By way of contrast, AASB8 paragraph 5 now defines an operating segment as a component of an
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Question:
By way of contrast, AASB8 paragraph 5 now defines an operating segment as a component of an entity:
that engages in business activities; (ii) whose operating results are regularly reviewed by the Chief Operating Decision Maker; and (iii) for which discrete financial information is available.
Required:
Explain some of the flexibilities in AASB8 that allow for variable presentation of a reporting entity’s segment disclosures. Why might management seek to opportunistically draw on these flexibilities to affect a disclosure that reveals as little as possible, and/or presents a group’s segment information in a favourable light?
Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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