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Presentation of published financial statements

4 important questions on Presentation of published financial statements

Explain how segments can be aggregated

Two or more segments below the thresholds can be aggregated based on having similar economic characteristics and similarity in each of the following respects:

nature of the products or services
nature of the production process
type or class of customer for their products
methods used for distribution
nature of the regulatory environment

What disclosures are required under IFRS 8?

IFRS 8 requires disclosure of:

FACTORS used to identify the entity's reportable segments
TYPES of products and services from which each reportable segment devices its revenues
Reportable segment REVENUES, PROFIT, LOSS, TOTAL ASSETS TOTAL LIABILITIES and other MATERIAL ITEMS

To which companies does IAS34 apply? And what does it recommend

Publicly traded companies.

It recommends to produce interim financial reports.

Describe interim periods and interim financial reports

An INTERIM PERIOD is a financial reporting period shorter than a full financial year

and INTERIM FINANCIAL REPORT means a financial report containing either a complete set of financial statements (as descry. IAS1) or a set of condensed financial statements for an interim period.

The question on the page originate from the summary of the following study material:

CIMA F1 Financial Reporting and Taxation | 9781472734129 | BPP Learning

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