- Global site
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- Middle East
Our ‘Insights into MFRS 8’ series is designed to illustrate how MFRS 8 should be applied and it provides guidance and insight in some problematic areas. We also include several examples illustrating the Standard’s disclosure requirements.
MFRS 8’s ‘management approach’ has the effect that reportable segments and segment information will vary according to the information used by the CODM. As a result, disclosures will not be consistent between entities, even those operating in similar industries. It is therefore important users are provided with an explanation of how management have identified both the entity’s CODM and its operating segments and how the information reported to the CODM reconciles to the primary financial statements.
This article sets out the segment information that needs to be disclosed in the consolidated financial statements of the reporting entity.
How we can help
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.
