IAS 14 Can anyone explain it??

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Can anyone explain IAS 14 Segment Reporting a bit clearer please.

What is Business segment and Geographical segment

Cheers

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:IAS 14 Can anyone explain it??

    Hi Kate.

    The definitions are:

    Business segment: A component of an enterprise that (a) provides a single product or service or a group of related products and services and (b) that is subject to risks and returns that are different from those of other business segments.

    Geographical segment: A component of an enterprise that (a) provides products and services within a particular economic environment and (b) that is subject to risks and returns that are different from those of components operating in other economic environments.

    Scott.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:IAS 14 Can anyone explain it??

    This may help you too.

    http://www.iasb.org/uploaded_files/documents/8_63_ias14-sum.pdf

    Regards

    Dean
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:IAS 14 Can anyone explain it??

    So put into simple terms then is it

    Business Segment would be a particular product which is shown within the accounts as part of the main picture and on its own so potential investors etc could see how that particular product/service was performing.
    And similarly for Geographical except it would be each branch of the company that would be shown in that way.?????
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:IAS 14 Can anyone explain it??

    Just for information, if you're studying this for the exam, I'm sure that in the Osborne book it says that this won't be assessed in an exam.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:IAS 14 Can anyone explain it??

    Gill, you may wish to take another look, as it is an examinable IAS
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:IAS 14 Can anyone explain it??

    The following is the list of IASs AND IFRS that are examinable. You will be required to know the defintions:

    IAS 1
    IAS 2
    IAS 7
    IAS 8
    IAS 12
    IAS 14
    IAS 16
    IAS17
    IAS18
    IAS23
    IAS27
    IAS28
    IAS33
    IAS36
    IAS38
    IAS40
    IFRS 3 & 5

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:IAS 14 Can anyone explain it??

    wow....... and they say its supposed to be a practical test, not a memory test!!!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:IAS 14 Can anyone explain it??

    Wait until you get to ACCA, there are alot more!!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:IAS 14 Can anyone explain it??

    Im doing CIMA.

    Point taken though
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:IAS 14 Can anyone explain it??

    Don't mean to make things worse but haven't you left off IAS 10 & 37??
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:IAS 14 Can anyone explain it??

    Realised after I sent the message. Just checking if anyone is paying attention!!

Categories

Privacy Policy