Question: Franklin Corporation is a diversified company that operates in five

Franklin Corporation is a diversified company that operates in five different industries: A, B, C, D, and E. The following information relating to each segment is available for 2011. Sales of segments B and C included intersegment sales of $20,000 and $100,000, respectively.
Instructions
(a) Determine which of the segments are reportable under IFRS based on each of the following:
1. Revenue test
2. Operating profit (loss) test
3. Assets test
(b) Prepare the necessary disclosures.
(c) The corporation’s accountant recently commented, “If I have to disclose our segments individually, the only people who will gain are our competitors and the only people who will lose are our present shareholders.” Evaluate this comment.

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  • CreatedAugust 23, 2015
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