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A business house may have more than one business.Separate reports are required for eachments to monitor activity and profitability
Segment reporting is the reporting of the operating segments of a company in the disclosures accompanying its financial statements. Segment reporting is required for publicly-held entities, and is not required for privately held ones.
Segment reporting is the reporting of the operating segments of a company in the disclosures accompanying its financial statements. Segment reporting is required for publicly-held entities, and is not required for privately held ones. Segment reporting is intended to give information to investors and creditors regarding the financial results and position of the most important operating units of a company, which they can use as the basis for decisions related to the company.
Under Generally Accepted Accounting Principles (GAAP), an operating segment engages in business activities from which it may earn revenue and incur expenses, has discrete financial information available, and whose results are regularly reviewed by the entity's chief operating decision maker for performance assessment and resource allocation decisions. Follow these rules to determine which segments need to be reported:
The information you should include in segment reporting includes:
The segment reporting requirements under International Financial Reporting Standards are essentially identical to the requirements just noted under GAAP.
Agreed with colleagues answers
Segment reporting by
1. Business area
2. Geographical area
AGREE WITH Mr. Ayoub ANSWER