Operating segments, Financial Accounting

Assignment Help:

Vincent Ltd operates solely in Western Australia and the chief operating decision maker has identified five operating segments: Mining, Insurance, Retailing, Manufacturing and Transport.  The following information is provided to you for the year ending 30 June 2012:

 

Segment

Revenue

($000)

Segment

Result

($000)

Segment

Assets

($000)

Mining

11 100

2 835

18 000

Insurance

4 950

-7 800

7 500

Retailing

2 100

750

3 000

Manufacturing

600

240

9 000

Transport

6 960

 3 525

7 500

Additional Information

Thirty per cent of the revenue earnt by the Transport segment was generated from intersegment sales from the Mining segment.

Required

Determine which of the five operating segments are reportable using the guidelines provided in the relevant accounting standard and offer any explanations as required.  Show all workings.


Related Discussions:- Operating segments

Return on investment, Return on Investment (ROI) - Ratio measure of the pro...

Return on Investment (ROI) - Ratio measure of the profits achieved by a firm by its fundamental operations. An indicator of management's general efficiency andeffectiveness. The si

Realisation of assets-liquidation of companies, Realisation of assets 1...

Realisation of assets 1. Divisible property : The ownership of the company's property does not vest in the liquidator (unless the court makes a vesting order: s.240); but

Secured creditors-bankruptcy and liquidation, SECURED CREDITORS A secur...

SECURED CREDITORS A secured creditor may: Rely on his security and not prove at all. Surrender his security and prove for the full amount of the debt. Realise his s

Formula of annuity, In common terms the present value of a regular annuity ...

In common terms the present value of a regular annuity may be shown as given below: PVNn = A/(1 + k) + A/(1 + k) 2 + ..................+ A/(1 + k) N = A (1/(1 + k) + 1/(

Design a organisational strategy, Q. Design a organisational strategy? ...

Q. Design a organisational strategy? The objectives to which organisational approach relates depend on the relative power of different stakeholders associated with the company

Disclaimer-liquidation of companies, Disclaimer The liquidator may disc...

Disclaimer The liquidator may disclaim onerous property consisting of: 1.    Land burdened with onerous covenants; 2.    Stocks and shares; 3.    Unprofitable contracts, or 4.

Acc 400, d. Prepare the summary journal entry required to transfer finished...

d. Prepare the summary journal entry required to transfer finished component kits from the Cutting Department to the Finishing Department in January. e. Compute the total cost assi

Determine straight value and conversion value , Banana Computer has a perpe...

Banana Computer has a perpetual, convertible 7% annual coupon bond outstanding. The bond has a face value of $1,000 and has a conversion price of $40. The required return on an oth

Prepare a master budget, Prepare a master budget You have just been hi...

Prepare a master budget You have just been hired as a new management trainee by XYZ Limited, a distributor of earrings to various retail outlets located in shopping malls acro

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd