MFRS 8 = IFRS8

MFRS124 = IFRS124

A. MERS 8 Operating Segments sets out four key steps that need to be followed in order to identify an operating segment. List the FOUR (4) key steps. (4 marks) B. Segment disclosures are widely regarded as some of the most useful disclosures in financial reports because of the extent to which they disaggregate financial information into meaningful and often revealing groupings. Discuss this assertion by reference to the objectives of financial reporting by segments. (5 marks) C. Explain what the "management approach" used in MERS 8 Operating Segments means. (3 marks) D. Explain what related party transactions are according to MFRS 124 Related Party Disclosure. (1 marks) E. Discuss why it is important to disclose related party transactions, explaining the criteria which determine a related party relationship. (7 marks)