Segment Reporting

Question 1

Disclosures for All Public Enterprises

Answer 1

Operating segments ( annual and interim )
Products and services
geographic items
major customers

Question 2

How are Intercompany Transactions eliminated in reporting

Answer 2

Intercompany transactions are not eliminated for reporting

Question 3

Unaffiliated customers sales and intracompany sales must be

Answer 3

disclosed separately

Question 4

In order to conform to GAAP, financial statements for public business enterprises must report segment information about a company’s major customers

Answer 4

provides 10% or more of the combined revenue, internal and external, of all operating segments.

Question 5

For each reportable segment of an enterprise how are Profit / Loss and Total Assets reported ?

Answer 5

both profit or loss and total assets should be disclosed under U.S. GAAP. In disclosure questions, if you are not sure, disclose the most rather than the least.

Question 6

Types of entities are required to report on business segments

Answer 6

publicly-traded enterprises

Question 7

quantitative threshold for reportable segments

Answer 7

10% Revenue Test

Question 8

75% test

Answer 8

total external revenue reported by operating units

Question 9

What is allowed under IFRS segment reporting ?

Answer 9

Segment profit or loss
Segment assets
Segment liabilities