You are the financial accountant of Global Network plc, an environmental lobbying company that was established in Dublin in 1995. In recent years, Global Network plc has developed into an international group and it reports internally on the basis of the geographical region in which its lobbying activities take place, with the directors allocating resources and assessing performance on this basis. Global Network plc’s results on a regional basis for the year ended 31 December 2017 can be summarised as follows:

The other geographical regions include Africa, Asia and South America. Given the competitive nature of Global Network plc’s activities, the directors are sensitive about the extent of disclosures made by the company. ;
Requirement Prepare a memorandum addressed to the directors of Global Network plc that |
clearly:
1. explains how the principles of IFRS 8 Operating Segments apply to Global Network ple; and 2. illustrates the disclosures required by Global Network plc for the year ended 31 December 2017 in accordance with IFRS 8 Operating Segments.

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Revenue Profit Assets Liabilities 000 000 000 000 United Kingdom and Ireland 522,000 74,000 802,000 220,000 North America Mainland Europe Other Geographical Regions 180,000 31,000 631,000 193,000 624,000 129,000 866,000 268,000 676,000 2,002,000 116,000 1,270,000 350,000 415,000 3,569,000 1,096,000