QUESTION 3 The following information was obtained from the segment Information presented to the Chlef Operating Decision Maker of H Limited and its subsidiaries for the year ended 31 December 2021: a C Segment A Segment B Segment C Segment D Segment E Segment F Total Sales N$ 700 000 500 000 2 300 000 900 000 800 000 4 000 000 9 200 000 Profit N$ 300 000 200 000 2 700 000 3 200 00 Loss N$ 250 000 1 000 000 450 000 What are operating segments and what is the criteria of arriving at operating segments Discuss the factors to be considered when deciding to aggregate operating segments 1 700 000 REQUIRED: Indicate which of the above segments will be reportable operating segments in terms of the quantitative thresholds laid down by par 13 of IFRS 8. Assets N$ 500 000 1 000 000 1 500 000 600 000 1 000 000 1 000 000 5 600 000 MARKS 5 15 5 100% Wraith Limited 10% Ori Limited Asgard Limited 30% Genii Limited REQUIRED: 30% Athosian Limited 100% Nox Limited 45% Mr Deadalus is the Chief Financial Officer of Asgard Limited. Mrs Deadalus, the wife of Mr Deadalus is a partner in Orion Ltd. Orion Inc is the accounting firm responsible for the compiling of the financial records of the Asgard group. The accounting fees for the reporting period ended 31 December 2021 was N$500 000. 1. Nox Limited is responsible for the transport of the inventory of Asgard Limited. Nox Limited charged Asgard Limited N$2 500 000 for the safe transport of all the gold and gemstones that were mined. Wraith Limited is an engineering company. They are responsible for all the maintenance on the mining equipment. Wraith Limited invoiced Asgard Limited for all the maintenance amounting to N$10 000 000 for the reporting period ended 31 December 2021. Asgard Limited invoiced Athosian Limited for the maintenance provided by Wraith Limited to the amount of N$2 500 000. Genii Limited prepared a contract for a lease agreement for Athosian Limited at no cost. Disclose all relevant information required by IAS 24 Related party disclosure, in the notes to Asgard Limited's own financial statements for the year ended 31 December 2021 MARKS 6 QUESTION 3 The following information was obtained from the segment Information presented to the Chlef Operating Decision Maker of H Limited and its subsidiaries for the year ended 31 December 2021: a C Segment A Segment B Segment C Segment D Segment E Segment F Total Sales N$ 700 000 500 000 2 300 000 900 000 800 000 4 000 000 9 200 000 Profit N$ 300 000 200 000 2 700 000 3 200 00 Loss N$ 250 000 1 000 000 450 000 What are operating segments and what is the criteria of arriving at operating segments Discuss the factors to be considered when deciding to aggregate operating segments 1 700 000 REQUIRED: Indicate which of the above segments will be reportable operating segments in terms of the quantitative thresholds laid down by par 13 of IFRS 8. Assets N$ 500 000 1 000 000 1 500 000 600 000 1 000 000 1 000 000 5 600 000 MARKS 5 15 5 100% Wraith Limited 10% Ori Limited Asgard Limited 30% Genii Limited REQUIRED: 30% Athosian Limited 100% Nox Limited 45% Mr Deadalus is the Chief Financial Officer of Asgard Limited. Mrs Deadalus, the wife of Mr Deadalus is a partner in Orion Ltd. Orion Inc is the accounting firm responsible for the compiling of the financial records of the Asgard group. The accounting fees for the reporting period ended 31 December 2021 was N$500 000. 1. Nox Limited is responsible for the transport of the inventory of Asgard Limited. Nox Limited charged Asgard Limited N$2 500 000 for the safe transport of all the gold and gemstones that were mined. Wraith Limited is an engineering company. They are responsible for all the maintenance on the mining equipment. Wraith Limited invoiced Asgard Limited for all the maintenance amounting to N$10 000 000 for the reporting period ended 31 December 2021. Asgard Limited invoiced Athosian Limited for the maintenance provided by Wraith Limited to the amount of N$2 500 000. Genii Limited prepared a contract for a lease agreement for Athosian Limited at no cost. Disclose all relevant information required by IAS 24 Related party disclosure, in the notes to Asgard Limited's own financial statements for the year ended 31 December 2021 MARKS 6 QUESTION 3 The following information was obtained from the segment Information presented to the Chlef Operating Decision Maker of H Limited and its subsidiaries for the year ended 31 December 2021: a C Segment A Segment B Segment C Segment D Segment E Segment F Total Sales N$ 700 000 500 000 2 300 000 900 000 800 000 4 000 000 9 200 000 Profit N$ 300 000 200 000 2 700 000 3 200 00 Loss N$ 250 000 1 000 000 450 000 What are operating segments and what is the criteria of arriving at operating segments Discuss the factors to be considered when deciding to aggregate operating segments 1 700 000 REQUIRED: Indicate which of the above segments will be reportable operating segments in terms of the quantitative thresholds laid down by par 13 of IFRS 8. Assets N$ 500 000 1 000 000 1 500 000 600 000 1 000 000 1 000 000 5 600 000 MARKS 5 15 5 100% Wraith Limited 10% Ori Limited Asgard Limited 30% Genii Limited REQUIRED: 30% Athosian Limited 100% Nox Limited 45% Mr Deadalus is the Chief Financial Officer of Asgard Limited. Mrs Deadalus, the wife of Mr Deadalus is a partner in Orion Ltd. Orion Inc is the accounting firm responsible for the compiling of the financial records of the Asgard group. The accounting fees for the reporting period ended 31 December 2021 was N$500 000. 1. Nox Limited is responsible for the transport of the inventory of Asgard Limited. Nox Limited charged Asgard Limited N$2 500 000 for the safe transport of all the gold and gemstones that were mined. Wraith Limited is an engineering company. They are responsible for all the maintenance on the mining equipment. Wraith Limited invoiced Asgard Limited for all the maintenance amounting to N$10 000 000 for the reporting period ended 31 December 2021. Asgard Limited invoiced Athosian Limited for the maintenance provided by Wraith Limited to the amount of N$2 500 000. Genii Limited prepared a contract for a lease agreement for Athosian Limited at no cost. Disclose all relevant information required by IAS 24 Related party disclosure, in the notes to Asgard Limited's own financial statements for the year ended 31 December 2021 MARKS 6 QUESTION 3 The following information was obtained from the segment Information presented to the Chlef Operating Decision Maker of H Limited and its subsidiaries for the year ended 31 December 2021: a C Segment A Segment B Segment C Segment D Segment E Segment F Total Sales N$ 700 000 500 000 2 300 000 900 000 800 000 4 000 000 9 200 000 Profit N$ 300 000 200 000 2 700 000 3 200 00 Loss N$ 250 000 1 000 000 450 000 What are operating segments and what is the criteria of arriving at operating segments Discuss the factors to be considered when deciding to aggregate operating segments 1 700 000 REQUIRED: Indicate which of the above segments will be reportable operating segments in terms of the quantitative thresholds laid down by par 13 of IFRS 8. Assets N$ 500 000 1 000 000 1 500 000 600 000 1 000 000 1 000 000 5 600 000 MARKS 5 15 5 100% Wraith Limited 10% Ori Limited Asgard Limited 30% Genii Limited REQUIRED: 30% Athosian Limited 100% Nox Limited 45% Mr Deadalus is the Chief Financial Officer of Asgard Limited. Mrs Deadalus, the wife of Mr Deadalus is a partner in Orion Ltd. Orion Inc is the accounting firm responsible for the compiling of the financial records of the Asgard group. The accounting fees for the reporting period ended 31 December 2021 was N$500 000. 1. Nox Limited is responsible for the transport of the inventory of Asgard Limited. Nox Limited charged Asgard Limited N$2 500 000 for the safe transport of all the gold and gemstones that were mined. Wraith Limited is an engineering company. They are responsible for all the maintenance on the mining equipment. Wraith Limited invoiced Asgard Limited for all the maintenance amounting to N$10 000 000 for the reporting period ended 31 December 2021. Asgard Limited invoiced Athosian Limited for the maintenance provided by Wraith Limited to the amount of N$2 500 000. Genii Limited prepared a contract for a lease agreement for Athosian Limited at no cost. Disclose all relevant information required by IAS 24 Related party disclosure, in the notes to Asgard Limited's own financial statements for the year ended 31 December 2021 MARKS 6