A practical guide to segment reporting September 2008 PricewaterhouseCoopers’ IFRS and corporate governance publications and tools 2008 IFRS technical publications IFRS Manual of Accounting 2008 Provides expert practical guidance on how groups should prepare their consolidated financial statements in accordance with IFRS. Comprehensive publication including hundreds of worked examples‚ extracts from company reports and model financial statements. IFRS Pocket Guide 2008 Provides a summary
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CONTRIBUTE TO SEGMENT REPORTING TRANSPARENCY? Advanced Accounting ACC 610 January 4TH‚ 2010 1. INTRODUCTION: An operating Segment is a component of an entity that may earn revenues or incur expenses‚ whose operating results are regularly reviewed by the chief operating decision maker (COMD) and for which discrete financial information is available. Generally‚ financial information is required to be reported on the basis that it is used internally for evaluating segment performance and
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to establish principles for reporting financial information by segments. The disclosure of this information will: (a) help users of the financial statements to better understand the entity’s past performance and to identify the resources allocated to support the major activities of the entity; and (b) enhance the transparency of financial reporting and enable the entity to better discharge its accountability obligations. Definition of a Segment A segment is a distinguishable activity
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SEGMENT REPORTING Many U.S. companies operate in several different industries or in different geographic area. When this occurs‚ the difficulties related to financial statement analysis are compounded. Investors who must evaluate the relative strengths and weaknesses of stock of a diversified company have a difficult task when analyzing such companies which report only the aggregate of their operations. Industry segments and geographic areas of operations can have different levels of
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and pressures. This pattern certainly holds true in regards to financial reporting. The first financial reporting regulations were set in place during the Great Depression in reaction to the stock market collapse of 1929. These regulations were The Securities Act of 1933 and The Securities Exchange Act of 1934‚ which established the Securities and Exchange Commission (SEC) and became the foundation for future financial reporting regulations. While addressing Congress‚ President Roosevelt said that the
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19 CONTENTS OBJECTIVES 16:49 Page 427 Segment reporting Clare B. Roberts1 19.1 What is segment reporting? 19.2 The need for segment information 19.3 Disclosure regulations 19.3.1 Introduction 19.3.2 Requirements in the United States 19.3.3 IAS 14 19.3.4 IFRS 8 19.4 Evidence on the benefits of segment reporting 19.4.1 Introduction 19.4.2 Studies of user decision making 19.4.3 Studies using researchers’ forecasts 19.4.4 Stock market reactions to segment disclosures Summary References Questions
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Chapter 13 Segment and Interim Reporting Multiple Choice Questions Wakefield Company uses a perpetual inventory system. In August‚ it sold 2‚000 units from its LIFO-base inventory‚ which had originally cost $35 per unit. The replacement cost is expected to be $45 per unit. The company is planning to reduce its inventory and expects to replace only 1‚500 of these units by December 31‚ the end of its fiscal year. The company replaced 1‚500 units in November at an actual cost of $50 per unit
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Factors For and Against Marijuana should be legalized in the United States. Reasons for legalization (ranked from strongest to weakest) 1. Medical benefits for terminal illnesses such as cancer. 2. Police and court resources would be freed to pursue more serious crimes. 3. The FDA could regulate the quality and safety of the drug. 4. This drug has fewer side effects that most currently legal narcotics. 5. Legalization would lower prices‚ thereby reducing crimes such as theft. 6
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The cosmological arguments are inductive arguments based on an ‘a posteriori’ premise‚ which‚ despite having been introduced many years ago‚ continue to be prevalent today. An early example of the argument is within ‘Timaeus’‚ in which Plato proposed the idea that anything that has been created must be created by a cause. These arguments are intended to prove the existence of the God of Classical Theism by explaining that God must be the first cause of the universe; the being setting the world into
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unknowable or altogether false. If one chooses to ignore this obvious fact‚ there is little that can be done to argue‚ for argument assumes that rational thought processes are at work. As Hank Hanegraaff has said‚ "Even those who deny reality look both ways before they cross the street." One popular example skeptics use to disprove attainable knowledge is the Brain in the Vat argument. "The Brain in the Vat scenario is a thought experiment designed to show the plausibility of radical skepticism. If we
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