Wiley GAAP 2021, 2nd Edition

15ASC 280 SEGMENT REPORTING

1. Perspective and Issues
   1. Subtopic
   2. Scope and Scope Exceptions
   3. Overview
      1. Objective
      2. Management Approach
2. Definitions of Terms
3. Concepts, Rules, and Examples
   1. Operating Segments
   2. Reportable Segments
      1. Revenue Test
      2. Profit and Loss Test
      3. Assets Test
      4. Comparability
      5. 75% Test
      6. Example of Segment Testing
      7. Aggregating Segments
   3. Reassessment of Segments
   4. Measurement Issues
      1. Transfer Pricing
      2. Common Costs
      3. General Corporate Expense
      4. Corporate Assets
   5. Segment and Entity-Wide Disclosures
   6. Restatement of Previously Reported Segment Information
      1. Example—Comprehensive Illustration of the Application of Segment Reporting
      2. Description of the Types of Products and Services from Which Each Reportable Segment Derives Its Revenues
      3. Measurement of Segment Profit or Loss and Segment Assets
      4. Factors Management Used to Identify Reportable Segments
      5. Information About Profit and Loss and Assets
      6. Reconciliations
      7. Major Customers
   7. Other Sources

PERSPECTIVE AND ISSUES

Subtopic

ASC 280, Segment Reporting, has one subtopic:

• ASC 280‐10, Overall, that provides guidance to public business entities on how to report certain information about:
  • Operating segments in complete sets of financial statements, and in
  • Condensed financial statements of interim periods issued to shareholders.

ASC 280 also requires public entities to disclose certain information about:

• Their products and services,
• The geographic areas in which they operate, and
• Their major customers.

Scope and Scope Exceptions

ASC 280 ...