurement basis of the presses.","es":""},"correct":false,"feedback":{"fr":"","en":"The measurement basis (cost) does not change.","es":""}},{"id":"C","text":{"fr":"","en":"As the correction of an error, since the straight-line method did not reflect consumption.","es":""},"correct":false,"feedback":{"fr":"","en":"The previous method relied on the information of the time.","es":""}},{"id":"D","text":{"fr":"","en":"As a change in accounting policy, applied retrospectively to the periods presented.","es":""},"correct":false,"feedback":{"fr":"","en":"The depreciation method is not an accounting policy within IAS 8.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000191","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000191","tested_point":"QST.IAS8.000191","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §48"],"exercise":{"prompt":{"fr":"","en":"Sostia had provided 250,000 for a lawsuit on the basis of the best information of the time. The lawsuit is settled in 2025 for 340,000. How should the difference of 90,000 be described?","es":""},"explanation":{"fr":"","en":"Corrections of errors are distinguished from changes in estimates, which are approximations open to revision; the gain or loss recognised on the outcome of a contingency is not the correction of an error (IAS 8, para. 48).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It is a change in accounting policy on provisions.","es":""},"correct":false,"feedback":{"fr":"","en":"No policy has changed.","es":""}},{"id":"B","text":{"fr":"","en":"It is not the correction of an error: it is the effect of the outcome of a contingency.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"It is an event to be charged directly to 2025 equity.","es":""},"correct":false,"feedback":{"fr":"","en":"The difference is not charged directly to equity.","es":""}},{"id":"D","text":{"fr":"","en":"It is a 2024 error, to be corrected by retrospective restatement of comparatives.","es":""},"correct":false,"feedback":{"fr":"","en":"The provision relied on the best information: no error.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000192","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000192","tested_point":"QST.IAS8.000192","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §34A","IAS 8 §35"],"exercise":{"prompt":{"fr":"","en":"Which of Laurvorn's following changes are changes in accounting estimates?","es":""},"explanation":{"fr":"","en":"The effects of a change in an input or a measurement technique are changes in estimates, unless they correct an error (IAS 8, para. 34A); a change in measurement basis is a change in policy (IAS 8, para. 35).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Correcting a discount rate keyed in wrongly in 2024 when the right rate was known.","es":""},"correct":false,"feedback":{"fr":"","en":"This is an error correction, excluded from changes in estimates.","es":""}},{"id":"B","text":{"fr":"","en":"Moving from the cost model to the fair value model for buildings.","es":""},"correct":false,"feedback":{"fr":"","en":"Change in measurement basis: accounting policy.","es":""}},{"id":"C","text":{"fr":"","en":"Moving to a new technique for computing expected credit losses.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Revising the expected return rate used for the warranty provision.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Updating the discount rate of a provision.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000193","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000193","tested_point":"QST.IAS8.000193","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §34"],"exercise":{"prompt":{"fr":"","en":"Which statements about revising an accounting estimate are correct?","es":""},"explanation":{"fr":"","en":"An estimate may need revision as a result of changes in the circumstances, new information, new developments or more experience; by its nature, the revision does not relate to prior periods and is not the correction of an error (IAS 8, para. 34).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It requires comparatives to be restated.","es":""},"correct":false,"feedback":{"fr":"","en":"A revision of an estimate does not relate to prior periods.","es":""}},{"id":"B","text":{"fr":"","en":"It may result from a change in the circumstances on which the estimate was based.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"By its nature, it does not relate to prior periods.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"By its nature, it reveals an error of prior periods.","es":""},"correct":false,"feedback":{"fr":"","en":"A revision is not, by its nature, an error correction.","es":""}},{"id":"E","text":{"fr":"","en":"It may result from new information or more experience.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000194","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000194","tested_point":"QST.IAS8.000194","difficulty":"EXPERT","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":140,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §34A","IAS 8 §35","IAS 8 §48"],"exercise":{"prompt":{"fr":"","en":"The Paulouël group reviews five changes made during the year. Which ones are dealt with prospectively, as changes in estimates?","es":""},"explanation":{"fr":"","en":"Changes in inputs or techniques are changes in estimates unless they correct an error (IAS 8, para. 34A); a change of basis is a policy and doubt leads to the estimate treatment (IAS 8, para. 35); the outcome of a contingency is not an error (IAS 8, para. 48).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Replacing one price index with another, more representative one, in a net realisable value calculation.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Moving from the cost model to revaluation for a class of intangible assets.","es":""},"correct":false,"feedback":{"fr":"","en":"Change in measurement basis: policy.","es":""}},{"id":"C","text":{"fr":"","en":"Correcting a faulty spreadsheet formula that distorted 2024 depreciation.","es":""},"correct":false,"feedback":{"fr":"","en":"This is the correction of an error.","es":""}},{"id":"D","text":{"fr":"","en":"A change that no analysis can classify with certainty as policy or estimate.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Increasing a provision after losing an uncertain lawsuit at first instance.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000195","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000195","tested_point":"QST.IAS8.000195","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §35"],"exercise":{"prompt":{"fr":"","en":"Note by Lotine's controller: 'We are moving to the fair value model for our investment property; since fair value is an estimate, we are treating this move prospectively.' Where is the error?","es":""},"explanation":{"fr":"","en":"A change in the measurement basis applied is a change in accounting policy and not a change in accounting estimate (IAS 8, para. 35).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Fair value is never an accounting estimate, whatever technique is used.","es":""},"correct":false,"feedback":{"fr":"","en":"Fair value is indeed an example of an estimate, but the measurement basis is a policy.","es":""}},{"id":"B","text":{"fr":"","en":"A change in measurement basis is a change in policy, not a change in estimate.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The move should have been treated as an error correction.","es":""},"correct":false,"feedback":{"fr":"","en":"No error is involved.","es":""}},{"id":"D","text":{"fr":"","en":"There is no error.","es":""},"correct":false,"feedback":{"fr":"","en":"The classification used is wrong.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000196","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000196","tested_point":"QST.IAS8.000196","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §34A"],"exercise":{"prompt":{"fr":"","en":"Kirvore replaces its receivables provision matrix with a more granular model fed by recent data. Its accountant restates comparatives 'for the change in policy'. What is the error?","es":""},"explanation":{"fr":"","en":"The effects on an estimate of a change in measurement technique are changes in accounting estimates, unless they correct an error (IAS 8, para. 34A).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A change in estimation technique is a change in estimate, dealt with prospectively.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"There is no error.","es":""},"correct":false,"feedback":{"fr":"","en":"Restating comparatives is unjustified.","es":""}},{"id":"C","text":{"fr":"","en":"The new model should have been applied only to receivables arising after the change.","es":""},"correct":false,"feedback":{"fr":"","en":"The effect of the change in estimate applies to existing receivables in the period of change.","es":""}},{"id":"D","text":{"fr":"","en":"The original matrix was an error to be corrected retrospectively.","es":""},"correct":false,"feedback":{"fr":"","en":"Nothing suggests an error: the matrix relied on the data of the time.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000197","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000197","tested_point":"QST.IAS8.000197","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §35"],"exercise":{"prompt":{"fr":"","en":"After long debates, Plairgence's technical committee concludes that a change cannot be classified with certainty as either a policy or an estimate. It decides to treat it retrospectively, 'for prudence'. What is the error?","es":""},"explanation":{"fr":"","en":"When it is difficult to distinguish a change in accounting policy from a change in accounting estimate, the change is treated as a change in accounting estimate (IAS 8, para. 35).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The committee should have deferred the decision to the following year.","es":""},"correct":false,"feedback":{"fr":"","en":"Doubt does not justify a deferral.","es":""}},{"id":"B","text":{"fr":"","en":"The change should have been treated as an error correction.","es":""},"correct":false,"feedback":{"fr":"","en":"No error is involved.","es":""}},{"id":"C","text":{"fr":"","en":"There is no error: prudence justifies retrospective treatment.","es":""},"correct":false,"feedback":{"fr":"","en":"Prudence does not replace the explicit rule in paragraph 35.","es":""}},{"id":"D","text":{"fr":"","en":"When in doubt, the change is treated as a change in estimate, hence prospectively.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000198","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000198","tested_point":"QST.IAS8.000198","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §32","IAS 8 §34A"],"exercise":{"prompt":{"fr":"","en":"Ruvane's file: 'Move from diminishing balance to straight-line depreciation for vehicles: change in accounting policy, applied retrospectively with 2024 restated.' What is the error?","es":""},"explanation":{"fr":"","en":"Depreciation expense is an estimate (IAS 8, para. 32); a change in the technique used to develop it is a change in estimate (IAS 8, para. 34A), so 2024 is not restated.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The change should have been charged directly to 2025 equity.","es":""},"correct":false,"feedback":{"fr":"","en":"A change in estimate goes through the period's profit.","es":""}},{"id":"B","text":{"fr":"","en":"The straight-line method is prohibited for vehicles whose use declines over time.","es":""},"correct":false,"feedback":{"fr":"","en":"The method depends on the pattern of consumption; it is not prohibited in principle.","es":""}},{"id":"C","text":{"fr":"","en":"The change in depreciation method is a change in estimate, applied prospectively.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"There is no error.","es":""},"correct":false,"feedback":{"fr":"","en":"The classification is wrong.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000199","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE","IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"CALCULATION","context":"V1_VG.IAS8.000008","tested_point":"VG.IAS8.000008","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §34","IAS 8 §36"],"exercise":{"prompt":{"fr":"","en":"Arvane acquired a machine for {cost} on 1 January 2023, depreciated on a straight-line basis over {initial_life} years with no residual value. At 1 January 2025, the total useful life is reduced to {revised_total_life} years. Compute 2025 depreciation under the prospective treatment, the amount an erroneous retrospective restatement would give (new life applied from the start) and the gap.","es":""},"explanation":{"fr":"","en":"The revision does not relate to prior periods (IAS 8, para. 34) and is applied prospectively (IAS 8, para. 36). Carrying amount at 1 January 2025: 120,000 − 120,000 × 2 ÷ 10 = 96,000; depreciation: 96,000 ÷ 4 = 24,000. An erroneous restatement would give 120,000 ÷ 6 = 20,000; gap: 4,000.","es":""},"common_error":{"fr":"","en":"Recomputing depreciation from the start with the new life.","es":""},"format":"CALCULATION","placeholders":[{"id":"cost","value":"120000","unit":"EUR"},{"id":"initial_life","value":"10","unit":"YEARS"},{"id":"revised_total_life","value":"6","unit":"YEARS"}],"data":[{"label":{"fr":"","en":"Acquisition cost","es":""},"value":"120000","unit":"EUR"},{"label":{"fr":"","en":"Initial useful life","es":""},"value":"10","unit":"YEARS"},{"label":{"fr":"","en":"Revised total useful life","es":""},"value":"6","unit":"YEARS"}],"steps":[{"id":"PROSPECTIVE_2025","label":{"fr":"","en":"2025 depreciation (prospective treatment)","es":""},"answer":24000,"tolerance":0,"unit":"EUR"},{"id":"RETROSPECTIVE_2025","label":{"fr":"","en":"2025 depreciation (erroneous restatement)","es":""},"answer":20000,"tolerance":0,"unit":"EUR"},{"id":"GAP","label":{"fr":"","en":"2025 depreciation gap","es":""},"answer":4000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"PROSPECTIVE_2025","meaning":{"fr":"","en":"2025 depreciation (prospective treatment)","es":""},"expression":"(a - a * 2 / b) / 4","variables":[{"symbol":"a","meaning":{"fr":"","en":"Acquisition cost","es":""},"value":120000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Initial useful life","es":""},"value":10,"unit":"YEARS"}],"result":24000,"unit":"EUR"},{"step":"RETROSPECTIVE_2025","meaning":{"fr":"","en":"2025 depreciation (erroneous restatement)","es":""},"expression":"a / b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Acquisition cost","es":""},"value":120000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Revised total useful life","es":""},"value":6,"unit":"YEARS"}],"result":20000,"unit":"EUR"}],"rationale":{"fr":"","en":"The revision does not relate to prior periods (IAS 8, para. 34) and is applied prospectively (IAS 8, para. 36).","es":""},"references":["REF.IAS8.34","REF.IAS8.36"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000200","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE","IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"CALCULATION","context":"V1_VG.IAS8.000008","tested_point":"VG.IAS8.000008","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §34","IAS 8 §36"],"exercise":{"prompt":{"fr":"","en":"To measure what a misclassification would cost, Velbor's controller compares two computations: equipment costing {cost} brought into use on 1 January 2022, expected to last {initial_life} years (straight-line, no residual value), has its total life revised to {revised_total_life} years at 1 January 2025. What is 2025 depreciation under each approach, and what is the gap?","es":""},"explanation":{"fr":"","en":"The revision does not relate to prior periods (IAS 8, para. 34) and is applied prospectively (IAS 8, para. 36). Carrying amount at 1 January 2025: 90,000 − 90,000 × 3 ÷ 9 = 60,000; depreciation: 60,000 ÷ 3 = 20,000. An erroneous restatement would give 90,000 ÷ 6 = 15,000; gap: 5,000.","es":""},"common_error":{"fr":"","en":"Recomputing depreciation from the start with the new life.","es":""},"format":"CALCULATION","placeholders":[{"id":"cost","value":"90000","unit":"EUR"},{"id":"initial_life","value":"9","unit":"YEARS"},{"id":"revised_total_life","value":"6","unit":"YEARS"}],"data":[{"label":{"fr":"","en":"Acquisition cost","es":""},"value":"90000","unit":"EUR"},{"label":{"fr":"","en":"Initial useful life","es":""},"value":"9","unit":"YEARS"},{"label":{"fr":"","en":"Revised total useful life","es":""},"value":"6","unit":"YEARS"}],"steps":[{"id":"PROSPECTIVE_2025","label":{"fr":"","en":"2025 depreciation (prospective treatment)","es":""},"answer":20000,"tolerance":0,"unit":"EUR"},{"id":"RETROSPECTIVE_2025","label":{"fr":"","en":"2025 depreciation (erroneous restatement)","es":""},"answer":15000,"tolerance":0,"unit":"EUR"},{"id":"GAP","label":{"fr":"","en":"2025 depreciation gap","es":""},"answer":5000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"PROSPECTIVE_2025","meaning":{"fr":"","en":"2025 depreciation (prospective treatment)","es":""},"expression":"(a - a * 3 / b) / 3","variables":[{"symbol":"a","meaning":{"fr":"","en":"Acquisition cost","es":""},"value":90000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Initial useful life","es":""},"value":9,"unit":"YEARS"}],"result":20000,"unit":"EUR"},{"step":"RETROSPECTIVE_2025","meaning":{"fr":"","en":"2025 depreciation (erroneous restatement)","es":""},"expression":"a / b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Acquisition cost","es":""},"value":90000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Revised total useful life","es":""},"value":6,"unit":"YEARS"}],"result":15000,"unit":"EUR"}],"rationale":{"fr":"","en":"The revision does not relate to prior periods (IAS 8, para. 34) and is applied prospectively (IAS 8, para. 36).","es":""},"references":["REF.IAS8.34","REF.IAS8.36"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000201","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE","IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000201","tested_point":"QST.IAS8.000201","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §34A","IAS 8 §36"],"exercise":{"prompt":{"fr":"","en":"Laivot updates the discount rate of a provision at the 2025 reporting date: at the previous rate, the provision would be {provision_old_rate}; at the new rate, {provision_new_rate}. What amount is recognised as a 2025 expense for this change?","es":""},"explanation":{"fr":"","en":"A change in an input is a change in estimate (IAS 8, para. 34A), recognised prospectively in the period's profit (IAS 8, para. 36): 215,000 − 200,000 = 15,000, without restating comparatives.","es":""},"common_error":{"fr":"","en":"Charging the difference to opening equity.","es":""},"format":"CALCULATION","placeholders":[{"id":"provision_old_rate","value":"200000","unit":"EUR"},{"id":"provision_new_rate","value":"215000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Provision at the previous rate","es":""},"value":"200000","unit":"EUR"},{"label":{"fr":"","en":"Provision at the new rate","es":""},"value":"215000","unit":"EUR"}],"steps":[{"id":"EXPENSE_2025","label":{"fr":"","en":"2025 expense from the change in rate","es":""},"answer":15000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"EXPENSE_2025","meaning":{"fr":"","en":"2025 expense from the change in rate","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Provision at the new rate","es":""},"value":215000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Provision at the previous rate","es":""},"value":200000,"unit":"EUR"}],"result":15000,"unit":"EUR","rationale":{"fr":"","en":"A change in an input is a change in estimate (IAS 8, para. 34A), recognised prospectively in the period's profit (IAS 8, para. 36): 215,000 − 200,000 = 15,000, without restating comparatives.","es":""}}],"references":["REF.IAS8.34A","REF.IAS8.36"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000202","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE","IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000202","tested_point":"QST.IAS8.000202","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §32","IAS 8 §34A","IAS 8 §36"],"exercise":{"prompt":{"fr":"","en":"Pomède acquired a press for {cost} on 1 January 2024, depreciated on a straight-line basis over 5 years with no residual value. At 1 January 2025, it adopts units-of-production depreciation: {remaining_units} units expected over the remaining life, of which {units_2025} produced in 2025. Compute 2025 depreciation and its increase compared with keeping straight-line.","es":""},"explanation":{"fr":"","en":"Depreciation is an estimate (IAS 8, para. 32) and a change in the depreciation method is a change in an accounting estimate (IAS 16, para. 61), applied prospectively (IAS 8, para. 36); it can also be read as a change in an estimation technique (IAS 8, para. 34A). Carrying amount: 200,000 − 40,000 = 160,000; depreciation: 160,000 × 12,000 ÷ 40,000 = 48,000; straight-line kept: 160,000 ÷ 4 = 40,000; increase: 8,000.","es":""},"common_error":{"fr":"","en":"Restating 2024 under the new method.","es":""},"format":"CALCULATION","placeholders":[{"id":"cost","value":"200000","unit":"EUR"},{"id":"remaining_units","value":"40000","unit":"UNITS"},{"id":"units_2025","value":"12000","unit":"UNITS"}],"data":[{"label":{"fr":"","en":"Acquisition cost","es":""},"value":"200000","unit":"EUR"},{"label":{"fr":"","en":"Units expected over the remaining life","es":""},"value":"40000","unit":"UNITS"},{"label":{"fr":"","en":"Units produced in 2025","es":""},"value":"12000","unit":"UNITS"}],"steps":[{"id":"DEPRECIATION_2025","label":{"fr":"","en":"2025 depreciation","es":""},"answer":48000,"tolerance":0,"unit":"EUR"},{"id":"INCREASE_VS_STRAIGHT_LINE","label":{"fr":"","en":"Increase compared with straight-line","es":""},"answer":8000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"DEPRECIATION_2025","meaning":{"fr":"","en":"2025 depreciation","es":""},"expression":"(a - b) * c / b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Acquisition cost","es":""},"value":200000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Units expected over the remaining life","es":""},"value":40000,"unit":"UNITS"},{"symbol":"c","meaning":{"fr":"","en":"Units produced in 2025","es":""},"value":12000,"unit":"UNITS"}],"result":48000,"unit":"EUR"}],"rationale":{"fr":"","en":"Depreciation is an estimate (IAS 8, para. 32) and a change in the depreciation method is a change in an accounting estimate (IAS 16, para. 61), applied prospectively (IAS 8, para. 36); it can also be read as a change in an estimation technique (IAS 8, para. 34A).","es":""},"references":["REF.IAS8.32","REF.IAS8.34A","REF.IAS8.36"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000203","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000203","tested_point":"QST.IAS8.000203","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §34A"],"exercise":{"prompt":{"fr":"","en":"Quoline measures unlisted shares at fair value. This year, observable transactions in comparable shares appear and the company replaces its discounted cash flow model with a market approach. How is the effect treated?","es":""},"explanation":{"fr":"","en":"The effects of a change in a measurement technique or inputs are changes in accounting estimates, unless they correct an error (IAS 8, para. 34A).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Change in policy: comparatives and opening equity of the earliest period presented are restated.","es":""},"correct":false,"feedback":{"fr":"","en":"The measurement basis does not change: it is not a policy.","es":""}},{"id":"B","text":{"fr":"","en":"Error correction: the previous model was inappropriate.","es":""},"correct":false,"feedback":{"fr":"","en":"The previous model relied on the data of the time.","es":""}},{"id":"C","text":{"fr":"","en":"No effect to recognise before next year.","es":""},"correct":false,"feedback":{"fr":"","en":"The effect is recognised in the period of change.","es":""}},{"id":"D","text":{"fr":"","en":"Change in estimate: effect recognised in the period, with no restatement.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000204","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000204","tested_point":"QST.IAS8.000204","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §35"],"exercise":{"prompt":{"fr":"","en":"The Fosore group used to measure its agricultural raw material inventories at cost; it decides to measure them from now on at fair value less costs to sell, as allowed by the standard applicable in its industry (context data). The finance director calls this a 'new estimate'. What do you think?","es":""},"explanation":{"fr":"","en":"A change in measurement basis is a change in accounting policy and not a change in estimate (IAS 8, para. 35). The conditions for this change then fall under the rules on changes in policies.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It is a change in estimate, because fair value is estimated.","es":""},"correct":false,"feedback":{"fr":"","en":"Estimating fair value does not change the nature of the change of basis.","es":""}},{"id":"B","text":{"fr":"","en":"It is an error correction, since cost had been inappropriate for at least several years.","es":""},"correct":false,"feedback":{"fr":"","en":"Measurement at cost was not an error.","es":""}},{"id":"C","text":{"fr":"","en":"It is a change in measurement basis, hence a change in policy.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"It is not a change within the meaning of IAS 8 at all.","es":""},"correct":false,"feedback":{"fr":"","en":"It is indeed a change within the meaning of IAS 8.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000205","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000205","tested_point":"QST.IAS8.000205","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §48","IAS 8 §34"],"exercise":{"prompt":{"fr":"","en":"At the end of 2024, Jilval provided 180,000 for a commercial dispute, based on its lawyers' advice. In 2025, a settlement ends the dispute for 120,000. The internal auditor proposes to 'correct the 2024 error'. What should be done?","es":""},"explanation":{"fr":"","en":"The gain recognised on the outcome of a contingency is not the correction of an error (IAS 8, para. 48); revising an estimate on the basis of new information does not relate to prior periods (IAS 8, para. 34).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"There is no error: the reversal of 60,000 is recognised in 2025.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"2024 must be restated to bring the provision down to 120,000.","es":""},"correct":false,"feedback":{"fr":"","en":"The provision relied on the best information of the time: no error.","es":""}},{"id":"C","text":{"fr":"","en":"The provision of 180,000 must be kept until the settlement is paid.","es":""},"correct":false,"feedback":{"fr":"","en":"The dispute is settled: the provision must be adjusted.","es":""}},{"id":"D","text":{"fr":"","en":"The reversal must be credited directly to opening 2025 equity.","es":""},"correct":false,"feedback":{"fr":"","en":"The reversal goes through the period's profit.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000206","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000206","tested_point":"QST.IAS8.000206","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §35"],"exercise":{"prompt":{"fr":"","en":"Vaindorn changes the way it allocates certain costs between inventories and expenses. The experts consulted disagree: for some, it is a new policy; for others, a revision of estimation assumptions. No analysis can settle it (case data). Which treatment should be used?","es":""},"explanation":{"fr":"","en":"When it is difficult to distinguish a change in policy from a change in estimate, the change is treated as a change in accounting estimate (IAS 8, para. 35). The finding of doubt must be documented.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The treatment chosen by most of the experts consulted, even if not justified.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard's rule prevails, not a majority of opinions.","es":""}},{"id":"B","text":{"fr":"","en":"The treatment of a change in estimate, prospective.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"An error correction, since the previous allocation is disputed.","es":""},"correct":false,"feedback":{"fr":"","en":"A difference of analysis does not establish an error.","es":""}},{"id":"D","text":{"fr":"","en":"The treatment of a change in policy, retrospective, for prudence.","es":""},"correct":false,"feedback":{"fr":"","en":"Prudence does not replace the explicit rule for doubtful cases.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000207","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000207","tested_point":"QST.IAS8.000207","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §34A"],"exercise":{"prompt":{"fr":"","en":"At the end of 2025, Puscanne revises the discount rate of its decommissioning provision to reflect market conditions at the reporting date. Last year's rate had been properly determined at the time. How is the effect treated?","es":""},"explanation":{"fr":"","en":"The effect of a change in an input is a change in accounting estimate, unless it results from the correction of an error (IAS 8, para. 34A).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As a change in estimate, in the period.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"As an event with no accounting effect.","es":""},"correct":false,"feedback":{"fr":"","en":"The effect changes the provision and must be recognised.","es":""}},{"id":"C","text":{"fr":"","en":"As a change in accounting policy.","es":""},"correct":false,"feedback":{"fr":"","en":"The policy does not change.","es":""}},{"id":"D","text":{"fr":"","en":"As a 2024 error, restating comparatives and opening equity of the earliest period presented.","es":""},"correct":false,"feedback":{"fr":"","en":"The 2024 rate was right at the time: no error.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000208","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE","IAS8.ERRORS.NATURE"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000208","tested_point":"QST.IAS8.000208","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §34A","IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"In 2025, Zainois discovers that the discount rate of its decommissioning provision had been keyed in wrongly at the end of 2024 (4% instead of 2.5%), whereas the right rate was in the file at the time. How should the correction be described?","es":""},"explanation":{"fr":"","en":"The effects of a change in an input are changes in estimates unless they result from the correction of prior period errors (IAS 8, para. 34A); here, available reliable information was misused, which is what characterises an error (IAS 8, para. 5).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As a normal revision, with no consequence for 2024.","es":""},"correct":false,"feedback":{"fr":"","en":"The correction does concern 2024.","es":""}},{"id":"B","text":{"fr":"","en":"As a change in accounting policy on discounting provisions.","es":""},"correct":false,"feedback":{"fr":"","en":"The discounting policy has not changed.","es":""}},{"id":"C","text":{"fr":"","en":"As the correction of a prior period error.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"As a change in estimate, since a rate is an input.","es":""},"correct":false,"feedback":{"fr":"","en":"A change in input is a change in estimate only if it does not correct an error.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000209","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.POLICY_VS_ESTIMATE"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000209","tested_point":"QST.IAS8.000209","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000012","section_id":"change-in-estimate"},"references":["IAS 8 §34A","IAS 8 §34"],"exercise":{"prompt":{"fr":"","en":"In 2025, Cardane refines its expected credit loss model thanks to a longer default history that became available this year. The loss allowance increases significantly. The finance director wants to split the effect between 2024 (restated) and 2025. What should he be told?","es":""},"explanation":{"fr":"","en":"A change in input or technique is a change in estimate (IAS 8, para. 34A); based on new information, it does not relate to prior periods (IAS 8, para. 34).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The effect must be charged to opening 2025 equity.","es":""},"correct":false,"feedback":{"fr":"","en":"The effect goes through the period's profit.","es":""}},{"id":"B","text":{"fr":"","en":"The whole effect belongs to 2025: it is a change in estimate based on new information.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The effect must be spread over the remaining life of the receivables.","es":""},"correct":false,"feedback":{"fr":"","en":"The effect on the loss allowance is recognised in the period of change.","es":""}},{"id":"D","text":{"fr":"","en":"The split is right: the portion relating to receivables existing in 2024 must restate comparatives.","es":""},"correct":false,"feedback":{"fr":"","en":"A revision of an estimate does not relate to prior periods.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000213","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000213","tested_point":"QST.IAS8.000213","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"profit-or-loss"},"references":["IAS 8 §36"],"exercise":{"prompt":{"fr":"","en":"Apart from specific cases, the effect of a change in accounting estimate is recognised prospectively in profit or loss.","es":""},"explanation":{"fr":"","en":"The effect of a change in estimate is recognised prospectively in profit or loss of the period of the change, and of future periods if they are also affected (IAS 8, para. 36).","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000214","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000214","tested_point":"QST.IAS8.000214","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"profit-or-loss"},"references":["IAS 8 §36"],"exercise":{"prompt":{"fr":"","en":"A change in accounting estimate requires comparatives and opening equity to be restated.","es":""},"explanation":{"fr":"","en":"The effect of a change in estimate is recognised prospectively, in profit or loss of the period of the change and, where relevant, of future periods (IAS 8, para. 36): neither comparatives nor opening equity are restated.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000215","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000215","tested_point":"QST.IAS8.000215","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"profit-or-loss"},"references":["IAS 8 §38"],"exercise":{"prompt":{"fr":"","en":"Revising the useful life of a depreciable asset changes depreciation for the current period and for each future period of its remaining useful life.","es":""},"explanation":{"fr":"","en":"A change in estimate may affect the current period and future periods: revising the useful life changes depreciation for the current period and for each future period of the remaining life (IAS 8, para. 38).","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000216","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000216","tested_point":"QST.IAS8.000216","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"profit-or-loss"},"references":["IAS 8 §36"],"exercise":{"prompt":{"fr":"","en":"A change in estimate at Gandot affects only the current period. Where is its effect recognised?","es":""},"explanation":{"fr":"","en":"The effect of a change in estimate that affects only the period of the change is recognised in that period's profit or loss (IAS 8, para. 36).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"In the profit or loss of future periods only.","es":""},"correct":false,"feedback":{"fr":"","en":"Future periods are not affected here.","es":""}},{"id":"B","text":{"fr":"","en":"In other comprehensive income, bypassing profit or loss.","es":""},"correct":false,"feedback":{"fr":"","en":"The effect goes through profit or loss.","es":""}},{"id":"C","text":{"fr":"","en":"In opening equity of the earliest period presented, after restating comparatives.","es":""},"correct":false,"feedback":{"fr":"","en":"Opening restatement does not concern estimates.","es":""}},{"id":"D","text":{"fr":"","en":"In the profit or loss of the current period.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000217","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000217","tested_point":"QST.IAS8.000217","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"profit-or-loss"},"references":["IAS 8 §37"],"exercise":{"prompt":{"fr":"","en":"Leusot's change in estimate changes a liability recognised in the statement of financial position. How is it recognised?","es":""},"explanation":{"fr":"","en":"To the extent that a change in estimate gives rise to changes in assets and liabilities, it is recognised by adjusting the carrying amount of the related asset or liability in the period of change (IAS 8, para. 37).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"By a mere disclosure in the notes, without changing the liability's carrying amount.","es":""},"correct":false,"feedback":{"fr":"","en":"The liability must be adjusted, not just described.","es":""}},{"id":"B","text":{"fr":"","en":"By adjusting the carrying amount of the liability in the period of change.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"By setting up a separate reserve within equity.","es":""},"correct":false,"feedback":{"fr":"","en":"No separate reserve is provided for.","es":""}},{"id":"D","text":{"fr":"","en":"By restating the liability in the comparatives.","es":""},"correct":false,"feedback":{"fr":"","en":"A change in estimate does not restate comparatives.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000218","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000218","tested_point":"QST.IAS8.000218","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"profit-or-loss"},"references":["IAS 8 §36","IAS 8 §38"],"exercise":{"prompt":{"fr":"","en":"At 1 January 2025, Traindore reduces the remaining useful life of its servers. Which periods does the effect of this change affect?","es":""},"explanation":{"fr":"","en":"When a change in estimate affects the period of change and future periods, it is recognised in those periods (IAS 8, para. 36); revising a useful life is such a case (IAS 8, para. 38).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Only 2024, by restating the comparative.","es":""},"correct":false,"feedback":{"fr":"","en":"A change in estimate does not restate 2024.","es":""}},{"id":"B","text":{"fr":"","en":"Only 2025, the whole effect being concentrated in the year of change.","es":""},"correct":false,"feedback":{"fr":"","en":"Depreciation of future years also changes.","es":""}},{"id":"C","text":{"fr":"","en":"2025 and each future year of the remaining useful life.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Opening 2025 equity and no future period.","es":""},"correct":false,"feedback":{"fr":"","en":"The effect goes through profit, not opening equity.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000219","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000219","tested_point":"QST.IAS8.000219","difficulty":"BEGINNER","source":"V1","format":"NUMERICAL","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"profit-or-loss"},"references":["IAS 8 §36"],"exercise":{"prompt":{"fr":"","en":"At 1 January 2025, a van of Jilvane has a carrying amount of {carrying_amount}; its remaining useful life is revised to {remaining_life} years, with no residual value. What is the annual straight-line depreciation from 2025?","es":""},"explanation":{"fr":"","en":"The change in estimate is applied prospectively (IAS 8, para. 36): the carrying amount is spread over the remaining life, 60,000 ÷ 4 = 15,000.","es":""},"format":"CALCULATION","placeholders":[{"id":"carrying_amount","value":"60000","unit":"EUR"},{"id":"remaining_life","value":"4","unit":"YEARS"}],"data":[{"label":{"fr":"","en":"Carrying amount at 1 January 2025","es":""},"value":"60000","unit":"EUR"},{"label":{"fr":"","en":"Remaining useful life","es":""},"value":"4","unit":"YEARS"}],"steps":[{"id":"ANNUAL_DEPRECIATION","label":{"fr":"","en":"Revised annual depreciation","es":""},"answer":15000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"ANNUAL_DEPRECIATION","meaning":{"fr":"","en":"Revised annual depreciation","es":""},"expression":"a / b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Carrying amount at 1 January 2025","es":""},"value":60000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Remaining useful life","es":""},"value":4,"unit":"YEARS"}],"result":15000,"unit":"EUR","rationale":{"fr":"","en":"The change in estimate is applied prospectively (IAS 8, para. 36): the carrying amount is spread over the remaining life, 60,000 ÷ 4 = 15,000.","es":""}}],"references":["REF.IAS8.36"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000220","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"CALCULATION","context":"V1_VG.IAS8.000009","tested_point":"VG.IAS8.000009","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"profit-or-loss"},"references":["IAS 8 §36","IAS 8 §38"],"exercise":{"prompt":{"fr":"","en":"Zylbane acquired a production line for {cost} on 1 January 2021, depreciated on a straight-line basis over {initial_life} years, with no residual value. At 1 January 2025, its remaining useful life is reduced to {revised_remaining_life} years. Compute the carrying amount at the date of change and 2025 depreciation.","es":""},"explanation":{"fr":"","en":"Prospective application (IAS 8, para. 36); the revision changes depreciation for 2025 and the remaining years (IAS 8, para. 38). Carrying amount: 500,000 − 500,000 × 4 ÷ 10 = 300,000; depreciation: 300,000 ÷ 4 = 75,000.","es":""},"common_error":{"fr":"","en":"Dividing cost by the new total life.","es":""},"format":"CALCULATION","placeholders":[{"id":"cost","value":"500000","unit":"EUR"},{"id":"initial_life","value":"10","unit":"YEARS"},{"id":"revised_remaining_life","value":"4","unit":"YEARS"}],"data":[{"label":{"fr":"","en":"Acquisition cost","es":""},"value":"500000","unit":"EUR"},{"label":{"fr":"","en":"Initial useful life","es":""},"value":"10","unit":"YEARS"},{"label":{"fr":"","en":"Revised remaining useful life","es":""},"value":"4","unit":"YEARS"}],"steps":[{"id":"CARRYING_AMOUNT_1_JAN_2025","label":{"fr":"","en":"Carrying amount at 1 January 2025","es":""},"answer":300000,"tolerance":0,"unit":"EUR"},{"id":"DEPRECIATION_2025","label":{"fr":"","en":"2025 depreciation","es":""},"answer":75000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"CARRYING_AMOUNT_1_JAN_2025","meaning":{"fr":"","en":"Carrying amount at 1 January 2025","es":""},"expression":"a - a * b / c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Acquisition cost","es":""},"value":500000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Revised remaining useful life","es":""},"value":4,"unit":"YEARS"},{"symbol":"c","meaning":{"fr":"","en":"Initial useful life","es":""},"value":10,"unit":"YEARS"}],"result":300000,"unit":"EUR"},{"step":"DEPRECIATION_2025","meaning":{"fr":"","en":"2025 depreciation","es":""},"expression":"a / b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Carrying amount at 1 January 2025","es":""},"value":300000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Revised remaining useful life","es":""},"value":4,"unit":"YEARS"}],"result":75000,"unit":"EUR"}],"references":["REF.IAS8.36","REF.IAS8.38"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000221","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"CALCULATION","context":"V1_VG.IAS8.000009","tested_point":"VG.IAS8.000009","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"profit-or-loss"},"references":["IAS 8 §36","IAS 8 §38"],"exercise":{"prompt":{"fr":"","en":"A forklift of Taulbine, brought into use on 1 January 2022 for {cost} and expected to last {initial_life} years (straight-line, no residual value), wears out faster than expected: at 1 January 2025, only {revised_remaining_life} years of use remain. What is its carrying amount at that date and what depreciation should be recognised for 2025?","es":""},"explanation":{"fr":"","en":"Prospective application (IAS 8, para. 36); the revision changes depreciation for 2025 and the remaining years (IAS 8, para. 38). Carrying amount: 240,000 − 240,000 × 3 ÷ 8 = 150,000; depreciation: 150,000 ÷ 3 = 50,000.","es":""},"common_error":{"fr":"","en":"Dividing cost by the new total life.","es":""},"format":"CALCULATION","placeholders":[{"id":"cost","value":"240000","unit":"EUR"},{"id":"initial_life","value":"8","unit":"YEARS"},{"id":"revised_remaining_life","value":"3","unit":"YEARS"}],"data":[{"label":{"fr":"","en":"Acquisition cost","es":""},"value":"240000","unit":"EUR"},{"label":{"fr":"","en":"Initial useful life","es":""},"value":"8","unit":"YEARS"},{"label":{"fr":"","en":"Revised remaining useful life","es":""},"value":"3","unit":"YEARS"}],"steps":[{"id":"CARRYING_AMOUNT_1_JAN_2025","label":{"fr":"","en":"Carrying amount at 1 January 2025","es":""},"answer":150000,"tolerance":0,"unit":"EUR"},{"id":"DEPRECIATION_2025","label":{"fr":"","en":"2025 depreciation","es":""},"answer":50000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"CARRYING_AMOUNT_1_JAN_2025","meaning":{"fr":"","en":"Carrying amount at 1 January 2025","es":""},"expression":"a - a * b / c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Acquisition cost","es":""},"value":240000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Revised remaining useful life","es":""},"value":3,"unit":"YEARS"},{"symbol":"c","meaning":{"fr":"","en":"Initial useful life","es":""},"value":8,"unit":"YEARS"}],"result":150000,"unit":"EUR"},{"step":"DEPRECIATION_2025","meaning":{"fr":"","en":"2025 depreciation","es":""},"expression":"a / b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Carrying amount at 1 January 2025","es":""},"value":150000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Revised remaining useful life","es":""},"value":3,"unit":"YEARS"}],"result":50000,"unit":"EUR"}],"references":["REF.IAS8.36","REF.IAS8.38"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000222","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000222","tested_point":"QST.IAS8.000222","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"profit-or-loss"},"references":["IAS 8 §36"],"exercise":{"prompt":{"fr":"","en":"Merlane acquired a machine for {cost} on 1 January 2023, depreciated on a straight-line basis over {initial_life} years with no residual value. At 1 January 2025, the remaining life is unchanged but a residual value of {revised_residual_value} is now expected. What is 2025 depreciation?","es":""},"explanation":{"fr":"","en":"Change in estimate applied prospectively (IAS 8, para. 36). Carrying amount at 1 January 2025: 180,000 − 60,000 = 120,000; remaining life 4 years; depreciation: (120,000 − 20,000) ÷ 4 = 25,000.","es":""},"format":"CALCULATION","placeholders":[{"id":"cost","value":"180000","unit":"EUR"},{"id":"initial_life","value":"6","unit":"YEARS"},{"id":"revised_residual_value","value":"20000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Acquisition cost","es":""},"value":"180000","unit":"EUR"},{"label":{"fr":"","en":"Useful life","es":""},"value":"6","unit":"YEARS"},{"label":{"fr":"","en":"Revised residual value","es":""},"value":"20000","unit":"EUR"}],"steps":[{"id":"DEPRECIATION_2025","label":{"fr":"","en":"2025 depreciation","es":""},"answer":25000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000223","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000223","tested_point":"QST.IAS8.000223","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"profit-or-loss"},"references":["IAS 8 §36","IAS 8 §38"],"exercise":{"prompt":{"fr":"","en":"Quernys acquired equipment for {cost} on 1 January 2022, depreciated on a straight-line basis over {initial_life} years with no residual value. On 1 July 2025, its remaining useful life is revised to {revised_remaining_life} years from that date. Compute the carrying amount at 1 July 2025 and total 2025 depreciation.","es":""},"explanation":{"fr":"","en":"The change applies from its date (IAS 8, para. 36; IAS 8, para. 38). First half: 96,000 ÷ 8 ÷ 2 = 6,000. Carrying amount at 1 July: 96,000 − 36,000 − 6,000 = 54,000. Second half: 54,000 ÷ 3 ÷ 2 = 9,000. Total: 15,000.","es":""},"common_error":{"fr":"","en":"Applying the new life to the whole of 2025.","es":""},"format":"CALCULATION","placeholders":[{"id":"cost","value":"96000","unit":"EUR"},{"id":"initial_life","value":"8","unit":"YEARS"},{"id":"revised_remaining_life","value":"3","unit":"YEARS"}],"data":[{"label":{"fr":"","en":"Acquisition cost","es":""},"value":"96000","unit":"EUR"},{"label":{"fr":"","en":"Initial useful life","es":""},"value":"8","unit":"YEARS"},{"label":{"fr":"","en":"Revised remaining life at 1 July 2025","es":""},"value":"3","unit":"YEARS"}],"steps":[{"id":"CARRYING_AMOUNT_1_JULY_2025","label":{"fr":"","en":"Carrying amount at 1 July 2025","es":""},"answer":54000,"tolerance":0,"unit":"EUR"},{"id":"DEPRECIATION_2025","label":{"fr":"","en":"Total 2025 depreciation","es":""},"answer":15000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000224","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000224","tested_point":"QST.IAS8.000224","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"profit-or-loss"},"references":["IAS 8 §36","IAS 8 §37"],"exercise":{"prompt":{"fr":"","en":"At the 2025 reporting date, Pilade increases its warranty provision from {provision_before} to {provision_revised}, in light of new claims. What amount is recognised as a 2025 expense?","es":""},"explanation":{"fr":"","en":"The change in estimate adjusts the liability's carrying amount in the period (IAS 8, para. 37), against the period's profit or loss (IAS 8, para. 36): 185,000 − 150,000 = 35,000.","es":""},"common_error":{"fr":"","en":"Charging the increase to opening equity.","es":""},"format":"CALCULATION","placeholders":[{"id":"provision_before","value":"150000","unit":"EUR"},{"id":"provision_revised","value":"185000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Provision before revision","es":""},"value":"150000","unit":"EUR"},{"label":{"fr":"","en":"Revised provision","es":""},"value":"185000","unit":"EUR"}],"steps":[{"id":"EXPENSE_2025","label":{"fr":"","en":"2025 expense","es":""},"answer":35000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"EXPENSE_2025","meaning":{"fr":"","en":"2025 expense","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Revised provision","es":""},"value":185000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Provision before revision","es":""},"value":150000,"unit":"EUR"}],"result":35000,"unit":"EUR","rationale":{"fr":"","en":"The change in estimate adjusts the liability's carrying amount in the period (IAS 8, para. 37), against the period's profit or loss (IAS 8, para. 36): 185,000 − 150,000 = 35,000.","es":""}}],"references":["REF.IAS8.36","REF.IAS8.37"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000225","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000225","tested_point":"QST.IAS8.000225","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"profit-or-loss"},"references":["IAS 8 §36","IAS 8 §37"],"exercise":{"prompt":{"fr":"","en":"Navarelle holds {receivables} of receivables, with a loss allowance of {previous_allowance}. New default data lead to an expected loss rate of {revised_rate_per_mille} per thousand (case data). Compute the revised loss allowance and the additional 2025 loss.","es":""},"explanation":{"fr":"","en":"The revision adjusts the asset's carrying amount in the period (IAS 8, para. 37) and its effect goes through profit or loss (IAS 8, para. 36): 800,000 × 45 ÷ 1,000 = 36,000; additional loss: 36,000 − 24,000 = 12,000.","es":""},"format":"CALCULATION","placeholders":[{"id":"receivables","value":"800000","unit":"EUR"},{"id":"previous_allowance","value":"24000","unit":"EUR"},{"id":"revised_rate_per_mille","value":"45","unit":"UNITS"}],"data":[{"label":{"fr":"","en":"Receivables","es":""},"value":"800000","unit":"EUR"},{"label":{"fr":"","en":"Previous loss allowance","es":""},"value":"24000","unit":"EUR"},{"label":{"fr":"","en":"Revised loss rate (per thousand)","es":""},"value":"45","unit":"UNITS"}],"steps":[{"id":"REVISED_ALLOWANCE","label":{"fr":"","en":"Revised loss allowance","es":""},"answer":36000,"tolerance":0,"unit":"EUR"},{"id":"ADDITIONAL_LOSS_2025","label":{"fr":"","en":"Additional 2025 loss","es":""},"answer":12000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"ADDITIONAL_LOSS_2025","meaning":{"fr":"","en":"Additional 2025 loss","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Revised loss allowance","es":""},"value":36000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Previous loss allowance","es":""},"value":24000,"unit":"EUR"}],"result":12000,"unit":"EUR"}],"rationale":{"fr":"","en":"The revision adjusts the asset's carrying amount in the period (IAS 8, para. 37) and its effect goes through profit or loss (IAS 8, para. 36): 800,000 × 45 ÷ 1,000 = 36,000","es":""},"references":["REF.IAS8.36","REF.IAS8.37"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000226","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000226","tested_point":"QST.IAS8.000226","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"profit-or-loss"},"references":["IAS 8 §36","IAS 8 §38"],"exercise":{"prompt":{"fr":"","en":"An industrial building of Quélix, acquired on 1 January 2020 for {cost} and depreciated on a straight-line basis over 10 years with no residual value, will in fact have a residual value of {revised_residual_value} (estimate revised at 1 January 2025, life unchanged). Compute the revised depreciation and the decrease in annual depreciation.","es":""},"explanation":{"fr":"","en":"Prospective change in estimate, affecting 2025 and the remaining years (IAS 8, para. 36; IAS 8, para. 38). Carrying amount: 400,000 − 200,000 = 200,000; revised depreciation: (200,000 − 50,000) ÷ 5 = 30,000; old depreciation 40,000; decrease: 10,000.","es":""},"format":"CALCULATION","placeholders":[{"id":"cost","value":"400000","unit":"EUR"},{"id":"revised_residual_value","value":"50000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Acquisition cost","es":""},"value":"400000","unit":"EUR"},{"label":{"fr":"","en":"Revised residual value","es":""},"value":"50000","unit":"EUR"}],"steps":[{"id":"REVISED_DEPRECIATION","label":{"fr":"","en":"Revised annual depreciation","es":""},"answer":30000,"tolerance":0,"unit":"EUR"},{"id":"DECREASE_IN_DEPRECIATION","label":{"fr":"","en":"Decrease in annual depreciation","es":""},"answer":10000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000232","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000232","tested_point":"QST.IAS8.000232","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"profit-or-loss"},"references":["IAS 8 §36"],"exercise":{"prompt":{"fr":"","en":"For a machine acquired 2 years ago for 120,000 (initial life 10 years), whose total life is revised to 6 years, Gandine's accountant computes the year's depreciation as follows: 120,000 ÷ 6 = 20,000. What is the error?","es":""},"explanation":{"fr":"","en":"A change in estimate is applied prospectively (IAS 8, para. 36): start from the carrying amount at the date of change (120,000 − 24,000 = 96,000) spread over the remaining 4 years, i.e. 24,000.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Depreciation must spread the remaining carrying amount over the remaining life, not cost over the total life.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The 6-year life should have been applied from the following year only.","es":""},"correct":false,"feedback":{"fr":"","en":"The change applies from the period of change.","es":""}},{"id":"C","text":{"fr":"","en":"There is no computation error.","es":""},"correct":false,"feedback":{"fr":"","en":"The computation ignores depreciation already charged.","es":""}},{"id":"D","text":{"fr":"","en":"The machine should have been impaired for the difference.","es":""},"correct":false,"feedback":{"fr":"","en":"Revising a life is not an impairment.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000233","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000233","tested_point":"QST.IAS8.000233","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"profit-or-loss"},"references":["IAS 8 §36"],"exercise":{"prompt":{"fr":"","en":"Vrynois increases a warranty provision following new claims. Its accountant charges the increase to opening retained earnings 'so as not to penalise the year'. What is the error?","es":""},"explanation":{"fr":"","en":"The effect of a change in accounting estimate is recognised prospectively in profit or loss (IAS 8, para. 36).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The increase should have been spread over the next three years.","es":""},"correct":false,"feedback":{"fr":"","en":"The period of change bears the effect relating to it.","es":""}},{"id":"B","text":{"fr":"","en":"The provision should have remained unchanged until the claims are paid.","es":""},"correct":false,"feedback":{"fr":"","en":"The provision must reflect the current best estimate.","es":""}},{"id":"C","text":{"fr":"","en":"There is no error: charging equity is allowed.","es":""},"correct":false,"feedback":{"fr":"","en":"Charging opening equity is reserved for restatements.","es":""}},{"id":"D","text":{"fr":"","en":"The effect of a change in estimate goes through the period's profit or loss.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000234","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000234","tested_point":"QST.IAS8.000234","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"profit-or-loss"},"references":["IAS 8 §37"],"exercise":{"prompt":{"fr":"","en":"Chausia reduces the estimate of a provision by 20,000. Its accountant recognises income of 20,000 but, as the other side, records a sundry receivable instead of reducing the provision. What is the error?","es":""},"explanation":{"fr":"","en":"To the extent that a change in estimate gives rise to changes in assets and liabilities, it is recognised by adjusting the carrying amount of the related asset or liability in the period (IAS 8, para. 37).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A provision can never be reduced before it is used.","es":""},"correct":false,"feedback":{"fr":"","en":"A provision is adjusted to reflect the best estimate.","es":""}},{"id":"B","text":{"fr":"","en":"There is no error: profit is correct.","es":""},"correct":false,"feedback":{"fr":"","en":"The balance sheet remains wrong: provision overstated and a fictitious receivable.","es":""}},{"id":"C","text":{"fr":"","en":"The income should have been credited directly to the year's opening equity.","es":""},"correct":false,"feedback":{"fr":"","en":"The effect goes through profit; only the other side is wrong.","es":""}},{"id":"D","text":{"fr":"","en":"The change must be recognised by adjusting the carrying amount of the provision itself.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000235","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000235","tested_point":"QST.IAS8.000235","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"profit-or-loss"},"references":["IAS 8 §36","IAS 8 §38"],"exercise":{"prompt":{"fr":"","en":"In 2025, Galvorne finds that its trucks are wearing out faster than expected and reduces their remaining useful life. Its finance director proposes three treatments. Which one should be used?","es":""},"explanation":{"fr":"","en":"The change in estimate is recognised prospectively (IAS 8, para. 36); revising the useful life changes depreciation for the current period and for each future period of the remaining life (IAS 8, para. 38).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Restate 2024 with the new life and adjust opening equity.","es":""},"correct":false,"feedback":{"fr":"","en":"A change in estimate does not restate comparatives.","es":""}},{"id":"B","text":{"fr":"","en":"Change nothing before the end of the originally expected life.","es":""},"correct":false,"feedback":{"fr":"","en":"The estimate must be revised as soon as the information is known.","es":""}},{"id":"C","text":{"fr":"","en":"Recompute depreciation from 2025 based on the carrying amount and the new remaining life.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Recognise in 2025 an exceptional charge equal to the cumulative 'missing' depreciation.","es":""},"correct":false,"feedback":{"fr":"","en":"The effect is spread over the current and future periods, with no catch-up.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000236","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000236","tested_point":"QST.IAS8.000236","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"profit-or-loss"},"references":["IAS 8 §36","IAS 8 §37"],"exercise":{"prompt":{"fr":"","en":"The loss allowance on Vrimane's receivables must increase by 45,000 at the 2025 reporting date, based on the latest default data. The finance director proposes to spread the increase over three years 'to smooth the effect'. What is the conclusion?","es":""},"explanation":{"fr":"","en":"The change in estimate is recognised by adjusting the carrying amount of the asset concerned in the period (IAS 8, para. 37), its effect being recognised in the period's profit or loss (IAS 8, para. 36).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The increase should only be recognised when defaults actually occur.","es":""},"correct":false,"feedback":{"fr":"","en":"The loss allowance reflects expected losses at the reporting date.","es":""}},{"id":"B","text":{"fr":"","en":"The loss allowance is adjusted in 2025 and the whole effect goes through 2025 profit or loss.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The increase must be charged to opening 2025 equity, bypassing profit or loss.","es":""},"correct":false,"feedback":{"fr":"","en":"A change in estimate goes through profit or loss.","es":""}},{"id":"D","text":{"fr":"","en":"Spreading over three years is acceptable if disclosed in the notes.","es":""},"correct":false,"feedback":{"fr":"","en":"A disclosure does not allow the effect to be deferred.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000237","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.PROSPECTIVE_RECOGNITION"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000237","tested_point":"QST.IAS8.000237","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"profit-or-loss"},"references":["IAS 8 §38"],"exercise":{"prompt":{"fr":"","en":"Ravelline finds that the economic benefits of its packaging machines are now consumed faster early in the remaining life. It revises the expected pattern of consumption at 1 January 2025. Which depreciation charges are affected?","es":""},"explanation":{"fr":"","en":"Revising the expected pattern of consumption of the economic benefits of a depreciable asset changes the depreciation for the current period and for each future period of its remaining useful life (IAS 8, para. 38).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The 2025 charge and those of each future year of the remaining useful life.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Only the charges for years after 2025.","es":""},"correct":false,"feedback":{"fr":"","en":"The 2025 charge also changes.","es":""}},{"id":"C","text":{"fr":"","en":"Only the 2025 charge.","es":""},"correct":false,"feedback":{"fr":"","en":"Future charges also change.","es":""}},{"id":"D","text":{"fr":"","en":"The 2024 and 2025 charges, by restatement.","es":""},"correct":false,"feedback":{"fr":"","en":"2024 is not restated.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000238","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000238","tested_point":"QST.IAS8.000238","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"disclosure"},"references":["IAS 8 §39"],"exercise":{"prompt":{"fr":"","en":"An entity discloses the nature and amount of a change in accounting estimate that has an effect in the current period.","es":""},"explanation":{"fr":"","en":"The entity discloses the nature and amount of a change in estimate that affects the current period or is expected to affect future periods, except, for the latter, when impracticable (IAS 8, para. 39).","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000239","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000239","tested_point":"QST.IAS8.000239","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"disclosure"},"references":["IAS 8 §40"],"exercise":{"prompt":{"fr":"","en":"When the future effect of a change in estimate cannot be estimated, the entity has nothing to disclose about it.","es":""},"explanation":{"fr":"","en":"When the amount of the effect on future periods is not disclosed because estimating it is impracticable, the entity discloses that fact (IAS 8, para. 40).","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000240","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000240","tested_point":"QST.IAS8.000240","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"disclosure"},"references":["IAS 8 §39"],"exercise":{"prompt":{"fr":"","en":"Vadorne revises the useful life of its vehicles in 2025. What must it disclose in its notes?","es":""},"explanation":{"fr":"","en":"The entity discloses the nature and amount of a change in estimate that affects the current period or is expected to affect future periods, except when impracticable for the latter (IAS 8, para. 39).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The name of the expert who recommended the revision and the cost of the engagement.","es":""},"correct":false,"feedback":{"fr":"","en":"This disclosure is not required.","es":""}},{"id":"B","text":{"fr":"","en":"The restatement of the 2024 comparatives.","es":""},"correct":false,"feedback":{"fr":"","en":"A change in estimate does not restate comparatives.","es":""}},{"id":"C","text":{"fr":"","en":"The nature of the change and its amount for 2025 and, unless impracticable, for future periods.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Only the fact that an estimate was revised, with no amount and no detail of its nature.","es":""},"correct":false,"feedback":{"fr":"","en":"The amount is required.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000241","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000241","tested_point":"QST.IAS8.000241","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"disclosure"},"references":["IAS 8 §40","IAS 8 §39"],"exercise":{"prompt":{"fr":"","en":"Geuline cannot estimate the effect of a change in estimate on future years, for lack of reliable data. What must it do?","es":""},"explanation":{"fr":"","en":"The nature and amount of the effect on the current period are disclosed (IAS 8, para. 39); when the future effect is not disclosed because it cannot be estimated, the entity discloses that fact (IAS 8, para. 40).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Disclose nothing, for lack of a reliable amount.","es":""},"correct":false,"feedback":{"fr":"","en":"The current effect and the impracticability must be disclosed.","es":""}},{"id":"B","text":{"fr":"","en":"Disclose a lump-sum future amount to complete the note.","es":""},"correct":false,"feedback":{"fr":"","en":"An unsupported lump sum is not reliable information.","es":""}},{"id":"C","text":{"fr":"","en":"Delay the change in estimate until the data are available.","es":""},"correct":false,"feedback":{"fr":"","en":"The change is not delayed for disclosure reasons.","es":""}},{"id":"D","text":{"fr":"","en":"Disclose the effect on the current period and state that estimating the future effect is impracticable.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000242","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000242","tested_point":"QST.IAS8.000242","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"disclosure"},"references":["IAS 8 §39"],"exercise":{"prompt":{"fr":"","en":"After revising the useful life, the 2025 depreciation of an item of equipment at Faudane rises from 24,000 to 32,000. Which amount is the effect of the change in estimate to be disclosed for 2025?","es":""},"explanation":{"fr":"","en":"The entity discloses the amount of the change in estimate affecting the period (IAS 8, para. 39), that is the effect of the change: 32,000 − 24,000 = 8,000.","es":""},"common_error":{"fr":"","en":"Disclosing total depreciation instead of the effect of the change.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"56,000, the sum of the two charges.","es":""},"correct":false,"feedback":{"fr":"","en":"Adding the two charges makes no sense.","es":""}},{"id":"B","text":{"fr":"","en":"8,000, the difference between new and old depreciation.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"32,000, the new total depreciation.","es":""},"correct":false,"feedback":{"fr":"","en":"Total depreciation is not the effect of the change.","es":""}},{"id":"D","text":{"fr":"","en":"24,000, the old depreciation.","es":""},"correct":false,"feedback":{"fr":"","en":"The old depreciation is not the effect of the change.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000243","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DISCLOSURE"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000243","tested_point":"QST.IAS8.000243","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"disclosure"},"references":["IAS 8 §39"],"exercise":{"prompt":{"fr":"","en":"Following a revision of useful life, the annual depreciation of an asset at Tarnaise rises from {old_depreciation} to {new_depreciation} from 2025; the difference will recur over the following {next_years} years. Compute the effect on 2025 to be disclosed and the expected cumulative effect on those future years.","es":""},"explanation":{"fr":"","en":"The entity discloses the amount of the effect on the current period and the expected effect on future periods (IAS 8, para. 39): 18,000 − 15,000 = 3,000 for 2025; 3,000 × 4 = 12,000 for the following years.","es":""},"format":"CALCULATION","placeholders":[{"id":"old_depreciation","value":"15000","unit":"EUR"},{"id":"new_depreciation","value":"18000","unit":"EUR"},{"id":"next_years","value":"4","unit":"YEARS"}],"data":[{"label":{"fr":"","en":"Annual depreciation before revision","es":""},"value":"15000","unit":"EUR"},{"label":{"fr":"","en":"Revised annual depreciation","es":""},"value":"18000","unit":"EUR"},{"label":{"fr":"","en":"Future years affected","es":""},"value":"4","unit":"YEARS"}],"steps":[{"id":"CURRENT_PERIOD_EFFECT","label":{"fr":"","en":"Effect on 2025","es":""},"answer":3000,"tolerance":0,"unit":"EUR"},{"id":"EFFECT_NEXT_YEARS","label":{"fr":"","en":"Expected effect on future years","es":""},"answer":12000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"CURRENT_PERIOD_EFFECT","meaning":{"fr":"","en":"Effect on 2025","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Revised annual depreciation","es":""},"value":18000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Annual depreciation before revision","es":""},"value":15000,"unit":"EUR"}],"result":3000,"unit":"EUR","rationale":{"fr":"","en":"The entity discloses the amount of the effect on the current period and the expected effect on future periods (IAS 8, para. 39): 18,000 − 15,000 = 3,000 for 2025","es":""}},{"step":"EFFECT_NEXT_YEARS","meaning":{"fr":"","en":"Expected effect on future years","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Effect on 2025","es":""},"value":3000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Future years affected","es":""},"value":4,"unit":"YEARS"}],"result":12000,"unit":"EUR"}],"references":["REF.IAS8.39"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000244","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DISCLOSURE"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000244","tested_point":"QST.IAS8.000244","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"disclosure"},"references":["IAS 8 §39"],"exercise":{"prompt":{"fr":"","en":"At 1 January 2025, an item of equipment at Brevaine has a carrying amount of {carrying_amount}. Its remaining useful life, so far estimated at {old_remaining_life} years, is revised to {new_remaining_life} years (straight-line, no residual value). What amount of the effect of the change on 2025 must be disclosed?","es":""},"explanation":{"fr":"","en":"The amount of the change affecting the period is disclosed (IAS 8, para. 39): 90,000 ÷ 5 − 90,000 ÷ 6 = 18,000 − 15,000 = 3,000.","es":""},"format":"CALCULATION","placeholders":[{"id":"carrying_amount","value":"90000","unit":"EUR"},{"id":"old_remaining_life","value":"6","unit":"YEARS"},{"id":"new_remaining_life","value":"5","unit":"YEARS"}],"data":[{"label":{"fr":"","en":"Carrying amount at 1 January 2025","es":""},"value":"90000","unit":"EUR"},{"label":{"fr":"","en":"Previous remaining life","es":""},"value":"6","unit":"YEARS"},{"label":{"fr":"","en":"Revised remaining life","es":""},"value":"5","unit":"YEARS"}],"steps":[{"id":"CURRENT_PERIOD_EFFECT","label":{"fr":"","en":"Effect on 2025","es":""},"answer":3000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"CURRENT_PERIOD_EFFECT","meaning":{"fr":"","en":"Effect on 2025","es":""},"expression":"a / b - a / c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Carrying amount at 1 January 2025","es":""},"value":90000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Revised remaining life","es":""},"value":5,"unit":"YEARS"},{"symbol":"c","meaning":{"fr":"","en":"Previous remaining life","es":""},"value":6,"unit":"YEARS"}],"result":3000,"unit":"EUR","rationale":{"fr":"","en":"The amount of the change affecting the period is disclosed (IAS 8, para. 39): 90,000 ÷ 5 − 90,000 ÷ 6 = 18,000 − 15,000 = 3,000.","es":""}}],"references":["REF.IAS8.39"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000245","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DISCLOSURE"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000245","tested_point":"QST.IAS8.000245","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"disclosure"},"references":["IAS 8 §39"],"exercise":{"prompt":{"fr":"","en":"In 2025, Selvorne increases its restoration provision from {provision_before} to {provision_after}, following a revision of expected costs. What amount of the change in estimate should be disclosed in the notes?","es":""},"explanation":{"fr":"","en":"The entity discloses the nature and amount of the change in estimate (IAS 8, para. 39): 82,000 − 64,000 = 18,000.","es":""},"format":"CALCULATION","placeholders":[{"id":"provision_before","value":"64000","unit":"EUR"},{"id":"provision_after","value":"82000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Provision before revision","es":""},"value":"64000","unit":"EUR"},{"label":{"fr":"","en":"Provision after revision","es":""},"value":"82000","unit":"EUR"}],"steps":[{"id":"AMOUNT_TO_DISCLOSE","label":{"fr":"","en":"Amount of the change to disclose","es":""},"answer":18000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"AMOUNT_TO_DISCLOSE","meaning":{"fr":"","en":"Amount of the change to disclose","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Provision after revision","es":""},"value":82000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Provision before revision","es":""},"value":64000,"unit":"EUR"}],"result":18000,"unit":"EUR","rationale":{"fr":"","en":"The entity discloses the nature and amount of the change in estimate (IAS 8, para. 39): 82,000 − 64,000 = 18,000.","es":""}}],"references":["REF.IAS8.39"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000246","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DISCLOSURE"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000246","tested_point":"QST.IAS8.000246","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"disclosure"},"references":["IAS 8 §39","IAS 8 §40"],"exercise":{"prompt":{"fr":"","en":"Zorlane's note on revising the useful life of its machines says: 'Effect on 2025: additional charge of 40,000.' The future effect could be estimated. What is missing?","es":""},"explanation":{"fr":"","en":"The entity discloses the nature and amount of a change that affects the current period or is expected to affect future periods (IAS 8, para. 39); only impracticability, which must be stated, exempts the future amount (IAS 8, para. 40).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The expected effect on future periods is not disclosed.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Nothing: the effect on 2025 is enough.","es":""},"correct":false,"feedback":{"fr":"","en":"The expected effect on future periods is part of the disclosure.","es":""}},{"id":"C","text":{"fr":"","en":"The note should not disclose any amount.","es":""},"correct":false,"feedback":{"fr":"","en":"The amount is required.","es":""}},{"id":"D","text":{"fr":"","en":"The note should present 2024 comparatives restated using the new useful life.","es":""},"correct":false,"feedback":{"fr":"","en":"A change in estimate does not restate 2024.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000247","standard_id":"IAS8","concept_ids":["IAS8.ESTIMATES.DISCLOSURE"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000247","tested_point":"QST.IAS8.000247","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000013","section_id":"disclosure"},"references":["IAS 8 §39"],"exercise":{"prompt":{"fr":"","en":"Grenvale revised the residual value of its aircraft, which reduces 2025 depreciation from 300,000 to 260,000. The note says: 'Change in estimate: depreciation of 260,000.' What is the error?","es":""},"explanation":{"fr":"","en":"The entity discloses the nature and amount of the change in estimate (IAS 8, para. 39), i.e. its effect: 300,000 − 260,000 = 40,000 in 2025, together with the expected effect on future periods.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The change should have been presented as a change in accounting policy in the notes.","es":""},"correct":false,"feedback":{"fr":"","en":"Revising a residual value is a change in estimate.","es":""}},{"id":"B","text":{"fr":"","en":"Revising a residual value requires no disclosure.","es":""},"correct":false,"feedback":{"fr":"","en":"The change in estimate must be disclosed.","es":""}},{"id":"C","text":{"fr":"","en":"The note shows total depreciation instead of the amount of the change (40,000) and its future effect.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"There is no error.","es":""},"correct":false,"feedback":{"fr":"","en":"The amount shown is not that of the change.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000248","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000248","tested_point":"QST.IAS8.000248","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"error-scope"},"references":["IAS 8 §41"],"exercise":{"prompt":{"fr":"","en":"An error may affect the recognition, measurement, presentation or disclosure of elements of financial statements.","es":""},"explanation":{"fr":"","en":"Errors can arise in recognition, measurement, presentation or disclosure (IAS 8, para. 41).","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000249","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000249","tested_point":"QST.IAS8.000249","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"error-scope"},"references":["IAS 8 §41"],"exercise":{"prompt":{"fr":"","en":"Financial statements containing immaterial errors made intentionally to achieve a particular presentation still comply with IFRSs.","es":""},"explanation":{"fr":"","en":"Financial statements do not comply with IFRSs if they contain material errors, or immaterial errors made intentionally to achieve a particular presentation (IAS 8, para. 41).","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000250","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000250","tested_point":"QST.IAS8.000250","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"error-scope"},"references":["IAS 8 §41"],"exercise":{"prompt":{"fr":"","en":"A current period error discovered during that same period is corrected before the financial statements are authorised for issue.","es":""},"explanation":{"fr":"","en":"Current period errors discovered in that period are corrected before the financial statements are authorised for issue; only material errors discovered later are corrected in the comparative information of the following period (IAS 8, para. 41).","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000251","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000251","tested_point":"QST.IAS8.000251","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"error-scope"},"references":["IAS 8 §48"],"exercise":{"prompt":{"fr":"","en":"The gain recognised on the favourable outcome of a lawsuit, which the entity had provided for using the best information of the time, is the correction of an error.","es":""},"explanation":{"fr":"","en":"The gain or loss recognised on the outcome of a contingency is not the correction of an error; estimates are approximations open to revision (IAS 8, para. 48).","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000252","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000252","tested_point":"QST.IAS8.000252","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"error-scope"},"references":["IAS 8 §41"],"exercise":{"prompt":{"fr":"","en":"Is classifying a long-term loan as a current liability in Kaistane's 2024 financial statements, the amounts being right, an error within IAS 8?","es":""},"explanation":{"fr":"","en":"Errors can arise in recognition, measurement, presentation or disclosure (IAS 8, para. 41); whether the error is material will determine its treatment.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No: a classification is a choice of accounting policy.","es":""},"correct":false,"feedback":{"fr":"","en":"A wrong classification is not a policy choice.","es":""}},{"id":"B","text":{"fr":"","en":"Yes: an error may concern presentation.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Yes, but only if the loan was repaid early.","es":""},"correct":false,"feedback":{"fr":"","en":"Early repayment is not the condition.","es":""}},{"id":"D","text":{"fr":"","en":"No: only errors in amounts are errors within IAS 8.","es":""},"correct":false,"feedback":{"fr":"","en":"Errors are not limited to amounts.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000253","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000253","tested_point":"QST.IAS8.000253","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"error-scope"},"references":["IAS 8 §41"],"exercise":{"prompt":{"fr":"","en":"A material error in Nyrnade's 2024 financial statements is discovered in June 2025, after they were issued. Where is it corrected?","es":""},"explanation":{"fr":"","en":"Material errors discovered after the period are corrected in the comparative information presented in the financial statements for the following period (IAS 8, para. 41).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"By reissuing the 2024 financial statements only.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard provides for correction in the comparatives of the following period.","es":""}},{"id":"B","text":{"fr":"","en":"It is not corrected, since the 2024 accounts are approved.","es":""},"correct":false,"feedback":{"fr":"","en":"A material error must be corrected.","es":""}},{"id":"C","text":{"fr":"","en":"In 2025 profit, on a separate line of the income statement.","es":""},"correct":false,"feedback":{"fr":"","en":"The correction is not recognised in 2025 profit.","es":""}},{"id":"D","text":{"fr":"","en":"In the comparative information of the 2025 financial statements.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000254","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000254","tested_point":"QST.IAS8.000254","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"error-scope"},"references":["IAS 8 §41"],"exercise":{"prompt":{"fr":"","en":"In which case do financial statements fail to comply with IFRSs because of errors?","es":""},"explanation":{"fr":"","en":"Financial statements do not comply with IFRSs if they contain material errors, or immaterial errors made intentionally to achieve a particular presentation (IAS 8, para. 41).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"When they contain material errors, or immaterial errors made intentionally to achieve a particular presentation.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"As soon as they contain an error, even an immaterial and unintentional one.","es":""},"correct":false,"feedback":{"fr":"","en":"An immaterial, unintentional error does not cause non-compliance.","es":""}},{"id":"C","text":{"fr":"","en":"Only when the auditor has issued an adverse opinion.","es":""},"correct":false,"feedback":{"fr":"","en":"The auditor's opinion is not the test.","es":""}},{"id":"D","text":{"fr":"","en":"Only in the case of proven fraud.","es":""},"correct":false,"feedback":{"fr":"","en":"Material non-fraudulent errors are enough.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000255","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000255","tested_point":"QST.IAS8.000255","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"error-scope"},"references":["IAS 8 §48"],"exercise":{"prompt":{"fr":"","en":"Why is revising an accounting estimate not, in itself, the correction of an error?","es":""},"explanation":{"fr":"","en":"Corrections of errors are distinguished from changes in estimates: estimates are by nature approximations that may need revision as additional information becomes known (IAS 8, para. 48).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Because estimates do not appear in financial statements.","es":""},"correct":false,"feedback":{"fr":"","en":"Estimates are amounts in the financial statements.","es":""}},{"id":"B","text":{"fr":"","en":"Because any revision is charged directly to equity, bypassing profit or loss.","es":""},"correct":false,"feedback":{"fr":"","en":"A revision of an estimate goes through profit or loss.","es":""}},{"id":"C","text":{"fr":"","en":"Because estimates are management's business and fall outside IAS 8.","es":""},"correct":false,"feedback":{"fr":"","en":"Estimates do fall under IAS 8.","es":""}},{"id":"D","text":{"fr":"","en":"Because an estimate is by nature an approximation that may need revision as additional information becomes known.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000256","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000256","tested_point":"QST.IAS8.000256","difficulty":"BEGINNER","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"error-scope"},"references":["IAS 8 §41"],"exercise":{"prompt":{"fr":"","en":"In which areas can an error arise under IAS 8?","es":""},"explanation":{"fr":"","en":"Errors can arise in recognition, measurement, presentation or disclosure (IAS 8, para. 41).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The recognition of an element.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Only consolidated financial statements.","es":""},"correct":false,"feedback":{"fr":"","en":"Errors concern all financial statements.","es":""}},{"id":"C","text":{"fr":"","en":"The measurement of an element.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The presentation of an element.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The disclosure of an element.","es":""},"correct":true},{"id":"F","text":{"fr":"","en":"Only the computation of current tax.","es":""},"correct":false,"feedback":{"fr":"","en":"Errors are not limited to tax.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000257","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000257","tested_point":"QST.IAS8.000257","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"error-scope"},"references":["IAS 8 §5","IAS 8 §48"],"exercise":{"prompt":{"fr":"","en":"When finalising Clirvane's 2025 accounts, which of these situations are prior period errors?","es":""},"explanation":{"fr":"","en":"A prior period error results from the failure to use, or the misuse of, reliable information available when the statements were authorised (IAS 8, para. 5); the outcome of a contingency and the revision of an estimate are not errors (IAS 8, para. 48).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Inventory counted twice at the end of 2024, although the count sheets were available.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"A December 2024 sale recorded in 2025 despite a delivery note dated 2024.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"A 2024 litigation provision settled in 2025 for a different amount.","es":""},"correct":false,"feedback":{"fr":"","en":"This is the outcome of a contingency, not an error.","es":""}},{"id":"D","text":{"fr":"","en":"A 2024 trade payable omitted although the invoice was received before the accounts were finalised.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"An increase in 2025 of a warranty provision following new claims.","es":""},"correct":false,"feedback":{"fr":"","en":"This is a revision of an estimate.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000258","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000258","tested_point":"QST.IAS8.000258","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"error-scope"},"references":["IAS 8 §41"],"exercise":{"prompt":{"fr":"","en":"Which statements about the treatment of errors are correct?","es":""},"explanation":{"fr":"","en":"Current period errors are corrected before authorisation for issue; material errors discovered later are corrected in the comparative information of the following period; an intentional immaterial error makes the statements non-compliant (IAS 8, para. 41).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A material 2024 error discovered after issue is corrected in the comparatives of the 2025 financial statements.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"A presentation error is never an error within IAS 8.","es":""},"correct":false,"feedback":{"fr":"","en":"Presentation is one of the areas in which an error may arise.","es":""}},{"id":"C","text":{"fr":"","en":"An immaterial error may be kept if it helps meet a covenant.","es":""},"correct":false,"feedback":{"fr":"","en":"An intentional error aimed at a particular presentation makes the statements non-compliant.","es":""}},{"id":"D","text":{"fr":"","en":"A material 2024 error discovered after issue is corrected in 2025 profit.","es":""},"correct":false,"feedback":{"fr":"","en":"Correction is made in the comparatives, not in 2025 profit.","es":""}},{"id":"E","text":{"fr":"","en":"A 2025 error discovered in November 2025 is corrected in the 2025 financial statements before they are issued.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000259","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000259","tested_point":"QST.IAS8.000259","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"error-scope"},"references":["IAS 8 §41"],"exercise":{"prompt":{"fr":"","en":"On 10 February 2026, before the 2025 accounts are finalised, Drolbane discovers a computation error in its 2025 provisions. The accountant writes: 'We will correct it next year in the comparatives.' What is wrong with this reasoning?","es":""},"explanation":{"fr":"","en":"Current period errors discovered in that period are corrected before the financial statements are authorised for issue (IAS 8, para. 41).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It should have been corrected in the 2024 accounts.","es":""},"correct":false,"feedback":{"fr":"","en":"The error concerns 2025, not 2024.","es":""}},{"id":"B","text":{"fr":"","en":"A current period error discovered before authorisation for issue is corrected in that period's financial statements.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"A computation error must never be corrected.","es":""},"correct":false,"feedback":{"fr":"","en":"Errors are corrected.","es":""}},{"id":"D","text":{"fr":"","en":"Nothing is wrong with the reasoning.","es":""},"correct":false,"feedback":{"fr":"","en":"Deferred correction applies only to errors discovered after issue.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000260","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000260","tested_point":"QST.IAS8.000260","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"error-scope"},"references":["IAS 8 §41"],"exercise":{"prompt":{"fr":"","en":"Internal note at Gandore: 'The deliberate error of 8,000 on accrued expenses lets us report a profit; it is immaterial, so it has no consequence for compliance.' Where is the mistake?","es":""},"explanation":{"fr":"","en":"Financial statements do not comply if they contain immaterial errors made intentionally to achieve a particular presentation (IAS 8, para. 41).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"An immaterial error made intentionally to achieve a particular presentation makes the statements non-compliant.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"There is no mistake: only the amount matters.","es":""},"correct":false,"feedback":{"fr":"","en":"Intent matters as much as amount.","es":""}},{"id":"C","text":{"fr":"","en":"An amount of 8,000 is always material.","es":""},"correct":false,"feedback":{"fr":"","en":"Materiality depends on context; that is not the point here.","es":""}},{"id":"D","text":{"fr":"","en":"The error should have been corrected in the following year's comparatives.","es":""},"correct":false,"feedback":{"fr":"","en":"A current period error is corrected before issue.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000261","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000261","tested_point":"QST.IAS8.000261","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"error-scope"},"references":["IAS 8 §48"],"exercise":{"prompt":{"fr":"","en":"At the end of 2024, Kelvorne provided 400,000 for a lawsuit, based on its advisers' opinion. The lawsuit ends in 2025 with an award of 520,000 against it. The controller restates 2024 'to correct the provision error'. Where is the mistake?","es":""},"explanation":{"fr":"","en":"The gain or loss recognised on the outcome of a contingency is not the correction of an error (IAS 8, para. 48).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The difference should have been charged to 2025 equity.","es":""},"correct":false,"feedback":{"fr":"","en":"The difference goes through 2025 profit.","es":""}},{"id":"B","text":{"fr":"","en":"The provision should have been 520,000 as early as 2024, which justifies restating comparatives.","es":""},"correct":false,"feedback":{"fr":"","en":"The final amount was not known in 2024.","es":""}},{"id":"C","text":{"fr":"","en":"The outcome of a contingency is not the correction of an error: the difference belongs to 2025.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"There is no treatment error.","es":""},"correct":false,"feedback":{"fr":"","en":"The restatement is unjustified.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000262","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000262","tested_point":"QST.IAS8.000262","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"error-scope"},"references":["IAS 8 §41"],"exercise":{"prompt":{"fr":"","en":"Kyrnine's 2024 accounts presented significant finance costs within operating expenses; net profit was right. The finance director says: 'Since profit is right, this is not an error.' What is the flaw?","es":""},"explanation":{"fr":"","en":"Errors can arise in recognition, measurement, presentation or disclosure (IAS 8, para. 41).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Net profit was necessarily wrong.","es":""},"correct":false,"feedback":{"fr":"","en":"The classification does not affect net profit.","es":""}},{"id":"B","text":{"fr":"","en":"An error may concern presentation, even if profit is right.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"There is no flaw.","es":""},"correct":false,"feedback":{"fr":"","en":"The reasoning ignores presentation errors.","es":""}},{"id":"D","text":{"fr":"","en":"Finance costs must never appear in the income statement.","es":""},"correct":false,"feedback":{"fr":"","en":"Finance costs do appear in the income statement.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000263","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"APPLICATION","context":"V1_VG.IAS8.000011","tested_point":"VG.IAS8.000011","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"error-scope"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"In March 2025, Pomvane realises that an entire warehouse was left out of the physical count at the end of 2024; the stock lists for that warehouse existed. How should this be described?","es":""},"explanation":{"fr":"","en":"A prior period error results from the failure to use reliable information available when the statements were authorised; oversights are among them (IAS 8, para. 5).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A change in accounting estimate.","es":""},"correct":false,"feedback":{"fr":"","en":"Nothing was estimated: inventory was forgotten.","es":""}},{"id":"B","text":{"fr":"","en":"A change in accounting policy.","es":""},"correct":false,"feedback":{"fr":"","en":"No policy has changed.","es":""}},{"id":"C","text":{"fr":"","en":"A later event unrelated to the 2024 accounts.","es":""},"correct":false,"feedback":{"fr":"","en":"The situation does concern the 2024 accounts.","es":""}},{"id":"D","text":{"fr":"","en":"A prior period error.","es":""},"correct":true}]},"scope":"CORE_STUDENT","reserve":true},{"key":"QST.IAS8.000264","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"APPLICATION","context":"V1_VG.IAS8.000011","tested_point":"VG.IAS8.000011","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"error-scope"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"In 2025, Brelvane's legal department rereads a contract signed in 2024: a clause, misread when the 2024 accounts were finalised, required Brelvane to pay a rebate back to the customer. The contract text was available. How should the situation be described?","es":""},"explanation":{"fr":"","en":"Prior period errors include, among others, misinterpretations of facts concerning reliable information available when the statements were authorised (IAS 8, para. 5).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A prior period error due to a misinterpretation of facts.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The outcome of a contingency, unrelated to an error.","es":""},"correct":false,"feedback":{"fr":"","en":"The obligation arose from the contract, known at the time.","es":""}},{"id":"C","text":{"fr":"","en":"A change in the accounting policy for recognising rebates granted to customers.","es":""},"correct":false,"feedback":{"fr":"","en":"No policy has changed.","es":""}},{"id":"D","text":{"fr":"","en":"A change in estimate based on new information.","es":""},"correct":false,"feedback":{"fr":"","en":"The contract is not new information.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000265","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000265","tested_point":"QST.IAS8.000265","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"error-scope"},"references":["IAS 8 §5","IAS 8 §41"],"exercise":{"prompt":{"fr":"","en":"In 2025, Fargane discovers that an employee had recorded material fictitious receivables in 2024 to hide a misappropriation. Which treatment applies in the 2025 financial statements?","es":""},"explanation":{"fr":"","en":"Fraud is among prior period errors (IAS 8, para. 5); a material error discovered after issue is corrected in the comparative information of the following period (IAS 8, para. 41).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Recognise a loss in 2025 profit for the year of discovery.","es":""},"correct":false,"feedback":{"fr":"","en":"The 2024 error is not corrected in 2025 profit.","es":""}},{"id":"B","text":{"fr":"","en":"Wait for the outcome of the criminal proceedings before any correction.","es":""},"correct":false,"feedback":{"fr":"","en":"The correction does not depend on the criminal proceedings.","es":""}},{"id":"C","text":{"fr":"","en":"Correct the error in the 2024 comparative information.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Mention the fraud in the notes without correcting the comparative amounts, already issued.","es":""},"correct":false,"feedback":{"fr":"","en":"A material error calls for the amounts to be corrected.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000266","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000266","tested_point":"QST.IAS8.000266","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"error-scope"},"references":["IAS 8 §41"],"exercise":{"prompt":{"fr":"","en":"In October 2025, Quivane finds that a May 2025 invoice was recorded twice. The 2025 accounts have not yet been finalised. The controller wants to treat the difference as a prior period error in the 2026 accounts. What should be done?","es":""},"explanation":{"fr":"","en":"Current period errors discovered in that period are corrected before the financial statements are authorised for issue (IAS 8, para. 41).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"There is nothing to correct, since the difference reverses next year.","es":""},"correct":false,"feedback":{"fr":"","en":"An error does not cancel itself out.","es":""}},{"id":"B","text":{"fr":"","en":"It is a current period error, corrected in the 2025 financial statements before they are issued.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"It is a change in estimate to be dealt with prospectively.","es":""},"correct":false,"feedback":{"fr":"","en":"A double posting is not an estimate.","es":""}},{"id":"D","text":{"fr":"","en":"It is a prior period error, to be corrected in the 2026 comparatives.","es":""},"correct":false,"feedback":{"fr":"","en":"The error does not predate the financial statements being prepared.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000267","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000267","tested_point":"QST.IAS8.000267","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"error-scope"},"references":["IAS 8 §48"],"exercise":{"prompt":{"fr":"","en":"At the end of 2024, Drurgade had estimated, with reliable data, a warranty liability of 75,000. In 2025, actual claims lead it to increase it to 95,000. The finance director hesitates between error and estimate. What should be concluded?","es":""},"explanation":{"fr":"","en":"Accounting estimates are by nature approximations that may need revision as additional information becomes known; their revision is not an error correction (IAS 8, para. 48).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A change in accounting policy on warranties, to be applied retrospectively to 2024.","es":""},"correct":false,"feedback":{"fr":"","en":"The policy has not changed.","es":""}},{"id":"B","text":{"fr":"","en":"A 2024 error, to be corrected by restating comparatives.","es":""},"correct":false,"feedback":{"fr":"","en":"The 2024 estimate relied on reliable data.","es":""}},{"id":"C","text":{"fr":"","en":"A revision of an estimate, recognised in 2025, not an error.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"An error, if the difference exceeds 10% of the initial liability.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard sets no threshold of that kind.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000268","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.NATURE"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000268","tested_point":"QST.IAS8.000268","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000014","section_id":"error-scope"},"references":["IAS 8 §41","IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"In 2025, Gelvane discovers a 2024 error whose amount is small relative to its aggregates, but which took 2024 profit above the threshold of a bonus plan (case data). How should it be approached?","es":""},"explanation":{"fr":"","en":"Material errors discovered after issue are corrected in the comparatives (IAS 8, para. 41); 'material' is used as defined in IAS 1 (IAS 8, para. 5; wording before IFRS 18). The effect on the bonus plan is a qualitative factor to be weighed (professional judgement).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Assess its materiality taking this qualitative context into account, and correct it in the comparatives if material.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Correct it in 2025 profit.","es":""},"correct":false,"feedback":{"fr":"","en":"A 2024 error is not corrected in 2025 profit.","es":""}},{"id":"C","text":{"fr":"","en":"Treat it as immaterial on the basis of its amount alone, with no further review.","es":""},"correct":false,"feedback":{"fr":"","en":"The assessment does not rest on the amount alone.","es":""}},{"id":"D","text":{"fr":"","en":"Classify it as a change in estimate.","es":""},"correct":false,"feedback":{"fr":"","en":"It is an error, not an estimate.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000271","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000271","tested_point":"QST.IAS8.000271","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"restatement-rule"},"references":["IAS 8 §42"],"exercise":{"prompt":{"fr":"","en":"In which financial statements is a material prior period error corrected?","es":""},"explanation":{"fr":"","en":"Except where impracticable, an entity corrects material prior period errors retrospectively in the first set of financial statements authorised for issue after their discovery (IAS 8, para. 42).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Only in the management report.","es":""},"correct":false,"feedback":{"fr":"","en":"The correction concerns the financial statements themselves.","es":""}},{"id":"B","text":{"fr":"","en":"In the financial statements of the year in which the error occurred, through a mandatory reissue.","es":""},"correct":false,"feedback":{"fr":"","en":"IAS 8 does not require a reissue.","es":""}},{"id":"C","text":{"fr":"","en":"In the profit of the year of discovery, on a specific line.","es":""},"correct":false,"feedback":{"fr":"","en":"The correction is excluded from profit of the period of discovery.","es":""}},{"id":"D","text":{"fr":"","en":"In the first set of financial statements authorised for issue after its discovery, retrospectively.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000272","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000272","tested_point":"QST.IAS8.000272","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"restatement-rule"},"references":["IAS 8 §42"],"exercise":{"prompt":{"fr":"","en":"Braidax, which presents 2025 and 2024, discovers in 2025 an error made in 2022. How does it correct it?","es":""},"explanation":{"fr":"","en":"If the error occurred before the earliest prior period presented, the entity restates the opening balances of assets, liabilities and equity for that earliest period (IAS 8, para. 42).","es":""},"common_error":{"fr":"","en":"Charging to comparative profit an error that predates the earliest period presented.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"By restating the opening balances of assets, liabilities and equity at 1 January 2024.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"By restating only the statement of financial position at 31 December 2025.","es":""},"correct":false,"feedback":{"fr":"","en":"Opening balances of the earliest period presented must be restated.","es":""}},{"id":"C","text":{"fr":"","en":"By recognising the error in 2025 profit.","es":""},"correct":false,"feedback":{"fr":"","en":"The correction is excluded from profit of the period of discovery.","es":""}},{"id":"D","text":{"fr":"","en":"By restating comparative 2024 profit by the full amount of the error.","es":""},"correct":false,"feedback":{"fr":"","en":"The portion before 2024 does not belong in 2024 profit.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000273","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000273","tested_point":"QST.IAS8.000273","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"restatement-rule"},"references":["IAS 8 §46"],"exercise":{"prompt":{"fr":"","en":"Trivane's finance director wants the correction of a 2023 error to appear in 2025 profit, the year of discovery. What does IAS 8 require?","es":""},"explanation":{"fr":"","en":"The correction of a prior period error is excluded from profit or loss for the period in which the error is discovered (IAS 8, para. 46).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The correction may be spread between 2025 and the following years.","es":""},"correct":false,"feedback":{"fr":"","en":"No spreading is provided for.","es":""}},{"id":"B","text":{"fr":"","en":"The correction is recognised in 2025 other comprehensive income.","es":""},"correct":false,"feedback":{"fr":"","en":"The correction does not go through 2025 comprehensive income.","es":""}},{"id":"C","text":{"fr":"","en":"The correction is excluded from profit of the period in which the error is discovered.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The correction must be presented in 2025 profit, on a separate line.","es":""},"correct":false,"feedback":{"fr":"","en":"Profit of the year of discovery does not receive the correction.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000274","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000274","tested_point":"QST.IAS8.000274","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"restatement-rule"},"references":["IAS 8 §46"],"exercise":{"prompt":{"fr":"","en":"Pirvane's annual report presents, outside the financial statements, a ten-year historical summary of key figures. A 2021 error is corrected in 2025. What happens to the summary?","es":""},"explanation":{"fr":"","en":"Any information presented about prior periods, including historical summaries of financial data, is restated as far back as practicable (IAS 8, para. 46).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Only 2021 is restated, the other years staying as published.","es":""},"correct":false,"feedback":{"fr":"","en":"All affected years must be restated to the extent practicable.","es":""}},{"id":"B","text":{"fr":"","en":"It is restated as far back as practicable.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"It remains unchanged, as only the financial statements are concerned.","es":""},"correct":false,"feedback":{"fr":"","en":"Historical summaries are also concerned.","es":""}},{"id":"D","text":{"fr":"","en":"It is removed for 2025.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard does not provide for removal.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000275","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000275","tested_point":"QST.IAS8.000275","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"restatement-rule"},"references":["IAS 8 §43"],"exercise":{"prompt":{"fr":"","en":"What limit does IAS 8 place on the retrospective restatement of a prior period error?","es":""},"explanation":{"fr":"","en":"A prior period error is corrected by retrospective restatement except to the extent that it is impracticable to determine either the period-specific effects or the cumulative effect of the error (IAS 8, para. 43).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Restatement is replaced by a note when the error reduces equity.","es":""},"correct":false,"feedback":{"fr":"","en":"A material error calls for restatement whatever its direction.","es":""}},{"id":"B","text":{"fr":"","en":"Restatement is limited to the last two years, whatever data are available.","es":""},"correct":false,"feedback":{"fr":"","en":"No age limit is set.","es":""}},{"id":"C","text":{"fr":"","en":"Restatement is optional when the error is old.","es":""},"correct":false,"feedback":{"fr":"","en":"Restatement is not optional.","es":""}},{"id":"D","text":{"fr":"","en":"Restatement applies except to the extent that it is impracticable to determine the period-specific effects or the cumulative effect.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000276","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"CALCULATION","context":"V1_VG.IAS8.000012","tested_point":"VG.IAS8.000012","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"restatement-rule"},"references":["IAS 8 §42"],"exercise":{"prompt":{"fr":"","en":"Chasenne presents 2025 and 2024. A computation error repeated every year since 2021 overstated its profit: cumulative effect of {cumulative_1_jan_2024} at 1 January 2024 and of {cumulative_31_dec_2024} at 31 December 2024 (tax effect ignored). Allocate the correction.","es":""},"explanation":{"fr":"","en":"The portion before the earliest period presented corrects its opening balances; the 2024 portion restates the comparative (IAS 8, para. 42): opening 32,000; 2024: 50,000 − 32,000 = 18,000.","es":""},"common_error":{"fr":"","en":"Charging the whole cumulative effect to comparative profit.","es":""},"format":"CALCULATION","placeholders":[{"id":"cumulative_31_dec_2024","value":"50000","unit":"EUR"},{"id":"cumulative_1_jan_2024","value":"32000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Cumulative effect at 31 December 2024","es":""},"value":"50000","unit":"EUR"},{"label":{"fr":"","en":"Cumulative effect at 1 January 2024","es":""},"value":"32000","unit":"EUR"}],"steps":[{"id":"OPENING_2024_CORRECTION","label":{"fr":"","en":"Correction of 2024 opening balances","es":""},"answer":32000,"tolerance":0,"unit":"EUR"},{"id":"COMPARATIVE_2024_CORRECTION","label":{"fr":"","en":"Correction of 2024 profit","es":""},"answer":18000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"COMPARATIVE_2024_CORRECTION","meaning":{"fr":"","en":"Correction of 2024 profit","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cumulative effect at 31 December 2024","es":""},"value":50000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Cumulative effect at 1 January 2024","es":""},"value":32000,"unit":"EUR"}],"result":18000,"unit":"EUR"}],"references":["REF.IAS8.42"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000277","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"CALCULATION","context":"V1_VG.IAS8.000012","tested_point":"VG.IAS8.000012","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"restatement-rule"},"references":["IAS 8 §42"],"exercise":{"prompt":{"fr":"","en":"At Brairvot, a maintenance expense has been wrongly capitalised since 2022. The overstated asset amounts to {cumulative_1_jan_2024} at 1 January 2024 and to {cumulative_31_dec_2024} at 31 December 2024. Brairvot presents 2025 and 2024 (tax effect ignored). What corrections apply to the opening balances and to 2024?","es":""},"explanation":{"fr":"","en":"The portion before the earliest period presented corrects its opening balances; the 2024 portion restates the comparative (IAS 8, para. 42): opening 45,000; 2024: 75,000 − 45,000 = 30,000.","es":""},"common_error":{"fr":"","en":"Charging the whole cumulative effect to comparative profit.","es":""},"format":"CALCULATION","placeholders":[{"id":"cumulative_31_dec_2024","value":"75000","unit":"EUR"},{"id":"cumulative_1_jan_2024","value":"45000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Cumulative effect at 31 December 2024","es":""},"value":"75000","unit":"EUR"},{"label":{"fr":"","en":"Cumulative effect at 1 January 2024","es":""},"value":"45000","unit":"EUR"}],"steps":[{"id":"OPENING_2024_CORRECTION","label":{"fr":"","en":"Correction of 2024 opening balances","es":""},"answer":45000,"tolerance":0,"unit":"EUR"},{"id":"COMPARATIVE_2024_CORRECTION","label":{"fr":"","en":"Correction of 2024 profit","es":""},"answer":30000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"COMPARATIVE_2024_CORRECTION","meaning":{"fr":"","en":"Correction of 2024 profit","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cumulative effect at 31 December 2024","es":""},"value":75000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Cumulative effect at 1 January 2024","es":""},"value":45000,"unit":"EUR"}],"result":30000,"unit":"EUR"}],"references":["REF.IAS8.42"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000278","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT","IAS8.SCOPE.GENERAL"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000278","tested_point":"QST.IAS8.000278","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §42","IAS 8 §4"],"exercise":{"prompt":{"fr":"","en":"Lindane's published 2024 profit is {published_profit_2024}. A 2024 expense of {omitted_expense_2024} was omitted; its correction gives rise to a deferred tax effect at a rate of {tax_rate} (case data). What 2024 profit should be presented as the comparative?","es":""},"explanation":{"fr":"","en":"The comparative is restated (IAS 8, para. 42), with the tax effect under IAS 12 (IAS 8, para. 4): 620,000 − 40,000 + 10,000 = 590,000.","es":""},"common_error":{"fr":"","en":"Deducting the gross expense and forgetting deferred tax.","es":""},"format":"CALCULATION","placeholders":[{"id":"published_profit_2024","value":"620000","unit":"EUR"},{"id":"omitted_expense_2024","value":"40000","unit":"EUR"},{"id":"tax_rate","value":"25","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Published 2024 profit","es":""},"value":"620000","unit":"EUR"},{"label":{"fr":"","en":"Omitted 2024 expense","es":""},"value":"40000","unit":"EUR"},{"label":{"fr":"","en":"Tax rate","es":""},"value":"25","unit":"PERCENT"}],"steps":[{"id":"RESTATED_PROFIT_2024","label":{"fr":"","en":"Restated 2024 profit","es":""},"answer":590000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000279","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT","IAS8.SCOPE.GENERAL"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000279","tested_point":"QST.IAS8.000279","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §42","IAS 8 §4"],"exercise":{"prompt":{"fr":"","en":"Malvane overstated its 2023 revenue by {revenue_overstatement_2023} (sale recognised early). It presents 2025 and 2024; its published retained earnings at 1 January 2024 are {published_re_1_jan_2024}. The correction gives rise to a tax effect at a rate of {tax_rate} (case data). Compute restated retained earnings at 1 January 2024.","es":""},"explanation":{"fr":"","en":"The error, which predates the earliest period presented, corrects its opening balances (IAS 8, para. 42), net of tax under IAS 12 (IAS 8, para. 4): 3,100,000 − 80,000 + 20,000 = 3,040,000.","es":""},"format":"CALCULATION","placeholders":[{"id":"published_re_1_jan_2024","value":"3100000","unit":"EUR"},{"id":"revenue_overstatement_2023","value":"80000","unit":"EUR"},{"id":"tax_rate","value":"25","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Published retained earnings at 1 January 2024","es":""},"value":"3100000","unit":"EUR"},{"label":{"fr":"","en":"2023 revenue overstatement","es":""},"value":"80000","unit":"EUR"},{"label":{"fr":"","en":"Tax rate","es":""},"value":"25","unit":"PERCENT"}],"steps":[{"id":"RESTATED_RE_1_JAN_2024","label":{"fr":"","en":"Restated retained earnings at 1 January 2024","es":""},"answer":3040000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000280","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT","IAS8.SCOPE.GENERAL"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000280","tested_point":"QST.IAS8.000280","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §42","IAS 8 §4"],"exercise":{"prompt":{"fr":"","en":"At 31 December 2024, Draivane's assets are overstated by {cumulative_overstatement} because of an error concerning 2023 and 2024. Its published retained earnings at that date are {published_re_31_dec_2024}; the correction gives rise to a deferred tax asset at a rate of {tax_rate} (case data). What retained earnings should be presented at 31 December 2024 as the comparative?","es":""},"explanation":{"fr":"","en":"Comparative amounts are restated as if the error had never occurred (IAS 8, para. 42), including the tax effect (IAS 8, para. 4): 3,400,000 − 120,000 + 30,000 = 3,310,000.","es":""},"format":"CALCULATION","placeholders":[{"id":"published_re_31_dec_2024","value":"3400000","unit":"EUR"},{"id":"cumulative_overstatement","value":"120000","unit":"EUR"},{"id":"tax_rate","value":"25","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Published retained earnings at 31 December 2024","es":""},"value":"3400000","unit":"EUR"},{"label":{"fr":"","en":"Cumulative overstatement of assets","es":""},"value":"120000","unit":"EUR"},{"label":{"fr":"","en":"Tax rate","es":""},"value":"25","unit":"PERCENT"}],"steps":[{"id":"RESTATED_RE_31_DEC_2024","label":{"fr":"","en":"Restated retained earnings at 31 December 2024","es":""},"answer":3310000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000281","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000281","tested_point":"QST.IAS8.000281","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"restatement-rule"},"references":["IAS 8 §42"],"exercise":{"prompt":{"fr":"","en":"Tornelle's published trade receivables at 31 December 2024 amount to {published_receivables}, including {fictitious_receivables} of fictitious receivables created by an employee. What receivables amount should be presented as the comparative in the 2025 financial statements?","es":""},"explanation":{"fr":"","en":"Comparative amounts for the period in which the error occurred are restated (IAS 8, para. 42): 950,000 − 65,000 = 885,000.","es":""},"format":"CALCULATION","placeholders":[{"id":"published_receivables","value":"950000","unit":"EUR"},{"id":"fictitious_receivables","value":"65000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Published receivables","es":""},"value":"950000","unit":"EUR"},{"label":{"fr":"","en":"Fictitious receivables","es":""},"value":"65000","unit":"EUR"}],"steps":[{"id":"RESTATED_RECEIVABLES","label":{"fr":"","en":"Restated receivables","es":""},"answer":885000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"RESTATED_RECEIVABLES","meaning":{"fr":"","en":"Restated receivables","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Published receivables","es":""},"value":950000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Fictitious receivables","es":""},"value":65000,"unit":"EUR"}],"result":885000,"unit":"EUR","rationale":{"fr":"","en":"Comparative amounts for the period in which the error occurred are restated (IAS 8, para. 42): 950,000 − 65,000 = 885,000.","es":""}}],"references":["REF.IAS8.42"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000282","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000282","tested_point":"QST.IAS8.000282","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"restatement-rule"},"references":["IAS 8 §42"],"exercise":{"prompt":{"fr":"","en":"A machine costing {cost}, brought into use on 1 January 2023 and depreciable on a straight-line basis over {useful_life} years with no residual value, was never depreciated by Quarvane, which presents 2025 and 2024 (tax effect ignored). Compute the correction to equity at 1 January 2024 and restated accumulated depreciation at 31 December 2024.","es":""},"explanation":{"fr":"","en":"Annual depreciation: 300,000 ÷ 10 = 30,000. The 2023 charge corrects the 2024 opening balances; the 2024 charge restates the comparative (IAS 8, para. 42); accumulated depreciation at 31 December 2024: 60,000.","es":""},"format":"CALCULATION","placeholders":[{"id":"cost","value":"300000","unit":"EUR"},{"id":"useful_life","value":"10","unit":"YEARS"}],"data":[{"label":{"fr":"","en":"Cost of the machine","es":""},"value":"300000","unit":"EUR"},{"label":{"fr":"","en":"Useful life","es":""},"value":"10","unit":"YEARS"}],"steps":[{"id":"OPENING_2024_CORRECTION","label":{"fr":"","en":"Correction to equity at 1 January 2024","es":""},"answer":30000,"tolerance":0,"unit":"EUR"},{"id":"ACCUMULATED_31_DEC_2024","label":{"fr":"","en":"Restated accumulated depreciation at 31 December 2024","es":""},"answer":60000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"OPENING_2024_CORRECTION","meaning":{"fr":"","en":"Correction to equity at 1 January 2024","es":""},"expression":"a / b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cost of the machine","es":""},"value":300000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Useful life","es":""},"value":10,"unit":"YEARS"}],"result":30000,"unit":"EUR"}],"references":["REF.IAS8.42"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000283","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT","IAS8.SCOPE.GENERAL"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000283","tested_point":"QST.IAS8.000283","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §42","IAS 8 §4"],"exercise":{"prompt":{"fr":"","en":"Velvorne never recognised a provision that should have amounted to {provision_31_dec_2023} at the end of 2023 and {provision_31_dec_2024} at the end of 2024. It presents 2025 and 2024; the correction gives rise to a deferred tax asset at a rate of {tax_rate} (case data). Compute, net of tax, the 2024 opening correction, the decrease in 2024 profit and the decrease in equity at 31 December 2024.","es":""},"explanation":{"fr":"","en":"Opening of the earliest period presented and comparative restated (IAS 8, para. 42), net of tax under IAS 12 (IAS 8, para. 4): 70,000 × (1 − 30%) = 49,000; 2024: (90,000 − 70,000) × (1 − 30%) = 14,000; end of 2024: 63,000.","es":""},"format":"CALCULATION","placeholders":[{"id":"provision_31_dec_2023","value":"70000","unit":"EUR"},{"id":"provision_31_dec_2024","value":"90000","unit":"EUR"},{"id":"tax_rate","value":"30","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Provision required at the end of 2023","es":""},"value":"70000","unit":"EUR"},{"label":{"fr":"","en":"Provision required at the end of 2024","es":""},"value":"90000","unit":"EUR"},{"label":{"fr":"","en":"Tax rate","es":""},"value":"30","unit":"PERCENT"}],"steps":[{"id":"OPENING_2024_NET","label":{"fr":"","en":"Net 2024 opening correction","es":""},"answer":49000,"tolerance":0,"unit":"EUR"},{"id":"PROFIT_2024_NET","label":{"fr":"","en":"Net decrease in 2024 profit","es":""},"answer":14000,"tolerance":0,"unit":"EUR"},{"id":"EQUITY_31_DEC_2024_NET","label":{"fr":"","en":"Net decrease in equity at 31 December 2024","es":""},"answer":63000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"OPENING_2024_NET","meaning":{"fr":"","en":"Net 2024 opening correction","es":""},"expression":"a * (1 - b)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Provision required at the end of 2023","es":""},"value":70000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Tax rate","es":""},"value":30,"unit":"PERCENT"}],"result":49000,"unit":"EUR","rationale":{"fr":"","en":"Opening of the earliest period presented and comparative restated (IAS 8, para. 42), net of tax under IAS 12 (IAS 8, para. 4): 70,000 × (1 − 30%) = 49,000","es":""}},{"step":"PROFIT_2024_NET","meaning":{"fr":"","en":"Net decrease in 2024 profit","es":""},"expression":"(a - b) * (1 - c)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Provision required at the end of 2024","es":""},"value":90000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Provision required at the end of 2023","es":""},"value":70000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Tax rate","es":""},"value":30,"unit":"PERCENT"}],"result":14000,"unit":"EUR"}],"references":["REF.IAS8.42","REF.IAS8.4"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000284","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000284","tested_point":"QST.IAS8.000284","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"restatement-rule"},"references":["IAS 8 §42"],"exercise":{"prompt":{"fr":"","en":"In its count at the end of 2024, Chaurgède counted a batch of {double_count} twice. Its published 2024 profit is {published_profit_2024} and its published inventories {published_inventory_2024} (tax effect ignored). What amounts should be presented as comparatives?","es":""},"explanation":{"fr":"","en":"The 2024 comparative amounts are restated (IAS 8, para. 42): overstated closing inventory understates cost of sales; profit 410,000 − 25,000 = 385,000; inventories 600,000 − 25,000 = 575,000.","es":""},"format":"CALCULATION","placeholders":[{"id":"published_profit_2024","value":"410000","unit":"EUR"},{"id":"published_inventory_2024","value":"600000","unit":"EUR"},{"id":"double_count","value":"25000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Published 2024 profit","es":""},"value":"410000","unit":"EUR"},{"label":{"fr":"","en":"Published inventories at the end of 2024","es":""},"value":"600000","unit":"EUR"},{"label":{"fr":"","en":"Batch counted twice","es":""},"value":"25000","unit":"EUR"}],"steps":[{"id":"RESTATED_PROFIT_2024","label":{"fr":"","en":"Restated 2024 profit","es":""},"answer":385000,"tolerance":0,"unit":"EUR"},{"id":"RESTATED_INVENTORY_2024","label":{"fr":"","en":"Restated inventories at the end of 2024","es":""},"answer":575000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"RESTATED_PROFIT_2024","meaning":{"fr":"","en":"Restated 2024 profit","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Published 2024 profit","es":""},"value":410000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Batch counted twice","es":""},"value":25000,"unit":"EUR"}],"result":385000,"unit":"EUR"},{"step":"RESTATED_INVENTORY_2024","meaning":{"fr":"","en":"Restated inventories at the end of 2024","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Published inventories at the end of 2024","es":""},"value":600000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Batch counted twice","es":""},"value":25000,"unit":"EUR"}],"result":575000,"unit":"EUR"}],"rationale":{"fr":"","en":"The 2024 comparative amounts are restated (IAS 8, para. 42): overstated closing inventory understates cost of sales","es":""},"references":["REF.IAS8.42"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000285","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000285","tested_point":"QST.IAS8.000285","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"restatement-rule"},"references":["IAS 8 §44"],"exercise":{"prompt":{"fr":"","en":"Braurnade discovers an old error whose specific effects on 2024 cannot practicably be determined, but whose cumulative effect at 1 January 2025 is known: {cumulative_effect_1_jan_2025}. It presents 2025 and 2024 (tax effect ignored). What correction of opening balances, and at what date?","es":""},"explanation":{"fr":"","en":"If it is impracticable to determine the period-specific effects for prior periods presented, the entity restates the opening balances of the earliest period for which this is practicable, which may be the current period (IAS 8, para. 44): correction of 48,000 at 1 January 2025.","es":""},"format":"CALCULATION","placeholders":[{"id":"cumulative_effect_1_jan_2025","value":"48000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Cumulative effect at 1 January 2025","es":""},"value":"48000","unit":"EUR"}],"steps":[{"id":"OPENING_2025_CORRECTION","label":{"fr":"","en":"Correction of balances at 1 January 2025","es":""},"answer":48000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000286","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000286","tested_point":"QST.IAS8.000286","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"restatement-rule"},"references":["IAS 8 §53","IAS 8 §42"],"exercise":{"prompt":{"fr":"","en":"At the end of 2024, Chailbence omitted any loss allowance on receivables of {receivables_2024}, although a loss rate of {loss_rate_known_in_2024} emerged from the data available at the time (case data). Losses finally incurred in 2025 amount to {actual_losses_2025}. What amount should be used to restate the 2024 comparative?","es":""},"explanation":{"fr":"","en":"The comparative is restated (IAS 8, para. 42) without hindsight (IAS 8, para. 53): 400,000 × 5% = 20,000; the 2025 losses are not used.","es":""},"common_error":{"fr":"","en":"Using the losses incurred in 2025.","es":""},"format":"CALCULATION","placeholders":[{"id":"receivables_2024","value":"400000","unit":"EUR"},{"id":"loss_rate_known_in_2024","value":"5","unit":"PERCENT"},{"id":"actual_losses_2025","value":"32000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Receivables at the end of 2024","es":""},"value":"400000","unit":"EUR"},{"label":{"fr":"","en":"Loss rate known in 2024","es":""},"value":"5","unit":"PERCENT"},{"label":{"fr":"","en":"Losses incurred in 2025","es":""},"value":"32000","unit":"EUR"}],"steps":[{"id":"ALLOWANCE_TO_RESTATE","label":{"fr":"","en":"Loss allowance to restate","es":""},"answer":20000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"ALLOWANCE_TO_RESTATE","meaning":{"fr":"","en":"Loss allowance to restate","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Receivables at the end of 2024","es":""},"value":400000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Loss rate known in 2024","es":""},"value":5,"unit":"PERCENT"}],"result":20000,"unit":"EUR"}],"rationale":{"fr":"","en":"The comparative is restated (IAS 8, para. 42) without hindsight (IAS 8, para. 53): 400,000 × 5% = 20,000","es":""},"references":["REF.IAS8.53","REF.IAS8.42"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000287","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000287","tested_point":"QST.IAS8.000287","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"restatement-rule"},"references":["IAS 8 §46","IAS 8 §42"],"exercise":{"prompt":{"fr":"","en":"In 2025, Ponvane discovers that a 2023 liability was never recognised. The accountant records 'Exceptional expense 2025 / Liability'. What is the error?","es":""},"explanation":{"fr":"","en":"Material errors are corrected retrospectively (IAS 8, para. 42) and the correction is excluded from profit of the period of discovery (IAS 8, para. 46).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The correction of a prior error is excluded from 2025 profit; it goes through opening balances and comparatives.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"There is no error if the expense is presented separately.","es":""},"correct":false,"feedback":{"fr":"","en":"Separate presentation does not fix the posting.","es":""}},{"id":"C","text":{"fr":"","en":"The liability should have been credited to equity.","es":""},"correct":false,"feedback":{"fr":"","en":"The liability is credited to liabilities; the other side is what must be reviewed.","es":""}},{"id":"D","text":{"fr":"","en":"The liability must never be recognised since it dates from 2023.","es":""},"correct":false,"feedback":{"fr":"","en":"The liability exists and must be recognised.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000288","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000288","tested_point":"QST.IAS8.000288","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"restatement-rule"},"references":["IAS 8 §42"],"exercise":{"prompt":{"fr":"","en":"Kelbane presents 2025 and 2024. An error made in 2021 and 2022 is discovered in 2025; the accountant charges the whole effect to comparative 2024 profit. What is the error?","es":""},"explanation":{"fr":"","en":"If the error occurred before the earliest period presented, the entity restates the opening balances of assets, liabilities and equity for that earliest period (IAS 8, para. 42).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The effect should have been charged to 2025 profit, the year in which the error was discovered.","es":""},"correct":false,"feedback":{"fr":"","en":"The correction is excluded from profit of the period of discovery.","es":""}},{"id":"B","text":{"fr":"","en":"There is no error.","es":""},"correct":false,"feedback":{"fr":"","en":"Comparative profit is distorted.","es":""}},{"id":"C","text":{"fr":"","en":"The effect before 2024 must correct the 2024 opening balances, not 2024 profit.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The 2021 and 2022 accounts must be reissued.","es":""},"correct":false,"feedback":{"fr":"","en":"IAS 8 does not provide for a reissue.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000289","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT","IAS8.SCOPE.GENERAL"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000289","tested_point":"QST.IAS8.000289","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000001","section_id":"scope"},"references":["IAS 8 §42","IAS 8 §4"],"exercise":{"prompt":{"fr":"","en":"To correct a provision of 100,000 omitted in 2023, Silbane reduces its opening retained earnings by 100,000. The expense will be deductible when paid and the deferred tax asset is recoverable at a rate of 25% (case data). What is the error?","es":""},"explanation":{"fr":"","en":"The error is corrected retrospectively in the opening balances (IAS 8, para. 42), and its tax effect is recognised under IAS 12 (IAS 8, para. 4): 100,000 × 25% = 25,000; net decrease 75,000.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"There is no error: tax is never restated.","es":""},"correct":false,"feedback":{"fr":"","en":"Tax effects follow IAS 12.","es":""}},{"id":"B","text":{"fr":"","en":"The correction should have increased equity.","es":""},"correct":false,"feedback":{"fr":"","en":"An omitted provision reduces equity.","es":""}},{"id":"C","text":{"fr":"","en":"The provision should have been expensed in 2025, the year the omission was discovered.","es":""},"correct":false,"feedback":{"fr":"","en":"The correction is excluded from profit of the period of discovery.","es":""}},{"id":"D","text":{"fr":"","en":"The deferred tax effect of 25,000 was omitted: the net decrease should be 75,000.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000290","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000290","tested_point":"QST.IAS8.000290","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"restatement-rule"},"references":["IAS 8 §42"],"exercise":{"prompt":{"fr":"","en":"In 2025, Garnelle corrects a material 2024 error by adjusting its equity at 1 January 2025, but presents the 2024 comparatives as published, with a mere note. What is the error?","es":""},"explanation":{"fr":"","en":"The entity restates the comparative amounts for the prior period or periods presented in which the error occurred (IAS 8, para. 42).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A 2024 error cannot be corrected after the 2024 accounts are issued.","es":""},"correct":false,"feedback":{"fr":"","en":"Correction is made precisely in the following statements.","es":""}},{"id":"B","text":{"fr":"","en":"The comparative amounts for 2024, the period in which the error occurred, must be restated.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"There is no error if the note is detailed.","es":""},"correct":false,"feedback":{"fr":"","en":"A note does not replace restatement.","es":""}},{"id":"D","text":{"fr":"","en":"The correction should have gone through 2025 profit, the year in which the error was discovered.","es":""},"correct":false,"feedback":{"fr":"","en":"The correction is excluded from profit of the period of discovery.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000298","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000298","tested_point":"QST.IAS8.000298","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"restatement-rule"},"references":["IAS 8 §42"],"exercise":{"prompt":{"fr":"","en":"In April 2025, Nelvane discovers a material error in its 2024 accounts, issued in March. It presents 2025 and 2024. Which treatment applies?","es":""},"explanation":{"fr":"","en":"Material errors are corrected retrospectively in the first set of financial statements issued after their discovery, by restating the comparatives of the period in which the error occurred (IAS 8, para. 42).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Correct only the 2025 opening balance sheet, without restating the 2024 income statement.","es":""},"correct":false,"feedback":{"fr":"","en":"The 2024 comparative itself must be restated.","es":""}},{"id":"B","text":{"fr":"","en":"Restate the 2024 comparative in the 2025 financial statements.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Do nothing, the 2024 accounts having been approved by shareholders.","es":""},"correct":false,"feedback":{"fr":"","en":"A material error must be corrected.","es":""}},{"id":"D","text":{"fr":"","en":"Recognise the effect of the error in 2025 profit, on a separate line.","es":""},"correct":false,"feedback":{"fr":"","en":"The correction is excluded from profit of the period of discovery.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000299","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000299","tested_point":"QST.IAS8.000299","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"restatement-rule"},"references":["IAS 8 §42"],"exercise":{"prompt":{"fr":"","en":"Durvane, which presents 2025 and 2024, discovers that a non-current asset was overstated in 2022. The error had no effect on 2023 or 2024 profit. Where is the correction made?","es":""},"explanation":{"fr":"","en":"An error that predates the earliest period presented is corrected by restating the opening balances of assets, liabilities and equity for that period (IAS 8, para. 42).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"In 2025 profit, the year in which the overstatement was discovered.","es":""},"correct":false,"feedback":{"fr":"","en":"The correction is excluded from profit of the period of discovery.","es":""}},{"id":"B","text":{"fr":"","en":"In the 2022 accounts, which must be reissued.","es":""},"correct":false,"feedback":{"fr":"","en":"IAS 8 does not provide for a reissue.","es":""}},{"id":"C","text":{"fr":"","en":"In comparative 2024 profit, the only prior period presented.","es":""},"correct":false,"feedback":{"fr":"","en":"2024 profit was not affected.","es":""}},{"id":"D","text":{"fr":"","en":"In the opening balances of assets and equity at 1 January 2024; 2024 profit remains unchanged.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000300","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000300","tested_point":"QST.IAS8.000300","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"restatement-rule"},"references":["IAS 8 §46"],"exercise":{"prompt":{"fr":"","en":"So as 'not to touch accounts already issued', Fenvane's finance director proposes recognising in 2025 an exceptional expense correcting a material 2024 error. What should he be told?","es":""},"explanation":{"fr":"","en":"The correction of a prior period error is excluded from profit or loss for the period in which it is discovered (IAS 8, para. 46).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The proposal is acceptable if the error is smaller than 2025 profit.","es":""},"correct":false,"feedback":{"fr":"","en":"The relative amount is not the test.","es":""}},{"id":"B","text":{"fr":"","en":"The proposal is mandatory, since issued accounts can never be changed.","es":""},"correct":false,"feedback":{"fr":"","en":"Comparatives are restated in the following financial statements.","es":""}},{"id":"C","text":{"fr":"","en":"The correction is excluded from 2025 profit; the 2024 comparative is restated.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The proposal is acceptable if the expense is presented separately and explained in the notes.","es":""},"correct":false,"feedback":{"fr":"","en":"Separate presentation does not replace restatement.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000301","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000301","tested_point":"QST.IAS8.000301","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"restatement-rule"},"references":["IAS 8 §44"],"exercise":{"prompt":{"fr":"","en":"In 2025, Ganvelle discovers an old error. After every reasonable effort, its specific effects on 2024 remain indeterminable, but the cumulative effect at 1 January 2025 can be measured. Which treatment applies?","es":""},"explanation":{"fr":"","en":"If it is impracticable to determine the period-specific effects for one or more prior periods presented, the entity restates the opening balances for the earliest period for which retrospective restatement is practicable, which may be the current period (IAS 8, para. 44).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Restate the opening balances at 1 January 2025, the earliest period for which this is practicable.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Restate the 2024 comparative by estimating its effects from 2025 data.","es":""},"correct":false,"feedback":{"fr":"","en":"Using 2025 data with hindsight is not allowed.","es":""}},{"id":"C","text":{"fr":"","en":"Recognise the cumulative effect in 2025 profit.","es":""},"correct":false,"feedback":{"fr":"","en":"The correction is not recognised in profit of the year of discovery.","es":""}},{"id":"D","text":{"fr":"","en":"Correct nothing, since 2024 cannot be restated.","es":""},"correct":false,"feedback":{"fr":"","en":"The error must be corrected to the extent practicable.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000302","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000302","tested_point":"QST.IAS8.000302","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"restatement-rule"},"references":["IAS 8 §45"],"exercise":{"prompt":{"fr":"","en":"Brastois cannot determine the cumulative effect of an error on all prior periods at the beginning of 2025, for lack of data; reliable data exist only from 1 April 2024. Which treatment applies?","es":""},"explanation":{"fr":"","en":"If it is impracticable to determine the cumulative effect of an error on all prior periods at the beginning of the current period, the entity restates the comparative information to correct the error prospectively from the earliest date practicable (IAS 8, para. 45).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Restate the comparative information to correct the error prospectively from 1 April 2024.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Rebuild the data before 1 April 2024 from trends observed in 2025.","es":""},"correct":false,"feedback":{"fr":"","en":"Hindsight is not allowed.","es":""}},{"id":"C","text":{"fr":"","en":"Not correct the error, since the cumulative effect is unknown.","es":""},"correct":false,"feedback":{"fr":"","en":"Correction remains required to the extent practicable.","es":""}},{"id":"D","text":{"fr":"","en":"Correct the error in 2025 profit for its estimated amount.","es":""},"correct":false,"feedback":{"fr":"","en":"The correction is not recognised in profit of the year of discovery.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000303","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000303","tested_point":"QST.IAS8.000303","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"disclosure"},"references":["IAS 8 §49"],"exercise":{"prompt":{"fr":"","en":"When a prior period error is corrected, the entity discloses the nature of the error.","es":""},"explanation":{"fr":"","en":"The entity discloses, among other things, the nature of the error, the amount of the correction for each line item for each prior period presented and the amount of the correction at the beginning of the earliest period presented (IAS 8, para. 49).","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000304","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000304","tested_point":"QST.IAS8.000304","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"disclosure"},"references":["IAS 8 §49"],"exercise":{"prompt":{"fr":"","en":"Disclosures about the correction of a prior period error must be repeated in the financial statements of all subsequent periods.","es":""},"explanation":{"fr":"","en":"Disclosures about the correction of an error need not be repeated in the financial statements of subsequent periods (IAS 8, para. 49).","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000305","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000305","tested_point":"QST.IAS8.000305","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"disclosure"},"references":["IAS 8 §49"],"exercise":{"prompt":{"fr":"","en":"Sorgane, listed and subject to IAS 33, corrects a 2024 error. Which disclosure, specific to entities subject to IAS 33, must appear in its notes, to the extent practicable?","es":""},"explanation":{"fr":"","en":"For each prior period presented, to the extent practicable, the entity discloses the amount of the correction for each line item affected and, if IAS 33 applies, for basic and diluted earnings per share (IAS 8, para. 49).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The number of shareholders present at the meeting that approved the 2024 accounts.","es":""},"correct":false,"feedback":{"fr":"","en":"This disclosure is not required.","es":""}},{"id":"B","text":{"fr":"","en":"The amount of the correction for basic and diluted earnings per share for each prior period presented.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Directors' remuneration during the year of the error.","es":""},"correct":false,"feedback":{"fr":"","en":"This disclosure is not an IAS 8 matter.","es":""}},{"id":"D","text":{"fr":"","en":"The share price at the date the error was discovered.","es":""},"correct":false,"feedback":{"fr":"","en":"The share price is not a required disclosure.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000306","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000306","tested_point":"QST.IAS8.000306","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"disclosure"},"references":["IAS 8 §49"],"exercise":{"prompt":{"fr":"","en":"Tauscard corrects an error dating back to 2022 in its 2025 financial statements (2024 comparative). What amount must it disclose, in addition to the 2024 corrections by line item?","es":""},"explanation":{"fr":"","en":"The entity discloses the amount of the correction at the beginning of the earliest prior period presented (IAS 8, para. 49).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The amount of the correction at 31 December 2025.","es":""},"correct":false,"feedback":{"fr":"","en":"The correction is measured at the beginning of the earliest period presented.","es":""}},{"id":"B","text":{"fr":"","en":"The cumulative correction since the company was set up, broken down year by year up to 2022.","es":""},"correct":false,"feedback":{"fr":"","en":"A breakdown since incorporation is not required.","es":""}},{"id":"C","text":{"fr":"","en":"The amount of the correction at the beginning of the earliest period presented.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"No other amount is required.","es":""},"correct":false,"feedback":{"fr":"","en":"The opening correction is a required disclosure.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000307","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000307","tested_point":"QST.IAS8.000307","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"disclosure"},"references":["IAS 8 §49"],"exercise":{"prompt":{"fr":"","en":"For a given prior period, Faldane cannot restate an error retrospectively, for lack of data. What must it disclose about this?","es":""},"explanation":{"fr":"","en":"If retrospective restatement is impracticable for a particular period, the entity discloses the circumstances that led to that condition and how the error has been corrected (IAS 8, para. 49).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The names of those responsible for losing the data and the sanctions taken.","es":""},"correct":false,"feedback":{"fr":"","en":"This disclosure is not required by IAS 8.","es":""}},{"id":"B","text":{"fr":"","en":"A lump-sum estimate of the amount not corrected, with no further detail.","es":""},"correct":false,"feedback":{"fr":"","en":"A lump-sum estimate is not the disclosure provided for.","es":""}},{"id":"C","text":{"fr":"","en":"Nothing: impracticability removes any disclosure.","es":""},"correct":false,"feedback":{"fr":"","en":"Impracticability, on the contrary, calls for a disclosure.","es":""}},{"id":"D","text":{"fr":"","en":"The circumstances that led to this situation and how the error has been corrected.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000308","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000308","tested_point":"QST.IAS8.000308","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"disclosure"},"references":["IAS 8 §49"],"exercise":{"prompt":{"fr":"","en":"Which of these disclosures are required when a prior period error is corrected?","es":""},"explanation":{"fr":"","en":"The entity discloses the nature of the error, the amount of the correction for each line item for each prior period presented (and, if IAS 33 applies, for earnings per share) and the amount of the correction at the beginning of the earliest period presented (IAS 8, para. 49).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"For each prior period presented, to the extent practicable, the amount of the correction for each line item affected.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The nature of the error.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The cost of the correction work incurred by the entity.","es":""},"correct":false,"feedback":{"fr":"","en":"This disclosure is not required.","es":""}},{"id":"D","text":{"fr":"","en":"The amount of the correction at the beginning of the earliest period presented.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The list of employees involved in the error.","es":""},"correct":false,"feedback":{"fr":"","en":"This disclosure is not required.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000309","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.DISCLOSURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000309","tested_point":"QST.IAS8.000309","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"disclosure"},"references":["IAS 8 §49"],"exercise":{"prompt":{"fr":"","en":"Which statements about disclosures on error corrections are correct?","es":""},"explanation":{"fr":"","en":"The disclosures include the nature of the error, the amounts by line item and at the opening of the earliest period presented, and, if impracticable, the circumstances and how it was corrected; they need not be repeated later (IAS 8, para. 49).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"They are limited to the nature of the error, with no amount.","es":""},"correct":false,"feedback":{"fr":"","en":"Amounts are required.","es":""}},{"id":"B","text":{"fr":"","en":"An overall effect on profit is enough, with no line-by-line detail.","es":""},"correct":false,"feedback":{"fr":"","en":"Line-by-line detail is required, to the extent practicable.","es":""}},{"id":"C","text":{"fr":"","en":"They must be repeated every year as long as the corrected year appears in a historical summary.","es":""},"correct":false,"feedback":{"fr":"","en":"No repetition is required in subsequent periods.","es":""}},{"id":"D","text":{"fr":"","en":"They need not be repeated in the financial statements of subsequent periods.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"If impracticable for a period, the entity explains the circumstances and how the error was corrected.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000310","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.DISCLOSURE"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000310","tested_point":"QST.IAS8.000310","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"disclosure"},"references":["IAS 8 §49"],"exercise":{"prompt":{"fr":"","en":"Vellane's note on correcting an error dating back to 2022 discloses the nature of the error and the 2024 corrections by line item (comparative). Which disclosure is missing?","es":""},"explanation":{"fr":"","en":"In addition to the nature of the error and the corrections by line item, the entity discloses the amount of the correction at the beginning of the earliest period presented (IAS 8, para. 49).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"None: the note is complete.","es":""},"correct":false,"feedback":{"fr":"","en":"The opening correction is missing.","es":""}},{"id":"B","text":{"fr":"","en":"The detail of the correction for 2022, presented as a separate table.","es":""},"correct":false,"feedback":{"fr":"","en":"2022 is not a period presented; the opening of 2024 is what matters.","es":""}},{"id":"C","text":{"fr":"","en":"The amount of the correction at the beginning of the earliest period presented.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The amount of the correction planned for 2026.","es":""},"correct":false,"feedback":{"fr":"","en":"A future correction makes no sense here.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000311","standard_id":"IAS8","concept_ids":["IAS8.ERRORS.DISCLOSURE"],"dimension":"ANALYSIS","context":"V1_QST.IAS8.000311","tested_point":"QST.IAS8.000311","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"disclosure"},"references":["IAS 8 §49"],"exercise":{"prompt":{"fr":"","en":"In 2024, Vrévelle corrected a 2023 error and described it in its 2024 notes. For its 2026 financial statements, the controller repeats this note in full 'as required'. What do you think?","es":""},"explanation":{"fr":"","en":"Disclosures about the correction of an error need not be repeated in the financial statements of subsequent periods (IAS 8, para. 49).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The note must be repeated only if the auditor requires it.","es":""},"correct":false,"feedback":{"fr":"","en":"The auditor's requirement is not the test.","es":""}},{"id":"B","text":{"fr":"","en":"Repetition is required as long as the error appears in a prior year's accounts.","es":""},"correct":false,"feedback":{"fr":"","en":"There is no repetition requirement.","es":""}},{"id":"C","text":{"fr":"","en":"The note must be repeated, but supplemented by a new restatement of 2025.","es":""},"correct":false,"feedback":{"fr":"","en":"No new restatement is justified.","es":""}},{"id":"D","text":{"fr":"","en":"These disclosures need not be repeated in the financial statements of subsequent periods.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000312","standard_id":"IAS8","concept_ids":["IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000312","tested_point":"QST.IAS8.000312","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000016","section_id":"three-situations"},"references":["IAS 8 §50"],"exercise":{"prompt":{"fr":"","en":"In which situation may adjusting the comparative information of a prior period be impracticable?","es":""},"explanation":{"fr":"","en":"It may be impracticable to adjust comparative information for a prior period, for example when data were not collected and it is impracticable to recreate them (IAS 8, para. 50).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"When the necessary data were not collected and it is impracticable to recreate them.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"When the prior period accounts were approved by the shareholders.","es":""},"correct":false,"feedback":{"fr":"","en":"Past approval does not prevent the adjustment.","es":""}},{"id":"C","text":{"fr":"","en":"When the adjustment would reduce reported comparative profit.","es":""},"correct":false,"feedback":{"fr":"","en":"An unfavourable effect is not a criterion.","es":""}},{"id":"D","text":{"fr":"","en":"When the adjustment would take several weeks of work for a team already busy with the year-end close.","es":""},"correct":false,"feedback":{"fr":"","en":"Workload is not enough to establish impracticability.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000313","standard_id":"IAS8","concept_ids":["IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000313","tested_point":"QST.IAS8.000313","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000016","section_id":"three-situations"},"references":["IAS 8 §51"],"exercise":{"prompt":{"fr":"","en":"Does the fact that a restatement requires estimates make it impracticable?","es":""},"explanation":{"fr":"","en":"Applying a policy often requires estimates, which may be developed after the reporting period; more difficult in a restatement, they still aim to reflect the circumstances that existed when the transaction or event occurred (IAS 8, para. 51).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Yes: any estimate made after the event makes restatement impracticable.","es":""},"correct":false,"feedback":{"fr":"","en":"An estimate may be developed after the period, provided its objective is respected.","es":""}},{"id":"B","text":{"fr":"","en":"No: estimates are common; in a restatement they aim to reflect the circumstances that existed at the time.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Yes, as soon as the estimate covers more than one year.","es":""},"correct":false,"feedback":{"fr":"","en":"The number of years is not a criterion.","es":""}},{"id":"D","text":{"fr":"","en":"No, but only if the auditor approves the estimates before the accounts are issued.","es":""},"correct":false,"feedback":{"fr":"","en":"The auditor's approval is not the condition.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000314","standard_id":"IAS8","concept_ids":["IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000314","tested_point":"QST.IAS8.000314","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000016","section_id":"three-situations"},"references":["IAS 8 §52"],"exercise":{"prompt":{"fr":"","en":"In which case does IAS 8 regard retrospective application as impracticable with regard to significant estimates?","es":""},"explanation":{"fr":"","en":"Retrospective application requires distinguishing information that reflects the circumstances of the time and would have been available when the statements were authorised; if this is impossible for significant estimates, retrospective application is impracticable (IAS 8, para. 52).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"When significant estimates lead to a loss.","es":""},"correct":false,"feedback":{"fr":"","en":"The direction of the effect is not a criterion.","es":""}},{"id":"B","text":{"fr":"","en":"When it is impossible to distinguish information that reflects the circumstances of the time and would have been available when the statements were authorised from other information.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"When significant estimates change from one year to the next.","es":""},"correct":false,"feedback":{"fr":"","en":"Changing estimates do not make restatement impracticable.","es":""}},{"id":"D","text":{"fr":"","en":"When significant estimates were prepared by an external expert.","es":""},"correct":false,"feedback":{"fr":"","en":"Using an expert is not a criterion.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000315","standard_id":"IAS8","concept_ids":["IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000315","tested_point":"QST.IAS8.000315","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000016","section_id":"three-situations"},"references":["IAS 8 §43","IAS 8 §44"],"exercise":{"prompt":{"fr":"","en":"Despite every effort, Clailvard cannot determine the specific effects of an error on 2024, but it can measure their cumulative amount at the beginning of 2025. Which principle of the standard applies?","es":""},"explanation":{"fr":"","en":"An error is corrected by retrospective restatement except to the extent it is impracticable (IAS 8, para. 43); if period-specific effects cannot be determined, the opening balances of the earliest practicable period are restated (IAS 8, para. 44).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The entity must restate 2024 using 2025 data.","es":""},"correct":false,"feedback":{"fr":"","en":"Hindsight is not allowed.","es":""}},{"id":"B","text":{"fr":"","en":"Partial impracticability removes the need for any correction.","es":""},"correct":false,"feedback":{"fr":"","en":"Correction remains due to the extent practicable.","es":""}},{"id":"C","text":{"fr":"","en":"The error is corrected in 2025 profit, the year of discovery.","es":""},"correct":false,"feedback":{"fr":"","en":"The correction does not go through profit of the year of discovery.","es":""}},{"id":"D","text":{"fr":"","en":"Retrospective restatement applies except to the extent it is impracticable; the correction is then made at the opening of the earliest practicable period.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000316","standard_id":"IAS8","concept_ids":["IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000316","tested_point":"QST.IAS8.000316","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000016","section_id":"three-situations"},"references":["IAS 8 §52","IAS 8 §53"],"exercise":{"prompt":{"fr":"","en":"To estimate in 2025 an amount at the end of 2023 as part of a restatement, which information may Cludelle use?","es":""},"explanation":{"fr":"","en":"Only information that reflects the circumstances of the time and was available when the statements were authorised may be used (IAS 8, para. 52); hindsight is ruled out for intentions and amounts alike (IAS 8, para. 53).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Valuation reports prepared in 2023 on the situation at the reporting date.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The sale price actually obtained in 2025.","es":""},"correct":false,"feedback":{"fr":"","en":"A 2025 price is hindsight.","es":""}},{"id":"C","text":{"fr":"","en":"Management's 2023 intentions, reworded in light of the 2025 strategy.","es":""},"correct":false,"feedback":{"fr":"","en":"Reconstructing intentions from later elements is ruled out.","es":""}},{"id":"D","text":{"fr":"","en":"Losses actually incurred in 2024.","es":""},"correct":false,"feedback":{"fr":"","en":"2024 losses are information after the 2023 reporting date.","es":""}},{"id":"E","text":{"fr":"","en":"Price lists published before the 2023 accounts were authorised.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000317","standard_id":"IAS8","concept_ids":["IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000317","tested_point":"QST.IAS8.000317","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000016","section_id":"three-situations"},"references":["IAS 8 §51","IAS 8 §50"],"exercise":{"prompt":{"fr":"","en":"Which statements about estimating in a restatement are correct?","es":""},"explanation":{"fr":"","en":"Estimates may be developed after the period and are more difficult in a restatement, but their objective remains to reflect the circumstances of the time (IAS 8, para. 51); data that cannot be recreated may make restatement impracticable (IAS 8, para. 50).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"In a restatement, the estimate must reflect current circumstances rather than those of the time.","es":""},"correct":false,"feedback":{"fr":"","en":"The estimate targets the circumstances of the time.","es":""}},{"id":"B","text":{"fr":"","en":"Data that were not collected and cannot be recreated may make restatement impracticable.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Estimating is potentially more difficult in a restatement, because of the time elapsed.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"An estimate may be developed after the reporting period.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The need for an estimate on its own makes restatement impracticable.","es":""},"correct":false,"feedback":{"fr":"","en":"Estimating is not, in itself, impracticable.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000318","standard_id":"IAS8","concept_ids":["IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IAS8.000318","tested_point":"QST.IAS8.000318","difficulty":"EXPERT","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":140,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000016","section_id":"three-situations"},"references":["IAS 8 §5","IAS 8 §52"],"exercise":{"prompt":{"fr":"","en":"Drarvian claims impracticability for four restatements. Which of its arguments are admissible, after every reasonable effort?","es":""},"explanation":{"fr":"","en":"For a prior period, application is impracticable in particular if it requires assumptions about management's past intent (IAS 8, para. 5) or if, for significant estimates, information of the time cannot be distinguished from other information (IAS 8, para. 52).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The restatement would delay publication by a few days.","es":""},"correct":false,"feedback":{"fr":"","en":"A delay is not enough.","es":""}},{"id":"B","text":{"fr":"","en":"The restatement requires estimates of 2023 turnover rates.","es":""},"correct":false,"feedback":{"fr":"","en":"The need for estimates is not enough.","es":""}},{"id":"C","text":{"fr":"","en":"The restatement would show a loss in 2024.","es":""},"correct":false,"feedback":{"fr":"","en":"An unfavourable effect is not a criterion.","es":""}},{"id":"D","text":{"fr":"","en":"The restatement requires assumptions about management's intent in 2022, which nothing documents.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"A significant estimate can only be based on a mix of 2023 and 2025 information that cannot be told apart.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000319","standard_id":"IAS8","concept_ids":["IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"CALCULATION","context":"V1_VG.IAS8.000014","tested_point":"VG.IAS8.000014","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000016","section_id":"three-situations"},"references":["IAS 8 §53"],"exercise":{"prompt":{"fr":"","en":"Dremède omitted any warranty provision at the end of 2024. Statistics available at the time indicated a claim rate of {claim_rate_2024} of 2024 sales, which amounted to {sales_2024} (case data). Actual 2025 claims reach {actual_claims_2025}. What amount should be used to restate 2024?","es":""},"explanation":{"fr":"","en":"Hindsight is not used to estimate the amounts of a prior period (IAS 8, para. 53): 1,500,000 × 2% = 30,000; the 2025 claims are ignored.","es":""},"common_error":{"fr":"","en":"Using the actual 2025 claims.","es":""},"format":"CALCULATION","placeholders":[{"id":"sales_2024","value":"1500000","unit":"EUR"},{"id":"claim_rate_2024","value":"2","unit":"PERCENT"},{"id":"actual_claims_2025","value":"41000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"2024 sales","es":""},"value":"1500000","unit":"EUR"},{"label":{"fr":"","en":"Claim rate known in 2024","es":""},"value":"2","unit":"PERCENT"},{"label":{"fr":"","en":"Actual 2025 claims","es":""},"value":"41000","unit":"EUR"}],"steps":[{"id":"PROVISION_TO_RESTATE","label":{"fr":"","en":"Provision to restate","es":""},"answer":30000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"PROVISION_TO_RESTATE","meaning":{"fr":"","en":"Provision to restate","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"2024 sales","es":""},"value":1500000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Claim rate known in 2024","es":""},"value":2,"unit":"PERCENT"}],"result":30000,"unit":"EUR","rationale":{"fr":"","en":"Hindsight is not used to estimate the amounts of a prior period (IAS 8, para. 53): 1,500,000 × 2% = 30,000","es":""}}],"references":["REF.IAS8.53"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000320","standard_id":"IAS8","concept_ids":["IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"CALCULATION","context":"V1_VG.IAS8.000014","tested_point":"VG.IAS8.000014","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000016","section_id":"three-situations"},"references":["IAS 8 §53","IAS 8 §52"],"exercise":{"prompt":{"fr":"","en":"When restating 2024, Flairval must determine the write-down of {units} items at a unit cost of {unit_cost}. The price list in force at the end of 2024 and known when the accounts were finalised was {price_list_2024} per item, less {selling_costs} of selling costs. In 2025, they were sold off at {price_obtained_2025}. What write-down should be used for 2024?","es":""},"explanation":{"fr":"","en":"Only information of the time available at authorisation is used (IAS 8, para. 52), without hindsight (IAS 8, para. 53): net realisable value 45 − 5 = 40; write-down (48 − 40) × 2,000 = 16,000.","es":""},"common_error":{"fr":"","en":"Computing the write-down with the price obtained in 2025.","es":""},"format":"CALCULATION","placeholders":[{"id":"units","value":"2000","unit":"UNITS"},{"id":"unit_cost","value":"48","unit":"EUR"},{"id":"price_list_2024","value":"45","unit":"EUR"},{"id":"selling_costs","value":"5","unit":"EUR"},{"id":"price_obtained_2025","value":"30","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Number of items","es":""},"value":"2000","unit":"UNITS"},{"label":{"fr":"","en":"Unit cost","es":""},"value":"48","unit":"EUR"},{"label":{"fr":"","en":"Selling price known at the end of 2024","es":""},"value":"45","unit":"EUR"},{"label":{"fr":"","en":"Unit selling costs","es":""},"value":"5","unit":"EUR"},{"label":{"fr":"","en":"Price obtained in 2025","es":""},"value":"30","unit":"EUR"}],"steps":[{"id":"WRITE_DOWN_2024","label":{"fr":"","en":"2024 write-down","es":""},"answer":16000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"WRITE_DOWN_2024","meaning":{"fr":"","en":"2024 write-down","es":""},"expression":"(a - (b - c)) * d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Unit cost","es":""},"value":48,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Selling price known at the end of 2024","es":""},"value":45,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Unit selling costs","es":""},"value":5,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Number of items","es":""},"value":2000,"unit":"UNITS"}],"result":16000,"unit":"EUR"}],"rationale":{"fr":"","en":"Only information of the time available at authorisation is used (IAS 8, para. 52), without hindsight (IAS 8, para. 53): net realisable value 45 − 5 = 40","es":""},"references":["REF.IAS8.53","REF.IAS8.52"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000321","standard_id":"IAS8","concept_ids":["IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000321","tested_point":"QST.IAS8.000321","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000016","section_id":"three-situations"},"references":["IAS 8 §53"],"exercise":{"prompt":{"fr":"","en":"To restate a prior period, Girvois must estimate a liability at the relevant date. The file of the time used two scenarios (method provided by the case): {probability_a} for {amount_a} and {probability_b} for {amount_b}. It is now known that the outcome was {later_outcome}. What amount should be used for the prior period?","es":""},"explanation":{"fr":"","en":"Hindsight is ruled out (IAS 8, para. 53): the outcome known later is ignored. Weighting of the time: 50,000 × 70% + 10,000 × 30% = 38,000.","es":""},"format":"CALCULATION","placeholders":[{"id":"probability_a","value":"70","unit":"PERCENT"},{"id":"amount_a","value":"50000","unit":"EUR"},{"id":"probability_b","value":"30","unit":"PERCENT"},{"id":"amount_b","value":"10000","unit":"EUR"},{"id":"later_outcome","value":"0","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Probability of scenario A","es":""},"value":"70","unit":"PERCENT"},{"label":{"fr":"","en":"Amount of scenario A","es":""},"value":"50000","unit":"EUR"},{"label":{"fr":"","en":"Probability of scenario B","es":""},"value":"30","unit":"PERCENT"},{"label":{"fr":"","en":"Amount of scenario B","es":""},"value":"10000","unit":"EUR"},{"label":{"fr":"","en":"Outcome known later","es":""},"value":"0","unit":"EUR"}],"steps":[{"id":"ESTIMATE_FOR_PRIOR_PERIOD","label":{"fr":"","en":"Amount used for the prior period","es":""},"answer":38000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"ESTIMATE_FOR_PRIOR_PERIOD","meaning":{"fr":"","en":"Amount used for the prior period","es":""},"expression":"a * b + c * d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Amount of scenario A","es":""},"value":50000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Probability of scenario A","es":""},"value":70,"unit":"PERCENT"},{"symbol":"c","meaning":{"fr":"","en":"Amount of scenario B","es":""},"value":10000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Probability of scenario B","es":""},"value":30,"unit":"PERCENT"}],"result":38000,"unit":"EUR"}],"rationale":{"fr":"","en":"Hindsight is ruled out (IAS 8, para. 53): the outcome known later is ignored.","es":""},"references":["REF.IAS8.53"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000322","standard_id":"IAS8","concept_ids":["IAS8.IMPRACTICABILITY.ASSESSMENT","IAS8.ERRORS.RETROSPECTIVE_RESTATEMENT"],"dimension":"CALCULATION","context":"V1_QST.IAS8.000322","tested_point":"QST.IAS8.000322","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000015","section_id":"restatement-rule"},"references":["IAS 8 §45"],"exercise":{"prompt":{"fr":"","en":"Jaundore cannot determine the cumulative effect of an error at the beginning of 2025; reliable data exist only from 1 July 2024. The error has overstated profit by {monthly_error} a month since then (case data), i.e. {months_from_practicable_date} months in 2024. What restatement of the 2024 comparative is needed?","es":""},"explanation":{"fr":"","en":"The error is corrected prospectively from the earliest date practicable (IAS 8, para. 45): 2,500 × 6 = 15,000 for the restated part of 2024.","es":""},"format":"CALCULATION","placeholders":[{"id":"monthly_error","value":"2500","unit":"EUR"},{"id":"months_from_practicable_date","value":"6","unit":"MONTHS"}],"data":[{"label":{"fr":"","en":"Monthly effect of the error","es":""},"value":"2500","unit":"EUR"},{"label":{"fr":"","en":"Months since the practicable date","es":""},"value":"6","unit":"MONTHS"}],"steps":[{"id":"COMPARATIVE_RESTATEMENT","label":{"fr":"","en":"Restatement of the 2024 comparative","es":""},"answer":15000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"COMPARATIVE_RESTATEMENT","meaning":{"fr":"","en":"Restatement of the 2024 comparative","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Monthly effect of the error","es":""},"value":2500,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Months since the practicable date","es":""},"value":6,"unit":"MONTHS"}],"result":15000,"unit":"EUR","rationale":{"fr":"","en":"The error is corrected prospectively from the earliest date practicable (IAS 8, para. 45): 2,500 × 6 = 15,000 for the restated part of 2024.","es":""}}],"references":["REF.IAS8.45"]}},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000323","standard_id":"IAS8","concept_ids":["IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000323","tested_point":"QST.IAS8.000323","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000016","section_id":"three-situations"},"references":["IAS 8 §5"],"exercise":{"prompt":{"fr":"","en":"To restate 2022, Jirvard would need to know whether its management at the time intended to keep or sell a plot of land. No document establishes this and the managers have changed. What should be concluded?","es":""},"explanation":{"fr":"","en":"For a prior period, application is impracticable when it requires assumptions about what management's intent was at the time (IAS 8, para. 5).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Intent does not matter for the restatement.","es":""},"correct":false,"feedback":{"fr":"","en":"Intent determines the accounting treatment here.","es":""}},{"id":"B","text":{"fr":"","en":"Restatement is practicable, because the land still exists.","es":""},"correct":false,"feedback":{"fr":"","en":"The existence of the land says nothing about past intent.","es":""}},{"id":"C","text":{"fr":"","en":"Restatement is impracticable for 2022: it requires assumptions about management's past intent.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Current management may set the 2022 intent according to its present strategy.","es":""},"correct":false,"feedback":{"fr":"","en":"That would be hindsight applied to intentions.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000324","standard_id":"IAS8","concept_ids":["IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000324","tested_point":"QST.IAS8.000324","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000016","section_id":"three-situations"},"references":["IAS 8 §50"],"exercise":{"prompt":{"fr":"","en":"In 2024 a fire destroyed Jivorn's paper archives, the only source of the 2022 production data needed for a restatement; no backup exists. What should be concluded for 2022?","es":""},"explanation":{"fr":"","en":"It may be impracticable to adjust comparative information for a prior period, for example when data were not collected or cannot be recreated (IAS 8, para. 50).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Adjusting 2022 may be impracticable, since the data cannot be recreated.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Jivorn must give up any restatement, including for practicable periods.","es":""},"correct":false,"feedback":{"fr":"","en":"Practicable periods are still restated.","es":""}},{"id":"C","text":{"fr":"","en":"Jivorn must estimate the 2022 data from its 2025 production.","es":""},"correct":false,"feedback":{"fr":"","en":"That would be hindsight.","es":""}},{"id":"D","text":{"fr":"","en":"The loss of the archives has no effect on the restatement.","es":""},"correct":false,"feedback":{"fr":"","en":"Without data, 2022 cannot be adjusted.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000325","standard_id":"IAS8","concept_ids":["IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000325","tested_point":"QST.IAS8.000325","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000016","section_id":"three-situations"},"references":["IAS 8 §52"],"exercise":{"prompt":{"fr":"","en":"To restate 2023, Julborn would need to estimate the fair value of a complex instrument at the end of 2023. The only data available today mix 2023 parameters with later adjustments that cannot be separated. The estimate would be significant. What should be concluded?","es":""},"explanation":{"fr":"","en":"When it is impossible to distinguish, for significant estimates, information that reflects the circumstances of the time and would have been available when the statements were authorised, retrospective application is impracticable (IAS 8, para. 52).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Restatement is practicable if an expert validates the result.","es":""},"correct":false,"feedback":{"fr":"","en":"An expert's validation does not remove the impossibility of distinguishing.","es":""}},{"id":"B","text":{"fr":"","en":"Restatement is practicable: current data simply need to be used.","es":""},"correct":false,"feedback":{"fr":"","en":"Using current data would be hindsight.","es":""}},{"id":"C","text":{"fr":"","en":"Restating 2023 is impracticable, since information of the time cannot be distinguished.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Restatement is practicable, since the instrument still exists.","es":""},"correct":false,"feedback":{"fr":"","en":"The instrument's existence does not solve the information problem.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IAS8.000326","standard_id":"IAS8","concept_ids":["IAS8.IMPRACTICABILITY.ASSESSMENT"],"dimension":"APPLICATION","context":"V1_QST.IAS8.000326","tested_point":"QST.IAS8.000326","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IAS8","lesson_id":"LS.IAS8.000016","section_id":"three-situations"},"references":["IAS 8 §5","IAS 8 §51"],"exercise":{"prompt":{"fr":"","en":"Kymorne claims that restating 2024 is impracticable 'because the useful life that would have been used at the time would have to be estimated'. Yet the 2024 technical data are available. What should be concluded?","es":""},"explanation":{"fr":"","en":"Impracticability requires failure after every reasonable effort (IAS 8, para. 5); an estimate may be developed after the period, its objective remaining to reflect the circumstances of the time (IAS 8, para. 51).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Impracticability is established as soon as an estimate is needed.","es":""},"correct":false,"feedback":{"fr":"","en":"The need to estimate is not enough.","es":""}},{"id":"B","text":{"fr":"","en":"Impracticability is not established: an estimate based on the circumstances of the time remains possible.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Impracticability is established if the estimate is made in 2025.","es":""},"correct":false,"feedback":{"fr":"","en":"An estimate may be developed after the period.","es":""}},{"id":"D","text":{"fr":"","en":"Impracticability is established if the restatement reduces profit.","es":""},"correct":false,"feedback":{"fr":"","en":"The effect on profit is not a criterion.","es":""}}]},"scope":"CORE_STUDENT"}],"reviewTitles":{"LX.IAS8.000001":"IAS 8 objective and scope: policies, estimates, errors — The objective: relevance, reliability, comparability","LX.IAS8.000002":"IAS 8 objective and scope: policies, estimates, errors — The objective: relevance, reliability, comparability","LX.IAS8.000003":"IAS 8 objective and scope: policies, estimates, errors — Three questions every accountant asks","LX.IAS8.000004":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","LX.IAS8.000005":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","LX.IAS8.000006":"IAS 8 objective and scope: policies, estimates, errors — Tax effects: referral to IAS 12","LX.IAS8.000007":"IAS 8 objective and scope: policies, estimates, errors — Numeric example: the tax effect of a correction at Brennor","LX.IAS8.000008":"IAS 8 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transaction; the materiality threshold — The rule: the specific IFRS determines the policy","LX.IAS8.000024":"Applying the IFRS that addresses the transaction; the materiality threshold — The rule: the specific IFRS determines the policy","LX.IAS8.000025":"Applying the IFRS that addresses the transaction; the materiality threshold — The materiality threshold and its limits","LX.IAS8.000026":"Applying the IFRS that addresses the transaction; the materiality threshold — The materiality threshold and its limits","LX.IAS8.000027":"Applying the IFRS that addresses the transaction; the materiality threshold — Method: determining the policy for a transaction","LX.IAS8.000028":"Applying the IFRS that addresses the transaction; the materiality threshold — Example: Abrivel's capitalisation threshold policy","LX.IAS8.000029":"Applying the IFRS that addresses the transaction; the materiality threshold — Common mistakes","LX.IAS8.000030":"Applying the IFRS that addresses the transaction; the materiality threshold — The materiality threshold and its limits","LX.IAS8.000031":"In the absence of an IFRS: developing a policy by judgement — The objective: relevant and reliable information","LX.IAS8.000032":"In the absence of an IFRS: developing a policy by judgement — The order of mandatory sources","LX.IAS8.000033":"In the absence of an IFRS: developing a policy by judgement — The order of mandatory sources","LX.IAS8.000034":"In the absence of an IFRS: developing a policy by judgement — The objective: relevant and reliable information","LX.IAS8.000035":"In the absence of an IFRS: developing a policy by judgement — Additional sources","LX.IAS8.000036":"In the absence of an IFRS: developing a policy by judgement — The objective: relevant and reliable information","LX.IAS8.000037":"In the absence of an IFRS: developing a policy by judgement — Method: developing and documenting a policy","LX.IAS8.000038":"In the absence of an IFRS: developing a policy by judgement — Example: Belvanne's voluntary carbon credits","LX.IAS8.000039":"In the absence of an IFRS: developing a policy by judgement — Common mistakes","LX.IAS8.000040":"In the absence of an IFRS: developing a policy by judgement — Additional sources","LX.IAS8.000041":"In the absence of an IFRS: developing a policy by judgement — Judgement: how far to push the analogy?","LX.IAS8.000042":"Consistency of policies and categories — The consistency rule","LX.IAS8.000043":"Consistency of policies and categories — The consistency rule","LX.IAS8.000044":"Consistency of policies and categories — Categories provided by an IFRS","LX.IAS8.000045":"Consistency of policies and categories — Categories provided by an IFRS","LX.IAS8.000046":"Consistency of policies and categories — Example: Corbalis's review of policies","LX.IAS8.000047":"Consistency of policies and categories — Judgement: 'similar' or not?","LX.IAS8.000048":"When may an accounting policy change? — Only two cases","LX.IAS8.000049":"When may an accounting policy change? — Only two cases","LX.IAS8.000050":"When may an accounting policy change? — What is not a change in accounting policy","LX.IAS8.000051":"When may an accounting policy change? — What is not a change in accounting policy","LX.IAS8.000052":"When may an accounting policy change? — The special case of the revaluation model","LX.IAS8.000053":"When may an accounting policy change? — Numeric example: two cost formulas at Gemaris","LX.IAS8.000054":"When may an accounting policy change? — Numeric example: two cost formulas at Gemaris","LX.IAS8.000055":"When may an accounting policy change? — Method: testing a proposed change","LX.IAS8.000056":"When may an accounting policy change? — Common mistakes","LX.IAS8.000057":"When may an accounting policy change? — Judgement: demonstrating 'more relevant'","LX.IAS8.000058":"When may an accounting policy change? — The special case of the revaluation model","LX.IAS8.000059":"Applying a change: transitional provisions, voluntary change, early application — New IFRS: its transitional provisions first","LX.IAS8.000060":"Applying a change: transitional provisions, voluntary change, early application — New IFRS: its transitional provisions first","LX.IAS8.000061":"Applying a change: transitional provisions, voluntary change, early application — Early application is not a voluntary change","LX.IAS8.000062":"Applying a change: transitional provisions, voluntary change, early application — Example: three changes at Delvanne","LX.IAS8.000063":"Applying a change: transitional provisions, voluntary change, early application — Method: choosing the method of application","LX.IAS8.000064":"Applying a change: transitional provisions, voluntary change, early application — Common mistakes","LX.IAS8.000065":"Applying a change: transitional provisions, voluntary change, early application — New IFRS: its transitional provisions first","LX.IAS8.000066":"Applying a change: transitional provisions, voluntary change, early application — Judgement: 'required' or 'voluntary' change?","LX.IAS8.000067":"Retrospective application: opening equity and comparatives — The rule: opening balance of the earliest period presented and comparatives","LX.IAS8.000068":"Retrospective application: opening equity and comparatives — The rule: opening balance of the earliest period presented and comparatives","LX.IAS8.000069":"Retrospective application: opening equity and comparatives — Numeric example: Brennor changes its inventory cost formula","LX.IAS8.000070":"Retrospective application: opening equity and comparatives — Numeric example: Brennor changes its inventory cost formula","LX.IAS8.000071":"Retrospective application: opening equity and comparatives — The entry in the books of N","LX.IAS8.000072":"Retrospective application: opening equity and comparatives — The entry in the books of N","LX.IAS8.000073":"Retrospective application: opening equity and comparatives — Numeric example: Brennor changes its inventory cost formula","LX.IAS8.000074":"Retrospective application: opening equity and comparatives — Method: restatement in five steps","LX.IAS8.000075":"Retrospective application: opening equity and comparatives — Common mistakes","LX.IAS8.000076":"Retrospective application: opening equity and comparatives — The rule: opening balance of the earliest period presented and comparatives","LX.IAS8.000077":"Retrospective application: opening equity and comparatives — Rewriting the past with the new rule","LX.IAS8.000078":"Retrospective application: opening equity and comparatives — Judgement in restatement","LX.IAS8.000079":"Retrospective application: opening equity and comparatives — Common mistakes","LX.IAS8.000080":"Retrospective application: opening equity and comparatives — Numeric example: Brennor changes its inventory cost formula","LX.IAS8.000081":"Retrospective application: opening equity and comparatives — The rule: opening balance of the earliest period presented and comparatives","LX.IAS8.000082":"Limitations on retrospective application — The principle: retrospective unless impracticable","LX.IAS8.000083":"Limitations on retrospective application — Period-specific effects impracticable: the earliest practicable period","LX.IAS8.000084":"Limitations on retrospective application — Numeric example: Elzane can only go back to 1/1/N","LX.IAS8.000085":"Limitations on retrospective application — Cumulative effect impracticable: prospective from the earliest practicable date","LX.IAS8.000086":"Limitations on retrospective application — The principle: retrospective unless impracticable","LX.IAS8.000087":"Limitations on retrospective application — Method: finding the starting date","LX.IAS8.000088":"Limitations on retrospective application — Cumulative effect impracticable: prospective from the earliest practicable date","LX.IAS8.000089":"Limitations on retrospective application — Common mistakes","LX.IAS8.000090":"Limitations on retrospective application — Judgement: proving impracticability","LX.IAS8.000091":"Disclosures on changes in accounting policies — Initial application of an IFRS","LX.IAS8.000092":"Disclosures on changes in accounting policies — Voluntary change","LX.IAS8.000093":"Disclosures on changes in accounting policies — IFRS issued, not yet applied","LX.IAS8.000094":"Disclosures on changes in accounting policies — Example: Brennor's note","LX.IAS8.000095":"Disclosures on changes in accounting policies — IFRS issued, not yet applied","LX.IAS8.000096":"Disclosures on changes in accounting policies — Method: drafting the note","LX.IAS8.000097":"What is an accounting estimate? — Definition and origin","LX.IAS8.000098":"What is an accounting estimate? — Definition and origin","LX.IAS8.000099":"What is an accounting estimate? — Definition and origin","LX.IAS8.000100":"What is an accounting estimate? — Measurement techniques and inputs","LX.IAS8.000101":"What is an accounting estimate? — Definition and origin","LX.IAS8.000102":"What is an accounting estimate? — Definition and origin","LX.IAS8.000103":"What is an accounting estimate? — Example: net realisable value at Galvenne","LX.IAS8.000104":"What is an accounting estimate? — Method: breaking down an estimate","LX.IAS8.000105":"What is an accounting estimate? — Judgement at the heart of the estimate","LX.IAS8.000106":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","LX.IAS8.000107":"Policy, estimate or error? Classifying a change correctly — Measurement basis and the rule for doubtful cases","LX.IAS8.000108":"Policy, estimate or error? Classifying a change correctly — Measurement basis and the rule for doubtful cases","LX.IAS8.000109":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","LX.IAS8.000110":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","LX.IAS8.000111":"Policy, estimate or error? Classifying a change correctly — The outcome of a contingency","LX.IAS8.000112":"Policy, estimate or error? Classifying a change correctly — Method: a decision tree","LX.IAS8.000113":"Policy, estimate or error? Classifying a change correctly — Numeric example: what classification changes at Fennoria","LX.IAS8.000114":"Policy, estimate or error? Classifying a change correctly — Measurement basis and the rule for doubtful cases","LX.IAS8.000115":"Policy, estimate or error? Classifying a change correctly — Common mistakes","LX.IAS8.000116":"Policy, estimate or error? Classifying a change correctly — The outcome of a contingency","LX.IAS8.000117":"Policy, estimate or error? Classifying a change correctly — Judgement: error or revised estimate?","LX.IAS8.000118":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","LX.IAS8.000119":"Policy, estimate or error? Classifying a change correctly — Numeric example: what classification changes at Fennoria","LX.IAS8.000120":"Recognising a change in estimate and explaining it — The rule: prospective, in profit or loss","LX.IAS8.000121":"Recognising a change in estimate and explaining it — Numeric example: Brennor's machining line","LX.IAS8.000122":"Recognising a change in estimate and explaining it — Numeric example: Brennor's machining line","LX.IAS8.000123":"Recognising a change in estimate and explaining it — When the change concerns an asset, a liability or equity","LX.IAS8.000124":"Recognising a change in estimate and explaining it — The entries","LX.IAS8.000125":"Recognising a change in estimate and explaining it — The entries","LX.IAS8.000126":"Recognising a change in estimate and explaining it — The rule: prospective, in profit or loss","LX.IAS8.000127":"Recognising a change in estimate and explaining it — Common mistakes","LX.IAS8.000128":"Recognising a change in estimate and explaining it — Method: revising a depreciation plan","LX.IAS8.000129":"Recognising a change in estimate and explaining it — Numeric example: Brennor's machining line","LX.IAS8.000130":"Recognising a change in estimate and explaining it — When the change concerns an asset, a liability or equity","LX.IAS8.000131":"Recognising a change in estimate and explaining it — Judgement: quantifying the future","LX.IAS8.000132":"Recognising a change in estimate and explaining it — The rule: prospective, in profit or loss","LX.IAS8.000133":"Recognising a change in estimate and explaining it — Judgement: quantifying the future","LX.IAS8.000134":"Recognising a change in estimate and explaining it — What the notes say","LX.IAS8.000135":"Recognising a change in estimate and explaining it — What the notes say","LX.IAS8.000136":"Recognising a change in estimate and explaining it — What the notes say","LX.IAS8.000137":"Recognising a change in estimate and explaining it — What the notes say","LX.IAS8.000138":"Recognising a change in estimate and explaining it — What the notes say","LX.IAS8.000139":"Recognising a change in estimate and explaining it — Judgement: quantifying the future","LX.IAS8.000140":"What is an error? Current and prior period errors — What errors affect and when they prevent compliance","LX.IAS8.000141":"What is an error? Current and prior period errors — What errors affect and when they prevent compliance","LX.IAS8.000142":"What is an error? Current and prior period errors — What errors affect and when they prevent compliance","LX.IAS8.000143":"What is an error? Current and prior period errors — Current or prior period error: the time of discovery","LX.IAS8.000144":"What is an error? Current and prior period errors — What is not an error","LX.IAS8.000145":"What is an error? Current and prior period errors — What is not an error","LX.IAS8.000146":"What is an error? Current and prior period errors — Hastrel's entries","LX.IAS8.000147":"What is an error? Current and prior period errors — Method: diagnosing an anomaly","LX.IAS8.000148":"What is an error? Current and prior period errors — What errors affect and when they prevent compliance","LX.IAS8.000149":"What is an error? Current and prior period errors — Common mistakes","LX.IAS8.000150":"What is an error? Current and prior period errors — Judgement: material? intentional?","LX.IAS8.000151":"What is an error? Current and prior period errors — What is not an error","LX.IAS8.000152":"Correcting a prior period error: retrospective restatement and its disclosure — The rule: restate in the first set of statements authorised after discovery","LX.IAS8.000153":"Correcting a prior period error: retrospective restatement and its disclosure — The rule: restate in the first set of statements authorised after discovery","LX.IAS8.000154":"Correcting a prior period error: retrospective restatement and its disclosure — Outside profit or loss of the period of discovery","LX.IAS8.000155":"Correcting a prior period error: retrospective restatement and its disclosure — Numeric example: Brennor's forgotten depreciation","LX.IAS8.000156":"Correcting a prior period error: retrospective restatement and its disclosure — Numeric example: Brennor's forgotten depreciation","LX.IAS8.000157":"Correcting a prior period error: retrospective restatement and its disclosure — The entry in the books of N","LX.IAS8.000158":"Correcting a prior period error: retrospective restatement and its disclosure — The entry in the books of N","LX.IAS8.000159":"Correcting a prior period error: retrospective restatement and its disclosure — When full restatement is impracticable","LX.IAS8.000160":"Correcting a prior period error: retrospective restatement and its disclosure — Numeric example: Brennor's forgotten depreciation","LX.IAS8.000161":"Correcting a prior period error: retrospective restatement and its disclosure — Method: restatement step by step","LX.IAS8.000162":"Correcting a prior period error: retrospective restatement and its disclosure — Common mistakes","LX.IAS8.000163":"Correcting a prior period error: retrospective restatement and its disclosure — Outside profit or loss of the period of discovery","LX.IAS8.000164":"Correcting a prior period error: retrospective restatement and its disclosure — Numeric example: Brennor's forgotten depreciation","LX.IAS8.000165":"Correcting a prior period error: retrospective restatement and its disclosure — Judgement in restating an error","LX.IAS8.000166":"Correcting a prior period error: retrospective restatement and its disclosure — The rule: restate in the first set of statements authorised after discovery","LX.IAS8.000167":"Correcting a prior period error: retrospective restatement and its disclosure — Numeric example: Brennor's forgotten depreciation","LX.IAS8.000168":"Correcting a prior period error: retrospective restatement and its disclosure — Disclosures on the correction","LX.IAS8.000169":"Correcting a prior period error: retrospective restatement and its disclosure — Disclosures on the correction","LX.IAS8.000170":"Correcting a prior period error: retrospective restatement and its disclosure — Disclosures on the correction","LX.IAS8.000171":"Correcting a prior period error: retrospective restatement and its disclosure — Disclosures on the correction","LX.IAS8.000172":"Correcting a prior period error: retrospective restatement and its disclosure — Disclosures on the correction","LX.IAS8.000173":"Impracticability and the prohibition of hindsight — The three situations of impracticability","LX.IAS8.000174":"Impracticability and the prohibition of hindsight — The three situations of impracticability","LX.IAS8.000175":"Impracticability and the prohibition of hindsight — Sorting information and the prohibition of hindsight","LX.IAS8.000176":"Impracticability and the prohibition of hindsight — The three situations of impracticability","LX.IAS8.000177":"Impracticability and the prohibition of hindsight — Numeric example: Idravel's forgotten lawsuit","LX.IAS8.000178":"Impracticability and the prohibition of hindsight — Numeric example: Idravel's forgotten lawsuit","LX.IAS8.000179":"Impracticability and the prohibition of hindsight — The consequences of impracticability","LX.IAS8.000180":"Impracticability and the prohibition of hindsight — Common mistakes","LX.IAS8.000181":"Impracticability and the prohibition of hindsight — Judgement: the boundary of objectivity","LX.IAS8.000182":"IAS 8 from 2027: new title, objective, scope and definitions — What changes in 2027: a broader standard, not a new one","LX.IAS8.000183":"IAS 8 from 2027: new title, objective, scope and definitions — Scope: the basis of preparation on top of the four subjects","LX.IAS8.000184":"IAS 8 from 2027: new title, objective, scope and definitions — Scope: the basis of preparation on top of the four subjects","LX.IAS8.000185":"IAS 8 from 2027: new title, objective, scope and definitions — The definitions in paragraph 5: only one changes source","LX.IAS8.000186":"IAS 8 from 2027: new title, objective, scope and definitions — Which version applies?","LX.IAS8.000187":"IAS 8 from 2027: new title, objective, scope and definitions — Which version applies?","LX.IAS8.000188":"Basis of preparation (1): fair presentation, compliance with IFRS and departure — Fair presentation: the aim of everything else","LX.IAS8.000189":"Basis of preparation (1): fair presentation, compliance with IFRS and departure — Statement of compliance: all or nothing","LX.IAS8.000190":"Basis of preparation (1): fair presentation, compliance with IFRS and departure — Statement of compliance: all or nothing","LX.IAS8.000191":"Basis of preparation (1): fair presentation, compliance with IFRS and departure — Departure: extremely rare and tightly framed","LX.IAS8.000192":"Basis of preparation (1): fair presentation, compliance with IFRS and departure — Departure: extremely rare and tightly framed","LX.IAS8.000193":"Basis of preparation (1): fair presentation, compliance with IFRS and departure — Judgement: misleading must be shown","LX.IAS8.000194":"Basis of preparation (1): fair presentation, compliance with IFRS and departure — Statement of compliance: all or nothing","LX.IAS8.000195":"Basis of preparation (2): going concern and the accrual basis — Why going concern matters","LX.IAS8.000196":"Basis of preparation (2): going concern and the accrual basis — Paragraph 6K: the basis, the uncertainties, the disclosures","LX.IAS8.000197":"Basis of preparation (2): going concern and the accrual basis — Paragraph 6L: at least twelve months","LX.IAS8.000198":"Basis of preparation (2): going concern and the accrual basis — Paragraphs 6M and 6N: the accrual basis","LX.IAS8.000199":"Basis of preparation (2): going concern and the accrual basis — Paragraphs 6M and 6N: the accrual basis","LX.IAS8.000200":"Basis of preparation (2): going concern and the accrual basis — Paragraph 6K: the basis, the uncertainties, the disclosures","LX.IAS8.000201":"Basis of preparation (2): going concern and the accrual basis — The going concern judgement","LX.IAS8.000202":"Material accounting policy information and judgements (paras. 27A to 27I) — Say what matters, not copy the standards","LX.IAS8.000203":"Material accounting policy information and judgements (paras. 27A to 27I) — Say what matters, not copy the standards","LX.IAS8.000204":"Material accounting policy information and judgements (paras. 27A to 27I) — When is the information material?","LX.IAS8.000205":"Material accounting policy information and judgements (paras. 27A to 27I) — When is the information material?","LX.IAS8.000206":"Material accounting policy information and judgements (paras. 27A to 27I) — Judgements in applying policies","LX.IAS8.000207":"Material accounting policy information and judgements (paras. 27A to 27I) — Judgements in applying policies","LX.IAS8.000208":"Material accounting policy information and judgements (paras. 27A to 27I) — Judgements in applying policies","LX.IAS8.000209":"Sources of estimation uncertainty (paras. 31A to 31I) — Warn users about fragile amounts","LX.IAS8.000210":"Sources of estimation uncertainty (paras. 31A to 31I) — Warn users about fragile amounts","LX.IAS8.000211":"Sources of estimation uncertainty (paras. 31A to 31I) — What to disclose, and what is excluded","LX.IAS8.000212":"Sources of estimation uncertainty (paras. 31A to 31I) — What to disclose, and what is excluded","LX.IAS8.000213":"Sources of estimation uncertainty (paras. 31A to 31I) — What does not change: changes in estimates","LX.IAS8.000214":"Sources of estimation uncertainty (paras. 31A to 31I) — Example: the note on a lawsuit","QST.IAS8.000001":"IAS 8 objective and scope: policies, estimates, errors — The objective: relevance, reliability, comparability","QST.IAS8.000002":"IAS 8 objective and scope: policies, estimates, errors — The objective: relevance, reliability, comparability","QST.IAS8.000003":"IAS 8 objective and scope: policies, estimates, errors — The objective: relevance, reliability, comparability","QST.IAS8.000004":"IAS 8 objective and scope: policies, estimates, errors — The objective: relevance, reliability, comparability","QST.IAS8.000005":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","QST.IAS8.000006":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","QST.IAS8.000007":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","QST.IAS8.000008":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","QST.IAS8.000009":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","QST.IAS8.000010":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","QST.IAS8.000011":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","QST.IAS8.000012":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","QST.IAS8.000013":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","QST.IAS8.000014":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","QST.IAS8.000015":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","QST.IAS8.000016":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","QST.IAS8.000017":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","QST.IAS8.000018":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","QST.IAS8.000022":"The vocabulary: policy, estimate, error, retrospective, prospective, impracticable — Accounting policies and accounting estimates","QST.IAS8.000023":"The vocabulary: policy, estimate, error, retrospective, prospective, impracticable — Accounting policies and accounting estimates","QST.IAS8.000024":"The vocabulary: policy, estimate, error, retrospective, prospective, impracticable — Accounting policies and accounting estimates","QST.IAS8.000025":"The vocabulary: policy, estimate, error, retrospective, prospective, impracticable — Accounting policies and accounting estimates","QST.IAS8.000026":"The vocabulary: policy, estimate, error, retrospective, prospective, impracticable — Accounting policies and accounting estimates","QST.IAS8.000027":"The vocabulary: policy, estimate, error, retrospective, prospective, impracticable — Accounting policies and accounting estimates","QST.IAS8.000028":"The vocabulary: policy, estimate, error, retrospective, prospective, impracticable — Accounting policies and accounting estimates","QST.IAS8.000029":"The vocabulary: policy, estimate, error, retrospective, prospective, impracticable — Accounting policies and accounting estimates","QST.IAS8.000030":"The vocabulary: policy, estimate, error, retrospective, prospective, impracticable — Accounting policies and accounting estimates","QST.IAS8.000031":"The vocabulary: policy, estimate, error, retrospective, prospective, impracticable — Accounting policies and accounting estimates","QST.IAS8.000034":"The vocabulary: policy, estimate, error, retrospective, prospective, impracticable — Accounting policies and accounting estimates","QST.IAS8.000035":"The vocabulary: policy, estimate, error, retrospective, prospective, impracticable — Accounting policies and accounting estimates","QST.IAS8.000036":"The vocabulary: policy, estimate, error, retrospective, prospective, impracticable — Accounting policies and accounting estimates","QST.IAS8.000037":"Applying the IFRS that addresses the transaction; the materiality threshold — The rule: the specific IFRS determines the policy","QST.IAS8.000038":"Applying the IFRS that addresses the transaction; the materiality threshold — The rule: the specific IFRS determines the policy","QST.IAS8.000039":"Applying the IFRS that addresses the transaction; the materiality threshold — The rule: the specific IFRS determines the policy","QST.IAS8.000040":"Applying the IFRS that addresses the transaction; the materiality threshold — The rule: the specific IFRS determines the policy","QST.IAS8.000041":"Applying the IFRS that addresses the transaction; the materiality threshold — The rule: the specific IFRS determines the policy","QST.IAS8.000042":"Applying the IFRS that addresses the transaction; the materiality threshold — The rule: the specific IFRS determines the policy","QST.IAS8.000043":"Applying the IFRS that addresses the transaction; the materiality threshold — The rule: the specific IFRS determines the policy","QST.IAS8.000044":"Applying the IFRS that addresses the transaction; the materiality threshold — The rule: the specific IFRS determines the policy","QST.IAS8.000045":"Applying the IFRS that addresses the transaction; the materiality threshold — The rule: the specific IFRS determines the policy","QST.IAS8.000046":"Applying the IFRS that addresses the transaction; the materiality threshold — The rule: the specific IFRS determines the policy","QST.IAS8.000047":"Applying the IFRS that addresses the transaction; the materiality threshold — The rule: the specific IFRS determines the policy","QST.IAS8.000048":"Applying the IFRS that addresses the transaction; the materiality threshold — The rule: the specific IFRS determines the policy","QST.IAS8.000049":"Applying the IFRS that addresses the transaction; the materiality threshold — The rule: the specific IFRS determines the policy","QST.IAS8.000050":"Applying the IFRS that addresses the transaction; the materiality threshold — The rule: the specific IFRS determines the policy","QST.IAS8.000053":"In the absence of an IFRS: developing a policy by judgement — The objective: relevant and reliable information","QST.IAS8.000054":"In the absence of an IFRS: developing a policy by judgement — The objective: relevant and reliable information","QST.IAS8.000055":"In the absence of an IFRS: developing a policy by judgement — The objective: relevant and reliable information","QST.IAS8.000056":"In the absence of an IFRS: developing a policy by judgement — The objective: relevant and reliable information","QST.IAS8.000057":"In the absence of an IFRS: developing a policy by judgement — The objective: relevant and reliable information","QST.IAS8.000058":"In the absence of an IFRS: developing a policy by judgement — The objective: relevant and reliable information","QST.IAS8.000059":"In the absence of an IFRS: developing a policy by judgement — The objective: relevant and reliable information","QST.IAS8.000060":"In the absence of an IFRS: developing a policy by judgement — The objective: relevant and reliable information","QST.IAS8.000061":"In the absence of an IFRS: developing a policy by judgement — The objective: relevant and reliable information","QST.IAS8.000064":"In the absence of an IFRS: developing a policy by judgement — The objective: relevant and reliable information","QST.IAS8.000065":"In the absence of an IFRS: developing a policy by judgement — The objective: relevant and reliable information","QST.IAS8.000066":"In the absence of an IFRS: developing a policy by judgement — The objective: relevant and reliable information","QST.IAS8.000067":"In the absence of an IFRS: developing a policy by judgement — The objective: relevant and reliable information","QST.IAS8.000068":"In the absence of an IFRS: developing a policy by judgement — The objective: relevant and reliable information","QST.IAS8.000069":"In the absence of an IFRS: developing a policy by judgement — The objective: relevant and reliable information","QST.IAS8.000073":"Consistency of policies and categories — The consistency rule","QST.IAS8.000074":"Consistency of policies and categories — The consistency rule","QST.IAS8.000075":"Consistency of policies and categories — The consistency rule","QST.IAS8.000076":"Consistency of policies and categories — The consistency rule","QST.IAS8.000077":"Consistency of policies and categories — The consistency rule","QST.IAS8.000078":"Consistency of policies and categories — The consistency rule","QST.IAS8.000079":"Consistency of policies and categories — The consistency rule","QST.IAS8.000080":"Consistency of policies and categories — The consistency rule","QST.IAS8.000081":"Consistency of policies and categories — The consistency rule","QST.IAS8.000082":"When may an accounting policy change? — Only two cases","QST.IAS8.000083":"When may an accounting policy change? — Only two cases","QST.IAS8.000084":"When may an accounting policy change? — Only two cases","QST.IAS8.000085":"When may an accounting policy change? — Only two cases","QST.IAS8.000086":"When may an accounting policy change? — Only two cases","QST.IAS8.000087":"When may an accounting policy change? — Only two cases","QST.IAS8.000088":"When may an accounting policy change? — Only two cases","QST.IAS8.000089":"When may an accounting policy change? — Only two cases","QST.IAS8.000090":"When may an accounting policy change? — Only two cases","QST.IAS8.000091":"When may an accounting policy change? — Only two cases","QST.IAS8.000092":"When may an accounting policy change? — Only two cases","QST.IAS8.000093":"When may an accounting policy change? — Only two cases","QST.IAS8.000094":"When may an accounting policy change? — Only two cases","QST.IAS8.000095":"When may an accounting policy change? — Only two cases","QST.IAS8.000096":"When may an accounting policy change? — Only two cases","QST.IAS8.000097":"When may an accounting policy change? — Only two cases","QST.IAS8.000098":"When may an accounting policy change? — Only two cases","QST.IAS8.000101":"Applying a change: transitional provisions, voluntary change, early application — New IFRS: its transitional provisions first","QST.IAS8.000102":"Applying a change: transitional provisions, voluntary change, early application — New IFRS: its transitional provisions first","QST.IAS8.000103":"Applying a change: transitional provisions, voluntary change, early application — New IFRS: its transitional provisions first","QST.IAS8.000104":"Applying a change: transitional provisions, voluntary change, early application — New IFRS: its transitional provisions first","QST.IAS8.000105":"Applying a change: transitional provisions, voluntary change, early application — New IFRS: its transitional provisions first","QST.IAS8.000106":"Applying a change: transitional provisions, voluntary change, early application — New IFRS: its transitional provisions first","QST.IAS8.000107":"Applying a change: transitional provisions, voluntary change, early application — New IFRS: its transitional provisions first","QST.IAS8.000108":"Applying a change: transitional provisions, voluntary change, early application — New IFRS: its transitional provisions first","QST.IAS8.000109":"Applying a change: transitional provisions, voluntary change, early application — New IFRS: its transitional provisions first","QST.IAS8.000110":"Applying a change: transitional provisions, voluntary change, early application — New IFRS: its transitional provisions first","QST.IAS8.000111":"Applying a change: transitional provisions, voluntary change, early application — New IFRS: its transitional provisions first","QST.IAS8.000112":"Applying a change: transitional provisions, voluntary change, early application — New IFRS: its transitional provisions first","QST.IAS8.000113":"Applying a change: transitional provisions, voluntary change, early application — New IFRS: its transitional provisions first","QST.IAS8.000114":"Applying a change: transitional provisions, voluntary change, early application — New IFRS: its transitional provisions first","QST.IAS8.000115":"Retrospective application: opening equity and comparatives — The rule: opening balance of the earliest period presented and comparatives","QST.IAS8.000116":"Retrospective application: opening equity and comparatives — The rule: opening balance of the earliest period presented and comparatives","QST.IAS8.000117":"Retrospective application: opening equity and comparatives — The rule: opening balance of the earliest period presented and comparatives","QST.IAS8.000118":"Retrospective application: opening equity and comparatives — The rule: opening balance of the earliest period presented and comparatives","QST.IAS8.000119":"Retrospective application: opening equity and comparatives — The rule: opening balance of the earliest period presented and comparatives","QST.IAS8.000120":"Retrospective application: opening equity and comparatives — The rule: opening balance of the earliest period presented and comparatives","QST.IAS8.000121":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","QST.IAS8.000122":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","QST.IAS8.000123":"Retrospective application: opening equity and comparatives — The rule: opening balance of the earliest period presented and comparatives","QST.IAS8.000124":"Retrospective application: opening equity and comparatives — The rule: opening balance of the earliest period presented and comparatives","QST.IAS8.000125":"Retrospective application: opening equity and comparatives — The rule: opening balance of the earliest period presented and comparatives","QST.IAS8.000126":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","QST.IAS8.000127":"Retrospective application: opening equity and comparatives — The rule: opening balance of the earliest period presented and comparatives","QST.IAS8.000128":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","QST.IAS8.000129":"Retrospective application: opening equity and comparatives — The rule: opening balance of the earliest period presented and comparatives","QST.IAS8.000130":"Retrospective application: opening equity and comparatives — The rule: opening balance of the earliest period presented and comparatives","QST.IAS8.000131":"Retrospective application: opening equity and comparatives — The rule: opening balance of the earliest period presented and comparatives","QST.IAS8.000132":"Retrospective application: opening equity and comparatives — The rule: opening balance of the earliest period presented and comparatives","QST.IAS8.000139":"Retrospective application: opening equity and comparatives — The rule: opening balance of the earliest period presented and comparatives","QST.IAS8.000140":"Retrospective application: opening equity and comparatives — The rule: opening balance of the earliest period presented and comparatives","QST.IAS8.000141":"Retrospective application: opening equity and comparatives — The rule: opening balance of the earliest period presented and comparatives","QST.IAS8.000142":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","QST.IAS8.000143":"Limitations on retrospective application — The principle: retrospective unless impracticable","QST.IAS8.000144":"Limitations on retrospective application — The principle: retrospective unless impracticable","QST.IAS8.000145":"Limitations on retrospective application — The principle: retrospective unless impracticable","QST.IAS8.000146":"Limitations on retrospective application — The principle: retrospective unless impracticable","QST.IAS8.000147":"Limitations on retrospective application — The principle: retrospective unless impracticable","QST.IAS8.000148":"Limitations on retrospective application — The principle: retrospective unless impracticable","QST.IAS8.000149":"Limitations on retrospective application — The principle: retrospective unless impracticable","QST.IAS8.000150":"Limitations on retrospective application — The principle: retrospective unless impracticable","QST.IAS8.000151":"Limitations on retrospective application — The principle: retrospective unless impracticable","QST.IAS8.000152":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","QST.IAS8.000153":"Limitations on retrospective application — The principle: retrospective unless impracticable","QST.IAS8.000154":"Limitations on retrospective application — The principle: retrospective unless impracticable","QST.IAS8.000155":"Limitations on retrospective application — The principle: retrospective unless impracticable","QST.IAS8.000156":"Limitations on retrospective application — The principle: retrospective unless impracticable","QST.IAS8.000157":"Limitations on retrospective application — The principle: retrospective unless impracticable","QST.IAS8.000160":"Disclosures on changes in accounting policies — Initial application of an IFRS","QST.IAS8.000161":"Disclosures on changes in accounting policies — Initial application of an IFRS","QST.IAS8.000162":"Disclosures on changes in accounting policies — Initial application of an IFRS","QST.IAS8.000163":"Disclosures on changes in accounting policies — Initial application of an IFRS","QST.IAS8.000164":"Disclosures on changes in accounting policies — Initial application of an IFRS","QST.IAS8.000165":"Disclosures on changes in accounting policies — Initial application of an IFRS","QST.IAS8.000166":"Disclosures on changes in accounting policies — Initial application of an IFRS","QST.IAS8.000167":"Disclosures on changes in accounting policies — Initial application of an IFRS","QST.IAS8.000168":"Disclosures on changes in accounting policies — Initial application of an IFRS","QST.IAS8.000169":"Disclosures on changes in accounting policies — Initial application of an IFRS","QST.IAS8.000170":"What is an accounting estimate? — Definition and origin","QST.IAS8.000171":"What is an accounting estimate? — Definition and origin","QST.IAS8.000172":"What is an accounting estimate? — Definition and origin","QST.IAS8.000173":"What is an accounting estimate? — Definition and origin","QST.IAS8.000174":"What is an accounting estimate? — Definition and origin","QST.IAS8.000175":"What is an accounting estimate? — Definition and origin","QST.IAS8.000176":"What is an accounting estimate? — Definition and origin","QST.IAS8.000177":"What is an accounting estimate? — Definition and origin","QST.IAS8.000178":"What is an accounting estimate? — Definition and origin","QST.IAS8.000179":"What is an accounting estimate? — Definition and origin","QST.IAS8.000180":"What is an accounting estimate? — Definition and origin","QST.IAS8.000181":"What is an accounting estimate? — Definition and origin","QST.IAS8.000182":"What is an accounting estimate? — Definition and origin","QST.IAS8.000183":"What is an accounting estimate? — Definition and origin","QST.IAS8.000184":"What is an accounting estimate? — Definition and origin","QST.IAS8.000187":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","QST.IAS8.000188":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","QST.IAS8.000189":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","QST.IAS8.000190":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","QST.IAS8.000191":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","QST.IAS8.000192":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","QST.IAS8.000193":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","QST.IAS8.000194":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","QST.IAS8.000195":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","QST.IAS8.000196":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","QST.IAS8.000197":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","QST.IAS8.000198":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","QST.IAS8.000199":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","QST.IAS8.000200":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","QST.IAS8.000201":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","QST.IAS8.000202":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","QST.IAS8.000203":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","QST.IAS8.000204":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","QST.IAS8.000205":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","QST.IAS8.000206":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","QST.IAS8.000207":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","QST.IAS8.000208":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","QST.IAS8.000209":"Policy, estimate or error? Classifying a change correctly — The change in estimate: forward-looking by nature","QST.IAS8.000213":"Recognising a change in estimate and explaining it — The rule: prospective, in profit or loss","QST.IAS8.000214":"Recognising a change in estimate and explaining it — The rule: prospective, in profit or loss","QST.IAS8.000215":"Recognising a change in estimate and explaining it — The rule: prospective, in profit or loss","QST.IAS8.000216":"Recognising a change in estimate and explaining it — The rule: prospective, in profit or loss","QST.IAS8.000217":"Recognising a change in estimate and explaining it — The rule: prospective, in profit or loss","QST.IAS8.000218":"Recognising a change in estimate and explaining it — The rule: prospective, in profit or loss","QST.IAS8.000219":"Recognising a change in estimate and explaining it — The rule: prospective, in profit or loss","QST.IAS8.000220":"Recognising a change in estimate and explaining it — The rule: prospective, in profit or loss","QST.IAS8.000221":"Recognising a change in estimate and explaining it — The rule: prospective, in profit or loss","QST.IAS8.000222":"Recognising a change in estimate and explaining it — The rule: prospective, in profit or loss","QST.IAS8.000223":"Recognising a change in estimate and explaining it — The rule: prospective, in profit or loss","QST.IAS8.000224":"Recognising a change in estimate and explaining it — The rule: prospective, in profit or loss","QST.IAS8.000225":"Recognising a change in estimate and explaining it — The rule: prospective, in profit or loss","QST.IAS8.000226":"Recognising a change in estimate and explaining it — The rule: prospective, in profit or loss","QST.IAS8.000232":"Recognising a change in estimate and explaining it — The rule: prospective, in profit or loss","QST.IAS8.000233":"Recognising a change in estimate and explaining it — The rule: prospective, in profit or loss","QST.IAS8.000234":"Recognising a change in estimate and explaining it — The rule: prospective, in profit or loss","QST.IAS8.000235":"Recognising a change in estimate and explaining it — The rule: prospective, in profit or loss","QST.IAS8.000236":"Recognising a change in estimate and explaining it — The rule: prospective, in profit or loss","QST.IAS8.000237":"Recognising a change in estimate and explaining it — The rule: prospective, in profit or loss","QST.IAS8.000238":"Recognising a change in estimate and explaining it — What the notes say","QST.IAS8.000239":"Recognising a change in estimate and explaining it — What the notes say","QST.IAS8.000240":"Recognising a change in estimate and explaining it — What the notes say","QST.IAS8.000241":"Recognising a change in estimate and explaining it — What the notes say","QST.IAS8.000242":"Recognising a change in estimate and explaining it — What the notes say","QST.IAS8.000243":"Recognising a change in estimate and explaining it — What the notes say","QST.IAS8.000244":"Recognising a change in estimate and explaining it — What the notes say","QST.IAS8.000245":"Recognising a change in estimate and explaining it — What the notes say","QST.IAS8.000246":"Recognising a change in estimate and explaining it — What the notes say","QST.IAS8.000247":"Recognising a change in estimate and explaining it — What the notes say","QST.IAS8.000248":"What is an error? Current and prior period errors — What errors affect and when they prevent compliance","QST.IAS8.000249":"What is an error? Current and prior period errors — What errors affect and when they prevent compliance","QST.IAS8.000250":"What is an error? Current and prior period errors — What errors affect and when they prevent compliance","QST.IAS8.000251":"What is an error? Current and prior period errors — What errors affect and when they prevent compliance","QST.IAS8.000252":"What is an error? Current and prior period errors — What errors affect and when they prevent compliance","QST.IAS8.000253":"What is an error? Current and prior period errors — What errors affect and when they prevent compliance","QST.IAS8.000254":"What is an error? Current and prior period errors — What errors affect and when they prevent compliance","QST.IAS8.000255":"What is an error? Current and prior period errors — What errors affect and when they prevent compliance","QST.IAS8.000256":"What is an error? Current and prior period errors — What errors affect and when they prevent compliance","QST.IAS8.000257":"What is an error? Current and prior period errors — What errors affect and when they prevent compliance","QST.IAS8.000258":"What is an error? Current and prior period errors — What errors affect and when they prevent compliance","QST.IAS8.000259":"What is an error? Current and prior period errors — What errors affect and when they prevent compliance","QST.IAS8.000260":"What is an error? Current and prior period errors — What errors affect and when they prevent compliance","QST.IAS8.000261":"What is an error? Current and prior period errors — What errors affect and when they prevent compliance","QST.IAS8.000262":"What is an error? Current and prior period errors — What errors affect and when they prevent compliance","QST.IAS8.000263":"What is an error? Current and prior period errors — What errors affect and when they prevent compliance","QST.IAS8.000264":"What is an error? Current and prior period errors — What errors affect and when they prevent compliance","QST.IAS8.000265":"What is an error? Current and prior period errors — What errors affect and when they prevent compliance","QST.IAS8.000266":"What is an error? Current and prior period errors — What errors affect and when they prevent compliance","QST.IAS8.000267":"What is an error? Current and prior period errors — What errors affect and when they prevent compliance","QST.IAS8.000268":"What is an error? Current and prior period errors — What errors affect and when they prevent compliance","QST.IAS8.000271":"Correcting a prior period error: retrospective restatement and its disclosure — The rule: restate in the first set of statements authorised after discovery","QST.IAS8.000272":"Correcting a prior period error: retrospective restatement and its disclosure — The rule: restate in the first set of statements authorised after discovery","QST.IAS8.000273":"Correcting a prior period error: retrospective restatement and its disclosure — The rule: restate in the first set of statements authorised after discovery","QST.IAS8.000274":"Correcting a prior period error: retrospective restatement and its disclosure — The rule: restate in the first set of statements authorised after discovery","QST.IAS8.000275":"Correcting a prior period error: retrospective restatement and its disclosure — The rule: restate in the first set of statements authorised after discovery","QST.IAS8.000276":"Correcting a prior period error: retrospective restatement and its disclosure — The rule: restate in the first set of statements authorised after discovery","QST.IAS8.000277":"Correcting a prior period error: retrospective restatement and its disclosure — The rule: restate in the first set of statements authorised after discovery","QST.IAS8.000278":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","QST.IAS8.000279":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","QST.IAS8.000280":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","QST.IAS8.000281":"Correcting a prior period error: retrospective restatement and its disclosure — The rule: restate in the first set of statements authorised after discovery","QST.IAS8.000282":"Correcting a prior period error: retrospective restatement and its disclosure — The rule: restate in the first set of statements authorised after discovery","QST.IAS8.000283":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","QST.IAS8.000284":"Correcting a prior period error: retrospective restatement and its disclosure — The rule: restate in the first set of statements authorised after discovery","QST.IAS8.000285":"Correcting a prior period error: retrospective restatement and its disclosure — The rule: restate in the first set of statements authorised after discovery","QST.IAS8.000286":"Correcting a prior period error: retrospective restatement and its disclosure — The rule: restate in the first set of statements authorised after discovery","QST.IAS8.000287":"Correcting a prior period error: retrospective restatement and its disclosure — The rule: restate in the first set of statements authorised after discovery","QST.IAS8.000288":"Correcting a prior period error: retrospective restatement and its disclosure — The rule: restate in the first set of statements authorised after discovery","QST.IAS8.000289":"IAS 8 objective and scope: policies, estimates, errors — The scope: four situations","QST.IAS8.000290":"Correcting a prior period error: retrospective restatement and its disclosure — The rule: restate in the first set of statements authorised after discovery","QST.IAS8.000298":"Correcting a prior period error: retrospective restatement and its disclosure — The rule: restate in the first set of statements authorised after discovery","QST.IAS8.000299":"Correcting a prior period error: retrospective restatement and its disclosure — The rule: restate in the first set of statements authorised after discovery","QST.IAS8.000300":"Correcting a prior period error: retrospective restatement and its disclosure — The rule: restate in the first set of statements authorised after discovery","QST.IAS8.000301":"Correcting a prior period error: retrospective restatement and its disclosure — The rule: restate in the first set of statements authorised after discovery","QST.IAS8.000302":"Correcting a prior period error: retrospective restatement and its disclosure — The rule: restate in the first set of statements authorised after discovery","QST.IAS8.000303":"Correcting a prior period error: retrospective restatement and its disclosure — Disclosures on the correction","QST.IAS8.000304":"Correcting a prior period error: retrospective restatement and its disclosure — Disclosures on the correction","QST.IAS8.000305":"Correcting a prior period error: retrospective restatement and its disclosure — Disclosures on the correction","QST.IAS8.000306":"Correcting a prior period error: retrospective restatement and its disclosure — Disclosures on the correction","QST.IAS8.000307":"Correcting a prior period error: retrospective restatement and its disclosure — Disclosures on the correction","QST.IAS8.000308":"Correcting a prior period error: retrospective restatement and its disclosure — Disclosures on the correction","QST.IAS8.000309":"Correcting a prior period error: retrospective restatement and its disclosure — Disclosures on the correction","QST.IAS8.000310":"Correcting a prior period error: retrospective restatement and its disclosure — Disclosures on the correction","QST.IAS8.000311":"Correcting a prior period error: retrospective restatement and its disclosure — Disclosures on the correction","QST.IAS8.000312":"Impracticability and the prohibition of hindsight — The three situations of impracticability","QST.IAS8.000313":"Impracticability and the prohibition of hindsight — The three situations of impracticability","QST.IAS8.000314":"Impracticability and the prohibition of hindsight — The three situations of impracticability","QST.IAS8.000315":"Impracticability and the prohibition of hindsight — The three situations of impracticability","QST.IAS8.000316":"Impracticability and the prohibition of hindsight — The three situations of impracticability","QST.IAS8.000317":"Impracticability and the prohibition of hindsight — The three situations of impracticability","QST.IAS8.000318":"Impracticability and the prohibition of hindsight — The three situations of impracticability","QST.IAS8.000319":"Impracticability and the prohibition of hindsight — The three situations of impracticability","QST.IAS8.000320":"Impracticability and the prohibition of hindsight — The three situations of impracticability","QST.IAS8.000321":"Impracticability and the prohibition of hindsight — The three situations of impracticability","QST.IAS8.000322":"Correcting a prior period error: retrospective restatement and its disclosure — The rule: restate in the first set of statements authorised after discovery","QST.IAS8.000323":"Impracticability and the prohibition of hindsight — The three situations of impracticability","QST.IAS8.000324":"Impracticability and the prohibition of hindsight — The three situations of impracticability","QST.IAS8.000325":"Impracticability and the prohibition of hindsight — The three situations of impracticability","QST.IAS8.000326":"Impracticability and the prohibition of hindsight — The three situations of impracticability"}}