Short-term Convergence – Segment Reporting

Date recorded:

The Board considered whether to add guidance similar to that in EIC-115 Segment Disclosures-Application of the Aggregation Criteria in CICA 1701 issued by the Canadian Emerging Issues Committee. This EIC provides guidance on applying the criteria in CICA 1701 (equivalent to FAS 131) when determining whether two segments have 'similar economic characteristics.' The Canadian guidance was prepared at the request of securities regulators.

After discussion, it was agreed not to add similar guidance to the IASB's forthcoming exposure draft. Some Board Members expressed concerns about the approach to measurement in FAS 131 [internal reporting measures], preferring the approach in IAS 14 [IFRS measurement]. There was no conclusion on this point and it may come back to a subsequent meeting.

The Board also decided to ask a question about a potential loss of information between that provided in IAS 14 and FAS 131 in the Invitation to Comment.

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