For public-listed 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 assess financial performance, the allocation of resources and to devise or revise any business and market strategies they might have.
IFRS 8 ‘Operating Segments’ requires public listed entities to publish a lot of management information so that investors, analysts and other users of entities’ financial statements can review an entity’s operations from the same perspective as management.
Our ‘Insights into IFRS 8’ series considers key implementation issues and provides interpretational guidance in certain problematic areas. We also include several examples illustrating the Standard’s requirements.