Many accountants and financial analysts contend that a company should report financial data for operating segments of

Question:

Many accountants and financial analysts contend that a company should report financial data for operating segments of the enterprise.

Required
1. Explain what financial reporting for the operating segments of a business enterprise involves.
2. Identify the reasons for requiring financial data to be reported by operating segments.
3. Identify the possible disadvantages of requiring financial data to be reported by operating segments.