Information Needs and Setting Accounting Standards The Financial Accounting Standards Board requires companies to supplement their consolidated fi nancial statements with disclosures about segments of their businesses. To comply with this standard, Time Warner Inc.’s 2008 annual report provides various disclosures for the fi ve segments in which it operates: AOL, Cable, Filmed Entertainment, Networks, and Publishing.

Required Which users of accounting information do you think the FASB had in mind when it set this standard? What types of disclosures do you think these users would fi nd helpful?

AppendixLO1