What is a reportable operating segment?

Q: Which of the following is the impact of agency cost?

A: Agency costs are internal costs incurred due to the competing interests of Shareholder i.e the…

Q: Define Prior service cost.

A:

Q: What

A: Introduction:- The following one of the conditions is required to satisfied for segment reporting as…

Q: What constitutes a dicontinued operations.?

A: Definition:   Income statement: The financial statement which reports revenues and expenses from…

Q: What is an operating segment?

A: Operating segment: It is defined as providing information about the business actives with an…

Q: Define Service period

A: Introduction: Usually, service is nothing but something that is supposed to support other who offer…

Q: dvance and crec

A: As per standard accounting procedures revenue is to be recognized when it is earned and not when it…

Q: Define suppliers.

A: Merchandising businesses: Merchandising companies which buy goods from suppliers, or manufacturers,…

Q: nat is the Production EC Company?

A: The cost of production for any company’s product must be determined in order to control cost and…

Q: Describe direct and indirect mehods of reporting.

A: Statement of cash flows: Statement of cash flow is a financial statement that shows the cash and…

Q: What are the primary reasons for separating operational tasks?

A: Operational Tasks: Operational tasks refer to those tasks that are performed on a regular basis in…

Q: What is a reportable segment in accordance with IFRS 8? What criteria are used in determining what…

A: The question is related to IFRS 8 Operating Segement.

Q: Define the term performance obligations.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Briefly differentiate between activity-based and time-based allocation methods.

A: Allocation method:The allocation method is referred to as the method in which the allocation base is…

Q: What is operating company?

A: The operating company  is the actual manufacturer of a product or service. The operating company is…

Q: What amounts are reported by an operating segment?

A: Segment reporting: Segment reporting aims at classifying the risks encountered by the companies in…

Q: What are operational assets? Give example?

A: Operational assets: Operational assets are those assets acquired for use in the day to day…

Q: What are roll-forward procedures? Provide some examples

A: Roll-Forward Procedure: Auditors perform procedure to draw out the conclusion from an interim date…

Q: According to the FASB, what is the major objective of segment reporting?

A: Financial accounting standards board (FASB): This is the organization which creates, develops, and…

Q: Why is the reporting of segment information required? Justify your response. Why is the reporting of…

A: Segment reporting deals with in-detail segment-wise financial reporting in the financial statements…

Q: What disclosures are required For areas determined to be reportable operating segments?

A: Definition: Operating segment: Operating segments are different business verticals of a company that…

Q: Define the term external users.

A: An external user is a person outside of an organization who does not directly run its operations and…

Q: what is Reference control ?

A: I assumed as a question, as what is meant by the reference  to cost control?

Q: Which method(s) are required for external reporting? For internal reporting?

A:

Q: What role does the general ledger department play in the conversion cycle?

A: Conversion Cycle: A set of all processes that are used to collect inputs and convert them into final…

Q: What are the operating activities? Give some examples?

A: The statement of cash flows is the statement which shows the change in the cash and cash equivalents…

Q: Define the term Force account?

A: Financial Accounting:   It refers to the process of recording the financial transactions of the…

Q: Define the term appraisal costs.

A:

Q: Which of the following elements of fi nancial statements is most closely related to measurement of…

A: Financial statements are statements which provides the information about the financial position of…

Q: What does operating activities includes?

A: Statement of cash flows: This statement reports all the cash transactions which are responsible for…

Q: If operating segments are based on geography rather than products or services, can they still be…

A: Operating Segment:   An operating segment of an organization is a component that is a profit centre…

Q: Define revenues

A:

Q: Define inventoriable costs.

A: Inventoriable Costs are also known as Product Costs. Inventoriable cost is the cost of manufacture…

Q: Define Transaction exposure

A: Transaction exposure is the sensitivity of realized domestic currency values of the firm's…

Q: Explain the measurement attributes employed in GAAP.

A: The measurement attributes employed in GAAP are as follows: Historical Cost Net Realisable Value…

Q: Define the term attest function.

A: