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The Professionals' Academy of Commerce: Financial Accounting & Reporting-II IFRS-8

The document contains two questions related to IFRS 8 Operating Segments. Question 1 requires identifying which of the five operating segments presented for a manufacturing company are reportable based on the financial information provided. Question 2 has two multiple choice sub-questions related to the objectives of operating segment disclosure and the scope of entities that IFRS 8 applies to.

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Waseim khan Barik zai
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112 views

The Professionals' Academy of Commerce: Financial Accounting & Reporting-II IFRS-8

The document contains two questions related to IFRS 8 Operating Segments. Question 1 requires identifying which of the five operating segments presented for a manufacturing company are reportable based on the financial information provided. Question 2 has two multiple choice sub-questions related to the objectives of operating segment disclosure and the scope of entities that IFRS 8 applies to.

Uploaded by

Waseim khan Barik zai
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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THE PROFESSIONALS’ ACADEMY OF

COMMERCE

Total Marks: 12 Financial Accounting & Reporting-II Section: A

Time Allowed: 25 Minutes IFRS-8 SP- 2021

Question 1

Pasha & Company is a manufacturing company with the following operating segments:

Operating External Internal Net Profit/(loss) Liabilities


Segments Revenue Revenue Assets For the
year
--------------------------------Rs in million----------------------------
A 70 45 50 100 75
B 300 300 1000 3150 2000
C 453 12 900 2200 400
D 50 90 1700 1350 235
E 105 15 1000 700 1140

Required:

As per IFRS-8, identify and explain whether the above operating segments are reportable or
not? (10)
Question 2
1. Operating segment information should:
(i) increase the number of reported segments and provide more information
(ii) enable users to see an undertaking through the eyes of management
(iii) enable an undertaking to provide timely segment information for external interim reporting
with relatively low incremental cost
(iv) enhance consistency with the management discussion and analysis or other annual report
disclosures
(v) provide various measures of segment performance
(vi) provide information about reduced staff

(a) (i) to (iii) only


(b) (i) to (vi) all
(c) (i) to (iv) only
(d) (i) to (v) only (1)
2. IFRS 8 shall apply to:
i. Listed companies
ii. Any company reporting under IFRS that wishes to provide the information
iii. All other companies reporting under IFRS

(a) (i) to (ii) only


(b) (i) to (iii) all
(c) (i) only
(d) (ii) only (1)

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