SEGMENT ASSIGNMENT

SEGMENT ASSIGNMENT - Lee Hoeppner April 19, 2010 Accounting...

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Lee Hoeppner April 19, 2010 Accounting 440 SEGMENT ASSIGNMENT (SEARS ANNUAL REPORT AND SFAS 131) SFAS 131 creates standards for the way that public business enterprises report information about operating segments in annual financial statements and requires that those enterprises report selected information about operating segments in interim financial reports issued to shareholders. The segments which emerge from an analysis of how management organizes information for decision-making purposes are called operating segments. SAFS 131 requires that public business enterprises report financial and descriptive information regarding their reportable operating segments. The financial information necessitates that it is reported on the basis that it is used internally for assessing segment performance and choosing how to distribute resources to segments. In addition, SFAS 131 requires that a public business enterprise report a measure of segment profit or loss, has specific revenue and expense items, and segment assets. It also requires that there are reconciliations of the segment revenues, segment profit or losses, assets, and other amounts disclosed for the segments. Lastly, the standard requires that the company report descriptive information on how the operating segments were determined, the
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SEGMENT ASSIGNMENT - Lee Hoeppner April 19, 2010 Accounting...

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