Asked Oct 13, 2019

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

Why is the reporting of estimates and assumptions required? Justify your response.



Expert Answer

Step 1

Segment reporting deals with in-detail segment-wise financial reporting in the financial statements of the company.

Segment information is required in the financial statements

(a)    As it helps investors to distinguish between operating and non-operating segments.

(b)    It provides infor...

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