An enterprise determines that it must report segment data in annual reports for the year ended December 31, 2014.Which of the following would not be an acceptable way of reporting segment information?
A)Within the body of the financial statements, with appropriate explanatory disclosures in the footnotes
B)Entirely in the footnotes to the financial statements.
C)As a special report issued separately from the financial statements.
D)In a separate schedule that is included as an integral part of the financial statements.

Question

Quizplus · Accepted Answer

Reporting segment information as a special report issued separately from the financial statements would not be an acceptable way of reporting segment data. Segment data must be included in the financial statements, either within the body of the statements or as an integral part of the financial statements in a separate schedule, along with appropriate explanatory disclosures in the footnotes. Reporting segment data entirely in the footnotes to the financial statements is also an acceptable way of reporting segment information.

An Enterprise Determines That It Must Report Segment Data in Annual