Financial Strategy

14.7 — Module Self-Assessment

Use these questions to test your understanding after completing each section. These are CFO-level application questions — not exam memorization. Each one mirrors a real decision you will face.

1. Your board asks why profit is up but cash is down this quarter. Walk them through your answer using IAS 7 principles.

2. Your entity signs a three-year contract to deliver an AI data platform plus monthly advisory reports. How do you apply IFRS 15 to recognize revenue?

3. Your fund acquires a corporate bond at PKR 10M. The issuer's credit quality deteriorates significantly in Year 2 but has not defaulted. What are your IFRS 9 impairment obligations?

4. You are valuing a private equity stake in a Series B startup for your year-end accounts. What IFRS 13 level does this fall under? What disclosures are required?

5. A subsidiary leases office space for 5 years at PKR 500K/month. Walk through the IFRS 16 journal entries at commencement and at the end of Year 1.

6. Your auditor challenges a PKR 50M provision you have recognized for a customer dispute. Using IAS 37, defend or withdraw the provision.

7. Your group acquires 35% of a fintech startup. It does not control the board but has one seat. Which standard applies and how do you account for it?

8. Your tax advisor identifies a deferred tax asset of PKR 30M on unused tax losses. Under what conditions can you recognize it on the balance sheet?