Give 2 Components of an entity to be classified as discontinued operation: Give the three Quantitative thresholds for reportable operating segments
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Give 2 Components of an entity to be classified as discontinued operation:
Give the three Quantitative thresholds for reportable operating segments
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- How many reportable segments does the entity have under IFRS 8, Operating Segments?Topic: Operating Segments Requirements: (Show Solutions) a. Identify the reportable segments under the quantitative thresholds of PFRS 8. b. Determine whether the reportable segments meet the limit on external revenues under PFRS 8. c. Determine the minimum amount of revenue that warrants disclosure of a major customer.Define the term Discontinued operations.
- Which of the following is not considered when determining whether an operating segment qualifies as a reportable segment? a.the assets of the segment b.the shareholders’ equity of the segment c.the absolute amount of its profit or loss d.revenue of the segmentWhich of the following items is not required to be reported in interim financial statements for each material operating segment?a. Revenues from external customers.b. Intersegment revenues.c. Segment assets.d. Segment profit or loss.Define Discontinued operations.
- Choose the correct.Which of the following items is not required to be reported in interim financial statements for each material operating segment?a. Revenues from external customers.b. Intersegment revenues.c. Segment assets.d. Segment profit or loss.Define each of the following terms:c. Permanent operating current assets; temporary operating current assets-------------as defined by the GASB is based on the fiscal period that benefits from a particular expenditure. Select one:a. Classification by object b. Classification by activityc. Classification by characterd. Classification by function
- Apply the three tests that are used to determine which operating segments are of significant size to warrant separate disclosure.What is a reportable segment in accordance with IFRS 8? What criteria are used in determining what operating segment is reportable? How are the segments that are not reportable segments handled in the required disclosure?Under IFRS 8, which of the following is not a criterion used to determine reportable segments? a. Segment assets b. Segment liabilities c. Segment Sales d. Operating profit or loss