Explain why segmental information is required in company

Assignment Help Financial Accounting

Reference no: EM133209427

1. Explain why segmental information is required in company accounts.

2. Identify and explain the two main bases for segmental reporting that for many years were required by ?nancial reporting standards in this area. Discuss the advantages and disad- vantages of each basis.

3. What approach is required by the current IASB standard in this area? What are seen to be the advantages and disadvantages of this approach and why might those producing financial reports prefer it to alternative approaches?

Reference no: EM133209427

Questions Cloud

Preparing the bank reconciliation : The fraud was carried out by the cashier who was responsible for depositing all receipts and preparing the bank reconciliation.

Auditor deal with inventory count issues : How should an auditor deal with the inventory count issues discussed above?

Confused between property taxes and income taxes : An income tax couple is confused between property taxes and income taxes and asks you, their accountant, to explain the difference to them.

Define compensating variation and equivalent variation : Define Compensating Variation and Equivalent Variation and show how they related. Which one is the appropriate measure of the "value of life" in risky project.

Explain why segmental information is required in company : Explain why segmental information is required in company accounts. What approach is required by the current IASB standard in this area?

What is cost of goods sold for fiscal year : From the perspective of the group consisting of John Ltd and Tyler Ltd, what is the cost of goods sold for the fiscal year ended 30 June 2022?

New zealand companies act : Based on the New Zealand Companies Act, what are the criteria for a company to be considered solvent?

Statement assertion in different levels : Discuss each financial statement assertion in different levels. What are the different level of financial statements assertions that we consider in Audit?

Explain purpose and major contents of engagement : Explain the purpose and major contents of an engagement letter between the auditor and their client.

User Account

All Pages