The aim of the Financial Reporting Council (FRC) is to promote transparency and integrity in business by setting different requirements in financial reporting.

a) Explain how the FRCs Guidance on the Strategic Report promote integrity in business without compromising on being innovative in presenting narrative information. (7 marks)

b) Explain the term operating segment as used in IFRS8 and briefly discuss the four main classes of information required to be by disclosed by IFRS8. (10 marks)

Total: 17 marks Word limit: 400 words