{"entries":[{"key":"LX.IFRS12.000001","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SCOPE.APPLICATION"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"OBJECTIVE_STATEMENT","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IFRS12.000001","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000001","section_id":"rule-objective"},"references":["IFRS 12 §1"],"exercise":{"prompt":{"fr":"","en":"IFRS 12 asks for information that lets users evaluate the nature of interests in other entities, the associated risks and their financial effects.","es":""},"explanation":{"fr":"","en":"This is the objective of IFRS 12 (IFRS 12, para. 1).","es":""},"common_error":{"fr":"","en":"Taking IFRS 12 for a recognition standard.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000002","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SCOPE.APPLICATION"],"dimension":"RECOGNITION","format":"MATCHING","context":"FINANCE","tested_point":"INTEREST_TO_DISCLOSURE_FAMILY","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000001","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000001","section_id":"example"},"references":["IFRS 12 §1","IFRS 12 §10","IFRS 12 §21","IFRS 12 §24"],"exercise":{"prompt":{"fr":"","en":"Match each interest of the Valdis group to the family of IFRS 12 disclosures that concerns it.","es":""},"explanation":{"fr":"","en":"Subsidiaries (IFRS 12, para. 10), joint arrangements and associates (IFRS 12, para. 21), unconsolidated structured entities (IFRS 12, para. 24).","es":""},"common_error":{"fr":"","en":"Placing an uncontrolled securitisation vehicle among the subsidiaries.","es":""},"format":"MATCHING","left":[{"id":"l1","text":{"fr":"","en":"Company held at 75% and controlled","es":""}},{"id":"l2","text":{"fr":"","en":"Two-party arrangement with joint control","es":""}},{"id":"l3","text":{"fr":"","en":"Uncontrolled securitisation vehicle in which the group has invested","es":""}}],"right":[{"id":"r3","text":{"fr":"","en":"Information on unconsolidated structured entities","es":""}},{"id":"r1","text":{"fr":"","en":"Information on subsidiaries","es":""}},{"id":"r2","text":{"fr":"","en":"Information on joint arrangements and associates","es":""}}],"pairs":[{"left":"l1","right":"r1"},{"left":"l2","right":"r2"},{"left":"l3","right":"r3"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000003","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SCOPE.HELD_FOR_SALE"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"INDUSTRY","tested_point":"HELD_FOR_SALE_SUMMARISED","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IFRS12.000001","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000001","section_id":"rule-heldforsale"},"references":["IFRS 12 §5A","IFRS 12 §B17"],"exercise":{"prompt":{"fr":"","en":"Valtier SA has classified its interest in an associate as held for sale under IFRS 5. What does IFRS 12 say about the summarised financial information on that interest?","es":""},"explanation":{"fr":"","en":"Summarised financial information is not required for an interest classified as held for sale under IFRS 5; the other disclosures still apply in principle (IFRS 12).","es":""},"common_error":{"fr":"","en":"Assuming the IFRS 5 classification removes all disclosure.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The whole of IFRS 12 stops applying as soon as the classification is decided","es":""},"correct":false,"feedback":{"fr":"","en":"The classification does not remove all disclosures: only the summarised financial information is concerned (IFRS 12).","es":""}},{"id":"B","text":{"fr":"","en":"The summarised information is still required as before, IFRS 5 having no bearing on IFRS 12","es":""},"correct":false,"feedback":{"fr":"","en":"IFRS 5 does matter here: summarised information is not required for an interest held for sale (IFRS 12).","es":""}},{"id":"C","text":{"fr":"","en":"It is not required for that interest, the other disclosures still applying in principle","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"It is required in a reduced form, limited to assets without liabilities or profit","es":""},"correct":false,"feedback":{"fr":"","en":"No reduced version is provided: the requirement is lifted for such interests (IFRS 12).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000004","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SCOPE.HELD_FOR_SALE"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"HEALTH","tested_point":"HELD_FOR_SALE_NOT_FULL_RELIEF","difficulty":"INTERMEDIATE","estimated_time_s":30,"lesson_id":"LS.IFRS12.000001","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000001","section_id":"rule-heldforsale"},"references":["IFRS 12 §5A","IFRS 12 §B17"],"exercise":{"prompt":{"fr":"","en":"Classifying an interest as held for sale under IFRS 5 relieves the entity of all the IFRS 12 disclosures on that interest.","es":""},"explanation":{"fr":"","en":"The classification removes the summarised financial information, not the whole set of disclosures (IFRS 12).","es":""},"common_error":{"fr":"","en":"Extending a specific relief to the whole standard.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000005","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SCOPE.AGGREGATION"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"FINANCE","tested_point":"AGGREGATION_ERROR_SPOT","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000001","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000001","section_id":"rule-detail"},"references":["IFRS 12 §4","IFRS 12"],"exercise":{"prompt":{"fr":"","en":"Spot the erroneous statement about level of detail and aggregation.","es":""},"explanation":{"fr":"","en":"Judgement applies to level of detail and aggregation, except for the summarised information of material joint ventures and associates (IFRS 12, paras. 4, 21 and B12).","es":""},"common_error":{"fr":"","en":"Extending the freedom to aggregate to the summarised information of material entities.","es":""},"format":"ERROR_SPOT","statements":[{"id":"s1","text":{"fr":"","en":"The general aggregation principle allows the summarised information of material joint ventures of a similar nature to be pooled.","es":""},"erroneous":true,"correction":{"fr":"","en":"The general aggregation principle does not allow the summarised information on each material joint venture or associate to be aggregated (IFRS 12, paras. 4, 21 and B12).","es":""}},{"id":"s2","text":{"fr":"","en":"The entity assesses the level of detail needed to meet the objective of the standard.","es":""},"erroneous":false},{"id":"s3","text":{"fr":"","en":"The entity assesses the emphasis to place on each requirement.","es":""},"erroneous":false},{"id":"s4","text":{"fr":"","en":"The entity assesses the degree of aggregation or disaggregation of the information.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000007","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SCOPE.APPLICATION"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"RETAIL","tested_point":"DISCLOSURE_VS_RECOGNITION_SORT","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000001","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000001","section_id":"understand"},"references":["IFRS 12 §1"],"exercise":{"prompt":{"fr":"","en":"Sort each task: does it fall under IFRS 12 (disclosure) or another standard (recognition)?","es":""},"explanation":{"fr":"","en":"IFRS 12 asks to explain judgements, restrictions and third parties’ share; eliminations, the equity method and derecognition fall under other standards (IFRS 12, para. 1).","es":""},"common_error":{"fr":"","en":"Looking for entries in a disclosure standard.","es":""},"format":"CLASSIFICATION","categories":[{"id":"ifrs12","text":{"fr":"","en":"IFRS 12: disclosure","es":""}},{"id":"other","text":{"fr":"","en":"Other standard: recognition","es":""}}],"items":[{"id":"i1","text":{"fr":"","en":"Explaining the judgement that led to the conclusion of control","es":""},"category":"ifrs12"},{"id":"i2","text":{"fr":"","en":"Calculating the eliminations of intragroup transactions","es":""},"category":"other"},{"id":"i3","text":{"fr":"","en":"Describing the restrictions that limit the group’s access to a subsidiary’s assets","es":""},"category":"ifrs12"},{"id":"i4","text":{"fr":"","en":"Measuring an interest in an associate under the equity method","es":""},"category":"other"},{"id":"i5","text":{"fr":"","en":"Disclosing the share that third parties have in the group’s cash flows","es":""},"category":"ifrs12"},{"id":"i6","text":{"fr":"","en":"Derecognising the assets of a subsidiary that has been sold","es":""},"category":"other"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000008","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SCOPE.APPLICATION"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"GENERIC","tested_point":"OBJECTIVE_FILL_BLANK","difficulty":"BEGINNER","estimated_time_s":60,"lesson_id":"LS.IFRS12.000001","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000001","section_id":"rule-objective"},"references":["IFRS 12 §1"],"exercise":{"prompt":{"fr":"","en":"Complete the sentence.","es":""},"explanation":{"fr":"","en":"The nature of the interests, the associated risks and their financial effects (IFRS 12, para. 1).","es":""},"common_error":{"fr":"","en":"Mixing up risks and dividends.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"IFRS 12 asks for information that lets users evaluate the {{b1}} of interests in other entities, the associated {{b2}} and their financial effects.","es":""},"blanks":[{"id":"b1","mode":"CHOICE","choices":[{"id":"a","text":{"fr":"","en":"nature","es":""}},{"id":"b","text":{"fr":"","en":"market value","es":""}},{"id":"c","text":{"fr":"","en":"duration","es":""}}],"answer":"a"},{"id":"b2","mode":"CHOICE","choices":[{"id":"a","text":{"fr":"","en":"costs","es":""}},{"id":"b","text":{"fr":"","en":"risks","es":""}},{"id":"c","text":{"fr":"","en":"dividends","es":""}}],"answer":"b"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000009","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JUDGEMENTS.SIGNIFICANT"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"SIGNIFICANT_SCOPE_CONCLUSIONS","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IFRS12.000002","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000002","section_id":"rule-significant"},"references":["IFRS 12 §7"],"exercise":{"prompt":{"fr":"","en":"The explanation of significant judgements concerns only the control conclusion; joint control and significant influence are excluded.","es":""},"explanation":{"fr":"","en":"Control, joint control and significant influence each call for an explanation (IFRS 12, para. 7).","es":""},"common_error":{"fr":"","en":"Forgetting joint arrangements and associates.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000010","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JUDGEMENTS.EXAMPLES"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"INDUSTRY","tested_point":"MAJORITY_WITHOUT_CONTROL","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IFRS12.000002","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000002","section_id":"rule-examples"},"references":["IFRS 12 §9"],"exercise":{"prompt":{"fr":"","en":"Gerval SA holds 55% of the voting rights of Pliney SA, but an agreement gives another investor the power to direct the relevant activities. Gerval concludes it does not control Pliney. What does it explain?","es":""},"explanation":{"fr":"","en":"Concluding there is no control despite more than half of the voting rights is an example of a significant judgement to explain (IFRS 12, para. 9).","es":""},"common_error":{"fr":"","en":"Seeing a majority of votes as sufficient proof of control.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The percentage of voting rights, since it exceeds half of the total","es":""},"correct":false,"feedback":{"fr":"","en":"The percentage alone does not explain the conclusion: the judgement concerns rights and facts (IFRS 12, para. 9).","es":""}},{"id":"B","text":{"fr":"","en":"Nothing, the absence of control not being a conclusion that needs justifying","es":""},"correct":false,"feedback":{"fr":"","en":"The absence of control despite a majority of votes is an example of a significant judgement to explain (IFRS 12, para. 9).","es":""}},{"id":"C","text":{"fr":"","en":"That it applies the 50% rule that the standard sets as the control threshold","es":""},"correct":false,"feedback":{"fr":"","en":"The standard sets no 50% threshold: these are examples of judgements (IFRS 12, para. 9).","es":""}},{"id":"D","text":{"fr":"","en":"Why a majority of the voting rights does not give it control of Pliney","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000011","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JUDGEMENTS.EXAMPLES"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"GENERIC","tested_point":"EXAMPLES_SORT","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000002","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000002","section_id":"rule-examples"},"references":["IFRS 12 §9"],"exercise":{"prompt":{"fr":"","en":"Sort each situation: example of a significant judgement cited by the standard, or situation that is not such an example.","es":""},"explanation":{"fr":"","en":"Control with less than half of the votes, significant influence ruled out at 20% or more, and principal or agent roles are examples (IFRS 12, para. 9).","es":""},"common_error":{"fr":"","en":"Taking a presentation detail for a judgement on control.","es":""},"format":"CLASSIFICATION","categories":[{"id":"ex","text":{"fr":"","en":"Example of a significant judgement","es":""}},{"id":"no","text":{"fr":"","en":"Not such an example","es":""}}],"items":[{"id":"i1","text":{"fr":"","en":"Controlling an entity with less than half of the voting rights","es":""},"category":"ex"},{"id":"i2","text":{"fr":"","en":"No significant influence although 20% or more of the voting rights are held","es":""},"category":"ex"},{"id":"i3","text":{"fr":"","en":"Choice of the typeface used in the notes","es":""},"category":"no"},{"id":"i4","text":{"fr":"","en":"Status as principal or agent in a delegated decision","es":""},"category":"ex"},{"id":"i5","text":{"fr":"","en":"Date of the board’s annual meeting","es":""},"category":"no"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000012","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JUDGEMENTS.SIGNIFICANT"],"dimension":"RECOGNITION","format":"MATCHING","context":"FINANCE","tested_point":"CONCLUSION_TO_EXPLANATION","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000002","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000002","section_id":"rule-significant"},"references":["IFRS 12 §7"],"exercise":{"prompt":{"fr":"","en":"Match each conclusion of the entity with the explanation expected in the notes.","es":""},"explanation":{"fr":"","en":"Each conclusion calls for an explanation of the judgement that supports it (IFRS 12, para. 7).","es":""},"common_error":{"fr":"","en":"Confusing joint control with control exercised alone.","es":""},"format":"MATCHING","left":[{"id":"l1","text":{"fr":"","en":"It controls another entity","es":""}},{"id":"l2","text":{"fr":"","en":"It has joint control","es":""}},{"id":"l3","text":{"fr":"","en":"It has significant influence","es":""}},{"id":"l4","text":{"fr":"","en":"Its arrangement is structured through a separate vehicle","es":""}}],"right":[{"id":"r4","text":{"fr":"","en":"Why it chooses that type of arrangement","es":""}},{"id":"r2","text":{"fr":"","en":"Why decision-making power is shared","es":""}},{"id":"r1","text":{"fr":"","en":"Why the conditions for control are met","es":""}},{"id":"r3","text":{"fr":"","en":"Why it takes part in decisions without directing them","es":""}}],"pairs":[{"left":"l1","right":"r1"},{"left":"l2","right":"r2"},{"left":"l3","right":"r3"},{"left":"l4","right":"r4"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000013","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JUDGEMENTS.EXAMPLES"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"GENERIC","tested_point":"EXAMPLES_NOT_THRESHOLDS","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000002","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000002","section_id":"pitfalls"},"references":["IFRS 12 §9"],"exercise":{"prompt":{"fr":"","en":"Spot the erroneous statement about the examples of significant judgements.","es":""},"explanation":{"fr":"","en":"The situations cited are examples of judgements, not thresholds (IFRS 12, para. 9).","es":""},"common_error":{"fr":"","en":"Reading an example as a trigger threshold.","es":""},"format":"ERROR_SPOT","statements":[{"id":"s1","text":{"fr":"","en":"Significant influence can be concluded with less than 20% of the voting rights.","es":""},"erroneous":false},{"id":"s2","text":{"fr":"","en":"As soon as the entity holds 20% of the voting rights, IFRS 12 requires it to explain significant influence.","es":""},"erroneous":true,"correction":{"fr":"","en":"The 20% figure illustrates a judgement; it does not by itself trigger an explanation (IFRS 12, para. 9).","es":""}},{"id":"s3","text":{"fr":"","en":"Deciding on behalf of other investors can call for an explanation of a principal or agent judgement.","es":""},"erroneous":false},{"id":"s4","text":{"fr":"","en":"The explanation concerns the reasoning, not a single percentage.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000014","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JUDGEMENTS.CHANGE_OF_FACTS"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"TECH","tested_point":"CONCLUSION_CHANGE_IN_PERIOD","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IFRS12.000002","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000002","section_id":"rule-change"},"references":["IFRS 12 §8"],"exercise":{"prompt":{"fr":"","en":"During the year a shareholders’ agreement is terminated: Torvel SA, which controlled Quasar SA, has only significant influence over it at the reporting date. What must it disclose?","es":""},"explanation":{"fr":"","en":"A change of conclusion during the period, caused by a change in facts, is among the significant judgements to explain (IFRS 12).","es":""},"common_error":{"fr":"","en":"Describing only the situation at the reporting date.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The situation at the reporting date, since the former control no longer exists","es":""},"correct":false,"feedback":{"fr":"","en":"The information is not limited to the reporting date: the change that occurred in the period is explained (IFRS 12).","es":""}},{"id":"B","text":{"fr":"","en":"The change of conclusion during the period and the judgement that drove it","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Nothing, a change of facts not being a significant judgement","es":""},"correct":false,"feedback":{"fr":"","en":"Significant judgements include those made when facts change and the conclusion changes (IFRS 12).","es":""}},{"id":"D","text":{"fr":"","en":"The amount of the dividend received from Quasar during the year","es":""},"correct":false,"feedback":{"fr":"","en":"A dividend does not explain the change of conclusion on control (IFRS 12).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000015","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JUDGEMENTS.CHANGE_OF_FACTS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"TRANSPORT","tested_point":"CHANGE_DURING_PERIOD_TF","difficulty":"INTERMEDIATE","estimated_time_s":30,"lesson_id":"LS.IFRS12.000002","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000002","section_id":"rule-change"},"references":["IFRS 12 §8"],"exercise":{"prompt":{"fr":"","en":"A change of conclusion on control during the period, caused by a change in facts, is among the significant judgements to explain.","es":""},"explanation":{"fr":"","en":"Significant judgements include those made when the facts change and the conclusion changes within the period (IFRS 12).","es":""},"common_error":{"fr":"","en":"Looking only at the situation at the reporting date.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000016","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JUDGEMENTS.SIGNIFICANT","IFRS12.JUDGEMENTS.EXAMPLES"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"FOOD","tested_point":"MINICASE_CONTROL_WITHOUT_MAJORITY","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IFRS12.000002","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000002","section_id":"example"},"references":["IFRS 12 §7","IFRS 12 §9"],"exercise":{"prompt":{"fr":"","en":"Determine what Brandt SA explains about Lézan SA.","es":""},"explanation":{"fr":"","en":"The entity explains the rights and facts behind its conclusion, not an isolated percentage (IFRS 12, para. 7) (IFRS 12, para. 9).","es":""},"common_error":{"fr":"","en":"Being content with stating the percentage held.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Brandt SA holds 42% of the voting rights of Lézan SA, a dairy. The remaining 58% is spread among a very large number of shareholders. An agreement gives Brandt the right to appoint the majority of the board, which directs investment and management decisions. *Teaching assumption*: Brandt concludes that it controls Lézan and says so in its notes.","es":""},"parts":[{"prompt":{"fr":"","en":"Which significant judgement must Brandt explain?","es":""},"explanation":{"fr":"","en":"Controlling with less than half of the voting rights is an example of a significant judgement (IFRS 12, para. 9).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Why it chose to invest in a dairy rather than another sector","es":""},"correct":false,"feedback":{"fr":"","en":"The sector choice is not a judgement on control (IFRS 12, para. 9).","es":""}},{"id":"B","text":{"fr":"","en":"Why it pays its own shareholders a dividend each year","es":""},"correct":false,"feedback":{"fr":"","en":"The parent’s dividend has no bearing on the conclusion about Lézan (IFRS 12, para. 9).","es":""}},{"id":"C","text":{"fr":"","en":"Why it controls Lézan with less than half of the votes","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Why it presents its accounts in euros rather than another currency","es":""},"correct":false,"feedback":{"fr":"","en":"The presentation currency is not a judgement on control (IFRS 12, para. 9).","es":""}}],"id":"p1","dimension":"RECOGNITION"},{"prompt":{"fr":"","en":"Which explanation is most useful to the reader?","es":""},"explanation":{"fr":"","en":"The explanation describes the decisive rights and facts, here the right to appoint the board and the dispersion of the other shareholders (IFRS 12, para. 7).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The right to appoint the board majority, which directs decisions, and the dispersion of the other shareholders","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The statement that Brandt holds 42% of the voting rights, with no further detail, as the figure speaks for itself","es":""},"correct":false,"feedback":{"fr":"","en":"An isolated percentage does not explain why control exists without a majority (IFRS 12, para. 7).","es":""}},{"id":"C","text":{"fr":"","en":"A general sentence saying that management exercised its judgement with care","es":""},"correct":false,"feedback":{"fr":"","en":"A generality tells the reader nothing about the reasoning followed (IFRS 12, para. 7).","es":""}}],"id":"p2","dimension":"APPLICATION"},{"prompt":{"fr":"","en":"Is the 42% figure a threshold set by IFRS 12 for explaining control?","es":""},"explanation":{"fr":"","en":"The percentage is case data; the standard sets no threshold (IFRS 12, para. 9).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No, it is case data, not a threshold of the standard","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Yes, below 50% the explanation becomes mandatory","es":""},"correct":false,"feedback":{"fr":"","en":"No 50% threshold is set: the judgement concerns rights and facts (IFRS 12, para. 9).","es":""}},{"id":"C","text":{"fr":"","en":"Yes, 42% is the level above which an agreement is required","es":""},"correct":false,"feedback":{"fr":"","en":"The figure comes from the case, not from the standard (IFRS 12, para. 9).","es":""}}],"id":"p3","dimension":"PROFESSIONAL_JUDGMENT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000017","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JUDGEMENTS.SIGNIFICANT"],"dimension":"RECOGNITION","format":"MULTIPLE_CHOICE","context":"REAL_ESTATE","tested_point":"SIGNIFICANT_CONCLUSIONS_MULTI","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IFRS12.000002","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000002","section_id":"rule-significant"},"references":["IFRS 12 §7"],"exercise":{"prompt":{"fr":"","en":"On which conclusions does the entity explain its significant judgements and assumptions? (several answers)","es":""},"explanation":{"fr":"","en":"Control, joint control and significant influence call for an explanation; the choice of year-end date or audit fees is not concerned (IFRS 12, para. 7).","es":""},"common_error":{"fr":"","en":"Adding management choices unrelated to control.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The choice of the group’s year-end date","es":""},"correct":false,"feedback":{"fr":"","en":"The year-end date is not one of these conclusions (IFRS 12, para. 7).","es":""}},{"id":"B","text":{"fr":"","en":"The amount of fees paid to the auditors","es":""},"correct":false,"feedback":{"fr":"","en":"Audit fees are not among the conclusions on control or influence (IFRS 12, para. 7).","es":""}},{"id":"C","text":{"fr":"","en":"The conclusion that it controls another entity","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The conclusion that it has joint control","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The conclusion that it has significant influence","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000018","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.NCI_MATERIAL"],"dimension":"CALCULATION","format":"CALCULATION","context":"INDUSTRY","tested_point":"NCI_PROFIT_AND_BALANCE_CALC","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS12.000003","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000003","section_id":"numeric-nci"},"references":["IFRS 12 §12"],"exercise":{"prompt":{"fr":"","en":"Maltor SA holds 60% of Quiberon SA; third parties hold 40%. Quiberon earns a profit of €750,000 and other comprehensive income of €50,000; it pays €200,000 of dividends. Non-controlling interests are worth €1,100,000 at the start. Case convention: allocation at current ownership, no other movement. Calculate the profit allocated to third parties and their closing balance.","es":""},"explanation":{"fr":"","en":"Profit allocated: €750,000 × 40% = €300,000. Other comprehensive income: €50,000 × 40% = €20,000. Dividends to third parties: €200,000 × 40% = €80,000. Closing balance: €1,100,000 + €300,000 + €20,000 − €80,000 = €1,340,000 (IFRS 12, para. 12).","es":""},"common_error":{"fr":"","en":"Forgetting to deduct the dividends paid to third parties.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Quiberon’s profit","es":""},"value":"750000","unit":"EUR"},{"label":{"fr":"","en":"Other comprehensive income","es":""},"value":"50000","unit":"EUR"},{"label":{"fr":"","en":"Dividends paid","es":""},"value":"200000","unit":"EUR"},{"label":{"fr":"","en":"Third parties’ interests at the start","es":""},"value":"1100000","unit":"EUR"},{"label":{"fr":"","en":"Third parties’ share (in %)","es":""},"value":"40","unit":"PERCENT"}],"steps":[{"id":"a","label":{"fr":"","en":"Profit allocated to third parties","es":""},"answer":300000,"tolerance":0,"unit":"EUR"},{"id":"b","label":{"fr":"","en":"Third parties’ closing balance","es":""},"answer":1340000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"a","meaning":{"fr":"","en":"Profit allocated to third parties","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Quiberon’s profit","es":""},"value":750000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Third parties’ share (in %)","es":""},"value":40,"unit":"PERCENT"}],"result":300000,"unit":"EUR"},{"step":"b","meaning":{"fr":"","en":"Third parties’ closing balance","es":""},"expression":"a + b + (c * d) - (e * d)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Third parties’ interests at the start","es":""},"value":1100000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Profit allocated to third parties","es":""},"value":300000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Other comprehensive income","es":""},"value":50000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Third parties’ share (in %)","es":""},"value":40,"unit":"PERCENT"},{"symbol":"e","meaning":{"fr":"","en":"Dividends paid","es":""},"value":200000,"unit":"EUR"}],"result":1340000,"unit":"EUR"}],"rationale":{"fr":"","en":"Closing balance: €1,100,000 + €300,000 + €20,000 − €80,000 = €1,340,000 (IFRS 12, para. 12).","es":""},"references":["REF.IFRS12.12"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000019","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.GROUP_COMPOSITION"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"GROUP_OBJECTIVE_NCI_SHARE","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IFRS12.000003","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000003","section_id":"understand"},"references":["IFRS 12 §10"],"exercise":{"prompt":{"fr":"","en":"The information on subsidiaries aims in particular to help users understand the share that non-controlling interests have in the group’s activities and cash flows.","es":""},"explanation":{"fr":"","en":"The group objective concerns its composition and the share of non-controlling interests (IFRS 12, para. 10).","es":""},"common_error":{"fr":"","en":"Seeing only the parent in consolidated statements.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000020","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.NCI_MATERIAL"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"ENERGY","tested_point":"MATERIALITY_BASE","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IFRS12.000003","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000003","section_id":"rule-level"},"references":["IFRS 12 §12","IFRS 12"],"exercise":{"prompt":{"fr":"","en":"Nordel SA must judge whether the non-controlling interests of one of its subsidiaries are material. On what basis does it assess their importance?","es":""},"explanation":{"fr":"","en":"Materiality is assessed from the viewpoint of the entity’s consolidated financial statements (IFRS 12).","es":""},"common_error":{"fr":"","en":"Judging the subsidiary as if it were reporting alone.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"On the subsidiary’s own separate financial statements alone, compared with those of its competitors","es":""},"correct":false,"feedback":{"fr":"","en":"The basis is the consolidated group, not the subsidiary in isolation (IFRS 12).","es":""}},{"id":"B","text":{"fr":"","en":"On the number of minority holders: the more there are, the more material their share","es":""},"correct":false,"feedback":{"fr":"","en":"The number of holders is not the basis of assessment (IFRS 12).","es":""}},{"id":"C","text":{"fr":"","en":"On its consolidated financial statements, i.e. what these third parties represent for the group","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"On the parent’s own accounts, before the consolidation of its subsidiaries","es":""},"correct":false,"feedback":{"fr":"","en":"The assessment is made after consolidation, from the group’s viewpoint (IFRS 12).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000021","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.NCI_MATERIAL","IFRS12.SUBSIDIARIES.GROUP_COMPOSITION"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"RETAIL","tested_point":"NCI_NOTE_ERROR_SPOT","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000003","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000003","section_id":"rule-nci"},"references":["IFRS 12 §12","IFRS 12 §10"],"exercise":{"prompt":{"fr":"","en":"Spot the erroneous statement in this note on the subsidiary Aldamar SA.","es":""},"explanation":{"fr":"","en":"The materiality of non-controlling interests is judged from the consolidated viewpoint (IFRS 12).","es":""},"common_error":{"fr":"","en":"Basing materiality on the subsidiary’s accounts alone.","es":""},"format":"ERROR_SPOT","statements":[{"id":"s1","text":{"fr":"","en":"The note gives Aldamar’s name and principal place of business.","es":""},"erroneous":false},{"id":"s2","text":{"fr":"","en":"The note states the profit allocated to non-controlling interests for the year.","es":""},"erroneous":false},{"id":"s3","text":{"fr":"","en":"The note concludes that these interests are material on the basis of Aldamar’s separate accounts alone.","es":""},"erroneous":true,"correction":{"fr":"","en":"The assessment is made from the viewpoint of the entity’s consolidated financial statements (IFRS 12).","es":""}},{"id":"s4","text":{"fr":"","en":"The note states the accumulated balance of non-controlling interests at the reporting date.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000022","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.NCI_MATERIAL"],"dimension":"PROFESSIONAL_JUDGMENT","format":"SINGLE_CHOICE","context":"TRANSPORT","tested_point":"SUBGROUP_PRESENTATION_JUDGEMENT","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IFRS12.000003","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000003","section_id":"judgment"},"references":["IFRS 12 §12","IFRS 12","IFRS 12 §10"],"exercise":{"prompt":{"fr":"","en":"Two subsidiaries of the Brisval group are held through the same sub-group, whose minority holders are the same. What does the standard say about the level of presentation (subsidiary by subsidiary or sub-group)?","es":""},"explanation":{"fr":"","en":"Subsidiary or sub-group is a judgement made case by case, in light of the group objective (IFRS 12, para. 10).","es":""},"common_error":{"fr":"","en":"Looking for a numerical rule to choose the level.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The standard requires each subsidiary to be presented separately, with no grouping into a sub-group","es":""},"correct":false,"feedback":{"fr":"","en":"No such obligation exists: the choice is a judgement (IFRS 12, para. 10).","es":""}},{"id":"B","text":{"fr":"","en":"It is a case-by-case judgement, guided by the objective of understanding the group’s composition","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The standard requires the sub-group as soon as two subsidiaries have the same minority holders","es":""},"correct":false,"feedback":{"fr":"","en":"No automatic criterion is set: it is a judgement made for each case (IFRS 12, para. 10).","es":""}},{"id":"D","text":{"fr":"","en":"The level of presentation is set by the market authority, not by the entity","es":""},"correct":false,"feedback":{"fr":"","en":"The level is for the entity to judge, in light of the objective (IFRS 12, para. 10).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000023","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.NCI_MATERIAL"],"dimension":"APPLICATION","format":"TRUE_FALSE","context":"FINANCE","tested_point":"NCI_DIVIDENDS_EFFECT","difficulty":"INTERMEDIATE","estimated_time_s":30,"lesson_id":"LS.IFRS12.000003","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000003","section_id":"numeric-nci"},"references":["IFRS 12 §12"],"exercise":{"prompt":{"fr":"","en":"Dividends paid by a subsidiary to its minority holders increase the accumulated balance of their interests.","es":""},"explanation":{"fr":"","en":"Dividends to third parties reduce their accumulated balance; the profit allocated increases it (IFRS 12, para. 12).","es":""},"common_error":{"fr":"","en":"Mistaking a flow paid to third parties for a contribution from them.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000024","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.NCI_MATERIAL"],"dimension":"CALCULATION","format":"CALCULATION","context":"AGRI","tested_point":"NCI_SHARE_OF_PROFIT_AND_DIVIDEND","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000003","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000003","section_id":"numeric-nci"},"references":["IFRS 12 §12"],"exercise":{"prompt":{"fr":"","en":"Rivalen SA holds 85% of Celmar SA. Celmar earns a profit of €420,000 and pays €140,000 of dividends. Calculate the profit allocated to non-controlling interests and the dividends attributable to them.","es":""},"explanation":{"fr":"","en":"Third parties’ share: 100% − 85% = 15%. Profit allocated: €420,000 × 15% = €63,000. Dividends to third parties: €140,000 × 15% = €21,000 (IFRS 12, para. 12).","es":""},"common_error":{"fr":"","en":"Applying 85% instead of 15%.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Celmar’s profit","es":""},"value":"420000","unit":"EUR"},{"label":{"fr":"","en":"Dividends paid by Celmar","es":""},"value":"140000","unit":"EUR"},{"label":{"fr":"","en":"Percentage held by Rivalen (in %)","es":""},"value":"85","unit":"PERCENT"}],"steps":[{"id":"a","label":{"fr":"","en":"Profit allocated to third parties","es":""},"answer":63000,"tolerance":0,"unit":"EUR"},{"id":"b","label":{"fr":"","en":"Dividends attributable to third parties","es":""},"answer":21000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000025","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.NCI_MATERIAL","IFRS12.SUBSIDIARIES.SUMMARISED_INFORMATION","IFRS12.SUBSIDIARIES.GROUP_COMPOSITION"],"dimension":"APPLICATION","format":"MINI_CASE","context":"HEALTH","tested_point":"MINICASE_TWO_SUBSIDIARIES","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IFRS12.000003","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000003","section_id":"rule-nci"},"references":["IFRS 12 §12","IFRS 12 §B10","IFRS 12 §B11"],"exercise":{"prompt":{"fr":"","en":"Prepare the Cassandre group’s disclosures on its two subsidiaries.","es":""},"explanation":{"fr":"","en":"The sheet concerns subsidiaries whose non-controlling interests are material from the consolidated viewpoint (IFRS 12); the summary is before eliminations (IFRS 12, para. B11).","es":""},"common_error":{"fr":"","en":"Preparing a sheet for every subsidiary without assessing the importance of third parties.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"The Cassandre group has two subsidiaries. The non-controlling interests of Dorlan SA (35% of capital) represent 18% of consolidated equity and 22% of consolidated profit; those of Fenwick SA (2% of capital) represent less than 1% of both. *Teaching assumption*: after review, Cassandre concludes that only Dorlan's are material. Dorlan earns a profit of €640,000; its sales to the parent, €170,000, are eliminated on consolidation.","es":""},"parts":[{"prompt":{"fr":"","en":"For which subsidiary is a detailed sheet prepared?","es":""},"explanation":{"fr":"","en":"The detailed sheet concerns the subsidiary whose non-controlling interests are material for the group, here Dorlan (IFRS 12, para. 12).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"For Fenwick only, because its share of capital is the smallest","es":""},"correct":false,"feedback":{"fr":"","en":"It is the importance for the group that counts, not the smallness of the percentage (IFRS 12).","es":""}},{"id":"B","text":{"fr":"","en":"For both, since they both have minority holders","es":""},"correct":false,"feedback":{"fr":"","en":"The sheet concerns subsidiaries whose third parties are material, not all subsidiaries with minorities (IFRS 12, para. 12).","es":""}},{"id":"C","text":{"fr":"","en":"For neither, third parties being minorities in a group","es":""},"correct":false,"feedback":{"fr":"","en":"Being a minority does not rule out being material for the group (IFRS 12).","es":""}},{"id":"D","text":{"fr":"","en":"For Dorlan only, whose third parties are material","es":""},"correct":true}],"id":"p1","dimension":"RECOGNITION"},{"prompt":{"fr":"","en":"Calculate the part of Dorlan’s profit allocated to non-controlling interests.","es":""},"explanation":{"fr":"","en":"Profit allocated: €640,000 × 35% = €224,000 (IFRS 12, para. 12).","es":""},"common_error":{"fr":"","en":"Applying the group's share (65%) instead of the non-controlling share, or starting from a profit other than the subsidiary's.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Dorlan’s profit","es":""},"value":"640000","unit":"EUR"},{"label":{"fr":"","en":"Third parties’ share (in %)","es":""},"value":"35","unit":"PERCENT"}],"steps":[{"id":"a","label":{"fr":"","en":"Profit allocated to third parties","es":""},"answer":224000,"tolerance":0,"unit":"EUR"}],"id":"p2","dimension":"CALCULATION","formula":{"lines":[{"step":"a","meaning":{"fr":"","en":"Profit allocated to third parties","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Dorlan’s profit","es":""},"value":640000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Third parties’ share (in %)","es":""},"value":35,"unit":"PERCENT"}],"result":224000,"unit":"EUR"}],"rationale":{"fr":"","en":"Profit allocated: €640,000 × 35% = €224,000 (IFRS 12, para. 12).","es":""},"references":["REF.IFRS12.12"]}},{"prompt":{"fr":"","en":"In Dorlan’s summarised information, how are its sales to the parent of €170,000 treated?","es":""},"explanation":{"fr":"","en":"The summary is presented before intragroup eliminations, so the sales to the parent are included (IFRS 12, para. B11).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"They are removed from the summary, as in the Cassandre group’s consolidated statements","es":""},"correct":false,"feedback":{"fr":"","en":"That would apply the elimination, which the summary precedes (IFRS 12, para. B11).","es":""}},{"id":"B","text":{"fr":"","en":"They are replaced by an average of Dorlan’s sales over three years","es":""},"correct":false,"feedback":{"fr":"","en":"No average is provided: the summary uses the subsidiary’s own figures (IFRS 12, para. B11).","es":""}},{"id":"C","text":{"fr":"","en":"They are included in the summary’s revenue, because it precedes the eliminations","es":""},"correct":true}],"id":"p3","dimension":"APPLICATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000026","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.SUMMARISED_INFORMATION"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"SUMMARY_BASIS_TF","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IFRS12.000004","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000004","section_id":"rule-basis"},"references":["IFRS 12 §B11"],"exercise":{"prompt":{"fr":"","en":"The summarised information on a subsidiary is presented after intragroup eliminations.","es":""},"explanation":{"fr":"","en":"It is presented before intragroup eliminations (IFRS 12, para. B11).","es":""},"common_error":{"fr":"","en":"Using the consolidated statements’ basis for the summary.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000027","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.SUMMARISED_INFORMATION"],"dimension":"CALCULATION","format":"CALCULATION","context":"INDUSTRY","tested_point":"SUMMARY_VS_CONSOLIDATED_REVENUE","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS12.000004","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000004","section_id":"numeric-basis"},"references":["IFRS 12 §B10","IFRS 12 §B11"],"exercise":{"prompt":{"fr":"","en":"Tavare SA holds 65% of Olmec SA; third parties hold 35%. Olmec has revenue of €3,400,000 before eliminations, including €650,000 of sales to Tavare. Olmec pays €240,000 of dividends. Calculate Olmec’s contribution to consolidated revenue after elimination and the dividends attributable to third parties.","es":""},"explanation":{"fr":"","en":"Contribution to consolidated revenue: €3,400,000 − €650,000 = €2,750,000; the subsidiary’s summary shows €3,400,000, before eliminations (IFRS 12, para. B11). Dividends to third parties: €240,000 × 35% = €84,000 (IFRS 12, para. B10).","es":""},"common_error":{"fr":"","en":"Showing revenue after elimination in the summary.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Olmec’s revenue before eliminations","es":""},"value":"3400000","unit":"EUR"},{"label":{"fr":"","en":"Olmec’s sales to Tavare","es":""},"value":"650000","unit":"EUR"},{"label":{"fr":"","en":"Dividends paid by Olmec","es":""},"value":"240000","unit":"EUR"},{"label":{"fr":"","en":"Third parties’ share (in %)","es":""},"value":"35","unit":"PERCENT"}],"steps":[{"id":"a","label":{"fr":"","en":"Contribution to consolidated revenue","es":""},"answer":2750000,"tolerance":0,"unit":"EUR"},{"id":"b","label":{"fr":"","en":"Dividends attributable to third parties","es":""},"answer":84000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"a","meaning":{"fr":"","en":"Contribution to consolidated revenue","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Olmec’s revenue before eliminations","es":""},"value":3400000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Olmec’s sales to Tavare","es":""},"value":650000,"unit":"EUR"}],"result":2750000,"unit":"EUR"},{"step":"b","meaning":{"fr":"","en":"Dividends attributable to third parties","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Dividends paid by Olmec","es":""},"value":240000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Third parties’ share (in %)","es":""},"value":35,"unit":"PERCENT"}],"result":84000,"unit":"EUR"}],"references":["REF.IFRS12.B10","REF.IFRS12.B11"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000028","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.SUMMARISED_INFORMATION"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"RETAIL","tested_point":"BEFORE_AFTER_ELIMINATIONS_SORT","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000004","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000004","section_id":"rule-basis"},"references":["IFRS 12 §B11"],"exercise":{"prompt":{"fr":"","en":"Sort each item: does it appear in the subsidiary’s summarised information (before eliminations) or only in the consolidated statements (after eliminations)?","es":""},"explanation":{"fr":"","en":"The summary keeps the subsidiary’s transactions with the group; the consolidated statements eliminate them (IFRS 12, para. B11).","es":""},"common_error":{"fr":"","en":"Applying the eliminations to the summary.","es":""},"format":"CLASSIFICATION","categories":[{"id":"sum","text":{"fr":"","en":"In the subsidiary’s summary","es":""}},{"id":"cons","text":{"fr":"","en":"Only after eliminations","es":""}}],"items":[{"id":"i1","text":{"fr":"","en":"Subsidiary revenue including its sales to the parent","es":""},"category":"sum"},{"id":"i2","text":{"fr":"","en":"Consolidated revenue excluding sales internal to the group","es":""},"category":"cons"},{"id":"i3","text":{"fr":"","en":"Receivable of the subsidiary from the parent, included in its current assets","es":""},"category":"sum"},{"id":"i4","text":{"fr":"","en":"Internal margin on inventory removed from consolidated profit","es":""},"category":"cons"},{"id":"i5","text":{"fr":"","en":"Subsidiary profit as it appears in its own accounts","es":""},"category":"sum"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000029","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.RESTRICTIONS"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"ENERGY","tested_point":"PROTECTIVE_RIGHT_AS_RESTRICTION","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IFRS12.000004","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000004","section_id":"rule-restrictions"},"references":["IFRS 12 §13"],"exercise":{"prompt":{"fr":"","en":"The articles of the subsidiary Pelham SA require the minorities’ consent for any sale of its main plant. How should this limit be characterised for the group’s disclosures?","es":""},"explanation":{"fr":"","en":"Protective rights of non-controlling interests can be a restriction to report if it is significant (IFRS 12, para. 13).","es":""},"common_error":{"fr":"","en":"Seeing restrictions only in law or contract.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A protective right of the minorities, to report if significant","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"A legal restriction, since it appears in a legal document","es":""},"correct":false,"feedback":{"fr":"","en":"The origin here is a protective right of the minorities, even if written into the articles (IFRS 12, para. 13).","es":""}},{"id":"C","text":{"fr":"","en":"A regulatory restriction imposed by a sector supervisor","es":""},"correct":false,"feedback":{"fr":"","en":"No supervisor is involved in the fact described (IFRS 12, para. 13).","es":""}},{"id":"D","text":{"fr":"","en":"An internal formality with no effect on the group’s access to the assets","es":""},"correct":false,"feedback":{"fr":"","en":"Making a sale of an essential asset subject to the minorities’ consent does limit the group’s access to that asset (IFRS 12, para. 13).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000030","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.RESTRICTIONS"],"dimension":"RECOGNITION","format":"MATCHING","context":"FINANCE","tested_point":"RESTRICTION_ORIGIN_MATCHING","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000004","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000004","section_id":"example-restrictions"},"references":["IFRS 12 §13"],"exercise":{"prompt":{"fr":"","en":"Match each situation to the origin of the restriction on access to the group’s assets.","es":""},"explanation":{"fr":"","en":"Restrictions may be legal, contractual, regulatory or arise from protective rights of non-controlling interests (IFRS 12, para. 13).","es":""},"common_error":{"fr":"","en":"Confusing a supervisor’s requirement with a contractual clause.","es":""},"format":"MATCHING","left":[{"id":"l1","text":{"fr":"","en":"Exchange controls that forbid taking foreign currency out of the country","es":""}},{"id":"l2","text":{"fr":"","en":"Clause of a financing agreement that locks a reserve account","es":""}},{"id":"l3","text":{"fr":"","en":"Solvency requirement of a supervisory authority","es":""}},{"id":"l4","text":{"fr":"","en":"Minorities’ veto over the sale of the main business","es":""}}],"right":[{"id":"r3","text":{"fr":"","en":"Regulatory","es":""}},{"id":"r1","text":{"fr":"","en":"Legal","es":""}},{"id":"r4","text":{"fr":"","en":"Protective right of third parties","es":""}},{"id":"r2","text":{"fr":"","en":"Contractual","es":""}}],"pairs":[{"left":"l1","right":"r1"},{"left":"l2","right":"r2"},{"left":"l3","right":"r3"},{"left":"l4","right":"r4"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000031","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.RESTRICTIONS"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"TECH","tested_point":"RESTRICTIONS_ERROR_SPOT","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000004","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000004","section_id":"pitfalls"},"references":["IFRS 12 §13"],"exercise":{"prompt":{"fr":"","en":"Spot the erroneous statement about significant restrictions.","es":""},"explanation":{"fr":"","en":"The nature and extent of significant restrictions are enough; the standard does not require an exhaustive list of protective rights (IFRS 12, para. 13).","es":""},"common_error":{"fr":"","en":"Burdening the notes with complete lists of rights.","es":""},"format":"ERROR_SPOT","statements":[{"id":"s1","text":{"fr":"","en":"A regulatory restriction can limit the group’s access to a subsidiary’s assets.","es":""},"erroneous":false},{"id":"s2","text":{"fr":"","en":"The minorities’ protective rights can be a restriction to report.","es":""},"erroneous":false},{"id":"s3","text":{"fr":"","en":"Only significant restrictions are concerned.","es":""},"erroneous":false},{"id":"s4","text":{"fr":"","en":"The entity must draw up an exhaustive list of all the protective rights of non-controlling interests.","es":""},"erroneous":true,"correction":{"fr":"","en":"The standard does not require an exhaustive list of protective rights (IFRS 12, para. 13).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000032","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.RESTRICTIONS"],"dimension":"PROFESSIONAL_JUDGMENT","format":"SINGLE_CHOICE","context":"TRANSPORT","tested_point":"SIGNIFICANT_RESTRICTION_JUDGEMENT","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IFRS12.000004","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000004","section_id":"judgment"},"references":["IFRS 12 §13"],"exercise":{"prompt":{"fr":"","en":"A loan obliges the subsidiary Marwick SA to keep its cash in a blocked account; this cash is most of the group’s liquidity. What does the group conclude?","es":""},"explanation":{"fr":"","en":"A restriction that strongly limits the group’s access to its liquidity is significant; the entity describes its nature and extent (IFRS 12, para. 13).","es":""},"common_error":{"fr":"","en":"Dismissing a contractual restriction because it is not legal.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It need not be reported, because it is contractual and not imposed by law","es":""},"correct":false,"feedback":{"fr":"","en":"Contractual restrictions are covered just like legal ones (IFRS 12, para. 13).","es":""}},{"id":"B","text":{"fr":"","en":"It is reported when it exceeds a numerical threshold set by the standard","es":""},"correct":false,"feedback":{"fr":"","en":"The standard sets no numerical threshold: \"significant\" calls for judgement (IFRS 12, para. 13).","es":""}},{"id":"C","text":{"fr":"","en":"It is reported in the subsidiary’s separate notes, not in the group’s","es":""},"correct":false,"feedback":{"fr":"","en":"The information concerns the group’s ability to access its assets: it appears in its consolidated notes (IFRS 12, para. 13).","es":""}},{"id":"D","text":{"fr":"","en":"The restriction is significant: the group describes its nature and extent","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000033","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.OWNERSHIP_CHANGES"],"dimension":"CALCULATION","format":"CALCULATION","context":"FOOD","tested_point":"OWNERS_EQUITY_EFFECT_CALC","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS12.000005","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000005","section_id":"numeric-ownership"},"references":["IFRS 12 §18"],"exercise":{"prompt":{"fr":"","en":"Mirelle SA holds 80% of Tarzen SA; third parties hold 20%, with a carrying amount of €1,200,000. Mirelle buys 5 points of capital from third parties for €235,000. Case convention: the carrying amount transferred is the corresponding fraction of the third parties’ interests. Calculate the carrying amount transferred and the effect on owners’ equity.","es":""},"explanation":{"fr":"","en":"Carrying amount transferred: €1,200,000 × 5 / 20 = €300,000. Effect on owners’ equity: €300,000 − €235,000 = €65,000, an increase because the price paid is below the carrying amount transferred (IFRS 12).","es":""},"common_error":{"fr":"","en":"Taking the difference to profit instead of equity.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Third parties’ interests (carrying amount)","es":""},"value":"1200000","unit":"EUR"},{"label":{"fr":"","en":"Third parties’ share before the purchase (in %)","es":""},"value":"20","unit":"PERCENT"},{"label":{"fr":"","en":"Points of capital bought (in %)","es":""},"value":"5","unit":"PERCENT"},{"label":{"fr":"","en":"Price paid","es":""},"value":"235000","unit":"EUR"}],"steps":[{"id":"a","label":{"fr":"","en":"Carrying amount transferred","es":""},"answer":300000,"tolerance":0,"unit":"EUR"},{"id":"b","label":{"fr":"","en":"Effect on owners’ equity","es":""},"answer":65000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"b","meaning":{"fr":"","en":"Effect on owners’ equity","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Carrying amount transferred","es":""},"value":300000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Price paid","es":""},"value":235000,"unit":"EUR"}],"result":65000,"unit":"EUR"}],"rationale":{"fr":"","en":"Effect on owners’ equity: €300,000 − €235,000 = €65,000, an increase because the price paid is below the carrying amount transferred (IFRS 12).","es":""},"references":["REF.IFRS12.18"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000034","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.OWNERSHIP_CHANGES"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"RETAIL","tested_point":"PURCHASE_OF_NCI_ENTRY","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS12.000005","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000005","section_id":"entry-ownership"},"references":["IFRS 12 §18"],"exercise":{"prompt":{"fr":"","en":"Carelle SA buys 8 points of Dunmore SA’s capital from minority holders for €418,000, without gaining or losing control. Case convention: the carrying amount of the third parties’ interests transferred is €380,000. Record the purchase (the treatment is a matter for IFRS 10; the amount is given by the case).","es":""},"explanation":{"fr":"","en":"Non-controlling interests: debit of €380,000. Difference: €418,000 − €380,000 = €38,000, debit to equity attributable to owners. Cash: credit of €418,000. Total debit €418,000 = total credit €418,000; no profit or loss is recognised.","es":""},"common_error":{"fr":"","en":"Debiting profit or loss with the €38,000 difference.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"nci","text":{"fr":"","en":"Non-controlling interests","es":""}},{"id":"eq","text":{"fr":"","en":"Equity attributable to owners of the parent","es":""}},{"id":"cash","text":{"fr":"","en":"Cash","es":""}},{"id":"pl","text":{"fr":"","en":"Profit or loss for the period","es":""}}],"lines":[{"id":"l1","account":"nci","side":"DEBIT","amount":380000,"given":["account","side"]},{"id":"l2","account":"eq","side":"DEBIT","amount":38000,"given":["account","side"]},{"id":"l3","account":"cash","side":"CREDIT","amount":418000,"given":["account","side"]}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000035","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.OWNERSHIP_CHANGES","IFRS12.SUBSIDIARIES.LOSS_OF_CONTROL"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"GENERIC","tested_point":"OWNERSHIP_VS_LOSS_SORT","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000005","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000005","section_id":"understand"},"references":["IFRS 12 §18","IFRS 12 §19"],"exercise":{"prompt":{"fr":"","en":"Sort each transaction: change without loss of control (effect on owners’ equity) or loss of control (gain or loss).","es":""},"explanation":{"fr":"","en":"Without loss of control the effect is in equity; with loss of control a gain or loss is recognised (IFRS 12).","es":""},"common_error":{"fr":"","en":"Seeing a gain in any sale of a subsidiary’s shares.","es":""},"format":"CLASSIFICATION","categories":[{"id":"own","text":{"fr":"","en":"Without loss of control","es":""}},{"id":"loss","text":{"fr":"","en":"Loss of control","es":""}}],"items":[{"id":"i1","text":{"fr":"","en":"The parent buys 8% of the capital from minorities and then holds 88%","es":""},"category":"own"},{"id":"i2","text":{"fr":"","en":"The parent sells 60% of a subsidiary and keeps 15% without being able to direct it any longer","es":""},"category":"loss"},{"id":"i3","text":{"fr":"","en":"The parent sells 5% of a subsidiary held at 90% and remains in charge","es":""},"category":"own"},{"id":"i4","text":{"fr":"","en":"A court-appointed administrator takes a subsidiary’s decisions and the parent no longer has power","es":""},"category":"loss"},{"id":"i5","text":{"fr":"","en":"A minority holder contributes capital and the parent’s share falls from 70% to 66%, with control retained","es":""},"category":"own"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000036","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.LOSS_OF_CONTROL"],"dimension":"CALCULATION","format":"CALCULATION","context":"HEALTH","tested_point":"REMEASUREMENT_PART_CALC","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS12.000005","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000005","section_id":"numeric-loss"},"references":["IFRS 12 §19"],"exercise":{"prompt":{"fr":"","en":"Lavigne SA loses control of Orsan SA by selling part of its shares; it keeps 25%. The total gain recognised is €420,000. The fair value of the retained investment is €1,150,000; its carrying amount is €980,000 (case convention). Calculate the part of the gain attributable to remeasurement and the rest of the gain.","es":""},"explanation":{"fr":"","en":"Remeasurement part: €1,150,000 − €980,000 = €170,000. Rest of the gain: €420,000 − €170,000 = €250,000 (IFRS 12).","es":""},"common_error":{"fr":"","en":"Taking the total gain for the remeasurement part.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Total gain on loss of control","es":""},"value":"420000","unit":"EUR"},{"label":{"fr":"","en":"Fair value of the retained investment","es":""},"value":"1150000","unit":"EUR"},{"label":{"fr":"","en":"Carrying amount of the retained investment","es":""},"value":"980000","unit":"EUR"}],"steps":[{"id":"a","label":{"fr":"","en":"Part due to remeasurement","es":""},"answer":170000,"tolerance":0,"unit":"EUR"},{"id":"b","label":{"fr":"","en":"Rest of the gain","es":""},"answer":250000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"a","meaning":{"fr":"","en":"Part due to remeasurement","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Fair value of the retained investment","es":""},"value":1150000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Carrying amount of the retained investment","es":""},"value":980000,"unit":"EUR"}],"result":170000,"unit":"EUR"},{"step":"b","meaning":{"fr":"","en":"Rest of the gain","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Total gain on loss of control","es":""},"value":420000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Part due to remeasurement","es":""},"value":170000,"unit":"EUR"}],"result":250000,"unit":"EUR"}],"rationale":{"fr":"","en":"Rest of the gain: €420,000 − €170,000 = €250,000 (IFRS 12).","es":""},"references":["REF.IFRS12.19"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000037","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.LOSS_OF_CONTROL"],"dimension":"RECOGNITION","format":"MULTIPLE_CHOICE","context":"REAL_ESTATE","tested_point":"LOSS_OF_CONTROL_DISCLOSURES","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IFRS12.000005","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000005","section_id":"rule-loss"},"references":["IFRS 12 §19"],"exercise":{"prompt":{"fr":"","en":"Which information does the entity provide when it loses control of a subsidiary during the period? (several answers)","es":""},"explanation":{"fr":"","en":"The gain or loss, the part due to remeasuring the retained investment and the profit or loss line are disclosed (IFRS 12).","es":""},"common_error":{"fr":"","en":"Mixing management information into the loss of control disclosure.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The gain or loss recognised on the loss of control","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The part of that gain attributable to remeasuring the retained investment","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The profit or loss line that includes the gain or loss","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The individual pay of the executives of the subsidiary that was sold","es":""},"correct":false,"feedback":{"fr":"","en":"Executive pay is not part of the loss of control disclosures (IFRS 12).","es":""}},{"id":"E","text":{"fr":"","en":"The staff turnover rate of the subsidiary over the last five years","es":""},"correct":false,"feedback":{"fr":"","en":"A staffing indicator is not required under this heading (IFRS 12).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000038","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.OWNERSHIP_CHANGES","IFRS12.SUBSIDIARIES.LOSS_OF_CONTROL"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"AGRI","tested_point":"OWNERSHIP_LOSS_ERROR_SPOT","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000005","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000005","section_id":"pitfalls"},"references":["IFRS 12 §18","IFRS 12 §19"],"exercise":{"prompt":{"fr":"","en":"Spot the erroneous statement about changes in ownership and loss of control.","es":""},"explanation":{"fr":"","en":"The remeasurement part = fair value of the retained investment − its carrying amount, not the sale price (IFRS 12).","es":""},"common_error":{"fr":"","en":"Confusing the remeasurement of the retained interest with the sale price.","es":""},"format":"ERROR_SPOT","statements":[{"id":"s1","text":{"fr":"","en":"The part of the gain attributable to remeasurement equals the price received for the shares sold.","es":""},"erroneous":true,"correction":{"fr":"","en":"It equals the fair value of the retained investment less its carrying amount (IFRS 12).","es":""}},{"id":"s2","text":{"fr":"","en":"Without loss of control, the effect of buying out minority shares is presented on owners’ equity.","es":""},"erroneous":false},{"id":"s3","text":{"fr":"","en":"On loss of control, the entity states the profit or loss line that includes the gain or loss.","es":""},"erroneous":false},{"id":"s4","text":{"fr":"","en":"The schedule of effects on equity reconciles the carrying amount transferred and the consideration.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000039","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.OWNERSHIP_CHANGES"],"dimension":"PROFESSIONAL_JUDGMENT","format":"SINGLE_CHOICE","context":"INDUSTRY","tested_point":"SILENCE_POLICY_CHOICE","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IFRS12.000005","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000005","section_id":"judgment"},"references":["IFRS 12 §18"],"exercise":{"prompt":{"fr":"","en":"The recognition standard is silent on what happens to goodwill when minority shares are bought out. How does the Hexane group proceed?","es":""},"explanation":{"fr":"","en":"Where the standard is silent, the entity makes a policy choice applied consistently, which it describes if it changes the schedule; this choice is not imposed by the standard.","es":""},"common_error":{"fr":"","en":"Presenting its choice as a rule of the standard.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It presents its choice as an obligation of the standard to avoid discussion","es":""},"correct":false,"feedback":{"fr":"","en":"A policy choice is never presented as imposed by the standard.","es":""}},{"id":"B","text":{"fr":"","en":"It makes a consistent policy choice and describes it if figures change","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"It changes method for each transaction depending on the result it wants","es":""},"correct":false,"feedback":{"fr":"","en":"The policy choice is applied consistently, not transaction by transaction.","es":""}},{"id":"D","text":{"fr":"","en":"It postpones the matter: without a written rule, no disclosure is possible","es":""},"correct":false,"feedback":{"fr":"","en":"The standard’s silence calls for a choice and its description, not abstention.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000040","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JAASSOCIATES.MATERIAL_ENTITIES"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"JV_MEASUREMENT_METHOD_TF","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IFRS12.000006","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000006","section_id":"rule-material"},"references":["IFRS 12 §21"],"exercise":{"prompt":{"fr":"","en":"For each material joint venture, the entity discloses the measurement method used, equity method or fair value.","es":""},"explanation":{"fr":"","en":"The measurement method is among the information required for material joint ventures and associates (IFRS 12, para. 21).","es":""},"common_error":{"fr":"","en":"Thinking the equity method goes without saying and need not be stated.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000041","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JAASSOCIATES.MATERIAL_ENTITIES"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"FINANCE","tested_point":"IDENTITY_SHEET_VS_EXTRA_SORT","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000006","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000006","section_id":"rule-material"},"references":["IFRS 12 §21"],"exercise":{"prompt":{"fr":"","en":"Sort each item of information: identity sheet of a material joint arrangement or associate, or addition specific to material joint ventures and associates.","es":""},"explanation":{"fr":"","en":"Name, relationship, place of business and ownership interest form the sheet; measurement method, summarised information and quoted fair value are added for joint ventures and associates (IFRS 12, para. 21).","es":""},"common_error":{"fr":"","en":"Mixing the two levels of information.","es":""},"format":"CLASSIFICATION","categories":[{"id":"id","text":{"fr":"","en":"Identity sheet","es":""}},{"id":"extra","text":{"fr":"","en":"Addition for joint ventures and associates","es":""}}],"items":[{"id":"i1","text":{"fr":"","en":"The name of the entity and the nature of the relationship","es":""},"category":"id"},{"id":"i2","text":{"fr":"","en":"The measurement method (equity method or fair value)","es":""},"category":"extra"},{"id":"i3","text":{"fr":"","en":"The principal place of business","es":""},"category":"id"},{"id":"i4","text":{"fr":"","en":"The summarised financial information","es":""},"category":"extra"},{"id":"i5","text":{"fr":"","en":"The ownership interest and, if different, the share of voting rights","es":""},"category":"id"},{"id":"i6","text":{"fr":"","en":"The quoted fair value, where applicable","es":""},"category":"extra"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000043","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JAASSOCIATES.SUMMARISED_INFORMATION"],"dimension":"CALCULATION","format":"CALCULATION","context":"TECH","tested_point":"SUMMARISED_NET_ASSETS_AND_TCI","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS12.000006","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000006","section_id":"example"},"references":["IFRS 12 §B12"],"exercise":{"prompt":{"fr":"","en":"From the summarised information of a material associate, calculate its net assets and total comprehensive income. Current assets €540,000; non-current assets €1,260,000; current liabilities €380,000; non-current liabilities €720,000; profit from continuing operations €118,000; other comprehensive income −€8,000.","es":""},"explanation":{"fr":"","en":"Net assets: €540,000 + €1,260,000 − €380,000 − €720,000 = €700,000. Total comprehensive income: €118,000 + (−€8,000) = €110,000 (IFRS 12, para. B12).","es":""},"common_error":{"fr":"","en":"Forgetting the negative sign of other comprehensive income.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Current assets","es":""},"value":"540000","unit":"EUR"},{"label":{"fr":"","en":"Non-current assets","es":""},"value":"1260000","unit":"EUR"},{"label":{"fr":"","en":"Current liabilities","es":""},"value":"380000","unit":"EUR"},{"label":{"fr":"","en":"Non-current liabilities","es":""},"value":"720000","unit":"EUR"},{"label":{"fr":"","en":"Profit from continuing operations","es":""},"value":"118000","unit":"EUR"},{"label":{"fr":"","en":"Other comprehensive income","es":""},"value":"-8000","unit":"EUR"}],"steps":[{"id":"a","label":{"fr":"","en":"Summarised net assets","es":""},"answer":700000,"tolerance":0,"unit":"EUR"},{"id":"b","label":{"fr":"","en":"Total comprehensive income","es":""},"answer":110000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"a","meaning":{"fr":"","en":"Summarised net assets","es":""},"expression":"a + b - c - d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Current assets","es":""},"value":540000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Non-current assets","es":""},"value":1260000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Current liabilities","es":""},"value":380000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Non-current liabilities","es":""},"value":720000,"unit":"EUR"}],"result":700000,"unit":"EUR"}],"rationale":{"fr":"","en":"Total comprehensive income: €118,000 + (−€8,000) = €110,000 (IFRS 12, para. B12).","es":""},"references":["REF.IFRS12.B12"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000044","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JAASSOCIATES.SUMMARISED_INFORMATION"],"dimension":"RECOGNITION","format":"MATCHING","context":"RETAIL","tested_point":"SUMMARY_HEADINGS_MATCHING","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000006","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000006","section_id":"rule-summarised"},"references":["IFRS 12 §B12"],"exercise":{"prompt":{"fr":"","en":"Match each heading of the summarised information of a material joint venture or associate to its content.","es":""},"explanation":{"fr":"","en":"Financial position, performance, comprehensive income and dividends received make up the summarised information (IFRS 12, para. B12).","es":""},"common_error":{"fr":"","en":"Placing dividends received in the investee’s performance.","es":""},"format":"MATCHING","left":[{"id":"l1","text":{"fr":"","en":"Financial position","es":""}},{"id":"l2","text":{"fr":"","en":"Performance","es":""}},{"id":"l3","text":{"fr":"","en":"Comprehensive income","es":""}},{"id":"l4","text":{"fr":"","en":"Distributions","es":""}}],"right":[{"id":"r2","text":{"fr":"","en":"Revenue and profit from continuing operations","es":""}},{"id":"r4","text":{"fr":"","en":"Dividends received from the investee","es":""}},{"id":"r1","text":{"fr":"","en":"Current and non-current assets and liabilities","es":""}},{"id":"r3","text":{"fr":"","en":"Other comprehensive income and total comprehensive income","es":""}}],"pairs":[{"left":"l1","right":"r1"},{"left":"l2","right":"r2"},{"left":"l3","right":"r3"},{"left":"l4","right":"r4"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000045","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JAASSOCIATES.SUMMARISED_INFORMATION"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"FOOD","tested_point":"SUMMARISED_ERROR_SPOT","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000006","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000006","section_id":"rule-summarised"},"references":["IFRS 12 §B12"],"exercise":{"prompt":{"fr":"","en":"Spot the erroneous statement about the summarised information of a material associate.","es":""},"explanation":{"fr":"","en":"Dividends received are disclosed along with the summarised information (IFRS 12, para. B12).","es":""},"common_error":{"fr":"","en":"Neglecting distributions received, which are a real flow for the investor.","es":""},"format":"ERROR_SPOT","statements":[{"id":"s1","text":{"fr":"","en":"Assets and liabilities are presented distinguishing current from non-current.","es":""},"erroneous":false},{"id":"s2","text":{"fr":"","en":"Dividends received from the entity are not part of the information to provide.","es":""},"erroneous":true,"correction":{"fr":"","en":"The entity discloses the dividends received along with the summarised information (IFRS 12, para. B12).","es":""}},{"id":"s3","text":{"fr":"","en":"Other comprehensive income and total comprehensive income are given.","es":""},"erroneous":false},{"id":"s4","text":{"fr":"","en":"Revenue and profit from continuing operations are given.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000046","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JAASSOCIATES.MATERIAL_ENTITIES"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"REAL_ESTATE","tested_point":"EQUITY_METHOD_SINGLE_LINE_WHY","difficulty":"BEGINNER","estimated_time_s":60,"lesson_id":"LS.IFRS12.000006","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000006","section_id":"understand"},"references":["IFRS 12 §20","IFRS 12 §21"],"exercise":{"prompt":{"fr":"","en":"An equity-accounted joint venture appears on only one line of the investor’s balance sheet. What does IFRS 12 seek to make up for?","es":""},"explanation":{"fr":"","en":"IFRS 12 makes up for this limited view with information on the nature, extent and financial effects of the interest (IFRS 12).","es":""},"common_error":{"fr":"","en":"Thinking the single line already informs about risks.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The fact that the joint venture pays no dividends to the investor","es":""},"correct":false,"feedback":{"fr":"","en":"IFRS 12 does not aim to make up for an absence of dividends (IFRS 12).","es":""}},{"id":"B","text":{"fr":"","en":"The choice of the equity method rather than full consolidation","es":""},"correct":false,"feedback":{"fr":"","en":"The choice of method is for other standards; IFRS 12 governs the disclosure (IFRS 12).","es":""}},{"id":"C","text":{"fr":"","en":"The joint venture not being listed on a regulated market","es":""},"correct":false,"feedback":{"fr":"","en":"A listing is not the subject of the IFRS 12 objective (IFRS 12).","es":""}},{"id":"D","text":{"fr":"","en":"The lack of view on the nature, extent and effects of the interest","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000047","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JAASSOCIATES.SUMMARISED_INFORMATION"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"TRANSPORT","tested_point":"NO_TOTAL_COLUMN","difficulty":"INTERMEDIATE","estimated_time_s":30,"lesson_id":"LS.IFRS12.000006","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000006","section_id":"rule-individual"},"references":["IFRS 12 §4","IFRS 12"],"exercise":{"prompt":{"fr":"","en":"To lighten the notes, an entity may present a single \"total of material joint ventures\" column in place of summarised information for each joint venture.","es":""},"explanation":{"fr":"","en":"The summarised information is provided entity by entity, without aggregation (IFRS 12, paras. 4, 21 and B12).","es":""},"common_error":{"fr":"","en":"Applying the general freedom to aggregate to summarised information.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000048","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JAASSOCIATES.RECONCILIATION"],"dimension":"CALCULATION","format":"CALCULATION","context":"ENERGY","tested_point":"CARRYING_AMOUNT_RECONCILIATION_CALC","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS12.000007","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000007","section_id":"numeric-reconciliation"},"references":["IFRS 12 §B14","IFRS 12"],"exercise":{"prompt":{"fr":"","en":"Ardent SA holds 30% of the joint venture Belforte SA, whose summarised net assets are €1,800,000. The carrying amount of the interest includes goodwill of €80,000 and a fair value adjustment of −€25,000. Calculate the share of summarised net assets and the carrying amount of the interest.","es":""},"explanation":{"fr":"","en":"Share: €1,800,000 × 30% = €540,000. Carrying amount: €540,000 + €80,000 + (−€25,000) = €595,000 (IFRS 12).","es":""},"common_error":{"fr":"","en":"Adding the negative adjustment instead of deducting it.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Belforte’s summarised net assets","es":""},"value":"1800000","unit":"EUR"},{"label":{"fr":"","en":"Investor’s share (in %)","es":""},"value":"30","unit":"PERCENT"},{"label":{"fr":"","en":"Goodwill included","es":""},"value":"80000","unit":"EUR"},{"label":{"fr":"","en":"Fair value adjustment","es":""},"value":"-25000","unit":"EUR"}],"steps":[{"id":"a","label":{"fr":"","en":"Share of summarised net assets","es":""},"answer":540000,"tolerance":0,"unit":"EUR"},{"id":"b","label":{"fr":"","en":"Carrying amount of the interest","es":""},"answer":595000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"a","meaning":{"fr":"","en":"Share of summarised net assets","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Belforte’s summarised net assets","es":""},"value":1800000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Investor’s share (in %)","es":""},"value":30,"unit":"PERCENT"}],"result":540000,"unit":"EUR"}],"rationale":{"fr":"","en":"Carrying amount: €540,000 + €80,000 + (−€25,000) = €595,000 (IFRS 12).","es":""},"references":["REF.IFRS12.B14","REF.IFRS12.IAS28.ASSOCIATES"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000049","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JAASSOCIATES.RECONCILIATION"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"FINANCE","tested_point":"CARRYING_VS_SHARE_GAP","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IFRS12.000007","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000007","section_id":"rule-reconciliation"},"references":["IFRS 12 §B14"],"exercise":{"prompt":{"fr":"","en":"The carrying amount of Fabrel SA’s interest in an associate is €925,000, whereas its share of the summarised net assets is €780,000. How does the reconciliation explain the €145,000 difference?","es":""},"explanation":{"fr":"","en":"The difference is explained by goodwill and fair value adjustments included in the carrying amount (IFRS 12).","es":""},"common_error":{"fr":"","en":"Believing that the carrying amount must equal the share of net assets.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"By the goodwill and fair value adjustments in the carrying amount","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"By the dividends received from the associate during the year just ended","es":""},"correct":false,"feedback":{"fr":"","en":"Dividends received are disclosed separately; they do not explain the carrying amount difference (IFRS 12).","es":""}},{"id":"C","text":{"fr":"","en":"By a calculation error, the carrying amount having to equal the share","es":""},"correct":false,"feedback":{"fr":"","en":"No rule requires this equality: the reconciliation serves to explain the difference (IFRS 12).","es":""}},{"id":"D","text":{"fr":"","en":"By the investor’s own profit for the year, added to the share","es":""},"correct":false,"feedback":{"fr":"","en":"The investor’s own profit is not part of building the carrying amount of the interest (IFRS 12).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000050","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JAASSOCIATES.RESTRICTIONS_AND_LOSSES"],"dimension":"CALCULATION","format":"CALCULATION","context":"INDUSTRY","tested_point":"UNRECOGNISED_LOSSES_CUMULATIVE_CALC","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS12.000007","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000007","section_id":"numeric-losses"},"references":["IFRS 12 §22"],"exercise":{"prompt":{"fr":"","en":"Gordal SA has stopped recognising its share of the losses of the associate Hamel SA, of which it holds 40%. At the start, the cumulative unrecognised share is €58,000. Hamel loses €110,000 in the year. Calculate the unrecognised share for the period and the closing cumulative amount.","es":""},"explanation":{"fr":"","en":"Share for the period: €110,000 × 40% = €44,000. Closing cumulative amount: €58,000 + €44,000 = €102,000 (IFRS 12).","es":""},"common_error":{"fr":"","en":"Showing only the share for the period, without the cumulative amount.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Hamel’s loss","es":""},"value":"110000","unit":"EUR"},{"label":{"fr":"","en":"Percentage held (in %)","es":""},"value":"40","unit":"PERCENT"},{"label":{"fr":"","en":"Cumulative unrecognised share at the start","es":""},"value":"58000","unit":"EUR"}],"steps":[{"id":"a","label":{"fr":"","en":"Unrecognised share for the period","es":""},"answer":44000,"tolerance":0,"unit":"EUR"},{"id":"b","label":{"fr":"","en":"Cumulative unrecognised share","es":""},"answer":102000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"a","meaning":{"fr":"","en":"Unrecognised share for the period","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Hamel’s loss","es":""},"value":110000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Percentage held (in %)","es":""},"value":40,"unit":"PERCENT"}],"result":44000,"unit":"EUR"},{"step":"b","meaning":{"fr":"","en":"Cumulative unrecognised share","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cumulative unrecognised share at the start","es":""},"value":58000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Unrecognised share for the period","es":""},"value":44000,"unit":"EUR"}],"result":102000,"unit":"EUR"}],"rationale":{"fr":"","en":"Closing cumulative amount: €58,000 + €44,000 = €102,000 (IFRS 12).","es":""},"references":["REF.IFRS12.22"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000051","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JAASSOCIATES.COMMITMENTS_CONTINGENT"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"REAL_ESTATE","tested_point":"COMMITMENTS_ISOLATED_SORT","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000007","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000007","section_id":"rule-commitments"},"references":["IFRS 12 §23"],"exercise":{"prompt":{"fr":"","en":"Sort each item: to be disclosed separately (tied to joint ventures or associates) or left among the entity’s general commitments.","es":""},"explanation":{"fr":"","en":"Joint venture commitments and contingent liabilities of joint ventures and associates are isolated; the entity’s own commitments stay with the others (IFRS 12).","es":""},"common_error":{"fr":"","en":"Burying the investees’ items among the general commitments.","es":""},"format":"CLASSIFICATION","categories":[{"id":"sep","text":{"fr":"","en":"Disclosed separately","es":""}},{"id":"gen","text":{"fr":"","en":"General commitments","es":""}}],"items":[{"id":"i1","text":{"fr":"","en":"Commitment to contribute additional capital to a joint venture","es":""},"category":"sep"},{"id":"i2","text":{"fr":"","en":"Commitment to buy equipment intended for the parent’s own use","es":""},"category":"gen"},{"id":"i3","text":{"fr":"","en":"Contingent liability tied to a dispute of an associate, an outflow of resources being possible","es":""},"category":"sep"},{"id":"i4","text":{"fr":"","en":"Commitment for works in a warehouse owned by a consolidated subsidiary","es":""},"category":"gen"},{"id":"i5","text":{"fr":"","en":"Commitment to fund the cash needs of a joint venture","es":""},"category":"sep"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000052","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JAASSOCIATES.COMMITMENTS_CONTINGENT"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"AGRI","tested_point":"REMOTE_CONTINGENT_LIABILITY","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IFRS12.000007","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000007","section_id":"rule-commitments"},"references":["IFRS 12 §23"],"exercise":{"prompt":{"fr":"","en":"An associate of Falcor SA is the subject of a dispute whose outflow of resources is judged remote. What does IFRS 12 say about the corresponding contingent liability?","es":""},"explanation":{"fr":"","en":"Contingent liabilities of associates are disclosed unless the probability of an outflow of resources is remote (IFRS 12).","es":""},"common_error":{"fr":"","en":"Disclosing a contingent liability whose outflow is unlikely.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It is disclosed separately whatever the probability of an outflow of resources","es":""},"correct":false,"feedback":{"fr":"","en":"A remote probability of outflow removes the disclosure (IFRS 12).","es":""}},{"id":"B","text":{"fr":"","en":"It is recognised as a provision in Falcor’s balance sheet, for its share","es":""},"correct":false,"feedback":{"fr":"","en":"IFRS 12 governs disclosure, not the recognition of a provision (IFRS 12).","es":""}},{"id":"C","text":{"fr":"","en":"It need not be disclosed, the probability of an outflow being remote","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"It is included in the group’s general commitments, with those of the parent","es":""},"correct":false,"feedback":{"fr":"","en":"Contingent liabilities of associates are isolated from other items when they are to be disclosed (IFRS 12).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000053","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JAASSOCIATES.RESTRICTIONS_AND_LOSSES"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"FINANCE","tested_point":"FUNDS_TRANSFER_RESTRICTION_TF","difficulty":"INTERMEDIATE","estimated_time_s":30,"lesson_id":"LS.IFRS12.000007","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000007","section_id":"rule-losses"},"references":["IFRS 12 §22"],"exercise":{"prompt":{"fr":"","en":"Significant restrictions on the transfer of funds from a joint venture to the investor (dividends, loan repayments) are among the information to report.","es":""},"explanation":{"fr":"","en":"The entity reports significant restrictions on the transfer of funds (IFRS 12).","es":""},"common_error":{"fr":"","en":"Restricting the reporting of restrictions to consolidated subsidiaries.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000054","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JAASSOCIATES.RECONCILIATION","IFRS12.JAASSOCIATES.RESTRICTIONS_AND_LOSSES","IFRS12.JAASSOCIATES.COMMITMENTS_CONTINGENT"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"RETAIL","tested_point":"BEYOND_SUMMARY_ERROR_SPOT","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000007","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000007","section_id":"pitfalls"},"references":["IFRS 12 §B14","IFRS 12 §22","IFRS 12 §23"],"exercise":{"prompt":{"fr":"","en":"Spot the erroneous statement about the reconciliation, unrecognised losses and commitments.","es":""},"explanation":{"fr":"","en":"The unrecognised share of losses is disclosed for the period and cumulatively (IFRS 12).","es":""},"common_error":{"fr":"","en":"Not accumulating the unrecognised share over several years.","es":""},"format":"ERROR_SPOT","statements":[{"id":"s1","text":{"fr":"","en":"The reconciliation shows why the carrying amount differs from the share of summarised net assets.","es":""},"erroneous":false},{"id":"s2","text":{"fr":"","en":"Commitments relating to joint ventures are disclosed separately from other commitments.","es":""},"erroneous":false},{"id":"s3","text":{"fr":"","en":"For the unrecognised share of losses, only the share for the period is given; the cumulative amount is not required.","es":""},"erroneous":true,"correction":{"fr":"","en":"The unrecognised share is disclosed for the period and cumulatively (IFRS 12).","es":""}},{"id":"s4","text":{"fr":"","en":"The equity method itself is a matter for IAS 28, not IFRS 12.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000055","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JAASSOCIATES.RECONCILIATION"],"dimension":"APPLICATION","format":"MULTIPLE_CHOICE","context":"TECH","tested_point":"RECONCILIATION_COMPONENTS_MULTI","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IFRS12.000007","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000007","section_id":"rule-reconciliation"},"references":["IFRS 12 §B14"],"exercise":{"prompt":{"fr":"","en":"Which items go into building the carrying amount of the interest as the reconciliation presents it? (several answers)","es":""},"explanation":{"fr":"","en":"Share of summarised net assets, goodwill and fair value adjustments; neither the investor’s dividends nor its own profit (IFRS 12).","es":""},"common_error":{"fr":"","en":"Mixing items specific to the investor into the carrying amount.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The fair value adjustments taken into account in that amount","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The dividends that the investor pays to its own shareholders","es":""},"correct":false,"feedback":{"fr":"","en":"The investor’s dividends to its shareholders do not enter the carrying amount of the interest (IFRS 12).","es":""}},{"id":"C","text":{"fr":"","en":"The investor’s own profit for the year","es":""},"correct":false,"feedback":{"fr":"","en":"The investor’s profit is not a component of the reconciliation (IFRS 12).","es":""}},{"id":"D","text":{"fr":"","en":"The share of the investee’s summarised net assets","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The goodwill included in the carrying amount of the interest","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000056","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.UCSE.DEFINITION"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"STRUCTURED_ENTITY_EXAMPLE_TF","difficulty":"BEGINNER","estimated_time_s":30,"lesson_id":"LS.IFRS12.000008","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000008","section_id":"rule-definition"},"references":["IFRS 12"],"exercise":{"prompt":{"fr":"","en":"An entity whose voting rights relate only to administrative tasks, with the relevant activities directed by contractual arrangements, is an example of a structured entity.","es":""},"explanation":{"fr":"","en":"This is the example given by the definition (IFRS 12, Appendix A).","es":""},"common_error":{"fr":"","en":"Restricting the notion to securitisation vehicles.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000057","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.UCSE.DEFINITION"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"FINANCE","tested_point":"STRUCTURED_VS_ORDINARY_SORT","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000008","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000008","section_id":"example-definition"},"references":["IFRS 12","IFRS 12 §B22","IFRS 12 §B23"],"exercise":{"prompt":{"fr":"","en":"Sort each entity: structured entity (voting rights are not the dominant factor) or ordinary entity (votes decide).","es":""},"explanation":{"fr":"","en":"One judges the design: if key decisions are fixed by contract and votes are limited to administration, the entity is structured (IFRS 12, Appendix A).","es":""},"common_error":{"fr":"","en":"Judging by legal form or number of shareholders.","es":""},"format":"CLASSIFICATION","categories":[{"id":"se","text":{"fr":"","en":"Structured entity","es":""}},{"id":"ord","text":{"fr":"","en":"Ordinary entity","es":""}}],"items":[{"id":"i1","text":{"fr":"","en":"Vehicle set up to hold receivables; administrative votes, key decisions fixed by contract","es":""},"category":"se"},{"id":"i2","text":{"fr":"","en":"Trading company whose general meeting votes on strategy and appoints the managers","es":""},"category":"ord"},{"id":"i3","text":{"fr":"","en":"Fund whose manager invests under a written mandate; holders vote only on administrative matters","es":""},"category":"se"},{"id":"i4","text":{"fr":"","en":"Family business with three shareholders who each vote on important decisions","es":""},"category":"ord"},{"id":"i5","text":{"fr":"","en":"Project-finance entity whose key decisions are programmed in the contracts from its creation","es":""},"category":"se"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000058","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.UCSE.DEFINITION"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"REAL_ESTATE","tested_point":"SECURITISATION_VEHICLE_CONCLUSION","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IFRS12.000008","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000008","section_id":"rule-definition"},"references":["IFRS 12"],"exercise":{"prompt":{"fr":"","en":"The Dolmen Funding vehicle was set up to buy mortgage loans and issue bonds. Its voting rights relate only to administrative tasks; a management contract fixes the key decisions. What is the conclusion?","es":""},"explanation":{"fr":"","en":"Votes are not the dominant factor, the relevant activities being directed by contract: it is a structured entity (IFRS 12, Appendix A).","es":""},"common_error":{"fr":"","en":"Judging by the presence of voting rights rather than their role.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It is not a structured entity, because it issues tradable bonds","es":""},"correct":false,"feedback":{"fr":"","en":"Issuing bonds does not rule out structured entity status; the design decides (IFRS 12, Appendix A).","es":""}},{"id":"B","text":{"fr":"","en":"It is an ordinary company, since voting rights are attached to its securities","es":""},"correct":false,"feedback":{"fr":"","en":"The presence of voting rights is not enough: it is their role that counts (IFRS 12, Appendix A).","es":""}},{"id":"C","text":{"fr":"","en":"It is an ordinary entity, because the management contract is concluded with a third party","es":""},"correct":false,"feedback":{"fr":"","en":"A management contract that fixes the key decisions is precisely an indicator of structured design (IFRS 12, Appendix A).","es":""}},{"id":"D","text":{"fr":"","en":"It is a structured entity, because voting rights are not the dominant factor","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000059","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.UCSE.OBJECTIVE"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"FINANCE","tested_point":"CONSOLIDATED_VEHICLE_WHICH_BLOCK","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IFRS12.000008","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000008","section_id":"example-objective"},"references":["IFRS 12 §24","IFRS 12 §10"],"exercise":{"prompt":{"fr":"","en":"The Pellan group controls and consolidates a securitisation vehicle. Which block of IFRS 12 information applies to this interest?","es":""},"explanation":{"fr":"","en":"Control decides the block; a consolidated vehicle falls under the information on subsidiaries (IFRS 12, para. 10), not that on unconsolidated structured entities (IFRS 12, para. 24).","es":""},"common_error":{"fr":"","en":"Applying the unconsolidated-entity information to a consolidated entity.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The information on unconsolidated structured entities, because it is a structured entity","es":""},"correct":false,"feedback":{"fr":"","en":"That information concerns unconsolidated entities; here the vehicle is consolidated (IFRS 12, para. 24).","es":""}},{"id":"B","text":{"fr":"","en":"The information on subsidiaries, since the vehicle is controlled and consolidated","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The information on associates, because a securitisation vehicle is a financial investment","es":""},"correct":false,"feedback":{"fr":"","en":"The vehicle is controlled: it is treated as a subsidiary, not as an associate (IFRS 12, para. 10).","es":""}},{"id":"D","text":{"fr":"","en":"No block, consolidation removing the need to report on the interest","es":""},"correct":false,"feedback":{"fr":"","en":"Consolidation does not remove disclosure: the information on subsidiaries applies (IFRS 12, para. 10).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000060","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.UCSE.OBJECTIVE","IFRS12.UCSE.DEFINITION"],"dimension":"RECOGNITION","format":"MATCHING","context":"FINANCE","tested_point":"VEHICLE_TO_BLOCK_MATCHING","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000008","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000008","section_id":"example-objective"},"references":["IFRS 12 §24","IFRS 12 §10","IFRS 12 §21"],"exercise":{"prompt":{"fr":"","en":"Match each situation to the block of IFRS 12 information that applies.","es":""},"explanation":{"fr":"","en":"Control, joint control or absence of control determines the block of information (IFRS 12, para. 10) (IFRS 12, para. 21) (IFRS 12, para. 24).","es":""},"common_error":{"fr":"","en":"Choosing the block by the nature of the entity rather than by control.","es":""},"format":"MATCHING","left":[{"id":"l1","text":{"fr":"","en":"Vehicle controlled and consolidated","es":""}},{"id":"l2","text":{"fr":"","en":"Uncontrolled vehicle in which the group has invested","es":""}},{"id":"l3","text":{"fr":"","en":"Entity under the joint control of two investors","es":""}}],"right":[{"id":"r2","text":{"fr":"","en":"Information on unconsolidated structured entities","es":""}},{"id":"r3","text":{"fr":"","en":"Information on joint arrangements","es":""}},{"id":"r1","text":{"fr":"","en":"Information on subsidiaries","es":""}}],"pairs":[{"left":"l1","right":"r1"},{"left":"l2","right":"r2"},{"left":"l3","right":"r3"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000061","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.UCSE.DEFINITION","IFRS12.UCSE.OBJECTIVE"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"AGRI","tested_point":"STRUCTURED_ENTITY_ERROR_SPOT","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000008","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000008","section_id":"pitfalls"},"references":["IFRS 12","IFRS 12 §24"],"exercise":{"prompt":{"fr":"","en":"Spot the erroneous statement about structured entities.","es":""},"explanation":{"fr":"","en":"The information on unconsolidated structured entities concerns entities that the entity does not consolidate (IFRS 12, para. 24).","es":""},"common_error":{"fr":"","en":"Applying this information to consolidated structured entities.","es":""},"format":"ERROR_SPOT","statements":[{"id":"s1","text":{"fr":"","en":"Few voting rights are not enough to make an entity a structured entity.","es":""},"erroneous":false},{"id":"s2","text":{"fr":"","en":"Classifying an entity as structured is a judgement about its design.","es":""},"erroneous":false},{"id":"s3","text":{"fr":"","en":"For unconsolidated structured entities, the entity reports the nature and extent of its interests.","es":""},"erroneous":false},{"id":"s4","text":{"fr":"","en":"The information on unconsolidated structured entities also applies to structured entities that the entity consolidates.","es":""},"erroneous":true,"correction":{"fr":"","en":"They concern unconsolidated entities; consolidated entities fall under the information on subsidiaries (IFRS 12, para. 24).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000062","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.UCSE.PAST_INVOLVEMENT"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"FINANCE","tested_point":"PAST_INVOLVEMENT_COVERAGE","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IFRS12.000008","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000008","section_id":"rule-past"},"references":["IFRS 12 §25"],"exercise":{"prompt":{"fr":"","en":"What do the information on the risks of unconsolidated structured entities include, beyond current contracts?","es":""},"explanation":{"fr":"","en":"They include the exposure from past involvement, notably that of a sponsor, even without a contractual link at the reporting date (IFRS 12).","es":""},"common_error":{"fr":"","en":"Staying with the contract in force.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The dividends that the structured entity pays to its security holders","es":""},"correct":false,"feedback":{"fr":"","en":"Distributions to holders are not the risk exposure concerned (IFRS 12).","es":""}},{"id":"B","text":{"fr":"","en":"The parent’s own risks, unrelated to the structured entity concerned","es":""},"correct":false,"feedback":{"fr":"","en":"The information concerns the risks associated with interests in these entities (IFRS 12).","es":""}},{"id":"C","text":{"fr":"","en":"The exposure from past involvement, notably as a sponsor","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The contracts in force at the reporting date, former commitments being irrelevant","es":""},"correct":false,"feedback":{"fr":"","en":"Past involvement can leave an exposure that remains to be described (IFRS 12).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000063","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.UCSE.PAST_INVOLVEMENT"],"dimension":"PROFESSIONAL_JUDGMENT","format":"SINGLE_CHOICE","context":"FINANCE","tested_point":"SPONSOR_PAST_INVOLVEMENT_NO_CONTRACT","difficulty":"ADVANCED","estimated_time_s":90,"lesson_id":"LS.IFRS12.000008","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000008","section_id":"rule-past"},"references":["IFRS 12 §25"],"exercise":{"prompt":{"fr":"","en":"Sorrel SA helped create the Larkin vehicle and then sold all its securities before the reporting date: no contractual link remains at that date. Sorrel is nevertheless exposed to requests for support linked to its reputation as a sponsor. What must it consider?","es":""},"explanation":{"fr":"","en":"Exposure from past involvement, notably as a sponsor, may call for risk information even without a contractual link at the reporting date (IFRS 12).","es":""},"common_error":{"fr":"","en":"Stopping at the contract in force at the reporting date.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Whether this past exposure calls for risk information, with no contractual link","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Nothing: with no contractual link at the reporting date, it need not report on Larkin","es":""},"correct":false,"feedback":{"fr":"","en":"The absence of a contractual link is not enough to rule out information on the risk from past involvement (IFRS 12).","es":""}},{"id":"C","text":{"fr":"","en":"The contracts in force at the reporting date, since they create the risk","es":""},"correct":false,"feedback":{"fr":"","en":"The risk can remain without a contract in force; the residual exposure counts (IFRS 12).","es":""}},{"id":"D","text":{"fr":"","en":"Information on Larkin as a consolidated subsidiary of Sorrel","es":""},"correct":false,"feedback":{"fr":"","en":"Sorrel no longer controls Larkin; it is not a consolidated subsidiary (IFRS 12).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000064","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.CONSOLIDATED_SE_RISKS"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"ENERGY","tested_point":"SUPPORT_TO_CONSOLIDATED_SE","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000008","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000008","section_id":"rule-consolidated"},"references":["IFRS 12 §14"],"exercise":{"prompt":{"fr":"","en":"The Veltran group injected cash into a structured vehicle that it consolidates, without being contractually bound to do so, to avoid a default. What does it conclude about the information to provide?","es":""},"explanation":{"fr":"","en":"The risks of consolidated structured entities, notably financial support, are explained; support without a contractual obligation belongs there (IFRS 12).","es":""},"common_error":{"fr":"","en":"Thinking that consolidation makes any information on support unnecessary.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"This support is part of the consolidated structured entity’s risks and is explained","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Nothing to explain: consolidation already includes these flows in the group statements","es":""},"correct":false,"feedback":{"fr":"","en":"Consolidation does not explain the risk or the support: the risk disclosures apply (IFRS 12).","es":""}},{"id":"C","text":{"fr":"","en":"Support is reported if it follows from a written contract with the vehicle, and not otherwise","es":""},"correct":false,"feedback":{"fr":"","en":"Financial support is covered whatever its basis, contractual or not (IFRS 12).","es":""}},{"id":"D","text":{"fr":"","en":"It has to be presented as a transaction with an associate","es":""},"correct":false,"feedback":{"fr":"","en":"The vehicle is consolidated: it is not an associate (IFRS 12).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000065","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.CONSOLIDATED_SE_RISKS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"INDUSTRY","tested_point":"CONSOLIDATED_SE_SUPPORT_TF","difficulty":"INTERMEDIATE","estimated_time_s":30,"lesson_id":"LS.IFRS12.000008","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000008","section_id":"rule-consolidated"},"references":["IFRS 12 §14"],"exercise":{"prompt":{"fr":"","en":"Financial support given to a consolidated structured entity is part of the risks to explain in the notes.","es":""},"explanation":{"fr":"","en":"The risks of consolidated structured entities, notably financial support, are explained (IFRS 12).","es":""},"common_error":{"fr":"","en":"Thinking that consolidation makes the support irrelevant.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000066","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JUDGEMENTS.INVESTMENT_ENTITY_STATUS"],"dimension":"PROFESSIONAL_JUDGMENT","format":"SINGLE_CHOICE","context":"FINANCE","tested_point":"MISSING_TYPICAL_CHARACTERISTIC","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000009","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000009","section_id":"rule-status"},"references":["IFRS 12 §9A"],"exercise":{"prompt":{"fr":"","en":"The Rhodan fund concludes that it is an investment entity although it lacks one of the typical characteristics. What must it disclose?","es":""},"explanation":{"fr":"","en":"The entity explains the significant judgements behind its status and why it still concludes it has that status (IFRS 12, para. 9A).","es":""},"common_error":{"fr":"","en":"Believing that the absence of a typical characteristic removes the status without explanation.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Nothing: without a typical characteristic, it loses investment entity status","es":""},"correct":false,"feedback":{"fr":"","en":"The standard on the contrary provides for explaining why the entity still concludes it has the status (IFRS 12, para. 9A).","es":""}},{"id":"B","text":{"fr":"","en":"The list of characteristics it has, without commenting on the one that is missing","es":""},"correct":false,"feedback":{"fr":"","en":"It is precisely the missing characteristic that must be explained (IFRS 12, para. 9A).","es":""}},{"id":"C","text":{"fr":"","en":"The significant judgements behind its status and the reason why it still concludes so","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"A mention that the fund is run by a licensed professional","es":""},"correct":false,"feedback":{"fr":"","en":"The manager’s status does not replace the explanation of the judgement on the entity’s status (IFRS 12, para. 9A).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000067","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.INVESTMENT.UNCONSOLIDATED_SUBS"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"FINANCE","tested_point":"UNCONSOLIDATED_SUB_INFO_SORT","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000009","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000009","section_id":"rule-subs"},"references":["IFRS 12 §19A","IFRS 12 §19B"],"exercise":{"prompt":{"fr":"","en":"Sort each item of information: required for each unconsolidated subsidiary of an investment entity, or not required under this heading.","es":""},"explanation":{"fr":"","en":"Name, principal place of business, ownership interest and, if different, share of voting rights (IFRS 12, para. 19B); no consolidation detail.","es":""},"common_error":{"fr":"","en":"Applying consolidation information to an unconsolidated subsidiary.","es":""},"format":"CLASSIFICATION","categories":[{"id":"req","text":{"fr":"","en":"Required","es":""}},{"id":"no","text":{"fr":"","en":"Not required under this heading","es":""}}],"items":[{"id":"i1","text":{"fr":"","en":"The name of the unconsolidated subsidiary","es":""},"category":"req"},{"id":"i2","text":{"fr":"","en":"Its principal place of business","es":""},"category":"req"},{"id":"i3","text":{"fr":"","en":"The line-by-line detail of its assets in the group’s consolidated balance sheet","es":""},"category":"no"},{"id":"i4","text":{"fr":"","en":"The ownership interest held","es":""},"category":"req"},{"id":"i5","text":{"fr":"","en":"The share of voting rights, if it differs from the ownership interest","es":""},"category":"req"},{"id":"i6","text":{"fr":"","en":"The intragroup eliminations applied to this subsidiary","es":""},"category":"no"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000068","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.INVESTMENT.SUPPORT_AND_RESTRICTIONS","IFRS12.INVESTMENT.UNCONSOLIDATED_SUBS"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"FINANCE","tested_point":"INVESTMENT_ENTITY_ERROR_SPOT","difficulty":"ADVANCED","estimated_time_s":90,"lesson_id":"LS.IFRS12.000009","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000009","section_id":"rule-support"},"references":["IFRS 12 §25A","IFRS 12 §19B","IFRS 12 §19D","IFRS 12 §19E"],"exercise":{"prompt":{"fr":"","en":"Spot the erroneous statement about the disclosures of an investment entity.","es":""},"explanation":{"fr":"","en":"For an unconsolidated structured entity that it controls, the investment entity need not provide the usual information; its own specific information applies (IFRS 12, para. 25A).","es":""},"common_error":{"fr":"","en":"Ignoring the relief specific to investment entities.","es":""},"format":"ERROR_SPOT","statements":[{"id":"s1","text":{"fr":"","en":"It must provide the usual information on unconsolidated structured entities for an unconsolidated structured entity that it controls.","es":""},"erroneous":true,"correction":{"fr":"","en":"It is relieved of this: its own specific information applies instead (IFRS 12, para. 25A).","es":""}},{"id":"s2","text":{"fr":"","en":"The investment entity describes the nature and extent of significant restrictions on the transfer of funds by its unconsolidated subsidiaries.","es":""},"erroneous":false},{"id":"s3","text":{"fr":"","en":"It describes its commitments or intentions to provide financial support.","es":""},"erroneous":false},{"id":"s4","text":{"fr":"","en":"For each unconsolidated subsidiary, it states the name, principal place of business and ownership interest.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000069","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.INVESTMENT.SUPPORT_AND_RESTRICTIONS","IFRS12.INVESTMENT.UNCONSOLIDATED_SUBS"],"dimension":"APPLICATION","format":"MULTIPLE_CHOICE","context":"FINANCE","tested_point":"INVESTMENT_ENTITY_INFO_MULTI","difficulty":"ADVANCED","estimated_time_s":90,"lesson_id":"LS.IFRS12.000009","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000009","section_id":"rule-support"},"references":["IFRS 12 §25A","IFRS 12 §19D","IFRS 12 §19E","IFRS 12 §19B"],"exercise":{"prompt":{"fr":"","en":"Which information does an investment entity provide on its unconsolidated subsidiaries and its support? (several answers)","es":""},"explanation":{"fr":"","en":"Restrictions on the transfer of funds, commitments or intentions to provide support, and its own information instead of the usual information for a controlled unconsolidated structured entity (IFRS 12, para. 25A); no consolidation entries.","es":""},"common_error":{"fr":"","en":"Applying consolidation entries to an unconsolidated subsidiary.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The elimination of these subsidiaries’ intragroup transactions from the group’s revenue","es":""},"correct":false,"feedback":{"fr":"","en":"These subsidiaries are not consolidated: their transactions are not eliminated line by line (IFRS 12).","es":""}},{"id":"B","text":{"fr":"","en":"The nature and extent of significant restrictions on the transfer of funds by its unconsolidated subsidiaries","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Its commitments or intentions to provide financial support","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"For an unconsolidated structured entity that it controls, its own information in place of the usual information","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The consolidation entries for each unconsolidated subsidiary","es":""},"correct":false,"feedback":{"fr":"","en":"An unconsolidated subsidiary gives rise to no consolidation entries (IFRS 12).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000070","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JUDGEMENTS.INVESTMENT_ENTITY_STATUS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"STATUS_CHANGE_DISCLOSURE_TF","difficulty":"INTERMEDIATE","estimated_time_s":30,"lesson_id":"LS.IFRS12.000009","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000009","section_id":"rule-status"},"references":["IFRS 12 §9B"],"exercise":{"prompt":{"fr":"","en":"An entity that ceases to be an investment entity has nothing to disclose about that change.","es":""},"explanation":{"fr":"","en":"The entity reports the change of status and explains the reasons (IFRS 12, para. 9B).","es":""},"common_error":{"fr":"","en":"Thinking only the acquisition of the status is to be reported.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000071","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.JUDGEMENTS.INVESTMENT_ENTITY_STATUS","IFRS12.INVESTMENT.UNCONSOLIDATED_SUBS","IFRS12.INVESTMENT.SUPPORT_AND_RESTRICTIONS"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"FINANCE","tested_point":"MINICASE_INVESTMENT_ENTITY_NOTE","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IFRS12.000009","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000009","section_id":"example"},"references":["IFRS 12 §9A","IFRS 12 §19A","IFRS 12 §19B","IFRS 12 §25A"],"exercise":{"prompt":{"fr":"","en":"Prepare Ravel Capital’s notes on its unconsolidated subsidiaries.","es":""},"explanation":{"fr":"","en":"Ownership and voting shares for each unconsolidated subsidiary (IFRS 12, para. 19B); significant restrictions described; relief for the controlled unconsolidated structured entity (IFRS 12, para. 25A).","es":""},"common_error":{"fr":"","en":"Applying consolidation information to the unconsolidated subsidiaries.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Ravel Capital, an investment entity, applies the exception to consolidation. It holds two unconsolidated subsidiaries: the Linden fund (70% of capital and voting rights) and the Orme fund (40% of capital, 60% of voting rights). A local rule limits, significantly, the dividends Orme can pay. Ravel also controls Vecto, an unconsolidated structured entity. *Teaching assumption*: all these facts are case data.","es":""},"parts":[{"prompt":{"fr":"","en":"Which shares does Ravel state for the Orme fund?","es":""},"explanation":{"fr":"","en":"Ownership interest and, if different, share of voting rights (IFRS 12, para. 19B).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"40% of capital, the voting share not being required","es":""},"correct":false,"feedback":{"fr":"","en":"The share of voting rights is stated when it differs from the ownership interest (IFRS 12, para. 19B).","es":""}},{"id":"B","text":{"fr":"","en":"40% of capital and 60% of votes, since the voting share differs","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"60% of capital and 40% of voting rights, swapping the two shares","es":""},"correct":false,"feedback":{"fr":"","en":"The shares are those of the case facts: 40% of capital, 60% of votes (IFRS 12, para. 19B).","es":""}},{"id":"D","text":{"fr":"","en":"A single 50% share, the average of capital and voting rights","es":""},"correct":false,"feedback":{"fr":"","en":"No average is provided: both shares are stated (IFRS 12, para. 19B).","es":""}}],"id":"p1","dimension":"RECOGNITION"},{"prompt":{"fr":"","en":"How should the local rule limiting Orme’s dividends be treated?","es":""},"explanation":{"fr":"","en":"Significant restrictions on the transfer of funds by unconsolidated subsidiaries are described in their nature and extent (IFRS 12).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It ignores it, because Orme is not consolidated and its dividends therefore do not concern the group","es":""},"correct":false,"feedback":{"fr":"","en":"Restrictions on the transfer of funds by unconsolidated subsidiaries are precisely covered (IFRS 12).","es":""}},{"id":"B","text":{"fr":"","en":"It consolidates it: Orme must then be included line by line in Ravel’s statements","es":""},"correct":false,"feedback":{"fr":"","en":"A dividend restriction does not lead to consolidation; it is described (IFRS 12).","es":""}},{"id":"C","text":{"fr":"","en":"It describes the nature and extent of this significant restriction on the transfer of funds","es":""},"correct":true}],"id":"p2","dimension":"APPLICATION"},{"prompt":{"fr":"","en":"For Vecto, an unconsolidated structured entity that Ravel controls, which information does Ravel provide?","es":""},"explanation":{"fr":"","en":"The investment entity need not provide the usual information on unconsolidated structured entities for an entity it controls; its own specific information applies (IFRS 12, para. 25A).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It provides the usual information on unconsolidated structured entities, on top of its own","es":""},"correct":false,"feedback":{"fr":"","en":"The relief applies to an unconsolidated structured entity that it controls (IFRS 12, para. 25A).","es":""}},{"id":"B","text":{"fr":"","en":"It provides no information on Vecto, since it is relieved","es":""},"correct":false,"feedback":{"fr":"","en":"The relief does not remove its own information, which applies instead (IFRS 12, para. 25A).","es":""}},{"id":"C","text":{"fr":"","en":"It is relieved of the usual information; its own specific information applies","es":""},"correct":true}],"id":"p3","dimension":"ANALYSIS"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000072","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.INTERACTIONS.IFRS10","IFRS12.INTERACTIONS.IFRS11_IAS28"],"dimension":"RECOGNITION","format":"MATCHING","context":"GENERIC","tested_point":"QUESTION_TO_STANDARD_MATCHING","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000010","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000010","section_id":"rule-division"},"references":["IFRS 12"],"exercise":{"prompt":{"fr":"","en":"Match each question to the standard that answers it.","es":""},"explanation":{"fr":"","en":"Control is for IFRS 10, the type of arrangement for IFRS 11, the equity method for IAS 28, the disclosure for IFRS 12 (IFRS 12).","es":""},"common_error":{"fr":"","en":"Looking for the criteria for control in IFRS 12.","es":""},"format":"MATCHING","left":[{"id":"l1","text":{"fr":"","en":"Does an entity control a company in which it holds 38% of the votes?","es":""}},{"id":"l2","text":{"fr":"","en":"Is a joint arrangement a joint venture or a joint operation?","es":""}},{"id":"l3","text":{"fr":"","en":"How is an associate equity-accounted?","es":""}},{"id":"l4","text":{"fr":"","en":"Which judgements on control must be explained in the notes?","es":""}}],"right":[{"id":"r3","text":{"fr":"","en":"IAS 28","es":""}},{"id":"r4","text":{"fr":"","en":"IFRS 12","es":""}},{"id":"r1","text":{"fr":"","en":"IFRS 10","es":""}},{"id":"r2","text":{"fr":"","en":"IFRS 11","es":""}}],"pairs":[{"left":"l1","right":"r1"},{"left":"l2","right":"r2"},{"left":"l3","right":"r3"},{"left":"l4","right":"r4"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000073","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.INTERACTIONS.IFRS10","IFRS12.INTERACTIONS.IFRS11_IAS28"],"dimension":"APPLICATION","format":"CLASSIFICATION","context":"INDUSTRY","tested_point":"DECIDE_OR_DISCLOSE_SORT","difficulty":"ADVANCED","estimated_time_s":100,"lesson_id":"LS.IFRS12.000010","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000010","section_id":"example-division"},"references":["IFRS 12"],"exercise":{"prompt":{"fr":"","en":"In the Corvin group file, sort each task: it is decided under another standard (IFRS 10, IFRS 11 or IAS 28) or dealt with in IFRS 12.","es":""},"explanation":{"fr":"","en":"Classification and accounting decisions (principal or agent, joint venture or joint operation, equity-accounted share) fall under IFRS 10, IFRS 11 or IAS 28. IFRS 12 does not decide them: it requires the judgements made to be explained and information to be disclosed, such as the reconciliation of summarised information or support given to a structured entity (IFRS 12).","es":""},"common_error":{"fr":"","en":"Answering \"IFRS 12\" to a question of characterisation or recognition.","es":""},"format":"CLASSIFICATION","categories":[{"id":"other","text":{"fr":"","en":"Other standard: characterise or account","es":""}},{"id":"ifrs12","text":{"fr":"","en":"IFRS 12: disclose","es":""}}],"items":[{"id":"i1","text":{"fr":"","en":"Deciding whether Corvin is principal or agent in a fund it manages","es":""},"category":"other"},{"id":"i2","text":{"fr":"","en":"Writing the explanation of the judgement that led to that decision","es":""},"category":"ifrs12"},{"id":"i3","text":{"fr":"","en":"Classifying the Orfane arrangement as a joint venture or a joint operation","es":""},"category":"other"},{"id":"i4","text":{"fr":"","en":"Preparing the reconciliation of the summarised information with the carrying amount of the interest","es":""},"category":"ifrs12"},{"id":"i5","text":{"fr":"","en":"Calculating the share of profit to be equity-accounted","es":""},"category":"other"},{"id":"i6","text":{"fr":"","en":"Describing the financial support given to a consolidated structured entity","es":""},"category":"ifrs12"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS12.000076","source":"V2","standard_id":"IFRS12","concept_ids":["IFRS12.INTERACTIONS.IFRS10","IFRS12.INTERACTIONS.IFRS11_IAS28"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"FINANCE","tested_point":"INTERACTIONS_ERROR_SPOT","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS12.000010","review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000010","section_id":"pitfalls"},"references":["IFRS 12"],"exercise":{"prompt":{"fr":"","en":"Spot the erroneous statement about the division of roles among IFRS 10, IFRS 11, IAS 28 and IFRS 12.","es":""},"explanation":{"fr":"","en":"The classification of a joint arrangement is for IFRS 11; IFRS 12 only has the judgement explained and information provided (IFRS 12).","es":""},"common_error":{"fr":"","en":"Looking in IFRS 12 for the classification of an arrangement.","es":""},"format":"ERROR_SPOT","statements":[{"id":"s1","text":{"fr":"","en":"The criteria for concluding on control are in IFRS 10, not in IFRS 12.","es":""},"erroneous":false},{"id":"s2","text":{"fr":"","en":"IFRS 12 asks to explain the significant judgements that led to the characterisation of an interest.","es":""},"erroneous":false},{"id":"s3","text":{"fr":"","en":"The carrying amount of an associate is a matter for IAS 28; IFRS 12 asks that it be reconciled to the summarised information.","es":""},"erroneous":false},{"id":"s4","text":{"fr":"","en":"IFRS 12 sets the criteria for classifying an arrangement as a joint venture or a joint operation.","es":""},"erroneous":true,"correction":{"fr":"","en":"That classification is for IFRS 11; IFRS 12 asks that the judgement be explained (IFRS 12).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000001","standard_id":"IFRS12","concept_ids":["IFRS12.SCOPE.APPLICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS12.000001","tested_point":"QST.IFRS12.000001","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000001","section_id":"rule-objective"},"references":["IFRS 12 §1"],"exercise":{"prompt":{"fr":"","en":"What is the objective of the disclosures required by IFRS 12?","es":""},"explanation":{"fr":"","en":"IFRS 12 requires information enabling users to evaluate the nature of the interests held in other entities and the associated risks, and the effects of those interests on financial position, financial performance and cash flows (IFRS 12, para. 1). Trap: Considering that IFRS 12 dictates the accounting for subsidiaries, joint arrangements and associates. Rule to remember: IFRS 12 is a disclosure standard (IFRS 12, para. 1).","es":""},"common_error":{"fr":"","en":"Believing that IFRS 12 sets the accounting for subsidiaries, joint arrangements and associates.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"To set the accounting for subsidiaries, joint arrangements and associates, together with the measurement of the interests the entity holds in each of them.","es":""},"correct":false,"feedback":{"fr":"","en":"IFRS 12 does not set the accounting: it governs the disclosures about interests in other entities, accounting falling under IFRS 10, IFRS 11 and IAS 28 (IFRS 12, para. 1). Rule to remember: IFRS 12 discloses, it does not account (IFRS 12, para. 1).","es":""}},{"id":"B","text":{"fr":"","en":"To enable users to evaluate the nature of the interests held in other entities and the associated risks, and their effects on financial position, financial performance and cash flows.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"To define the criteria for knowing whether one entity controls another, and for deciding which one must present consolidated financial statements.","es":""},"correct":false,"feedback":{"fr":"","en":"The criteria for control are those of IFRS 10; IFRS 12 prescribes only the disclosure about the corresponding judgements (IFRS 12, para. 1). Looking in IFRS 12 for the criteria for control is a mistake of location. Rule to remember: Control is determined by IFRS 10 and explained by IFRS 12 (IFRS 12, para. 1).","es":""}},{"id":"D","text":{"fr":"","en":"To impose a uniform model for presenting the consolidated statement of financial position, so that groups in the same sector publish comparable statements.","es":""},"correct":false,"feedback":{"fr":"","en":"IFRS 12 does not impose a statement of financial position model: it requires information about the nature of interests and risks (IFRS 12, para. 1). Rule to remember: The objective is to evaluate nature, risks and effects (IFRS 12, para. 1).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000002","standard_id":"IFRS12","concept_ids":["IFRS12.SCOPE.APPLICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS12.000002","tested_point":"QST.IFRS12.000002","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000001","section_id":"rule-objective"},"references":["IFRS 12 §1"],"exercise":{"prompt":{"fr":"","en":"IFRS 12 sets the rules for recognising and measuring the entity's subsidiaries, joint arrangements and associates.","es":""},"explanation":{"fr":"","en":"IFRS 12 is a disclosure standard: it requires information enabling users to evaluate the nature of interests in other entities, the associated risks and their effects on financial position, performance and cash flows (IFRS 12, para. 1). Accounting falls under IFRS 10, IFRS 11 and IAS 28. Trap: Looking in IFRS 12 for accounting rules. Rule to remember: IFRS 12 discloses, it does not account (IFRS 12, para. 1).","es":""},"common_error":{"fr":"","en":"Considering that the standard dictates the accounting for subsidiaries, joint arrangements and associates.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000003","standard_id":"IFRS12","concept_ids":["IFRS12.SCOPE.HELD_FOR_SALE"],"dimension":"ANALYSIS","context":"V1_QST.IFRS12.000003","tested_point":"QST.IFRS12.000003","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000001","section_id":"rule-heldforsale"},"references":["IFRS 12 §5A","IFRS 12 §B17"],"exercise":{"prompt":{"fr":"","en":"A colleague writes: \"As soon as an interest in an associate is classified as held for sale under IFRS 5, IFRS 12 no longer applies to that interest.\" What is the error in this reasoning?","es":""},"explanation":{"fr":"","en":"Subject to the B17 exception, IFRS 12 applies to interests classified as held for sale or as discontinued operations under IFRS 5 (IFRS 12, para. 5A); the entity is not required to provide summarised financial information for interests classified as held for sale under IFRS 5 (IFRS 12, para. B17). Trap: Assuming that classification as held for sale exempts the interest from all the standard's disclosures. Rule to remember: Only the summarised information is exempted (IFRS 12, para. B17).","es":""},"common_error":{"fr":"","en":"Assuming that classification as held for sale exempts the interest from all the standard's disclosures.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It forgets that IFRS 12 applies to those interests, and that the exception in B17 exempts any information about associates and joint ventures held for sale.","es":""},"correct":false,"feedback":{"fr":"","en":"The B17 exception is limited to summarised financial information: it does not exempt all information about the interest classified as held for sale (IFRS 12, para. B17). Extending it to all information would invent an exemption. Rule to remember: Held for sale: IFRS 12 applies, except summarised information (IFRS 12, para. B17).","es":""}},{"id":"B","text":{"fr":"","en":"It forgets that classification under IFRS 5 changes nothing for IFRS 12, and that summarised information remains required for those interests with no exception.","es":""},"correct":false,"feedback":{"fr":"","en":"An exception exists: the entity is not required to provide summarised financial information for interests classified as held for sale under IFRS 5 (IFRS 12, para. B17). Stating that this information remains required with no exception ignores B17. Rule to remember: Summarised information is exempted for interests held for sale (IFRS 12, para. B17).","es":""}},{"id":"C","text":{"fr":"","en":"It confuses IFRS 5 with IFRS 11, whose classification as held for sale takes the interest outside the scope of IFRS 12 disclosures.","es":""},"correct":false,"feedback":{"fr":"","en":"Classification under IFRS 5 does not take the interest out of the scope of IFRS 12; nor is there any confusion with IFRS 11 in the reasoning quoted (IFRS 12, para. 5A). Rule to remember: IFRS 5 does not exclude from IFRS 12, apart from the B17 exemption (IFRS 12, para. 5A).","es":""}},{"id":"D","text":{"fr":"","en":"It forgets that IFRS 12 applies to those interests, the exception in B17 exempting only the summarised financial information of those held for sale.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000004","standard_id":"IFRS12","concept_ids":["IFRS12.SCOPE.AGGREGATION"],"dimension":"APPLICATION","context":"V1_VG.IFRS12.000001","tested_point":"VG.IFRS12.000001","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000001","section_id":"rule-detail"},"references":["IFRS 12 §4","IFRS 12"],"exercise":{"prompt":{"fr":"","en":"Delta SA has two material joint ventures, Aqua and Terra, operating in neighbouring sectors. It considers adding their summarised financial information into a single table headed \"joint ventures\" (case facts). What is concluded?","es":""},"explanation":{"fr":"","en":"The entity considers the level of detail necessary to meet the objective, how much emphasis to place on each requirement and the degree of aggregation or disaggregation, but the general aggregation principle in paragraph 4 does not permit aggregating the summarised information on each material joint venture or associate (IFRS 12, paras. 4, 21 and B12); the Interpretations Committee concluded in 2015 that it is provided individually, without aggregation. Case facts: two material joint ventures. Trap: Aggregating the summarised information of several material joint ventures. Rule to remember: One material joint venture, one table (IFRS 12, paras. 4, 21 and B12).","es":""},"common_error":{"fr":"","en":"Aggregating the summarised information of several material joint ventures.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The summarised information of each material joint venture is provided individually, without aggregation: the general aggregation principle in paragraph 4 does not permit this grouping.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Grouping is permitted, because paragraph 4 lets the entity choose the degree of aggregation that seems clearest to users.","es":""},"correct":false,"feedback":{"fr":"","en":"Paragraph 4 asks the entity to consider the level of detail and the degree of aggregation, but it does not permit aggregating the summarised information of each material joint venture (IFRS 12, paras. 4, 21 and B12). Readability does not justify this grouping. Rule to remember: No aggregation of the summarised information of material entities (IFRS 12, paras. 4, 21 and B12).","es":""}},{"id":"C","text":{"fr":"","en":"Grouping is permitted where the two joint ventures carry on neighbouring activities, the proximity of the sectors justifying a common presentation, as for the segments of a single activity.","es":""},"correct":false,"feedback":{"fr":"","en":"Proximity of sectors does not lift the requirement: the Interpretations Committee concluded that summarised information is provided individually for each material joint venture or associate, without aggregation (IFRS 12, paras. 4, 21 and B12). Rule to remember: Summarised information is provided entity by entity (IFRS 12, paras. 4, 21 and B12).","es":""}},{"id":"D","text":{"fr":"","en":"Grouping is permitted if the table total remains above the materiality threshold that management has set for the whole group.","es":""},"correct":false,"feedback":{"fr":"","en":"No group materiality threshold permits aggregation: the level of aggregation in paragraph 4 does not apply to the summarised information of each material joint venture (IFRS 12, paras. 4, 21 and B12). The case gives no threshold anyway. Rule to remember: A materiality threshold does not justify aggregating summarised information (IFRS 12, paras. 4, 21 and B12).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000005","standard_id":"IFRS12","concept_ids":["IFRS12.SCOPE.AGGREGATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_VG.IFRS12.000001","tested_point":"VG.IFRS12.000001","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000001","section_id":"rule-detail"},"references":["IFRS 12 §4"],"exercise":{"prompt":{"fr":"","en":"The general aggregation and disaggregation principle in paragraph 4 allows the summarised financial information of several material joint ventures to be aggregated into a single table.","es":""},"explanation":{"fr":"","en":"Paragraph 4 asks the entity to consider the level of detail, the emphasis on each requirement and the degree of aggregation or disaggregation; it does not, however, permit aggregating the summarised information on each material joint venture or associate (IFRS 12, paras. 4, 21 and B12). Trap: Aggregating the summarised information of several material joint ventures. Rule to remember: The aggregation principle does not cover the summarised information of material entities (IFRS 12, paras. 4, 21 and B12).","es":""},"common_error":{"fr":"","en":"Aggregating the summarised information of several material joint ventures.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000006","standard_id":"IFRS12","concept_ids":["IFRS12.JUDGEMENTS.SIGNIFICANT"],"dimension":"RULE_KNOWLEDGE","context":"V1_VG.IFRS12.000005","tested_point":"VG.IFRS12.000005","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000002","section_id":"rule-significant"},"references":["IFRS 12 §7"],"exercise":{"prompt":{"fr":"","en":"The entity provides information about the significant judgements and assumptions that allowed it to conclude that it controls another entity, that it has joint control or significant influence.","es":""},"explanation":{"fr":"","en":"The entity provides information about the significant judgements and assumptions, and changes to them, that allowed it to conclude that it controls another entity, that it has joint control or significant influence, and about the type of joint arrangement when it is structured through a separate vehicle (IFRS 12, para. 7). Trap: Omitting the judgement on the type of joint arrangement when a separate vehicle exists. Rule to remember: Conclusions on control, joint control and significant influence are explained (IFRS 12, para. 7).","es":""},"common_error":{"fr":"","en":"Omitting the judgement on the type of joint arrangement when a separate vehicle exists.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000007","standard_id":"IFRS12","concept_ids":["IFRS12.JUDGEMENTS.SIGNIFICANT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS12.000007","tested_point":"QST.IFRS12.000007","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000002","section_id":"rule-significant"},"references":["IFRS 12 §7"],"exercise":{"prompt":{"fr":"","en":"Which significant judgements and assumptions does IFRS 12 require to be explained in respect of interests in other entities? More than one answer is possible.","es":""},"explanation":{"fr":"","en":"IFRS 12 requires explanation of the significant judgements and assumptions that led to concluding on control of another entity, joint control or significant influence, and on the type of joint arrangement when it is structured through a separate vehicle (IFRS 12, para. 7). Trap: Omitting the judgement on the type of joint arrangement, or widening paragraph 7 to judgements with no link to interests in other entities. Rule to remember: Control, joint control, significant influence, type of joint arrangement (IFRS 12, para. 7).","es":""},"common_error":{"fr":"","en":"Omitting the judgement on the type of joint arrangement when a separate vehicle exists.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The choice of the reporting date, which determines the period covered by all of the financial statements.","es":""},"correct":false,"feedback":{"fr":"","en":"The reporting date is not a judgement about an interest in another entity: paragraph 7 concerns the conclusions on control, joint control and significant influence, and the type of joint arrangement (IFRS 12, para. 7). Rule to remember: The judgements in paragraph 7 concern interests in other entities (IFRS 12, para. 7).","es":""}},{"id":"B","text":{"fr":"","en":"The judgement that led to the conclusion that the entity controls another entity.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The estimate of the useful life of an item of property, plant and equipment that the entity holds alone, with no link to an interest in another entity.","es":""},"correct":false,"feedback":{"fr":"","en":"The useful life of an asset held alone is not a judgement about an interest in another entity: it falls outside paragraph 7 (IFRS 12, para. 7). Rule to remember: Paragraph 7 concerns conclusions on control, joint control and significant influence (IFRS 12, para. 7).","es":""}},{"id":"D","text":{"fr":"","en":"The judgement on the type of joint arrangement when it is structured through a separate vehicle.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The judgement that led to the conclusion of joint control or significant influence.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000008","standard_id":"IFRS12","concept_ids":["IFRS12.JUDGEMENTS.SIGNIFICANT"],"dimension":"APPLICATION","context":"V1_VG.IFRS12.000005","tested_point":"VG.IFRS12.000005","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000002","section_id":"rule-significant"},"references":["IFRS 12 §7"],"exercise":{"prompt":{"fr":"","en":"Orion SA has concluded that it has significant influence over Vega SA, and it also holds an interest in a joint arrangement run through a separate vehicle with another investor, for which it had to determine the type (case facts). Which significant judgements must it explain?","es":""},"explanation":{"fr":"","en":"The entity provides information about the significant judgements and assumptions that allowed it to conclude on significant influence, and on the type of joint arrangement when it is structured through a separate vehicle (IFRS 12, para. 7). Case facts: significant influence over Vega, a joint arrangement carried by a separate vehicle whose type had to be determined. Trap: Omitting the judgement on the type of joint arrangement. Rule to remember: Two judgements to explain: significant influence and type of joint arrangement (IFRS 12, para. 7).","es":""},"common_error":{"fr":"","en":"Omitting the judgement on the type of joint arrangement when a separate vehicle exists.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The judgement on significant influence over Vega, the type of joint arrangement not having to be explained since it results from the vehicle's legal form.","es":""},"correct":false,"feedback":{"fr":"","en":"The type of joint arrangement is precisely a judgement to be explained when a separate vehicle exists: legal form is only one element of the analysis (IFRS 12, para. 7). Omitting it is the common mistake. Rule to remember: The type of a joint arrangement structured through a separate vehicle is explained (IFRS 12, para. 7).","es":""}},{"id":"B","text":{"fr":"","en":"The judgement on the type of joint arrangement, significant influence not having to be explained since the interest in Vega is not a subsidiary.","es":""},"correct":false,"feedback":{"fr":"","en":"Conclusions on significant influence are among the judgements to be explained, whether or not the interest is a subsidiary (IFRS 12, para. 7). Paragraph 7 does not limit this information to subsidiaries. Rule to remember: Significant influence is explained like control (IFRS 12, para. 7).","es":""}},{"id":"C","text":{"fr":"","en":"The judgement that led it to conclude on significant influence over Vega, and the one on the type of joint arrangement structured through the separate vehicle.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Neither of them, the conclusions on joint control and significant influence belonging to the entity's separate financial statements alone.","es":""},"correct":false,"feedback":{"fr":"","en":"These judgements are to be explained in the entity's financial statements, and they are not limited to separate statements (IFRS 12, para. 7). Setting the information aside by invoking the scope of separate statements would omit it. Rule to remember: The judgements of paragraph 7 are provided (IFRS 12, para. 7).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000009","standard_id":"IFRS12","concept_ids":["IFRS12.JUDGEMENTS.CHANGE_OF_FACTS"],"dimension":"APPLICATION","context":"V1_QST.IFRS12.000009","tested_point":"QST.IFRS12.000009","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000002","section_id":"rule-change"},"references":["IFRS 12 §8"],"exercise":{"prompt":{"fr":"","en":"During the period, a change in facts and circumstances leads Pluton SA to conclude that it no longer controls Mars SA, whereas it controlled it at the start of the period (case facts). What does IFRS 12 ask it to include among the significant judgements explained?","es":""},"explanation":{"fr":"","en":"Significant judgements include those made when facts and circumstances change in such a way that the conclusion on control, joint control or significant influence changes during the period (IFRS 12, para. 8). Case facts: Pluton controlled Mars at the start and concludes during the period that it no longer controls it. Trap: Not disclosing a change of conclusion on control during the period. Rule to remember: The judgement behind a change of conclusion is explained (IFRS 12, para. 8).","es":""},"common_error":{"fr":"","en":"Not disclosing a change of conclusion on control during the period.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Nothing in particular, the initial judgement on control being the one to explain and the changes of the period falling under IFRS 10.","es":""},"correct":false,"feedback":{"fr":"","en":"IFRS 10 governs the conclusion on control, but IFRS 12 asks for the judgements to be explained, including those of the period when a conclusion changes (IFRS 12, para. 8). Limiting oneself to the initial judgement omits the change. Rule to remember: A change of conclusion during the period is explained (IFRS 12, para. 8).","es":""}},{"id":"B","text":{"fr":"","en":"The amount of the profit or loss for the period resulting from the loss of control, without explaining the judgement that changed the conclusion.","es":""},"correct":false,"feedback":{"fr":"","en":"The amount of the profit or loss is separate information: it does not replace explaining the judgement made when the facts changed (IFRS 12, para. 8). Rule to remember: The judgement behind the change is explained, beyond the figure (IFRS 12, para. 8).","es":""}},{"id":"C","text":{"fr":"","en":"The judgement exercised at the time of that change in facts, which changed its conclusion on control during the period.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The explanation of the change at the end of the following period, once the new conclusion is confirmed by a later assessment.","es":""},"correct":false,"feedback":{"fr":"","en":"Nothing defers the explanation to the following period: the judgement made during the period, when the facts changed, is the one the entity explains for that period (IFRS 12, para. 8). Rule to remember: The explanation follows the period of the change (IFRS 12, para. 8).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000010","standard_id":"IFRS12","concept_ids":["IFRS12.JUDGEMENTS.CHANGE_OF_FACTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS12.000010","tested_point":"QST.IFRS12.000010","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000002","section_id":"rule-change"},"references":["IFRS 12 §8"],"exercise":{"prompt":{"fr":"","en":"The significant judgements to be explained include those made when facts and circumstances change in such a way that the conclusion on control, joint control or significant influence changes during the period.","es":""},"explanation":{"fr":"","en":"Significant judgements include those made when facts and circumstances change in such a way that the conclusion on control, joint control or significant influence changes during the period (IFRS 12, para. 8). Trap: Not disclosing a change of conclusion during the period. Rule to remember: The change of conclusion in the period is explained (IFRS 12, para. 8).","es":""},"common_error":{"fr":"","en":"Not disclosing a change of conclusion on control during the period.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000011","standard_id":"IFRS12","concept_ids":["IFRS12.JUDGEMENTS.EXAMPLES"],"dimension":"ANALYSIS","context":"V1_VG.IFRS12.000004","tested_point":"VG.IFRS12.000004","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000002","section_id":"rule-examples"},"references":["IFRS 12 §9"],"exercise":{"prompt":{"fr":"","en":"A colleague writes: \"IFRS 12 cites 20% and 50%: these are thresholds; an entity holding 15% of the voting rights of another entity therefore has no significant influence judgement to explain.\" What is the error in this reasoning?","es":""},"explanation":{"fr":"","en":"IFRS 12 gives as examples of significant judgements concluding that there is no control despite holding more than half of the voting rights, or control with less than half, and no significant influence with 20% or more of the voting rights, or significant influence with less than 20% (IFRS 12, para. 9). These percentages illustrate judgements, they do not set a threshold. Trap: Presenting 20% or 50% as a threshold of the standard rather than an example of judgement. Rule to remember: The percentages in paragraph 9 are examples (IFRS 12, para. 9).","es":""},"common_error":{"fr":"","en":"Presenting 20% or 50% as a threshold of the standard rather than an example of judgement.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It presents 20% and 50% as thresholds of the standard, whereas they are examples of significant judgements: significant influence can be concluded with less than 20%, based on the facts.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"It forgets that the 20% threshold is set by IFRS 12 to presume significant influence, which requires explaining that judgement for any holding below that threshold, regardless of the other facts of the case.","es":""},"correct":false,"feedback":{"fr":"","en":"IFRS 12 sets no 20% threshold: it cites examples of significant judgements, including significant influence with less than 20% (IFRS 12, para. 9). Making the percentage a presumption of the standard turns the illustration into a rule. Rule to remember: A percentage cited is an example of judgement, not a threshold (IFRS 12, para. 9).","es":""}},{"id":"C","text":{"fr":"","en":"It confuses voting rights with dividend rights, the percentages cited by IFRS 12 concerning the latter in order to assess control.","es":""},"correct":false,"feedback":{"fr":"","en":"The examples in paragraph 9 concern voting rights, not dividend rights (IFRS 12, para. 9). The colleague's reasoning confuses an example with a threshold, not two kinds of rights. Rule to remember: The examples concern voting rights (IFRS 12, para. 9).","es":""}},{"id":"D","text":{"fr":"","en":"It ignores that explanation is required just for holdings above 50%, which give control and make significant influence irrelevant.","es":""},"correct":false,"feedback":{"fr":"","en":"Explanation is not reserved for holdings above 50%: concluding significant influence with less than 20% is cited as an example of a significant judgement (IFRS 12, para. 9). Rule to remember: Each significant conclusion is explained, whatever the percentage (IFRS 12, para. 9).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000012","standard_id":"IFRS12","concept_ids":["IFRS12.JUDGEMENTS.EXAMPLES"],"dimension":"APPLICATION","context":"V1_VG.IFRS12.000004","tested_point":"VG.IFRS12.000004","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000002","section_id":"rule-examples"},"references":["IFRS 12 §9"],"exercise":{"prompt":{"fr":"","en":"Sirène SA holds 45% of the voting rights of Mer SA; the other rights are spread among many small holders, none of whom holds more than 3% (case facts). Based on these facts, Sirène has concluded that it controls Mer. What does IFRS 12 ask of Sirène?","es":""},"explanation":{"fr":"","en":"Among the examples of significant judgements, IFRS 12 cites concluding on control with less than half of the voting rights (IFRS 12, para. 9). Case facts: 45% of the voting rights, the rest dispersed; Sirène concludes it has control based on those facts. Sirène explains the judgement that led it to that conclusion. The 45% is case data, not a threshold. Trap: Presenting a percentage as a threshold of the standard rather than an example of judgement. Rule to remember: Control without a majority of voting rights is explained (IFRS 12, para. 9).","es":""},"common_error":{"fr":"","en":"Presenting 20% or 50% as a threshold of the standard rather than an example of judgement.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"To refrain from explaining the judgement as long as its holding stays below half of the voting rights, the holding determining control.","es":""},"correct":false,"feedback":{"fr":"","en":"The holding does not by itself determine control, and the standard cites precisely control with less than half of the voting rights as a significant judgement to be explained (IFRS 12, para. 9). Staying silent would omit the information concerned. Rule to remember: Control with less than half of the voting rights is explained (IFRS 12, para. 9).","es":""}},{"id":"B","text":{"fr":"","en":"To present the 45% as the standard's threshold for control, applicable to all entities whose voting rights are dispersed.","es":""},"correct":false,"feedback":{"fr":"","en":"The 45% in the case is case data, not a threshold of the standard (IFRS 12, para. 9). Making it a threshold would apply to other entities a percentage that is only an illustration. Rule to remember: A percentage in a case is not a rule (IFRS 12, para. 9).","es":""}},{"id":"C","text":{"fr":"","en":"To provide Mer's summarised financial information, the judgement on control being exempted for an entity whose voting rights are dispersed.","es":""},"correct":false,"feedback":{"fr":"","en":"No exemption covers the judgement on control for entities with dispersed voting rights: that judgement is precisely the example cited (IFRS 12, para. 9). Rule to remember: No exemption from the judgement on control (IFRS 12, para. 9).","es":""}},{"id":"D","text":{"fr":"","en":"To explain the significant judgement that led it to conclude on control despite holding less than half of the voting rights.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000014","standard_id":"IFRS12","concept_ids":["IFRS12.JUDGEMENTS.INVESTMENT_ENTITY_STATUS"],"dimension":"APPLICATION","context":"V1_QST.IFRS12.000014","tested_point":"QST.IFRS12.000014","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000009","section_id":"rule-status"},"references":["IFRS 12 §9A","IFRS 12 §9B"],"exercise":{"prompt":{"fr":"","en":"During the period, Atlas, which was an investment entity, ceased to meet the conditions for that status (case facts). What disclosure does IFRS 12 require in this respect?","es":""},"explanation":{"fr":"","en":"An investment entity provides information about the significant judgements and assumptions that allowed it to conclude that it is an investment entity (IFRS 12, para. 9A); when it becomes or ceases to be an investment entity, it discloses that fact and explains the reasons (IFRS 12, para. 9B). Case facts: Atlas ceases to be an investment entity during the period. Trap: Not explaining the change in investment entity status. Rule to remember: Change of status: disclose it and give the reasons (IFRS 12, para. 9B).","es":""},"common_error":{"fr":"","en":"Not explaining why the entity becomes or ceases to be an investment entity.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No particular disclosure, the loss of status falling under IFRS 10 and calling for no explanation in the financial statements of the period.","es":""},"correct":false,"feedback":{"fr":"","en":"IFRS 10 governs the conditions for the status, but IFRS 12 requires disclosing the change of status and explaining the reasons (IFRS 12, para. 9B). Silence would omit that information. Rule to remember: A change of investment entity status is explained (IFRS 12, para. 9B).","es":""}},{"id":"B","text":{"fr":"","en":"It discloses this change of status and explains the reasons for it, in addition to the information on the significant judgements concerning its status.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"It discloses the change without explaining the reasons, these belonging to management's discussions with its auditors.","es":""},"correct":false,"feedback":{"fr":"","en":"IFRS 12 asks for the reasons to be explained, not just the change to be disclosed (IFRS 12, para. 9B). Leaving the reasons to management and auditors does not replace disclosure in the financial statements. Rule to remember: The change and its reasons are provided together (IFRS 12, para. 9B).","es":""}},{"id":"D","text":{"fr":"","en":"It provides the information specific to investment entities for the periods before the change, the current period being exempted.","es":""},"correct":false,"feedback":{"fr":"","en":"Nothing restricts the information to earlier periods: the entity discloses the change and explains the reasons for the period in which it occurs (IFRS 12, para. 9B). Rule to remember: The information concerns the period of the change (IFRS 12, para. 9B).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000015","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.GROUP_COMPOSITION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS12.000015","tested_point":"QST.IFRS12.000015","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000003","section_id":"rule-composition"},"references":["IFRS 12 §10"],"exercise":{"prompt":{"fr":"","en":"IFRS 12 requires information enabling users of the consolidated financial statements to understand the composition of the group and the share that non-controlling interests have in the group's activities and cash flows.","es":""},"explanation":{"fr":"","en":"The entity provides information enabling users of its consolidated financial statements to understand the composition of the group and the share that non-controlling interests have in the group's activities and cash flows, as well as the nature and effects of restrictions, the risks of consolidated structured entities and changes in ownership percentages (IFRS 12, para. 10). Trap: Limiting the information to wholly-owned subsidiaries. Rule to remember: The information covers the group and non-controlling interests (IFRS 12, para. 10).","es":""},"common_error":{"fr":"","en":"Limiting the information to wholly-owned subsidiaries.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000016","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.GROUP_COMPOSITION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS12.000016","tested_point":"QST.IFRS12.000016","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000003","section_id":"rule-composition"},"references":["IFRS 12 §10"],"exercise":{"prompt":{"fr":"","en":"Which of the following information meets IFRS 12's objective on the composition of the group?","es":""},"explanation":{"fr":"","en":"The objective of paragraph 10 is to enable users of the consolidated financial statements to understand the composition of the group and the share that non-controlling interests have in the group's activities and cash flows (IFRS 12, para. 10). Only the information on the share of non-controlling interests meets that objective. Trap: Limiting the information to wholly-owned subsidiaries. Rule to remember: Composition of the group and share of non-controlling interests (IFRS 12, para. 10).","es":""},"common_error":{"fr":"","en":"Limiting the information to wholly-owned subsidiaries.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The calculation of each subsidiary's goodwill at the acquisition date, together with the measurement method retained for the whole group.","es":""},"correct":false,"feedback":{"fr":"","en":"The goodwill calculation belongs to business combination accounting, not to the objective of paragraph 10 on the composition of the group and the share of non-controlling interests (IFRS 12, para. 10). Rule to remember: Goodwill is not the group-composition information (IFRS 12, para. 10).","es":""}},{"id":"B","text":{"fr":"","en":"The criteria applied to establish that the parent controls each of its subsidiaries, as defined by IFRS 10 for the group.","es":""},"correct":false,"feedback":{"fr":"","en":"The criteria for control fall under IFRS 10; IFRS 12 asks for information on the composition of the group and non-controlling interests (IFRS 12, para. 10). Rule to remember: Control is determined by IFRS 10, composition is explained by IFRS 12 (IFRS 12, para. 10).","es":""}},{"id":"C","text":{"fr":"","en":"The amount of dividends the parent received from its wholly-owned subsidiaries during the period, before eliminations.","es":""},"correct":false,"feedback":{"fr":"","en":"Dividends received from wholly-owned subsidiaries say nothing about the share of non-controlling interests; the objective in paragraph 10 concerns that share (IFRS 12, para. 10). Rule to remember: The objective concerns the share of non-controlling interests (IFRS 12, para. 10).","es":""}},{"id":"D","text":{"fr":"","en":"The share that non-controlling interests have in the group's activities and cash flows.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000017","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.GROUP_COMPOSITION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS12.000017","tested_point":"QST.IFRS12.000017","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000003","section_id":"rule-composition"},"references":["IFRS 12 §10"],"exercise":{"prompt":{"fr":"","en":"Which statements about the objective of the information on subsidiaries are correct? More than one answer is possible.","es":""},"explanation":{"fr":"","en":"The information in paragraph 10 makes it possible to understand the composition of the group and the share that non-controlling interests have in its activities and cash flows, as well as the nature and effects of restrictions, the risks of consolidated structured entities and changes in ownership percentages (IFRS 12, para. 10). Trap: Limiting the information to wholly-owned subsidiaries. Rule to remember: Group composition, non-controlling interests, restrictions, risks, changes (IFRS 12, para. 10).","es":""},"common_error":{"fr":"","en":"Limiting the information to wholly-owned subsidiaries.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The information excludes consolidated structured entities, which fall under separate information on unconsolidated entities.","es":""},"correct":false,"feedback":{"fr":"","en":"The risks of consolidated structured entities are part of the information covered by paragraph 10; they are not excluded in favour of unconsolidated entities (IFRS 12, para. 10). Rule to remember: Consolidated structured entities fall within paragraph 10 (IFRS 12, para. 10).","es":""}},{"id":"B","text":{"fr":"","en":"The information covers the nature and effects of restrictions and of changes in ownership percentages in subsidiaries.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The information concerns the share of non-controlling interests in the group's activities and cash flows.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The information makes it possible to understand the composition of the group.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The information is limited to subsidiaries that the parent holds at 100%, non-controlling interests being excluded from it.","es":""},"correct":false,"feedback":{"fr":"","en":"Limiting the information to subsidiaries held at 100% would exclude precisely the share of non-controlling interests that paragraph 10 asks to be understood (IFRS 12, para. 10). Rule to remember: Non-controlling interests are at the heart of the information (IFRS 12, para. 10).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000018","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.NCI_MATERIAL"],"dimension":"CALCULATION","context":"V1_VG.IFRS12.000003","tested_point":"VG.IFRS12.000003","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000003","section_id":"rule-nci"},"references":["IFRS 12 §12","IFRS 12"],"exercise":{"prompt":{"fr":"","en":"Lune SA controls Saturne SA, a subsidiary whose non-controlling interests, held at {nci_percent}, are material (case data). Saturne's profit: {subsidiary_profit}. Accumulated non-controlling interests at the start: {opening_nci}. Their share of other comprehensive income: {nci_share_of_oci}; dividends paid to them: {dividends_to_nci}. Case convention: no intragroup adjustment. Calculate the profit allocated to non-controlling interests and their closing accumulated balance, two amounts that a subsidiary with material non-controlling interests brings out in the information required by paragraph 12.","es":""},"explanation":{"fr":"","en":"Method: 820,000 × 30% = 246,000; closing balance 1,950,000 + 246,000 + 18,000 − 60,000 = 2,154,000. For a subsidiary with material non-controlling interests, the entity discloses, among other things, the profit allocated to them and the accumulated balance of those interests (IFRS 12, para. 12). Trap: Assessing a subsidiary's materiality from the viewpoint of its own separate statements alone, or forgetting the dividends paid in the closing balance. Rule to remember: Closing balance = opening + share of profit and of other comprehensive income − dividends (IFRS 12, para. 12).","es":""},"common_error":{"fr":"","en":"Forgetting to deduct the dividends paid to non-controlling interests in their closing accumulated balance.","es":""},"format":"CALCULATION","placeholders":[{"id":"subsidiary_profit","value":"820000","unit":"EUR"},{"id":"nci_percent","value":"30","unit":"PERCENT"},{"id":"opening_nci","value":"1950000","unit":"EUR"},{"id":"nci_share_of_oci","value":"18000","unit":"EUR"},{"id":"dividends_to_nci","value":"60000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Profit of the subsidiary","es":""},"value":"820000","unit":"EUR"},{"label":{"fr":"","en":"Share of non-controlling interests","es":""},"value":"30","unit":"PERCENT"},{"label":{"fr":"","en":"Opening accumulated non-controlling interests","es":""},"value":"1950000","unit":"EUR"},{"label":{"fr":"","en":"Non-controlling interests' share of other comprehensive income","es":""},"value":"18000","unit":"EUR"},{"label":{"fr":"","en":"Dividends paid to non-controlling interests","es":""},"value":"60000","unit":"EUR"}],"steps":[{"id":"PROFIT_ALLOCATED_TO_NCI","label":{"fr":"","en":"Profit allocated to non-controlling interests","es":""},"answer":246000,"tolerance":0,"unit":"EUR"},{"id":"CLOSING_NCI","label":{"fr":"","en":"Closing accumulated non-controlling interests","es":""},"answer":2154000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"PROFIT_ALLOCATED_TO_NCI","meaning":{"fr":"","en":"Profit allocated to non-controlling interests","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Profit of the subsidiary","es":""},"value":820000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Share of non-controlling interests","es":""},"value":30,"unit":"PERCENT"}],"result":246000,"unit":"EUR"},{"step":"CLOSING_NCI","meaning":{"fr":"","en":"Closing accumulated non-controlling interests","es":""},"expression":"a + b + c - d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Opening accumulated non-controlling interests","es":""},"value":1950000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Profit allocated to non-controlling interests","es":""},"value":246000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Non-controlling interests' share of other comprehensive income","es":""},"value":18000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Dividends paid to non-controlling interests","es":""},"value":60000,"unit":"EUR"}],"result":2154000,"unit":"EUR"}],"rationale":{"fr":"","en":"Closing balance = opening + share of profit and of other comprehensive income − dividends (IFRS 12, para. 12).","es":""},"references":["REF.IFRS12.12"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000020","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.NCI_MATERIAL"],"dimension":"APPLICATION","context":"V1_QST.IFRS12.000020","tested_point":"QST.IFRS12.000020","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000003","section_id":"rule-nci"},"references":["IFRS 12 §12","IFRS 12"],"exercise":{"prompt":{"fr":"","en":"Alpha SA is a subsidiary of Lotus Group. Seen from its own separate financial statements, Alpha's non-controlling interests appear significant; set against Lotus's consolidated financial statements, they are small (case facts). From which viewpoint is materiality assessed, in light of the Interpretations Committee's 2015 decision?","es":""},"explanation":{"fr":"","en":"For a subsidiary with material non-controlling interests, the entity provides the information referred to in paragraph 12; the Interpretations Committee noted in 2015 that materiality is assessed from the viewpoint of the entity's consolidated financial statements, and that the choice to present information by subsidiary or by sub-group is a judgement made in each case according to the objective in paragraph 10 (IFRS 12, para. 12). Case facts: interests significant seen from Alpha's accounts, small seen from the consolidated statements. Trap: Assessing a subsidiary's materiality from the viewpoint of its separate financial statements alone. Rule to remember: Materiality: consolidated viewpoint (IFRS 12, para. 12).","es":""},"common_error":{"fr":"","en":"Assessing a subsidiary's materiality from the viewpoint of its separate financial statements alone.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"From the viewpoint of Alpha's separate financial statements, since these are what show the significance of the non-controlling interests, as it appears from its own accounts.","es":""},"correct":false,"feedback":{"fr":"","en":"Alpha's separate statements are not the viewpoint retained: materiality is assessed from the entity's consolidated financial statements (IFRS 12, para. 12). Alpha's interests, small in the consolidated statements, are not judged by their weight in Alpha's accounts. Rule to remember: Materiality is judged from the consolidated viewpoint (IFRS 12, para. 12).","es":""}},{"id":"B","text":{"fr":"","en":"From the viewpoint of the entity's consolidated financial statements; the choice to present information by subsidiary or by sub-group is a judgement made according to the objective in paragraph 10.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"From the viewpoint of Alpha's main minority shareholder, whose assessment of significance prevails over that of group management.","es":""},"correct":false,"feedback":{"fr":"","en":"A minority shareholder's assessment does not replace the entity's: materiality is assessed from the viewpoint of its consolidated financial statements (IFRS 12, para. 12). Rule to remember: The viewpoint is that of the consolidated statements, not a third party's (IFRS 12, para. 12).","es":""}},{"id":"D","text":{"fr":"","en":"At group management's choice, independently of the consolidated statements, the standard leaving the viewpoint free for assessing materiality.","es":""},"correct":false,"feedback":{"fr":"","en":"The viewpoint is specified: the entity's consolidated financial statements (IFRS 12, para. 12). Leaving the choice to management would strip the Committee's decision of its scope. Rule to remember: Materiality is not a free choice of viewpoint (IFRS 12, para. 12).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000021","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.SUMMARISED_INFORMATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_VG.IFRS12.000007","tested_point":"VG.IFRS12.000007","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000004","section_id":"rule-content"},"references":["IFRS 12 §B10","IFRS 12 §B11"],"exercise":{"prompt":{"fr":"","en":"Summarised information about a subsidiary with material non-controlling interests is presented after intragroup eliminations.","es":""},"explanation":{"fr":"","en":"For each subsidiary with material non-controlling interests, the entity discloses summarised information about assets, liabilities, profit or loss and cash flows (IFRS 12, para. B10), presented before intragroup eliminations (IFRS 12, para. B11). Trap: Presenting summarised information after intragroup eliminations. Rule to remember: Summarised information: before intragroup eliminations (IFRS 12, para. B11).","es":""},"common_error":{"fr":"","en":"Presenting summarised information after intragroup eliminations.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000022","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.SUMMARISED_INFORMATION"],"dimension":"APPLICATION","context":"V1_VG.IFRS12.000007","tested_point":"VG.IFRS12.000007","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000004","section_id":"rule-content"},"references":["IFRS 12 §B10","IFRS 12 §B11"],"exercise":{"prompt":{"fr":"","en":"Omega SA is a subsidiary with material non-controlling interests. Its revenue is 2,000,000 in its own accounts, of which 500,000 is sales to its parent, eliminated in the consolidated accounts (case facts). What amount of revenue appears in the subsidiary's summarised information?","es":""},"explanation":{"fr":"","en":"For each subsidiary with material non-controlling interests, the entity discloses summarised information about assets, liabilities, profit or loss and cash flows (IFRS 12, para. B10), presented before intragroup eliminations (IFRS 12, para. B11). Case facts: revenue of 2,000,000 of which 500,000 sales to the parent. The amount presented is therefore 2,000,000. Trap: Presenting summarised information after intragroup eliminations. Rule to remember: Before intragroup eliminations, subsidiary's revenue included (IFRS 12, para. B11).","es":""},"common_error":{"fr":"","en":"Presenting summarised information after intragroup eliminations.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"1,500,000, after eliminating the sales to the parent, as in the consolidated accounts of the group Omega belongs to.","es":""},"correct":false,"feedback":{"fr":"","en":"Eliminating the sales to the parent would mean presenting the information after intragroup eliminations, which B11 does not provide for (IFRS 12, para. B11). The consolidated amount is not the summarised-information amount. Rule to remember: No elimination in the subsidiary's summarised information (IFRS 12, para. B11).","es":""}},{"id":"B","text":{"fr":"","en":"2,500,000, by adding the intragroup sales to the revenue from sales to third parties that the subsidiary has already recognised.","es":""},"correct":false,"feedback":{"fr":"","en":"The 2,000,000 already includes the sales to the parent: adding them again would count the same revenue twice (IFRS 12, para. B11). No rule asks for such a cumulation. Rule to remember: Summarised information takes up the subsidiary's accounts, with no double counting (IFRS 12, para. B11).","es":""}},{"id":"C","text":{"fr":"","en":"2,000,000, because summarised information is presented before intragroup eliminations, sales to the parent included.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"500,000, the amount of the intragroup sales, which IFRS 12 asks to be presented separately from revenue from third parties.","es":""},"correct":false,"feedback":{"fr":"","en":"IFRS 12 does not ask for revenue to be reduced to intragroup sales alone: summarised information presents the subsidiary's revenue, before eliminations (IFRS 12, para. B11). Rule to remember: Summarised revenue is the subsidiary's, before eliminations (IFRS 12, para. B11).","es":""}}]},"scope":"CORE_STUDENT","reserve":true},{"key":"QST.IFRS12.000023","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.RESTRICTIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS12.000023","tested_point":"QST.IFRS12.000023","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000004","section_id":"rule-restrictions"},"references":["IFRS 12 §13"],"exercise":{"prompt":{"fr":"","en":"Which items are to be reported as significant restrictions on the group's ability to access assets and settle liabilities? More than one answer is possible.","es":""},"explanation":{"fr":"","en":"The entity provides information about the nature and extent of significant restrictions on its ability to access assets and settle liabilities of the group: legal, contractual or regulatory restrictions, and protective rights of non-controlling interests; the standard does not require an exhaustive list of those rights (IFRS 12, para. 13). Trap: Omitting protective rights of non-controlling interests that limit access to assets. Rule to remember: Significant restrictions: legal, contractual, regulatory, protective rights (IFRS 12, para. 13).","es":""},"common_error":{"fr":"","en":"Omitting protective rights of non-controlling interests that limit access to assets.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Management's mere intention to keep cash in a subsidiary to fund a future project.","es":""},"correct":false,"feedback":{"fr":"","en":"Management's intention is neither a legal, contractual or regulatory restriction nor a protective right: it does not legally limit access to the assets (IFRS 12, para. 13). Rule to remember: A restriction is legal, contractual or regulatory, not an intention (IFRS 12, para. 13).","es":""}},{"id":"B","text":{"fr":"","en":"Protective rights of non-controlling interests that limit the group's access to a subsidiary's assets.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The exhaustive list of all the protective rights of each non-controlling interest, which the standard requires.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard does not require an exhaustive list of protective rights: significant restrictions are what is to be reported (IFRS 12, para. 13). Requiring exhaustiveness would add an obligation absent from the text. Rule to remember: Significant restrictions are reported, with no exhaustive list (IFRS 12, para. 13).","es":""}},{"id":"D","text":{"fr":"","en":"A regulatory capital requirement that limits the funds a subsidiary can transfer to the parent.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"A clause in a financing agreement that forbids a subsidiary from paying dividends until a ratio is met.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000025","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.CONSOLIDATED_SE_RISKS"],"dimension":"APPLICATION","context":"V1_QST.IFRS12.000025","tested_point":"QST.IFRS12.000025","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000008","section_id":"rule-consolidated"},"references":["IFRS 12 §15","IFRS 12 §14"],"exercise":{"prompt":{"fr":"","en":"Delta Group consolidates Titri, a structured entity, and has provided it with financial support without being contractually required to (case facts). What must it provide under IFRS 12?","es":""},"explanation":{"fr":"","en":"When the parent or one of its subsidiaries has, without having a contractual obligation to do so, provided financial or other support to a consolidated structured entity, the entity discloses the type and amount of that support, including assistance in obtaining financing, and the reasons for providing it (IFRS 12, para. 15). Contractual arrangements that could require support are subject to a separate disclosure (IFRS 12, para. 14). Case facts: Titri is consolidated and the group has provided support without a contractual obligation. Trap: Believing that only contractual support is disclosed. Rule to remember: Voluntary support to a consolidated structured entity is disclosed: type, amount, reasons (IFRS 12, para. 15).","es":""},"common_error":{"fr":"","en":"Not disclosing support provided without a contractual obligation to a consolidated structured entity.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The type and amount of the support provided, including any assistance in obtaining financing, and the reasons for providing it.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Nothing in particular, Titri being consolidated and its transactions with the group eliminated in the consolidated accounts.","es":""},"correct":false,"feedback":{"fr":"","en":"Consolidation does not remove the disclosures on risks associated with consolidated structured entities: intragroup eliminations do not replace disclosure of support provided without an obligation (IFRS 12, para. 15). Rule to remember: Voluntary support to a consolidated structured entity is disclosed: type, amount, reasons (IFRS 12, para. 15).","es":""}},{"id":"C","text":{"fr":"","en":"Information limited to contractual support arrangements, support provided without an obligation remaining outside the scope of the disclosures.","es":""},"correct":false,"feedback":{"fr":"","en":"Contractual support arrangements have their own disclosure (IFRS 12, para. 14), but support provided without a contractual obligation is also disclosed (IFRS 12, para. 15). Rule to remember: Voluntary support to a consolidated structured entity is disclosed: type, amount, reasons (IFRS 12, para. 15).","es":""}},{"id":"D","text":{"fr":"","en":"The information provided for unconsolidated structured entities, a group's voluntary support falling into that category of unconsolidated entities.","es":""},"correct":false,"feedback":{"fr":"","en":"Titri is consolidated: the disclosures on unconsolidated structured entities do not cover it; the disclosure of support provided to a consolidated structured entity applies (IFRS 12, para. 15). Rule to remember: Voluntary support to a consolidated structured entity is disclosed: type, amount, reasons (IFRS 12, para. 15).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000026","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.OWNERSHIP_CHANGES"],"dimension":"CALCULATION","context":"V1_VG.IFRS12.000002","tested_point":"VG.IFRS12.000002","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000005","section_id":"rule-ownership"},"references":["IFRS 12 §18"],"exercise":{"prompt":{"fr":"","en":"Perle SA, which controls Quartz SA, acquires part of Quartz's non-controlling interests without losing control. The carrying amount of the interests acquired is {nci_carrying_amount_transferred}; Perle pays {consideration} (case data). Case convention: no goodwill or other comprehensive income to reallocate (a choice made for the case, not imposed by the standard). Calculate the effect on equity attributable to owners of the parent, which IFRS 12 asks to be presented in a schedule (a negative amount indicates a decrease).","es":""},"explanation":{"fr":"","en":"Method: 900,000 − 1,100,000 = −200,000. Without loss of control, the difference between the carrying amount of the interests acquired and the consideration paid is not profit or loss: it affects equity attributable to owners, and the entity presents its effects in a schedule (IFRS 12, para. 18). Here, a decrease of 200,000. Trap: Recognising the difference between the price paid and the carrying amount of the outside holders in profit or loss. Rule to remember: Change in ownership without loss of control: effect in equity (IFRS 12, para. 18).","es":""},"common_error":{"fr":"","en":"Recognising the difference between the price paid and the carrying amount of outside holders in profit or loss.","es":""},"format":"CALCULATION","placeholders":[{"id":"nci_carrying_amount_transferred","value":"900000","unit":"EUR"},{"id":"consideration","value":"1100000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Carrying amount of the non-controlling interests acquired","es":""},"value":"900000","unit":"EUR"},{"label":{"fr":"","en":"Consideration paid","es":""},"value":"1100000","unit":"EUR"}],"steps":[{"id":"EFFECT_ON_OWNERS_EQUITY","label":{"fr":"","en":"Effect on equity attributable to owners of the parent","es":""},"answer":-200000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"EFFECT_ON_OWNERS_EQUITY","meaning":{"fr":"","en":"Effect on equity attributable to owners of the parent","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Carrying amount of the non-controlling interests acquired","es":""},"value":900000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Consideration paid","es":""},"value":1100000,"unit":"EUR"}],"result":-200000,"unit":"EUR"}],"rationale":{"fr":"","en":"Change in ownership without loss of control: effect in equity (IFRS 12, para. 18).","es":""},"references":["REF.IFRS12.18"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000028","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.LOSS_OF_CONTROL"],"dimension":"CALCULATION","context":"V1_QST.IFRS12.000028","tested_point":"QST.IFRS12.000028","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000005","section_id":"rule-loss"},"references":["IFRS 12 §19"],"exercise":{"prompt":{"fr":"","en":"Titan SA loses control of Pollux SA by selling part of its shares; it keeps an investment whose fair value at the date of loss of control is {fair_value_retained} and whose carrying amount is {carrying_amount_retained} (case data). Calculate the part of the gain on loss of control attributable to remeasuring the retained investment to fair value, a part that IFRS 12 asks to be disclosed.","es":""},"explanation":{"fr":"","en":"Method: 1,560,000 − 1,190,000 = 370,000. On loss of control of a subsidiary, the entity discloses the gain or loss, including the portion attributable to remeasuring the retained investment to fair value, and the line item in profit or loss that includes it (IFRS 12, para. 19). Trap: Omitting the portion of the gain attributable to remeasuring the retained investment. Rule to remember: Remeasurement portion = fair value − carrying amount of the retained investment (IFRS 12, para. 19).","es":""},"common_error":{"fr":"","en":"Omitting the portion of the gain attributable to remeasuring the retained investment.","es":""},"format":"CALCULATION","placeholders":[{"id":"fair_value_retained","value":"1560000","unit":"EUR"},{"id":"carrying_amount_retained","value":"1190000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Fair value of the retained investment","es":""},"value":"1560000","unit":"EUR"},{"label":{"fr":"","en":"Carrying amount of the retained investment","es":""},"value":"1190000","unit":"EUR"}],"steps":[{"id":"REMEASUREMENT_PART_OF_GAIN","label":{"fr":"","en":"Part of the gain attributable to remeasuring the retained investment","es":""},"answer":370000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"REMEASUREMENT_PART_OF_GAIN","meaning":{"fr":"","en":"Part of the gain attributable to remeasuring the retained investment","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Fair value of the retained investment","es":""},"value":1560000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Carrying amount of the retained investment","es":""},"value":1190000,"unit":"EUR"}],"result":370000,"unit":"EUR"}],"rationale":{"fr":"","en":"Remeasurement portion = fair value − carrying amount of the retained investment (IFRS 12, para. 19).","es":""},"references":["REF.IFRS12.19"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000029","standard_id":"IFRS12","concept_ids":["IFRS12.SUBSIDIARIES.LOSS_OF_CONTROL"],"dimension":"ANALYSIS","context":"V1_QST.IFRS12.000029","tested_point":"QST.IFRS12.000029","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000005","section_id":"rule-loss"},"references":["IFRS 12 §19"],"exercise":{"prompt":{"fr":"","en":"A colleague writes: \"On loss of control of a subsidiary, IFRS 12 asks only for the total gain or loss on the disposal to be disclosed; the portion arising from remeasuring the retained investment and the line item in profit or loss that includes it need not be specified.\" What is the error?","es":""},"explanation":{"fr":"","en":"On loss of control of a subsidiary during the period, the entity discloses the gain or loss, including the portion attributable to remeasuring the retained investment to fair value, and the line item in profit or loss that includes it (IFRS 12, para. 19). The colleague omits the remeasurement portion and the line item. Trap: Omitting the portion of the gain attributable to remeasuring the retained investment. Rule to remember: Total gain, remeasurement portion and line item are disclosed (IFRS 12, para. 19).","es":""},"common_error":{"fr":"","en":"Omitting the portion of the gain attributable to remeasuring the retained investment.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It omits that the entity also discloses the portion of the gain or loss attributable to remeasuring the retained investment to fair value, and the line item in profit or loss that includes it.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"It confuses the disclosure with the calculation of the gain, which IFRS 12 describes in detail in place of IFRS 10, of which it is the source standard.","es":""},"correct":false,"feedback":{"fr":"","en":"IFRS 12 does not describe the calculation of the gain: that falls under IFRS 10, IFRS 12 governing the disclosures (IFRS 12, para. 19). The colleague's error lies in the information omitted, not in a confusion of standards. Rule to remember: IFRS 12 discloses, IFRS 10 calculates (IFRS 12, para. 19).","es":""}},{"id":"C","text":{"fr":"","en":"It forgets that IFRS 12 asks for the gain or loss of the previous period, the current period being covered by IFRS 10.","es":""},"correct":false,"feedback":{"fr":"","en":"The disclosure concerns the loss of control that occurred during the period, not the previous period (IFRS 12, para. 19). Deferring the disclosure to another period would invent a rule. Rule to remember: The loss of control of the period is the one disclosed (IFRS 12, para. 19).","es":""}},{"id":"D","text":{"fr":"","en":"It overlooks that the remeasurement of the retained investment is presented in equity, so that there is no line item in profit or loss to specify.","es":""},"correct":false,"feedback":{"fr":"","en":"The portion of the gain arising from remeasurement is indeed part of the gain or loss, presented in profit or loss with the line item that includes it (IFRS 12, para. 19). It is not an equity transaction. Rule to remember: Remeasurement is part of the gain or loss on loss of control (IFRS 12, para. 19).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000030","standard_id":"IFRS12","concept_ids":["IFRS12.JAASSOCIATES.MATERIAL_ENTITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS12.000030","tested_point":"QST.IFRS12.000030","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000006","section_id":"rule-material"},"references":["IFRS 12 §21"],"exercise":{"prompt":{"fr":"","en":"For which interests does IFRS 12 require the name, nature of the relationship, principal place of business, ownership held, measurement method and summarised financial information?","es":""},"explanation":{"fr":"","en":"For each material joint arrangement and associate, the entity discloses the name, the nature of the relationship, the principal place of business, the ownership held and, if different, the proportion of voting rights; for each material joint venture and associate, the measurement method, summarised financial information and, where applicable, the quoted fair value (IFRS 12, para. 21). Trap: Providing the same information for every associate, material or not. Rule to remember: Detailed information for material interests (IFRS 12, para. 21).","es":""},"common_error":{"fr":"","en":"Providing the same information for every associate, material or not.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"For all joint arrangements and all associates, whatever their relative importance to the entity.","es":""},"correct":false,"feedback":{"fr":"","en":"Paragraph 21 covers each material joint arrangement and associate, not all without distinction: extending the detailed information to immaterial interests ignores the materiality criterion (IFRS 12, para. 21). Rule to remember: The detailed information follows materiality (IFRS 12, para. 21).","es":""}},{"id":"B","text":{"fr":"","en":"For the entity in which the interest is highest, the others being left out of the detailed information.","es":""},"correct":false,"feedback":{"fr":"","en":"The criterion is the materiality of each interest, not the rank of the holding (IFRS 12, para. 21). Retaining a single entity, the most held, would leave out other material joint arrangements or associates. Rule to remember: Each material interest is covered, not the highest (IFRS 12, para. 21).","es":""}},{"id":"C","text":{"fr":"","en":"For each material joint arrangement and associate.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"For material subsidiaries, and for joint arrangements and associates falling under IFRS 11 and IAS 28.","es":""},"correct":false,"feedback":{"fr":"","en":"Subsidiaries have their own information (paragraphs 10 to 19); paragraph 21 covers material joint arrangements and associates (IFRS 12, para. 21). Referring to IFRS 11 and IAS 28 confuses accounting with disclosure. Rule to remember: Material joint arrangements and associates: paragraph 21 (IFRS 12, para. 21).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000031","standard_id":"IFRS12","concept_ids":["IFRS12.JAASSOCIATES.MATERIAL_ENTITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS12.000031","tested_point":"QST.IFRS12.000031","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000006","section_id":"rule-material"},"references":["IFRS 12 §21"],"exercise":{"prompt":{"fr":"","en":"What information does IFRS 12 require for a material joint venture or associate? More than one answer is possible.","es":""},"explanation":{"fr":"","en":"For each material joint venture and associate, the entity discloses the name, nature of the relationship, principal place of business, ownership held, measurement method (equity method or fair value), summarised financial information and, where applicable, quoted fair value (IFRS 12, para. 21). Trap: Providing the same information for every associate, material or not, or adding items the standard does not cite. Rule to remember: Identification, measurement method, summarised information (IFRS 12, para. 21).","es":""},"common_error":{"fr":"","en":"Providing the same information for every associate, material or not.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The measurement method for the interest, that is, the equity method or fair value.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The detailed remuneration of the joint venture's or associate's executives for the period.","es":""},"correct":false,"feedback":{"fr":"","en":"The remuneration of the investee's executives is not among the information in paragraph 21: it lists identification, measurement method and summarised financial information (IFRS 12, para. 21). Rule to remember: Paragraph 21 lists specific information (IFRS 12, para. 21).","es":""}},{"id":"C","text":{"fr":"","en":"Summarised financial information about the entity, and its quoted fair value where applicable.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The entity's forecast budget for the next three years, prepared by its management.","es":""},"correct":false,"feedback":{"fr":"","en":"A forecast budget is not information under paragraph 21: the entity provides the entity's identification, the measurement method and summarised financial information (IFRS 12, para. 21). Rule to remember: No forecasts in the paragraph 21 information (IFRS 12, para. 21).","es":""}},{"id":"E","text":{"fr":"","en":"The name, the nature of the relationship, the principal place of business and the ownership held.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000033","standard_id":"IFRS12","concept_ids":["IFRS12.JAASSOCIATES.SUMMARISED_INFORMATION"],"dimension":"ANALYSIS","context":"V1_VG.IFRS12.000008","tested_point":"VG.IFRS12.000008","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000006","section_id":"rule-summarised"},"references":["IFRS 12 §B12","IFRS 12"],"exercise":{"prompt":{"fr":"","en":"A colleague writes: \"The summarised information of our two material associates can be grouped in a single table, because local regulation makes it difficult to publish one of them separately.\" What is the error in this reasoning?","es":""},"explanation":{"fr":"","en":"For each material joint venture and associate, the entity discloses dividends received and summarised financial information (IFRS 12, para. B12); the Interpretations Committee concluded in 2015 that this information is provided individually, without aggregation, and that the standard provides no exemption for a local constraint. Trap: Delaying or omitting an associate's summarised information because of a local constraint. Rule to remember: Individual summarised information, no local exemption (IFRS 12, para. B12).","es":""},"common_error":{"fr":"","en":"Delaying or omitting an associate's summarised information because of a local constraint.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It forgets that grouping is permitted for listed associates, but that the local constraint must be documented in the notes.","es":""},"correct":false,"feedback":{"fr":"","en":"Grouping is permitted for no material associate, listed or not: summarised information is provided individually (IFRS 12, para. B12). Providing documentation of the local constraint would add a condition that does not lift the requirement. Rule to remember: No grouping, even documented (IFRS 12, para. B12).","es":""}},{"id":"B","text":{"fr":"","en":"It forgets that summarised information is provided individually for each material associate, without aggregation, the standard providing no exemption for a local constraint.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"It confuses summarised information with quoted fair value, which may be grouped, the standard reserving individual information for joint ventures.","es":""},"correct":false,"feedback":{"fr":"","en":"Quoted fair value and summarised information are two distinct items of information, and the requirement for individual information applies to joint ventures as to material associates (IFRS 12, para. B12). Rule to remember: Summarised information is individual for both categories (IFRS 12, para. B12).","es":""}},{"id":"D","text":{"fr":"","en":"It overlooks that the local constraint exempts from summarised information, the standard leaving local law to fix what is published.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard provides no exemption for a local constraint, and does not refer to local law to fix the information (IFRS 12, para. B12). Assuming an exemption would invent an exception. Rule to remember: A local constraint does not exempt from summarised information (IFRS 12, para. B12).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000034","standard_id":"IFRS12","concept_ids":["IFRS12.JAASSOCIATES.SUMMARISED_INFORMATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_VG.IFRS12.000008","tested_point":"VG.IFRS12.000008","difficulty":"ADVANCED","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000006","section_id":"rule-summarised"},"references":["IFRS 12 §B12","IFRS 12"],"exercise":{"prompt":{"fr":"","en":"Summarised financial information about material joint ventures and associates is provided individually for each of them, without aggregation.","es":""},"explanation":{"fr":"","en":"For each material joint venture and associate, the entity discloses dividends received and summarised financial information (IFRS 12, para. B12); the Interpretations Committee concluded in 2015 that this information is provided individually, without aggregation. Trap: Aggregating the summarised information of several material joint ventures. Rule to remember: Individual summarised information for each material entity (IFRS 12, para. B12).","es":""},"common_error":{"fr":"","en":"Aggregating the summarised information of several material joint ventures.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT","reserve":true},{"key":"QST.IFRS12.000035","standard_id":"IFRS12","concept_ids":["IFRS12.JAASSOCIATES.RECONCILIATION"],"dimension":"CALCULATION","context":"V1_QST.IFRS12.000035","tested_point":"QST.IFRS12.000035","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000007","section_id":"rule-reconciliation"},"references":["IFRS 12 §B14","IFRS 12"],"exercise":{"prompt":{"fr":"","en":"Éole SA holds {investor_percent} of Zéphyr SA, a material associate accounted for using the equity method. Zéphyr's net assets in its summarised information: {summarised_net_assets}. The goodwill included in the carrying amount of the interest is {goodwill} and the other adjustments (fair value in particular) are {other_adjustments} (case data). Calculate the share of the summarised net assets, then the carrying amount of the interest to which the summarised information is reconciled.","es":""},"explanation":{"fr":"","en":"Method: 5,200,000 × 30% = 1,560,000; carrying amount of the interest 1,560,000 + 240,000 + 80,000 = 1,880,000. The summarised information is reconciled to the carrying amount of the entity's interest in the associate (IFRS 12, para. B14), which includes, besides the share of net assets, goodwill and adjustments. Trap: Forgetting goodwill or fair value adjustments in the reconciliation. Rule to remember: Carrying amount = share of net assets + goodwill + other adjustments (IFRS 12, para. B14).","es":""},"common_error":{"fr":"","en":"Forgetting goodwill or fair value adjustments in the reconciliation.","es":""},"format":"CALCULATION","placeholders":[{"id":"summarised_net_assets","value":"5200000","unit":"EUR"},{"id":"investor_percent","value":"30","unit":"PERCENT"},{"id":"goodwill","value":"240000","unit":"EUR"},{"id":"other_adjustments","value":"80000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Associate's net assets in the summarised information","es":""},"value":"5200000","unit":"EUR"},{"label":{"fr":"","en":"Investor's percentage","es":""},"value":"30","unit":"PERCENT"},{"label":{"fr":"","en":"Goodwill included in the carrying amount","es":""},"value":"240000","unit":"EUR"},{"label":{"fr":"","en":"Other adjustments (fair value in particular)","es":""},"value":"80000","unit":"EUR"}],"steps":[{"id":"SHARE_OF_NET_ASSETS","label":{"fr":"","en":"Share of the summarised net assets","es":""},"answer":1560000,"tolerance":0,"unit":"EUR"},{"id":"CARRYING_AMOUNT_OF_INTEREST","label":{"fr":"","en":"Carrying amount of the interest","es":""},"answer":1880000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"SHARE_OF_NET_ASSETS","meaning":{"fr":"","en":"Share of the summarised net assets","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Associate's net assets in the summarised information","es":""},"value":5200000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Investor's percentage","es":""},"value":30,"unit":"PERCENT"}],"result":1560000,"unit":"EUR"},{"step":"CARRYING_AMOUNT_OF_INTEREST","meaning":{"fr":"","en":"Carrying amount of the interest","es":""},"expression":"a + b + c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Share of the summarised net assets","es":""},"value":1560000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Goodwill included in the carrying amount","es":""},"value":240000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Other adjustments (fair value in particular)","es":""},"value":80000,"unit":"EUR"}],"result":1880000,"unit":"EUR"}],"rationale":{"fr":"","en":"Carrying amount = share of net assets + goodwill + other adjustments (IFRS 12, para. B14).","es":""},"references":["REF.IFRS12.B14"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000036","standard_id":"IFRS12","concept_ids":["IFRS12.JAASSOCIATES.RESTRICTIONS_AND_LOSSES"],"dimension":"CALCULATION","context":"V1_QST.IFRS12.000036","tested_point":"QST.IFRS12.000036","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000007","section_id":"rule-losses"},"references":["IFRS 12 §22"],"exercise":{"prompt":{"fr":"","en":"Gaïa SA has stopped recognising its share of the losses of the joint venture Hélios, because its interest has been reduced to zero (case data). Unrecognised share of losses, cumulative at the start: {cumulative_unrecognised_opening}. Unrecognised share for the period: {unrecognised_share_for_period}. Calculate the cumulative unrecognised share to disclose at the end of the period.","es":""},"explanation":{"fr":"","en":"Method: 310,000 + 95,000 = 405,000. Where it has stopped recognising its share of the losses of a joint venture or associate, the entity discloses the unrecognised share, for the period and cumulatively (IFRS 12, para. 22). Trap: Not accumulating the unrecognised share of losses over several years. Rule to remember: Closing cumulative share = opening cumulative share + share for the period (IFRS 12, para. 22).","es":""},"common_error":{"fr":"","en":"Not accumulating the unrecognised share of losses over several years.","es":""},"format":"CALCULATION","placeholders":[{"id":"cumulative_unrecognised_opening","value":"310000","unit":"EUR"},{"id":"unrecognised_share_for_period","value":"95000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Cumulative unrecognised share at the start","es":""},"value":"310000","unit":"EUR"},{"label":{"fr":"","en":"Unrecognised share for the period","es":""},"value":"95000","unit":"EUR"}],"steps":[{"id":"CUMULATIVE_UNRECOGNISED_CLOSING","label":{"fr":"","en":"Cumulative unrecognised share at the end","es":""},"answer":405000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"CUMULATIVE_UNRECOGNISED_CLOSING","meaning":{"fr":"","en":"Cumulative unrecognised share at the end","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cumulative unrecognised share at the start","es":""},"value":310000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Unrecognised share for the period","es":""},"value":95000,"unit":"EUR"}],"result":405000,"unit":"EUR"}],"rationale":{"fr":"","en":"Closing cumulative share = opening cumulative share + share for the period (IFRS 12, para. 22).","es":""},"references":["REF.IFRS12.22"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000037","standard_id":"IFRS12","concept_ids":["IFRS12.JAASSOCIATES.COMMITMENTS_CONTINGENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS12.000037","tested_point":"QST.IFRS12.000037","difficulty":"ADVANCED","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000007","section_id":"rule-commitments"},"references":["IFRS 12 §23"],"exercise":{"prompt":{"fr":"","en":"The commitments relating to the entity's joint ventures are grouped with its other commitments, with no separate disclosure.","es":""},"explanation":{"fr":"","en":"The entity discloses separately the commitments relating to its joint ventures and the contingent liabilities relating to its joint ventures and associates, including its share, unless the probability of loss is remote (IFRS 12, para. 23). Trap: Mixing the commitments of joint ventures with the entity's other commitments. Rule to remember: Joint venture commitments: separate disclosure (IFRS 12, para. 23).","es":""},"common_error":{"fr":"","en":"Mixing the commitments of joint ventures with the entity's other commitments.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000038","standard_id":"IFRS12","concept_ids":["IFRS12.UCSE.DEFINITION"],"dimension":"RULE_KNOWLEDGE","context":"V1_VG.IFRS12.000006","tested_point":"VG.IFRS12.000006","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000008","section_id":"rule-definition"},"references":["IFRS 12"],"exercise":{"prompt":{"fr":"","en":"Any entity that has few voting rights is a structured entity within the meaning of IFRS 12.","es":""},"explanation":{"fr":"","en":"A structured entity is an entity designed so that voting or similar rights are not the dominant factor in deciding who controls it, for example where voting rights relate to administrative tasks and the relevant activities are directed by contractual arrangements (IFRS 12, Appendix A). Trap: Classifying as a structured entity any entity with few voting rights. Rule to remember: Structured-entity status comes from design, not from the quantity of voting rights (IFRS 12, Appendix A).","es":""},"common_error":{"fr":"","en":"Classifying as a structured entity any entity with few voting rights.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000039","standard_id":"IFRS12","concept_ids":["IFRS12.UCSE.DEFINITION"],"dimension":"APPLICATION","context":"V1_VG.IFRS12.000006","tested_point":"VG.IFRS12.000006","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000008","section_id":"rule-definition"},"references":["IFRS 12","IFRS 12 §B22","IFRS 12 §B23"],"exercise":{"prompt":{"fr":"","en":"Titri is a securitisation vehicle: its voting rights relate to administrative tasks only, and its relevant activities are directed by contractual arrangements (case facts). How is Titri characterised under IFRS 12?","es":""},"explanation":{"fr":"","en":"A structured entity is designed so that voting rights are not the dominant factor in deciding who controls it, for example where voting rights relate to administrative tasks and the relevant activities are directed by contractual arrangements (IFRS 12, Appendix A); securitisation vehicles are a common example (IFRS 12, para. B23). Case facts: administrative voting rights, activities directed by contract. Titri is a structured entity. Trap: Looking for structured-entity status in the quantity of voting rights. Rule to remember: Structured entity: non-dominant voting rights (IFRS 12, Appendix A).","es":""},"common_error":{"fr":"","en":"Classifying as a structured entity any entity with few voting rights.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Not a structured entity, because any entity with voting rights is directed by their holders, whatever the nature of those rights.","es":""},"correct":false,"feedback":{"fr":"","en":"The presence of voting rights does not make an entity a non-structured one: what matters is that they are not the dominant factor in control (IFRS 12, Appendix A). Here they relate to administrative tasks only. Rule to remember: Voting rights must be the dominant factor to rule out structured-entity status (IFRS 12, Appendix A).","es":""}},{"id":"B","text":{"fr":"","en":"An investment entity, a securitisation vehicle being so characterised by the standard for all disclosure purposes.","es":""},"correct":false,"feedback":{"fr":"","en":"An investment entity is a distinct notion: structured-entity status comes from the entity's design, and a securitisation vehicle is not characterised as an investment entity by the standard (IFRS 12, para. B23). Rule to remember: Structured entity and investment entity are two distinct notions (IFRS 12, para. B22).","es":""}},{"id":"C","text":{"fr":"","en":"An ordinary subsidiary, the contractual arrangements that direct its relevant activities not changing how control of it is assessed.","es":""},"correct":false,"feedback":{"fr":"","en":"Titri is precisely designed so that voting rights do not dominate control: the contractual arrangements directing its activities distinguish it from an ordinary entity (IFRS 12, Appendix A). Rule to remember: Activities directed by contract: structured entity (IFRS 12, Appendix A).","es":""}},{"id":"D","text":{"fr":"","en":"A structured entity: it is designed so that voting rights are not the dominant factor in deciding who controls it.","es":""},"correct":true}]},"scope":"CORE_STUDENT","reserve":true},{"key":"QST.IFRS12.000040","standard_id":"IFRS12","concept_ids":["IFRS12.UCSE.DEFINITION"],"dimension":"APPLICATION","context":"V1_VG.IFRS12.000006","tested_point":"VG.IFRS12.000006","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000008","section_id":"rule-definition"},"references":["IFRS 12","IFRS 12 §B22"],"exercise":{"prompt":{"fr":"","en":"Boa SA is a fund whose units carry a voting right proportional to contributions, exercised at a meeting; the meeting decides the investment policy and the other relevant activities, and no contractual arrangement directs those activities in its place (case facts). How is Boa characterised under IFRS 12?","es":""},"explanation":{"fr":"","en":"A structured entity is designed so that voting rights are not the dominant factor in deciding who controls it (IFRS 12, Appendix A); some investment funds are examples of structured entities, but not all (IFRS 12, para. B23). Case facts: proportional voting rights, the meeting deciding the relevant activities, no contractual arrangement directing them. Boa is not a structured entity. Trap: Classifying as a structured entity any entity with few voting rights, or any fund. Rule to remember: Dominant voting rights: not a structured entity (IFRS 12, Appendix A).","es":""},"common_error":{"fr":"","en":"Classifying as a structured entity any entity with few voting rights, or any investment fund.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It is a structured entity, because any investment fund, whatever its governance, falls into that category within the meaning of the standard.","es":""},"correct":false,"feedback":{"fr":"","en":"Some investment funds are structured entities, but not all of them: it all depends on the design and the role of voting rights (IFRS 12, para. B23). Here voting rights dominate control. Rule to remember: A fund is not structured by nature (IFRS 12, para. B23).","es":""}},{"id":"B","text":{"fr":"","en":"It is not a structured entity: voting rights are the dominant factor in deciding who controls it.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"It is a structured entity, because its main activity is to invest funds on behalf of its unit holders.","es":""},"correct":false,"feedback":{"fr":"","en":"The fund's purpose, investing funds, does not determine structured-entity status: what counts is the role of voting rights in control (IFRS 12, Appendix A). Rule to remember: The activity does not make the structured entity (IFRS 12, Appendix A).","es":""}},{"id":"D","text":{"fr":"","en":"It is a structured entity because it has fewer than ten unit holders, which limits the effect of their voting rights.","es":""},"correct":false,"feedback":{"fr":"","en":"The number of unit holders is not a criterion of the definition, and the case gives no such figure (IFRS 12, Appendix A). Inventing a threshold of ten holders would add a rule. Rule to remember: The definition contains no number of holders (IFRS 12, Appendix A).","es":""}}]},"scope":"CORE_STUDENT","reserve":true},{"key":"QST.IFRS12.000041","standard_id":"IFRS12","concept_ids":["IFRS12.UCSE.OBJECTIVE"],"dimension":"ANALYSIS","context":"V1_QST.IFRS12.000041","tested_point":"QST.IFRS12.000041","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000008","section_id":"rule-objective"},"references":["IFRS 12 §24"],"exercise":{"prompt":{"fr":"","en":"A colleague writes: \"The information on unconsolidated structured entities in paragraph 24 also applies to the structured entities that our group consolidates.\" What is the error in this reasoning?","es":""},"explanation":{"fr":"","en":"The entity provides information enabling an understanding of the nature and extent of its interests in unconsolidated structured entities and an evaluation of the nature and evolution of the associated risks (IFRS 12, para. 24); consolidated structured entities fall under the information on subsidiaries. Trap: Applying that information to consolidated structured entities. Rule to remember: Paragraph 24: unconsolidated structured entities (IFRS 12, para. 24).","es":""},"common_error":{"fr":"","en":"Applying the information on unconsolidated structured entities to consolidated structured entities.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It forgets that the information in paragraph 24 also covers consolidated entities, but under simplified arrangements provided by the standard.","es":""},"correct":false,"feedback":{"fr":"","en":"Paragraph 24 provides no simplified arrangements for consolidated entities: it concerns interests in unconsolidated structured entities (IFRS 12, para. 24). Rule to remember: Paragraph 24 = unconsolidated structured entities (IFRS 12, para. 24).","es":""}},{"id":"B","text":{"fr":"","en":"It confuses structured entities with investment entities, to which the information in paragraph 24 applies.","es":""},"correct":false,"feedback":{"fr":"","en":"The information in paragraph 24 is not reserved for investment entities: it covers interests in unconsolidated structured entities (IFRS 12, para. 24). Rule to remember: Paragraph 24 is tied to non-consolidation, not to investment entity status (IFRS 12, para. 24).","es":""}},{"id":"C","text":{"fr":"","en":"It ignores that the information in paragraph 24 is reserved for sponsors, whatever interest the group holds in the entity.","es":""},"correct":false,"feedback":{"fr":"","en":"The information in paragraph 24 is not reserved for sponsors: it concerns interests in unconsolidated structured entities, whoever holds them (IFRS 12, para. 24). Rule to remember: The criterion is non-consolidation, not the sponsor role (IFRS 12, para. 24).","es":""}},{"id":"D","text":{"fr":"","en":"It applies to consolidated structured entities information provided for interests in unconsolidated structured entities.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000042","standard_id":"IFRS12","concept_ids":["IFRS12.UCSE.OBJECTIVE"],"dimension":"APPLICATION","context":"V1_QST.IFRS12.000042","tested_point":"QST.IFRS12.000042","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000008","section_id":"rule-objective"},"references":["IFRS 12 §24"],"exercise":{"prompt":{"fr":"","en":"Gamma SA holds an interest in a securitisation fund, a structured entity that it does not consolidate (case facts). What is the objective of the information that IFRS 12 asks it to provide in this respect?","es":""},"explanation":{"fr":"","en":"The entity provides information enabling an understanding of the nature and extent of its interests in unconsolidated structured entities and an evaluation of the nature and evolution of the associated risks (IFRS 12, para. 24). Case facts: interest in an unconsolidated securitisation fund. Trap: Applying that information to consolidated structured entities, or reducing it to a single risk. Rule to remember: Nature and extent of the interest, nature and evolution of risks (IFRS 12, para. 24).","es":""},"common_error":{"fr":"","en":"Applying that information to consolidated structured entities.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"To enable an understanding of the nature and extent of its interest in the fund and an evaluation of the nature and evolution of the associated risks.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"To make it possible to know whether Gamma must consolidate the fund, by assessing whether it has power, exposure to returns and the link between the two.","es":""},"correct":false,"feedback":{"fr":"","en":"The control criterion falls under IFRS 10, not under the information in paragraph 24, which presupposes that the structured entity is not consolidated (IFRS 12, para. 24). Rule to remember: Paragraph 24 informs, it does not determine consolidation (IFRS 12, para. 24).","es":""}},{"id":"C","text":{"fr":"","en":"To set the measurement method for Gamma's interest in the fund, between fair value and the equity method depending on its significance.","es":""},"correct":false,"feedback":{"fr":"","en":"IFRS 12 does not set the measurement method for the interest: it governs the disclosures, accounting falling under other standards (IFRS 12, para. 24). Rule to remember: IFRS 12 discloses, it does not measure (IFRS 12, para. 24).","es":""}},{"id":"D","text":{"fr":"","en":"To limit the information to the credit risks of the securitised assets, the fund's other risks falling under its own financial statements.","es":""},"correct":false,"feedback":{"fr":"","en":"The objective of paragraph 24 covers the evaluation of the nature and evolution of the associated risks, without being limited to the credit risks of securitised assets (IFRS 12, para. 24). Rule to remember: The objective concerns the nature and extent of the interest and the risks (IFRS 12, para. 24).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000043","standard_id":"IFRS12","concept_ids":["IFRS12.UCSE.PAST_INVOLVEMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS12.000043","tested_point":"QST.IFRS12.000043","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000008","section_id":"rule-past"},"references":["IFRS 12 §25"],"exercise":{"prompt":{"fr":"","en":"Sigma SA sponsored an unconsolidated structured entity, with which it no longer has any contractual link at the reporting date (case facts). Must it still provide information about the risk arising from its past involvement?","es":""},"explanation":{"fr":"","en":"The information on risks includes exposure arising from past involvement with unconsolidated structured entities, notably that of a sponsor, even without a contractual link at the reporting date (IFRS 12, para. 25). Case facts: sponsor with no contractual link at the reporting date. Sigma therefore assesses the residual exposure arising from its past involvement. Trap: Not disclosing a risk arising from past involvement with no contractual link at the reporting date. Rule to remember: A sponsor's past involvement falls within the information on risks (IFRS 12, para. 25).","es":""},"common_error":{"fr":"","en":"Not disclosing a risk arising from past involvement with no contractual link at the reporting date.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No: the absence of a contractual link at the reporting date ends the information on risks, which follows the contracts existing at that date.","es":""},"correct":false,"feedback":{"fr":"","en":"The information does not follow existing contracts alone: a sponsor's past involvement is covered even without a contractual link at the reporting date (IFRS 12, para. 25). Concluding that no information is needed would ignore this point. Rule to remember: A sponsor's past involvement can require disclosure (IFRS 12, para. 25).","es":""}},{"id":"B","text":{"fr":"","en":"Yes, provided Sigma still holds securities of the entity at the reporting date, the capital link then replacing the contractual link.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard does not make the information conditional on holding securities at the reporting date: past involvement is enough, even without a contractual link (IFRS 12, para. 25). Rule to remember: A current link is not required (IFRS 12, para. 25).","es":""}},{"id":"C","text":{"fr":"","en":"Yes: the exposure arising from its past involvement as sponsor falls within the information on risks, even with no contractual link at the reporting date.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Yes, but the standard limits the information to sponsors that provided financial support during the period concerned.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard does not limit the information to sponsors that provided support during the period: it covers exposure arising from past involvement (IFRS 12, para. 25). Adding that condition would invent a rule. Rule to remember: Past exposure is covered, with no support condition (IFRS 12, para. 25).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000044","standard_id":"IFRS12","concept_ids":["IFRS12.INVESTMENT.UNCONSOLIDATED_SUBS"],"dimension":"APPLICATION","context":"V1_QST.IFRS12.000044","tested_point":"QST.IFRS12.000044","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000009","section_id":"rule-subs"},"references":["IFRS 12 §19A","IFRS 12 §19B"],"exercise":{"prompt":{"fr":"","en":"Orient SA is an investment entity required to apply the exception to consolidation; it holds an unconsolidated subsidiary, Zeta SA (case facts). What information does IFRS 12 ask it to provide?","es":""},"explanation":{"fr":"","en":"An investment entity required to apply the exception to consolidation discloses that fact (IFRS 12, para. 19A) and, for each unconsolidated subsidiary, discloses the name, principal place of business, ownership interest and, if different, the proportion of voting rights (IFRS 12, para. 19B). Case facts: Orient applies the exception and holds Zeta, unconsolidated. Trap: Applying consolidation information to an investment entity's unconsolidated subsidiary. Rule to remember: Exception disclosed, then identification of each unconsolidated subsidiary (IFRS 12, paras 19A and 19B).","es":""},"common_error":{"fr":"","en":"Applying consolidation information to an investment entity's unconsolidated subsidiary.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The consolidation information on the composition of the group and the share of non-controlling interests, as for a consolidated subsidiary.","es":""},"correct":false,"feedback":{"fr":"","en":"The group-composition information concerns consolidated financial statements; for an investment entity's unconsolidated subsidiary, the information is that of paragraphs 19A and 19B (IFRS 12, para. 19B). Rule to remember: Unconsolidated subsidiary: its own information, not consolidation information (IFRS 12, para. 19B).","es":""}},{"id":"B","text":{"fr":"","en":"Nothing, an unconsolidated subsidiary being outside the scope of IFRS 12 since the investment entity does not consolidate it.","es":""},"correct":false,"feedback":{"fr":"","en":"The unconsolidated subsidiary is not outside the scope: IFRS 12 provides information specific to investment entities for their unconsolidated subsidiaries (IFRS 12, para. 19A). Rule to remember: Non-consolidation does not exclude disclosure (IFRS 12, para. 19A).","es":""}},{"id":"C","text":{"fr":"","en":"The fact that it applies the exception and, for Zeta, the name, principal place of business, ownership interest and, if different, the proportion of voting rights.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Zeta's name and place of business, the ownership interest and the proportion of voting rights falling under IFRS 10 and not to be disclosed.","es":""},"correct":false,"feedback":{"fr":"","en":"IFRS 12 asks precisely for the ownership interest and, if different, the proportion of voting rights of each unconsolidated subsidiary to be disclosed (IFRS 12, para. 19B). Rule to remember: Ownership and voting proportions are disclosed (IFRS 12, para. 19B).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000045","standard_id":"IFRS12","concept_ids":["IFRS12.INVESTMENT.SUPPORT_AND_RESTRICTIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS12.000045","tested_point":"QST.IFRS12.000045","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000009","section_id":"rule-support"},"references":["IFRS 12 §25A"],"exercise":{"prompt":{"fr":"","en":"An investment entity controls an unconsolidated structured entity (case facts). Must it provide for it the information in paragraph 24 on interests in unconsolidated structured entities?","es":""},"explanation":{"fr":"","en":"An investment entity does not have to provide the information in paragraph 24 for an unconsolidated structured entity that it controls, the information specific to investment entities (paragraphs 19A onwards) applying (IFRS 12, para. 25A). Case facts: an investment entity that controls an unconsolidated structured entity. Trap: Ignoring the exemption from paragraph 24 for an unconsolidated structured entity controlled by an investment entity. Rule to remember: Exemption from paragraph 24, information specific to investment entities (IFRS 12, para. 25A).","es":""},"common_error":{"fr":"","en":"Ignoring the exemption from paragraph 24 for an unconsolidated structured entity controlled by an investment entity.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No: it is exempted for an unconsolidated structured entity that it controls, the information specific to investment entities applying.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Yes, like any entity, because the exemption concerns the structured entities in which the investment entity has neither control nor a voting right.","es":""},"correct":false,"feedback":{"fr":"","en":"The exemption concerns precisely the unconsolidated structured entity that the investment entity controls: that is the situation described (IFRS 12, para. 25A). Setting the exemption aside would ignore that case. Rule to remember: Controlled structured entity: exemption from paragraph 24 for the investment entity (IFRS 12, para. 25A).","es":""}},{"id":"C","text":{"fr":"","en":"Yes, but limited to the maximum exposure to loss, the other information in paragraph 24 being set aside for these entities.","es":""},"correct":false,"feedback":{"fr":"","en":"The exemption sets aside the information in paragraph 24 for that entity, without reducing that information to maximum exposure (IFRS 12, para. 25A). Adding a reduction would invent a regime. Rule to remember: Exemption or full application, no partial regime (IFRS 12, para. 25A).","es":""}},{"id":"D","text":{"fr":"","en":"No, and it has no information to provide about this entity, investment entity status exempting from all information.","es":""},"correct":false,"feedback":{"fr":"","en":"The exemption from paragraph 24 is not an exemption from all information: the information specific to investment entities applies (IFRS 12, para. 25A). Rule to remember: Paragraph 24 is replaced by the information specific to investment entities (IFRS 12, para. 25A).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000046","standard_id":"IFRS12","concept_ids":["IFRS12.INTERACTIONS.IFRS10","IFRS12.JUDGEMENTS.SIGNIFICANT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS12.000046","tested_point":"QST.IFRS12.000046","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000002","section_id":"rule-significant"},"references":["IFRS 12 §7","IFRS 12"],"exercise":{"prompt":{"fr":"","en":"Where are the criteria for knowing whether one entity controls another found, and what is IFRS 12's role in this respect?","es":""},"explanation":{"fr":"","en":"The criteria for control fall under IFRS 10; IFRS 12 governs the information to provide, notably on the significant judgements and assumptions that led to concluding on control (IFRS 12, para. 7). Trap: Looking in IFRS 12 for the criteria for control. Rule to remember: IFRS 10 determines control, IFRS 12 informs about the corresponding judgements (IFRS 12, para. 7).","es":""},"common_error":{"fr":"","en":"Looking in IFRS 12 for the criteria for control.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"In IFRS 12, which sets the criteria for control, IFRS 10 merely prescribing the presentation of consolidated financial statements.","es":""},"correct":false,"feedback":{"fr":"","en":"IFRS 12 does not set the criteria for control: it requires the significant judgements that led to concluding on control to be explained (IFRS 12, para. 7). Reversing the roles amounts to looking in IFRS 12 for what belongs to IFRS 10. Rule to remember: IFRS 10 determines control, IFRS 12 explains it (IFRS 12, para. 7).","es":""}},{"id":"B","text":{"fr":"","en":"In IFRS 11, which defines control of an entity and refers to IFRS 12 for the consolidation of structured entities.","es":""},"correct":false,"feedback":{"fr":"","en":"IFRS 11 deals with the classification and accounting of joint arrangements, not with the criteria for one entity controlling another (IFRS 12, para. 7). Rule to remember: Control of an entity falls under IFRS 10 (IFRS 12, para. 7).","es":""}},{"id":"C","text":{"fr":"","en":"In IAS 28, which defines control by contrast with significant influence, IFRS 12 setting the scope of consolidated statements.","es":""},"correct":false,"feedback":{"fr":"","en":"IAS 28 deals with the equity method; it does not define control, and IFRS 12 does not set the scope of consolidated statements (IFRS 12, para. 7). Rule to remember: No criteria for control in IAS 28 (IFRS 12, para. 7).","es":""}},{"id":"D","text":{"fr":"","en":"In IFRS 10; IFRS 12 governs the information to provide about the significant judgements that led to concluding on control.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000047","standard_id":"IFRS12","concept_ids":["IFRS12.INTERACTIONS.IFRS11_IAS28","IFRS12.JUDGEMENTS.SIGNIFICANT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS12.000047","tested_point":"QST.IFRS12.000047","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000002","section_id":"rule-significant"},"references":["IFRS 12 §7","IFRS 12"],"exercise":{"prompt":{"fr":"","en":"Which statements about how topics are divided between IFRS 11, IAS 28 and IFRS 12 for a joint arrangement are correct? More than one answer is possible.","es":""},"explanation":{"fr":"","en":"The type of joint arrangement and joint control fall under IFRS 11; the equity method and carrying amount fall under IAS 28; IFRS 12 governs the information to provide on those judgements and on joint ventures, including the judgements in paragraph 7 (IFRS 12, para. 7). Trap: Looking in IFRS 12 for the classification of a joint arrangement or the measurement method. Rule to remember: IFRS 11 and IAS 28 account, IFRS 12 informs (IFRS 12, para. 7).","es":""},"common_error":{"fr":"","en":"Looking in IFRS 12 for the classification of a joint arrangement or the measurement method.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The equity method and the carrying amount of the joint venture fall under IAS 28.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"IFRS 12 chooses the measurement method for the joint venture between the equity method and fair value, for all entities.","es":""},"correct":false,"feedback":{"fr":"","en":"The measurement method for a joint venture falls under IAS 28 and IFRS 11; IFRS 12 requires the method adopted to be disclosed, without choosing it (IFRS 12, para. 7). Rule to remember: IFRS 12 states the method, it does not set it (IFRS 12, para. 7).","es":""}},{"id":"C","text":{"fr":"","en":"The information to provide on the judgements and on joint ventures falls under IFRS 12.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The type of joint arrangement and joint control fall under IFRS 11.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The classification of a joint arrangement as a joint operation or a joint venture is set by IFRS 12, in light of the information provided.","es":""},"correct":false,"feedback":{"fr":"","en":"Classification of a joint arrangement falls under IFRS 11: IFRS 12 does not set its outcome, it asks for the judgements that led to it to be explained (IFRS 12, para. 7). Rule to remember: IFRS 11 classifies, IFRS 12 informs (IFRS 12, para. 7).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000048","standard_id":"IFRS12","concept_ids":["IFRS12.INTERACTIONS.PIR_2022","IFRS12.SUBSIDIARIES.GROUP_COMPOSITION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS12.000048","tested_point":"QST.IFRS12.000048","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000003","section_id":"rule-composition"},"references":["IFRS 12 §10","IFRS 12"],"exercise":{"prompt":{"fr":"","en":"The fact that additional information about interests in other entities appears among the low-priority topics of the 2022 post-implementation review does not change the requirements of IFRS 12, including the group-composition objective in paragraph 10.","es":""},"explanation":{"fr":"","en":"The IASB concluded in June 2022 that the requirements of IFRS 12 are working as intended; the low-priority topics, including additional information about interests in other entities, are neither rules nor amendments to the standard. Paragraph 10 remains applicable: the entity provides information enabling an understanding of the composition of the group (IFRS 12, para. 10). Trap: Presenting a low-priority topic of the review as a requirement of IFRS 12. Rule to remember: A review finding neither removes nor creates a requirement (IFRS 12, para. 10).","es":""},"common_error":{"fr":"","en":"Presenting a low-priority topic of the post-implementation review as a requirement of IFRS 12.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000049","standard_id":"IFRS12","concept_ids":["IFRS12.SCOPE.APPLICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS12.000049","tested_point":"QST.IFRS12.000049","difficulty":"BEGINNER","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000001","section_id":"rule-objective"},"references":["IFRS 12 §5"],"exercise":{"prompt":{"fr":"","en":"Atria SA holds the following interests or positions (case facts). Which fall within the scope of IFRS 12? (Several answers.)","es":""},"explanation":{"fr":"","en":"IFRS 12 applies to an entity that has an interest in a subsidiary, a joint arrangement (joint operation or joint venture), an associate or an unconsolidated structured entity (IFRS 12, para. 5). The positions held are case facts; mere trade receivables from customers with no other link fall into none of these categories. Trap: forgetting unconsolidated structured entities. Rule to remember: subsidiaries, joint arrangements, associates and unconsolidated structured entities.","es":""},"common_error":{"fr":"","en":"Excluding interests in unconsolidated structured entities from the scope.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Trade receivables from customers with which Atria has no other link.","es":""},"correct":false,"feedback":{"fr":"","en":"These receivables are not an interest in any of the categories covered by the Standard (IFRS 12, para. 5).","es":""}},{"id":"B","text":{"fr":"","en":"An interest in a subsidiary.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"An interest in a joint venture.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"An interest in an unconsolidated structured entity.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"An interest in an associate.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS12.000050","standard_id":"IFRS12","concept_ids":["IFRS12.JAASSOCIATES.MATERIAL_ENTITIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS12.000050","tested_point":"QST.IFRS12.000050","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":75,"lesson_id":null,"review":{"standard_id":"IFRS12","lesson_id":"LS.IFRS12.000006","section_id":"rule-material"},"references":["IFRS 12 §20"],"exercise":{"prompt":{"fr":"","en":"What is the objective of the IFRS 12 disclosures on interests in joint arrangements and associates?","es":""},"explanation":{"fr":"","en":"The entity discloses information that enables users to evaluate the nature, extent and financial effects of its interests in joint arrangements and associates, including the nature and effects of its contractual relationship with the other investors, and the nature of, and changes in, the associated risks (IFRS 12, para. 20). Trap: reducing the disclosure to the share of profit or loss or to risks alone. Rule to remember: nature, extent, financial effects and risks.","es":""},"common_error":{"fr":"","en":"Reducing the disclosures on a joint arrangement to the share of profit or loss.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"To disclose only the investor's share of the profit or loss of these entities.","es":""},"correct":false,"feedback":{"fr":"","en":"The share of profit or loss is not enough: the objective covers nature, extent, financial effects and risks (IFRS 12, para. 20).","es":""}},{"id":"B","text":{"fr":"","en":"To justify the choice between consolidation and the equity method, without information on risks.","es":""},"correct":false,"feedback":{"fr":"","en":"The objective is to shed light on the interests held and their risks, not to justify an accounting method (IFRS 12, para. 20).","es":""}},{"id":"C","text":{"fr":"","en":"To describe only the risks associated with these interests, their financial effects being shown in the primary statements alone.","es":""},"correct":false,"feedback":{"fr":"","en":"The objective covers both the financial effects of the interests and the associated risks (IFRS 12, para. 20).","es":""}},{"id":"D","text":{"fr":"","en":"To enable users to evaluate the nature, extent and financial effects of these interests, and the nature of, and changes in, the associated risks.","es":""},"correct":true}]},"scope":"CORE_STUDENT"}],"reviewTitles":{"LX.IFRS12.000001":"What IFRS 12 is for: objective, scope and level of detail — The rule: an objective, then whatever it takes to meet it","LX.IFRS12.000002":"What IFRS 12 is for: objective, scope and level of detail — Example: spotting Rovain SA's interests","LX.IFRS12.000003":"What IFRS 12 is for: objective, scope and level of detail — Interests held for sale (link with IFRS 5)","LX.IFRS12.000004":"What IFRS 12 is for: objective, scope and level of detail — Interests held for sale (link with IFRS 5)","LX.IFRS12.000005":"What IFRS 12 is for: objective, scope and level of detail — The level of detail: aggregate or disaggregate?","LX.IFRS12.000007":"What IFRS 12 is for: objective, scope and level of detail — Understand: what is IFRS 12 about?","LX.IFRS12.000008":"What IFRS 12 is for: objective, scope and level of detail — The rule: an objective, then whatever it takes to meet it","LX.IFRS12.000009":"Significant judgements: explaining how the entity reached its conclusion — The rule: which conclusions, which explanation","LX.IFRS12.000010":"Significant judgements: explaining how the entity reached its conclusion — Examples of significant judgements","LX.IFRS12.000011":"Significant judgements: explaining how the entity reached its conclusion — Examples of significant judgements","LX.IFRS12.000012":"Significant judgements: explaining how the entity reached its conclusion — The rule: which conclusions, which explanation","LX.IFRS12.000013":"Significant judgements: explaining how the entity reached its conclusion — Points of attention","LX.IFRS12.000014":"Significant judgements: explaining how the entity reached its conclusion — When the facts change during the period","LX.IFRS12.000015":"Significant judgements: explaining how the entity reached its conclusion — When the facts change during the period","LX.IFRS12.000016":"Significant judgements: explaining how the entity reached its conclusion — Example: Kéris SA explains two conclusions","LX.IFRS12.000017":"Significant judgements: explaining how the entity reached its conclusion — The rule: which conclusions, which explanation","LX.IFRS12.000018":"The group and its material non-controlling interests — Worked example: profit allocated and closing balance","LX.IFRS12.000019":"The group and its material non-controlling interests — Understand: who else has claims in the group?","LX.IFRS12.000020":"The group and its material non-controlling interests — Material for whom? The consolidated viewpoint","LX.IFRS12.000021":"The group and its material non-controlling interests — The rule: one sheet per material subsidiary","LX.IFRS12.000022":"The group and its material non-controlling interests — Professional judgement: subsidiary or sub-group, material or not","LX.IFRS12.000023":"The group and its material non-controlling interests — Worked example: profit allocated and closing balance","LX.IFRS12.000024":"The group and its material non-controlling interests — Worked example: profit allocated and closing balance","LX.IFRS12.000025":"The group and its material non-controlling interests — The rule: one sheet per material subsidiary","LX.IFRS12.000026":"Summarised information on subsidiaries and restrictions on access to assets — The rule: before intragroup eliminations","LX.IFRS12.000027":"Summarised information on subsidiaries and restrictions on access to assets — Worked example: the summary of Brulon SA","LX.IFRS12.000028":"Summarised information on subsidiaries and restrictions on access to assets — The rule: before intragroup eliminations","LX.IFRS12.000029":"Summarised information on subsidiaries and restrictions on access to assets — Significant restrictions on the group's assets and liabilities","LX.IFRS12.000030":"Summarised information on subsidiaries and restrictions on access to assets — Example: three subsidiaries of Tamarel SA, three restrictions","LX.IFRS12.000031":"Summarised information on subsidiaries and restrictions on access to assets — Points of attention","LX.IFRS12.000032":"Summarised information on subsidiaries and restrictions on access to assets — Professional judgement: what makes a restriction significant","LX.IFRS12.000033":"Changes in ownership and loss of control: what the reader must see — Worked example: Calvia SA buys shares of Duprel SA","LX.IFRS12.000034":"Changes in ownership and loss of control: what the reader must see — Entry: the purchase of non-controlling interests","LX.IFRS12.000035":"Changes in ownership and loss of control: what the reader must see — Understand: two events, two effects to show","LX.IFRS12.000036":"Changes in ownership and loss of control: what the reader must see — Worked example: the loss of control of Ténard SA","LX.IFRS12.000037":"Changes in ownership and loss of control: what the reader must see — The rule: the gain or loss on loss of control","LX.IFRS12.000038":"Changes in ownership and loss of control: what the reader must see — Points of attention","LX.IFRS12.000039":"Changes in ownership and loss of control: what the reader must see — Professional judgement: policy choices and transparency","LX.IFRS12.000040":"Material joint arrangements and associates: nature, extent, financial effects — The rule: the sheet of a material entity","LX.IFRS12.000041":"Material joint arrangements and associates: nature, extent, financial effects — The rule: the sheet of a material entity","LX.IFRS12.000043":"Material joint arrangements and associates: nature, extent, financial effects — Example: two separate summaries for Dalvar SA","LX.IFRS12.000044":"Material joint arrangements and associates: nature, extent, financial effects — The rule: summarised information and dividends received","LX.IFRS12.000045":"Material joint arrangements and associates: nature, extent, financial effects — The rule: summarised information and dividends received","LX.IFRS12.000046":"Material joint arrangements and associates: nature, extent, financial effects — Understand: one balance sheet line, a whole world behind it","LX.IFRS12.000047":"Material joint arrangements and associates: nature, extent, financial effects — Entity by entity: no aggregation, no local relief","LX.IFRS12.000048":"Beyond the summary: reconciliation, unrecognised losses, commitments — Worked example: the reconciliation of Norvane SA","LX.IFRS12.000049":"Beyond the summary: reconciliation, unrecognised losses, commitments — The rule: from the summary to the carrying amount","LX.IFRS12.000050":"Beyond the summary: reconciliation, unrecognised losses, commitments — Worked example: cumulative unrecognised losses","LX.IFRS12.000051":"Beyond the summary: reconciliation, unrecognised losses, commitments — Commitments and contingent liabilities, apart","LX.IFRS12.000052":"Beyond the summary: reconciliation, unrecognised losses, commitments — Commitments and contingent liabilities, apart","LX.IFRS12.000053":"Beyond the summary: reconciliation, unrecognised losses, commitments — Unrecognised losses and restrictions on transfers of funds","LX.IFRS12.000054":"Beyond the summary: reconciliation, unrecognised losses, commitments — Points of attention","LX.IFRS12.000055":"Beyond the summary: reconciliation, unrecognised losses, commitments — The rule: from the summary to the carrying amount","LX.IFRS12.000056":"Structured entities: definition, consolidated and unconsolidated risks — The definition: a judgement about the design","LX.IFRS12.000057":"Structured entities: definition, consolidated and unconsolidated risks — Example: three entities examined by Orphée Capital","LX.IFRS12.000058":"Structured entities: definition, consolidated and unconsolidated risks — The definition: a judgement about the design","LX.IFRS12.000059":"Structured entities: definition, consolidated and unconsolidated risks — Example: where does each structured entity go?","LX.IFRS12.000060":"Structured entities: definition, consolidated and unconsolidated risks — Example: where does each structured entity go?","LX.IFRS12.000061":"Structured entities: definition, consolidated and unconsolidated risks — Points of attention","LX.IFRS12.000062":"Structured entities: definition, consolidated and unconsolidated risks — Past involvement of a sponsor","LX.IFRS12.000063":"Structured entities: definition, consolidated and unconsolidated risks — Past involvement of a sponsor","LX.IFRS12.000064":"Structured entities: definition, consolidated and unconsolidated risks — Risks of consolidated structured entities","LX.IFRS12.000065":"Structured entities: definition, consolidated and unconsolidated risks — Risks of consolidated structured entities","LX.IFRS12.000066":"Investment entities: information on status, unconsolidated subsidiaries and support — Explaining investment entity status and its change","LX.IFRS12.000067":"Investment entities: information on status, unconsolidated subsidiaries and support — Unconsolidated subsidiaries","LX.IFRS12.000068":"Investment entities: information on status, unconsolidated subsidiaries and support — Restrictions, financial support and relief","LX.IFRS12.000069":"Investment entities: information on status, unconsolidated subsidiaries and support — Restrictions, financial support and relief","LX.IFRS12.000070":"Investment entities: information on status, unconsolidated subsidiaries and support — Explaining investment entity status and its change","LX.IFRS12.000071":"Investment entities: information on status, unconsolidated subsidiaries and support — Example: Altaïr Capital's notes","LX.IFRS12.000072":"Who decides what: IFRS 10, IFRS 11, IAS 28 and IFRS 12 — The division of roles among four standards","LX.IFRS12.000073":"Who decides what: IFRS 10, IFRS 11, IAS 28 and IFRS 12 — Example: three questions in the Mercadia group","LX.IFRS12.000076":"Who decides what: IFRS 10, IFRS 11, IAS 28 and IFRS 12 — Points of attention","QST.IFRS12.000001":"What IFRS 12 is for: objective, scope and level of detail — The rule: an objective, then whatever it takes to meet it","QST.IFRS12.000002":"What IFRS 12 is for: objective, scope and level of detail — The rule: an objective, then whatever it takes to meet it","QST.IFRS12.000003":"What IFRS 12 is for: objective, scope and level of detail — Interests held for sale (link with IFRS 5)","QST.IFRS12.000004":"What IFRS 12 is for: objective, scope and level of detail — The level of detail: aggregate or disaggregate?","QST.IFRS12.000005":"What IFRS 12 is for: objective, scope and level of detail — The level of detail: aggregate or disaggregate?","QST.IFRS12.000006":"Significant judgements: explaining how the entity reached its conclusion — The rule: which conclusions, which explanation","QST.IFRS12.000007":"Significant judgements: explaining how the entity reached its conclusion — The rule: which conclusions, which explanation","QST.IFRS12.000008":"Significant judgements: explaining how the entity reached its conclusion — The rule: which conclusions, which explanation","QST.IFRS12.000009":"Significant judgements: explaining how the entity reached its conclusion — When the facts change during the period","QST.IFRS12.000010":"Significant judgements: explaining how the entity reached its conclusion — When the facts change during the period","QST.IFRS12.000011":"Significant judgements: explaining how the entity reached its conclusion — Examples of significant judgements","QST.IFRS12.000012":"Significant judgements: explaining how the entity reached its conclusion — Examples of significant judgements","QST.IFRS12.000014":"Investment entities: information on status, unconsolidated subsidiaries and support — Explaining investment entity status and its change","QST.IFRS12.000015":"The group and its material non-controlling interests — The rule: the reader's questions about the group","QST.IFRS12.000016":"The group and its material non-controlling interests — The rule: the reader's questions about the group","QST.IFRS12.000017":"The group and its material non-controlling interests — The rule: the reader's questions about the group","QST.IFRS12.000018":"The group and its material non-controlling interests — The rule: one sheet per material subsidiary","QST.IFRS12.000020":"The group and its material non-controlling interests — The rule: one sheet per material subsidiary","QST.IFRS12.000021":"Summarised information on subsidiaries and restrictions on access to assets — The rule: what the summary contains","QST.IFRS12.000022":"Summarised information on subsidiaries and restrictions on access to assets — The rule: what the summary contains","QST.IFRS12.000023":"Summarised information on subsidiaries and restrictions on access to assets — Significant restrictions on the group's assets and liabilities","QST.IFRS12.000025":"Structured entities: definition, consolidated and unconsolidated risks — Risks of consolidated structured entities","QST.IFRS12.000026":"Changes in ownership and loss of control: what the reader must see — The rule: the schedule of effects on equity","QST.IFRS12.000028":"Changes in ownership and loss of control: what the reader must see — The rule: the gain or loss on loss of control","QST.IFRS12.000029":"Changes in ownership and loss of control: what the reader must see — The rule: the gain or loss on loss of control","QST.IFRS12.000030":"Material joint arrangements and associates: nature, extent, financial effects — The rule: the sheet of a material entity","QST.IFRS12.000031":"Material joint arrangements and associates: nature, extent, financial effects — The rule: the sheet of a material entity","QST.IFRS12.000033":"Material joint arrangements and associates: nature, extent, financial effects — The rule: summarised information and dividends received","QST.IFRS12.000034":"Material joint arrangements and associates: nature, extent, financial effects — The rule: summarised information and dividends received","QST.IFRS12.000035":"Beyond the summary: reconciliation, unrecognised losses, commitments — The rule: from the summary to the carrying amount","QST.IFRS12.000036":"Beyond the summary: reconciliation, unrecognised losses, commitments — Unrecognised losses and restrictions on transfers of funds","QST.IFRS12.000037":"Beyond the summary: reconciliation, unrecognised losses, commitments — Commitments and contingent liabilities, apart","QST.IFRS12.000038":"Structured entities: definition, consolidated and unconsolidated risks — The definition: a judgement about the design","QST.IFRS12.000039":"Structured entities: definition, consolidated and unconsolidated risks — The definition: a judgement about the design","QST.IFRS12.000040":"Structured entities: definition, consolidated and unconsolidated risks — The definition: a judgement about the design","QST.IFRS12.000041":"Structured entities: definition, consolidated and unconsolidated risks — The objective: nature, extent and risks of unconsolidated interests","QST.IFRS12.000042":"Structured entities: definition, consolidated and unconsolidated risks — The objective: nature, extent and risks of unconsolidated interests","QST.IFRS12.000043":"Structured entities: definition, consolidated and unconsolidated risks — Past involvement of a sponsor","QST.IFRS12.000044":"Investment entities: information on status, unconsolidated subsidiaries and support — Unconsolidated subsidiaries","QST.IFRS12.000045":"Investment entities: information on status, unconsolidated subsidiaries and support — Restrictions, financial support and relief","QST.IFRS12.000046":"Significant judgements: explaining how the entity reached its conclusion — The rule: which conclusions, which explanation","QST.IFRS12.000047":"Significant judgements: explaining how the entity reached its conclusion — The rule: which conclusions, which explanation","QST.IFRS12.000048":"The group and its material non-controlling interests — The rule: the reader's questions about the group","QST.IFRS12.000049":"What IFRS 12 is for: objective, scope and level of detail — The rule: an objective, then whatever it takes to meet it","QST.IFRS12.000050":"Material joint arrangements and associates: nature, extent, financial effects — The rule: the sheet of a material entity"}}