Our ‘Insights into IFRS 8’ series is designed to illustrate how IFRS 8 should be applied and it provides guidance and insight in some problematic areas. We also include several examples illustrating the Standard’s requirements. This article sets out example disclosures of segment information.
Included in this article are illustrative disclosures under IFRS 8 for a fictional entity Illustrative Corporation Ltd and its subsidiaries (the Group) – a fictional consulting, service and retail entity that has been preparing IFRS consolidated financial statements for several years.
IFRS 8 requires each operating segment item to be disclosed using the same measures reported to the chief operating decision maker (ie based on internal management information).
The illustrative disclosures in this article are based on a fictitious entity, and so cannot be viewed as the only acceptable way of providing segment disclosures.
We hope you find the information in this article helpful in giving you some insight into IFRS 8. If you would like to discuss any of the points raised, please speak to your usual Grant Thornton contact or your local member firm.
