MFRS 8 - Principles in brief

For entities that operate in a variety of classes of business, geographical locations, regulatory or economic environments or markets, high quality management accounts are essential. They enable management to monitor performance, allocate resources and devise business and market strategies. MFRS 8 ‘Operating Segments’ requires much of this management information for public listed entities to be published externally so that investors, analysts and other users of entities’ financial statements can review an entity’s operations from the same perspective as management.

This introductory article summarises the requirements and scope of MFRS 8 and explains the key steps in determining reportable segments.

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Introducing MFRS 8, key implementation issues and interpretational guidance in certain problematic areas.

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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.