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Implementation of a 'management approach' to segment definition

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04 Oct 2001

Both IAS 14 and FASB 131 take a 'management approach' to defining business and geographical segments, and the segment definitions in both standards are quite similar.

For that reason, the following comments in a recent speech by Robert Bayless, Chief Accountant of the US SEC Division of Corporation Finance, are of interest:

The staff also has focused on the Statement 131 disclosures because, frankly, we are concerned that too many companies have not responded adequately to Statement 131's mandate to present separately financial information for those business components that are regularly reviewed by the chief operating decision maker. It's difficult to believe that chief operating decision makers review as little disaggregated information as some companies' segment disclosure would have us believe.

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