Compared to AASB 114 Segment Reporting, AASB 8/IFRS 8 Operating Segments can be described as:
A) less prescriptive.
B) less onerous in terms of disclosure.
C) more closely aligned to other accounting standards.
D) preferred in the European Union to its predecessor.

Question

Quizplus · Accepted Answer

AASB 8/IFRS 8 is less prescriptive because it allows companies more flexibility in determining their operating segments based on internal management reports, rather than adhering to strict guidelines.