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1、UnderstandingofIFRS8---OperatingSegments1.Introduction1.1ThepurposeofthereportThisreportaimstogiveanoverviewofIFRS8anditsinfluencetothecompanyinordertoprovideabetterunderstandingofthisaccountingstandard.1.2ThestructureofthereportThisreportisdividedintot
2、hreemainareas.Firstly,itwilloutlinethenatureandthepurposeoftheIFRS8.Thenitwilldistinguishthedifferencesbetweenthreesegments,anddiscussthecriteriatodecidewhichsegmentalbasisshouldbechosen.Finally,itwillevaluatethecontroversialpartandtheusefulnessofIFRS8.
3、2.TheNatureandPurposeofIFRS8FRS8resultsfromtheIASB’scomparisonofIAS14SegmentReporting.UndertheIFRS8,anentityshouldadoptthe‘managementapproach’toreportingtheinformationonfinancialperformanceofitsoperatingsegmentswhichentitiescansavetimeandmoneyforthesegm
4、entinformationwhichisrequiredtobedisclosedreadilybythechairmanoftheIASBDavidTweedien(furtherdiscussionseepart4).Basically,incontrasttoIAS14,IFRS8doesn’tdefinesegmentrevenue,segmentexpense,segmentresult,segmentassetsorsegmentliabilities,thus,ithasnoimpac
5、tontheirrecognition.Thisisalsoanimportantaspectthatsome,includingErnst&Young,arguedthatitisinferiortoIAS14(www.ey.com).WeshouldnoticethatthelistedcompaniesinEuropearerequiredtoadopttheinternationalstandards;thismakesnoexceptionsforIFRS8justlikeotherstan
6、dards.AchievingconvergenceofaccountingstandardsinworldwideisonecharacteristicforInternationalAccountingStandardsBoard.AsthedifferencesbetweenIAS14andtheUSGAAPthatdiscouragetheinternationalharmonisation.UndertheUSGAAP,itrequiresthatthesegmentreportingtob
7、einconsistentwithorganisation’sinternalcontrolsystem(Alexander,Britton,andJorissen,2007,p.580).TheIAS14ispreparedthesegmentonthebasisofexternalpurpose.Thedifferencecanleadto11misunderstanding,inconvenienceandconflictforuserstomakedecisionwhentheycompare
8、thesegmentsreportfromdifferentstandardsystems.WhenthelistedcompaniesinEuropeandUSApreparetheirsegmentreportaccordingtheirownstandards,itwilltakeextratimeandcosttoprepareanotherreporttoenteranotherparty’smarket.Thisproblemwillnotb
