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IAS14_06 - IAS 14 International Accounting Standard 14...

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IAS 14 © IASCF 903 International Accounting Standard 14 Segment Reporting This version includes amendments resulting from new and amended IFRSs issued up to 31 December 2005.
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IAS 14 904 © IASCF C ONTENTS paragraphs INTRODUCTION IN1–IN14 INTERNATIONAL ACCOUNTING STANDARD 14 SEGMENT REPORTING OBJECTIVE SCOPE 1–7 DEFINITIONS 8–25 Definitions from other Standards 8 Definitions of business segment and geographical segment 9–15 Definitions of segment revenue, expense, result, assets, and liabilities 16–25 IDENTIFYING REPORTABLE SEGMENTS 26–43 Primary and secondary segment reporting formats 26–30 Business and geographical segments 31–33 Reportable segments 34–43 SEGMENT ACCOUNTING POLICIES 44–48 DISCLOSURE 49–83 Primary reporting format 50–67 Secondary segment information 68–72 Illustrative segment disclosures 73 Other disclosure matters 74–83 EFFECTIVE DATE 84 APPENDICES A Segment definition decision tree B Illustrative segment disclosures C Summary of required disclosure
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IAS 14 © IASCF 905 International Accounting Standard 14 Segment Reporting (IAS 14) is set out in paragraphs 1–84. All the paragraphs have equal authority but retain the IASC format of the Standard when it was adopted by the IASB. IAS 14 should be read in the context of its objective, the Preface to International Financial Reporting Standards and the Framework for the Preparation and Presentation of Financial Statements. IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies in the absence of explicit guidance.
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IAS 14 906 © IASCF Introduction IN1 This Standard (IAS 14 (revised)) replaces IAS 14 Reporting Financial Information by Segment (‘the original IAS 14’). IAS 14 (revised) is effective for accounting periods beginning on or after 1 July 1998. The major changes from the original IAS 14 are as follows. IN2 The original IAS 14 applied to entities whose securities are publicly traded and other economically significant entities. IAS 14 (revised) applies to entities whose equity or debt securities are publicly traded, including enterprises in the process of issuing equity or debt securities in a public securities market, but not to other economically significant entities. IN3 The original IAS 14 required that information be reported for industry segments and geographical segments. It provided only general guidance for identifying industry segments and geographical segments. It suggested that internal organisational groupings may provide a basis for determining reportable segments, or segment reporting may require reclassification of data. IAS 14 (revised) requires that information be reported for business segments and geographical segments. It provides more detailed guidance than the original IAS 14 for identifying business segments and geographical segments. It requires that an entity look to its internal organisational structure and internal reporting system for the purpose of identifying those segments. If internal segments are
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