Question
Financial Accounting- Segment disclosure In 2016, Woolworths has chosen to split what was one segment in 2015 ('Australian Food Liquor and Petrol'), into what is
Financial Accounting- Segment disclosure
In 2016, Woolworths has chosen to split what was one segment in 2015 ('Australian Food Liquor and Petrol'), into what is now 2 segments ('Australian Food and Petrol' and 'Endeavour Drinks Group'). It would seem that Endeavour would have met both the revenue and results qualitative thresholds (AASB8 (13)) in 2015. Demonstrate these calculations. Given that, refer to AASB8 to comment on how Woolworths might have justified merging these 2 segments in the past. Why do you think they might have chosen to demerge them now?
Resources:Woolworths Limited 2016, Annual Report extract.
Woolworths Limited 2015, Annual Report extract.
AASB 8 Segment Reporting.
AASB 124 Related Party Disclosures.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Managerial Accounting For Managers
Authors: Eric Noreen
1st Edition
73526975, 978-0073526973
