Intangibles and cashflow

Multiple-choice questions. In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please reread the article before attempting the questions again.

Which two major projects have been added to the IASB workplan following the third agenda consultation?

Intangible assets and cashflows

Fair value and consolidation

Revenue recognition and leases

Sustainability reporting and digital assets

What is one of the primary objectives of the IASB's intangible assets project?

To outsource standard development to external consultants

To align intangible asset standards with US GAAP

To update IAS 38 to address newer intangible items

To eliminate IAS 38 altogether

What is the focus of Stream 1 in the intangible assets project?

Assessing user needs for information about intangible assets

Developing new rules on revaluations of intangible assets

Creating new measurement rules for intangible assets

Increasing the recognition of internally generated intangible assets

Which of the following is NOT mentioned as a test case for updating the definition of intangible assets?

Brand valuation

Agile software development

Cloud computing

AI and data resources

How many objectives are outlined in the intangible assets project?

Two

Three

Five

One

What decision has the IASB made on the classification of cashflows?

To redefine operating, investing and financing activities

To remove all categories and use a single cashflow statement

To align categories with IFRS 18 classifications

To keep existing classifications and not redefine them

Which area is still under consideration in the cashflows project?

Segment-based cashflow reporting

Developing a 'free cashflow' definition

Aligning with IFRS 18 definitions

Improving cashflow statements for financial institutions

When is feedback from advisory boards and stakeholders expected to be presented to the IASB?

It has already been presented

Late 2025

In 2027

In 2026

Which of the following changes was made to the statement of cashflow following the issue of IFRS 18, Presentation and Disclosure in Financial Statements?

Interest received is to be recorded within financing activities

Interest paid is to be recorded within financing activities

Interest paid is to be recorded within operating activities

Interest received is to be recorded within investing activities

When will the fourth agenda consultation be launched?

2029

2028

2026

2025

1 unit