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Additional Information: You were able to salvage same limited annount of information from the notes left behind hy Pennyworth and transcribed these into three separate sections. REQUIRED: A. You were able to acquire some notes which the assistant had jotted down on a sheet of paper while he was preparing to work on the report. These were as follows: 1. The total revenues of the Surveillance division was 25% of the total revenues of the company 2. The total revenues of the Apparel division was 7% of the external revenues of the company 3. The return on assets for the Communication division was 35%. 4. The relurn on sales for the Apparel division was 40% (negative apparel division pxisted an operating loss). 5. The profits for the Aviation division was 181% of its total assets 1. Determine the several missing primary numbers which are blank and marked N01-N36, in the table given above. Show detailed computations for each figure. Also show your computations for other supporting figures which maybe be required for the computation of these numbers. B. Next, the assistant applied the roquired tests to determine which of the six divisions discussed above are to be considered as reportable segments and obtained the following information: Revenue test 1. The total revenues for the Combat division exceeded the recoue test threshold figure by S261.0XX). 2. Similarly, the total revenues for the Aviation division cxccoded the revenue test threshold figure by S176,000. 2. Identify which of the six divisions shown above are to be considered as reportable segments. Be sure to indicate in detail how these segments have met all the classification requirements as specified by IFRS. If you have made any exceptions to the IFRS requirements, be sure to clearly specify them and give reasons for doing so. 3. Identify and describe the three additional factors under IFRS to be considered while applying the tests identifying reportable segments. (ii) Operating profit test Not sure about this section. To be determined later. 4. IFRS requires the disclosures of specific financial data related to the reporting for segments. Use the data as determined by you to report the required information in the following format given below: (iii) Identifiable Assets test: The test threshold figure for identifiable assets amounted to $64,000. 1. The identifiable assets for the Combat division exceeded the test threshold figure by $136,000. 2. Similarly, the identifiable assets for the Apparel division was less than the test threshold figure by $27,000. 3. The Transport division reported its annual interest expense for the year to be $1,280). This interest cxpensc, accruing annually, was paid in cash at a coupon rate of 5% on long term bonds. The bonds were the only liabilities for the division and their amount was duly reported at the year end. Other Total C. The liabilities for each segment equaled 80% of the assets of that respective segment litems/Divisions External Revenues Intersegment Revenues Total Revenues Cost of Goods Sold Operating Expenses Total Expenses Operating Profit (Loss) Identifiable Assets Aviation Figure I - in '000 Combat Surveillance Transport Apparel Communication Noil NOS NOG NOS 0 5 ,000 21.000 20,000 NOS 09 NIC NII .55 0.6 0.7 0.75 0.56 Total 54.000 0.45 Operations Divisions Revues External Inter-carnent Total Revenues xat af Ciods Sold Cost of Goods Sold | Operating Expenses Operating Profitto) Assets Liabilities Liabilities N18 N14 (108,000 NISI (25 900) N19 N2 N16 N21 N1 (29,900 N24 N23 62,000 2,500) NZS N27 28 29 30 56.000 NA NEN3435 45.000 Additional Information: You were able to salvage same limited annount of information from the notes left behind hy Pennyworth and transcribed these into three separate sections. REQUIRED: A. You were able to acquire some notes which the assistant had jotted down on a sheet of paper while he was preparing to work on the report. These were as follows: 1. The total revenues of the Surveillance division was 25% of the total revenues of the company 2. The total revenues of the Apparel division was 7% of the external revenues of the company 3. The return on assets for the Communication division was 35%. 4. The relurn on sales for the Apparel division was 40% (negative apparel division pxisted an operating loss). 5. The profits for the Aviation division was 181% of its total assets 1. Determine the several missing primary numbers which are blank and marked N01-N36, in the table given above. Show detailed computations for each figure. Also show your computations for other supporting figures which maybe be required for the computation of these numbers. B. Next, the assistant applied the roquired tests to determine which of the six divisions discussed above are to be considered as reportable segments and obtained the following information: Revenue test 1. The total revenues for the Combat division exceeded the recoue test threshold figure by S261.0XX). 2. Similarly, the total revenues for the Aviation division cxccoded the revenue test threshold figure by S176,000. 2. Identify which of the six divisions shown above are to be considered as reportable segments. Be sure to indicate in detail how these segments have met all the classification requirements as specified by IFRS. If you have made any exceptions to the IFRS requirements, be sure to clearly specify them and give reasons for doing so. 3. Identify and describe the three additional factors under IFRS to be considered while applying the tests identifying reportable segments. (ii) Operating profit test Not sure about this section. To be determined later. 4. IFRS requires the disclosures of specific financial data related to the reporting for segments. Use the data as determined by you to report the required information in the following format given below: (iii) Identifiable Assets test: The test threshold figure for identifiable assets amounted to $64,000. 1. The identifiable assets for the Combat division exceeded the test threshold figure by $136,000. 2. Similarly, the identifiable assets for the Apparel division was less than the test threshold figure by $27,000. 3. The Transport division reported its annual interest expense for the year to be $1,280). This interest cxpensc, accruing annually, was paid in cash at a coupon rate of 5% on long term bonds. The bonds were the only liabilities for the division and their amount was duly reported at the year end. Other Total C. The liabilities for each segment equaled 80% of the assets of that respective segment litems/Divisions External Revenues Intersegment Revenues Total Revenues Cost of Goods Sold Operating Expenses Total Expenses Operating Profit (Loss) Identifiable Assets Aviation Figure I - in '000 Combat Surveillance Transport Apparel Communication Noil NOS NOG NOS 0 5 ,000 21.000 20,000 NOS 09 NIC NII .55 0.6 0.7 0.75 0.56 Total 54.000 0.45 Operations Divisions Revues External Inter-carnent Total Revenues xat af Ciods Sold Cost of Goods Sold | Operating Expenses Operating Profitto) Assets Liabilities Liabilities N18 N14 (108,000 NISI (25 900) N19 N2 N16 N21 N1 (29,900 N24 N23 62,000 2,500) NZS N27 28 29 30 56.000 NA NEN3435 45.000
