Accounting. Aasa 8 Operating Segment

1141 Words Jul 29th, 2012 5 Pages
Slide 1

Welcome to the staff training of AASA 8 Operating Segment!
AASB 8 applies to annual reporting period beginning on/after 1 Jan 2009 and supersedes AASB 114 Segment Reporting when adopted.

Operating Segments specifies the use of a ‘through the eyes of the management’ approach to an entity’s reporting of information relating to its operating segments in annual financial reports, and also requires an entity to report financial and descriptive information about its reportable segments.

AASB 8 is applicable to for-profit entities whose debt or equity securities are traded in a public market and to entities in the process of filing financial statements for the purpose of issuing such instruments.

Slide 2

An entity may
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c. The following are required disclosures about each reportable segment if included in the profit or loss reviewed by the chief operating decision maker:
• revenues from external customers
• revenues from transactions with other operating segments of the same entity
• interest revenue and expense separately
• depreciation and amortization
• material items of income and expense disclosed in accordance with AASB 101 Presentation of Financial Statements
• entity’s interest in the profit or loss of associates and joint ventures accounted for by the equity method
• income tax expense or income
• other material non-cash items

Slide 9

The voestalpine Group operates in six reportable segments: Steel Division, Special Steel Division, Railway Systems Division, Profilform Division, Automotive Division, and Other. The reporting system, which is essentially based on the nature of the products provided, reflects the internal financial reporting, the management structure of the organization, and the predominant sources of risks and rewards of the Company.

Slide 10

Refer to appendix, the annual report of The voestalpine Group provides selected financial information subsumed into the major geographical areas. External revenue is allocated by geographical location of the customers’ companies. Non-current assets and investments are reported by geographical location of the companies.

Slide 11

Measurement principle - the amount of each segment
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