{"id":6399,"date":"2026-05-15T11:54:47","date_gmt":"2026-05-15T09:54:47","guid":{"rendered":"https:\/\/tulipemedia.com\/?p=6399"},"modified":"2026-05-15T11:56:24","modified_gmt":"2026-05-15T09:56:24","slug":"exercice-compte-de-resultat-sig-caf","status":"publish","type":"post","link":"https:\/\/tulipemedia.com\/en\/exercice-compte-de-resultat-sig-caf\/","title":{"rendered":"Case study: profit and loss statement by nature and by function (including operating income and cash flow)"},"content":{"rendered":"

Now that we have made good progress in the Business management and finance course (the outline of which can be found here)<\/a>, I propose that you do a complete corrected exercise devoted to the profit and loss account (by nature and by function), as well as to intermediate management balances.<\/p>\n

Understanding the income statement is a fundamental part of any management curriculum. However, many students struggle to clearly see the connections between the nature-based version required by the French GAAP and the function-based version used by IFRS standards.<\/p>\n

This exercise offers a complete practical case study for you to practice: 15 questions, 6 parts, a single common thread (a fictional artisanal biscuit factory, L'Atelier du Go\u00fbt) and a step-by-step solution that explains each line of reasoning.<\/p>\n

The program includes: reconstruction of production flows, calculation of cost price, construction of the two profit and loss accounts, intermediate management balances (SIG), self-financing capacity (CAF) by the two methods, and performance analysis by ratios.<\/p>\n

Allow approximately 75 minutes to complete it independently, or use it as a revision aid by directly reviewing the answer key.<\/p>\n

<\/p>\n

\n

\n Exercise \u2014 The Taste Workshop
\n <\/h2>\n

\n Income statement by nature, by function, intermediate management balances and cash flow\n <\/p>\n

<\/p>\n

\n Difficulty level:<\/strong> \u2605 Direct application | \u2605\u2605 Reasoning | \u2605\u2605\u2605 Analysis \/ Synthesis\n <\/div>\n

<\/p>\n

\n

Context -<\/strong> L'Atelier du Go\u00fbt is an artisanal biscuit factory that produces boxes of premium biscuits (shortbread with dried fruit and dark chocolate). The company employs a production team, a small sales force, and an administrative department. You will be responsible for reconstructing the financial statements for the fiscal year, preparing the profit and loss statement in its two formats (by nature and by function), and then analyzing the performance.<\/p>\n<\/p><\/div>\n

Selling price of a box of biscuits:<\/strong> 22 \u20ac<\/p>\n

<\/p>\n

Raw materials consumed per box<\/h3>\n

\n Stocks are expressed in box equivalents<\/em> (quantity of material needed to make the number of boxes indicated).\n <\/p>\n\n\n\n\n\n\n\n\n
Raw materials<\/th>\nCost per box (\u20ac)<\/th>\nInitial stock<\/th>\nFinal stock<\/th>\n<\/tr>\n<\/thead>\n
Organic T55 flour<\/td>\n0,80<\/td>\n1 400<\/td>\n2 100<\/td>\n<\/tr>\n
PDO butter<\/td>\n1,20<\/td>\n850<\/td>\n650<\/td>\n<\/tr>\n
Cane sugar + vanilla<\/td>\n0,40<\/td>\n1 100<\/td>\n1 450<\/td>\n<\/tr>\n
Dark chocolate 70 %<\/td>\n1,10<\/td>\n700<\/td>\n950<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/p>\n

Production and stocks of finished goods<\/h3>\n
    \n
  • Production of the exercise: 14,000 boxes<\/strong><\/li>\n
  • Initial stock of finished boxes: 1,800 units<\/strong><\/li>\n
  • Final stock of finished boxes: 2,600 units<\/strong><\/li>\n<\/ul>\n

    <\/p>\n

    Personnel costs (annual gross salaries)<\/h3>\n

    Social charges represent 45 %<\/strong> gross salaries.<\/p>\n\n\n\n\n\n\n\n
    Function<\/th>\nGross salaries (\u20ac)<\/th>\n<\/tr>\n<\/thead>\n
    Production staff (workshop)<\/td>\n52 000<\/td>\n<\/tr>\n
    Sales staff<\/td>\n28 000<\/td>\n<\/tr>\n
    Administrative staff<\/td>\n18 000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    <\/p>\n

    Other external expenses of the financial year<\/h3>\n\n\n\n\n\n\n\n\n\n\n
    Nature<\/th>\nAmount (\u20ac)<\/th>\nAssignment<\/th>\n<\/tr>\n<\/thead>\n
    Workshop rent<\/td>\n14 000<\/td>\nProduction<\/td>\n<\/tr>\n
    Energy (workshop)<\/td>\n6 200<\/td>\nProduction<\/td>\n<\/tr>\n
    Transport on sales<\/td>\n4 800<\/td>\nCommercial<\/td>\n<\/tr>\n
    Advertisement<\/td>\n5 500<\/td>\nCommercial<\/td>\n<\/tr>\n
    Accountant fees<\/td>\n3 500<\/td>\nAdministration<\/td>\n<\/tr>\n
    Office supplies<\/td>\n1 200<\/td>\nAdministration<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    <\/p>\n

    Fixed assets and depreciation<\/h3>\n\n\n\n\n\n\n\n
    Immobilization<\/th>\nAcquisition value (\u20ac)<\/th>\nDepreciation period<\/th>\nAssignment<\/th>\n<\/tr>\n<\/thead>\n
    Convection oven<\/td>\n95 000<\/td>\n20 years<\/td>\nProduction<\/td>\n<\/tr>\n
    Commercial vehicle<\/td>\n18 000<\/td>\n5 years<\/td>\nCommercial<\/td>\n<\/tr>\n
    Computer hardware<\/td>\n6 000<\/td>\n3 years<\/td>\nAdministration<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    <\/p>\n

    Other operations of the financial year<\/h3>\n
      \n
    • Sale at the end of the fiscal year of the convection oven (acquired 4 years ago) for 82 000 \u20ac<\/strong><\/li>\n
    • Loan interest charges: outstanding principal 24 000 \u20ac<\/strong>, rate 4,5 %<\/strong><\/li>\n
    • Corporate tax rates: 35 %<\/strong><\/li>\n<\/ul>\n
      \n

      <\/p>\n

      Part 1 \u2014 Reconstructing the Flows \u2605<\/span><\/h3>\n

      <\/p>\n

      \n

      1.<\/strong> Determine the quantity of boxes actually sold during the exercise as well as the change in finished goods inventory (in units).<\/p>\n

      Boxes sold:
      \n units\n <\/p>\n

      Change in finished goods inventory:
      \n units\n <\/p>\n<\/p><\/div>\n

      <\/p>\n

      \n

      2.<\/strong> Calculate the revenue for the fiscal year. The valuation of the stored production will be addressed in Q5.<\/p>\n

      Revenue:
      \n \u20ac\n <\/p>\n<\/p><\/div>\n

      <\/p>\n

      \n

      3.<\/strong> Reconstruct the total amount of raw material purchases for the fiscal year.<\/p>\n

      Raw material purchases:
      \n \u20ac\n <\/p>\n<\/p><\/div>\n

      <\/p>\n

      \n

      4.<\/strong> Calculate the change in raw material stock (PCG convention: Beginning stock \u2013 Ending stock).<\/p>\n

      Change in raw material inventory:
      \n \u20ac\n <\/p>\n<\/p><\/div>\n

      \n

      <\/p>\n

      Part 2 \u2014 Production Cost \u2605\u2605<\/span><\/h3>\n

      <\/p>\n

      \n

      5.<\/strong> Calculate the total cost price of a box of biscuits by integrating uniquely<\/em> Production costs: raw materials, production labor, other external production costs, and production depreciation. Deduce the valuation of the stored production.<\/p>\n

      Unit cost price:
      \n \u20ac\n <\/p>\n

      Stored production:
      \n \u20ac\n <\/p>\n<\/p><\/div>\n

      \n

      <\/p>\n

      Part 3 \u2014 Income Statement by Nature \u2605\u2605<\/span><\/h3>\n

      <\/p>\n

      \n

      6.<\/strong> Construct the profit and loss statement by nature by completing the items below.<\/p>\n

      Production sold:
      \n \u20ac\n <\/p>\n

      + Stored production:
      \n \u20ac\n <\/p>\n

      = Output of the exercise:
      \n \u20ac\n <\/p>\n

      \u2013 Raw material consumption (purchases + change SI\u2013SF):
      \n \u20ac\n <\/p>\n

      \u2013 Other external charges (total):
      \n \u20ac\n <\/p>\n

      = Added value:
      \n \u20ac\n <\/p>\n

      \u2013 Personnel costs (including all functions):
      \n \u20ac\n <\/p>\n

      = Gross operating surplus (EBE):
      \n \u20ac\n <\/p>\n

      \u2013 Depreciation allowances (total):
      \n \u20ac\n <\/p>\n

      = Operating result:
      \n \u20ac\n <\/p>\n

      \u2013 Financial charges:
      \n \u20ac\n <\/p>\n

      = Current profit before tax:
      \n \u20ac\n <\/p>\n

      \u00b1 Non-recurring result (capital gain or loss on disposal):
      \n \u20ac\n <\/p>\n

      = Result before tax:
      \n \u20ac\n <\/p>\n

      \u2013 Corporate tax:
      \n \u20ac\n <\/p>\n

      = Net result:
      \n \u20ac\n <\/p>\n<\/p><\/div>\n

      \n

      <\/p>\n

      Part 4 \u2014 Profit and Loss Statement by Function \u2605\u2605\u2605<\/span><\/h3>\n

      \n Methodological reminder:<\/strong> In the presentation by function (IFRS\/Anglo-Saxon standard), expenses are reclassified according to their destination<\/em> (production, commercial, administrative) and no longer according to their nature<\/em>. The cost of goods sold (CPV) includes all production costs associated with the units actually sold.\n <\/p>\n

      <\/p>\n

      \n

      7.<\/strong> Calculate the cost of goods sold (CPV) from the unit production cost and the number of boxes sold.<\/p>\n

      Cost of products sold:
      \n \u20ac\n <\/p>\n<\/p><\/div>\n

      <\/p>\n

      \n

      8.<\/strong> Calculate the total amount of commercial and administrative expenses (group personnel + other external expenses + depreciation of each function).<\/p>\n

      Commercial expenses:
      \n \u20ac\n <\/p>\n

      Administrative fees:
      \n \u20ac\n <\/p>\n<\/p><\/div>\n

      <\/p>\n

      \n

      9.<\/strong> Build the profit and loss statement by function up to the operating profit.<\/p>\n

      Revenue:
      \n \u20ac\n <\/p>\n

      \u2013 Cost of products sold:
      \n \u20ac\n <\/p>\n

      = Gross margin:
      \n \u20ac\n <\/p>\n

      \u2013 Commercial expenses:
      \n \u20ac\n <\/p>\n

      \u2013 Administrative fees:
      \n \u20ac\n <\/p>\n

      = Operating result:
      \n \u20ac\n <\/p>\n<\/p><\/div>\n

      <\/p>\n

      \n

      10.<\/strong> Verify that the operating result by function is identical to that obtained by nature. Explain the origin of this equality (hint: consider the role of stored production vs. CPV).<\/p>\n