IFRS 8 — Operating Segments - IAS Plus
2024-11-10 15:42IFRS 8 requires particular classes of entities (essentially those with publicly traded securities) to disclose information about their operating segments, products and services, the geographical areas in which they operate, and their major customers. Information is based on internal management reports, both in the identification of operating segments and measurement of disclosed segment ...
International Financial Reporting Standard 8 Operating Segments (IFRS 8) is set out in paragraphs 1-37 and Appendices A and B. All the paragraphs have equal authority. Paragraphs in bold type state the main principles. Definitions of terms are given in the Glossary for International Financial Reporting Standards.
25.4 Identifying operating segments - Viewpoint
25.4.1 Business activities. Business activities are ongoing economic and operating activities that create value for a reporting entity, such as the production and sale of a product to a customer. Identifying operating segments that engage in business activities is usually straightforward and is primarily based on a reporting entity's revenue ...
IFRS 8 - Identifying operating segments | Grant Thornton insights
This is particularly key for entities that operate in a variety of classes of business, geographical locations, regulatory or economic environments or markets. IFRS 8 'Operating Segments' aligns external reporting through the identification and reporting of operating segments with what is reported internally by management. Identifying ...
IFRS 8 Operating Segments | Explained with Examples
Example 2: Identifying Reportable Operating Segments. Oil Horse, Inc. is a company engaged in upstream and downstream oil and gas operations. It has been defining its operating segments as upstream, downstream, chemicals and financing. Due to the sheer size of each segment, they all met the quantitative threshold for definition of reportable ...
Measurement of operating segment profit or loss, assets and liabilities (paragraph 27) The accounting policy information about operating segments is the same as that described as part of the material accounting policy information, except that pension expense for each operating segment is recognised and measured on the basis of cash payments to ...
IFRS 8 Operating Segments | ACCA Global
Identification of operating segments. IFRS 8 defines an operating segment as a component of an entity: that engages in revenue earning business activities. whose operating results are regularly reviewed by the chief operating decision maker. The term 'chief operating decision maker' is not as such defined in IFRS8 as it refers to a function ...
國際會計準則理事會(IASB) 於2006年11月30日發布 IFRS 8 Operating Segments !，該準則將取 代 IAS 14 Segment Reporting !，對會計年度開始日在2009年1月1日 含 以後之財務報表強 制生效，並得提前適用。IFRS 8一經生效，國際財務報告準則(International Financial Reporting
IFRS 8 Operating Segments - summary - YouTube
https://www.cpdbox.com/This is just the short executive summary of IFRS 8 and does NOT replace the full standard - you can see the full text on IFRS Foundati...
IFRS 8 — Operating Segments - IAS Plus
whose operating results are regularly reviewed by the entity's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and; for which discrete financial information is available. IFRS 8 requires an entity to report financial and descriptive information about its reportable ...
Operating Segments (IFRS 8) - IFRScommunity.com
An operating segment, as per IFRS 8.5, is a component of an entity that: Engages in business activities generating revenues and incurring expenses, including those from intra-group transactions. Has its operational results regularly reviewed by the entity's chief operating decision maker for resource allocation and performance assessment.
Operating segment definition — AccountingTools
An operating segment is a component of an entity that is a profit center, that has discrete financial information available, and whose results are reviewed regularly by the entity's chief operating decision maker for purposes of performance assessment and resource allocation. An operating segment generally has a segment manager who is ...
How to Identify Operating Segments under IFRS 8
The identification of operating segments is based on the management approach, which involves assessing how senior management evaluates the company's performance and makes decisions about resource allocation.. Steps to identify operating segments. Identify the components of the company; The first step is to identify the different components of the company that could be considered operating ...
International Financial Reporting Standard 8 Operating Segments - IFRS
Generally, an operating segment has a segment manager who is directly accountable to and maintains regular contact with the chief operating decision maker to discuss operating activities, financial results, forecasts, or plans for the segment. The term 'segment manager' identifies a function, not necessarily a manager with a specific title. The chief operating decision maker [Refer ...
Operating Segments (IFRS 8) - Wiley Online Library
As per IFRS 8, an operating segment is a component of an entity, which engages in business activities from which it may earn revenues and incur expenses, whose operating results are reviewed regularly by the entity's CODM to make decisions about resources to be allocated to the segment and assess its performance, and that has available discrete ...
Operating Segments - Wiley IFRS 2017 ... - Wiley Online Library
If management judges that an operating segment identified as a reportable segment in the immediately preceding periods is of continuing significance, information about that segment must, per IFRS 8, continue to be reported separately in the current period even if it no longer meets the criteria for reportability. This chapter details the ...
IFRS - IFRS 8 Operating Segments
In April 2001 the International Accounting Standards Board (Board) adopted IAS 14 Segment Reporting, which had originally been issued by the International Accounting Standards Committee in August 1997.IAS 14 Segment Reporting replaced IAS 14 Reporting Financial Information by Segment, issued in August 1981.. In November 2006 the Board issued IFRS 8 Operating Segments to replace IAS 14.
Operating Segments - IFRS® Made Easy - Wiley Online Library
An operating segment is a component of an entity that is a profit center, has discrete financial information available, and whose results are regularly reviewed by the entity's chief operating decision maker for purposes of performance assessment and resource allocation. An operating segment generally has a segment manager who is accountable to ...
Illustrative examples - Operating Segments - IFRS
Operating Segments. Examples from IFRS 8 (IG2, IG3, IG4, IG5 and IG6) representing some of the disclosures required by IFRS 8 for operating segments using block and detailed XBRL tagging. Diversified Company has five reportable segments: car parts, motor vessels, software, electronics and finance. The car parts segment produces replacement ...
Operating Segments - Wiley Interpretation and Application of IFRS ...
International Financial Reporting Standards (IFRS) 8 establishes how an entity is to report information about its operating segments in annual financial statements. Additionally, due to a consequential amendment made to International Accounting Standards (IAS) 34, entities are required to report selected information about their operating ...
Illustrative examples - Operating Segments
Operating Segments. Examples from IFRS 8 (IG2, IG3, IG4, IG5 and IG6) representing some of the disclosures required by IFRS 8 for operating segments using block and detailed XBRL tagging. Diversified Company has five reportable segments: car parts, motor vessels, software, electronics and finance. The car parts segment produces replacement ...
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Operating Segments (IFRS 8) - International Trends in Financial ...
This chapter examines the operating segments (IFRS 8) standard that applies to the consolidated financial statements of a group with a parent and to the separate or individual financial statements of an entity. An entity should disclose information to enable users of its financial statements to evaluate the nature and financial effects of the ...
OPERATING SEGMENTS - Wiley 2021 Interpretation and Application of IFRS ...
Segmental information is essential for good management as it enables management to monitor performance within its specific business and geographical regions and to decide how best to allocate resources to segments.