AASB 8 requires:
A) the segments to be identified as business segments or geographical segments.
B) the amount reported for each operating segment item to be the measure reported to the chief operating decision maker.
C) the reporting entity to determine its primary reporting format.
D) the segments to be based on the location of assets or location of customers.

Question

Quizplus · Accepted Answer

AASB 8 mandates that the amount reported for each operating segment must be the measure reported to the chief operating decision maker for the purposes of making decisions about allocating resources to the segment and assessing its performance. This ensures consistency in the information being reviewed by the decision makers and what is disclosed in the financial statements.

AASB 8 Requires