This introductory article summarises the requirements and scope of MFRS 8 and explains the key steps in determining reportable segments.
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The balance between presenting enough information to users of the financial statements and presenting too much information so that the overall picture and usefulness of what is being disclosed is not masked by detail is a fine one. For some large or complex entities, the number of operating segments identified when applying MFRS 8 ‘Operating Segments’ may be excessive and the benefit of disclosing segmental information for each separate segment may be insufficient to justify the cost.
Our ‘Insights into MFRS 8’ series considers some key implementation issues and includes interpretational guidance in certain problematic areas. We also include several examples illustrating the Standard’s requirements.
MFRS 8 - Reportable Segments
This article sets out the requirements of identifying reportable segments, which is closely linked to aggregating operating segments.
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We hope you find the information in this article helpful in giving you some insight into MFRS 8. If you would like to discuss any of the points raised, please do not hesitate to contact us.
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