You are compiling the consolidated financial statements for Winsor Corporation International. The corporations accountant, Anthony Reese, has

Question:

You are compiling the consolidated financial statements for Winsor Corporation International. The corporation’s accountant, Anthony Reese, has provided you with the segment information shown below.

Note 7: Major Segments of Business
WCI conducts funeral service and cemetery operations in the United States and Canada. Substantially all revenues of WCI’s major segments of business are from unaffi liated customers. Segment information for fi scal 2013, 2012, and 2011 follows.

                

Instructions
Determine which of the above segments must be reported separately and which can be combined under the category “Other.” Then, write a one-page memo to the company’s accountant, Anthony Reese, explaining the following.

(a) What segments must be reported separately and what segments can be combined.
(b) What criteria you used to determine reportable segments.
(c) What major items for each must be disclosed.

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Related Book For  book-img-for-question

Intermediate Accounting

ISBN: 978-0470587287

14th Edition

Authors: kieso, weygandt and warfield.

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