{"entries":[{"key":"LX.IFRS18.000001","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.STRUCTURE.REPLACES_IAS1"],"dimension":"RECOGNITION","format":"SINGLE_CHOICE","context":"INDUSTRY","tested_point":"WHAT_IFRS18_ADDRESSES","difficulty":"BEGINNER","estimated_time_s":50,"lesson_id":"LS.IFRS18.000001","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000001","section_id":"understand"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"The finance director of Merlane SA reads that \"IFRS 18 replaces IAS 1\". Which of these sentences correctly describes the purpose of the new standard?","es":""},"explanation":{"fr":"","en":"Rule to remember: IFRS 18 deals with presentation and disclosure (IFRS 18).","es":""},"common_error":{"fr":"","en":"Mistaking a presentation standard for a recognition standard.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It sets the rules for recognising income, with an overhaul of the timing of attributing it","es":""},"correct":false,"feedback":{"fr":"","en":"Recognition of income belongs to another standard; IFRS 18 does not change its timing.","es":""}},{"id":"B","text":{"fr":"","en":"It sets the measurement methods for financial assets, with an overhaul of the impairment models","es":""},"correct":false,"feedback":{"fr":"","en":"Measurement and impairment of financial assets are dealt with elsewhere; IFRS 18 does not address them.","es":""}},{"id":"C","text":{"fr":"","en":"It sets presentation and disclosure, with an overhaul of the statement of profit or loss","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"It sets the rules for consolidating subsidiaries, with an overhaul of the notion of control","es":""},"correct":false,"feedback":{"fr":"","en":"Consolidation and control belong to other standards; IFRS 18 deals with presentation.","es":""}}]},"scope":"CORE_STUDENT","reserve":true},{"key":"LX.IFRS18.000002","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.STRUCTURE.REPLACES_IAS1"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"RETAIL","tested_point":"IFRS18_DOES_NOT_CHANGE_RECOGNITION","difficulty":"BEGINNER","estimated_time_s":35,"lesson_id":"LS.IFRS18.000001","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000001","section_id":"rule-replaces"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 changes the criteria for recognising revenue: sales of Tolven SA are now attributed to the period according to the category in which they are presented.","es":""},"explanation":{"fr":"","en":"IFRS 18 classifies and presents income; it does not change the criteria for recognising it (IFRS 18).","es":""},"common_error":{"fr":"","en":"Believing that classification by category moves the timing of recognition.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000003","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.STRUCTURE.REPLACES_IAS1"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"LOGISTICS","tested_point":"FOUR_STATEMENTS_ON_POSITIONING","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS18.000001","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000001","section_id":"rule-replaces"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Spot the erroneous statements on the place of IFRS 18.","es":""},"explanation":{"fr":"","en":"IFRS 18 replaces IAS 1 from 2027, takes its general requirements into IAS 8 and does not touch measurement (IFRS 18).","es":""},"common_error":{"fr":"","en":"Seeing IFRS 18 as a layer added to IAS 1 or as an overhaul of measurement.","es":""},"format":"ERROR_SPOT","statements":[{"id":"s1","text":{"fr":"","en":"The general requirements of IAS 1 are for the most part taken up in the amended IAS 8.","es":""},"erroneous":false},{"id":"s2","text":{"fr":"","en":"IFRS 18 replaces IAS 1 for annual periods beginning on or after 1 January 2027.","es":""},"erroneous":false},{"id":"s3","text":{"fr":"","en":"IFRS 18 leaves IAS 1 in force and adds to it for listed entities only.","es":""},"erroneous":true,"correction":{"fr":"","en":"IFRS 18 replaces IAS 1; it does not add to it and is not limited to listed entities.","es":""}},{"id":"s4","text":{"fr":"","en":"IFRS 18 requires the carrying amount of all assets in the statement of financial position to be recalculated.","es":""},"erroneous":true,"correction":{"fr":"","en":"IFRS 18 does not touch measurement; the statement of financial position is little changed.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000004","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.STRUCTURE.STATEMENTS_STRUCTURE"],"dimension":"RECOGNITION","format":"MATCHING","context":"MEDIA","tested_point":"STATEMENT_BY_CHANGE","difficulty":"BEGINNER","estimated_time_s":70,"lesson_id":"LS.IFRS18.000001","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000001","section_id":"rule-statements"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Match each primary statement with its fate under IFRS 18.","es":""},"explanation":{"fr":"","en":"Only the statement of profit or loss is restructured; the statement of financial position is little changed, the statement of comprehensive income keeps its structure and the cash flow statement changes only through the consequential amendments to IAS 7 (IFRS 18).","es":""},"common_error":{"fr":"","en":"Extending the restructuring by categories to every statement.","es":""},"format":"MATCHING","left":[{"id":"l1","text":{"fr":"","en":"Statement of profit or loss","es":""}},{"id":"l2","text":{"fr":"","en":"Statement of financial position","es":""}},{"id":"l3","text":{"fr":"","en":"Statement of other comprehensive income","es":""}},{"id":"l4","text":{"fr":"","en":"Statement of cash flows","es":""}}],"right":[{"id":"r2","text":{"fr":"","en":"Little changed","es":""}},{"id":"r3","text":{"fr":"","en":"Structure unchanged from IAS 1","es":""}},{"id":"r4","text":{"fr":"","en":"Affected only by consequential amendments to IAS 7","es":""}},{"id":"r1","text":{"fr":"","en":"Restructured by categories with required subtotals","es":""}}],"pairs":[{"left":"l1","right":"r1"},{"left":"l2","right":"r2"},{"left":"l3","right":"r3"},{"left":"l4","right":"r4"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000005","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.STRUCTURE.REPLACES_IAS1","IFRS18.STRUCTURE.STATEMENTS_STRUCTURE"],"dimension":"APPLICATION","format":"MINI_CASE","context":"INDUSTRY","tested_point":"TRANSITION_MEMO_ORLANE","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS18.000001","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000001","section_id":"example"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Read the internal note of Sabrane SA and answer.","es":""},"explanation":{"fr":"","en":"The note is accurate except for inventories: IFRS 18 replaces IAS 1, restructures the statement of profit or loss and leaves measurement to the other standards (IFRS 18).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Sabrane SA, a distribution group, drafts a note to its audit committee before applying IFRS 18. It writes that the standard replaces IAS 1, that the income statement will be reclassified by categories, that the balance sheet and the statement of changes in equity change little and that, for inventories, \"the measurement method will have to be re-examined\".","es":""},"parts":[{"prompt":{"fr":"","en":"Which sentence of the note is contrary to the purpose of IFRS 18?","es":""},"explanation":{"fr":"","en":"Measurement of inventories is not within IFRS 18, which deals with presentation (IFRS 18).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"\"For inventories, the measurement method will have to be re-examined.\"","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"\"The standard replaces IAS 1.\"","es":""},"correct":false,"feedback":{"fr":"","en":"This sentence is accurate: IFRS 18 replaces IAS 1.","es":""}},{"id":"C","text":{"fr":"","en":"\"The income statement will be reclassified by categories.\"","es":""},"correct":false,"feedback":{"fr":"","en":"This sentence is accurate: the statement of profit or loss is restructured by categories.","es":""}},{"id":"D","text":{"fr":"","en":"\"The balance sheet changes little.\"","es":""},"correct":false,"feedback":{"fr":"","en":"This sentence is accurate: the statement of financial position is little changed.","es":""}}],"id":"p1","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"According to the note, Sabrane's statement of changes in equity is the statement most affected by IFRS 18.","es":""},"explanation":{"fr":"","en":"The note says the opposite: the statement of changes in equity changes little; the most affected statement is the statement of profit or loss (IFRS 18).","es":""},"common_error":{"fr":"","en":"Misreading the note: the most affected statement is profit or loss, not the statement of changes in equity.","es":""},"format":"TRUE_FALSE","answer":false,"id":"p2","dimension":"RECOGNITION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000006","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.FIVE_CATEGORIES"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"INDUSTRY","tested_point":"FIVE_CATEGORIES_LIST","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IFRS18.000002","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000002","section_id":"rule-five"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Which list sets out exactly the five categories of the statement of profit or loss under IFRS 18?","es":""},"explanation":{"fr":"","en":"Rule to remember: five categories: operating, investing, financing, income taxes, discontinued operations (IFRS 18).","es":""},"common_error":{"fr":"","en":"Adding an \"exceptional\" category or omitting discontinued operations.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Operating, investing, financing, income taxes, discontinued operations","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Operating, financing, exceptional, income taxes, discontinued operations","es":""},"correct":false,"feedback":{"fr":"","en":"There is no exceptional category; the investing category is missing (IFRS 18).","es":""}},{"id":"C","text":{"fr":"","en":"Operating, investing, financing, income taxes, equity","es":""},"correct":false,"feedback":{"fr":"","en":"Equity is not a category of income and expenses; discontinued operations are missing (IFRS 18).","es":""}},{"id":"D","text":{"fr":"","en":"Operating, investing, financing, income taxes only (four categories)","es":""},"correct":false,"feedback":{"fr":"","en":"Discontinued operations form the fifth category (IFRS 18).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000007","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.FIVE_CATEGORIES"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"RETAIL","tested_point":"NO_EXCEPTIONAL_CATEGORY","difficulty":"BEGINNER","estimated_time_s":35,"lesson_id":"LS.IFRS18.000002","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000002","section_id":"rule-five"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Brovane SA records a one-off restructuring charge. It presents it in a separate \"exceptional items\" category, placed below operating profit.","es":""},"explanation":{"fr":"","en":"The expense goes into one of the five categories, according to its nature; a restructuring charge of operating origin is operating (IFRS 18).","es":""},"common_error":{"fr":"","en":"Reserving a compartment for items that do not recur.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000008","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.FIVE_CATEGORIES"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"CONSUMER","tested_point":"CLASSIFY_SIX_LINES","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS18.000002","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000002","section_id":"rule-five"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Classify each line of Vorelle SA into its category (case data: the natures are indicated).","es":""},"explanation":{"fr":"","en":"Each line follows its nature: sales and salaries by default in operating, associate in investing, bonds in financing, tax in its own category, the sold business in discontinued operations (IFRS 18).","es":""},"common_error":{"fr":"","en":"Putting the share of the associate in the operating category.","es":""},"format":"CLASSIFICATION","categories":[{"id":"c1","text":{"fr":"","en":"Operating","es":""}},{"id":"c2","text":{"fr":"","en":"Investing","es":""}},{"id":"c3","text":{"fr":"","en":"Financing","es":""}},{"id":"c4","text":{"fr":"","en":"Income taxes","es":""}},{"id":"c5","text":{"fr":"","en":"Discontinued operations","es":""}}],"items":[{"id":"i1","text":{"fr":"","en":"Sales of clothing to customers","es":""},"category":"c1"},{"id":"i2","text":{"fr":"","en":"Salaries of in-store sales staff","es":""},"category":"c1"},{"id":"i3","text":{"fr":"","en":"Share of profit of an associate accounted for by the equity method","es":""},"category":"c2"},{"id":"i4","text":{"fr":"","en":"Interest on a bond issue","es":""},"category":"c3"},{"id":"i5","text":{"fr":"","en":"Current income tax expense for the period","es":""},"category":"c4"},{"id":"i6","text":{"fr":"","en":"Net result of a chain of stores sold, meeting the IFRS 5 definition","es":""},"category":"c5"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000009","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.OPERATING"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"ENERGY","tested_point":"DEFAULT_CATEGORY_MEANING","difficulty":"BEGINNER","estimated_time_s":60,"lesson_id":"LS.IFRS18.000002","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000002","section_id":"rule-operating"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"An expense of Kalvane SA clearly fits neither investing, nor financing, nor taxes, nor discontinued operations. What should be done?","es":""},"explanation":{"fr":"","en":"Rule to remember: the operating category is the default category (IFRS 18).","es":""},"common_error":{"fr":"","en":"Leaving an item that fits nowhere else without a category.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Leave it outside the statement of profit or loss until a category receives it","es":""},"correct":false,"feedback":{"fr":"","en":"Every expense in the statement of profit or loss is classified in a category; the default category receives it (IFRS 18).","es":""}},{"id":"B","text":{"fr":"","en":"Spread it equally across the other four categories","es":""},"correct":false,"feedback":{"fr":"","en":"An item is classified in a single category, according to its nature (IFRS 18).","es":""}},{"id":"C","text":{"fr":"","en":"Classify it in the operating category, which receives items not classified elsewhere","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Create an ad hoc category for this one-off expense","es":""},"correct":false,"feedback":{"fr":"","en":"The five categories are fixed; no ad hoc category exists (IFRS 18).","es":""}}]},"scope":"CORE_STUDENT","reserve":true},{"key":"LX.IFRS18.000010","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.OPERATING"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"AUTOMOTIVE","tested_point":"NON_RECURRING_STAYS_OPERATING","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS18.000002","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000002","section_id":"rule-operating"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Pelvane SA, an automotive supplier, recognises an impairment loss of €374,000 on a press in its plant, after a lasting breakdown (case data). Management wishes to isolate it \"below operating profit\". Which position is consistent with IFRS 18?","es":""},"explanation":{"fr":"","en":"Rule to remember: a volatile or non-recurring item arising from operating activities stays operating (IFRS 18).","es":""},"common_error":{"fr":"","en":"Excluding a non-recurring item from operating profit for presentation's sake.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It can leave operating profit as long as management judges it unusual","es":""},"correct":false,"feedback":{"fr":"","en":"An unusual nature is not enough to take an operating item out of the category (IFRS 18).","es":""}},{"id":"B","text":{"fr":"","en":"It goes to financing, because it reduces the value of an asset financed by a loan","es":""},"correct":false,"feedback":{"fr":"","en":"How the asset is financed does not change the nature of the impairment loss (IFRS 18).","es":""}},{"id":"C","text":{"fr":"","en":"It goes to investing, because the equipment is a long-term asset","es":""},"correct":false,"feedback":{"fr":"","en":"Production equipment is not an asset that earns a return independently of other resources (IFRS 18).","es":""}},{"id":"D","text":{"fr":"","en":"It arises from operations: it stays operating, even if it is one-off","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000011","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.OPERATING"],"dimension":"CALCULATION","format":"CALCULATION","context":"FOOD","tested_point":"OPERATING_TOTAL_FROM_CLASSIFIED","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS18.000002","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000002","section_id":"numeric-operating"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Case data: Dumelle SA has classified its lines for the period. Calculate the total of its operating category (expenses are given as negatives; lines of another category are excluded).","es":""},"explanation":{"fr":"","en":"€6,930,000 − €3,410,000 − €1,925,000 − €451,000 − €242,000 = €902,000; the interest and the tax belong to other categories and the restructuring, non-recurring, stays in the operating category (IFRS 18).","es":""},"common_error":{"fr":"","en":"Leaving the restructuring out of the total because it will not recur.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Revenue (operating)","es":""},"value":"6930000","unit":"EUR"},{"label":{"fr":"","en":"Purchases consumed (operating)","es":""},"value":"-3410000","unit":"EUR"},{"label":{"fr":"","en":"Staff costs (operating)","es":""},"value":"-1925000","unit":"EUR"},{"label":{"fr":"","en":"Depreciation (operating)","es":""},"value":"-451000","unit":"EUR"},{"label":{"fr":"","en":"Non-recurring restructuring expense (operating)","es":""},"value":"-242000","unit":"EUR"},{"label":{"fr":"","en":"Interest on a bank loan (financing)","es":""},"value":"-104500","unit":"EUR"},{"label":{"fr":"","en":"Income tax expense (income taxes)","es":""},"value":"-198000","unit":"EUR"}],"steps":[{"id":"s1","label":{"fr":"","en":"Total of the operating category","es":""},"answer":902000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000012","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.FIVE_CATEGORIES","IFRS18.CATEGORIES.OPERATING"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"SERVICES","tested_point":"MISCLASSIFICATION_SPOTTING","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS18.000002","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000002","section_id":"judgment"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Spot the erroneous statements on the categories.","es":""},"explanation":{"fr":"","en":"Categories are determined by the nature of the item, and the operating category also receives the non-recurring (IFRS 18).","es":""},"common_error":{"fr":"","en":"Making the operating category a \"normal\" result without one-off items.","es":""},"format":"ERROR_SPOT","statements":[{"id":"s1","text":{"fr":"","en":"Management freely chooses the category of each line to present the operating profit it wants.","es":""},"erroneous":true,"correction":{"fr":"","en":"Classification follows the nature of the item, not the wish for presentation (IFRS 18).","es":""}},{"id":"s2","text":{"fr":"","en":"Each item of income or expense in the statement of profit or loss is classified in a single category.","es":""},"erroneous":false},{"id":"s3","text":{"fr":"","en":"The operating category is that of \"current\" items; expenses that do not recur are excluded from it.","es":""},"erroneous":true,"correction":{"fr":"","en":"Volatile or non-recurring items arising from operating activities are included in it (IFRS 18).","es":""}},{"id":"s4","text":{"fr":"","en":"A one-off item of operating origin can be classified in the operating category.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000013","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.INVESTING"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"MANUFACTURING","tested_point":"EQUITY_METHOD_ALWAYS_INVESTING","difficulty":"BEGINNER","estimated_time_s":40,"lesson_id":"LS.IFRS18.000003","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000003","section_id":"rule-investing"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Tolmane SA, with no specified main business activity, holds 35% of an associate that supplies components to its plant. Because this associate is strategic for the business, its share of profit is classified in the operating category.","es":""},"explanation":{"fr":"","en":"The income and expenses of equity-accounted entities are classified in investing for an entity with no specified main business activity, strategic or not (IFRS 18).","es":""},"common_error":{"fr":"","en":"Making the category depend on the strategic nature of the associate.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000014","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.INVESTING"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"DISTRIBUTION","tested_point":"INVESTING_VS_OPERATING_ITEMS","difficulty":"INTERMEDIATE","estimated_time_s":100,"lesson_id":"LS.IFRS18.000003","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000003","section_id":"rule-investing"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Classify each income item of Garvelle SA, an entity without a specified main business activity, as investing or operating (case data: natures indicated).","es":""},"explanation":{"fr":"","en":"Only the returns on assets that earn independently (cash equivalents, joint venture) go to investing; operating income, including the sale of an operating truck, stays operating (IFRS 18).","es":""},"common_error":{"fr":"","en":"Classifying every gain on disposal of an asset in investing.","es":""},"format":"CLASSIFICATION","categories":[{"id":"c1","text":{"fr":"","en":"Investing","es":""}},{"id":"c2","text":{"fr":"","en":"Operating","es":""}}],"items":[{"id":"i1","text":{"fr":"","en":"Interest on cash equivalents held to place surplus cash","es":""},"category":"c1"},{"id":"i2","text":{"fr":"","en":"Share of profit of a joint venture accounted for by the equity method","es":""},"category":"c1"},{"id":"i3","text":{"fr":"","en":"Sales of goods to customers","es":""},"category":"c2"},{"id":"i4","text":{"fr":"","en":"Gain on the sale of a delivery truck used in operations","es":""},"category":"c2"},{"id":"i5","text":{"fr":"","en":"Income from re-invoicing transport costs to customers","es":""},"category":"c2"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000015","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.INVESTING"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"RETAIL","tested_point":"RECLASS_CASH_INTEREST_TO_INVESTING","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS18.000003","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000003","section_id":"entry-reclass"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Case convention (presentation entry): Lavrane SA recorded €56,000 of interest on cash equivalents in operating income. Post the entry that reclassifies it to investing income (profit for the period is unchanged).","es":""},"explanation":{"fr":"","en":"Operating income decreases (debit) by €56,000 and investing income increases (credit) by the same amount; profit for the period does not change (IFRS 18).","es":""},"common_error":{"fr":"","en":"Reversing the direction: crediting operating income.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"opinc","text":{"fr":"","en":"Operating income","es":""}},{"id":"invinc","text":{"fr":"","en":"Investing income","es":""}},{"id":"opexp","text":{"fr":"","en":"Operating expense","es":""}},{"id":"finexp","text":{"fr":"","en":"Financing expense","es":""}}],"lines":[{"id":"l1","account":"opinc","side":"DEBIT","amount":56000,"given":["account","side"]},{"id":"l2","account":"invinc","side":"CREDIT","amount":56000,"given":["account","side"]}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000016","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.FINANCING"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"CONSTRUCTION","tested_point":"BANK_LOAN_INTEREST_FINANCING","difficulty":"BEGINNER","estimated_time_s":35,"lesson_id":"LS.IFRS18.000003","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000003","section_id":"rule-financing"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"The interest on a bank loan taken out by Hovrane SA to raise funds is classified in the financing category.","es":""},"explanation":{"fr":"","en":"A bank loan is a liability arising from a pure finance-raising transaction (IFRS 18).","es":""},"common_error":{"fr":"","en":"Leaving loan interest in operating expenses.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000017","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.FINANCING"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"SERVICES","tested_point":"FINANCING_LIABILITY_TEST","difficulty":"BEGINNER","estimated_time_s":60,"lesson_id":"LS.IFRS18.000003","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000003","section_id":"rule-financing"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Complete the rule on the financing category.","es":""},"explanation":{"fr":"","en":"Financing is defined by the liability arising from a pure fund-raising; the other income and expenses of another liability follow the general rules, so by default operating (IFRS 18).","es":""},"common_error":{"fr":"","en":"Extending financing to every interest-bearing liability.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"The financing category receives the income and expenses of liabilities arising {{origine}}; the {{autres}} of a liability that is not a financing liability follow the general rules.","es":""},"blanks":[{"id":"origine","mode":"CHOICE","choices":[{"id":"c1","text":{"fr":"","en":"only from transactions raising finance","es":""}},{"id":"c2","text":{"fr":"","en":"from any transaction generating interest","es":""}},{"id":"c3","text":{"fr":"","en":"from all contracts concluded with a bank","es":""}}],"answer":"c1"},{"id":"autres","mode":"CHOICE","choices":[{"id":"c1","text":{"fr":"","en":"other income and expenses","es":""}},{"id":"c2","text":{"fr":"","en":"default interest","es":""}},{"id":"c3","text":{"fr":"","en":"interest of every kind","es":""}}],"answer":"c1"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000018","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.FINANCING"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"ENERGY","tested_point":"RECLASS_UNWINDING_TO_FINANCING","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS18.000003","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000003","section_id":"entry-reclass"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Case convention (presentation entry): Mavrane SA recorded €31,000 of unwinding of the discount on a decommissioning provision in operating expenses. Post the entry that reclassifies it to financing expenses (profit for the period is unchanged).","es":""},"explanation":{"fr":"","en":"Financing expense increases (debit) by €31,000 and operating expense decreases (credit) by the same amount: operating profit rises, profit for the period does not change (IFRS 18).","es":""},"common_error":{"fr":"","en":"Debiting operating expense instead of financing expense.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"finexp","text":{"fr":"","en":"Financing expense","es":""}},{"id":"opexp","text":{"fr":"","en":"Operating expense","es":""}},{"id":"invinc","text":{"fr":"","en":"Investing income","es":""}},{"id":"opinc","text":{"fr":"","en":"Operating income","es":""}}],"lines":[{"id":"l1","account":"finexp","side":"DEBIT","amount":31000,"given":["account","side"]},{"id":"l2","account":"opexp","side":"CREDIT","amount":31000,"given":["account","side"]}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000019","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.INVESTING","IFRS18.CATEGORIES.FINANCING"],"dimension":"APPLICATION","format":"MINI_CASE","context":"TELECOM","tested_point":"INVEST_FINANCE_FOUR_LINES","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS18.000003","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000003","section_id":"judgment"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Read the facts of Zelvane SA and answer.","es":""},"explanation":{"fr":"","en":"Investing: lines (1) and (3); financing: lines (2) and (4), that is a €246,400 net expense (IFRS 18).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Zelvane SA, a telecommunications operator with no specified main business activity, has four lines to classify for the period: (1) €19,800 of interest on its cash equivalents; (2) €231,000 of interest on a bank loan taken out to raise funds; (3) a €82,500 share of the profit of a joint venture accounted for by the equity method; (4) €15,400 of unwinding of the discount on a provision for dismantling masts.","es":""},"parts":[{"prompt":{"fr":"","en":"Which lines are classified in the investing category?","es":""},"explanation":{"fr":"","en":"Cash equivalents and the joint venture earn independently: investing (IFRS 18).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Line (2): interest on the bank loan","es":""},"correct":false,"feedback":{"fr":"","en":"These are interest on a fund-raising liability: financing (IFRS 18).","es":""}},{"id":"B","text":{"fr":"","en":"Line (1): interest on cash equivalents","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Line (4): unwinding of the decommissioning","es":""},"correct":false,"feedback":{"fr":"","en":"The unwinding of a decommissioning provision belongs to financing (IFRS 18).","es":""}},{"id":"D","text":{"fr":"","en":"Line (3): share of the joint venture","es":""},"correct":true}],"id":"p1","dimension":"RECOGNITION"},{"prompt":{"fr":"","en":"Calculate Zelvane's net financing expense.","es":""},"explanation":{"fr":"","en":"€231,000 + €15,400 = €246,400 (IFRS 18).","es":""},"common_error":{"fr":"","en":"Leaving out the unwinding of the decommissioning provision: it is part of financing expense with the interest.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Interest on the bank loan","es":""},"value":"231000","unit":"EUR"},{"label":{"fr":"","en":"Unwinding of the decommissioning","es":""},"value":"15400","unit":"EUR"}],"steps":[{"id":"s1","label":{"fr":"","en":"Net financing expense","es":""},"answer":246400,"tolerance":0,"unit":"EUR"}],"id":"p2","dimension":"CALCULATION","formula":{"lines":[{"step":"s1","meaning":{"fr":"","en":"Net financing expense","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Interest on the bank loan","es":""},"value":231000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Unwinding of the decommissioning","es":""},"value":15400,"unit":"EUR"}],"result":246400,"unit":"EUR"}],"rationale":{"fr":"","en":"€231,000 + €15,400 = €246,400 (IFRS 18).","es":""},"references":["REF.IFRS18.INVESTING.CATEGORY","REF.IFRS18.FINANCING.CATEGORY"]}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000020","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.TAXES_AND_DISCONTINUED"],"dimension":"RULE_KNOWLEDGE","format":"MATCHING","context":"MANUFACTURING","tested_point":"TAX_AND_DISCONTINUED_LINK","difficulty":"BEGINNER","estimated_time_s":60,"lesson_id":"LS.IFRS18.000004","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000004","section_id":"rule-tax-disc"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Match each IFRS 18 category with the standard whose items it takes up.","es":""},"explanation":{"fr":"","en":"Each category takes up the items of the standard that defines them; exchange differences come from IAS 21 and follow the originating item (IFRS 18).","es":""},"common_error":{"fr":"","en":"Linking discontinued operations to IAS 12.","es":""},"format":"MATCHING","left":[{"id":"l1","text":{"fr":"","en":"Income taxes","es":""}},{"id":"l2","text":{"fr":"","en":"Discontinued operations","es":""}},{"id":"l3","text":{"fr":"","en":"Foreign exchange differences","es":""}}],"right":[{"id":"r2","text":{"fr":"","en":"IFRS 5","es":""}},{"id":"r3","text":{"fr":"","en":"IAS 21","es":""}},{"id":"r1","text":{"fr":"","en":"IAS 12","es":""}}],"pairs":[{"left":"l1","right":"r1"},{"left":"l2","right":"r2"},{"left":"l3","right":"r3"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000021","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.TAXES_AND_DISCONTINUED"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"CONSTRUCTION","tested_point":"NON_INCOME_TAX_NOT_IN_TAX_CATEGORY","difficulty":"INTERMEDIATE","estimated_time_s":100,"lesson_id":"LS.IFRS18.000004","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000004","section_id":"rule-tax-disc"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Belmare SA's accounts show: (a) income tax expense of €273,000, (b) property tax of €45,500, (c) after-tax result of a plant sold (IFRS 5) of −€78,000. Which classification is correct?","es":""},"explanation":{"fr":"","en":"Rule to remember: only the income taxes of IAS 12 belong in their category; property tax follows the general rules (IFRS 18).","es":""},"common_error":{"fr":"","en":"Putting every tax in the income taxes category.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"(a) income taxes; (b) general rules, so operating; (c) discontinued operations","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"(a) and (b) income taxes; (c) discontinued operations","es":""},"correct":false,"feedback":{"fr":"","en":"Property tax is not an income tax (IFRS 18).","es":""}},{"id":"C","text":{"fr":"","en":"(a) income taxes; (b) income taxes; (c) operating","es":""},"correct":false,"feedback":{"fr":"","en":"The result of a plant sold belongs to the IFRS 5 discontinued operations, and property tax is not an income tax (IFRS 18).","es":""}},{"id":"D","text":{"fr":"","en":"(a) operating; (b) operating; (c) discontinued operations","es":""},"correct":false,"feedback":{"fr":"","en":"Income tax on profits belongs to the IAS 12 income taxes category (IFRS 18).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000022","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.FX_DIFFERENCES"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"RETAIL","tested_point":"FX_FOLLOWS_ORIGINATING_ITEM","difficulty":"BEGINNER","estimated_time_s":90,"lesson_id":"LS.IFRS18.000004","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000004","section_id":"rule-fx"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Classify each exchange difference of Nolvane SA according to the category of the item that gave rise to it.","es":""},"explanation":{"fr":"","en":"Each difference takes the category of its originating item: trade payable and receivable in operating, pure financing loan in financing, cash investment in investing (IFRS 18).","es":""},"common_error":{"fr":"","en":"Putting all exchange differences in one category.","es":""},"format":"CLASSIFICATION","categories":[{"id":"c1","text":{"fr":"","en":"Operating","es":""}},{"id":"c2","text":{"fr":"","en":"Financing","es":""}},{"id":"c3","text":{"fr":"","en":"Investing","es":""}}],"items":[{"id":"i1","text":{"fr":"","en":"Loss on a trade payable in pounds sterling","es":""},"category":"c1"},{"id":"i2","text":{"fr":"","en":"Gain on a trade receivable in dollars","es":""},"category":"c1"},{"id":"i3","text":{"fr":"","en":"Loss on a Swiss franc bank loan taken out to raise funds","es":""},"category":"c2"},{"id":"i4","text":{"fr":"","en":"Gain on a cash deposit placed in dollars","es":""},"category":"c3"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000023","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.FX_DIFFERENCES"],"dimension":"CALCULATION","format":"CALCULATION","context":"LOGISTICS","tested_point":"FX_EFFECT_ON_CATEGORIES","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS18.000004","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000004","section_id":"numeric-fx"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Case data: Orvelle SA has, for the period, an exchange loss of €41,800 on dollar trade payables, an exchange gain of €13,200 on dollar trade receivables and an exchange loss of €31,900 on a dollar loan raising pure finance. Calculate the net effect of the differences on operating profit and on the financing category (signed values).","es":""},"explanation":{"fr":"","en":"Operating: −€41,800 + €13,200 = −€28,600; financing: −€31,900 (the loan) (IFRS 18).","es":""},"common_error":{"fr":"","en":"Classifying the loss on the loan with the operating differences.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Loss on trade payables","es":""},"value":"-41800","unit":"EUR"},{"label":{"fr":"","en":"Gain on trade receivables","es":""},"value":"13200","unit":"EUR"},{"label":{"fr":"","en":"Loss on the pure financing loan","es":""},"value":"-31900","unit":"EUR"}],"steps":[{"id":"s1","label":{"fr":"","en":"Net effect on operating profit","es":""},"answer":-28600,"tolerance":0,"unit":"EUR"},{"id":"s2","label":{"fr":"","en":"Effect on the financing category","es":""},"answer":-31900,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"s1","meaning":{"fr":"","en":"Net effect on operating profit","es":""},"expression":"-a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"an exchange loss of €41,800 on dollar trade payables","es":""},"value":41800,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Gain on trade receivables","es":""},"value":13200,"unit":"EUR"}],"result":-28600,"unit":"EUR"}],"references":["REF.IFRS18.FX.CLASSIFICATION"]}},"scope":"CORE_STUDENT","reserve":true},{"key":"LX.IFRS18.000024","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.FX_DIFFERENCES"],"dimension":"PROFESSIONAL_JUDGMENT","format":"SINGLE_CHOICE","context":"DISTRIBUTION","tested_point":"FX_UNDUE_EFFORT_EXCEPTION","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS18.000004","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000004","section_id":"judgment"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Hallane SA has 800 foreign-currency balances whose originating item is hard to trace in its old system. It considers invoking the undue cost or effort exception. Which approach is consistent with the rule?","es":""},"explanation":{"fr":"","en":"Rule to remember: the undue cost or effort exception is a judgement that is justified and documented (the case's fallback category is a case convention) (IFRS 18).","es":""},"common_error":{"fr":"","en":"Treating the exception as a convenience choice.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Document the disproportionate effort, then apply the case's fallback category","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Invoke the exception automatically, since the originating-item rule is a mere option","es":""},"correct":false,"feedback":{"fr":"","en":"The exception presupposes a truly undue cost or effort, assessed and justified (IFRS 18).","es":""}},{"id":"C","text":{"fr":"","en":"Leave the differences outside the statement of profit or loss until the system is replaced","es":""},"correct":false,"feedback":{"fr":"","en":"Every exchange difference is classified in a category of the statement of profit or loss (IFRS 18).","es":""}},{"id":"D","text":{"fr":"","en":"Classify all differences in financing, out of prudence, without particular documentation","es":""},"correct":false,"feedback":{"fr":"","en":"The choice must be justified and documented, not adopted by reflex (IFRS 18).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000025","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.DERIVATIVES_HEDGING"],"dimension":"ANALYSIS","format":"MINI_CASE","context":"ENERGY","tested_point":"HEDGE_OF_FX_LOAN_WITH_LOAN_DIFFERENCES","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IFRS18.000004","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000004","section_id":"rule-derivatives"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Read the facts of Quelvane SA and answer.","es":""},"explanation":{"fr":"","en":"Under IFRS 18 (para. B70), the swap follows the hedged bond: the hedge leaves only −€5,500 of net exchange in financing, that is −€159,500 with the interest.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Quelvane SA issued a dollar bond that raises pure finance. It hedged it with a currency swap designated as a hedging instrument of the bond's exchange risk. For the period (case data): exchange loss on the bond of €99,000; fair value gain on the swap of €93,500; interest on the bond of €154,000. The swap manages only the exchange risk on the bond (case data).","es":""},"parts":[{"prompt":{"fr":"","en":"Under IFRS 18, in which category is the fair value gain on the swap classified?","es":""},"explanation":{"fr":"","en":"Rule: the result of a designated hedging instrument follows the category of the income and expenses affected by the risk managed, unless grossing up would be needed (IFRS 18, para. B70).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Investing, a swap being a separate financial asset","es":""},"correct":false,"feedback":{"fr":"","en":"The hedging derivative follows the category of the items affected by the risk managed, not its nature as an asset (IFRS 18, para. B70).","es":""}},{"id":"B","text":{"fr":"","en":"Financing, with the exchange difference on the hedged bond","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Operating, since derivatives belong by default to operations","es":""},"correct":false,"feedback":{"fr":"","en":"Here the hedged item is a pure financing loan.","es":""}},{"id":"D","text":{"fr":"","en":"In a \"hedges\" category separate from the five categories","es":""},"correct":false,"feedback":{"fr":"","en":"There are only five categories (IFRS 18).","es":""}}],"id":"p1","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"Calculate the net effect of the exchange loss and the swap on the financing category, then the total financing expense with the interest (signed values).","es":""},"explanation":{"fr":"","en":"−€99,000 + €93,500 = −€5,500; −€5,500 − €154,000 = −€159,500.","es":""},"common_error":{"fr":"","en":"Adding amounts without their signs: the swap gain partly offsets the exchange loss.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Exchange loss on the bond","es":""},"value":"-99000","unit":"EUR"},{"label":{"fr":"","en":"Fair value gain on the swap","es":""},"value":"93500","unit":"EUR"},{"label":{"fr":"","en":"Interest on the bond","es":""},"value":"-154000","unit":"EUR"}],"steps":[{"id":"s1","label":{"fr":"","en":"Net effect of exchange and swap","es":""},"answer":-5500,"tolerance":0,"unit":"EUR"},{"id":"s2","label":{"fr":"","en":"Total financing expense","es":""},"answer":-159500,"tolerance":0,"unit":"EUR"}],"id":"p2","dimension":"CALCULATION","formula":{"lines":[{"step":"s1","meaning":{"fr":"","en":"Net effect of exchange and swap","es":""},"expression":"-a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"exchange loss on the bond of €99,000","es":""},"value":99000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Fair value gain on the swap","es":""},"value":93500,"unit":"EUR"}],"result":-5500,"unit":"EUR"}],"references":["REF.IFRS18.FX.CLASSIFICATION","REF.IFRS18.DERIVATIVES.CLASSIFICATION"]}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000026","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.DERIVATIVES_HEDGING"],"dimension":"PROFESSIONAL_JUDGMENT","format":"SINGLE_CHOICE","context":"AUTOMOTIVE","tested_point":"HEDGE_OF_SALES_RISK_FOLLOWS_RISK","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IFRS18.000004","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000004","section_id":"judgment"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Rovelle SA, an automotive supplier, sells in dollars and hedges its future sales with currency forward contracts designated as hedges (risk managed: exchange on sales). For the period, the contracts show a fair value loss of €70,400. Under IFRS 18 (the result of a designated hedging instrument follows the category affected by the risk managed), which classification is correct?","es":""},"explanation":{"fr":"","en":"Rule: the result of the hedging instrument follows the category affected by the risk managed, here operating (IFRS 18, para. B70).","es":""},"common_error":{"fr":"","en":"Classifying the derivative by its nature as a financial instrument.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Financing, because every currency derivative is a treasury instrument","es":""},"correct":false,"feedback":{"fr":"","en":"The category follows the risk managed, here sales, not the nature of the derivative (IFRS 18, para. B70).","es":""}},{"id":"B","text":{"fr":"","en":"Investing, because a derivative is an asset that varies independently of operations","es":""},"correct":false,"feedback":{"fr":"","en":"The hedging derivative is not classified in isolation from the items affected by the risk managed (IFRS 18, para. B70).","es":""}},{"id":"C","text":{"fr":"","en":"Operating, because the risk managed relates to sales, an operating item","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"A separate category, the loss being unrealised","es":""},"correct":false,"feedback":{"fr":"","en":"Realised or not, the gain or loss falls in one of the five categories (IFRS 18).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000029","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.SUBTOTALS.OPERATING_PROFIT"],"dimension":"RECOGNITION","format":"SINGLE_CHOICE","context":"MANUFACTURING","tested_point":"OPERATING_PROFIT_CONTENT","difficulty":"BEGINNER","estimated_time_s":55,"lesson_id":"LS.IFRS18.000005","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000005","section_id":"rule-operating-profit"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"What does operating profit, the first required subtotal of the statement of profit or loss, contain?","es":""},"explanation":{"fr":"","en":"Rule to remember: operating profit is the total of the operating category (IFRS 18).","es":""},"common_error":{"fr":"","en":"Confusing operating profit with a result lower in the waterfall.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The total of the income and expenses of the operating and financing categories","es":""},"correct":false,"feedback":{"fr":"","en":"Financing comes after the two required subtotals (IFRS 18).","es":""}},{"id":"B","text":{"fr":"","en":"The total of the income and expenses of all categories except income taxes","es":""},"correct":false,"feedback":{"fr":"","en":"That total is closer to profit before tax; operating profit is limited to the operating category (IFRS 18).","es":""}},{"id":"C","text":{"fr":"","en":"The result of continuing operations, after income tax","es":""},"correct":false,"feedback":{"fr":"","en":"Operating profit is established before tax (IFRS 18).","es":""}},{"id":"D","text":{"fr":"","en":"The total of the income and expenses classified in the operating category","es":""},"correct":true}]},"scope":"CORE_STUDENT","reserve":true},{"key":"LX.IFRS18.000030","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.SUBTOTALS.OPERATING_PROFIT"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"RETAIL","tested_point":"ASSOCIATE_OUT_OF_OPERATING_PROFIT","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IFRS18.000005","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000005","section_id":"rule-operating-profit"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"A group may present in its operating profit the share of profit of its associates, as long as it indicates this clearly in the statement of profit or loss.","es":""},"explanation":{"fr":"","en":"The share of associates is classified in investing: it enters the second subtotal, not operating profit (IFRS 18).","es":""},"common_error":{"fr":"","en":"Freely choosing the content of operating profit.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000031","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.SUBTOTALS.OPERATING_PROFIT"],"dimension":"CALCULATION","format":"CALCULATION","context":"CONSUMER","tested_point":"OPERATING_PROFIT_BY_FUNCTION","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS18.000005","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000005","section_id":"numeric-chain"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Case data: Palvane SA presents its expenses by function. Calculate its operating profit (the investing and financing lines are given but are not part of it).","es":""},"explanation":{"fr":"","en":"€7,020,000 − €4,290,000 − €832,000 − €676,000 + €97,500 = €1,319,500; the associate and the interest are outside operating profit (IFRS 18).","es":""},"common_error":{"fr":"","en":"Adding the share of the associate or deducting the loan interest.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Revenue","es":""},"value":"7020000","unit":"EUR"},{"label":{"fr":"","en":"Cost of sales","es":""},"value":"-4290000","unit":"EUR"},{"label":{"fr":"","en":"Distribution costs","es":""},"value":"-832000","unit":"EUR"},{"label":{"fr":"","en":"Administrative expenses","es":""},"value":"-676000","unit":"EUR"},{"label":{"fr":"","en":"Other operating income","es":""},"value":"97500","unit":"EUR"},{"label":{"fr":"","en":"Share of the associate (investing)","es":""},"value":"62400","unit":"EUR"},{"label":{"fr":"","en":"Loan interest (financing)","es":""},"value":"-117000","unit":"EUR"}],"steps":[{"id":"s1","label":{"fr":"","en":"Operating profit","es":""},"answer":1319500,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000032","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.SUBTOTALS.PROFIT_BEFORE_FINANCING_AND_TAX"],"dimension":"RECOGNITION","format":"SINGLE_CHOICE","context":"ENERGY","tested_point":"PBFIT_COMPOSITION","difficulty":"INTERMEDIATE","estimated_time_s":70,"lesson_id":"LS.IFRS18.000005","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000005","section_id":"rule-pbfit"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Which formula gives profit before financing and income taxes?","es":""},"explanation":{"fr":"","en":"Rule to remember: profit before financing and income taxes = operating profit + investing (IFRS 18).","es":""},"common_error":{"fr":"","en":"Putting financing in the second subtotal.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Operating profit − financing expenses − income tax","es":""},"correct":false,"feedback":{"fr":"","en":"That gives a result after financing and tax, that is lower in the waterfall (IFRS 18).","es":""}},{"id":"B","text":{"fr":"","en":"Profit for the period + income tax + financing expenses","es":""},"correct":false,"feedback":{"fr":"","en":"That back-calculation ignores discontinued operations and the investing category (IFRS 18).","es":""}},{"id":"C","text":{"fr":"","en":"Operating profit + investing income and expenses","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Operating total + financing total, investing being excluded","es":""},"correct":false,"feedback":{"fr":"","en":"It is investing that is added, not financing (IFRS 18).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000033","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.SUBTOTALS.PROFIT_BEFORE_FINANCING_AND_TAX"],"dimension":"CALCULATION","format":"CALCULATION","context":"FOOD","tested_point":"PBFIT_FROM_OPERATING_PROFIT","difficulty":"INTERMEDIATE","estimated_time_s":140,"lesson_id":"LS.IFRS18.000005","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000005","section_id":"numeric-chain"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Case data: Gorvane SA has operating profit of €1,232,000, cash interest of €30,800, a joint venture share of €72,600 and loan expenses of €165,000. Calculate the investing category total and then profit before financing and income taxes.","es":""},"explanation":{"fr":"","en":"€30,800 + €72,600 = €103,400; €1,232,000 + €103,400 = €1,335,400; the loan expenses come after (IFRS 18).","es":""},"common_error":{"fr":"","en":"Deducting the loan expenses from this subtotal.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Operating profit","es":""},"value":"1232000","unit":"EUR"},{"label":{"fr":"","en":"Cash interest (investing)","es":""},"value":"30800","unit":"EUR"},{"label":{"fr":"","en":"Share of the joint venture (investing)","es":""},"value":"72600","unit":"EUR"},{"label":{"fr":"","en":"Loan expenses (financing)","es":""},"value":"-165000","unit":"EUR"}],"steps":[{"id":"s1","label":{"fr":"","en":"Investing category total","es":""},"answer":103400,"tolerance":0,"unit":"EUR"},{"id":"s2","label":{"fr":"","en":"Profit before financing and income taxes","es":""},"answer":1335400,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"s1","meaning":{"fr":"","en":"Investing category total","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cash interest (investing)","es":""},"value":30800,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Share of the joint venture (investing)","es":""},"value":72600,"unit":"EUR"}],"result":103400,"unit":"EUR"},{"step":"s2","meaning":{"fr":"","en":"Profit before financing and income taxes","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Operating profit","es":""},"value":1232000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Investing category total","es":""},"value":103400,"unit":"EUR"}],"result":1335400,"unit":"EUR"}],"references":["REF.IFRS18.SUBTOTALS"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000034","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.SUBTOTALS.PROFIT_ROLL_DOWN"],"dimension":"RULE_KNOWLEDGE","format":"ORDERING","context":"SERVICES","tested_point":"ROLL_DOWN_ORDER","difficulty":"BEGINNER","estimated_time_s":70,"lesson_id":"LS.IFRS18.000005","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000005","section_id":"rule-rolldown"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Put in order the operations that lead from profit before financing and income taxes to profit for the period.","es":""},"explanation":{"fr":"","en":"Financing, then tax, then discontinued operations: the chain ends on profit for the period (IFRS 18).","es":""},"common_error":{"fr":"","en":"Adding discontinued operations before tax.","es":""},"format":"ORDERING","steps":[{"id":"s1","text":{"fr":"","en":"Start from profit before financing and income taxes","es":""}},{"id":"s2","text":{"fr":"","en":"Deduct the net financing expenses","es":""}},{"id":"s3","text":{"fr":"","en":"Deduct the income tax expense","es":""}},{"id":"s4","text":{"fr":"","en":"Add the result of discontinued operations","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000035","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.SUBTOTALS.PROFIT_ROLL_DOWN"],"dimension":"CALCULATION","format":"CALCULATION","context":"AUTOMOTIVE","tested_point":"ROLL_DOWN_CALC","difficulty":"INTERMEDIATE","estimated_time_s":200,"lesson_id":"LS.IFRS18.000005","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000005","section_id":"numeric-chain"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Case data: Selvane SA has profit before financing and income taxes of €2,990,000, net financing expenses of €338,000, an income tax expense of €663,000 and an after-tax result from a discontinued operation of −€117,000. Calculate profit before tax, then profit for the period.","es":""},"explanation":{"fr":"","en":"€2,990,000 − €338,000 = €2,652,000; €2,652,000 − €663,000 − €117,000 = €1,872,000 (IFRS 18).","es":""},"common_error":{"fr":"","en":"Forgetting the tax or the discontinued operation.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Profit before financing and income taxes","es":""},"value":"2990000","unit":"EUR"},{"label":{"fr":"","en":"Net financing expenses","es":""},"value":"338000","unit":"EUR"},{"label":{"fr":"","en":"Income tax expense","es":""},"value":"663000","unit":"EUR"},{"label":{"fr":"","en":"Discontinued operation, after tax","es":""},"value":"-117000","unit":"EUR"}],"steps":[{"id":"s1","label":{"fr":"","en":"Profit before tax","es":""},"answer":2652000,"tolerance":0,"unit":"EUR"},{"id":"s2","label":{"fr":"","en":"Profit for the period","es":""},"answer":1872000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"s1","meaning":{"fr":"","en":"Profit before tax","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Profit before financing and income taxes","es":""},"value":2990000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Net financing expenses","es":""},"value":338000,"unit":"EUR"}],"result":2652000,"unit":"EUR"}],"references":["REF.IFRS18.SUBTOTALS"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000036","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.SUBTOTALS.PROFIT_ROLL_DOWN","IFRS18.SUBTOTALS.OPERATING_PROFIT"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"PHARMA","tested_point":"WATERFALL_ERRORS","difficulty":"INTERMEDIATE","estimated_time_s":110,"lesson_id":"LS.IFRS18.000005","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000005","section_id":"pitfalls"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Spot the erroneous statements on the waterfall of subtotals.","es":""},"explanation":{"fr":"","en":"Operating profit stops at the operating category; investing follows, then financing, tax and discontinued operations (IFRS 18).","es":""},"common_error":{"fr":"","en":"Mixing up the order of the categories in the waterfall.","es":""},"format":"ERROR_SPOT","statements":[{"id":"s1","text":{"fr":"","en":"Profit for the period includes the result of discontinued operations, after tax.","es":""},"erroneous":false},{"id":"s2","text":{"fr":"","en":"Operating profit contains investing income, the share of associates being part of it.","es":""},"erroneous":true,"correction":{"fr":"","en":"Investing is classified separately and added in the second subtotal (IFRS 18).","es":""}},{"id":"s3","text":{"fr":"","en":"The second subtotal is obtained by adding the investing category to operating profit.","es":""},"erroneous":false},{"id":"s4","text":{"fr":"","en":"Operating profit is calculated after financing expenses.","es":""},"erroneous":true,"correction":{"fr":"","en":"Financing expenses are outside operating profit and the second subtotal (IFRS 18).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000037","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.SMBA.CLASSIFICATION_EFFECTS"],"dimension":"RECOGNITION","format":"SINGLE_CHOICE","context":"FINANCE","tested_point":"LENDER_LOAN_INTEREST_OPERATING","difficulty":"BEGINNER","estimated_time_s":55,"lesson_id":"LS.IFRS18.000006","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000006","section_id":"rule-effects"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Which income does a consumer credit institution, whose main business activity is to finance customers, classify in operating profit?","es":""},"explanation":{"fr":"","en":"Rule to remember: the lender classifies the interest on its loans in operating (IFRS 18).","es":""},"common_error":{"fr":"","en":"Extending the exception to taxes or discontinued operations.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Proceeds from selling its head office, an operating building","es":""},"correct":false,"feedback":{"fr":"","en":"That income comes under the ordinary rules and not from the specified main business activity (IFRS 18).","es":""}},{"id":"B","text":{"fr":"","en":"The tax charge on its profits for the period","es":""},"correct":false,"feedback":{"fr":"","en":"Income tax keeps its own category (IFRS 18).","es":""}},{"id":"C","text":{"fr":"","en":"The result of a subsidiary sold and meeting the IFRS 5 definition","es":""},"correct":false,"feedback":{"fr":"","en":"Discontinued operations keep their own category (IFRS 18).","es":""}},{"id":"D","text":{"fr":"","en":"The interest on credits granted to its customers","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000038","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.SMBA.CLASSIFICATION_EFFECTS"],"dimension":"RECOGNITION","format":"SINGLE_CHOICE","context":"MANUFACTURING","tested_point":"EXCEPTION_NOT_FOR_INDUSTRIAL","difficulty":"INTERMEDIATE","estimated_time_s":80,"lesson_id":"LS.IFRS18.000006","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000006","section_id":"rule-effects"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Lorvane SA, a pump manufacturer with no specified main business activity, grants a loan to a related business and receives interest of €24,000. It considers classifying it in operating \"like a bank\". What is the answer?","es":""},"explanation":{"fr":"","en":"Rule to remember: the exception applies only to the entity that has a specified main business activity (IFRS 18).","es":""},"common_error":{"fr":"","en":"Applying to an industrial company the classification of a bank.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Yes: every loan granted is financing of a customer and therefore operating","es":""},"correct":false,"feedback":{"fr":"","en":"The exception presupposes that providing financing to customers is a main business activity (IFRS 18).","es":""}},{"id":"B","text":{"fr":"","en":"Yes, provided it states so in a note, without further justification","es":""},"correct":false,"feedback":{"fr":"","en":"Disclosure does not replace the condition of a specified main business activity (IFRS 18).","es":""}},{"id":"C","text":{"fr":"","en":"No: the lender's exception presupposes a specified main business activity","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"No: any interest on a loan granted goes to income taxes","es":""},"correct":false,"feedback":{"fr":"","en":"Income taxes take up only the taxes of IAS 12 (IFRS 18).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000039","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.SMBA.CLASSIFICATION_EFFECTS"],"dimension":"CALCULATION","format":"CALCULATION","context":"REALESTATE","tested_point":"SMBA_OPERATING_PROFIT_EFFECT","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS18.000006","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000006","section_id":"numeric-effects"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Case data: Immolane SA, a real estate investment company with a specified main business activity (investing in buildings), has rents of €874,000, fair value changes of buildings of €161,000, operating expenses of €379,500 and interest on its own cash of €23,000 (investing, case convention). Calculate its operating profit and then its profit before financing and income taxes.","es":""},"explanation":{"fr":"","en":"€874,000 + €161,000 − €379,500 = €655,500 (rents and fair value classified in operating for this entity, which has a specified main business activity); €655,500 + €23,000 = €678,500 (IFRS 18).","es":""},"common_error":{"fr":"","en":"Classifying the rents and fair value in investing despite the main business activity.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Rents","es":""},"value":"874000","unit":"EUR"},{"label":{"fr":"","en":"Fair value changes of buildings","es":""},"value":"161000","unit":"EUR"},{"label":{"fr":"","en":"Operating expenses","es":""},"value":"-379500","unit":"EUR"},{"label":{"fr":"","en":"Interest on own cash (investing)","es":""},"value":"23000","unit":"EUR"}],"steps":[{"id":"s1","label":{"fr":"","en":"Operating profit","es":""},"answer":655500,"tolerance":0,"unit":"EUR"},{"id":"s2","label":{"fr":"","en":"Profit before financing and income taxes","es":""},"answer":678500,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"s2","meaning":{"fr":"","en":"Profit before financing and income taxes","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Operating profit","es":""},"value":655500,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Interest on own cash (investing)","es":""},"value":23000,"unit":"EUR"}],"result":678500,"unit":"EUR"}],"references":["REF.IFRS18.SMBA.EFFECTS"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000040","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.SMBA.CLASSIFICATION_EFFECTS"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"FINANCE","tested_point":"RECLASS_LOAN_INTEREST_TO_OPERATING","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS18.000006","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000006","section_id":"entry-smba"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Case convention (presentation entry): Crédilane SA, a lender with a specified main business activity, had recorded €190,000 of interest on its loans in investing income. Post the entry that reclassifies it to operating income (profit for the period is unchanged).","es":""},"explanation":{"fr":"","en":"Investing income decreases (debit) by €190,000 and operating income increases (credit) by the same amount; profit for the period does not change (IFRS 18).","es":""},"common_error":{"fr":"","en":"Reversing the debited and credited accounts.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"invinc","text":{"fr":"","en":"Investing income","es":""}},{"id":"opinc","text":{"fr":"","en":"Operating income","es":""}},{"id":"finexp","text":{"fr":"","en":"Financing expense","es":""}},{"id":"opexp","text":{"fr":"","en":"Operating expense","es":""}}],"lines":[{"id":"l1","account":"invinc","side":"DEBIT","amount":190000,"given":["account","side"]},{"id":"l2","account":"opinc","side":"CREDIT","amount":190000,"given":["account","side"]}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000041","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.SMBA.CLASSIFICATION_EFFECTS"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"REALESTATE","tested_point":"SMBA_FOUR_STATEMENTS","difficulty":"INTERMEDIATE","estimated_time_s":110,"lesson_id":"LS.IFRS18.000006","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000006","section_id":"pitfalls"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Spot the erroneous statements on entities with a specified main business activity.","es":""},"explanation":{"fr":"","en":"The exception applies to the entity with a specified main business activity, moves amounts between categories without changing profit for the period and comes with a disclosure (IFRS 18).","es":""},"common_error":{"fr":"","en":"Thinking that the exception increases profit for the period or extends to ancillary credits.","es":""},"format":"ERROR_SPOT","statements":[{"id":"s1","text":{"fr":"","en":"A machinery manufacturer applies the lender's classification as soon as it grants credit to a customer.","es":""},"erroneous":true,"correction":{"fr":"","en":"A specified main business activity is needed; an ancillary credit alone is not enough.","es":""}},{"id":"s2","text":{"fr":"","en":"The entity that has such a main business activity discloses that it has one.","es":""},"erroneous":false},{"id":"s3","text":{"fr":"","en":"A real estate investment company may classify its rents in operating profit.","es":""},"erroneous":false},{"id":"s4","text":{"fr":"","en":"Reclassifying loan interest to operating increases the lender's profit for the period.","es":""},"erroneous":true,"correction":{"fr":"","en":"The reclassification moves the amount from one category to another without changing profit for the period.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000042","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.SMBA.ASSESSMENT"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"REALESTATE","tested_point":"SMBA_EVIDENCE_AND_CONCLUSION","difficulty":"ADVANCED","estimated_time_s":260,"lesson_id":"LS.IFRS18.000006","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000006","section_id":"rule-assessment"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Read the facts of Brelane SA and answer.","es":""},"explanation":{"fr":"","en":"The conclusion rests on converging, documented facts; the statement alone and a numerical threshold are not the basis adopted by the case.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Brelane SA, a listed group, operates logistics warehouses but also holds a portfolio of investment buildings. Facts for the period (case data): the strategy approved by the board names real estate investment as the first priority; the dashboard given to management tracks the rents and fair value of the portfolio; the rents and fair value represent 63% of income and 71% of assets; the investor presentation describes Brelane as a \"logistics property company\". The chief executive says orally: \"our business is real estate\".","es":""},"parts":[{"prompt":{"fr":"","en":"Which items can, by way of illustration, inform the entity's judgement on its main business activity?","es":""},"explanation":{"fr":"","en":"Strategy documents, management reporting and weight in income and assets can inform the judgement (illustrative list, not from the standard); a statement alone is a fragile basis.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The chief executive's oral statement alone","es":""},"correct":false,"feedback":{"fr":"","en":"A statement unsupported by the facts is not a documented basis for the judgement.","es":""}},{"id":"B","text":{"fr":"","en":"The strategy approved by the board and the dashboard given to management","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The fact that the portfolio is accounted for at fair value","es":""},"correct":false,"feedback":{"fr":"","en":"The measurement basis says nothing about whether the activity is a main one.","es":""}},{"id":"D","text":{"fr":"","en":"The share of rents and fair value in income and assets","es":""},"correct":true}],"id":"p1","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"Which conclusion is the most defensible on these facts?","es":""},"explanation":{"fr":"","en":"The facts converge on a main business activity of real estate investment; the conclusion is a documented judgement, with no threshold applied by the case.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Brelane can conclude that investing in buildings is a main business activity, because the facts converge; the case applies no percentage","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Brelane must rely on the chief executive's statement, without documenting its conclusion","es":""},"correct":false,"feedback":{"fr":"","en":"The conclusion is documented from the facts; a statement alone does not replace it.","es":""}},{"id":"C","text":{"fr":"","en":"Brelane must conclude yes as soon as 50% of assets are real estate, a threshold of the standard","es":""},"correct":false,"feedback":{"fr":"","en":"The case applies no numerical threshold: the judgement covers all the facts.","es":""}},{"id":"D","text":{"fr":"","en":"Brelane must conclude no, because logistics also generates income","es":""},"correct":false,"feedback":{"fr":"","en":"In this case the facts converge on real estate investment: the existence of logistics does not rule it out.","es":""}}],"id":"p2","dimension":"PROFESSIONAL_JUDGMENT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000043","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.SMBA.ASSESSMENT"],"dimension":"PROFESSIONAL_JUDGMENT","format":"ERROR_SPOT","context":"FINANCE","tested_point":"SMBA_ASSESSMENT_STATEMENTS","difficulty":"EXPERT","estimated_time_s":200,"lesson_id":"LS.IFRS18.000006","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000006","section_id":"judgment"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"A firm notes the principles of assessing a specified main business activity. Spot the erroneous statements.","es":""},"explanation":{"fr":"","en":"Judgement based on the entity's facts, no percentage applied by the case, documented; a statement alone is a fragile basis.","es":""},"common_error":{"fr":"","en":"Reducing the assessment to a statement or to a fixed percentage.","es":""},"format":"ERROR_SPOT","statements":[{"id":"s1","text":{"fr":"","en":"The assessment is a judgement of the entity, based on its facts.","es":""},"erroneous":false},{"id":"s2","text":{"fr":"","en":"The standard sets a percentage of revenue beyond which the activity is a main one.","es":""},"erroneous":true,"correction":{"fr":"","en":"The case applies no percentage: the assessment is a judgement based on the facts.","es":""}},{"id":"s3","text":{"fr":"","en":"A management statement is enough to conclude, with no other element.","es":""},"erroneous":true,"correction":{"fr":"","en":"The conclusion rests on the entity's facts, not on the statement alone.","es":""}},{"id":"s4","text":{"fr":"","en":"The conclusion and the facts on which it rests are documented.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000046","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.AGGREGATION.PRINCIPLES"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"RETAIL","tested_point":"NO_NUMERIC_THRESHOLD","difficulty":"INTERMEDIATE","estimated_time_s":80,"lesson_id":"LS.IFRS18.000007","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000007","section_id":"rule-principles"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Marvane SA's internal policy says: \"disaggregate any item above 3% of income\". An item of 2% of income is a material item whose characteristics differ from those of the rest of the line. What should be done?","es":""},"explanation":{"fr":"","en":"Rule to remember: no numerical threshold is set; what differs in characteristics and what is material is disaggregated (IFRS 18).","es":""},"common_error":{"fr":"","en":"Giving an internal policy the value of a rule of the standard.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Not disaggregate it: below the internal threshold, the standard waives disaggregation","es":""},"correct":false,"feedback":{"fr":"","en":"The standard sets no percentage and does not adopt the internal policy (IFRS 18).","es":""}},{"id":"B","text":{"fr":"","en":"Report it in the notes only, because it is below 3%","es":""},"correct":false,"feedback":{"fr":"","en":"The internal threshold does not decide where material information goes (IFRS 18).","es":""}},{"id":"C","text":{"fr":"","en":"Disaggregate it anyway: the internal threshold is not the standard, which turns on characteristics and material information","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Raise the internal threshold to 5% to make the rule compliant","es":""},"correct":false,"feedback":{"fr":"","en":"Changing the percentage creates no compliance: the test remains material information (IFRS 18).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000047","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.AGGREGATION.PRINCIPLES"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"MANUFACTURING","tested_point":"AGGREGATE_COMMON_CHARACTERISTICS","difficulty":"BEGINNER","estimated_time_s":40,"lesson_id":"LS.IFRS18.000007","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000007","section_id":"rule-principles"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Items that share common characteristics may be aggregated in the same line, provided the aggregation does not obscure material information.","es":""},"explanation":{"fr":"","en":"That is the principle: aggregate what is common, disaggregate the rest, without obscuring material information (IFRS 18).","es":""},"common_error":{"fr":"","en":"Believing that every aggregation is prohibited.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000048","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.AGGREGATION.PRINCIPLES","IFRS18.AGGREGATION.OTHER_LABEL"],"dimension":"APPLICATION","format":"MINI_CASE","context":"SERVICES","tested_point":"DISAGGREGATE_OTHER_EXPENSES","difficulty":"INTERMEDIATE","estimated_time_s":140,"lesson_id":"LS.IFRS18.000007","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000007","section_id":"example"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Read the facts of Roslane SA and answer.","es":""},"explanation":{"fr":"","en":"Fees (€387,000) and licences (€252,000) leave \"Other\", which keeps €207,000; the choice is a case judgement, with no threshold (IFRS 18).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Roslane SA's \"Other expenses\" line amounts to €846,000 (2027). It includes: consulting fees €387,000, licence rentals €252,000, entertainment costs €135,000, miscellaneous (about twenty small amounts) €72,000. Management considers (case judgement) that consulting fees and licence rentals are material and have a specific label; entertainment costs and miscellaneous items are not.","es":""},"parts":[{"prompt":{"fr":"","en":"Which presentation is consistent with this judgement and with IFRS 18?","es":""},"explanation":{"fr":"","en":"Rule to remember: material items with a specific label are presented separately; \"other\" keeps only the residual (IFRS 18).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Keep a single \"Other expenses\" line of €846,000, with no breakdown","es":""},"correct":false,"feedback":{"fr":"","en":"Material items with a specific label are not hidden in \"Other\" (IFRS 18).","es":""}},{"id":"B","text":{"fr":"","en":"Delete the line and spread the €846,000 over cost of sales","es":""},"correct":false,"feedback":{"fr":"","en":"Nothing justifies moving these expenses to cost of sales (IFRS 18).","es":""}},{"id":"C","text":{"fr":"","en":"Detail each of the small miscellaneous amounts on a separate line","es":""},"correct":false,"feedback":{"fr":"","en":"Excessive detail can also obscure material information (IFRS 18).","es":""}},{"id":"D","text":{"fr":"","en":"Own lines for fees and licences; a residual \"Other\" line","es":""},"correct":true}],"id":"p1","dimension":"APPLICATION"},{"prompt":{"fr":"","en":"Calculate the amount that remains under the label \"Other expenses\".","es":""},"explanation":{"fr":"","en":"€135,000 + €72,000 = €207,000 (IFRS 18).","es":""},"common_error":{"fr":"","en":"Keeping under 'Other expenses' items that should be shown elsewhere: only the residual stays there.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Entertainment costs","es":""},"value":"135000","unit":"EUR"},{"label":{"fr":"","en":"Miscellaneous","es":""},"value":"72000","unit":"EUR"}],"steps":[{"id":"s1","label":{"fr":"","en":"Residual amount \"Other expenses\"","es":""},"answer":207000,"tolerance":0,"unit":"EUR"}],"id":"p2","dimension":"CALCULATION","formula":{"lines":[{"step":"s1","meaning":{"fr":"","en":"Residual amount \"Other expenses\"","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Entertainment costs","es":""},"value":135000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Miscellaneous","es":""},"value":72000,"unit":"EUR"}],"result":207000,"unit":"EUR"}],"rationale":{"fr":"","en":"€135,000 + €72,000 = €207,000 (IFRS 18).","es":""},"references":["REF.IFRS18.OTHER.LABEL"]}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000049","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.AGGREGATION.ROLES"],"dimension":"RECOGNITION","format":"MATCHING","context":"MEDIA","tested_point":"PRIMARY_VS_NOTE_ROLES","difficulty":"BEGINNER","estimated_time_s":70,"lesson_id":"LS.IFRS18.000007","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000007","section_id":"rule-roles"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Match each medium with its role.","es":""},"explanation":{"fr":"","en":"The primary statements summarise, the notes detail, and material information not presented in the primary statement is given in the notes (IFRS 18).","es":""},"common_error":{"fr":"","en":"Believing that the notes replace the primary statements.","es":""},"format":"MATCHING","left":[{"id":"l1","text":{"fr":"","en":"Line of a primary statement","es":""}},{"id":"l2","text":{"fr":"","en":"Note to the financial statements","es":""}},{"id":"l3","text":{"fr":"","en":"Material information absent from the primary statement","es":""}}],"right":[{"id":"r2","text":{"fr":"","en":"Disaggregation and detail","es":""}},{"id":"r3","text":{"fr":"","en":"Given in the notes","es":""}},{"id":"r1","text":{"fr":"","en":"Useful structured summary","es":""}}],"pairs":[{"left":"l1","right":"r1"},{"left":"l2","right":"r2"},{"left":"l3","right":"r3"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000050","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.AGGREGATION.ROLES"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"ENERGY","tested_point":"WHERE_TO_PUT_MATERIAL_INFO","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS18.000007","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000007","section_id":"rule-roles"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Ordane SA has material information on the composition of its inventories that does not fit in the summarised line of the balance sheet. Where does it provide it?","es":""},"explanation":{"fr":"","en":"Rule to remember: material information absent from the primary statements is given in the notes (IFRS 18).","es":""},"common_error":{"fr":"","en":"Leaving material information outside the financial statements.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"In the notes, which provide the disaggregation of the summarised line","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"In the management report, the financial statements not having to contain it","es":""},"correct":false,"feedback":{"fr":"","en":"Material information belongs in the financial statements: primary statements or notes (IFRS 18).","es":""}},{"id":"C","text":{"fr":"","en":"Nowhere: the summarised balance sheet line is sufficient","es":""},"correct":false,"feedback":{"fr":"","en":"Material information not presented in the primary statements is given in the notes (IFRS 18).","es":""}},{"id":"D","text":{"fr":"","en":"In an additional line of the income statement","es":""},"correct":false,"feedback":{"fr":"","en":"The composition of inventories is not an item of income or expense of the income statement (IFRS 18).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000051","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.AGGREGATION.OTHER_LABEL"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"LOGISTICS","tested_point":"OTHER_LABEL_CONDITIONS","difficulty":"BEGINNER","estimated_time_s":55,"lesson_id":"LS.IFRS18.000007","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000007","section_id":"rule-other"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Complete the rule on the label \"other\".","es":""},"explanation":{"fr":"","en":"\"Other\" presupposes the absence of a more specific or more useful label and comes with information about the items it covers (IFRS 18).","es":""},"common_error":{"fr":"","en":"Using \"other\" as soon as the total is small.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"The label \"other\" is used only if no more {{plus}} or more useful label is available, and it requires {{informations}} about the items so labelled.","es":""},"blanks":[{"id":"plus","mode":"CHOICE","choices":[{"id":"c1","text":{"fr":"","en":"short","es":""}},{"id":"c2","text":{"fr":"","en":"specific","es":""}},{"id":"c3","text":{"fr":"","en":"old","es":""}}],"answer":"c2"},{"id":"informations","mode":"CHOICE","choices":[{"id":"c1","text":{"fr":"","en":"estimates","es":""}},{"id":"c2","text":{"fr":"","en":"guarantees","es":""}},{"id":"c3","text":{"fr":"","en":"disclosures","es":""}}],"answer":"c3"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000052","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.AGGREGATION.OTHER_LABEL"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"RETAIL","tested_point":"OTHER_LABEL_SPOTTING","difficulty":"INTERMEDIATE","estimated_time_s":110,"lesson_id":"LS.IFRS18.000007","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000007","section_id":"rule-other"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Spot the erroneous statements on the label \"other\".","es":""},"explanation":{"fr":"","en":"\"Other\" is a last-resort label, reserved for non-material items or items with no more useful label, with disclosure (IFRS 18).","es":""},"common_error":{"fr":"","en":"Making \"other\" a catch-all line without limit.","es":""},"format":"ERROR_SPOT","statements":[{"id":"s1","text":{"fr":"","en":"A material item with a specific label available can always be placed under \"other\".","es":""},"erroneous":true,"correction":{"fr":"","en":"That is not acceptable: the specific label must be used.","es":""}},{"id":"s2","text":{"fr":"","en":"The label \"other\" requires information about the items so labelled.","es":""},"erroneous":false},{"id":"s3","text":{"fr":"","en":"A very large \"other\" line is normal as long as it does not exceed income.","es":""},"erroneous":true,"correction":{"fr":"","en":"A very large \"other\" line reveals an aggregation that obscures material information.","es":""}},{"id":"s4","text":{"fr":"","en":"Non-material items may be grouped together under \"other\".","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000053","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.AGGREGATION.PRINCIPLES","IFRS18.AGGREGATION.ROLES"],"dimension":"PROFESSIONAL_JUDGMENT","format":"SINGLE_CHOICE","context":"PHARMA","tested_point":"LEVEL_OF_DETAIL_JUDGMENT","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS18.000007","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000007","section_id":"judgment"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"A partner proposes to disaggregate in the statement of profit or loss each licence contract of Sadrane SA (60 lines), on the ground that \"more detail is always more compliant\". Which answer is consistent with IFRS 18?","es":""},"explanation":{"fr":"","en":"Rule to remember: the level of detail is a judgement: neither excessive aggregation nor excessive detail; the primary statement summarises, the note details (IFRS 18).","es":""},"common_error":{"fr":"","en":"Believing that more detail is always more compliant.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Yes: more lines is always preferable, the standard setting no limit","es":""},"correct":false,"feedback":{"fr":"","en":"The absence of a numerical threshold does not authorise excessive detail, which hides the essential (IFRS 18).","es":""}},{"id":"B","text":{"fr":"","en":"No: excessive detail can obscure information; the note details","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Yes, but only if each line exceeds an approved internal threshold","es":""},"correct":false,"feedback":{"fr":"","en":"An internal threshold does not replace the judgement on characteristics (IFRS 18).","es":""}},{"id":"D","text":{"fr":"","en":"No: the licence contracts must not appear anywhere in the financial statements","es":""},"correct":false,"feedback":{"fr":"","en":"Useful disaggregation is still provided, in the notes if it does not fit in the primary statement (IFRS 18).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000054","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.AGGREGATION.OPEX_PRESENTATION"],"dimension":"RECOGNITION","format":"SINGLE_CHOICE","context":"MANUFACTURING","tested_point":"NATURE_FUNCTION_MIXED","difficulty":"BEGINNER","estimated_time_s":55,"lesson_id":"LS.IFRS18.000008","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000008","section_id":"rule-presentation"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Sarvane SA presents \"Cost of sales\" and \"Administrative expenses\" but also \"Staff costs\" in its income statement. How should this presentation be described?","es":""},"explanation":{"fr":"","en":"Rule to remember: a mixture is possible; one line by function is enough to trigger the note (IFRS 18).","es":""},"common_error":{"fr":"","en":"Thinking the presentation must be uniformly by nature or by function.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A purely by-nature presentation, with no additional information","es":""},"correct":false,"feedback":{"fr":"","en":"Cost of sales and administrative expenses are lines by function (IFRS 18).","es":""}},{"id":"B","text":{"fr":"","en":"An unauthorised presentation, the standard requiring one or the other","es":""},"correct":false,"feedback":{"fr":"","en":"A mixture of the two is possible (IFRS 18).","es":""}},{"id":"C","text":{"fr":"","en":"A purely by-function presentation, staff being a function","es":""},"correct":false,"feedback":{"fr":"","en":"Staff costs say what the expense is: it is a line by nature (IFRS 18).","es":""}},{"id":"D","text":{"fr":"","en":"A mixture of lines by function and by nature, which brings the paragraph 83 information","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000055","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.AGGREGATION.OPEX_PRESENTATION"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"RETAIL","tested_point":"FUNCTION_TRIGGERS_NATURE_NOTE","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IFRS18.000008","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000008","section_id":"rule-presentation"},"references":["IFRS 18","IFRS 18 §83"],"exercise":{"prompt":{"fr":"","en":"An entity that presents its cost of sales by function must disclose in a note the total of certain expenses by nature.","es":""},"explanation":{"fr":"","en":"As soon as a line of operating expenses is by function, the single note applies (IFRS 18, para. 83).","es":""},"common_error":{"fr":"","en":"Believing that information by nature is required only for presentation by nature.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000056","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.AGGREGATION.EXPENSES_BY_NATURE_NOTE"],"dimension":"RECOGNITION","format":"MULTIPLE_CHOICE","context":"AUTOMOTIVE","tested_point":"LIST_OF_FIVE_NATURE_EXPENSES","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS18.000008","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000008","section_id":"rule-note"},"references":["IFRS 18 §83"],"exercise":{"prompt":{"fr":"","en":"Among these expenses of Belvane SA, which presents its expenses by function, which are in the single note of paragraph 83?","es":""},"explanation":{"fr":"","en":"The note covers depreciation and amortisation, employee benefits, impairment of non-financial assets and inventories, reversals included (IFRS 18, para. 83).","es":""},"common_error":{"fr":"","en":"Extending the note to fees or interest.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Depreciation of property, plant and equipment","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Legal fees for the period","es":""},"correct":false,"feedback":{"fr":"","en":"Fees are not among the five expenses in the list (IFRS 18, para. 83).","es":""}},{"id":"C","text":{"fr":"","en":"Impairment of non-financial assets and their reversals","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Interest on the bank loan","es":""},"correct":false,"feedback":{"fr":"","en":"This interest belongs to financing and is not in the list (IFRS 18, para. 83).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000057","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.AGGREGATION.EXPENSES_BY_NATURE_NOTE"],"dimension":"CALCULATION","format":"CALCULATION","context":"INDUSTRY","tested_point":"DISCLOSED_DEPRECIATION_WITH_CAPITALISED","difficulty":"INTERMEDIATE","estimated_time_s":130,"lesson_id":"LS.IFRS18.000008","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000008","section_id":"numeric-note"},"references":["IFRS 18 §83"],"exercise":{"prompt":{"fr":"","en":"Case convention: the note includes amounts capitalised in assets. Ormane SA recognised €1,001,000 of depreciation of property, plant and equipment in expenses and capitalised €148,500 in the cost of inventories. It also recognised an impairment of non-financial assets of €77,000 and a reversal of impairment of €27,500. Calculate the total depreciation of property, plant and equipment to disclose and the net amount of impairment.","es":""},"explanation":{"fr":"","en":"€1,001,000 + €148,500 = €1,149,500; €77,000 − €27,500 = €49,500 (IFRS 18, para. 83).","es":""},"common_error":{"fr":"","en":"Forgetting the depreciation capitalised in inventories or ignoring the reversal.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Depreciation recognised in expenses","es":""},"value":"1001000","unit":"EUR"},{"label":{"fr":"","en":"Depreciation capitalised in the cost of inventories","es":""},"value":"148500","unit":"EUR"},{"label":{"fr":"","en":"Impairment of non-financial assets","es":""},"value":"77000","unit":"EUR"},{"label":{"fr":"","en":"Reversal of impairment","es":""},"value":"27500","unit":"EUR"}],"steps":[{"id":"s1","label":{"fr":"","en":"Depreciation of property, plant and equipment to disclose","es":""},"answer":1149500,"tolerance":0,"unit":"EUR"},{"id":"s2","label":{"fr":"","en":"Net impairment of non-financial assets","es":""},"answer":49500,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"s1","meaning":{"fr":"","en":"Depreciation of property, plant and equipment to disclose","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Depreciation recognised in expenses","es":""},"value":1001000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Depreciation capitalised in the cost of inventories","es":""},"value":148500,"unit":"EUR"}],"result":1149500,"unit":"EUR"},{"step":"s2","meaning":{"fr":"","en":"Net impairment of non-financial assets","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Impairment of non-financial assets","es":""},"value":77000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Reversal of impairment","es":""},"value":27500,"unit":"EUR"}],"result":49500,"unit":"EUR"}],"references":["REF.IFRS18.83"]}},"scope":"CORE_STUDENT","reserve":true},{"key":"LX.IFRS18.000058","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.AGGREGATION.EXPENSES_BY_NATURE_NOTE","IFRS18.AGGREGATION.OPEX_PRESENTATION"],"dimension":"ANALYSIS","format":"MINI_CASE","context":"CONSUMER","tested_point":"NOTE_TOTAL_FOR_FUNCTION_ENTITY","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IFRS18.000008","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000008","section_id":"numeric-note"},"references":["IFRS 18 §83","IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Read the facts of Garmane SA and answer.","es":""},"explanation":{"fr":"","en":"The note shows €3,864,000 of employee benefits, €621,000 of depreciation and €57,500 of net inventory write-downs (IFRS 18, para. 83).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Garmane SA presents its cost of sales, distribution costs and administrative expenses by function. For the period (case data): employee benefits recognised in expenses €3,565,000 and capitalised in fixed assets €299,000; depreciation of property, plant and equipment recognised in expenses €621,000; inventory write-downs €92,000 and reversals €34,500. Case convention: the note includes amounts capitalised in assets.","es":""},"parts":[{"prompt":{"fr":"","en":"Garmane must provide the single note of expenses by nature, because it presents lines by function.","es":""},"explanation":{"fr":"","en":"As soon as a line is by function, the note applies (IFRS 18, para. 83).","es":""},"common_error":{"fr":"","en":"Believing the note is optional while part of profit or loss is by nature: a single line by function is enough to require it.","es":""},"format":"TRUE_FALSE","answer":true,"id":"p1","dimension":"RULE_KNOWLEDGE"},{"prompt":{"fr":"","en":"Calculate the amounts to disclose in the note for employee benefits, depreciation of property, plant and equipment and inventory write-downs (net of reversals).","es":""},"explanation":{"fr":"","en":"€3,565,000 + €299,000 = €3,864,000; depreciation: €621,000 (no capitalised amount); €92,000 − €34,500 = €57,500 (IFRS 18, para. 83).","es":""},"common_error":{"fr":"","en":"Limiting employee benefits to the expensed amounts: the note also includes amounts capitalised in assets.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Employee benefits recognised in expenses","es":""},"value":"3565000","unit":"EUR"},{"label":{"fr":"","en":"Employee benefits capitalised in fixed assets","es":""},"value":"299000","unit":"EUR"},{"label":{"fr":"","en":"Depreciation of property, plant and equipment in expenses","es":""},"value":"621000","unit":"EUR"},{"label":{"fr":"","en":"Inventory write-downs","es":""},"value":"92000","unit":"EUR"},{"label":{"fr":"","en":"Reversals of inventory write-downs","es":""},"value":"34500","unit":"EUR"}],"steps":[{"id":"s1","label":{"fr":"","en":"Employee benefits to disclose","es":""},"answer":3864000,"tolerance":0,"unit":"EUR"},{"id":"s2","label":{"fr":"","en":"Depreciation of property, plant and equipment to disclose","es":""},"answer":621000,"tolerance":0,"unit":"EUR"},{"id":"s3","label":{"fr":"","en":"Net inventory write-downs to disclose","es":""},"answer":57500,"tolerance":0,"unit":"EUR"}],"id":"p2","dimension":"CALCULATION","formula":{"lines":[{"step":"s1","meaning":{"fr":"","en":"Employee benefits to disclose","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Employee benefits recognised in expenses","es":""},"value":3565000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Employee benefits capitalised in fixed assets","es":""},"value":299000,"unit":"EUR"}],"result":3864000,"unit":"EUR"},{"step":"s3","meaning":{"fr":"","en":"Net inventory write-downs to disclose","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Inventory write-downs","es":""},"value":92000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Reversals of inventory write-downs","es":""},"value":34500,"unit":"EUR"}],"result":57500,"unit":"EUR"}],"references":["REF.IFRS18.83"]}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000059","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.AGGREGATION.EXPENSES_BY_NATURE_NOTE"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"ENERGY","tested_point":"PARAGRAPH_83_STATEMENTS","difficulty":"INTERMEDIATE","estimated_time_s":110,"lesson_id":"LS.IFRS18.000008","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000008","section_id":"rule-note"},"references":["IFRS 18 §83"],"exercise":{"prompt":{"fr":"","en":"Spot the erroneous statements on the single note of paragraph 83.","es":""},"explanation":{"fr":"","en":"The note is single, triggered by a line by function, and may include amounts capitalised in assets (IFRS 18, para. 83).","es":""},"common_error":{"fr":"","en":"Limiting the note to presentations by nature only or to part of the five expenses.","es":""},"format":"ERROR_SPOT","statements":[{"id":"s1","text":{"fr":"","en":"The note covers only depreciation and employee benefits: impairments are excluded.","es":""},"erroneous":true,"correction":{"fr":"","en":"It also covers impairments of non-financial assets and inventories, including reversals (IFRS 18, para. 83).","es":""}},{"id":"s2","text":{"fr":"","en":"The note applies only to entities that present all their expenses by nature.","es":""},"erroneous":true,"correction":{"fr":"","en":"On the contrary, it applies as soon as one line is by function (IFRS 18, para. 83).","es":""}},{"id":"s3","text":{"fr":"","en":"The note applies as soon as a line of operating expenses is classified by function.","es":""},"erroneous":false},{"id":"s4","text":{"fr":"","en":"The note is single and gives the total of each of the five expenses by nature.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000060","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.MPM.DEFINITION"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"CONSUMER","tested_point":"THREE_CONDITIONS_LIST","difficulty":"BEGINNER","estimated_time_s":55,"lesson_id":"LS.IFRS18.000009","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000009","section_id":"rule-definition"},"references":["IFRS 18 §118"],"exercise":{"prompt":{"fr":"","en":"Which list sets out the three conditions of a management-defined performance measure?","es":""},"explanation":{"fr":"","en":"Rule to remember: MPM = subtotal of income and expenses published outside the statements + management's view + neither listed nor required (IFRS 18).","es":""},"common_error":{"fr":"","en":"Confusing the definition with control or calculation criteria.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Figure verified by the auditor; calculated under a formula of the standard; presented in the balance sheet","es":""},"correct":false,"feedback":{"fr":"","en":"None of these conditions is in the definition (IFRS 18).","es":""}},{"id":"B","text":{"fr":"","en":"Subtotal of income and expenses published outside the statements; management's view of overall performance; neither listed nor required","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Subtotal required by IFRS 18; published in the statements; unrelated to management","es":""},"correct":false,"feedback":{"fr":"","en":"A required subtotal is excluded from the definition (IFRS 18).","es":""}},{"id":"D","text":{"fr":"","en":"Cash flow; published internally; freely calculated by the accounting department","es":""},"correct":false,"feedback":{"fr":"","en":"An MPM is a subtotal of income and expenses, publicly communicated (IFRS 18).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000061","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.MPM.DEFINITION"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"TECHNOLOGY","tested_point":"CLASSIFY_PUBLISHED_FIGURES","difficulty":"INTERMEDIATE","estimated_time_s":110,"lesson_id":"LS.IFRS18.000009","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000009","section_id":"example"},"references":["IFRS 18 §118"],"exercise":{"prompt":{"fr":"","en":"Classify each figure of Zilvane SA according to whether or not it is a management-defined performance measure (case data).","es":""},"explanation":{"fr":"","en":"Only subtotals of income and expenses published outside the statements, at management's choice and not required, are MPMs (IFRS 18).","es":""},"common_error":{"fr":"","en":"Describing as an MPM a required subtotal or an internal cash flow.","es":""},"format":"CLASSIFICATION","categories":[{"id":"c1","text":{"fr":"","en":"Is an MPM","es":""}},{"id":"c2","text":{"fr":"","en":"Is not an MPM","es":""}}],"items":[{"id":"i1","text":{"fr":"","en":"Net result adjusted for acquisition costs, presented to investors","es":""},"category":"c1"},{"id":"i2","text":{"fr":"","en":"Operating profit, a required line of the statement of profit or loss","es":""},"category":"c2"},{"id":"i3","text":{"fr":"","en":"Profit before financing and income taxes, a required subtotal","es":""},"category":"c2"},{"id":"i4","text":{"fr":"","en":"Operating profit before restructuring items, quoted in the annual report outside the statements","es":""},"category":"c1"},{"id":"i5","text":{"fr":"","en":"Net cash generated by operations, internal dashboard with no publication","es":""},"category":"c2"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000062","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.MPM.DEFINITION"],"dimension":"APPLICATION","format":"MINI_CASE","context":"RETAIL","tested_point":"INTERNAL_ONLY_MEASURE","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS18.000009","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000009","section_id":"judgment"},"references":["IFRS 18 §118"],"exercise":{"prompt":{"fr":"","en":"Read the facts of Hanvane SA and answer.","es":""},"explanation":{"fr":"","en":"Only (a) is an MPM; (b) would become one if published, (c) never is because it is required (IFRS 18).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Hanvane SA calculates three figures (case data): (a) an \"operating profit before licence rentals\" published in its results announcement; (b) a \"steering subtotal\" used only in the internal management committee, never communicated externally; (c) the operating profit presented in the statement of profit or loss.","es":""},"parts":[{"prompt":{"fr":"","en":"Which of these figures is a management-defined performance measure?","es":""},"explanation":{"fr":"","en":"Rule to remember: all three conditions are needed: only (a) meets them (IFRS 18).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Figure (b), because it reflects management's view","es":""},"correct":false,"feedback":{"fr":"","en":"It is not used in a public communication: one condition is missing (IFRS 18).","es":""}},{"id":"B","text":{"fr":"","en":"Figure (a), published outside the statements, of management's choice and not required","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Figure (c), because it is the one most followed by investors","es":""},"correct":false,"feedback":{"fr":"","en":"Operating profit is required by IFRS 18: it is not an MPM (IFRS 18, para. 117).","es":""}},{"id":"D","text":{"fr":"","en":"All three figures, every management figure being an MPM","es":""},"correct":false,"feedback":{"fr":"","en":"The definition is cumulative: publication outside the statements and the absence of a requirement matter (IFRS 18).","es":""}}],"id":"p1","dimension":"APPLICATION"},{"prompt":{"fr":"","en":"If Hanvane also published (b) in its annual report, (b) would become a management-defined performance measure.","es":""},"explanation":{"fr":"","en":"Publication outside the statements would meet the missing condition; the measure would then be an MPM (IFRS 18).","es":""},"common_error":{"fr":"","en":"Ignoring the condition of public communication outside the statements: it is the missing condition for (b) to be a management measure.","es":""},"format":"TRUE_FALSE","answer":true,"id":"p2","dimension":"RECOGNITION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000063","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.MPM.EXCLUDED_SUBTOTALS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"MANUFACTURING","tested_point":"REQUIRED_SUBTOTAL_NOT_MPM","difficulty":"BEGINNER","estimated_time_s":40,"lesson_id":"LS.IFRS18.000009","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000009","section_id":"rule-excluded"},"references":["IFRS 18 §118"],"exercise":{"prompt":{"fr":"","en":"The operating profit that Valdane SA presents in its statement of profit or loss is a management-defined performance measure, to be reconciled to another subtotal.","es":""},"explanation":{"fr":"","en":"Operating profit is a required subtotal: it is not an MPM and calls for no MPM reconciliation (IFRS 18, para. 117).","es":""},"common_error":{"fr":"","en":"Reconciling a required subtotal as if it were a defined measure.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000064","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.MPM.EXCLUDED_SUBTOTALS"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"ENERGY","tested_point":"EXCLUDED_SUBTOTAL_SPOTTING","difficulty":"INTERMEDIATE","estimated_time_s":100,"lesson_id":"LS.IFRS18.000009","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000009","section_id":"rule-excluded"},"references":["IFRS 18 §118"],"exercise":{"prompt":{"fr":"","en":"Spot the erroneous statements on the subtotals excluded from the definition.","es":""},"explanation":{"fr":"","en":"The subtotals required by IFRS 18 or other standards are excluded; adjusted versions chosen by management are not (IFRS 18, paras. 117 and 118).","es":""},"common_error":{"fr":"","en":"Confusing a required subtotal with its adjusted version.","es":""},"format":"ERROR_SPOT","statements":[{"id":"s1","text":{"fr":"","en":"Subtotals required by other standards are also excluded from the definition.","es":""},"erroneous":false},{"id":"s2","text":{"fr":"","en":"Profit before financing and income taxes becomes an MPM as soon as it is quoted in a press release.","es":""},"erroneous":true,"correction":{"fr":"","en":"It remains a required subtotal: quoting it does not turn it into an MPM.","es":""}},{"id":"s3","text":{"fr":"","en":"The totals and subtotals required by IFRS 18 are not management-defined performance measures.","es":""},"erroneous":false},{"id":"s4","text":{"fr":"","en":"An operating profit \"adjusted\" freely by management is also listed, hence excluded.","es":""},"erroneous":true,"correction":{"fr":"","en":"The adjusted version chosen by management is not listed: it is an MPM.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000065","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.MPM.OBJECTIVE"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"SERVICES","tested_point":"OBJECTIVE_OF_MPM_NOTE","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IFRS18.000009","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000009","section_id":"rule-objective"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"What is the objective of the disclosure about management-defined performance measures?","es":""},"explanation":{"fr":"","en":"Rule to remember: the MPM disclosure helps the user understand what management wants to communicate (IFRS 18).","es":""},"common_error":{"fr":"","en":"Seeing in the note a mere justification of the measure.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Justify the measure to the auditor and the regulator","es":""},"correct":false,"feedback":{"fr":"","en":"The objective is directed at the user, not at justification (IFRS 18).","es":""}},{"id":"B","text":{"fr":"","en":"Replace the operating profit in the statement of profit or loss with management's measure","es":""},"correct":false,"feedback":{"fr":"","en":"The measure does not replace the subtotals of the financial statements (IFRS 18).","es":""}},{"id":"C","text":{"fr":"","en":"Set the calculation method management must adopt","es":""},"correct":false,"feedback":{"fr":"","en":"The calculation method is not restricted; the note explains it (IFRS 18).","es":""}},{"id":"D","text":{"fr":"","en":"Help the user understand the aspect of performance management wants to show","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000066","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.MPM.OBJECTIVE"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"MEDIA","tested_point":"MPM_NOTE_IS_TRANSPARENCY","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IFRS18.000009","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000009","section_id":"rule-objective"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"The note on a management-defined performance measure aims first of all to help the user understand what management intends to communicate through that measure.","es":""},"explanation":{"fr":"","en":"That is the objective of the disclosure: transparency towards the user, not justification of the measure (IFRS 18).","es":""},"common_error":{"fr":"","en":"Making the note a mere communication or justification tool.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000067","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.MPM.DISCLOSURES"],"dimension":"RULE_KNOWLEDGE","format":"MATCHING","context":"TECHNOLOGY","tested_point":"COMPARABLE_SUBTOTAL_MATCH","difficulty":"BEGINNER","estimated_time_s":70,"lesson_id":"LS.IFRS18.000010","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000010","section_id":"rule-disclosures"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Match each management-defined performance measure with the most directly comparable subtotal.","es":""},"explanation":{"fr":"","en":"Each measure is reconciled to the subtotal closest to it in content (IFRS 18).","es":""},"common_error":{"fr":"","en":"Reconciling all measures to profit for the period.","es":""},"format":"MATCHING","left":[{"id":"l1","text":{"fr":"","en":"Adjusted operating profit","es":""}},{"id":"l2","text":{"fr":"","en":"Adjusted profit before financing and income taxes","es":""}},{"id":"l3","text":{"fr":"","en":"Adjusted net profit","es":""}}],"right":[{"id":"r2","text":{"fr":"","en":"Profit before financing and income taxes","es":""}},{"id":"r3","text":{"fr":"","en":"Profit for the period","es":""}},{"id":"r1","text":{"fr":"","en":"Operating profit","es":""}}],"pairs":[{"left":"l1","right":"r1"},{"left":"l2","right":"r2"},{"left":"l3","right":"r3"}]},"scope":"CORE_STUDENT","reserve":true},{"key":"LX.IFRS18.000068","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.MPM.DISCLOSURES"],"dimension":"CALCULATION","format":"CALCULATION","context":"PHARMA","tested_point":"MPM_SUBTOTAL_COMPUTATION","difficulty":"INTERMEDIATE","estimated_time_s":140,"lesson_id":"LS.IFRS18.000010","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000010","section_id":"numeric-reconciliation"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Case data: Aldrane SA has profit before financing and income taxes of €4,495,000. Its published measure, \"adjusted profit before financing and income taxes\", adds back a goodwill impairment of €580,000 and an acquisition charge of €217,500 and deducts an exceptional disposal gain of €319,000. Calculate the measure.","es":""},"explanation":{"fr":"","en":"€580,000 + €217,500 − €319,000 = €478,500; €4,495,000 + €478,500 = €4,973,500 (IFRS 18).","es":""},"common_error":{"fr":"","en":"Adding the disposal gain as well instead of deducting it.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Profit before financing and income taxes","es":""},"value":"4495000","unit":"EUR"},{"label":{"fr":"","en":"Goodwill impairment (add back)","es":""},"value":"580000","unit":"EUR"},{"label":{"fr":"","en":"Acquisition charge (add back)","es":""},"value":"217500","unit":"EUR"},{"label":{"fr":"","en":"Exceptional disposal gain (deduct)","es":""},"value":"-319000","unit":"EUR"}],"steps":[{"id":"s1","label":{"fr":"","en":"Net total of the reconciling items","es":""},"answer":478500,"tolerance":0,"unit":"EUR"},{"id":"s2","label":{"fr":"","en":"Management-defined performance measure","es":""},"answer":4973500,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"s2","meaning":{"fr":"","en":"Management-defined performance measure","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Profit before financing and income taxes","es":""},"value":4495000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Net total of the reconciling items","es":""},"value":478500,"unit":"EUR"}],"result":4973500,"unit":"EUR"}],"references":["REF.IFRS18.MPM.DISCLOSURES"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000069","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.MPM.DISCLOSURES","IFRS18.MPM.DEFINITION"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"MANUFACTURING","tested_point":"RECONCILE_WHICH_FIGURES","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS18.000010","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000010","section_id":"rule-disclosures"},"references":["IFRS 18","IFRS 18 §118"],"exercise":{"prompt":{"fr":"","en":"Spot the erroneous statements on the reconciliation of performance measures.","es":""},"explanation":{"fr":"","en":"Reconciliation to the closest subtotal, item by item, and only for management's measures (IFRS 18).","es":""},"common_error":{"fr":"","en":"Pooling the tax effects or reconciling a required subtotal.","es":""},"format":"ERROR_SPOT","statements":[{"id":"s1","text":{"fr":"","en":"The operating profit in the statement of profit or loss must itself be reconciled to another subtotal.","es":""},"erroneous":true,"correction":{"fr":"","en":"It is a subtotal required by the standard, which is not an MPM (IFRS 18, para. 117).","es":""}},{"id":"s2","text":{"fr":"","en":"The management measure is reconciled to the most directly comparable specified total or subtotal.","es":""},"erroneous":false},{"id":"s3","text":{"fr":"","en":"Each reconciling item carries its tax effect and its effect on non-controlling interests.","es":""},"erroneous":false},{"id":"s4","text":{"fr":"","en":"A single overall tax effect line is enough for the whole reconciliation.","es":""},"erroneous":true,"correction":{"fr":"","en":"The effect is given for each reconciling item.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000070","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.MPM.TAX_NCI_EFFECT"],"dimension":"CALCULATION","format":"CALCULATION","context":"SERVICES","tested_point":"NET_EFFECT_PER_ITEM","difficulty":"INTERMEDIATE","estimated_time_s":160,"lesson_id":"LS.IFRS18.000010","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000010","section_id":"numeric-reconciliation"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Case data: Mervane SA adds two items to its operating profit of €2,375,000. Item A: €325,000, tax at the statutory rate of 25%, non-controlling interests: €16,250. Item B: €175,000, tax €43,750, non-controlling interests: nil. Calculate the net effect of each item and the measure.","es":""},"explanation":{"fr":"","en":"A: €325,000 − €81,250 − €16,250 = €227,500; B: €175,000 − €43,750 = €131,250; measure: €2,375,000 + €325,000 + €175,000 = €2,875,000 (IFRS 18).","es":""},"common_error":{"fr":"","en":"Deducting the tax and non-controlling interests effects from the measure itself.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Operating profit","es":""},"value":"2375000","unit":"EUR"},{"label":{"fr":"","en":"Item A: amount","es":""},"value":"325000","unit":"EUR"},{"label":{"fr":"","en":"Item A: tax (25%)","es":""},"value":"81250","unit":"EUR"},{"label":{"fr":"","en":"Item A: non-controlling interests","es":""},"value":"16250","unit":"EUR"},{"label":{"fr":"","en":"Item B: amount","es":""},"value":"175000","unit":"EUR"},{"label":{"fr":"","en":"Item B: tax","es":""},"value":"43750","unit":"EUR"}],"steps":[{"id":"s1","label":{"fr":"","en":"Net effect of item A","es":""},"answer":227500,"tolerance":0,"unit":"EUR"},{"id":"s2","label":{"fr":"","en":"Net effect of item B","es":""},"answer":131250,"tolerance":0,"unit":"EUR"},{"id":"s3","label":{"fr":"","en":"Measure (adjusted operating profit)","es":""},"answer":2875000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"s1","meaning":{"fr":"","en":"Net effect of item A","es":""},"expression":"a - b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Item A: amount","es":""},"value":325000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Item A: tax (25%)","es":""},"value":81250,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Item A: non-controlling interests","es":""},"value":16250,"unit":"EUR"}],"result":227500,"unit":"EUR"},{"step":"s2","meaning":{"fr":"","en":"Net effect of item B","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Item B: amount","es":""},"value":175000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Item B: tax","es":""},"value":43750,"unit":"EUR"}],"result":131250,"unit":"EUR"},{"step":"s3","meaning":{"fr":"","en":"Measure (adjusted operating profit)","es":""},"expression":"a + b + c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Operating profit","es":""},"value":2375000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Item A: amount","es":""},"value":325000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Item B: amount","es":""},"value":175000,"unit":"EUR"}],"result":2875000,"unit":"EUR"}],"references":["REF.IFRS18.MPM.DISCLOSURES"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000071","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.MPM.TAX_NCI_EFFECT"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"RETAIL","tested_point":"SIMPLIFIED_TAX_APPROACH","difficulty":"INTERMEDIATE","estimated_time_s":80,"lesson_id":"LS.IFRS18.000010","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000010","section_id":"rule-tax-nci"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"To determine the tax effect of a reconciling item, Lorvelle SA applies its statutory rate of 25% to each item. Which statement is correct?","es":""},"explanation":{"fr":"","en":"Rule to remember: a simplified approach is possible, with an explanation of how the tax was determined (IFRS 18).","es":""},"common_error":{"fr":"","en":"Believing that a rate is set by the standard or that no explanation is due.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It is a possible simplified approach, provided the tax method is explained","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"It is prohibited: the tax effect must be computed by a detailed tax simulation","es":""},"correct":false,"feedback":{"fr":"","en":"A simplified approach (statutory rates, reasonable pro-rata allocation) is possible (IFRS 18).","es":""}},{"id":"C","text":{"fr":"","en":"It is possible, with no explanation since the rate is statutory","es":""},"correct":false,"feedback":{"fr":"","en":"The entity explains how the tax effect was determined, even with the statutory rate (IFRS 18).","es":""}},{"id":"D","text":{"fr":"","en":"It is possible, but the 25% rate is imposed by the standard","es":""},"correct":false,"feedback":{"fr":"","en":"The rate is case data; the standard imposes none (IFRS 18).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000074","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.TRANSITION.EFFECTIVE_DATE"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"MEDIA","tested_point":"EFFECTIVE_DATE_RECALL","difficulty":"BEGINNER","estimated_time_s":40,"lesson_id":"LS.IFRS18.000011","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000011","section_id":"rule-effective"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"From which period openings does IFRS 18 apply?","es":""},"explanation":{"fr":"","en":"Rule to remember: IFRS 18 applies to annual periods beginning on or after 1 January 2027 (IFRS 18).","es":""},"common_error":{"fr":"","en":"Bringing the date forward a year or reasoning on the closing.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"To periods beginning on or after 1 January 2026","es":""},"correct":false,"feedback":{"fr":"","en":"The date is brought forward by a year: it is set at 1 January 2027 (IFRS 18).","es":""}},{"id":"B","text":{"fr":"","en":"To periods ended on or after 31 December 2027","es":""},"correct":false,"feedback":{"fr":"","en":"The rule refers to the opening of the period, not its closing (IFRS 18).","es":""}},{"id":"C","text":{"fr":"","en":"To periods beginning on or after 1 January 2027","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"To periods beginning on or after 1 January 2028","es":""},"correct":false,"feedback":{"fr":"","en":"The date has not been pushed back a year: it is 2027 (IFRS 18).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000075","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.TRANSITION.EFFECTIVE_DATE"],"dimension":"APPLICATION","format":"MINI_CASE","context":"RETAIL","tested_point":"FIRST_PERIOD_BY_YEAR_END","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS18.000011","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000011","section_id":"example"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Read the facts of the three entities and answer.","es":""},"explanation":{"fr":"","en":"Only the opening date of the period matters, whatever the year-end (IFRS 18).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Three entities do not apply IFRS 18 early: Alvane SA (31 December year-end), Brisane SA (31 March year-end) and Cordane SA (30 September year-end).","es":""},"parts":[{"prompt":{"fr":"","en":"What is Brisane SA's first period under IFRS 18?","es":""},"explanation":{"fr":"","en":"Rule to remember: the first period under IFRS 18 is the first beginning on or after 1 January 2027 (IFRS 18).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The period from 1 April 2027 to 31 March 2028","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The period from 1 April 2026 to 31 March 2027, ended after 1 January 2027","es":""},"correct":false,"feedback":{"fr":"","en":"That period begins before 1 January 2027 (IFRS 18).","es":""}},{"id":"C","text":{"fr":"","en":"The period from 1 April 2028 to 31 March 2029","es":""},"correct":false,"feedback":{"fr":"","en":"The period beginning on 1 April 2027 is the first to begin after 1 January 2027 (IFRS 18).","es":""}},{"id":"D","text":{"fr":"","en":"The period from 1 January 2027 to 31 December 2027, whatever the year-end","es":""},"correct":false,"feedback":{"fr":"","en":"The entity's year-end determines its periods; Brisane closes in March (IFRS 18).","es":""}}],"id":"p1","dimension":"APPLICATION"},{"prompt":{"fr":"","en":"Classify each entity according to whether its indicated 2026-2027 period is still under IAS 1 or already under IFRS 18.","es":""},"explanation":{"fr":"","en":"Periods beginning before 1 January 2027 stay under IAS 1; those beginning on or after that date move to IFRS 18 (IFRS 18).","es":""},"common_error":{"fr":"","en":"Relying on the year-end date: it is the start of the year, on or after 1 January 2027, that triggers IFRS 18.","es":""},"format":"CLASSIFICATION","categories":[{"id":"c1","text":{"fr":"","en":"Still under IAS 1","es":""}},{"id":"c2","text":{"fr":"","en":"Already under IFRS 18","es":""}}],"items":[{"id":"i1","text":{"fr":"","en":"Alvane: period from 1 January to 31 December 2026","es":""},"category":"c1"},{"id":"i2","text":{"fr":"","en":"Brisane: period from 1 April 2026 to 31 March 2027","es":""},"category":"c1"},{"id":"i3","text":{"fr":"","en":"Cordane: period from 1 October 2027 to 30 September 2028","es":""},"category":"c2"},{"id":"i4","text":{"fr":"","en":"Alvane: period from 1 January to 31 December 2027","es":""},"category":"c2"}],"id":"p2","dimension":"RECOGNITION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000076","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.TRANSITION.EFFECTIVE_DATE"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"FOOD","tested_point":"EARLY_APPLICATION_DISCLOSURE","difficulty":"INTERMEDIATE","estimated_time_s":80,"lesson_id":"LS.IFRS18.000011","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000011","section_id":"rule-effective"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Dolvane SA, with a 31 December year-end, decides to apply IFRS 18 from its 2026 period. What must it do?","es":""},"explanation":{"fr":"","en":"Rule to remember: early application is permitted and disclosed in the notes (IFRS 18).","es":""},"common_error":{"fr":"","en":"Believing that the standard cannot be applied before its date.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Obtain the IASB's prior approval before applying the standard","es":""},"correct":false,"feedback":{"fr":"","en":"Early application is permitted by the standard itself (IFRS 18).","es":""}},{"id":"B","text":{"fr":"","en":"Wait until 1 January 2027, early application being prohibited","es":""},"correct":false,"feedback":{"fr":"","en":"Early application is permitted (IFRS 18).","es":""}},{"id":"C","text":{"fr":"","en":"Apply the standard without saying so, the mention being required only in 2027","es":""},"correct":false,"feedback":{"fr":"","en":"Early application is disclosed in the notes (IFRS 18).","es":""}},{"id":"D","text":{"fr":"","en":"Apply the standard to the 2026 period and disclose this early application in its notes","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000077","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.TRANSITION.EU_ENDORSEMENT"],"dimension":"RECOGNITION","format":"TRUE_FALSE","context":"FINANCE","tested_point":"EU_ADOPTION_STEP","difficulty":"BEGINNER","estimated_time_s":50,"lesson_id":"LS.IFRS18.000011","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000011","section_id":"rule-eu"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"For a European company subject to the IAS Regulation, applying IFRS 18 in its consolidated accounts requires its adoption in the Union by a Commission act, in addition to its publication by the IASB.","es":""},"explanation":{"fr":"","en":"Adoption in the Union is a step separate from the publication of the standard by the IASB (IFRS 18).","es":""},"common_error":{"fr":"","en":"Confusing the adoption act with a substantive rule.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000078","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.TRANSITION.EU_ENDORSEMENT"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"LOGISTICS","tested_point":"EU_ADOPTION_DOES_NOT_CHANGE_CONTENT","difficulty":"INTERMEDIATE","estimated_time_s":100,"lesson_id":"LS.IFRS18.000011","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000011","section_id":"rule-eu"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"An employee of Merlane SA, a European company, says: \"the European adoption regulation requires a presentation of operating profit different from that of IFRS 18\". Which answer is correct?","es":""},"explanation":{"fr":"","en":"Rule to remember: EU endorsement makes the standard applicable; the substantive rule remains that of IFRS 18 (IFRS 18).","es":""},"common_error":{"fr":"","en":"Attributing to the EU regulation a presentation rule of its own.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"That is correct: the Union may freely change the content of the standards it adopts","es":""},"correct":false,"feedback":{"fr":"","en":"The regulation adopts the standard and its consequential amendments, without creating a rule of its own (IFRS 18).","es":""}},{"id":"B","text":{"fr":"","en":"That is correct, but only for the Union's listed companies","es":""},"correct":false,"feedback":{"fr":"","en":"The regulation creates no distinct presentation rule, listed or not (IFRS 18).","es":""}},{"id":"C","text":{"fr":"","en":"That is false, because the regulation has no effect: IFRS 18 applies without adoption","es":""},"correct":false,"feedback":{"fr":"","en":"In the Union, adoption is what makes the standard applicable (IFRS 18).","es":""}},{"id":"D","text":{"fr":"","en":"That is false: the regulation adopts IFRS 18 without changing its content","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000079","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.TRANSITION.RETROSPECTIVE"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"ENERGY","tested_point":"COMPARATIVE_RESTATED_UNDER_IFRS18","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IFRS18.000012","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000012","section_id":"rule-retro"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"On first application of IFRS 18, the comparative information is restated under IFRS 18.","es":""},"explanation":{"fr":"","en":"IFRS 18 applies retrospectively under IAS 8: the comparative is restated (IFRS 18).","es":""},"common_error":{"fr":"","en":"Believing that only the current period moves to IFRS 18.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT","reserve":true},{"key":"LX.IFRS18.000080","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.TRANSITION.RETROSPECTIVE"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"RETAIL","tested_point":"RECLASS_DOES_NOT_CHANGE_PROFIT","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS18.000012","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000012","section_id":"rule-retro"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"When restating the comparative, Talvane SA reclassifies €44,000 of unwinding of a provision from operating to financing. What is the effect on its comparative?","es":""},"explanation":{"fr":"","en":"Rule to remember: reclassification between categories changes the subtotals, not profit for the period (IFRS 18).","es":""},"common_error":{"fr":"","en":"Making the reclassification an additional expense.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Operating profit increases by €44,000 and so does the financing expense; profit for the period does not change","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Operating profit decreases by €44,000 and so does profit for the period","es":""},"correct":false,"feedback":{"fr":"","en":"The reclassification neither creates nor removes an expense: profit for the period is unchanged (IFRS 18).","es":""}},{"id":"C","text":{"fr":"","en":"Operating profit does not change, only profit for the period increases","es":""},"correct":false,"feedback":{"fr":"","en":"The expense leaves operating: that subtotal changes (IFRS 18).","es":""}},{"id":"D","text":{"fr":"","en":"Profit for the period decreases by €44,000 to reflect the financing expense","es":""},"correct":false,"feedback":{"fr":"","en":"The expense was already in profit; it is not added a second time (IFRS 18).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000081","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.TRANSITION.RETROSPECTIVE"],"dimension":"CALCULATION","format":"CALCULATION","context":"MANUFACTURING","tested_point":"TRANSITION_SUBTOTAL_DIFFERENCE_CALC","difficulty":"INTERMEDIATE","estimated_time_s":160,"lesson_id":"LS.IFRS18.000012","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000012","section_id":"numeric-restatement"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Case data: Zelvane SA had presented under IAS 1 a comparative operating result of €2,205,000, including a share of an associate of €162,000 and interest on cash of €31,500; no unwinding is involved. Restated under IFRS 18, the share and the interest move to investing. Calculate the restated operating profit, the transition difference, then the restated profit before financing and income taxes.","es":""},"explanation":{"fr":"","en":"€2,205,000 − €162,000 − €31,500 = €2,011,500; €2,011,500 − €2,205,000 = −€193,500; €2,011,500 + €193,500 = €2,205,000 (IFRS 18).","es":""},"common_error":{"fr":"","en":"Forgetting that the amounts taken out of operating come back in the second subtotal.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Operating result presented under IAS 1","es":""},"value":"2205000","unit":"EUR"},{"label":{"fr":"","en":"Share of the associate (included)","es":""},"value":"162000","unit":"EUR"},{"label":{"fr":"","en":"Interest on cash (included)","es":""},"value":"31500","unit":"EUR"}],"steps":[{"id":"s1","label":{"fr":"","en":"Restated operating profit","es":""},"answer":2011500,"tolerance":0,"unit":"EUR"},{"id":"s2","label":{"fr":"","en":"Transition difference (restated − presented)","es":""},"answer":-193500,"tolerance":0,"unit":"EUR"},{"id":"s3","label":{"fr":"","en":"Restated profit before financing and income taxes","es":""},"answer":2205000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"s1","meaning":{"fr":"","en":"Restated operating profit","es":""},"expression":"a - b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Operating result presented under IAS 1","es":""},"value":2205000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Share of the associate (included)","es":""},"value":162000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Interest on cash (included)","es":""},"value":31500,"unit":"EUR"}],"result":2011500,"unit":"EUR"},{"step":"s2","meaning":{"fr":"","en":"Transition difference (restated − presented)","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Restated operating profit","es":""},"value":2011500,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Operating result presented under IAS 1","es":""},"value":2205000,"unit":"EUR"}],"result":-193500,"unit":"EUR"}],"references":["REF.IFRS18.TRANSITION.RETROSPECTIVE"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000082","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.TRANSITION.RETROSPECTIVE","IFRS18.CATEGORIES.FINANCING"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"CONSTRUCTION","tested_point":"RESTATEMENT_ENTRY_TO_FINANCING","difficulty":"INTERMEDIATE","estimated_time_s":130,"lesson_id":"LS.IFRS18.000012","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000012","section_id":"entry-restate"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Case convention (presentation entry): to restate its comparative, Belvane SA reclassifies €52,000 of loan interest, recorded in operating expenses, to financing expenses. Post the entry (profit for the period is unchanged).","es":""},"explanation":{"fr":"","en":"Financing expense increases (debit) by €52,000 and operating expense decreases (credit) by the same amount (IFRS 18).","es":""},"common_error":{"fr":"","en":"Debiting operating expense and crediting financing.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"finexp","text":{"fr":"","en":"Financing expense","es":""}},{"id":"opexp","text":{"fr":"","en":"Operating expense","es":""}},{"id":"invinc","text":{"fr":"","en":"Investing income","es":""}},{"id":"opinc","text":{"fr":"","en":"Operating income","es":""}}],"lines":[{"id":"l1","account":"finexp","side":"DEBIT","amount":52000,"given":["account","side"]},{"id":"l2","account":"opexp","side":"CREDIT","amount":52000,"given":["account","side"]}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000083","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.TRANSITION.RECONCILIATION"],"dimension":"CALCULATION","format":"CALCULATION","context":"SERVICES","tested_point":"LINE_BY_LINE_DIFFERENCES","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS18.000012","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000012","section_id":"rule-reconciliation"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Case data: here are three lines of Nelvane SA's comparative. Calculate, for each line, the difference between the amount restated under IFRS 18 and the amount presented under IAS 1 (signed values; expenses negative).","es":""},"explanation":{"fr":"","en":"−€314,400 − (−€372,000) = €57,600; −€225,600 − (−€168,000) = −€57,600; €768,000 − €768,000 = €0: the two differences offset each other and profit is unchanged (IFRS 18).","es":""},"common_error":{"fr":"","en":"Getting the signs of the differences wrong or believing that profit varies.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Other expenses: presented under IAS 1","es":""},"value":"-372000","unit":"EUR"},{"label":{"fr":"","en":"Other expenses: restated under IFRS 18","es":""},"value":"-314400","unit":"EUR"},{"label":{"fr":"","en":"Financing expenses: presented under IAS 1","es":""},"value":"-168000","unit":"EUR"},{"label":{"fr":"","en":"Financing expenses: restated under IFRS 18","es":""},"value":"-225600","unit":"EUR"},{"label":{"fr":"","en":"Profit for the period: presented under IAS 1","es":""},"value":"768000","unit":"EUR"},{"label":{"fr":"","en":"Profit for the period: restated under IFRS 18","es":""},"value":"768000","unit":"EUR"}],"steps":[{"id":"s1","label":{"fr":"","en":"Difference \"Other expenses\"","es":""},"answer":57600,"tolerance":0,"unit":"EUR"},{"id":"s2","label":{"fr":"","en":"Difference \"Financing expenses\"","es":""},"answer":-57600,"tolerance":0,"unit":"EUR"},{"id":"s3","label":{"fr":"","en":"Difference \"Profit for the period\"","es":""},"answer":0,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000084","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.TRANSITION.RECONCILIATION","IFRS18.TRANSITION.RETROSPECTIVE"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"FINANCE","tested_point":"TRANSITION_STATEMENTS_SPOTTING","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS18.000012","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000012","section_id":"rule-reconciliation"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Spot the erroneous statements on the transition to IFRS 18.","es":""},"explanation":{"fr":"","en":"The comparative is restated; the classification changes, hence subtotals, but not profit for the period (IFRS 18).","es":""},"common_error":{"fr":"","en":"Believing that profit varies or that only the current period is restated.","es":""},"format":"ERROR_SPOT","statements":[{"id":"s1","text":{"fr":"","en":"The transition difference of a subtotal is measured by the restated subtotal less the subtotal presented under IAS 1.","es":""},"erroneous":false},{"id":"s2","text":{"fr":"","en":"The restatement of the comparative changes the entity's comparative profit for the period.","es":""},"erroneous":true,"correction":{"fr":"","en":"It changes the classification, hence subtotals, not profit for the period.","es":""}},{"id":"s3","text":{"fr":"","en":"The restatement concerns only the current period, the comparative remaining as published under IAS 1.","es":""},"erroneous":true,"correction":{"fr":"","en":"The comparative is restated under IFRS 18, the application being retrospective (IFRS 18).","es":""}},{"id":"s4","text":{"fr":"","en":"A reconciliation links the restated amounts of the immediately preceding comparative to those presented under IAS 1.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000085","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.TRANSITION.RETROSPECTIVE"],"dimension":"RECOGNITION","format":"MATCHING","context":"DISTRIBUTION","tested_point":"WHAT_CHANGES_FROM_IAS1","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS18.000012","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000012","section_id":"from-ias1"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Match each topic with the change IFRS 18 brings to it compared with IAS 1.","es":""},"explanation":{"fr":"","en":"Each topic has its change: categories, subtotals, MPM note and the new IAS 7 starting point (IFRS 18).","es":""},"common_error":{"fr":"","en":"Mixing the topics up.","es":""},"format":"MATCHING","left":[{"id":"l1","text":{"fr":"","en":"Classification of income and expenses","es":""}},{"id":"l2","text":{"fr":"","en":"Subtotals","es":""}},{"id":"l3","text":{"fr":"","en":"Measures published outside the statements","es":""}},{"id":"l4","text":{"fr":"","en":"Starting point of the cash flow statement","es":""}}],"right":[{"id":"r3","text":{"fr":"","en":"Note with reconciliation and tax effects","es":""}},{"id":"r4","text":{"fr":"","en":"Operating profit","es":""}},{"id":"r1","text":{"fr":"","en":"Five categories, operating by default","es":""}},{"id":"r2","text":{"fr":"","en":"Two required subtotals","es":""}}],"pairs":[{"left":"l1","right":"r1"},{"left":"l2","right":"r2"},{"left":"l3","right":"r3"},{"left":"l4","right":"r4"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000086","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CONSEQUENTIAL.IAS7_STARTING_POINT"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"INDUSTRY","tested_point":"STARTING_POINT_RECALL","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IFRS18.000013","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000013","section_id":"rule-start"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"With the indirect method as amended by IFRS 18, the reconciliation of operating cash flows starts from operating profit.","es":""},"explanation":{"fr":"","en":"It is the new starting point, in place of profit or loss or profit before tax (IFRS 18).","es":""},"common_error":{"fr":"","en":"Keeping the former starting point of the indirect method.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000087","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CONSEQUENTIAL.IAS7_STARTING_POINT"],"dimension":"CALCULATION","format":"CALCULATION","context":"RETAIL","tested_point":"OPERATING_CASH_FLOW_FROM_OPERATING_PROFIT","difficulty":"INTERMEDIATE","estimated_time_s":160,"lesson_id":"LS.IFRS18.000013","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000013","section_id":"numeric-cash"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Case convention: flow calculated before taxes paid, interest and dividends in financing. Pelmane SA has operating profit of €2,625,000, depreciation of €475,000, an impairment loss of €112,500, a gain on disposal of equipment of €56,250 (to be removed), an increase in inventories of €262,500 and an increase in operating payables of €162,500. Calculate the total non-cash adjustments, the change in working capital, then operating cash flow.","es":""},"explanation":{"fr":"","en":"€475,000 + €112,500 − €56,250 = €531,250; −€262,500 + €162,500 = −€100,000; €2,625,000 + €531,250 − €100,000 = €3,056,250 (IFRS 18).","es":""},"common_error":{"fr":"","en":"Adding the disposal gain instead of removing it.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Operating profit","es":""},"value":"2625000","unit":"EUR"},{"label":{"fr":"","en":"Depreciation","es":""},"value":"475000","unit":"EUR"},{"label":{"fr":"","en":"Impairment loss","es":""},"value":"112500","unit":"EUR"},{"label":{"fr":"","en":"Gain on disposal of equipment (to be removed)","es":""},"value":"-56250","unit":"EUR"},{"label":{"fr":"","en":"Increase in inventories","es":""},"value":"-262500","unit":"EUR"},{"label":{"fr":"","en":"Increase in operating payables","es":""},"value":"162500","unit":"EUR"}],"steps":[{"id":"s1","label":{"fr":"","en":"Non-cash adjustments","es":""},"answer":531250,"tolerance":0,"unit":"EUR"},{"id":"s2","label":{"fr":"","en":"Change in working capital","es":""},"answer":-100000,"tolerance":0,"unit":"EUR"},{"id":"s3","label":{"fr":"","en":"Operating cash flow","es":""},"answer":3056250,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"s1","meaning":{"fr":"","en":"Non-cash adjustments","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Depreciation","es":""},"value":475000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Impairment loss","es":""},"value":112500,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"a gain on disposal of equipment of €56,250","es":""},"value":56250,"unit":"EUR"}],"result":531250,"unit":"EUR"}],"references":["REF.IFRS18.IAS7.STARTING.POINT"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000088","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CONSEQUENTIAL.IAS7_STARTING_POINT"],"dimension":"ANALYSIS","format":"MINI_CASE","context":"TECHNOLOGY","tested_point":"SAME_TOTAL_TWO_ROUTES","difficulty":"INTERMEDIATE","estimated_time_s":170,"lesson_id":"LS.IFRS18.000013","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000013","section_id":"numeric-cash"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Read the facts of Ravane SA and answer.","es":""},"explanation":{"fr":"","en":"Both routes give €1,377,500: the starting point changes, not total operating cash flow (IFRS 18).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Case convention: flow calculated before taxes paid. Ravane SA has operating profit of €1,131,000, investing income of €72,500, financing expenses of €174,000, non-cash adjustments of €304,500 and a change in working capital of −€58,000. The former reconciliation started from profit before tax.","es":""},"parts":[{"prompt":{"fr":"","en":"Calculate profit before tax (former starting point) then operating cash flow by the former route.","es":""},"explanation":{"fr":"","en":"€1,131,000 + €72,500 − €174,000 = €1,029,500; €1,029,500 − €72,500 + €174,000 + €304,500 − €58,000 = €1,377,500 (IFRS 18).","es":""},"common_error":{"fr":"","en":"Starting from operating profit without deriving profit before tax, or forgetting to reverse investment income and financing expense.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Operating profit","es":""},"value":"1131000","unit":"EUR"},{"label":{"fr":"","en":"Investing income","es":""},"value":"72500","unit":"EUR"},{"label":{"fr":"","en":"Financing expenses","es":""},"value":"-174000","unit":"EUR"},{"label":{"fr":"","en":"Non-cash adjustments","es":""},"value":"304500","unit":"EUR"},{"label":{"fr":"","en":"Change in working capital","es":""},"value":"-58000","unit":"EUR"}],"steps":[{"id":"s1","label":{"fr":"","en":"Profit before tax","es":""},"answer":1029500,"tolerance":0,"unit":"EUR"},{"id":"s2","label":{"fr":"","en":"Operating cash flow by the former route","es":""},"answer":1377500,"tolerance":0,"unit":"EUR"}],"id":"p1","dimension":"CALCULATION","formula":{"lines":[{"step":"s1","meaning":{"fr":"","en":"Profit before tax","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Operating profit","es":""},"value":1131000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Investing income","es":""},"value":72500,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"financing expenses of €174,000","es":""},"value":174000,"unit":"EUR"}],"result":1029500,"unit":"EUR"}],"references":["REF.IFRS18.IAS7.STARTING.POINT"]}},{"prompt":{"fr":"","en":"What is operating cash flow by the new route, starting from operating profit?","es":""},"explanation":{"fr":"","en":"€1,131,000 + €304,500 − €58,000 = €1,377,500: the total does not change (IFRS 18).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"€1,029,500, profit before tax remaining the starting point","es":""},"correct":false,"feedback":{"fr":"","en":"The starting point is operating profit, with the case adjustments (IFRS 18).","es":""}},{"id":"B","text":{"fr":"","en":"€1,305,000, by removing the investing income from operating profit","es":""},"correct":false,"feedback":{"fr":"","en":"Investing income is already outside operating profit: removing it twice is an error (IFRS 18).","es":""}},{"id":"C","text":{"fr":"","en":"€1,551,500, by adding back the financing expenses as well","es":""},"correct":false,"feedback":{"fr":"","en":"Financing expenses are already outside operating profit: adding them back is double counting (IFRS 18).","es":""}},{"id":"D","text":{"fr":"","en":"€1,377,500, the same total as by the former route","es":""},"correct":true}],"id":"p2","dimension":"RECOGNITION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000089","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CONSEQUENTIAL.IAS7_INTEREST_DIVIDENDS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"AUTOMOTIVE","tested_point":"DIVIDENDS_PAID_FINANCING","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IFRS18.000013","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000013","section_id":"rule-interest"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"An industrial company can choose to classify its dividends paid in operating or in financing flows, as under IAS 7 before the amendment.","es":""},"explanation":{"fr":"","en":"The choice is removed: dividends paid are classified in financing (IFRS 18).","es":""},"common_error":{"fr":"","en":"Keeping the former IAS 7 option.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT","reserve":true},{"key":"LX.IFRS18.000090","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CONSEQUENTIAL.IAS7_INTEREST_DIVIDENDS","IFRS18.SMBA.CLASSIFICATION_EFFECTS"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"FINANCE","tested_point":"LENDER_FOLLOWS_INCOME_STATEMENT","difficulty":"INTERMEDIATE","estimated_time_s":110,"lesson_id":"LS.IFRS18.000013","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000013","section_id":"rule-interest"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Crédilane SA, a lender with a specified main business activity, classifies in operating in its income statement the interest on its loans and the interest it pays on its deposits. Where does it classify the interest it pays in the cash flow statement?","es":""},"explanation":{"fr":"","en":"Rule to remember: the entity with a specified main business activity follows in the cash flow statement the classification of the statement of profit or loss (IFRS 18).","es":""},"common_error":{"fr":"","en":"Applying to a lender the rule of the industrial entity.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"In financing, like any entity that pays interest","es":""},"correct":false,"feedback":{"fr":"","en":"For an entity with a specified main business activity, classification follows that of the statement of profit or loss (IFRS 18).","es":""}},{"id":"B","text":{"fr":"","en":"As in the statement of profit or loss, hence in operating","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"In investing, the deposits funding loans","es":""},"correct":false,"feedback":{"fr":"","en":"No link with investing: classification follows the income statement (IFRS 18).","es":""}},{"id":"D","text":{"fr":"","en":"At the entity's choice between three categories, under the former option","es":""},"correct":false,"feedback":{"fr":"","en":"The choices are removed for many entities; here the classification is determined (IFRS 18).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000091","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CONSEQUENTIAL.IAS7_INTEREST_DIVIDENDS"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"MANUFACTURING","tested_point":"CASH_FLOW_CLASSIFICATION_TABLE","difficulty":"INTERMEDIATE","estimated_time_s":100,"lesson_id":"LS.IFRS18.000013","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000013","section_id":"rule-interest"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Classify each flow of Dorvelle SA, an industrial company with no specified main business activity, in the cash flow statement category under IFRS 18.","es":""},"explanation":{"fr":"","en":"Dividends and interest paid belong to financing; suppliers and salaries to operations (IFRS 18).","es":""},"common_error":{"fr":"","en":"Classifying interest paid in operating flows out of habit.","es":""},"format":"CLASSIFICATION","categories":[{"id":"c1","text":{"fr":"","en":"Operating activities","es":""}},{"id":"c2","text":{"fr":"","en":"Financing activities","es":""}}],"items":[{"id":"i1","text":{"fr":"","en":"Dividends paid to shareholders","es":""},"category":"c2"},{"id":"i2","text":{"fr":"","en":"Interest paid on a bank loan","es":""},"category":"c2"},{"id":"i3","text":{"fr":"","en":"Payments to suppliers of materials","es":""},"category":"c1"},{"id":"i4","text":{"fr":"","en":"Salaries paid to staff","es":""},"category":"c1"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000092","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CONSEQUENTIAL.IAS8_MOVED"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"MEDIA","tested_point":"IAS8_NEW_TITLE","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IFRS18.000014","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000014","section_id":"rule-ias8"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"What is the new title of IAS 8 after the consequential amendments of IFRS 18?","es":""},"explanation":{"fr":"","en":"Rule to remember: IAS 8 is renamed \"Basis of Preparation of Financial Statements\" (IFRS 18).","es":""},"common_error":{"fr":"","en":"Confusing the titles of the three standards.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"\"Presentation of Financial Statements\"","es":""},"correct":false,"feedback":{"fr":"","en":"That is the former title of IAS 1, which IFRS 18 replaces (IFRS 18).","es":""}},{"id":"B","text":{"fr":"","en":"\"Accounting Policies, Changes in Accounting Estimates and Errors\"","es":""},"correct":false,"feedback":{"fr":"","en":"That is the former title of IAS 8, replaced by the new one (IFRS 18).","es":""}},{"id":"C","text":{"fr":"","en":"\"Basis of Preparation of Financial Statements\"","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"\"Presentation and Disclosure in Financial Statements\"","es":""},"correct":false,"feedback":{"fr":"","en":"That is the title of IFRS 18, not of IAS 8 (IFRS 18).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000093","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CONSEQUENTIAL.IAS8_MOVED"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"SERVICES","tested_point":"MOVED_REQUIREMENTS_CLASSIFY","difficulty":"INTERMEDIATE","estimated_time_s":100,"lesson_id":"LS.IFRS18.000014","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000014","section_id":"rule-ias8"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Classify each requirement according to whether it is taken up by the amended IAS 8 or specific to IFRS 18.","es":""},"explanation":{"fr":"","en":"The general requirements of IAS 1 go into the amended IAS 8; subtotals and the MPM note are specific to IFRS 18 (IFRS 18).","es":""},"common_error":{"fr":"","en":"Attributing to IAS 8 the new requirements of IFRS 18.","es":""},"format":"CLASSIFICATION","categories":[{"id":"c1","text":{"fr":"","en":"Taken up by the amended IAS 8","es":""}},{"id":"c2","text":{"fr":"","en":"Specific to IFRS 18","es":""}}],"items":[{"id":"i1","text":{"fr":"","en":"Fair presentation and compliance with IFRS","es":""},"category":"c1"},{"id":"i2","text":{"fr":"","en":"Going concern","es":""},"category":"c1"},{"id":"i3","text":{"fr":"","en":"Accrual basis of accounting","es":""},"category":"c1"},{"id":"i4","text":{"fr":"","en":"Two required subtotals of the statement of profit or loss","es":""},"category":"c2"},{"id":"i5","text":{"fr":"","en":"Note on management-defined performance measures","es":""},"category":"c2"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000094","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CONSEQUENTIAL.IAS8_MOVED"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"TECHNOLOGY","tested_point":"IAS8_STATEMENTS_SPOTTING","difficulty":"INTERMEDIATE","estimated_time_s":100,"lesson_id":"LS.IFRS18.000014","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000014","section_id":"pitfalls"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Spot the erroneous statements on the fate of the general requirements of IAS 1.","es":""},"explanation":{"fr":"","en":"The general requirements are moved to IAS 8, renamed; IFRS 18 applies under IAS 8 (IFRS 18).","es":""},"common_error":{"fr":"","en":"Removing the requirement instead of moving it, or forgetting the renaming.","es":""},"format":"ERROR_SPOT","statements":[{"id":"s1","text":{"fr":"","en":"IFRS 18 applies retrospectively, under IAS 8.","es":""},"erroneous":false},{"id":"s2","text":{"fr":"","en":"The amended IAS 8 receives from IAS 1 the requirements on going concern and the accrual basis.","es":""},"erroneous":false},{"id":"s3","text":{"fr":"","en":"IAS 8 keeps its original title after IFRS 18.","es":""},"erroneous":true,"correction":{"fr":"","en":"It is renamed \"Basis of Preparation of Financial Statements\".","es":""}},{"id":"s4","text":{"fr":"","en":"The fair presentation requirement is removed, no standard takes it up.","es":""},"erroneous":true,"correction":{"fr":"","en":"It is moved, for the most part, to the amended IAS 8.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000095","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CONSEQUENTIAL.IAS33_EPS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"FINANCE","tested_point":"EPS_CALCULATION_STAYS_IN_IAS33","difficulty":"INTERMEDIATE","estimated_time_s":80,"lesson_id":"LS.IFRS18.000014","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000014","section_id":"rule-ias33"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Since IFRS 18, the calculation of earnings per share is no longer dealt with by IAS 33 but by IFRS 18.","es":""},"explanation":{"fr":"","en":"The calculation of earnings per share still belongs to IAS 33; IFRS 18 frames only the numerator of certain additional per-share amounts, a point presented as context (IFRS 18).","es":""},"common_error":{"fr":"","en":"Believing that IFRS 18 takes over the calculation of earnings per share.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IFRS18.000096","source":"V2","standard_id":"IFRS18","concept_ids":["IFRS18.CONSEQUENTIAL.IAS33_EPS","IFRS18.MPM.DISCLOSURES"],"dimension":"CALCULATION","format":"CALCULATION","context":"RETAIL","tested_point":"PER_SHARE_AMOUNT_ARITHMETIC","difficulty":"INTERMEDIATE","estimated_time_s":100,"lesson_id":"LS.IFRS18.000014","review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000014","section_id":"rule-ias33"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Case data: Sorvelle SA publishes an \"adjusted operating profit per share\". Its adjusted operating profit (MPM, management's choice) is reconciled in the notes; the amount attributable to the parent's ordinary equity holders is €4,410,000. The weighted average number of ordinary shares is 2,100,000 (case convention). Calculate the additional per-share amount (in euros, two decimals).","es":""},"explanation":{"fr":"","en":"€4,410,000 / 2,100,000 = €2.10 per share (case convention for the denominator; the per-share calculation belongs to IAS 33).","es":""},"common_error":{"fr":"","en":"Dividing by a period-end number of shares instead of the weighted average given.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Amount attributable to the parent's ordinary equity holders","es":""},"value":"4410000","unit":"EUR"},{"label":{"fr":"","en":"Weighted average number of ordinary shares","es":""},"value":"2100000","unit":"UNITS"}],"steps":[{"id":"s1","label":{"fr":"","en":"Additional per-share amount","es":""},"answer":2.1,"tolerance":0.01,"unit":"EUR"}],"formula":{"lines":[{"step":"s1","meaning":{"fr":"","en":"Additional per-share amount","es":""},"expression":"a / b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Amount attributable to the parent's ordinary equity holders","es":""},"value":4410000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Weighted average number of ordinary shares","es":""},"value":2100000,"unit":"UNITS"}],"result":2.1,"unit":"EUR"}],"rationale":{"fr":"","en":"€4,410,000 / 2,100,000 = €2.10 per share (case convention for the denominator; the per-share calculation belongs to IAS 33).","es":""},"references":["REF.IFRS18.MPM.DISCLOSURES","REF.IFRS18.IAS33.EPS"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000001","standard_id":"IFRS18","concept_ids":["IFRS18.STRUCTURE.REPLACES_IAS1"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000001","tested_point":"QST.IFRS18.000001","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000001","section_id":"rule-replaces"},"references":["IFRS 18 §C8"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 replaces IAS 1 and restructures the presentation requirements for the statement of profit or loss.","es":""},"explanation":{"fr":"","en":"IFRS 18, published in April 2024, replaces IAS 1: the presentation requirements for the statement of profit or loss are restructured and the general requirements of IAS 1 are transferred for the most part to amended IAS 8. Trap: Believing that IFRS 18 merely supplements IAS 1. Rule to remember: IFRS 18 replaces IAS 1 and restructures the statement of profit or loss (IFRS 18, para. C8).","es":""},"common_error":{"fr":"","en":"Believing that IFRS 18 supplements IAS 1 without replacing it or restructuring the statement of profit or loss.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000002","standard_id":"IFRS18","concept_ids":["IFRS18.STRUCTURE.REPLACES_IAS1"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000002","tested_point":"QST.IFRS18.000002","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000001","section_id":"rule-replaces"},"references":["IFRS 18 §C8"],"exercise":{"prompt":{"fr":"","en":"What does IFRS 18 replace, and where is its main change?","es":""},"explanation":{"fr":"","en":"IFRS 18 replaces IAS 1; the major change concerns the statement of profit or loss, the other primary statements being little or not modified (IFRS 18, para. C8). Trap: Confusing the standard that is replaced with the standards merely amended as a consequence. Rule to remember: IFRS 18 replaces IAS 1; IAS 7 and IAS 8 are amended (IFRS 18, para. C8).","es":""},"common_error":{"fr":"","en":"Confusing the replaced standard, IAS 1, with IAS 7 and IAS 8, which are merely amended as a consequence.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It replaces IAS 7; the main change concerns the statement of cash flows.","es":""},"correct":false,"feedback":{"fr":"","en":"IFRS 18 does not replace IAS 7: it amends it through consequential amendments, notably on the starting point of the indirect method (IFRS 18, para. C8). The statement of cash flows is not the seat of the main change. Rule to remember: IAS 7 is amended, not replaced (IFRS 18, para. C8).","es":""}},{"id":"B","text":{"fr":"","en":"It replaces IAS 1; the main change concerns the statement of profit or loss.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"It replaces IAS 8; the main change concerns changes in accounting policies.","es":""},"correct":false,"feedback":{"fr":"","en":"IAS 8 is not replaced: it is amended and renamed \"Basis of Preparation of Financial Statements\" to receive requirements from IAS 1 (IFRS 18, para. C8). Rule to remember: IFRS 18 replaces IAS 1, it does not replace IAS 8 (IFRS 18, para. C8).","es":""}},{"id":"D","text":{"fr":"","en":"It replaces IAS 1; the main change concerns the statement of financial position.","es":""},"correct":false,"feedback":{"fr":"","en":"The statement of financial position is little modified by IFRS 18: the major change concerns the statement of profit or loss (IFRS 18, para. C8). Rule to remember: Balance sheet little modified, profit or loss restructured (IFRS 18, para. C8).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000003","standard_id":"IFRS18","concept_ids":["IFRS18.STRUCTURE.REPLACES_IAS1"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000003","tested_point":"QST.IFRS18.000003","difficulty":"BEGINNER","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000001","section_id":"rule-replaces"},"references":["IFRS 18 §C8"],"exercise":{"prompt":{"fr":"","en":"A colleague presents the new standard to the accounting team of Alpha SA. Which of the colleague's statements about the content of IFRS 18 are correct? More than one answer is possible.","es":""},"explanation":{"fr":"","en":"IFRS 18 replaces IAS 1; the major change concerns the statement of profit or loss, restructured, and the general requirements of IAS 1 move for the most part into amended IAS 8 (IFRS 18, para. C8). Trap: Believing that IFRS 18 also replaces IAS 7 or removes a primary statement. Rule to remember: IFRS 18 replaces IAS 1; IAS 7 and IAS 8 are amended (IFRS 18, para. C8).","es":""},"common_error":{"fr":"","en":"Believing that IFRS 18 also replaces IAS 7 or removes a primary statement.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"IFRS 18 replaces IAS 7 and the statement of cash flows is presented under a new standard.","es":""},"correct":false,"feedback":{"fr":"","en":"IAS 7 is not replaced: it is amended through consequential amendments, and the statement of cash flows remains governed by it (IFRS 18, para. C8). Rule to remember: IFRS 18 replaces IAS 1 and amends IAS 7 (IFRS 18, para. C8).","es":""}},{"id":"B","text":{"fr":"","en":"The general requirements of IAS 1 are transferred for the most part to amended IAS 8.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"IFRS 18 replaces IAS 1.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The main change concerns the presentation of the statement of profit or loss, which is restructured.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"IFRS 18 removes the statement of changes in equity from the set of primary statements.","es":""},"correct":false,"feedback":{"fr":"","en":"The structure of the statement of changes in equity is unchanged from IAS 1: IFRS 18 does not remove it (IFRS 18, para. C8). Rule to remember: The statements other than profit or loss are maintained or little modified (IFRS 18, para. C8).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000004","standard_id":"IFRS18","concept_ids":["IFRS18.STRUCTURE.STATEMENTS_STRUCTURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000004","tested_point":"QST.IFRS18.000004","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000001","section_id":"rule-statements"},"references":["IFRS 18 §88","IFRS 18 §107"],"exercise":{"prompt":{"fr":"","en":"Which statement correctly describes the structure of the primary statements under IFRS 18?","es":""},"explanation":{"fr":"","en":"Under IFRS 18, the statement of financial position is little modified, the structure of the statement of other comprehensive income and that of the statement of changes in equity are unchanged from IAS 1; the major change concerns the statement of profit or loss (IFRS 18, paras. 88 and 107). Trap: Believing that the whole of financial presentation is overhauled. Rule to remember: Profit or loss restructured, other statements maintained or little modified (IFRS 18, paras. 88 and 107).","es":""},"common_error":{"fr":"","en":"Believing that IFRS 18 overhauls all primary statements, or applies the categories to a statement other than profit or loss.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The four primary statements are entirely overhauled compared with IAS 1 and have to be presented afresh.","es":""},"correct":false,"feedback":{"fr":"","en":"IFRS 18 does not overhaul the four statements: the statement of financial position is little modified and two other statements are unchanged in structure (IFRS 18, paras. 88 and 107). Rule to remember: One statement restructured, the others maintained or little modified (IFRS 18, paras. 88 and 107).","es":""}},{"id":"B","text":{"fr":"","en":"The statement of financial position is restructured into categories, the statement of profit or loss being maintained.","es":""},"correct":false,"feedback":{"fr":"","en":"The restructuring by categories targets the statement of profit or loss and not the statement of financial position, which is little modified (IFRS 18, paras. 88 and 107). Rule to remember: Categories concern profit or loss (IFRS 18, paras. 88 and 107).","es":""}},{"id":"C","text":{"fr":"","en":"The statement of other comprehensive income is restructured into five categories, the statement of profit or loss remaining unchanged.","es":""},"correct":false,"feedback":{"fr":"","en":"The five categories classify the income and expenses of the statement of profit or loss; the structure of the statement of other comprehensive income is unchanged from IAS 1 (IFRS 18, paras. 88 and 107). Rule to remember: Categories apply to the statement of profit or loss (IFRS 18, paras. 88 and 107).","es":""}},{"id":"D","text":{"fr":"","en":"The statement of profit or loss is restructured, the other primary statements being maintained or little modified.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000005","standard_id":"IFRS18","concept_ids":["IFRS18.STRUCTURE.STATEMENTS_STRUCTURE"],"dimension":"ANALYSIS","context":"V1_QST.IFRS18.000005","tested_point":"QST.IFRS18.000005","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000001","section_id":"rule-statements"},"references":["IFRS 18 §88","IFRS 18 §107"],"exercise":{"prompt":{"fr":"","en":"A trainee summarises the effects of IFRS 18 on the primary statements of Equinoxe SA. Which of the trainee's sentences is wrong?","es":""},"explanation":{"fr":"","en":"Under IFRS 18, the statement of financial position is little modified, the structure of the statement of other comprehensive income and that of the statement of changes in equity are unchanged from IAS 1; the major change concerns the statement of profit or loss (IFRS 18, paras. 88 and 107). The wrong sentence attributes an overhaul to maintained statements. Trap: Extending the overhaul of profit or loss to the other statements. Rule to remember: Only the statement of profit or loss is restructured (IFRS 18, paras. 88 and 107).","es":""},"common_error":{"fr":"","en":"Extending to the statement of changes in equity or to that of other comprehensive income the overhaul specific to the statement of profit or loss.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The statement of changes in equity is entirely overhauled.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The major change concerns the statement of profit or loss.","es":""},"correct":false,"feedback":{"fr":"","en":"This sentence is correct: the major change of IFRS 18 concerns the statement of profit or loss (IFRS 18, paras. 88 and 107). It is not the wrong sentence; the error attributes an overhaul to primary statements whose structure is maintained.","es":""}},{"id":"C","text":{"fr":"","en":"The statement of financial position is little modified from IAS 1.","es":""},"correct":false,"feedback":{"fr":"","en":"This sentence is correct: the statement of financial position is little modified (IFRS 18, paras. 88 and 107). It is not the wrong sentence; little modified does not mean overhauled, and it is the idea of an overhaul of the other statements that is false.","es":""}},{"id":"D","text":{"fr":"","en":"The structure of the statement of other comprehensive income is unchanged from IAS 1.","es":""},"correct":false,"feedback":{"fr":"","en":"This sentence is correct: the structure of the statement of other comprehensive income is unchanged (IFRS 18, paras. 88 and 107). It is not the wrong sentence; the error is the sentence that says it is overhauled, along with changes in equity.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000006","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.FIVE_CATEGORIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000006","tested_point":"QST.IFRS18.000006","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000002","section_id":"rule-five"},"references":["IFRS 18 §47"],"exercise":{"prompt":{"fr":"","en":"What are the five categories into which IFRS 18 classifies the income and expenses of the statement of profit or loss?","es":""},"explanation":{"fr":"","en":"All income and expenses in the statement of profit or loss are classified in one of five categories: operating, investing, financing, income taxes and discontinued operations (IFRS 18, para. 47). Trap: Adding a category for exceptional items or cash. Rule to remember: Five categories: operating, investing, financing, income taxes, discontinued operations (IFRS 18, para. 47).","es":""},"common_error":{"fr":"","en":"Adding to the five categories a category for exceptional items, cash or equity.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Operating, investing, financing, exceptional items and income taxes.","es":""},"correct":false,"feedback":{"fr":"","en":"Exceptional items do not form a category: volatile or non-recurring items arising from operating activities stay in the operating category, and discontinued operations have their own category (IFRS 18, para. 47). Rule to remember: Five categories, including discontinued operations, with no category for exceptional items (IFRS 18, para. 47).","es":""}},{"id":"B","text":{"fr":"","en":"Operations, cash, financing, income taxes and discontinued operations.","es":""},"correct":false,"feedback":{"fr":"","en":"Cash is not a category: cash and cash equivalents generate income and expenses that fall in the investing category (IFRS 18, para. 47). Rule to remember: Cash belongs to investing (IFRS 18, para. 47).","es":""}},{"id":"C","text":{"fr":"","en":"Operating, investing, financing, income taxes and discontinued operations.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Operating, financial, exceptional, income taxes and equity.","es":""},"correct":false,"feedback":{"fr":"","en":"Equity is not a category of the statement of profit or loss, and exceptional items do not form one either; the categories are operating, investing, financing, income taxes and discontinued operations (IFRS 18, para. 47). Rule to remember: The five categories classify income and expenses (IFRS 18, para. 47).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000007","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.FIVE_CATEGORIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000007","tested_point":"QST.IFRS18.000007","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000002","section_id":"rule-five"},"references":["IFRS 18 §47"],"exercise":{"prompt":{"fr":"","en":"All the income and expenses in the statement of profit or loss are classified in one of the five IFRS 18 categories.","es":""},"explanation":{"fr":"","en":"All income and expenses in the statement of profit or loss are classified in one of five categories: operating, investing, financing, income taxes and discontinued operations (IFRS 18, para. 47). Trap: Leaving an item deemed unusual outside any category. Rule to remember: Each income and each expense belongs to one of the five categories (IFRS 18, para. 47).","es":""},"common_error":{"fr":"","en":"Leaving an income or expense deemed unusual outside any category.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000008","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.FIVE_CATEGORIES"],"dimension":"APPLICATION","context":"V1_QST.IFRS18.000008","tested_point":"QST.IFRS18.000008","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000002","section_id":"rule-five"},"references":["IFRS 18 §47"],"exercise":{"prompt":{"fr":"","en":"Flore SA, an industrial entity with no specified main business activity (case convention), records three items: (a) interest on a bank loan taken out to raise finance, (b) the proceeds from the sale of its goods, (c) an income tax expense. Which classification by category is correct?","es":""},"explanation":{"fr":"","en":"Interest on a loan raised to obtain finance is financing; the proceeds from sales, which fall in no other category, are operating; income tax has its own category (IFRS 18, para. 47). Case facts: an entity with no specified main business activity, which avoids the classification exceptions specific to such entities. Trap: Classifying as operating everything not explicitly excluded, including loan interest. Rule to remember: Financing for loans raised to obtain finance, operating by default, tax separately (IFRS 18, para. 47).","es":""},"common_error":{"fr":"","en":"Classifying loan interest as operating, or the proceeds of goods sold as investing.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"(a) operating; (b) operating; (c) income taxes.","es":""},"correct":false,"feedback":{"fr":"","en":"Interest on a loan taken out solely to raise finance falls in the financing category, not the operating one, which receives what is not classified in any other category (IFRS 18, para. 47). Rule to remember: A bank loan raised to obtain finance is financing (IFRS 18, para. 47).","es":""}},{"id":"B","text":{"fr":"","en":"(a) financing; (b) operating; (c) operating.","es":""},"correct":false,"feedback":{"fr":"","en":"The income tax expense of IAS 12 has its own category, income taxes, and is not classified as operating (IFRS 18, para. 47). Rule to remember: Income tax has its own category (IFRS 18, para. 47).","es":""}},{"id":"C","text":{"fr":"","en":"(a) financing; (b) operating; (c) income taxes.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"(a) financing; (b) investing; (c) income taxes.","es":""},"correct":false,"feedback":{"fr":"","en":"The proceeds from the sale of goods of an industrial entity are not a return from an asset independent of its other resources: they fall in the operating category, not in investing (IFRS 18, para. 47). Rule to remember: Ordinary activity stays in operating (IFRS 18, para. 47).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000009","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.OPERATING"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000009","tested_point":"QST.IFRS18.000009","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000002","section_id":"rule-operating"},"references":["IFRS 18 §52"],"exercise":{"prompt":{"fr":"","en":"The operating category comprises the income and expenses that are not classified in any of the other four categories.","es":""},"explanation":{"fr":"","en":"The operating category comprises the income and expenses that are not classified in any of the other four categories; it may include volatile or non-recurring items when they arise from operating activities (IFRS 18, para. 52). Trap: Defining the operating category by a closed list of ordinary expenses. Rule to remember: Operating = residual category (IFRS 18, para. 52).","es":""},"common_error":{"fr":"","en":"Defining the operating category by a closed list of ordinary expenses instead of making it the residual category.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000010","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.OPERATING"],"dimension":"APPLICATION","context":"V1_QST.IFRS18.000010","tested_point":"QST.IFRS18.000010","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000002","section_id":"rule-operating"},"references":["IFRS 18 §52"],"exercise":{"prompt":{"fr":"","en":"Mélèze SA pays EUR 90,000 to settle a commercial dispute with a customer. The item is non-recurring but arises from its operating activities (case facts; entity with no specified main business activity). In which category of the statement of profit or loss is this expense classified?","es":""},"explanation":{"fr":"","en":"The operating category comprises the income and expenses that are not classified in any of the other four categories; it may include volatile or non-recurring items when they arise from operating activities (IFRS 18, para. 52). Trap: Taking an expense out of operating because it is unusual. Rule to remember: A non-recurring item arising from operating activities stays in operating (IFRS 18, para. 52).","es":""},"common_error":{"fr":"","en":"Taking out of the operating category an expense because it is unusual or non-recurring.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"In the operating category, because a non-recurring item arising from operating activities stays there.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"In the investing category, because the item will not recur and is not part of ordinary activity.","es":""},"correct":false,"feedback":{"fr":"","en":"A non-recurring nature does not move an item to investing: that category receives the income and expenses of assets that generate a return independently of the entity's other resources, which is not the case here (IFRS 18, para. 52). Rule to remember: Non-recurring does not mean outside operating (IFRS 18, para. 52).","es":""}},{"id":"C","text":{"fr":"","en":"In the financing category, because settling a dispute extinguishes a debt towards the customer.","es":""},"correct":false,"feedback":{"fr":"","en":"The financing category receives the income and expenses of liabilities arising solely from transactions that involve only raising finance, which a commercial dispute is not (IFRS 18, para. 52). Rule to remember: A trade liability is not a financing liability (IFRS 18, para. 52).","es":""}},{"id":"D","text":{"fr":"","en":"In the discontinued operations category, because the item is non-recurring and its amount is significant.","es":""},"correct":false,"feedback":{"fr":"","en":"The discontinued operations category takes up the items of IFRS 5; a non-recurring commercial dispute is not one of them, whatever its amount (IFRS 18, para. 52). Rule to remember: Discontinued operations come from IFRS 5, not from being exceptional (IFRS 18, para. 52).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000011","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.OPERATING"],"dimension":"CALCULATION","context":"V1_QST.IFRS18.000011","tested_point":"QST.IFRS18.000011","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000002","section_id":"rule-operating"},"references":["IFRS 18 §52"],"exercise":{"prompt":{"fr":"","en":"Orion SA, an industrial entity with no specified main business activity (case convention), reports for the year: sales revenue {revenue}; cost of sales {cost_of_sales}; distribution costs {distribution_costs}; administrative expenses {admin_expenses}; a payment to settle a commercial dispute, a non-recurring item arising from its operating activities, {litigation_settlement}; interest on a bank loan taken out to raise finance, {bank_loan_interest}; share of profit of an equity-accounted joint venture, {jv_share_of_profit}. Classify each item in its category, then calculate the total of the operating category.","es":""},"explanation":{"fr":"","en":"Method: the loan interest is financing and the joint venture share is investing; they leave the operating category (IFRS 18, para. 52). What stays are the revenue, the costs, the expenses and the non-recurring payment arising from operating activities. Total = 5,200,000 − 3,100,000 − 650,000 − 420,000 − 90,000 = 940,000. Trap: Deducting the loan interest or adding the joint venture share to operating profit. Rule to remember: Operating profit sums the operating category alone (IFRS 18, para. 52).","es":""},"common_error":{"fr":"","en":"Deducting the loan interest or adding the joint venture share to the total of the operating category.","es":""},"format":"CALCULATION","placeholders":[{"id":"revenue","value":"5200000","unit":"EUR"},{"id":"cost_of_sales","value":"3100000","unit":"EUR"},{"id":"distribution_costs","value":"650000","unit":"EUR"},{"id":"admin_expenses","value":"420000","unit":"EUR"},{"id":"litigation_settlement","value":"90000","unit":"EUR"},{"id":"bank_loan_interest","value":"120000","unit":"EUR"},{"id":"jv_share_of_profit","value":"80000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Sales revenue","es":""},"value":"5200000","unit":"EUR"},{"label":{"fr":"","en":"Cost of sales","es":""},"value":"3100000","unit":"EUR"},{"label":{"fr":"","en":"Distribution costs","es":""},"value":"650000","unit":"EUR"},{"label":{"fr":"","en":"Administrative expenses","es":""},"value":"420000","unit":"EUR"},{"label":{"fr":"","en":"Payment to settle a commercial dispute","es":""},"value":"90000","unit":"EUR"},{"label":{"fr":"","en":"Interest on the bank loan raised to obtain finance","es":""},"value":"120000","unit":"EUR"},{"label":{"fr":"","en":"Share of profit of the joint venture","es":""},"value":"80000","unit":"EUR"}],"steps":[{"id":"OPERATING_PROFIT","label":{"fr":"","en":"Total of the operating category","es":""},"answer":940000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"OPERATING_PROFIT","meaning":{"fr":"","en":"Total of the operating category","es":""},"expression":"a - b - c - d - e","variables":[{"symbol":"a","meaning":{"fr":"","en":"Sales revenue","es":""},"value":5200000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Cost of sales","es":""},"value":3100000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Distribution costs","es":""},"value":650000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Administrative expenses","es":""},"value":420000,"unit":"EUR"},{"symbol":"e","meaning":{"fr":"","en":"Payment to settle a commercial dispute","es":""},"value":90000,"unit":"EUR"}],"result":940000,"unit":"EUR"}],"rationale":{"fr":"","en":"Operating profit sums the operating category alone (IFRS 18, para. 52).","es":""},"references":["REF.IFRS18.52"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000012","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.INVESTING"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000012","tested_point":"QST.IFRS18.000012","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000003","section_id":"rule-investing"},"references":["IFRS 18 §53"],"exercise":{"prompt":{"fr":"","en":"In which IFRS 18 category are the income and expenses of equity-accounted entities classified?","es":""},"explanation":{"fr":"","en":"The investing category comprises the income and expenses of assets that generate a return individually and largely independently of the entity's other resources, notably associates and joint ventures; the income and expenses of equity-accounted entities are always classified there (IFRS 18, para. 53). Trap: Classifying as operating the share of result of an associate whose business is close to the investor's. Rule to remember: Equity-accounted: always investing (IFRS 18, para. 53).","es":""},"common_error":{"fr":"","en":"Classifying as operating the share of result of an equity-accounted entity because its business is close to the investor's.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"In the operating category, as part of the investor's ordinary activities.","es":""},"correct":false,"feedback":{"fr":"","en":"The income and expenses of equity-accounted entities are classified in investing, not in operating, even if they are recurring for the investor (IFRS 18, para. 53). Rule to remember: Equity-accounted: investing (IFRS 18, para. 53).","es":""}},{"id":"B","text":{"fr":"","en":"In the financing category, because the investment is funded by capital.","es":""},"correct":false,"feedback":{"fr":"","en":"Funding the investment with capital has no bearing: the financing category targets liabilities raising finance, and equity-accounted entities are classified in investing (IFRS 18, para. 53). Rule to remember: How the investment is funded is irrelevant to classification (IFRS 18, para. 53).","es":""}},{"id":"C","text":{"fr":"","en":"In the operating or investing category, at the entity's choice according to its policy.","es":""},"correct":false,"feedback":{"fr":"","en":"The classification of the income and expenses of equity-accounted entities is not left to the entity's choice: they are always classified in investing (IFRS 18, para. 53). Rule to remember: No choice of category for equity-accounted entities (IFRS 18, para. 53).","es":""}},{"id":"D","text":{"fr":"","en":"In the investing category.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000013","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.INVESTING"],"dimension":"APPLICATION","context":"V1_QST.IFRS18.000013","tested_point":"QST.IFRS18.000013","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000003","section_id":"rule-investing"},"references":["IFRS 18 §53"],"exercise":{"prompt":{"fr":"","en":"Tiare SA, an industrial entity with no specified main business activity (case convention), places its cash and cash equivalents in interest-bearing accounts and receives EUR 24,000 of interest. In which category is this interest classified?","es":""},"explanation":{"fr":"","en":"The investing category comprises the income and expenses of assets that generate a return individually and largely independently of the entity's other resources, including cash and cash equivalents (IFRS 18, para. 53). Trap: Classifying cash income as operating because it is recurring. Rule to remember: Interest on cash and cash equivalents: investing (IFRS 18, para. 53).","es":""},"common_error":{"fr":"","en":"Classifying cash income as operating because it is regular or linked to working capital.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"In the operating category, since the cash is used to fund working capital.","es":""},"correct":false,"feedback":{"fr":"","en":"Using cash for working capital does not make it an operating asset: income from cash and cash equivalents falls in the investing category (IFRS 18, para. 53). Rule to remember: Interest-bearing cash is investing (IFRS 18, para. 53).","es":""}},{"id":"B","text":{"fr":"","en":"In the investing category, since cash and cash equivalents belong there.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"In the financing category, since it offsets Tiare's financing expenses.","es":""},"correct":false,"feedback":{"fr":"","en":"Interest received is not financing income: the financing category receives the income and expenses of liabilities raising finance, and cash belongs to investing (IFRS 18, para. 53). Rule to remember: No offsetting between categories (IFRS 18, para. 53).","es":""}},{"id":"D","text":{"fr":"","en":"In the operating category, since this interest is received regularly every year.","es":""},"correct":false,"feedback":{"fr":"","en":"The regularity of the interest is not the criterion: it is earned on assets, cash and cash equivalents, which fall in the investing category (IFRS 18, para. 53). Rule to remember: The type of asset decides, not recurrence (IFRS 18, para. 53).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000015","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.FINANCING"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000015","tested_point":"QST.IFRS18.000015","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000003","section_id":"rule-financing"},"references":["IFRS 18 §59"],"exercise":{"prompt":{"fr":"","en":"Interest on a bank loan taken out to raise finance falls in the operating category, like the other expenses of the period.","es":""},"explanation":{"fr":"","en":"The financing category comprises the income and expenses of liabilities arising solely from transactions that involve only raising finance (bank loans, bonds, mortgages) and certain interest items recognised under other standards (IFRS 18, para. 59). Trap: Leaving interest expenses in the residual category. Rule to remember: Loans raised to obtain finance: financing category (IFRS 18, para. 59).","es":""},"common_error":{"fr":"","en":"Leaving the interest expenses of a loan in the operating category, the residual category.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000016","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.FINANCING"],"dimension":"APPLICATION","context":"V1_QST.IFRS18.000016","tested_point":"QST.IFRS18.000016","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000003","section_id":"rule-financing"},"references":["IFRS 18 §59"],"exercise":{"prompt":{"fr":"","en":"Hélios SA, an industrial entity with no specified main business activity (case convention), operates a site for which it has recognised a decommissioning provision. The unwinding of the discount on that provision for the year is EUR 18,000. In which category is it classified?","es":""},"explanation":{"fr":"","en":"The financing category comprises the income and expenses of liabilities arising solely from transactions that involve only raising finance, as well as certain interest items recognised under other standards, including the unwinding of the discount on a decommissioning provision (IFRS 18, para. 59). Trap: Classifying as operating any expense linked to the operation of the site. Rule to remember: The unwinding of the discount on a decommissioning provision is classified in financing (IFRS 18, para. 59).","es":""},"common_error":{"fr":"","en":"Classifying as operating the unwinding of discount on a decommissioning provision because it relates to the operated site.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"In the operating category, since the provision relates to the operation of the entity's site and not to a liability raising finance.","es":""},"correct":false,"feedback":{"fr":"","en":"The link of the provision to the operation of the site is not enough: the unwinding of discount on a decommissioning provision is among the interest items classified in financing (IFRS 18, para. 59). Rule to remember: Unwinding of decommissioning discount: financing (IFRS 18, para. 59).","es":""}},{"id":"B","text":{"fr":"","en":"In the investing category, since the site is an asset that generates a return for the entity.","es":""},"correct":false,"feedback":{"fr":"","en":"The operated site is not classified in investing for an entity with no specified main business activity: the unwinding of discount on a provision is an interest item attached to financing (IFRS 18, para. 59). Rule to remember: Unwinding is not an asset return (IFRS 18, para. 59).","es":""}},{"id":"C","text":{"fr":"","en":"In the income taxes category, since decommissioning has later tax effects.","es":""},"correct":false,"feedback":{"fr":"","en":"The income taxes category takes up the taxes of IAS 12, not the unwinding of discount on a provision, whose possible tax effects are separate (IFRS 18, para. 59). Rule to remember: Income taxes have their own scope (IFRS 18, para. 59).","es":""}},{"id":"D","text":{"fr":"","en":"In the financing category, as certain interest items recognised under other standards.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000018","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.TAXES_AND_DISCONTINUED"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000018","tested_point":"QST.IFRS18.000018","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000004","section_id":"rule-tax-disc"},"references":["IFRS 18 §67","IFRS 18 §68"],"exercise":{"prompt":{"fr":"","en":"The IFRS 18 discontinued operations category groups the income and expenses of any activity sold during the year, whether or not it meets the definition in IFRS 5.","es":""},"explanation":{"fr":"","en":"The income taxes category takes up the income taxes of IAS 12, and the discontinued operations category those of IFRS 5, together with the related exchange differences (IFRS 18, paras. 67 and 68). Classification in discontinued operations therefore requires meeting the definition in IFRS 5. Trap: Classifying any activity sold as discontinued. Rule to remember: IFRS 18 discontinued operations = IFRS 5 discontinued operations (IFRS 18, paras. 67 and 68).","es":""},"common_error":{"fr":"","en":"Classifying any activity sold as discontinued, without checking the definition in IFRS 5.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000019","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.TAXES_AND_DISCONTINUED"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000019","tested_point":"QST.IFRS18.000019","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000004","section_id":"rule-tax-disc"},"references":["IFRS 18 §67","IFRS 18 §68"],"exercise":{"prompt":{"fr":"","en":"Which standard defines the income taxes whose expense is classified in the IFRS 18 income taxes category?","es":""},"explanation":{"fr":"","en":"The income taxes category takes up the income taxes of IAS 12, and the discontinued operations category those of IFRS 5, together with the related exchange differences (IFRS 18, paras. 67 and 68). It is therefore IAS 12 that sets the scope of the tax category. Trap: Looking for an IFRS 18 definition of its own for taxes. Rule to remember: IFRS 18 income taxes = IAS 12 income taxes (IFRS 18, paras. 67 and 68).","es":""},"common_error":{"fr":"","en":"Looking in IFRS 18 itself, or in another standard, for the definition of income taxes.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"IAS 37.","es":""},"correct":false,"feedback":{"fr":"","en":"IAS 37 deals with provisions, contingent liabilities and contingent assets: it does not define income taxes, which the category takes up from IAS 12 (IFRS 18, paras. 67 and 68). Rule to remember: Income taxes come from IAS 12 (IFRS 18, paras. 67 and 68).","es":""}},{"id":"B","text":{"fr":"","en":"IAS 12.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"IFRS 15.","es":""},"correct":false,"feedback":{"fr":"","en":"IFRS 15 deals with revenue from contracts with customers, not income taxes: the tax category takes up those of IAS 12 (IFRS 18, paras. 67 and 68). Rule to remember: Income taxes come from IAS 12 (IFRS 18, paras. 67 and 68).","es":""}},{"id":"D","text":{"fr":"","en":"IAS 21.","es":""},"correct":false,"feedback":{"fr":"","en":"IAS 21 deals with exchange rates; its exchange differences are classified with the item that gave rise to them, and those of an income tax follow the tax category, defined by IAS 12 (IFRS 18, paras. 67 and 68). Rule to remember: The scope of taxes is that of IAS 12 (IFRS 18, paras. 67 and 68).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000020","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.TAXES_AND_DISCONTINUED"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000020","tested_point":"QST.IFRS18.000020","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000004","section_id":"rule-tax-disc"},"references":["IFRS 18 §67","IFRS 18 §68"],"exercise":{"prompt":{"fr":"","en":"Pavot SA applies IFRS 18. Which statements about the classification of its income and expenses are correct? More than one answer is possible.","es":""},"explanation":{"fr":"","en":"The income taxes category takes up the income taxes of IAS 12 and the discontinued operations category those of IFRS 5, together with the related exchange differences (IFRS 18, paras. 67 and 68). A property tax unrelated to profit falls outside the scope of IAS 12, and the exchange difference of a discontinued operation follows the latter. Trap: Widening the tax category to any levy, or separating exchange differences from the item that gave rise to them. Rule to remember: IAS 12 taxes and IFRS 5 activities, with their exchange differences (IFRS 18, paras. 67 and 68).","es":""},"common_error":{"fr":"","en":"Widening the income taxes category to any levy, or classifying as operating an exchange difference on a discontinued operation.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"An exchange difference relating to an income tax is classified with that tax, in the income taxes category.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"An exchange difference relating to a discontinued operation is classified in the operating category.","es":""},"correct":false,"feedback":{"fr":"","en":"An exchange difference relating to a discontinued operation follows the discontinued operations category, not the operating category (IFRS 18, paras. 67 and 68). Rule to remember: Exchange differences follow the item that gave rise to them (IFRS 18, paras. 67 and 68).","es":""}},{"id":"C","text":{"fr":"","en":"A property tax unrelated to profit is classified in the income taxes category.","es":""},"correct":false,"feedback":{"fr":"","en":"The income taxes category takes up the income taxes of IAS 12: a property tax unrelated to profit is not part of it (IFRS 18, paras. 67 and 68). Rule to remember: Only the income taxes of IAS 12 enter this category (IFRS 18, paras. 67 and 68).","es":""}},{"id":"D","text":{"fr":"","en":"The result of a disposed branch that meets the definition in IFRS 5 is classified in the discontinued operations category.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Its current income tax expense, within the meaning of IAS 12, is classified in the income taxes category.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000021","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.FX_DIFFERENCES"],"dimension":"APPLICATION","context":"V1_QST.IFRS18.000021","tested_point":"QST.IFRS18.000021","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000004","section_id":"rule-fx"},"references":["IFRS 18 §B65"],"exercise":{"prompt":{"fr":"","en":"Cyprès SA, whose functional currency is the euro, has borrowed USD 2,000,000 from a bank, a transaction of pure financing (case facts). At the closing date, the change in the exchange rate gives rise to an exchange loss of EUR 35,000 on this loan. In which category is this loss classified?","es":""},"explanation":{"fr":"","en":"Exchange differences arising under IAS 21 are classified in the same category as the item that gave rise to them, unless that involves undue cost or effort; a trade receivable is operating, a loan of pure financing is financing (IFRS 18, para. B65). Trap: Classifying any exchange difference as operating. Rule to remember: Exchange difference in the category of the originating item (IFRS 18, para. B65).","es":""},"common_error":{"fr":"","en":"Classifying any exchange difference as operating without looking at the item that gave rise to it.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"In the operating category, like any exchange difference on a foreign currency item.","es":""},"correct":false,"feedback":{"fr":"","en":"Exchange differences are not all operating: they follow the item that gave rise to them, a loan of pure financing falling here in financing (IFRS 18, para. B65). Rule to remember: The exchange difference follows its originating item (IFRS 18, para. B65).","es":""}},{"id":"B","text":{"fr":"","en":"In the investing category, because an exchange difference is not an interest cost.","es":""},"correct":false,"feedback":{"fr":"","en":"Investing receives the income and expenses of independent assets, not the exchange difference on a loan: this follows the category of the loan, financing (IFRS 18, para. B65). Rule to remember: Exchange differences have no category of their own (IFRS 18, para. B65).","es":""}},{"id":"C","text":{"fr":"","en":"In the financing category, like the item that gave rise to it.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"In the operating category, because a loss is an ordinary expense.","es":""},"correct":false,"feedback":{"fr":"","en":"Being an expense is not the criterion: an exchange loss follows the category of the item that gave rise to it and can fall in financing, as here (IFRS 18, para. B65). Rule to remember: The sign of the difference does not decide the category (IFRS 18, para. B65).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000023","standard_id":"IFRS18","concept_ids":["IFRS18.SUBTOTALS.OPERATING_PROFIT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000023","tested_point":"QST.IFRS18.000023","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000005","section_id":"rule-operating-profit"},"references":["IFRS 18 §69"],"exercise":{"prompt":{"fr":"","en":"Operating profit includes the share of the result of equity-accounted joint ventures.","es":""},"explanation":{"fr":"","en":"The statement of profit or loss has two mandatory subtotals: operating profit, the total of the income and expenses of the operating category, and profit before financing and income taxes, which adds the investing category to it (IFRS 18, para. 69). Trap: Including the investing category in operating profit. Rule to remember: Operating profit = the operating category alone (IFRS 18, para. 69).","es":""},"common_error":{"fr":"","en":"Including the investing category, and thus the share of joint ventures, in operating profit.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000024","standard_id":"IFRS18","concept_ids":["IFRS18.SUBTOTALS.OPERATING_PROFIT"],"dimension":"CALCULATION","context":"V1_QST.IFRS18.000024","tested_point":"QST.IFRS18.000024","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000005","section_id":"rule-operating-profit"},"references":["IFRS 18 §69"],"exercise":{"prompt":{"fr":"","en":"Sapin SA classifies the following items for the year in the operating category: sales revenue {revenue}; cost of sales {cost_of_sales}; selling and administrative expenses {selling_and_admin}; research and development {research_and_development}; other operating income {other_operating_income}. It classifies outside that category the interest on a loan, {loan_interest}, in financing, and the share of profit of an associate, {associate_share_of_profit}, in investing (classification provided by the case). Calculate operating profit.","es":""},"explanation":{"fr":"","en":"Method: operating profit is the total of the income and expenses of the operating category: 3,800,000 − 2,150,000 − 780,000 − 310,000 + 45,000 = 605,000. The loan interest (financing) and the share of the associate (investing) do not enter it (IFRS 18, para. 69). Trap: Deducting the interest or adding the associate's share in the calculation of operating profit. Rule to remember: Operating profit = income less expenses of the operating category alone (IFRS 18, para. 69).","es":""},"common_error":{"fr":"","en":"Deducting the loan interest or adding the associate's share in the calculation of operating profit.","es":""},"format":"CALCULATION","placeholders":[{"id":"revenue","value":"3800000","unit":"EUR"},{"id":"cost_of_sales","value":"2150000","unit":"EUR"},{"id":"selling_and_admin","value":"780000","unit":"EUR"},{"id":"research_and_development","value":"310000","unit":"EUR"},{"id":"other_operating_income","value":"45000","unit":"EUR"},{"id":"loan_interest","value":"95000","unit":"EUR"},{"id":"associate_share_of_profit","value":"60000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Sales revenue","es":""},"value":"3800000","unit":"EUR"},{"label":{"fr":"","en":"Cost of sales","es":""},"value":"2150000","unit":"EUR"},{"label":{"fr":"","en":"Selling and administrative expenses","es":""},"value":"780000","unit":"EUR"},{"label":{"fr":"","en":"Research and development","es":""},"value":"310000","unit":"EUR"},{"label":{"fr":"","en":"Other operating income","es":""},"value":"45000","unit":"EUR"},{"label":{"fr":"","en":"Loan interest (financing)","es":""},"value":"95000","unit":"EUR"},{"label":{"fr":"","en":"Share of profit of the associate (investing)","es":""},"value":"60000","unit":"EUR"}],"steps":[{"id":"OPERATING_PROFIT","label":{"fr":"","en":"Operating profit","es":""},"answer":605000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"OPERATING_PROFIT","meaning":{"fr":"","en":"Operating profit","es":""},"expression":"a - b - c - d + e","variables":[{"symbol":"a","meaning":{"fr":"","en":"Sales revenue","es":""},"value":3800000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Cost of sales","es":""},"value":2150000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Selling and administrative expenses","es":""},"value":780000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Research and development","es":""},"value":310000,"unit":"EUR"},{"symbol":"e","meaning":{"fr":"","en":"Other operating income","es":""},"value":45000,"unit":"EUR"}],"result":605000,"unit":"EUR"}],"rationale":{"fr":"","en":"Operating profit = income less expenses of the operating category alone (IFRS 18, para. 69).","es":""},"references":["REF.IFRS18.69"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000025","standard_id":"IFRS18","concept_ids":["IFRS18.SUBTOTALS.OPERATING_PROFIT"],"dimension":"ANALYSIS","context":"V1_QST.IFRS18.000025","tested_point":"QST.IFRS18.000025","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000005","section_id":"rule-operating-profit"},"references":["IFRS 18 §69"],"exercise":{"prompt":{"fr":"","en":"A management controller describes operating profit of Tilleul SA under IFRS 18. Which of the controller's sentences is wrong?","es":""},"explanation":{"fr":"","en":"Operating profit is the total of the income and expenses of the operating category, one of the two mandatory subtotals of the statement of profit or loss (IFRS 18, para. 69). Trap: Mixing into operating profit income from another category. Rule to remember: Operating profit stops at the operating category (IFRS 18, para. 69).","es":""},"common_error":{"fr":"","en":"Mixing into operating profit the interest income on cash, which falls in investing.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Operating profit includes interest income received on cash and cash equivalents.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Operating profit is the total of the income and expenses of the operating category, as it appears in the statement of profit or loss.","es":""},"correct":false,"feedback":{"fr":"","en":"This sentence is correct: operating profit is the total of the income and expenses of the operating category (IFRS 18, para. 69). It is not the wrong sentence; the error adds to the total an income from another category.","es":""}},{"id":"C","text":{"fr":"","en":"Operating profit does not include the expenses of the financing category, which come after profit before financing and income taxes.","es":""},"correct":false,"feedback":{"fr":"","en":"This sentence is correct: financing expenses come after profit before financing and income taxes, outside operating profit (IFRS 18, para. 69). It is not the wrong sentence; the error concerns the cash income.","es":""}},{"id":"D","text":{"fr":"","en":"Operating profit is one of the subtotals that the statement of profit or loss must present.","es":""},"correct":false,"feedback":{"fr":"","en":"This sentence is correct: operating profit is one of the two mandatory subtotals of the statement of profit or loss (IFRS 18, para. 69). It is not the wrong sentence; the error is the one that includes the cash income.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000026","standard_id":"IFRS18","concept_ids":["IFRS18.SUBTOTALS.PROFIT_BEFORE_FINANCING_AND_TAX"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000026","tested_point":"QST.IFRS18.000026","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000005","section_id":"rule-pbfit"},"references":["IFRS 18 §69"],"exercise":{"prompt":{"fr":"","en":"Profit before financing and income taxes equals operating profit less the expenses of the financing category.","es":""},"explanation":{"fr":"","en":"The statement of profit or loss has two mandatory subtotals: operating profit and profit before financing and income taxes, which is operating profit plus the income and expenses of the investing category (IFRS 18, para. 69). The financing category therefore sits below this subtotal, as its very name indicates. Trap: Deducting financing to obtain a \"before financing\" subtotal. Rule to remember: Before financing = operating + investing (IFRS 18, para. 69).","es":""},"common_error":{"fr":"","en":"Deducting the financing expenses to obtain profit before financing and income taxes.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000027","standard_id":"IFRS18","concept_ids":["IFRS18.SUBTOTALS.PROFIT_BEFORE_FINANCING_AND_TAX"],"dimension":"CALCULATION","context":"V1_QST.IFRS18.000027","tested_point":"QST.IFRS18.000027","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000005","section_id":"rule-pbfit"},"references":["IFRS 18 §69"],"exercise":{"prompt":{"fr":"","en":"Sorbier SA has operating profit of {operating_profit}. Its other income and expenses for the year are: share of profit of an equity-accounted joint venture, {jv_share_of_profit}; interest received on cash and cash equivalents, {interest_income_on_cash}; loss on an unconsolidated subsidiary, {unconsolidated_subsidiary_loss}; interest on a bank loan taken out to raise finance, {bank_loan_interest} (entity with no specified main business activity, case convention). Calculate profit before financing and income taxes.","es":""},"explanation":{"fr":"","en":"Method: profit before financing and income taxes is operating profit plus the income and expenses of the investing category (IFRS 18, para. 69). Investing: joint venture (85,000), cash (30,000) and unconsolidated subsidiary (loss of 15,000). Total = 1,120,000 + 85,000 + 30,000 − 15,000 = 1,220,000. Trap: Deducting the loan interest from this subtotal. Rule to remember: Before financing = operating + investing; financing comes after (IFRS 18, para. 69).","es":""},"common_error":{"fr":"","en":"Deducting the loan interest, a financing category item, from profit before financing and income taxes.","es":""},"format":"CALCULATION","placeholders":[{"id":"operating_profit","value":"1120000","unit":"EUR"},{"id":"jv_share_of_profit","value":"85000","unit":"EUR"},{"id":"interest_income_on_cash","value":"30000","unit":"EUR"},{"id":"unconsolidated_subsidiary_loss","value":"15000","unit":"EUR"},{"id":"bank_loan_interest","value":"140000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Operating profit","es":""},"value":"1120000","unit":"EUR"},{"label":{"fr":"","en":"Share of profit of the joint venture","es":""},"value":"85000","unit":"EUR"},{"label":{"fr":"","en":"Interest received on cash and cash equivalents","es":""},"value":"30000","unit":"EUR"},{"label":{"fr":"","en":"Loss on the unconsolidated subsidiary","es":""},"value":"15000","unit":"EUR"},{"label":{"fr":"","en":"Interest on the bank loan raised to obtain finance","es":""},"value":"140000","unit":"EUR"}],"steps":[{"id":"PROFIT_BEFORE_FINANCING_AND_TAX","label":{"fr":"","en":"Profit before financing and income taxes","es":""},"answer":1220000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"PROFIT_BEFORE_FINANCING_AND_TAX","meaning":{"fr":"","en":"Profit before financing and income taxes","es":""},"expression":"a + b + c - d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Operating profit","es":""},"value":1120000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Share of profit of the joint venture","es":""},"value":85000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Interest received on cash and cash equivalents","es":""},"value":30000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Loss on the unconsolidated subsidiary","es":""},"value":15000,"unit":"EUR"}],"result":1220000,"unit":"EUR"}],"rationale":{"fr":"","en":"Before financing = operating + investing; financing comes after (IFRS 18, para. 69).","es":""},"references":["REF.IFRS18.69"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000028","standard_id":"IFRS18","concept_ids":["IFRS18.SUBTOTALS.PROFIT_BEFORE_FINANCING_AND_TAX"],"dimension":"APPLICATION","context":"V1_QST.IFRS18.000028","tested_point":"QST.IFRS18.000028","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000005","section_id":"rule-pbfit"},"references":["IFRS 18 §69"],"exercise":{"prompt":{"fr":"","en":"Genêt SA, with no specified main business activity (case convention), reports: operating profit EUR 640,000; share of profit of an equity-accounted associate EUR 55,000; interest expense on a loan raised to obtain finance EUR 120,000; income tax expense EUR 90,000; profit from a discontinued operation EUR 25,000. What is its profit before financing and income taxes?","es":""},"explanation":{"fr":"","en":"Profit before financing and income taxes is operating profit plus the income and expenses of the investing category (IFRS 18, para. 69). Trap: Mixing financing, tax or discontinued operations into this subtotal. Rule to remember: Profit before financing and income taxes = operating + investing (IFRS 18, para. 69).","es":""},"common_error":{"fr":"","en":"Deducting the interest or the tax, or adding the discontinued operation, to obtain profit before financing and income taxes.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"EUR 695,000.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"EUR 575,000.","es":""},"correct":false,"feedback":{"fr":"","en":"EUR 575,000 deducts the financing interest (640,000 + 55,000 − 120,000); yet financing comes after profit before financing and income taxes (IFRS 18, para. 69). Rule to remember: Financing is below the subtotal, not in it (IFRS 18, para. 69).","es":""}},{"id":"C","text":{"fr":"","en":"EUR 485,000.","es":""},"correct":false,"feedback":{"fr":"","en":"EUR 485,000 deducts both the interest and the tax (640,000 + 55,000 − 120,000 − 90,000); neither is in this subtotal, which precedes financing and taxes (IFRS 18, para. 69). Rule to remember: Neither financing nor tax in this subtotal (IFRS 18, para. 69).","es":""}},{"id":"D","text":{"fr":"","en":"EUR 720,000.","es":""},"correct":false,"feedback":{"fr":"","en":"EUR 720,000 adds the profit of the discontinued operation (640,000 + 55,000 + 25,000); yet that category sits after profit before financing and income taxes (IFRS 18, para. 69). Rule to remember: Discontinued operations come lower in the chain (IFRS 18, para. 69).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000029","standard_id":"IFRS18","concept_ids":["IFRS18.SUBTOTALS.PROFIT_ROLL_DOWN"],"dimension":"CALCULATION","context":"V1_QST.IFRS18.000029","tested_point":"QST.IFRS18.000029","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000005","section_id":"rule-rolldown"},"references":["IFRS 18 §69"],"exercise":{"prompt":{"fr":"","en":"Cèdre SA reports profit before financing and income taxes of {profit_before_financing_and_tax}. The financing category comprises a net expense of {financing_expense}, the income tax expense is {income_tax_expense} and the discontinued operations category shows a profit of {discontinued_result}. Calculate profit before income taxes, then profit for the year.","es":""},"explanation":{"fr":"","en":"Method: profit before income taxes = 1,450,000 − 210,000 = 1,240,000 (financing comes after profit before financing and income taxes). Profit for the year = 1,240,000 − 330,000 + 40,000 = 950,000 (tax deducted, discontinued operations added last). Profit for the year is thus obtained after financing, income taxes and discontinued operations (IFRS 18, para. 69). Trap: Deducting tax before financing, or forgetting the discontinued operations. Rule to remember: Before financing and tax, less financing, less tax, plus discontinued operations (IFRS 18, para. 69).","es":""},"common_error":{"fr":"","en":"Deducting tax before financing or forgetting to add the result of discontinued operations.","es":""},"format":"CALCULATION","placeholders":[{"id":"profit_before_financing_and_tax","value":"1450000","unit":"EUR"},{"id":"financing_expense","value":"210000","unit":"EUR"},{"id":"income_tax_expense","value":"330000","unit":"EUR"},{"id":"discontinued_result","value":"40000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Profit before financing and income taxes","es":""},"value":"1450000","unit":"EUR"},{"label":{"fr":"","en":"Net expense of the financing category","es":""},"value":"210000","unit":"EUR"},{"label":{"fr":"","en":"Income tax expense","es":""},"value":"330000","unit":"EUR"},{"label":{"fr":"","en":"Profit from discontinued operations","es":""},"value":"40000","unit":"EUR"}],"steps":[{"id":"PROFIT_BEFORE_INCOME_TAXES","label":{"fr":"","en":"Profit before income taxes","es":""},"answer":1240000,"tolerance":0,"unit":"EUR"},{"id":"PROFIT_FOR_THE_PERIOD","label":{"fr":"","en":"Profit for the year","es":""},"answer":950000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"PROFIT_BEFORE_INCOME_TAXES","meaning":{"fr":"","en":"Profit before income taxes","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Profit before financing and income taxes","es":""},"value":1450000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Net expense of the financing category","es":""},"value":210000,"unit":"EUR"}],"result":1240000,"unit":"EUR"},{"step":"PROFIT_FOR_THE_PERIOD","meaning":{"fr":"","en":"Profit for the year","es":""},"expression":"a - b + c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Profit before income taxes","es":""},"value":1240000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Income tax expense","es":""},"value":330000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Profit from discontinued operations","es":""},"value":40000,"unit":"EUR"}],"result":950000,"unit":"EUR"}],"rationale":{"fr":"","en":"Before financing and tax, less financing, less tax, plus discontinued operations (IFRS 18, para. 69).","es":""},"references":["REF.IFRS18.69"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000030","standard_id":"IFRS18","concept_ids":["IFRS18.SUBTOTALS.PROFIT_ROLL_DOWN"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000030","tested_point":"QST.IFRS18.000030","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000005","section_id":"rule-rolldown"},"references":["IFRS 18 §69"],"exercise":{"prompt":{"fr":"","en":"In the IFRS 18 statement of profit or loss, profit for the year is obtained after the financing category, income taxes and discontinued operations.","es":""},"explanation":{"fr":"","en":"The statement of profit or loss has two mandatory subtotals, operating profit and profit before financing and income taxes; profit for the year is then obtained after financing, income taxes and discontinued operations (IFRS 18, para. 69). These items therefore play in this order: financing, income taxes, discontinued operations. Trap: Believing that tax or financing sits before profit before financing and income taxes. Rule to remember: After profit before financing and income taxes: financing, income taxes, discontinued operations (IFRS 18, para. 69).","es":""},"common_error":{"fr":"","en":"Believing that tax or financing sits before profit before financing and income taxes.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000031","standard_id":"IFRS18","concept_ids":["IFRS18.SUBTOTALS.PROFIT_ROLL_DOWN"],"dimension":"ANALYSIS","context":"V1_QST.IFRS18.000031","tested_point":"QST.IFRS18.000031","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000005","section_id":"rule-rolldown"},"references":["IFRS 18 §69"],"exercise":{"prompt":{"fr":"","en":"A junior auditor reviews the bridge from profit before financing and income taxes to profit for the year at Aulne SA. Which of the auditor's remarks is wrong?","es":""},"explanation":{"fr":"","en":"Profit for the year is obtained from profit before financing and income taxes, after financing, income taxes and discontinued operations, the latter forming a separate category (IFRS 18, para. 69). The wrong remark melts discontinued operations into operating profit, which would distort that subtotal. Trap: Including discontinued operations in operating. Rule to remember: Discontinued operations are a separate category, after tax (IFRS 18, para. 69).","es":""},"common_error":{"fr":"","en":"Including the result of discontinued operations in operating profit.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Profit before income taxes is obtained by deducting the net financing expense from profit before financing and income taxes.","es":""},"correct":false,"feedback":{"fr":"","en":"This remark is correct: financing is deducted from profit before financing and income taxes to give profit before income taxes (IFRS 18, para. 69). It is not the wrong remark; the error places discontinued operations in operating.","es":""}},{"id":"B","text":{"fr":"","en":"The income tax expense is deducted from profit before income taxes to move towards profit for the year.","es":""},"correct":false,"feedback":{"fr":"","en":"This remark is correct: income tax is deducted after financing in the chain of results (IFRS 18, para. 69). It is not the wrong remark; the error concerns discontinued operations.","es":""}},{"id":"C","text":{"fr":"","en":"The profit from discontinued operations is already included in operating profit and must not be added afterwards.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Profit for the year takes into account the result of discontinued operations, in their own category.","es":""},"correct":false,"feedback":{"fr":"","en":"This remark is correct: the result of discontinued operations, in its own category, enters profit for the year (IFRS 18, para. 69). It is not the wrong remark; the error is the one that says it is included in operating.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000032","standard_id":"IFRS18","concept_ids":["IFRS18.SMBA.CLASSIFICATION_EFFECTS"],"dimension":"APPLICATION","context":"V1_QST.IFRS18.000032","tested_point":"QST.IFRS18.000032","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000006","section_id":"rule-effects"},"references":["IFRS 18 §50"],"exercise":{"prompt":{"fr":"","en":"Crédit du Lac SA has as its main business activity providing financing to customers, which it discloses in its financial statements (case facts: specified main business activity). In which category does it classify the interest received on loans granted to its customers?","es":""},"explanation":{"fr":"","en":"An entity with a main business activity of investing in assets of a particular type or of providing financing to customers classifies in operating profit certain income and expenses that would otherwise be classified in investing or financing, for example a lender for the interest on its loans; the entity discloses whether it has such a main business activity (IFRS 18, para. 50). Trap: Applying to an entity with a specified main business activity the classification of an industrial entity. Rule to remember: Lender: interest on its loans in operating (IFRS 18, para. 50).","es":""},"common_error":{"fr":"","en":"Applying to a lender the classification of an industrial entity's financial income, outside operating profit.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"In the investing category, because loans are assets that generate a return.","es":""},"correct":false,"feedback":{"fr":"","en":"For an entity whose main business activity is financing customers, the interest on its loans falls in the operating category rather than in investing, which would be the classification without that activity (IFRS 18, para. 50). Rule to remember: Main business activity of customer financing: loan interest in operating (IFRS 18, para. 50).","es":""}},{"id":"B","text":{"fr":"","en":"In the operating category, because financing customers is its main business activity.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"In the financing category, because that interest relates to financing transactions.","es":""},"correct":false,"feedback":{"fr":"","en":"The financing category receives the income and expenses of liabilities raising finance; interest received on loans granted to customers is income from assets, classified in operating for this entity (IFRS 18, para. 50). Rule to remember: Loans to customers are not financing liabilities (IFRS 18, para. 50).","es":""}},{"id":"D","text":{"fr":"","en":"In the income taxes category, because it is received from taxable institutions.","es":""},"correct":false,"feedback":{"fr":"","en":"The income taxes category receives only the taxes of IAS 12, not interest received on loans, which falls in operating for this entity (IFRS 18, para. 50). Rule to remember: Loan interest is not a tax (IFRS 18, para. 50).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000034","standard_id":"IFRS18","concept_ids":["IFRS18.AGGREGATION.OTHER_LABEL"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000034","tested_point":"QST.IFRS18.000034","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000007","section_id":"rule-other"},"references":["IFRS 18 §B25"],"exercise":{"prompt":{"fr":"","en":"Under IFRS 18, on what condition is the label \"other\" acceptable in the financial statements?","es":""},"explanation":{"fr":"","en":"The label \"other\" is used only if no more specific or more useful label is available; further information is given if the aggregate is large enough to raise doubts about its content, and immaterial items may be grouped together (IFRS 18, para. B25). Trap: Using \"other\" as an adjustment variable to lighten the statement. Rule to remember: \"Other\" only for lack of a more specific or more useful label (IFRS 18, para. B25).","es":""},"common_error":{"fr":"","en":"Using \"other\" to lighten the statement or hide the nature of items although a more specific label exists.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As soon as the entity wants to reduce the number of lines of its statement of profit or loss.","es":""},"correct":false,"feedback":{"fr":"","en":"Reducing the number of lines is not a criterion: \"other\" presupposes the absence of a more specific or more useful label, and the availability of such a label requires using it (IFRS 18, para. B25). Rule to remember: Specific label first, \"other\" as a last resort (IFRS 18, para. B25).","es":""}},{"id":"B","text":{"fr":"","en":"When management considers the nature of the items grouped on the line to be confidential.","es":""},"correct":false,"feedback":{"fr":"","en":"The confidentiality of the nature of the items is not a ground: \"other\" is used only for lack of a more specific or more useful label, and further information is given if the aggregate is large enough to raise doubts about its content (IFRS 18, para. B25). Rule to remember: No \"other\" label to hide the nature (IFRS 18, para. B25).","es":""}},{"id":"C","text":{"fr":"","en":"For any item whose amount is lower than that of the largest line of the statement.","es":""},"correct":false,"feedback":{"fr":"","en":"No threshold relative to the largest line governs the label \"other\": it is the absence of a more specific or more useful label that justifies it (IFRS 18, para. B25). Rule to remember: The criterion is the label available, not an amount threshold (IFRS 18, para. B25).","es":""}},{"id":"D","text":{"fr":"","en":"When no more specific or more useful label is available for the items concerned.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000035","standard_id":"IFRS18","concept_ids":["IFRS18.AGGREGATION.OTHER_LABEL"],"dimension":"APPLICATION","context":"V1_QST.IFRS18.000035","tested_point":"QST.IFRS18.000035","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000007","section_id":"rule-other"},"references":["IFRS 18 §B25"],"exercise":{"prompt":{"fr":"","en":"Fjord SA presents its operating expenses by function and a line \"Other expenses\" of EUR 410,000. It is made up of losses on trade receivables of EUR 250,000, identified and followed by users, and various small amounts of EUR 160,000, which are immaterial (case facts). How must Fjord treat this line?","es":""},"explanation":{"fr":"","en":"The label \"other\" is used only if no more specific or more useful label is available; further information is given if the aggregate is large enough to raise doubts about its content; immaterial items may be grouped together (IFRS 18, para. B25). Case facts: the losses on receivables, EUR 250,000 and followed by users, call for a label of their own; the immaterial EUR 160,000 may stay under \"other\". Trap: Keeping a single \"other\" line for identifiable items. Rule to remember: Specific label for the useful item, \"other\" for the immaterial rest (IFRS 18, para. B25).","es":""},"common_error":{"fr":"","en":"Keeping a single \"other\" line although part of the items has a specific label followed by users.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Keep the \"Other expenses\" line for the EUR 410,000, with no further detail, since grouping avoids multiplying lines and presentation by function does not require it.","es":""},"correct":false,"feedback":{"fr":"","en":"Keeping a single \"other\" line when a more specific and more useful label exists for the EUR 250,000 of losses on receivables sets aside the criterion for the label \"other\", reserved for the absence of a more specific label (IFRS 18, para. B25). Rule to remember: The specific label takes precedence over \"other\" (IFRS 18, para. B25).","es":""}},{"id":"B","text":{"fr":"","en":"Give a more specific label to the losses on receivables, and keep \"other\" for the small amounts, providing the information on items so labelled.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Remove the line from the statement of profit or loss and carry the EUR 410,000 in the notes, outside the totals.","es":""},"correct":false,"feedback":{"fr":"","en":"An expense does not leave the totals to be carried in a note: immaterial amounts may be grouped together, not removed from the statement (IFRS 18, para. B25). Rule to remember: Grouping is not removing (IFRS 18, para. B25).","es":""}},{"id":"D","text":{"fr":"","en":"Rename the line \"Sundry\" with no other change, the label \"other\" being prohibited for expenses.","es":""},"correct":false,"feedback":{"fr":"","en":"The label \"other\" is not prohibited for expenses: it is allowed for lack of a more specific or more useful label, and \"sundry\" changes nothing to the requirement of a specific label for the losses on receivables (IFRS 18, para. B25). Rule to remember: Changing the word does not correct the grouping (IFRS 18, para. B25).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000036","standard_id":"IFRS18","concept_ids":["IFRS18.AGGREGATION.OPEX_PRESENTATION","IFRS18.AGGREGATION.EXPENSES_BY_NATURE_NOTE"],"dimension":"APPLICATION","context":"V1_QST.IFRS18.000036","tested_point":"QST.IFRS18.000036","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000008","section_id":"rule-presentation"},"references":["IFRS 18","IFRS 18 §83"],"exercise":{"prompt":{"fr":"","en":"Brio SA presents its operating expenses in a mix: the lines \"Cost of sales\" and \"Distribution costs\" are classified by function, while the line \"Depreciation and amortisation\" is classified by nature (case facts). What additional information must Brio provide?","es":""},"explanation":{"fr":"","en":"Operating expenses may be presented by nature, by function or in a mix of the two; presentation by function brings additional information by nature (IFRS 18). When the entity presents in the operating category one or more lines of expenses classified by function, it discloses in a single note the total of depreciation of property, plant and equipment, amortisation of intangible assets, employee benefits, impairment of non-financial assets and inventory write-downs (IFRS 18, para. 83). Trap: Believing that a mix with lines by nature exempts from the note. Rule to remember: At least one line by function: a single note by nature (IFRS 18, para. 83).","es":""},"common_error":{"fr":"","en":"Believing that a mix with lines by nature exempts from the note on expenses by nature.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No further information, since the presence of one line by nature is enough to exempt the entity from any note by nature.","es":""},"correct":false,"feedback":{"fr":"","en":"The mix does not exempt from the information: as soon as a line of operating expenses is presented by function, a single note gives the expenses by nature, whatever the other lines (IFRS 18). Rule to remember: One line by function is enough to trigger the note by nature (IFRS 18).","es":""}},{"id":"B","text":{"fr":"","en":"A note by function for the line presented by nature, so as to complete the mix with a symmetrical breakdown of the depreciation charge.","es":""},"correct":false,"feedback":{"fr":"","en":"It is presentation by function that calls for information by nature, not the reverse: a line presented by nature does not call for a note by function (IFRS 18). Rule to remember: Function → note by nature, not nature → note by function (IFRS 18).","es":""}},{"id":"C","text":{"fr":"","en":"A breakdown by nature limited to employee costs, the other natures of expense being exempt in a mix.","es":""},"correct":false,"feedback":{"fr":"","en":"The information concerned is not limited to employee costs: it also covers depreciation and amortisation, impairment of non-financial assets and inventory write-downs (IFRS 18). Rule to remember: The note by nature covers several natures of expense (IFRS 18).","es":""}},{"id":"D","text":{"fr":"","en":"A single note giving total depreciation and amortisation, employee benefits, impairment of non-financial assets and inventory write-downs.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000037","standard_id":"IFRS18","concept_ids":["IFRS18.AGGREGATION.OPEX_PRESENTATION","IFRS18.AGGREGATION.EXPENSES_BY_NATURE_NOTE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000037","tested_point":"QST.IFRS18.000037","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000008","section_id":"rule-presentation"},"references":["IFRS 18","IFRS 18 §83"],"exercise":{"prompt":{"fr":"","en":"Which statements about the presentation of operating expenses under IFRS 18 are correct? More than one answer is possible.","es":""},"explanation":{"fr":"","en":"Operating expenses may be presented by nature, by function or in a mix of the two; presentation by function brings the additional information by nature (IFRS 18), given in a single note that totals depreciation and amortisation, employee benefits and impairments (IFRS 18, para. 83). Trap: Reversing the direction of the requirement or imposing function on certain entities. Rule to remember: Nature, function or a mix; function calls for the note by nature (IFRS 18, para. 83).","es":""},"common_error":{"fr":"","en":"Reversing the direction of the disclosure requirement, or imposing presentation by function on a category of entities.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Operating expenses may be presented by nature, by function or in a mix of the two.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Presentation by function brings additional information by nature.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"An entity that presents its expenses by nature provides in the notes an equivalent analysis by function.","es":""},"correct":false,"feedback":{"fr":"","en":"It is presentation by function that brings the information by nature, not the reverse: a presentation by nature does not call for an analysis by function (IFRS 18). Rule to remember: Function → information by nature (IFRS 18).","es":""}},{"id":"D","text":{"fr":"","en":"That additional information is given in a single note.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Presentation by function is required of any industrial entity.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard leaves the choice between nature, function or a mix: no presentation is required of a particular category of entities (IFRS 18). Rule to remember: Three modes of presentation are open (IFRS 18).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000038","standard_id":"IFRS18","concept_ids":["IFRS18.AGGREGATION.EXPENSES_BY_NATURE_NOTE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000038","tested_point":"QST.IFRS18.000038","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000008","section_id":"rule-note"},"references":["IFRS 18 §83"],"exercise":{"prompt":{"fr":"","en":"Fjord SA presents a line of operating expenses by function. Which of the following items enter the single note of information by nature that the standard requires? More than one answer is possible.","es":""},"explanation":{"fr":"","en":"When the entity presents in the operating category one or more lines of expenses classified by function, it discloses in a single note the total of depreciation of property, plant and equipment, amortisation of intangible assets, employee benefits, impairment of non-financial assets (and reversals) and inventory write-downs (and reversals) (IFRS 18, para. 83). Advertising expenses and tax are not in that list. Trap: Extending the note to any nature of expense. Rule to remember: Note by nature: depreciation and amortisation, employee benefits, impairments (IFRS 18, para. 83).","es":""},"common_error":{"fr":"","en":"Extending the note by nature to any nature of expense, including advertising or tax.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The total of employee benefits.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The total of advertising expenses for the year.","es":""},"correct":false,"feedback":{"fr":"","en":"Advertising expenses are not in the list of natures of expense of the note: depreciation and amortisation, employee benefits, impairment of non-financial assets and inventory write-downs (IFRS 18, para. 83). Rule to remember: The note covers a specific list of natures of expense (IFRS 18, para. 83).","es":""}},{"id":"C","text":{"fr":"","en":"The total of inventory write-downs, with reversals.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The income tax expense for the year.","es":""},"correct":false,"feedback":{"fr":"","en":"Income tax expense belongs to its own category and is not among the natures of operating expense of the note (IFRS 18, para. 83). Rule to remember: The note concerns operating expenses, not tax (IFRS 18, para. 83).","es":""}},{"id":"E","text":{"fr":"","en":"The total of depreciation of property, plant and equipment.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000039","standard_id":"IFRS18","concept_ids":["IFRS18.AGGREGATION.EXPENSES_BY_NATURE_NOTE"],"dimension":"CALCULATION","context":"V1_QST.IFRS18.000039","tested_point":"QST.IFRS18.000039","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000008","section_id":"rule-note"},"references":["IFRS 18 §83"],"exercise":{"prompt":{"fr":"","en":"Algue SA presents its operating expenses by function and provides the note by nature. For the year, employee benefits recognised in operating expenses are {employee_benefits_expensed} and those included in the cost of a self-constructed asset {employee_benefits_capitalised}; depreciation of property, plant and equipment recognised in expenses is {depreciation_expensed} and that included in the cost of assets {depreciation_capitalised}. Case convention: Algue includes in the note the amounts included in the cost of assets, which the standard permits. Calculate the employee benefits and depreciation amounts disclosed in the note.","es":""},"explanation":{"fr":"","en":"Method: employee benefits disclosed = 4,200,000 + 350,000 = 4,550,000; depreciation disclosed = 1,150,000 + 60,000 = 1,210,000. The single note covers the total of depreciation of property, plant and equipment, employee benefits and other natures, and its amounts may include those included in the cost of an asset (IFRS 18, para. 83). The inclusion applied here is the case convention. Trap: Retaining only the part recognised in expenses. Rule to remember: Note by nature = amount in expenses + amount included in the cost of assets, if the case convention includes it (IFRS 18, para. 83).","es":""},"common_error":{"fr":"","en":"Retaining in the note only the amount recognised in expenses, omitting the amount included in the cost of assets.","es":""},"format":"CALCULATION","placeholders":[{"id":"employee_benefits_expensed","value":"4200000","unit":"EUR"},{"id":"employee_benefits_capitalised","value":"350000","unit":"EUR"},{"id":"depreciation_expensed","value":"1150000","unit":"EUR"},{"id":"depreciation_capitalised","value":"60000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Employee benefits recognised in expenses","es":""},"value":"4200000","unit":"EUR"},{"label":{"fr":"","en":"Employee benefits included in the cost of an asset","es":""},"value":"350000","unit":"EUR"},{"label":{"fr":"","en":"Depreciation of property, plant and equipment recognised in expenses","es":""},"value":"1150000","unit":"EUR"},{"label":{"fr":"","en":"Depreciation included in the cost of assets","es":""},"value":"60000","unit":"EUR"}],"steps":[{"id":"EMPLOYEE_BENEFITS_DISCLOSED","label":{"fr":"","en":"Employee benefits disclosed in the note","es":""},"answer":4550000,"tolerance":0,"unit":"EUR"},{"id":"DEPRECIATION_DISCLOSED","label":{"fr":"","en":"Depreciation disclosed in the note","es":""},"answer":1210000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"EMPLOYEE_BENEFITS_DISCLOSED","meaning":{"fr":"","en":"Employee benefits disclosed in the note","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Employee benefits recognised in expenses","es":""},"value":4200000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Employee benefits included in the cost of an asset","es":""},"value":350000,"unit":"EUR"}],"result":4550000,"unit":"EUR"},{"step":"DEPRECIATION_DISCLOSED","meaning":{"fr":"","en":"Depreciation disclosed in the note","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Depreciation of property, plant and equipment recognised in expenses","es":""},"value":1150000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Depreciation included in the cost of assets","es":""},"value":60000,"unit":"EUR"}],"result":1210000,"unit":"EUR"}],"rationale":{"fr":"","en":"Note by nature = amount in expenses + amount included in the cost of assets, if the case convention includes it (IFRS 18, para. 83).","es":""},"references":["REF.IFRS18.83"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000040","standard_id":"IFRS18","concept_ids":["IFRS18.MPM.EXCLUDED_SUBTOTALS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000040","tested_point":"QST.IFRS18.000040","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000009","section_id":"rule-excluded"},"references":["IFRS 18 §118"],"exercise":{"prompt":{"fr":"","en":"Operating profit, a subtotal specified by IFRS 18, is not a management-defined performance measure.","es":""},"explanation":{"fr":"","en":"The totals and subtotals required by IFRS 18 or by other standards are excluded from the definition, and paragraph 118 excludes others, such as gross profit (IFRS 18, paras. 117 and 118). Operating profit being required by IFRS 18, it is not a management measure. Trap: Calling a management measure a subtotal that the standard requires. Rule to remember: A subtotal required by the standard is not a management-defined performance measure (IFRS 18, paras. 117 and 118).","es":""},"common_error":{"fr":"","en":"Calling a management-defined measure a subtotal that the standard itself requires.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000041","standard_id":"IFRS18","concept_ids":["IFRS18.MPM.EXCLUDED_SUBTOTALS"],"dimension":"APPLICATION","context":"V1_QST.IFRS18.000041","tested_point":"QST.IFRS18.000041","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000009","section_id":"rule-excluded"},"references":["IFRS 18 §118"],"exercise":{"prompt":{"fr":"","en":"Vigne SA reports several subtotals outside its financial statements. Which one is a subtotal required by IFRS 18, which the standard distinguishes from management-defined performance measures?","es":""},"explanation":{"fr":"","en":"The totals and subtotals required by IFRS 18 or by other standards are excluded from the definition, and paragraph 118 excludes others, such as gross profit (IFRS 18, paras. 117 and 118). Of the proposed list, only operating profit is required by the standard; the other three are subtotals that management defines or calculates in its own way. Trap: Confusing a required subtotal with a management-defined subtotal under a similar name. Rule to remember: Required by the standard: distinguished from management measures; defined by management: management measure (IFRS 18, paras. 117 and 118).","es":""},"common_error":{"fr":"","en":"Confusing the operating profit required by the standard with an adjusted operating profit defined by management under a similar name.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Operating profit, which the statement of profit or loss must present.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"A \"current operating profit\" that management calculates by excluding restructuring costs.","es":""},"correct":false,"feedback":{"fr":"","en":"\"Current operating profit\" is a subtotal that management calculates in its own way: it is not required by IFRS 18 (IFRS 18, paras. 117 and 118). Rule to remember: A subtotal chosen by management is not a required subtotal (IFRS 18, paras. 117 and 118).","es":""}},{"id":"C","text":{"fr":"","en":"An \"operating profit before brand impairment\" that management defines and publishes in its press release.","es":""},"correct":false,"feedback":{"fr":"","en":"The \"operating profit before brand impairment\" is defined by management: no requirement of IFRS 18 provides for it (IFRS 18, paras. 117 and 118). Rule to remember: Defined by management: subtotal not required (IFRS 18, paras. 117 and 118).","es":""}},{"id":"D","text":{"fr":"","en":"A \"recurring result\" that management calculates without the items it considers unrepresentative.","es":""},"correct":false,"feedback":{"fr":"","en":"The \"recurring result\" rests on management's judgement of what is representative; it is not required by IFRS 18 (IFRS 18, paras. 117 and 118). Rule to remember: A subtotal that is not required is a management matter (IFRS 18, paras. 117 and 118).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000042","standard_id":"IFRS18","concept_ids":["IFRS18.MPM.DISCLOSURES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000042","tested_point":"QST.IFRS18.000042","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000010","section_id":"rule-disclosures"},"references":["IFRS 18 §122","IFRS 18 §123"],"exercise":{"prompt":{"fr":"","en":"The information about management-defined performance measures is given in the notes and includes a reconciliation to the most directly comparable specified subtotal or total.","es":""},"explanation":{"fr":"","en":"The information about management-defined performance measures is given in the notes and includes a reconciliation between each measure and the most directly comparable specified subtotal or total, with the income tax effect and the effect on non-controlling interests of each reconciling item (IFRS 18, paras. 122 and 123). Trap: Believing that the measure is presented without reconciliation or in the statement of profit or loss. Rule to remember: Management measure: notes, with reconciliation to the comparable specified subtotal (IFRS 18, paras. 122 and 123).","es":""},"common_error":{"fr":"","en":"Believing that the management measure is presented without reconciliation, or directly in the statement of profit or loss.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000043","standard_id":"IFRS18","concept_ids":["IFRS18.MPM.DISCLOSURES"],"dimension":"CALCULATION","context":"V1_QST.IFRS18.000043","tested_point":"QST.IFRS18.000043","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000010","section_id":"rule-disclosures"},"references":["IFRS 18 §122","IFRS 18 §123"],"exercise":{"prompt":{"fr":"","en":"Lisière SA publishes outside its financial statements an \"operating profit before restructuring and brand impairment\", which it regards as a management-defined performance measure (management's choice, case data). Its operating profit, the most directly comparable specified subtotal, is {operating_profit}. The reconciling items are restructuring costs of {restructuring_costs} and a brand impairment of {brand_impairment}, both included in operating profit. Calculate the measure.","es":""},"explanation":{"fr":"","en":"Method: measure = most directly comparable specified subtotal + reconciling items = 780,000 + 120,000 + 45,000 = 945,000. The measure and its items are management's choices (case data), not requirements of the standard. Trap: Deducting the items instead of adding them back. Rule to remember: Measure = specified subtotal + reconciling items chosen by management (IFRS 18, paras. 122 and 123).","es":""},"common_error":{"fr":"","en":"Deducting the restructuring costs and impairment from operating profit instead of adding them back.","es":""},"format":"CALCULATION","placeholders":[{"id":"operating_profit","value":"780000","unit":"EUR"},{"id":"restructuring_costs","value":"120000","unit":"EUR"},{"id":"brand_impairment","value":"45000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Operating profit (comparable specified subtotal)","es":""},"value":"780000","unit":"EUR"},{"label":{"fr":"","en":"Restructuring costs (reconciling item)","es":""},"value":"120000","unit":"EUR"},{"label":{"fr":"","en":"Brand impairment (reconciling item)","es":""},"value":"45000","unit":"EUR"}],"steps":[{"id":"MPM_AMOUNT","label":{"fr":"","en":"Management-defined performance measure","es":""},"answer":945000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"MPM_AMOUNT","meaning":{"fr":"","en":"Management-defined performance measure","es":""},"expression":"a + b + c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Operating profit (comparable specified subtotal)","es":""},"value":780000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Restructuring costs (reconciling item)","es":""},"value":120000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Brand impairment (reconciling item)","es":""},"value":45000,"unit":"EUR"}],"result":945000,"unit":"EUR"}],"rationale":{"fr":"","en":"Measure = specified subtotal + reconciling items chosen by management (IFRS 18, paras. 122 and 123).","es":""},"references":["REF.IFRS18.122","REF.IFRS18.123"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000044","standard_id":"IFRS18","concept_ids":["IFRS18.MPM.DISCLOSURES"],"dimension":"APPLICATION","context":"V1_QST.IFRS18.000044","tested_point":"QST.IFRS18.000044","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000010","section_id":"rule-disclosures"},"references":["IFRS 18 §122","IFRS 18 §123"],"exercise":{"prompt":{"fr":"","en":"Ormeau SA publishes in its financial report an \"operating profit before restructuring costs\", which it regards as a management-defined performance measure (case data). What information must appear in the notes for this measure?","es":""},"explanation":{"fr":"","en":"The information about management-defined performance measures is given in the notes and includes a reconciliation between each measure and the most directly comparable specified subtotal or total, with the income tax effect and the effect on non-controlling interests of each reconciling item (IFRS 18, paras. 122 and 123). As the measure adjusts operating profit, the most directly comparable required subtotal, the reconciliation is to that subtotal. Trap: Reconciling the measure to a barely comparable aggregate or omitting the reconciliation. Rule to remember: Reconcile each measure to the comparable specified subtotal, with tax and non-controlling interest effects (IFRS 18, paras. 122 and 123).","es":""},"common_error":{"fr":"","en":"Reconciling the measure to a barely comparable aggregate, or omitting the reconciliation because the measure is already in the notes.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A reconciliation to profit for the year, with no indication of the tax effect since tax is already included in that profit, nor of the effect on non-controlling interests.","es":""},"correct":false,"feedback":{"fr":"","en":"The reconciliation is to the most directly comparable specified subtotal or total, here operating profit, and not to profit for the year; the tax effect of each reconciling item is still given (IFRS 18, paras. 122 and 123). Rule to remember: Reconciliation to the most comparable subtotal, tax effect per item (IFRS 18, paras. 122 and 123).","es":""}},{"id":"B","text":{"fr":"","en":"A reconciliation to revenue, the measure being an activity indicator more than a profit indicator.","es":""},"correct":false,"feedback":{"fr":"","en":"Revenue is not the most directly comparable subtotal for a measure of operating profit: the reconciliation is to operating profit (IFRS 18, paras. 122 and 123). Rule to remember: Profit measure: reconciliation to a profit subtotal (IFRS 18, paras. 122 and 123).","es":""}},{"id":"C","text":{"fr":"","en":"A reconciliation to operating profit, with the tax effect and the effect on non-controlling interests of each item.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"No reconciliation, the measure appearing in the notes and not in the statement of profit or loss.","es":""},"correct":false,"feedback":{"fr":"","en":"The measure must be reconciled to the comparable specified subtotal in the notes: appearing in the notes does not exempt from it, since the notes contain precisely that reconciliation (IFRS 18, paras. 122 and 123). Rule to remember: The notes contain the reconciliation (IFRS 18, paras. 122 and 123).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000045","standard_id":"IFRS18","concept_ids":["IFRS18.TRANSITION.EFFECTIVE_DATE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000045","tested_point":"QST.IFRS18.000045","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000011","section_id":"rule-effective"},"references":["IFRS 18 §C1"],"exercise":{"prompt":{"fr":"","en":"IFRS 18 applies to annual periods beginning on or after 1 January 2026.","es":""},"explanation":{"fr":"","en":"IFRS 18 applies to annual periods beginning on or after 1 January 2027; early application is permitted and must be disclosed in the notes (IFRS 18, para. C1). Trap: Shifting the effective date by one year. Rule to remember: Annual periods beginning on or after 1 January 2027; early application permitted (IFRS 18, para. C1).","es":""},"common_error":{"fr":"","en":"Retaining 2026 or a year other than 2027 as the effective date of IFRS 18.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000046","standard_id":"IFRS18","concept_ids":["IFRS18.TRANSITION.EFFECTIVE_DATE"],"dimension":"APPLICATION","context":"V1_QST.IFRS18.000046","tested_point":"QST.IFRS18.000046","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000011","section_id":"rule-effective"},"references":["IFRS 18 §C1"],"exercise":{"prompt":{"fr":"","en":"Zénith SA closes its books on 30 June and does not early adopt IFRS 18. What is the first period for which it must apply IFRS 18?","es":""},"explanation":{"fr":"","en":"IFRS 18 applies to annual periods beginning on or after 1 January 2027; early application is permitted and must be disclosed in the notes (IFRS 18, para. C1). Trap: Reasoning on the closing date rather than the start date. Rule to remember: First period beginning on or after 1 January 2027 (IFRS 18, para. C1).","es":""},"common_error":{"fr":"","en":"Reasoning on the closing date of the period rather than on its start date.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The period ending on 30 June 2027, which ends after 1 January 2027.","es":""},"correct":false,"feedback":{"fr":"","en":"The criterion concerns the start of the period, not its end: the period ending on 30 June 2027 began on 1 July 2026, before 1 January 2027 (IFRS 18, para. C1). Rule to remember: The start date of the period decides (IFRS 18, para. C1).","es":""}},{"id":"B","text":{"fr":"","en":"The period beginning on 1 July 2026 and ending on 30 June 2027.","es":""},"correct":false,"feedback":{"fr":"","en":"The period beginning on 1 July 2026 started before 1 January 2027: it is not among the periods beginning on or after that date (IFRS 18, para. C1). Rule to remember: The first period beginning on or after 1 January 2027 is the first concerned (IFRS 18, para. C1).","es":""}},{"id":"C","text":{"fr":"","en":"The period beginning on 1 July 2027 and ending on 30 June 2028.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The period ending on 31 December 2027, the first closed after the effective date.","es":""},"correct":false,"feedback":{"fr":"","en":"Zénith has no period ending on 31 December; its first period beginning on or after 1 January 2027 starts on 1 July 2027, not at the calendar year end (IFRS 18, para. C1). Rule to remember: Reason on the start of the entity's own period (IFRS 18, para. C1).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000047","standard_id":"IFRS18","concept_ids":["IFRS18.TRANSITION.EFFECTIVE_DATE"],"dimension":"ANALYSIS","context":"V1_QST.IFRS18.000047","tested_point":"QST.IFRS18.000047","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000011","section_id":"rule-effective"},"references":["IFRS 18 §C1"],"exercise":{"prompt":{"fr":"","en":"A trainee summarises the effective date of IFRS 18 for the audit committee of Onyx SA. Which of the trainee's sentences is wrong?","es":""},"explanation":{"fr":"","en":"IFRS 18 applies to annual periods beginning on or after 1 January 2027; early application is permitted and must be disclosed in the notes (IFRS 18, para. C1). The wrong sentence forbids any application before the effective date. Trap: Taking the effective date as the only possible date of application. Rule to remember: Mandatory from 1 January 2027, early application permitted with disclosure (IFRS 18, para. C1).","es":""},"common_error":{"fr":"","en":"Taking 1 January 2027 as the only possible date of application, with no early application.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"IFRS 18 cannot be applied before 1 January 2027 under any circumstances.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"IFRS 18 applies to annual periods beginning on or after 1 January 2027.","es":""},"correct":false,"feedback":{"fr":"","en":"This sentence is correct: IFRS 18 applies to annual periods beginning on or after 1 January 2027 (IFRS 18, para. C1). It is not the wrong sentence; the error forbids any application before that date, which the standard does not do.","es":""}},{"id":"C","text":{"fr":"","en":"An entity that applies IFRS 18 early discloses that fact in its notes.","es":""},"correct":false,"feedback":{"fr":"","en":"This sentence is correct: early application, which is permitted, is disclosed in the notes (IFRS 18, para. C1). It is not the wrong sentence; the error is the one that forbids any early application.","es":""}},{"id":"D","text":{"fr":"","en":"Until IFRS 18 applies, IAS 1 remains applicable.","es":""},"correct":false,"feedback":{"fr":"","en":"This sentence is correct: IFRS 18 replaces IAS 1 from its effective date or early application, and IAS 1 remains applicable before (IFRS 18, para. C1). It is not the wrong sentence; the error is the one that forbids early application.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000048","standard_id":"IFRS18","concept_ids":["IFRS18.TRANSITION.EU_ENDORSEMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000048","tested_point":"QST.IFRS18.000048","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000011","section_id":"rule-eu"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Commission Regulation (EU) 2026/338 came into force on the very day of its publication in the Official Journal.","es":""},"explanation":{"fr":"","en":"Commission Regulation (EU) 2026/338, adopted on 13 February 2026 and published in the Official Journal on 16 February 2026, adopts IFRS 18 and its consequential amendments; it enters into force on the twentieth day following publication, and IFRS 18 applies in the Union to annual periods beginning on or after 1 January 2027 (IFRS 18). Trap: Confusing the date on which the regulation enters into force with the application date of the standard. Rule to remember: Regulation in force on the twentieth day after publication; standard applied from 1 January 2027 (IFRS 18).","es":""},"common_error":{"fr":"","en":"Confusing the date on which the EU regulation enters into force with the application date of IFRS 18.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000049","standard_id":"IFRS18","concept_ids":["IFRS18.TRANSITION.EU_ENDORSEMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000049","tested_point":"QST.IFRS18.000049","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000011","section_id":"rule-eu"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"In the European Union, from when does IFRS 18 apply to the periods of the entities concerned?","es":""},"explanation":{"fr":"","en":"Commission Regulation (EU) 2026/338, adopted on 13 February 2026 and published in the Official Journal on 16 February 2026, adopts IFRS 18 and its consequential amendments; it enters into force on the twentieth day following publication and IFRS 18 applies in the Union to annual periods beginning on or after 1 January 2027, early application permitted (IFRS 18). Trap: Retaining a date of the regulation as the application date of the standard. Rule to remember: In the Union as elsewhere: annual periods beginning on or after 1 January 2027 (IFRS 18).","es":""},"common_error":{"fr":"","en":"Retaining the adoption, publication or entry-into-force date of the regulation as the application date of IFRS 18.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"From 16 February 2026, the date on which the regulation was published in the Official Journal.","es":""},"correct":false,"feedback":{"fr":"","en":"16 February 2026 is the publication date of the regulation, not the application date of the standard: IFRS 18 applies to annual periods beginning on or after 1 January 2027 (IFRS 18). Rule to remember: Publication of the regulation and application of the standard are two separate dates (IFRS 18).","es":""}},{"id":"B","text":{"fr":"","en":"From 13 February 2026, the date on which the regulation was adopted by the Commission.","es":""},"correct":false,"feedback":{"fr":"","en":"13 February 2026 is the date on which the Commission adopted the regulation, not the date of application of the standard to periods, set at 1 January 2027 (IFRS 18). Rule to remember: Adoption and application are two separate dates (IFRS 18).","es":""}},{"id":"C","text":{"fr":"","en":"From the twentieth day following publication, for all periods then in progress.","es":""},"correct":false,"feedback":{"fr":"","en":"The twentieth day following publication is the date on which the regulation enters into force, not the application date of IFRS 18, which targets periods beginning on or after 1 January 2027 (IFRS 18). Rule to remember: Entry into force of the regulation and application of the standard are separate (IFRS 18).","es":""}},{"id":"D","text":{"fr":"","en":"To annual periods beginning on or after 1 January 2027, early application being permitted.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000050","standard_id":"IFRS18","concept_ids":["IFRS18.TRANSITION.RETROSPECTIVE"],"dimension":"APPLICATION","context":"V1_QST.IFRS18.000050","tested_point":"QST.IFRS18.000050","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000012","section_id":"rule-retro"},"references":["IFRS 18 §C2"],"exercise":{"prompt":{"fr":"","en":"Hydra SA, which closes on 31 December, applies IFRS 18 for 2027 and restates its 2026 comparative. In that comparative, it reclassifies EUR 120,000 of interest income on cash from the operating category to the investing category (case facts). What follows for the 2026 comparative?","es":""},"explanation":{"fr":"","en":"IFRS 18 is applied retrospectively: comparative information is restated under IFRS 18, so that for a year beginning on 1 January 2027 the 2026 comparative period is presented under IFRS 18 (IFRS 18, para. C2). The reclassification reduces operating profit by EUR 120,000; profit before financing and income taxes, which includes investing, and profit for the year are unchanged. Trap: Believing that a reclassification between categories changes profit for the year. Rule to remember: Retrospective restatement: the subtotals move, profit for the year does not (IFRS 18, para. C2).","es":""},"common_error":{"fr":"","en":"Believing that a reclassification between categories changes profit for the year or all the subtotals.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Profit for 2026 falls by EUR 120,000, the income leaving operating profit no longer appearing in the statement.","es":""},"correct":false,"feedback":{"fr":"","en":"The income stays in the statement of profit or loss, in another category: reclassification between categories does not reduce profit for the year (IFRS 18, para. C2). Rule to remember: Reclassifying between categories does not change profit for the year (IFRS 18, para. C2).","es":""}},{"id":"B","text":{"fr":"","en":"Profit for 2026 is unchanged; operating profit falls by EUR 120,000 and profit before financing and income taxes is unchanged.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Profit for 2026 is unchanged, but all the subtotals of the statement of profit or loss remain identical to those under IAS 1.","es":""},"correct":false,"feedback":{"fr":"","en":"Since the restatement moved EUR 120,000 out of operating, the comparative operating profit cannot stay identical: it falls by the amount moved (IFRS 18, para. C2). Rule to remember: The originating subtotal varies by the amount moved (IFRS 18, para. C2).","es":""}},{"id":"D","text":{"fr":"","en":"Operating profit and profit before financing and income taxes each fall by EUR 120,000, and so does profit for the year, since the income leaves all three aggregates.","es":""},"correct":false,"feedback":{"fr":"","en":"Profit before financing and income taxes adds operating and investing: the amount leaving one enters the other, so this subtotal does not fall, nor does profit for the year (IFRS 18, para. C2). Rule to remember: A transfer between two categories of the same subtotal leaves it unchanged (IFRS 18, para. C2).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000051","standard_id":"IFRS18","concept_ids":["IFRS18.TRANSITION.RETROSPECTIVE"],"dimension":"CALCULATION","context":"V1_QST.IFRS18.000051","tested_point":"QST.IFRS18.000051","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000012","section_id":"rule-retro"},"references":["IFRS 18 §C2"],"exercise":{"prompt":{"fr":"","en":"In its 2026 comparative presented under IAS 1, Delta SA showed an \"operating result\" of {previous_result}, which included interest received on cash of {interest_income_moved} and the share of profit of a joint venture of {jv_share_moved}. When IFRS 18 is applied retrospectively, those two items fall in the investing category (entity with no specified main business activity). Calculate the restated operating profit of the comparative, then the difference from the subtotal presented under IAS 1.","es":""},"explanation":{"fr":"","en":"Method: restated operating profit = 860,000 − 120,000 − 60,000 = 680,000, the interest on cash and the share of the joint venture leaving the operating category for investing. Difference = 680,000 − 860,000 = −180,000. Profit for the year is not changed by this reclassification alone. Trap: Flipping the sign of the difference or attributing it to profit for the year. Rule to remember: Restated less presented: a reclassification out of operating gives a negative difference (IFRS 18, para. C2).","es":""},"common_error":{"fr":"","en":"Attributing the subtotal difference to profit for the year or reversing its sign.","es":""},"format":"CALCULATION","placeholders":[{"id":"previous_result","value":"860000","unit":"EUR"},{"id":"interest_income_moved","value":"120000","unit":"EUR"},{"id":"jv_share_moved","value":"60000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Operating result presented under IAS 1","es":""},"value":"860000","unit":"EUR"},{"label":{"fr":"","en":"Interest on cash reclassified to investing","es":""},"value":"120000","unit":"EUR"},{"label":{"fr":"","en":"Share of the joint venture reclassified to investing","es":""},"value":"60000","unit":"EUR"}],"steps":[{"id":"RESTATED_OPERATING_PROFIT","label":{"fr":"","en":"Operating profit restated under IFRS 18","es":""},"answer":680000,"tolerance":0,"unit":"EUR"},{"id":"DIFFERENCE","label":{"fr":"","en":"Difference (restated less presented under IAS 1)","es":""},"answer":-180000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"RESTATED_OPERATING_PROFIT","meaning":{"fr":"","en":"Operating profit restated under IFRS 18","es":""},"expression":"a - b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Operating result presented under IAS 1","es":""},"value":860000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Interest on cash reclassified to investing","es":""},"value":120000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Share of the joint venture reclassified to investing","es":""},"value":60000,"unit":"EUR"}],"result":680000,"unit":"EUR"},{"step":"DIFFERENCE","meaning":{"fr":"","en":"Difference (restated less presented under IAS 1)","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Operating profit restated under IFRS 18","es":""},"value":680000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Operating result presented under IAS 1","es":""},"value":860000,"unit":"EUR"}],"result":-180000,"unit":"EUR"}],"rationale":{"fr":"","en":"Restated less presented: a reclassification out of operating gives a negative difference (IFRS 18, para. C2).","es":""},"references":["REF.IFRS18.C2"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000053","standard_id":"IFRS18","concept_ids":["IFRS18.CONSEQUENTIAL.IAS7_STARTING_POINT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000053","tested_point":"QST.IFRS18.000053","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000013","section_id":"rule-start"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"With the indirect method, the starting point of the reconciliation of operating cash flows remains profit for the year under IFRS 18.","es":""},"explanation":{"fr":"","en":"IFRS 18 amends IAS 7: with the indirect method, the starting point of the reconciliation of operating cash flows becomes the \"operating profit\" subtotal and no longer profit or loss or profit before tax; some reconciling items change but total operating cash flow does not (IFRS 18). Trap: Keeping the former starting point or believing that total operating cash flow changes. Rule to remember: Indirect method: start from operating profit, total operating cash flow unchanged (IFRS 18). Reference: Modification de conséquence d'IAS 7 : point de départ de la méthode indirecte.","es":""},"common_error":{"fr":"","en":"Keeping profit for the year as the starting point or believing that total operating cash flow changes.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000054","standard_id":"IFRS18","concept_ids":["IFRS18.CONSEQUENTIAL.IAS7_STARTING_POINT"],"dimension":"CALCULATION","context":"V1_QST.IFRS18.000054","tested_point":"QST.IFRS18.000054","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000013","section_id":"rule-start"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Nacre SA prepares its statement of cash flows using the indirect method, under IFRS 18. Its operating profit is {operating_profit}. It includes non-cash depreciation of {depreciation}. Inventories increased by {inventory_increase} and trade payables by {payables_increase} during the year. Case convention: no other adjustment, interest and tax paid being dealt with separately. Calculate operating cash flow before interest and tax.","es":""},"explanation":{"fr":"","en":"Method: starting point, operating profit (IFRS 18): 905,000; plus non-cash depreciation: + 260,000; less the increase in inventories: − 140,000; plus the increase in trade payables: + 30,000. Cash flow = 905,000 + 260,000 − 140,000 + 30,000 = 1,055,000. The reconciling items depend on the case, not on a rule of IFRS 18. Trap: Starting from profit for the year, or subtracting the increase in trade payables. Rule to remember: Start from operating profit, then non-cash items and working capital changes (IFRS 18). Reference: Modification de conséquence d'IAS 7 : point de départ de la méthode indirecte.","es":""},"common_error":{"fr":"","en":"Starting from profit for the year or subtracting the increase in trade payables instead of adding it.","es":""},"format":"CALCULATION","placeholders":[{"id":"operating_profit","value":"905000","unit":"EUR"},{"id":"depreciation","value":"260000","unit":"EUR"},{"id":"inventory_increase","value":"140000","unit":"EUR"},{"id":"payables_increase","value":"30000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Operating profit (starting point)","es":""},"value":"905000","unit":"EUR"},{"label":{"fr":"","en":"Non-cash depreciation","es":""},"value":"260000","unit":"EUR"},{"label":{"fr":"","en":"Increase in inventories","es":""},"value":"140000","unit":"EUR"},{"label":{"fr":"","en":"Increase in trade payables","es":""},"value":"30000","unit":"EUR"}],"steps":[{"id":"CASH_FROM_OPERATIONS","label":{"fr":"","en":"Operating cash flow before interest and tax","es":""},"answer":1055000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"CASH_FROM_OPERATIONS","meaning":{"fr":"","en":"Operating cash flow before interest and tax","es":""},"expression":"a + b - c + d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Operating profit (starting point)","es":""},"value":905000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Non-cash depreciation","es":""},"value":260000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Increase in inventories","es":""},"value":140000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Increase in trade payables","es":""},"value":30000,"unit":"EUR"}],"result":1055000,"unit":"EUR"}],"rationale":{"fr":"","en":"Start from operating profit, then non-cash items and working capital changes (IFRS 18). Reference: Modification de conséquence d'IAS 7 : point de départ de la méthode indirecte.","es":""},"references":["REF.IFRS18.IAS7.STARTING.POINT"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000055","standard_id":"IFRS18","concept_ids":["IFRS18.CONSEQUENTIAL.IAS7_STARTING_POINT"],"dimension":"APPLICATION","context":"V1_QST.IFRS18.000055","tested_point":"QST.IFRS18.000055","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000013","section_id":"rule-start"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Brume SA, which used to start from profit before tax (EUR 840,000) to reconcile its operating cash flows under the indirect method, moves to IFRS 18. What is its new starting point?","es":""},"explanation":{"fr":"","en":"IFRS 18 amends IAS 7: with the indirect method, the starting point of the reconciliation of operating cash flows becomes the \"operating profit\" subtotal and no longer profit or loss or profit before tax; some reconciling items change but total operating cash flow does not (IFRS 18). Trap: Choosing profit before financing and income taxes because it is also a specified subtotal. Rule to remember: Starting point of the indirect method: operating profit (IFRS 18). Reference: Modification de conséquence d'IAS 7 : point de départ de la méthode indirecte.","es":""},"common_error":{"fr":"","en":"Keeping profit before tax or taking profit before financing and income taxes as the starting point.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Profit for the year, after financing, income taxes and discontinued operations.","es":""},"correct":false,"feedback":{"fr":"","en":"Profit for the year is no longer the starting point: IFRS 18 amends IAS 7 to use operating profit, and no longer profit or loss or profit before tax (IFRS 18). Rule to remember: Starting point: operating profit (IFRS 18).","es":""}},{"id":"B","text":{"fr":"","en":"Profit before tax, which remains the starting point of operating cash flows.","es":""},"correct":false,"feedback":{"fr":"","en":"Profit before tax is no longer the starting point: the reconciliation starts from operating profit, and total operating cash flow does not change (IFRS 18). Rule to remember: The former starting point disappears (IFRS 18).","es":""}},{"id":"C","text":{"fr":"","en":"Profit before financing and income taxes, a specified subtotal.","es":""},"correct":false,"feedback":{"fr":"","en":"Profit before financing and income taxes includes the investing category; the starting point retained is operating profit, which excludes it (IFRS 18). Rule to remember: The starting point is the first subtotal, not the second (IFRS 18).","es":""}},{"id":"D","text":{"fr":"","en":"The \"operating profit\" subtotal of the statement of profit or loss.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000056","standard_id":"IFRS18","concept_ids":["IFRS18.CONSEQUENTIAL.IAS7_INTEREST_DIVIDENDS"],"dimension":"APPLICATION","context":"V1_QST.IFRS18.000056","tested_point":"QST.IFRS18.000056","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000013","section_id":"rule-interest"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Éolienne SA, an industrial entity with no specified main business activity (case convention), paid EUR 300,000 of dividends and EUR 80,000 of interest on a bank loan. Under IFRS 18, in which category of its statement of cash flows are these two payments classified?","es":""},"explanation":{"fr":"","en":"IFRS 18 removes for many entities the classification choices for interest and dividends in the statement of cash flows; dividends paid are classified in financing and interest paid in principle in financing; for entities with a specified main business activity, classification follows that of profit or loss. Trap: Keeping the former IAS 7 classification choices. Rule to remember: Dividends paid and interest paid: financing, outside a specified main business activity.","es":""},"common_error":{"fr":"","en":"Keeping the former classification choices for interest and dividends in the statement of cash flows.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Dividends in financing, interest at the entity's choice between operating and financing.","es":""},"correct":false,"feedback":{"fr":"","en":"The choice of classification of interest paid is removed for many entities: an entity with no specified main business activity classifies it in principle in financing. Rule to remember: No more choice between operating and financing for interest paid.","es":""}},{"id":"B","text":{"fr":"","en":"Both in financing.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Dividends at the entity's choice, interest in operating, like the expenses of the period.","es":""},"correct":false,"feedback":{"fr":"","en":"Dividends paid are classified in financing without choice, and interest paid follows financing in principle for an entity with no specified main business activity. Rule to remember: Dividends paid: financing.","es":""}},{"id":"D","text":{"fr":"","en":"Both in operating, on the grounds that they are linked to profit for the year.","es":""},"correct":false,"feedback":{"fr":"","en":"Payments of dividends and interest are not operating cash flows for this entity: dividends paid are in financing and interest paid in principle too. Rule to remember: The link with profit does not make them operating.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000058","standard_id":"IFRS18","concept_ids":["IFRS18.CONSEQUENTIAL.IAS8_MOVED"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000058","tested_point":"QST.IFRS18.000058","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000014","section_id":"rule-ias8"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"IAS 8 is renamed \"Basis of Preparation of Financial Statements\" and receives from IAS 1 requirements on going concern and the accrual basis.","es":""},"explanation":{"fr":"","en":"With IFRS 18, IAS 8 is renamed \"Basis of Preparation of Financial Statements\" and receives from IAS 1 the requirements on fair presentation and compliance, going concern, the accrual basis and accounting policy information. Trap: Believing that these general requirements remain in IFRS 18. Rule to remember: Renamed IAS 8 receives the general requirements of IAS 1.","es":""},"common_error":{"fr":"","en":"Believing that going concern and the accrual basis remain in IFRS 18 or disappear.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000059","standard_id":"IFRS18","concept_ids":["IFRS18.CONSEQUENTIAL.IAS8_MOVED"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000059","tested_point":"QST.IFRS18.000059","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000014","section_id":"rule-ias8"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Which of the following requirements does amended IAS 8 receive from IAS 1?","es":""},"explanation":{"fr":"","en":"With IFRS 18, IAS 8, renamed \"Basis of Preparation of Financial Statements\", receives from IAS 1 the requirements on fair presentation and compliance, going concern, the accrual basis and accounting policy information. The categories, the subtotals and the nature-of-expense note remain requirements of IFRS 18. Trap: Placing in IAS 8 presentation requirements specific to the statement of profit or loss. Rule to remember: In IAS 8: general requirements; in IFRS 18: presentation of profit or loss.","es":""},"common_error":{"fr":"","en":"Placing in amended IAS 8 presentation requirements specific to the statement of profit or loss.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The five categories of income and expenses of the statement of profit or loss.","es":""},"correct":false,"feedback":{"fr":"","en":"The five categories are a requirement specific to IFRS 18 for the statement of profit or loss, not a requirement taken over from IAS 1 by IAS 8. Rule to remember: The categories belong to IFRS 18, not to IAS 8.","es":""}},{"id":"B","text":{"fr":"","en":"The \"operating profit\" and \"profit before financing and income taxes\" subtotals.","es":""},"correct":false,"feedback":{"fr":"","en":"The mandatory subtotals of the statement of profit or loss belong to IFRS 18 itself, and amended IAS 8 does not receive them from IAS 1. Rule to remember: The subtotals belong to IFRS 18.","es":""}},{"id":"C","text":{"fr":"","en":"The requirements on accounting policy information.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The note on expenses by nature when expenses are presented by function.","es":""},"correct":false,"feedback":{"fr":"","en":"The note on expenses by nature is a requirement of IFRS 18 itself, linked to presentation by function, and does not move into amended IAS 8. Rule to remember: The note by nature belongs to IFRS 18.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000060","standard_id":"IFRS18","concept_ids":["IFRS18.AGGREGATION.PRINCIPLES"],"dimension":"APPLICATION","context":"V1_QST.IFRS18.000060","tested_point":"QST.IFRS18.000060","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000007","section_id":"rule-principles"},"references":["IFRS 18 §41"],"exercise":{"prompt":{"fr":"","en":"Cobalt SA presents a line \"Service revenue\" of EUR 3,000,000. It comprises recurring maintenance contracts, which share common characteristics, and one-off training sales, which share none with them and whose amount is material (case facts). What must Cobalt do with this line?","es":""},"explanation":{"fr":"","en":"Assets, liabilities, equity, income, expenses and cash flows are aggregated on the basis of shared characteristics and those without shared characteristics are disaggregated; aggregation and disaggregation must not obscure material information; no numerical threshold is set and judgement is exercised on the basis of the application guidance (IFRS 18, para. 41). Case facts: two kinds of revenue with no shared characteristics, one of them material: disaggregation is required. Trap: Invoking the absence of a threshold in order not to disaggregate. Rule to remember: Aggregate items with shared characteristics, disaggregate the others, with no numerical threshold (IFRS 18, para. 41).","es":""},"common_error":{"fr":"","en":"Invoking the absence of a numerical threshold to keep an aggregation that obscures material information.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Disaggregate the two kinds of revenue, because grouping them would obscure material information.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Keep the single line, because the standard sets no numerical threshold that requires revenue to be disaggregated.","es":""},"correct":false,"feedback":{"fr":"","en":"The absence of a numerical threshold does not exempt from disaggregating: judgement is exercised without a set threshold, and items without common characteristics are not grouped where that would obscure material information (IFRS 18, para. 41). Rule to remember: No threshold, but a judgement on the information obscured (IFRS 18, para. 41).","es":""}},{"id":"C","text":{"fr":"","en":"Keep the single line as long as each kind stays below one tenth of the line total.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard sets no fraction of the total: the assessment turns on common characteristics and on the material information that would be obscured, not on a tenth of the total (IFRS 18, para. 41). Rule to remember: No numerical threshold is imposed (IFRS 18, para. 41).","es":""}},{"id":"D","text":{"fr":"","en":"Present each contract and each sale on its own line, at the finest level of detail.","es":""},"correct":false,"feedback":{"fr":"","en":"Disaggregating to the finest level is not required: items with common characteristics are aggregated, and only those without are disaggregated (IFRS 18, para. 41). Rule to remember: Aggregate what is common, disaggregate what differs (IFRS 18, para. 41).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000061","standard_id":"IFRS18","concept_ids":["IFRS18.AGGREGATION.PRINCIPLES"],"dimension":"ANALYSIS","context":"V1_QST.IFRS18.000061","tested_point":"QST.IFRS18.000061","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000007","section_id":"rule-principles"},"references":["IFRS 18 §41"],"exercise":{"prompt":{"fr":"","en":"A reporting manager summarises the aggregation and disaggregation principles of IFRS 18 for Tamaris SA. Which of the manager's sentences is wrong?","es":""},"explanation":{"fr":"","en":"Items are aggregated on the basis of shared characteristics and disaggregated when they do not share them; aggregation and disaggregation must not obscure material information; no numerical threshold is set and judgement is exercised on the basis of the application guidance (IFRS 18, para. 41). The wrong sentence invents a threshold. Trap: Looking for a fixed percentage that decides aggregation. Rule to remember: Judgement with no numerical threshold, based on shared characteristics and material information (IFRS 18, para. 41).","es":""},"common_error":{"fr":"","en":"Looking in the standard for a fixed percentage that decides aggregation or disaggregation.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"IFRS 18 sets a numerical threshold above which an aggregation must be disaggregated into separate lines.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Items that share common characteristics are aggregated.","es":""},"correct":false,"feedback":{"fr":"","en":"This sentence is correct: assets, liabilities, income and expenses that share common characteristics are aggregated (IFRS 18, para. 41). It is not the wrong sentence; the error invents a numerical threshold.","es":""}},{"id":"C","text":{"fr":"","en":"Aggregation and disaggregation must not obscure material information, whatever readability is sought.","es":""},"correct":false,"feedback":{"fr":"","en":"This sentence is correct: aggregation and disaggregation must not obscure material information (IFRS 18, para. 41). It is not the wrong sentence; the error concerns the existence of a threshold.","es":""}},{"id":"D","text":{"fr":"","en":"Judgement is exercised with no imposed numerical threshold, on the basis of the application guidance, weighing the characteristics of the items.","es":""},"correct":false,"feedback":{"fr":"","en":"This sentence is correct: judgement is exercised with no numerical threshold, on the basis of the application guidance (IFRS 18, para. 41). It is not the wrong sentence; the error is the one that asserts a threshold.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000062","standard_id":"IFRS18","concept_ids":["IFRS18.MPM.DEFINITION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000062","tested_point":"QST.IFRS18.000062","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000009","section_id":"rule-definition"},"references":["IFRS 18 §117"],"exercise":{"prompt":{"fr":"","en":"Which of the following descriptions corresponds to a management-defined performance measure under IFRS 18?","es":""},"explanation":{"fr":"","en":"A management-defined performance measure is a subtotal of income and expenses that is used in public communications outside the financial statements, that conveys management's view of an aspect of the entity's financial performance as a whole, and that is not listed in paragraph 118 nor specifically required by IFRS Accounting Standards; the standard imposes no calculation method, but a measure calculated other than with the entity's accounting policies is flagged (IFRS 18, para. 117). Trap: Confusing a management measure with a ratio, with a required subtotal or with an imposed method. Rule to remember: Subtotal of income and expenses, communicated outside the statements, management's view, not listed (IFRS 18, para. 117).","es":""},"common_error":{"fr":"","en":"Confusing a management measure with a balance sheet ratio, with a subtotal required by the standard or with an imposed method.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A ratio between two items of the statement of financial position published by the entity in its management report.","es":""},"correct":false,"feedback":{"fr":"","en":"A ratio of balance sheet items is not a subtotal of income and expenses: the definition targets a subtotal of income and expenses, not a financial position ratio (IFRS 18, para. 117). Rule to remember: A management measure is a subtotal of income and expenses (IFRS 18, para. 117).","es":""}},{"id":"B","text":{"fr":"","en":"A subtotal that the standard requires in the statement of profit or loss, such as operating profit, whatever use management makes of it.","es":""},"correct":false,"feedback":{"fr":"","en":"A subtotal required by the standard, such as operating profit, is excluded from the definition: it is among those that are not management measures (IFRS 18, para. 117). Rule to remember: A required subtotal is not a management measure (IFRS 18, para. 117).","es":""}},{"id":"C","text":{"fr":"","en":"A subtotal of income and expenses used in public communications outside the financial statements, conveying management's view of the entity's financial performance as a whole.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"A subtotal calculated using a method that the standard imposes on all entities to ensure comparability.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard imposes no calculation method: the definition places no restriction on it, the measure remaining defined by management (IFRS 18, para. 117). Rule to remember: No restriction on the method of calculation (IFRS 18, para. 117).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000063","standard_id":"IFRS18","concept_ids":["IFRS18.MPM.DEFINITION"],"dimension":"APPLICATION","context":"V1_QST.IFRS18.000063","tested_point":"QST.IFRS18.000063","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000009","section_id":"rule-definition"},"references":["IFRS 18 §117"],"exercise":{"prompt":{"fr":"","en":"Sylve SA publishes in its annual press release a \"profit before exceptional items\", a subtotal of income and expenses that conveys management's view of the performance of the entity as a whole. This subtotal is not required by IFRS 18 nor listed among the specified subtotals (case facts). How should it be characterised?","es":""},"explanation":{"fr":"","en":"A management-defined performance measure is a subtotal of income and expenses that is used in public communications outside the financial statements, that conveys management's view of the entity's financial performance as a whole, and that is not listed in paragraph 118 nor specifically required; the standard imposes no calculation method, but a measure calculated other than with the entity's accounting policies is flagged (IFRS 18, para. 117). Case facts: the conditions are met, which rests on a judgement about the facts. Trap: Ruling out the characterisation because of the method of calculation or the place of publication. Rule to remember: All the conditions of the definition met: management measure (IFRS 18, para. 117).","es":""},"common_error":{"fr":"","en":"Ruling out the management-measure characterisation because of the method of calculation or publication outside the financial statements.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It is not a management measure, because it is calculated differently from operating profit, the specified subtotal of the statement of profit or loss.","es":""},"correct":false,"feedback":{"fr":"","en":"The definition does not restrict the method of calculation: a subtotal calculated differently from operating profit can be a management measure (IFRS 18, para. 117). Rule to remember: No restriction on the method of calculation (IFRS 18, para. 117).","es":""}},{"id":"B","text":{"fr":"","en":"It is a management-defined performance measure, since the conditions of the definition are met.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"It is not a management measure, because it is published outside the financial statements.","es":""},"correct":false,"feedback":{"fr":"","en":"Publication outside the financial statements is precisely one of the conditions of the definition: it therefore does not rule out characterisation as a management measure (IFRS 18, para. 117). Rule to remember: Use in public communications outside the statements is a condition (IFRS 18, para. 117).","es":""}},{"id":"D","text":{"fr":"","en":"It is a management measure on condition that it is presented in the statement of profit or loss.","es":""},"correct":false,"feedback":{"fr":"","en":"The definition targets subtotals used outside the financial statements, and not those of the statement of profit or loss, whose specified subtotals are excluded from the definition (IFRS 18, para. 117). Rule to remember: A management measure is communicated outside the statements (IFRS 18, para. 117).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000064","standard_id":"IFRS18","concept_ids":["IFRS18.TRANSITION.RECONCILIATION","IFRS18.MPM.EXCLUDED_SUBTOTALS"],"dimension":"CALCULATION","context":"V1_QST.IFRS18.000064","tested_point":"QST.IFRS18.000064","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000009","section_id":"rule-excluded"},"references":["IFRS 18 §C3","IFRS 18 §118"],"exercise":{"prompt":{"fr":"","en":"On transition, Colza SA reconciles line by line the restated amounts of its 2026 comparative period with those presented under IAS 1. On the financing expenses line, the amount restated under IFRS 18 is {restated_line} and the amount presented under IAS 1 is {previous_line} (case data). Calculate the difference for this line.","es":""},"explanation":{"fr":"","en":"Method: difference = restated amount − amount presented under IAS 1 = 320,000 − 150,000 = 170,000. On transition, the entity reconciles, line by line of the statement of profit or loss, the restated amounts of the comparative period with those presented under IAS 1 (IFRS 18, para. C3). Trap: Reversing the terms of the difference. Rule to remember: Transition difference = restated less presented under IAS 1 (IFRS 18, para. C3).","es":""},"common_error":{"fr":"","en":"Reversing the terms of the difference between restated amount and amount presented under IAS 1.","es":""},"format":"CALCULATION","placeholders":[{"id":"restated_line","value":"320000","unit":"EUR"},{"id":"previous_line","value":"150000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Amount restated under IFRS 18","es":""},"value":"320000","unit":"EUR"},{"label":{"fr":"","en":"Amount presented under IAS 1","es":""},"value":"150000","unit":"EUR"}],"steps":[{"id":"DIFFERENCE","label":{"fr":"","en":"Difference for the line (restated less presented)","es":""},"answer":170000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"DIFFERENCE","meaning":{"fr":"","en":"Difference for the line (restated less presented)","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Amount restated under IFRS 18","es":""},"value":320000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Amount presented under IAS 1","es":""},"value":150000,"unit":"EUR"}],"result":170000,"unit":"EUR","rationale":{"fr":"","en":"Method: difference = restated amount − amount presented under IAS 1 = 320,000 − 150,000 = 170,000.","es":""}}],"rationale":{"fr":"","en":"Transition difference = restated less presented under IAS 1 (IFRS 18, para. C3).","es":""},"references":["REF.IFRS18.C3"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000065","standard_id":"IFRS18","concept_ids":["IFRS18.MPM.TAX_NCI_EFFECT"],"dimension":"CALCULATION","context":"V1_QST.IFRS18.000065","tested_point":"QST.IFRS18.000065","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000010","section_id":"rule-tax-nci"},"references":["IFRS 18 §123"],"exercise":{"prompt":{"fr":"","en":"Falaise SA reconciles its management-defined performance measure to the comparable specified subtotal. One reconciling item, restructuring costs, is {reconciling_item}. Its income tax effect is {tax_effect}, determined using the simplified statutory-rate approach adopted by the case, and its effect on non-controlling interests is {nci_effect} (case data). Calculate the net effect of this item after tax and non-controlling interests.","es":""},"explanation":{"fr":"","en":"Method: net effect = item − tax effect − effect on non-controlling interests = 200,000 − 50,000 − 12,000 = 138,000. For each reconciling item, the entity discloses the income tax effect and the effect on non-controlling interests, and explains how the tax effect was determined; a simplified approach is possible (IFRS 18, para. 123). The rate and the approach are case data. Trap: Forgetting one of the two effects, or adding the tax effect instead of deducting it. Rule to remember: Net effect = item − tax − non-controlling interests (IFRS 18, para. 123).","es":""},"common_error":{"fr":"","en":"Forgetting the effect on non-controlling interests or adding the tax effect instead of deducting it.","es":""},"format":"CALCULATION","placeholders":[{"id":"reconciling_item","value":"200000","unit":"EUR"},{"id":"tax_effect","value":"50000","unit":"EUR"},{"id":"nci_effect","value":"12000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Reconciling item (restructuring costs)","es":""},"value":"200000","unit":"EUR"},{"label":{"fr":"","en":"Income tax effect","es":""},"value":"50000","unit":"EUR"},{"label":{"fr":"","en":"Effect on non-controlling interests","es":""},"value":"12000","unit":"EUR"}],"steps":[{"id":"NET_EFFECT","label":{"fr":"","en":"Net effect of the item","es":""},"answer":138000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"NET_EFFECT","meaning":{"fr":"","en":"Net effect of the item","es":""},"expression":"a - b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Reconciling item (restructuring costs)","es":""},"value":200000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Income tax effect","es":""},"value":50000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Effect on non-controlling interests","es":""},"value":12000,"unit":"EUR"}],"result":138000,"unit":"EUR"}],"rationale":{"fr":"","en":"Net effect = item − tax − non-controlling interests (IFRS 18, para. 123).","es":""},"references":["REF.IFRS18.123"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000066","standard_id":"IFRS18","concept_ids":["IFRS18.AGGREGATION.ROLES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000066","tested_point":"QST.IFRS18.000066","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000007","section_id":"rule-roles"},"references":["IFRS 18 §42"],"exercise":{"prompt":{"fr":"","en":"What are the respective roles of the primary statements and the notes under IFRS 18?","es":""},"explanation":{"fr":"","en":"Each primary statement and each note plays its role: the line items of the primary statements provide useful structured summaries and the notes provide the disaggregation; if material information is not presented in the primary statements, it is presented in the notes (IFRS 18, para. 42). Trap: Reversing the roles or believing that the notes duplicate or replace the statements. Rule to remember: Summaries in the primary statements, disaggregation and supplements in the notes (IFRS 18, para. 42).","es":""},"common_error":{"fr":"","en":"Reversing the roles of the primary statements and the notes, or believing that the notes duplicate or replace the statements.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The notes repeat identically the line items of the primary statements, of which they are a detailed copy.","es":""},"correct":false,"feedback":{"fr":"","en":"The notes are not a copy of the line items: they bring the disaggregation, which the structured summaries of the primary statements do not contain (IFRS 18, para. 42). Rule to remember: The notes disaggregate, they do not duplicate (IFRS 18, para. 42).","es":""}},{"id":"B","text":{"fr":"","en":"The primary statements give the detail of each line item and the notes present a structured summary.","es":""},"correct":false,"feedback":{"fr":"","en":"The roles are reversed in this proposal: the primary statements provide useful structured summaries and the notes the disaggregation, not the reverse (IFRS 18, para. 42). Rule to remember: Summary in the statements, disaggregation in the notes (IFRS 18, para. 42).","es":""}},{"id":"C","text":{"fr":"","en":"The notes replace the primary statements for any information that management considers too detailed.","es":""},"correct":false,"feedback":{"fr":"","en":"The notes do not replace the primary statements: these present structured summaries, and the notes complete them by disaggregating and by carrying the material information not found there (IFRS 18, para. 42). Rule to remember: The notes complement the primary statements (IFRS 18, para. 42).","es":""}},{"id":"D","text":{"fr":"","en":"The primary statements provide useful structured summaries and the notes the disaggregation; material information absent from the primary statements appears in the notes.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000067","standard_id":"IFRS18","concept_ids":["IFRS18.STRUCTURE.STATEMENTS_STRUCTURE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000067","tested_point":"QST.IFRS18.000067","difficulty":"BEGINNER","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000001","section_id":"rule-statements"},"references":["IFRS 18 §10"],"exercise":{"prompt":{"fr":"","en":"Which items make up a complete set of financial statements under IFRS 18? (Several answers.)","es":""},"explanation":{"fr":"","en":"A complete set of financial statements comprises a statement (or statements) of financial performance, a statement of financial position, a statement of changes in equity, a statement of cash flows, notes, comparative information in respect of the preceding period and, when required by para. 37, a statement of financial position as at the beginning of the preceding period (IFRS 18, para. 10). The management report is not part of it. Trap: including management's communication documents. Rule to remember: statements of performance, of position, of changes in equity and of cash flows, notes and comparatives.","es":""},"common_error":{"fr":"","en":"Including the management report in the complete set of financial statements.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A management report on the entity's strategy.","es":""},"correct":false,"feedback":{"fr":"","en":"The management report is not a component of the complete set of financial statements (IFRS 18, para. 10).","es":""}},{"id":"B","text":{"fr":"","en":"A statement, or statements, of financial performance.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"A statement of changes in equity and a statement of cash flows.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Notes and comparative information in respect of the preceding period.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"A statement of financial position.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000068","standard_id":"IFRS18","concept_ids":["IFRS18.SMBA.ASSESSMENT"],"dimension":"APPLICATION","context":"V1_QST.IFRS18.000068","tested_point":"QST.IFRS18.000068","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000006","section_id":"rule-assessment"},"references":["IFRS 18 §49"],"exercise":{"prompt":{"fr":"","en":"Helios SA operates a chain of stores and has also, for several years, provided financing to its customers for the purchase of its products. The evidence gathered indicates that this financing activity is one of its main business activities (facts and judgement given by the case). What does IFRS 18 require for the classification of its income and expenses?","es":""},"explanation":{"fr":"","en":"To classify its income and expenses into the operating, investing and financing categories, the entity assesses whether it has a specified main business activity, investing in particular types of assets or providing financing to customers; an entity may have more than one main business activity, and the assessment, based on evidence, follows application guidance B30 to B41 (IFRS 18, para. 49). That financing is here a main business activity is a judgement given by the case. Trap: limiting the entity to a single main business activity, or relying on a stated intention. Rule to remember: specified main business activity assessed on evidence, several activities possible.","es":""},"common_error":{"fr":"","en":"Recognising only one main business activity for an entity with several activities.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Since an entity has only one main business activity, only store sales are taken into account.","es":""},"correct":false,"feedback":{"fr":"","en":"An entity may have more than one main business activity (IFRS 18, para. 49).","es":""}},{"id":"B","text":{"fr":"","en":"Helios assesses, based on evidence, whether it has a specified main business activity, here providing financing to customers, an assessment that affects the classification into categories.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The assessment depends only on management's stated intention, without evidence.","es":""},"correct":false,"feedback":{"fr":"","en":"The assessment is based on evidence, not only on a stated intention (IFRS 18, para. 49).","es":""}},{"id":"D","text":{"fr":"","en":"Having a specified main business activity has no effect on the classification of income and expenses.","es":""},"correct":false,"feedback":{"fr":"","en":"This assessment is used precisely for the classification into the operating, investing and financing categories (IFRS 18, para. 49).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000069","standard_id":"IFRS18","concept_ids":["IFRS18.CATEGORIES.DERIVATIVES_HEDGING"],"dimension":"APPLICATION","context":"V1_QST.IFRS18.000069","tested_point":"QST.IFRS18.000069","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000004","section_id":"rule-derivatives"},"references":["IFRS 18 §B70"],"exercise":{"prompt":{"fr":"","en":"Kepler SA designates, under IFRS 9, an interest rate swap as a hedging instrument for the interest rate risk of a borrowing whose interest expenses fall in the financing category (case facts). This classification does not require grossing up gains and losses (case data). In which category of the statement of profit or loss does Kepler classify the gains and losses on the swap?","es":""},"explanation":{"fr":"","en":"Gains and losses on an instrument designated as a hedging instrument under IFRS 9 are classified in the category of the income and expenses affected by the risks the instrument is used to manage, unless this would require grossing up gains and losses, in which case they are all classified in operating (IFRS 18, para. B70). The hedged risk, the category of the interest expenses and the absence of grossing up are case data: financing category. Trap: automatically classifying a derivative in operating. Rule to remember: a hedging derivative follows the category of the items whose risk it manages.","es":""},"common_error":{"fr":"","en":"Classifying in operating the gains and losses on a derivative hedging a borrowing.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Financing, the category of the expenses affected by the risk the swap is used to manage.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Operating, the default category for any derivative.","es":""},"correct":false,"feedback":{"fr":"","en":"A hedging instrument is not classified in operating by default: it follows the category of the items affected by the risk managed (IFRS 18, para. B70).","es":""}},{"id":"C","text":{"fr":"","en":"Investing, since a derivative is a financial asset held.","es":""},"correct":false,"feedback":{"fr":"","en":"The investing category is not determined by the derivative being a financial asset, but by the risk it is used to manage (IFRS 18, para. B70).","es":""}},{"id":"D","text":{"fr":"","en":"Operating, simply because the swap is designated as a hedging instrument.","es":""},"correct":false,"feedback":{"fr":"","en":"Designation as a hedge leads to following the category of the hedged items; operating applies only if grossing up would be required, which is ruled out here (IFRS 18, para. B70).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000070","standard_id":"IFRS18","concept_ids":["IFRS18.AGGREGATION.OPEX_PRESENTATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000070","tested_point":"QST.IFRS18.000070","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000008","section_id":"rule-presentation"},"references":["IFRS 18 §78"],"exercise":{"prompt":{"fr":"","en":"How does IFRS 18 require operating expenses to be presented in the statement of profit or loss?","es":""},"explanation":{"fr":"","en":"In the operating category, the entity classifies and presents its expenses in the way that provides the most useful structured summary, by nature, by function or using a combination of both; each line item aggregates expenses on the basis of only one of these characteristics (para. 79), and presentation by function triggers the disclosures in paras. 82 and 83 (IFRS 18, para. 78). Choosing the most useful presentation is a matter of the entity's judgement. Trap: imposing a single method, or mixing nature and function in the same line item. Rule to remember: the most useful summary, one characteristic per line item.","es":""},"common_error":{"fr":"","en":"Believing that IFRS 18 imposes a single presentation of operating expenses.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Necessarily by function, for all entities.","es":""},"correct":false,"feedback":{"fr":"","en":"IFRS 18 does not impose presentation by function: the entity uses the most useful structured summary (IFRS 18, para. 78).","es":""}},{"id":"B","text":{"fr":"","en":"By nature, by function or using a combination of both, a single line item being able to aggregate expenses on both characteristics at once.","es":""},"correct":false,"feedback":{"fr":"","en":"A combination is possible in the statement, but each line item aggregates expenses on only one characteristic (IFRS 18, para. 78).","es":""}},{"id":"C","text":{"fr":"","en":"In the way that provides the most useful structured summary, by nature, by function or using a combination of both, each line item following a single characteristic.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Necessarily by nature, presentation by function being reserved for the notes.","es":""},"correct":false,"feedback":{"fr":"","en":"IFRS 18 does not impose presentation by nature: by function, or a combination, is also possible (IFRS 18, para. 78).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000071","standard_id":"IFRS18","concept_ids":["IFRS18.AGGREGATION.EXPENSES_BY_NATURE_NOTE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000071","tested_point":"QST.IFRS18.000071","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000008","section_id":"rule-note"},"references":["IFRS 18 §B84"],"exercise":{"prompt":{"fr":"","en":"In the note on expenses by nature required when it presents its expenses by function, Orbis SA may disclose only amounts recognised as expenses in the period: an amount of salaries included in the carrying amount of inventories can never be included in it.","es":""},"explanation":{"fr":"","en":"The amounts presented or disclosed by nature may not be those recognised as expenses in the period and may include amounts included in the carrying amount of an asset; an entity that discloses such amounts in the note required by para. 83 explains this qualitatively, identifying the assets concerned (IFRS 18, para. B84). Inclusion is therefore permitted, not required. Trap: believing that only amounts expensed may appear in the note. Rule to remember: amounts included in assets are allowed, with a qualitative explanation.","es":""},"common_error":{"fr":"","en":"Excluding from the note by nature the amounts included in assets.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000072","standard_id":"IFRS18","concept_ids":["IFRS18.TRANSITION.RECONCILIATION"],"dimension":"APPLICATION","context":"V1_QST.IFRS18.000072","tested_point":"QST.IFRS18.000072","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000012","section_id":"rule-reconciliation"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"Vega SA applies IFRS 18 for the first time in its annual financial statements for the year beginning on 1 January 2027; its immediately preceding comparative period is 2026, so far presented under IAS 1 (case facts). Which reconciliation does IFRS 18 require on transition?","es":""},"explanation":{"fr":"","en":"On transition, the entity reconciles, line item by line item of the statement of profit or loss, the restated amounts for the immediately preceding comparative period with those presented under IAS 1 (IFRS 18, para. C3); other reconciliations are optional (para. C6); in interim reporting under IAS 34, similar reconciliations are required in the first year (para. C5). The dates of the year and of the comparative period are case data. Trap: settling for the total, or going back to all prior periods. Rule to remember: immediately preceding comparative period, line item by line item.","es":""},"common_error":{"fr":"","en":"Reconciling only the profit or loss total of the comparative period.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A reconciliation, line item by line item of the statement of profit or loss, between the restated amounts for 2026 and those presented under IAS 1.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"No reconciliation: retrospective application is enough to inform users.","es":""},"correct":false,"feedback":{"fr":"","en":"A line-by-line reconciliation of the immediately preceding comparative period is required, in addition to retrospective application (IFRS 18, para. C3).","es":""}},{"id":"C","text":{"fr":"","en":"A reconciliation of all prior periods presented since the adoption of IFRS Accounting Standards.","es":""},"correct":false,"feedback":{"fr":"","en":"The required reconciliation covers the immediately preceding comparative period; other reconciliations are optional (IFRS 18, paras. C3 and C6).","es":""}},{"id":"D","text":{"fr":"","en":"A reconciliation of the 2026 profit or loss total only, with no line-by-line detail.","es":""},"correct":false,"feedback":{"fr":"","en":"The reconciliation is made line item by line item of the statement of profit or loss, not on the total only (IFRS 18, para. C3).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS18.000073","standard_id":"IFRS18","concept_ids":["IFRS18.CONSEQUENTIAL.IAS33_EPS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS18.000073","tested_point":"QST.IFRS18.000073","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS18","lesson_id":"LS.IFRS18.000014","section_id":"rule-ias33"},"references":["IFRS 18"],"exercise":{"prompt":{"fr":"","en":"After applying IFRS 18, Sirona SA wishes to disclose, in addition to earnings per share, an additional per-share amount (case fact). Which numerator does IAS 33, as amended by IFRS 18, permit for this amount?","es":""},"explanation":{"fr":"","en":"IFRS 18 amends IAS 33: an additional per-share amount, disclosed only in the notes and with equal prominence for basic and diluted amounts, may use as numerator only an amount attributable to ordinary equity holders of the parent derived from a total or subtotal in IFRS 18 paras. 69, 86 or 118 or from a management-defined performance measure (IAS 33, paras. 73B and 73C, as amended by IFRS 18). Trap: accepting any numerator, or presenting this amount in the statement of profit or loss. Rule to remember: a numerator attributable to ordinary equity holders of the parent, derived from an IFRS 18 total or subtotal or from a management-defined performance measure, disclosed in the notes.","es":""},"common_error":{"fr":"","en":"Calculating an additional per-share amount on a freely chosen numerator.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Any amount chosen by management, even if it derives neither from a total or subtotal specified by IFRS 18 nor from a management-defined performance measure.","es":""},"correct":false,"feedback":{"fr":"","en":"The numerator is restricted: it derives from a total or subtotal specified by IFRS 18 or from a management-defined performance measure (IAS 33, paras. 73B and 73C, as amended by IFRS 18).","es":""}},{"id":"B","text":{"fr":"","en":"An amount attributable to ordinary equity holders of the parent, derived from a total or subtotal specified by IFRS 18 or from a management-defined performance measure.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Only total profit or loss, no other numerator being permitted.","es":""},"correct":false,"feedback":{"fr":"","en":"Other numerators are permitted, derived from a total or subtotal specified by IFRS 18 or from a management-defined performance measure (IAS 33, paras. 73B and 73C, as amended by IFRS 18).","es":""}},{"id":"D","text":{"fr":"","en":"An amount attributable to all shareholders, including non-controlling interests, presented in the statement of profit or loss.","es":""},"correct":false,"feedback":{"fr":"","en":"The numerator is attributable to ordinary equity holders of the parent, and this amount is disclosed only in the notes (IAS 33, paras. 73B and 73C, as amended by IFRS 18).","es":""}}]},"scope":"CORE_STUDENT"}],"reviewTitles":{"LX.IFRS18.000001":"IFRS 18 replaces IAS 1: what changes and what stays — Understand: Orlane's question about inventories","LX.IFRS18.000002":"IFRS 18 replaces IAS 1: what changes and what stays — The rule: four landmarks on IFRS 18","LX.IFRS18.000003":"IFRS 18 replaces IAS 1: what changes and what stays — The rule: four landmarks on IFRS 18","LX.IFRS18.000004":"IFRS 18 replaces IAS 1: what changes and what stays — The other primary statements: largely maintained","LX.IFRS18.000005":"IFRS 18 replaces IAS 1: what changes and what stays — Example: Orlane's 2027 closing package","LX.IFRS18.000006":"The five categories and the operating category as the default — The rule: five categories, one logic each","LX.IFRS18.000007":"The five categories and the operating category as the default — The rule: five categories, one logic each","LX.IFRS18.000008":"The five categories and the operating category as the default — The rule: five categories, one logic each","LX.IFRS18.000009":"The five categories and the operating category as the default — The rule: the operating category is the default category","LX.IFRS18.000010":"The five categories and the operating category as the default — The rule: the operating category is the default category","LX.IFRS18.000011":"The five categories and the operating category as the default — Worked example: Marvelle's operating total","LX.IFRS18.000012":"The five categories and the operating category as the default — Professional judgement: classify by nature, document the reason","LX.IFRS18.000013":"The investing and financing categories — The rule: the investing category","LX.IFRS18.000014":"The investing and financing categories — The rule: the investing category","LX.IFRS18.000015":"The investing and financing categories — Reclassification entries at Pontval","LX.IFRS18.000016":"The investing and financing categories — The rule: the financing category","LX.IFRS18.000017":"The investing and financing categories — The rule: the financing category","LX.IFRS18.000018":"The investing and financing categories — Reclassification entries at Pontval","LX.IFRS18.000019":"The investing and financing categories — Professional judgement: finding the originating asset or liability","LX.IFRS18.000020":"Taxes, discontinued operations, foreign exchange differences and hedges — The rule: income taxes and discontinued operations","LX.IFRS18.000021":"Taxes, discontinued operations, foreign exchange differences and hedges — The rule: income taxes and discontinued operations","LX.IFRS18.000022":"Taxes, discontinued operations, foreign exchange differences and hedges — The rule: the exchange difference follows the originating item","LX.IFRS18.000023":"Taxes, discontinued operations, foreign exchange differences and hedges — Worked example: Sarlène's lines","LX.IFRS18.000024":"Taxes, discontinued operations, foreign exchange differences and hedges — Professional judgement: undue cost or effort and hedges","LX.IFRS18.000025":"Taxes, discontinued operations, foreign exchange differences and hedges — Special case: derivatives and hedging instruments","LX.IFRS18.000026":"Taxes, discontinued operations, foreign exchange differences and hedges — Professional judgement: undue cost or effort and hedges","LX.IFRS18.000029":"The required subtotals: from operating profit to profit for the period — The rule: operating profit","LX.IFRS18.000030":"The required subtotals: from operating profit to profit for the period — The rule: operating profit","LX.IFRS18.000031":"The required subtotals: from operating profit to profit for the period — Worked example: Kevrine's waterfall","LX.IFRS18.000032":"The required subtotals: from operating profit to profit for the period — The rule: profit before financing and income taxes","LX.IFRS18.000033":"The required subtotals: from operating profit to profit for the period — Worked example: Kevrine's waterfall","LX.IFRS18.000034":"The required subtotals: from operating profit to profit for the period — The rule: from this subtotal to profit for the period","LX.IFRS18.000035":"The required subtotals: from operating profit to profit for the period — Worked example: Kevrine's waterfall","LX.IFRS18.000036":"The required subtotals: from operating profit to profit for the period — Points of attention","LX.IFRS18.000037":"Entities with a specified main business activity: lenders and investors — The rule: the effects on classification","LX.IFRS18.000038":"Entities with a specified main business activity: lenders and investors — The rule: the effects on classification","LX.IFRS18.000039":"Entities with a specified main business activity: lenders and investors — Worked example: the effect on Finadis's subtotals","LX.IFRS18.000040":"Entities with a specified main business activity: lenders and investors — Reclassification entry at Finadis","LX.IFRS18.000041":"Entities with a specified main business activity: lenders and investors — Points of attention","LX.IFRS18.000042":"Entities with a specified main business activity: lenders and investors — Special case: assessing a specified main business activity","LX.IFRS18.000043":"Entities with a specified main business activity: lenders and investors — Professional judgement: concluding and documenting","LX.IFRS18.000046":"Aggregating and disaggregating: principles, roles of the statements and the label \"other\" — The rule: aggregate by shared characteristics, disaggregate the rest","LX.IFRS18.000047":"Aggregating and disaggregating: principles, roles of the statements and the label \"other\" — The rule: aggregate by shared characteristics, disaggregate the rest","LX.IFRS18.000048":"Aggregating and disaggregating: principles, roles of the statements and the label \"other\" — Example: the breakdown of \"Other expenses\" at Tarvane","LX.IFRS18.000049":"Aggregating and disaggregating: principles, roles of the statements and the label \"other\" — The rule: the primary statements summarise, the notes detail","LX.IFRS18.000050":"Aggregating and disaggregating: principles, roles of the statements and the label \"other\" — The rule: the primary statements summarise, the notes detail","LX.IFRS18.000051":"Aggregating and disaggregating: principles, roles of the statements and the label \"other\" — The rule: the label \"other\"","LX.IFRS18.000052":"Aggregating and disaggregating: principles, roles of the statements and the label \"other\" — The rule: the label \"other\"","LX.IFRS18.000053":"Aggregating and disaggregating: principles, roles of the statements and the label \"other\" — Professional judgement: deciding the level of detail","LX.IFRS18.000054":"Expenses by nature, by function or both: the paragraph 83 note — The rule: nature, function or both","LX.IFRS18.000055":"Expenses by nature, by function or both: the paragraph 83 note — The rule: nature, function or both","LX.IFRS18.000056":"Expenses by nature, by function or both: the paragraph 83 note — The rule: the single note of paragraph 83","LX.IFRS18.000057":"Expenses by nature, by function or both: the paragraph 83 note — Worked example: Dorvane's note","LX.IFRS18.000058":"Expenses by nature, by function or both: the paragraph 83 note — Worked example: Dorvane's note","LX.IFRS18.000059":"Expenses by nature, by function or both: the paragraph 83 note — The rule: the single note of paragraph 83","LX.IFRS18.000060":"Management-defined performance measures: definition and exclusions — The rule: three cumulative conditions","LX.IFRS18.000061":"Management-defined performance measures: definition and exclusions — Example: six figures published by Elvane, three conditions","LX.IFRS18.000062":"Management-defined performance measures: definition and exclusions — Professional judgement: identifying an entity's MPMs","LX.IFRS18.000063":"Management-defined performance measures: definition and exclusions — The rule: subtotals excluded from the definition","LX.IFRS18.000064":"Management-defined performance measures: definition and exclusions — The rule: subtotals excluded from the definition","LX.IFRS18.000065":"Management-defined performance measures: definition and exclusions — The objective of the MPM disclosures","LX.IFRS18.000066":"Management-defined performance measures: definition and exclusions — The objective of the MPM disclosures","LX.IFRS18.000067":"Disclosures and reconciliation of performance measures, tax and non-controlling interests effects — The rule: reconcile to the most directly comparable subtotal","LX.IFRS18.000068":"Disclosures and reconciliation of performance measures, tax and non-controlling interests effects — Worked example: Quorvane's reconciliation","LX.IFRS18.000069":"Disclosures and reconciliation of performance measures, tax and non-controlling interests effects — The rule: reconcile to the most directly comparable subtotal","LX.IFRS18.000070":"Disclosures and reconciliation of performance measures, tax and non-controlling interests effects — Worked example: Quorvane's reconciliation","LX.IFRS18.000071":"Disclosures and reconciliation of performance measures, tax and non-controlling interests effects — The rule: the tax and non-controlling interests effect of each item","LX.IFRS18.000074":"Effective date, early application and EU endorsement — The rule: effective date and early application","LX.IFRS18.000075":"Effective date, early application and EU endorsement — Example: the first period depending on the year-end","LX.IFRS18.000076":"Effective date, early application and EU endorsement — The rule: effective date and early application","LX.IFRS18.000077":"Effective date, early application and EU endorsement — EU endorsement: Regulation (EU) 2026/338","LX.IFRS18.000078":"Effective date, early application and EU endorsement — EU endorsement: Regulation (EU) 2026/338","LX.IFRS18.000079":"Transition: restated comparative, reconciliation and overview of what changes from IAS 1 — The rule: retrospective application and effect on subtotals","LX.IFRS18.000080":"Transition: restated comparative, reconciliation and overview of what changes from IAS 1 — The rule: retrospective application and effect on subtotals","LX.IFRS18.000081":"Transition: restated comparative, reconciliation and overview of what changes from IAS 1 — Worked example: Hermine's 2026 comparative","LX.IFRS18.000082":"Transition: restated comparative, reconciliation and overview of what changes from IAS 1 — Reclassification entry for the comparative","LX.IFRS18.000083":"Transition: restated comparative, reconciliation and overview of what changes from IAS 1 — The rule: reconcile the restated comparative with the IAS 1 one","LX.IFRS18.000084":"Transition: restated comparative, reconciliation and overview of what changes from IAS 1 — The rule: reconcile the restated comparative with the IAS 1 one","LX.IFRS18.000085":"Transition: restated comparative, reconciliation and overview of what changes from IAS 1 — Overview: from IAS 1 to IFRS 18, what changes","LX.IFRS18.000086":"IAS 7 amended: new starting point, interest and dividends — The rule: one change of starting point, an identical total flow","LX.IFRS18.000087":"IAS 7 amended: new starting point, interest and dividends — Worked example: two routes, one flow","LX.IFRS18.000088":"IAS 7 amended: new starting point, interest and dividends — Worked example: two routes, one flow","LX.IFRS18.000089":"IAS 7 amended: new starting point, interest and dividends — The rule: interest and dividends, fewer choices","LX.IFRS18.000090":"IAS 7 amended: new starting point, interest and dividends — The rule: interest and dividends, fewer choices","LX.IFRS18.000091":"IAS 7 amended: new starting point, interest and dividends — The rule: interest and dividends, fewer choices","LX.IFRS18.000092":"IAS 8 and IAS 33 amended: requirements taken from IAS 1 and additional per-share amounts — The rule: IAS 8 renamed and completed","LX.IFRS18.000093":"IAS 8 and IAS 33 amended: requirements taken from IAS 1 and additional per-share amounts — The rule: IAS 8 renamed and completed","LX.IFRS18.000094":"IAS 8 and IAS 33 amended: requirements taken from IAS 1 and additional per-share amounts — Points of attention","LX.IFRS18.000095":"IAS 8 and IAS 33 amended: requirements taken from IAS 1 and additional per-share amounts — IAS 33: the numerator of additional per-share amounts","LX.IFRS18.000096":"IAS 8 and IAS 33 amended: requirements taken from IAS 1 and additional per-share amounts — IAS 33: the numerator of additional per-share amounts","QST.IFRS18.000001":"IFRS 18 replaces IAS 1: what changes and what stays — The rule: four landmarks on IFRS 18","QST.IFRS18.000002":"IFRS 18 replaces IAS 1: what changes and what stays — The rule: four landmarks on IFRS 18","QST.IFRS18.000003":"IFRS 18 replaces IAS 1: what changes and what stays — The rule: four landmarks on IFRS 18","QST.IFRS18.000004":"IFRS 18 replaces IAS 1: what changes and what stays — The other primary statements: largely maintained","QST.IFRS18.000005":"IFRS 18 replaces IAS 1: what changes and what stays — The other primary statements: largely maintained","QST.IFRS18.000006":"The five categories and the operating category as the default — The rule: five categories, one logic each","QST.IFRS18.000007":"The five categories and the operating category as the default — The rule: five categories, one logic each","QST.IFRS18.000008":"The five categories and the operating category as the default — The rule: five categories, one logic each","QST.IFRS18.000009":"The five categories and the operating category as the default — The rule: the operating category is the default category","QST.IFRS18.000010":"The five categories and the operating category as the default — The rule: the operating category is the default category","QST.IFRS18.000011":"The five categories and the operating category as the default — The rule: the operating category is the default category","QST.IFRS18.000012":"The investing and financing categories — The rule: the investing category","QST.IFRS18.000013":"The investing and financing categories — The rule: the investing category","QST.IFRS18.000015":"The investing and financing categories — The rule: the financing category","QST.IFRS18.000016":"The investing and financing categories — The rule: the financing category","QST.IFRS18.000018":"Taxes, discontinued operations, foreign exchange differences and hedges — The rule: income taxes and discontinued operations","QST.IFRS18.000019":"Taxes, discontinued operations, foreign exchange differences and hedges — The rule: income taxes and discontinued operations","QST.IFRS18.000020":"Taxes, discontinued operations, foreign exchange differences and hedges — The rule: income taxes and discontinued operations","QST.IFRS18.000021":"Taxes, discontinued operations, foreign exchange differences and hedges — The rule: the exchange difference follows the originating item","QST.IFRS18.000023":"The required subtotals: from operating profit to profit for the period — The rule: operating profit","QST.IFRS18.000024":"The required subtotals: from operating profit to profit for the period — The rule: operating profit","QST.IFRS18.000025":"The required subtotals: from operating profit to profit for the period — The rule: operating profit","QST.IFRS18.000026":"The required subtotals: from operating profit to profit for the period — The rule: profit before financing and income taxes","QST.IFRS18.000027":"The required subtotals: from operating profit to profit for the period — The rule: profit before financing and income taxes","QST.IFRS18.000028":"The required subtotals: from operating profit to profit for the period — The rule: profit before financing and income taxes","QST.IFRS18.000029":"The required subtotals: from operating profit to profit for the period — The rule: from this subtotal to profit for the period","QST.IFRS18.000030":"The required subtotals: from operating profit to profit for the period — The rule: from this subtotal to profit for the period","QST.IFRS18.000031":"The required subtotals: from operating profit to profit for the period — The rule: from this subtotal to profit for the period","QST.IFRS18.000032":"Entities with a specified main business activity: lenders and investors — The rule: the effects on classification","QST.IFRS18.000034":"Aggregating and disaggregating: principles, roles of the statements and the label \"other\" — The rule: the label \"other\"","QST.IFRS18.000035":"Aggregating and disaggregating: principles, roles of the statements and the label \"other\" — The rule: the label \"other\"","QST.IFRS18.000036":"Expenses by nature, by function or both: the paragraph 83 note — The rule: nature, function or both","QST.IFRS18.000037":"Expenses by nature, by function or both: the paragraph 83 note — The rule: nature, function or both","QST.IFRS18.000038":"Expenses by nature, by function or both: the paragraph 83 note — The rule: the single note of paragraph 83","QST.IFRS18.000039":"Expenses by nature, by function or both: the paragraph 83 note — The rule: the single note of paragraph 83","QST.IFRS18.000040":"Management-defined performance measures: definition and exclusions — The rule: subtotals excluded from the definition","QST.IFRS18.000041":"Management-defined performance measures: definition and exclusions — The rule: subtotals excluded from the definition","QST.IFRS18.000042":"Disclosures and reconciliation of performance measures, tax and non-controlling interests effects — The rule: reconcile to the most directly comparable subtotal","QST.IFRS18.000043":"Disclosures and reconciliation of performance measures, tax and non-controlling interests effects — The rule: reconcile to the most directly comparable subtotal","QST.IFRS18.000044":"Disclosures and reconciliation of performance measures, tax and non-controlling interests effects — The rule: reconcile to the most directly comparable subtotal","QST.IFRS18.000045":"Effective date, early application and EU endorsement — The rule: effective date and early application","QST.IFRS18.000046":"Effective date, early application and EU endorsement — The rule: effective date and early application","QST.IFRS18.000047":"Effective date, early application and EU endorsement — The rule: effective date and early application","QST.IFRS18.000048":"Effective date, early application and EU endorsement — EU endorsement: Regulation (EU) 2026/338","QST.IFRS18.000049":"Effective date, early application and EU endorsement — EU endorsement: Regulation (EU) 2026/338","QST.IFRS18.000050":"Transition: restated comparative, reconciliation and overview of what changes from IAS 1 — The rule: retrospective application and effect on subtotals","QST.IFRS18.000051":"Transition: restated comparative, reconciliation and overview of what changes from IAS 1 — The rule: retrospective application and effect on subtotals","QST.IFRS18.000053":"IAS 7 amended: new starting point, interest and dividends — The rule: one change of starting point, an identical total flow","QST.IFRS18.000054":"IAS 7 amended: new starting point, interest and dividends — The rule: one change of starting point, an identical total flow","QST.IFRS18.000055":"IAS 7 amended: new starting point, interest and dividends — The rule: one change of starting point, an identical total flow","QST.IFRS18.000056":"IAS 7 amended: new starting point, interest and dividends — The rule: interest and dividends, fewer choices","QST.IFRS18.000058":"IAS 8 and IAS 33 amended: requirements taken from IAS 1 and additional per-share amounts — The rule: IAS 8 renamed and completed","QST.IFRS18.000059":"IAS 8 and IAS 33 amended: requirements taken from IAS 1 and additional per-share amounts — The rule: IAS 8 renamed and completed","QST.IFRS18.000060":"Aggregating and disaggregating: principles, roles of the statements and the label \"other\" — The rule: aggregate by shared characteristics, disaggregate the rest","QST.IFRS18.000061":"Aggregating and disaggregating: principles, roles of the statements and the label \"other\" — The rule: aggregate by shared characteristics, disaggregate the rest","QST.IFRS18.000062":"Management-defined performance measures: definition and exclusions — The rule: three cumulative conditions","QST.IFRS18.000063":"Management-defined performance measures: definition and exclusions — The rule: three cumulative conditions","QST.IFRS18.000064":"Management-defined performance measures: definition and exclusions — The rule: subtotals excluded from the definition","QST.IFRS18.000065":"Disclosures and reconciliation of performance measures, tax and non-controlling interests effects — The rule: the tax and non-controlling interests effect of each item","QST.IFRS18.000066":"Aggregating and disaggregating: principles, roles of the statements and the label \"other\" — The rule: the primary statements summarise, the notes detail","QST.IFRS18.000067":"IFRS 18 replaces IAS 1: what changes and what stays — The other primary statements: largely maintained","QST.IFRS18.000068":"Entities with a specified main business activity: lenders and investors — Special case: assessing a specified main business activity","QST.IFRS18.000069":"Taxes, discontinued operations, foreign exchange differences and hedges — Special case: derivatives and hedging instruments","QST.IFRS18.000070":"Expenses by nature, by function or both: the paragraph 83 note — The rule: nature, function or both","QST.IFRS18.000071":"Expenses by nature, by function or both: the paragraph 83 note — The rule: the single note of paragraph 83","QST.IFRS18.000072":"Transition: restated comparative, reconciliation and overview of what changes from IAS 1 — The rule: reconcile the restated comparative with the IAS 1 one","QST.IFRS18.000073":"IAS 8 and IAS 33 amended: requirements taken from IAS 1 and additional per-share amounts — IAS 33: the numerator of additional per-share amounts"}}