Presentation required in the annual report when a reportable segment meets one or more of the following tests: (1) revenue is 10% or more of combined revenue; (2) operating profit is 10% or more of combined operating profit (operating profit excludes unallocable general corporate revenue and expenses, interest expense, and income taxes); or (3) identifiable assets are 10% or more of the combined identifiable assets; also called line of business reporting.
FASB Statement No. 14 requires that financial statements include information about operations in different industries, foreign operations, export sales, major customers, and government contracts.
Read more: http://www.answers.com
No comments:
Post a Comment
Thanks