This document is a practical guide that sets out the key features of NZ IFRS 8 Operating Segments, including guidance on identifying operating segments, aggregating and reporting segments, segment disclosure and other matters for consideration.
NZ IFRS 8 replaces NZ IAS 14 Segment Reporting and applies to annual periods beginning on or after 1 January 2009. Early application is permitted.
NZ IFRS 8 has a broader scope than its predecessor standard NZ IAS 14. It applies to all profit oriented entities, other than entities that qualify for differential reporting concessions in accordance with the Framework for Differential Reporting. It introduces a ‘management approach’ to identifying and measuring the financial performance of an entity’s operating segments for financial reporting purposes.
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