IFRS 8: Operating segments

IFRS Guide > IFRS 8

The International Accounting Standards Board (IASB) released International Financial Reporting Standard 8 (IFRS 8) to address the topic of operating segments. As many large conglomerates are involved in several lines of business, the investor demands information available to them so that they can see how each of these segments is performing. This IFRS standard is in place to document how these operating segments should be disclosed in the financial statements.

IFRS are principles based standards, rather than strict rules based standards that govern international accounting. IFRS standards differ from IAS standards in that they began being introduced in 2001, whereas IAS were produced prior to this date by the IASC, or the International Accounting Standards Committee. Therefore when an IFRS standard and an IAS standard conflict, the IFRS is generally more authoritative due to being more recent.

Check out more high level explanations of the IASB IFRS in our Guide to IFRS International Financial Reporting Standards!

VN:F [1.9.22_1171]
Rating: 0.0/10 (0 votes cast)

Enter you Email and Win!

Sign up for our drawing for an Apple IPhone to help you organize your business contacts, calendar events, and more, by subscribing to our periodic newsletter. Simply add your email below and you will be enrolled. We will never, ever sell or spam your email, and you can cancel at any time!

Cite this page:

Contribute meaningful comments to the Accounting community...