IASB publishes convergence proposals on segment reporting

18 January 2006

The International Accounting Standards Board (IASB) published its proposals to improve segment reporting aimed to eliminate major differences between IFRSs and US GAAP and to improve financial reporting. The proposals are set out in an Exposure Draft of an International Financial Reporting Standard (IFRS) ED 8 “Operating Segments”. ED 8 would require an entity to adopt the ‘management approach’ to reporting on the financial performance of its operating segments. The proposals would therefore require explanations of the basis on which the segment information is prepared and reconciliations to the amounts recognised in the income statement and balance sheet.

The IASB invites comments on the Exposure Draft by 19 May 2006.

Press release
Operating Segments - Standard
Operating Segments - Basis for Conclusions
Operating Segments - Implementation Guidance
Operating Segments - zip file

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