Compared to IAS 14 Segment Reporting, IFRS 8 Operating Segments can be described as being:
A) more closely aligned to other accounting standards;
B) preferred in the European Union to its predecessor;
C) less prescriptive;
D) less onerous in terms of disclosure.

Question

Quizplus · Accepted Answer

IFRS 8 Operating Segments is less prescriptive than its predecessor IAS 14 Segment Reporting. It allows for greater flexibility in identifying and reporting operating segments, as well as in determining the basis of segment reporting.