IFRS 8 Operating Segments sets out requirements for disclosure of information about an entity’s operating segments and also about an entity’s products and services, the geographical areas in which it operates, and its major customers.
Published November 2006. Effective 1 January 2009.
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IFRS 8 requires operating segments to be identified on the basis of internal reports about components of an entity that are regularly reviewed by the chief operating decision maker in order to allocate resources and assess performance. Where operating segments meet quantitative thresholds, segment information is required to be disclosed. General information about how the entity identified its operating segments and information about products and services is also required.
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(a) Provide further clarification on the position of chief operating decision maker and require disclosure of the individual or group that is chief operating decision maker;
(b) Add examples of similar economic characteristics to the aggregation criteria;
(c) Require that an explanation is provided in the notes when segments identified by an entity differ between the financial statements and other parts of the annual report such as management commentary;
(d) Clarify that extra information may be disclosed in addition to that provided to the chief operating decision maker if it helps to met the core principle of the standard; and
(e) Clarify that explanations of reconciling items should be given with sufficient information to allow users to understand their nature.
This page was last updated 18 December 2017