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InternAccting_Wk9Discussion - primary and the other to be...

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Week 09 Discussion - Required Segment Reporting As we have discussed previously, differences in accounting standards currently exist. One such example is with segment reporting. Conduct research to locate a reliable source that indicates whether segment reporting is required in the financial statements of the country that you chose for your final project. Summarize the findings and include the URL of the article. Why do you feel that there is so much disparity between everyone's findings? How does this affect the findings for your country? The country I have chosen for my final project is China. As far as segment reporting goes in china, they follow ASBE 35. ASBE 35 states that, “requires one basis of segmentation to be
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Unformatted text preview: primary and the other to be secondary, with considerably less information required to be disclosed for the secondary segment. Current PRC GAAP requires the same amount of information to be reported for both business segments and geographical segments” (Deloitte, 2006, pg 45). This is compared to the current PRC GAAP. With the comparison with IFRS, China’s segment reporting is that it requires information from an enterprise that has different operations or operates in different geographical areas. Deloitte. (2006, August). China’s New Accounting Standards A guide to IFRS 3 business combinations . Retrieved from http://www.deloitte.com/view/en_CN/cn/services/audit/ab75912aff1fb110VgnVCM1000 00ba42f00aRCRD.htm...
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