IASC recommends revision of segment reporting standard.

Management Accounting (UK), November, 1994

An IASC Steering Committee has recommended changes to International Accounting Standard IAS14, 'Reporting Financial Information by Segment.' It suggests a new standard which will give clearer and more effective guidelines on defining industry and geographical segments and for determining and assessing items such as segment expenses, segment revenue and segment result. A Draft Statement of Principles on Reporting Financial Information by Segment has now been issued.

Reporting financial information for segments of a diversified or multinational enterprise is widely accepted as providing data that improves the ability of users of financial statements to assess the past performance and future prospects of the enterprise.

Since International Accounting Standard...

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