Wiley IFRS 2014: Interpretation and Application of International Financial Reporting Standards

Chapter 28OPERATING SEGMENTS

1. INTRODUCTION
2. SCOPE
3. DEFINITIONS OF TERMS
4. IDENTIFICATION
5. CONCEPTS AND REQUIREMENTS UNDER IFRS 8
   1. 1. Key principles of IFRS 8
   1. Operating Segments and Reportable Segments
      1. Operating segments
      2. Reportable segments
6. DISCLOSURE REQUIREMENTS
   1. Entity-wide disclosure requirements
7. EXAMPLE OF FINANCIAL STATEMENT DISCLOSURESUNDER IFRS 8
8. NEW DEVELOPMENTS
9. US GAAP COMPARISON

INTRODUCTION

As of January 1, 2009, IAS 14 was superseded by IFRS 8, which substantially changes the requirements for segment determinations and converges with US GAAP. As part of its 2009 Improvements, IASB made a minor change to the segment assets disclosure requirement under IFRS 8, in order to eliminate an unintended divergence from the corresponding mandate under the US GAAP standard, FAS 131.

Sources of IFRS
IFRS 8

SCOPE

IFRS 8 applies to:

1. The separate or individual financial statements of an entity:
   1. Whose debt or equity instruments are traded in a public market (a domestic or foreign stock exchange or an over-the-counter market, including local and regional markets); or
   2. That files, or is in the process of filing, its financial statements with a securities commission or other regulatory organization for the purpose of issuing any class of instruments in a public market; and
2. The consolidated financial statements of a group with a parent:
   1. Whose debt or equity instruments are traded in a public market (a domestic or foreign stock exchange or an over-the-counter market, including ...