Quiz 8: Segment and Interim Reporting

Business

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Search the U.S. Authoritative accounting literature to determine whether an equity method investment can be treated as an operating segment for financial reporting purposes as below: Source of guidance: FASB Accounting Standards Codification (paragraph 280-10-55-2): Segment Reporting; Overall Implementation Guidance and Illustrations; Operating Segments - Equity Method Investees. The original source is given as below: As per the FASB Staff Implementation Guide "An equity method investee could be considered an operating segment, if the investee meets the characteristics of an operating segment. The control over the performance of the investee is not a deciding factor in this consideration. However, it should be noted that the specific facts and circumstances should be considered"

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