Question: 1. What is an operating segment? 2. What is a reportable segment according to FASB ASC Topic 280? What criteria are used in determining what

1. What is an operating segment? 2. What is a reportable segment according to FASB ASC Topic 280? What criteria are used in determining what operating segments are also reportable segments? 3. Why do you think financial analysts are interested in segment disclosures? 4. Describe what is meant by the management approach to the disclosure of operating segments. 5. How are the segments that are not reportable segments handled in the required disclosures of FASB ASC Topic 280? 6. Describe the quantitative thresholds that dictate whether an operating segment must be separately disclosed in the footnotes. 7. Describe the 10% operating-profit test for determining reportable segments. 8. Describe the 10% asset test for determining reportable segments

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

2. What is a reportable segment according to FASB ASC Topic 280? What criteria are used in determining what operating segments are also reportable segments?

What is a reportable segment according to FASB ASC Topic 280? What criteria are used in determining what operating segments are also reportable segments?

The information that follows is for Cob Company at and for the year ended December 31, 2016. Cob's operating segments are cost centers currently used for internal planning and control purposes....

opcia 3. Why do you think financial analysts are interested in segment disclosures? 4. Describe what is meant by the "management approach" to the disclosure of operating segments. 5. How are the...

5. How are the segments that are not reportable segments handled in the required disclosures of FASB ASC Topic 280? 6. Describe the quantitative thresholds that dictate whether an operating segment...

P 15-6 Apply threshold tests-Disclosure The consolidated income statement of Tut Company for 2016 is as follows (in thousands): Tut's operations are conducted through three domestic operating...

P 15-7 Apply threshold tests-Disclosure The information that follows is for Cob Company at and for the year ended December 31, 2011 Cob's operating segments are cost centers currently used for...

Read pages 39-49 of the Alphabet Inc (Google; GOOG) DEF 14A SEC filing. This is the mandatory disclosure regarding executive compensation. Answer each of the questions, below. Each answer should be...

Hello, having trouble putting my PROJECT 1 assignment together and need assistance with creating an outline. I have attached the PROJECT 1 assignement and another document for this inquiry. Thanks...

What are the basic segment reporting requirements under US GAAP, and would you say they favor those stakeholders who prefer more or who prefer less disclosure? Reference: Please use Segment reporting...

4. In your own words - What is the nature of the convolution theorem2

A major focus of this course is the process of financial reporting. (a) What is meant by the term financial reporting? (b) What are the principal accounting reports involved in the financial...

In a stock valuation formula, what does the symbol D 1 represent? Estimated dividend in time period 1 , or next year's dividend when solving for the currert price The discount rate for time period 1

Which of the following stakeholder types possesses two of the three attributes of power, legitimacy, and urgency? Group of answer choices Dominant Discretionary Demanding Definitive

1 How will BP be able to judge whether or not the management development or ethics programme has been successful? BP operates in the competitive and challenging environment of global energy...

2 What are the initial reasons that organisations have for introducing training and development?

2 Consider some of the applications of Second Life for training and development Duke Corporate Education (Duke CE) is a not- for- profit company that delivers custom corporate education to clients...