AASB 8/IFRS 8 requires entities to disclose information about products and services, geographical areas and major customers.

Question:

AASB 8/IFRS 8 requires entities to disclose information about products and services, geographical areas and major customers. Discuss why such information may benefit users of financial statements.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Reporting

ISBN: 9780730396413

4th Edition

Authors: Janice Loftus, Ken Leo, Sorin Daniliuc, Belinda Luke, Hong Nee Ang, Mike Bradbury, Dean Hanlon, Noel Boys, Karyn Byrnes

See More Books

Question Posted: Apr 08, 2024 11:01 PM

See More Questions

The growth of international activities has been rapid over time. These activities include areas of international trade, international investment, international bond and equity offerings, capital...
Accounting & Auditing Research Eighth Edition: Tools and StrategiesRead Appendix A, "Sample Brief Memorandum," that starts on page 194 of the textbook. In 2-3 pages (12 point font, double...
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
Discuss three quotes from the YouTube video (put time stamps after you type the quote) and explain why chose this quote. https://youtu.be/h86MGjGAtYk?si=_1hMyOefl0L3E4ox Example: Radio is "still...
A fire has destroyed a large percentage of the financial records of the Inferno Company. You have the task of piecing together information in order to release a financial report. You have found the...
Consider the following problem, and categorize according to the different axis of problem complexity: create an algorithm to determine which song from a collection to recommend to a user, based on...
5. For the example of the call option in Section 2, verify with a numerical example that the value of the call is increasing in the spread of the prices around the mean of $40.
When a soccer ball is kicked toward a player and the player deflects the ball by "heading" it, the acceleration of the head during the collision can be significant. Figure 2-38 gives the measured...
Forsyth of Canada is a manufacturer of mens dress shirts. Each mens dress shirt requires 19 separate pieces, which are cut by spreading many plies of fabric onto a long table, then a mechanical knife...
The controversy of segment reporting is that it is based on information provided to the CODM. Some argue that this makes segment reporting non-comparable. Others argue that it is valuable because...
Explain why the disclosure requirements of AASB 8/IFRS 8 are said to be less prescriptive compared with those of other standards.
Name four authentication policies that can be enforced using technology and four authentication policies that cannot be enforced using technology. Discuss the reasons why the second four policies...
Pink Jeep Tours offers off-road tours to individuals and groups visiting the Southwestern U.S. hotspots of Sedona, Arizona, and Las Vegas, Nevada. Take a tour of the companys Web site at...
The following are unrelated accounting practices: 1. Pine Company purchased a new $\$ 30$ snow shovel that is expected to last six years. The shovel is used to clear the firm's front steps during...
Identify whether the following statements are true or false. 1. One argument for IFRS is that there is less globalization in the world. 2. IFRS is accepted as GAAP in every country of the world. 3....
You will need isometric dot paper for this question. Part of a pattern using four rhombuses is drawn on isometric dot paper below. By drawing two more rhombuses, complete the pattern so that it has a...
Fred Flores operates a golf driving range. For each of the following financial items related to his business, indicate the financial statement (or statements) in which the item would be reported:...
The Medequip Company produces precision medical diagnostic equipment at two factories. Three medical centers have placed orders for this months production output. The table below shows what the cost...
On April 29, 2015, Auk Corporation acquires 100% of the outstanding stock of Amazon Corporation (E & P of $750,000) for $1.2 million. Amazon has assets with a fair market value of $1.4 million (basis...
Ventaz Corp manufactures small windows for back yard sheds. Historically, its demand has ranged from 30 to 50 windows per day with an average of 4646. Alex is one of the production workers and he...
Which of the following statements is not true regarding the $500 credit for dependent other than a qualifying child credit. Cannot be claimed on the same tax return if the child tax credit is also...
Grind Co. is considering replacing an existing machine. The new machine is expected to reduce labor costs by $127,000 per year for 5 years. Depreciation on the new machine is $57,000 compared with...

AASB 8/IFRS 8 requires entities to disclose information about products and services, geographical areas and major customers.

Question:

Step by Step Answer:

Segment disclosures provide users of financial statements with an insight into a...View the full answer

Financial Reporting

Students also viewed these Business questions