O'Reilly logo

Wiley GAAP 2008 by Colorado Steven M. Bragg Englewood, Ralph Nach American Express Tax and Business Inc., Barry J. Epstein

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Definitions of Terms

Assets testOne of the three 10% tests; used to determine whether operating segments are separately reportable.
Chief operating decision maker (CODM)The person(s) at the reporting entity level whose general function (not specific title) is to allocate resources to, and assess the performance of, the segments. Within a reporting entity, this authority does not necessarily need to be vested in a single individual; rather, the responsibilities can be fulfilled by a group of individuals.
Common costsOperating expenses incurred by the reporting entity for the benefit of more than one segment.
Corporate assetsAssets maintained for general corporate purposes and not used in the operations of any segment.
Expenditures for segment assetsAdditions to a segment's long‐lived assets; generally, property, plant, and equipment.
Financial reportIncludes any aggregation of information that includes one or more complete sets of financial statements, such as an annual report to stockholders or a filing with the Securities and Exchange Commission.
Foreign operationsOperations located outside of the reporting entity's home country that generate either unaffiliated or intersegment revenues.
General corporate expensesExpenses incurred for the benefit of the corporation as a whole, which cannot be reasonably allocated to any segment.
Geographic areaAn individual country (domestic or foreign).
Intersegment salesTransfers of products or services, similar to those sold to unaffili‐ated customers, ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required