Get the free HKFRS 8 Operating Segments Application Issues

Financial Reporting Forum HK FRS 8 Operating Segments: Application Issues Date 30 October 2012 (Tuesday) Time 7:00 p.m. 8:30 p.m. Venue Hong Kong Institute of CPA's, 27/F., Wu Chung House, 213 Queens

How to fill out hkfrs 8 operating segments

How to fill out hkfrs 8 operating segments:

1. Identify the different components of your business that generate separate revenue streams. This could include different products or services, geographical locations, customer groups, or distribution channels.
2. Determine the criteria for aggregating these components into operating segments. This typically involves assessing the level of integration, similarities in economic characteristics, and the nature of products or services offered.
3. Gather relevant financial and non-financial information for each operating segment. This may include revenue, expenses, assets, liabilities, profitability ratios, market share, customer feedback, and other relevant data.
4. Prepare an operating segment report that complies with the disclosure requirements of hkfrs 8. This report should clearly present the information for each segment, including the segment's contribution to the overall financial performance of the entity.

Who needs hkfrs 8 operating segments:

1. Entities that are required to prepare consolidated financial statements in accordance with hkfrs.
2. Organizations operating in multiple segments or industries, where segment information is important for understanding the financial performance and risk profile of the entity.
3. Investors, shareholders, and other stakeholders who rely on accurate and comprehensive financial information to make informed decisions about the entity's performance and prospects.

For pdfFiller’s FAQs

What is hkfrs 8 operating segments?

hkfrs 8 operating segments refer to the financial reporting standard that requires an entity to disclose information about its operating segments.

Who is required to file hkfrs 8 operating segments?

Entities that prepare consolidated financial statements in accordance with Hong Kong Financial Reporting Standards are required to file hkfrs 8 operating segments.

How to fill out hkfrs 8 operating segments?

To fill out hkfrs 8 operating segments, an entity needs to identify its operating segments, measure and report information about each operating segment, and disclose related information in its financial statements.

What is the purpose of hkfrs 8 operating segments?

The purpose of hkfrs 8 operating segments is to provide users of financial statements with information about an entity's different lines of business and the economic environments in which it operates.

What information must be reported on hkfrs 8 operating segments?

An entity must report revenue, expenses, assets, liabilities, and other financial and descriptive information about each operating segment.

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