Wiley IFRS 2017

28Operating Segments

1. Introduction
2. Scope
3. Definitions of Terms
4. Identification
5. Concepts and Requirements Under 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 Disclosures Under IFRS
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As of January 1, 2009, IAS 14 was superseded by IFRS 8, which substantially changes the requirements for segment determinations and converges with US GAAP.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. As part of its 2012 Improvements, the IASB made minor changes with regards to the judgements made by management in applying the aggregation criteria, as well as those to certain reconciliations.

Segment information provides the users of the financial statements with insight as to how management uses financial information and allows users to understand the entity's main activities, where those activities are located and how well those activities are performing.

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 ...