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Core principle. 1 An entity shall disclose information to enable users of its financial statements to evaluate the nature and financial effects of the business activities in which it engages and the economic environments in which it operates. Scope.
Core principle. 1 An entity shall disclose information to enable users of its financial statements to evaluate the nature and financial effects of the business activities in which it engages and the economic environments in which it operates. Scope.
Indian Accounting Standard (Ind AS) 108, Operating Segments, requires to follow the management approach to disclose information about operating segments.
Revised AS 108 has been formulated taking existing AS 17 as base since bringing MIS based Operating Segment approach under Ind AS 108 would be onerous to be applied by entities to whom Ind AS are not applied. Major differences between AS 108 and Ind AS 108, Operating Segments, are included in the Appendix 1 of the Standard.
Feb 6, 2019 · Ind AS 108: Operating Segments: 1: Two sets of segments: Business Segment and Geographical Segment. One set is regarded as Primary Segment and other as Secondary Segment. Ind AS 108 is based on management approach. Operating segments are identified based on reports reviewed by CODM.
• Ind AS 101 requires the entity to do the following in the opening Ind AS statement of financial position that it prepares as a starting point for its accounting under Ind AS: – Recognise all assets and liabilities whose recognition is required by Ind AS,
Ind AS provide extensive guidance and entail a significant change in the financial reporting framework applied by Indian companies to report their financial results.
A fresh look at Ind AS 108, ‘Operating segments’. At a glance. In this section, we explain the key requirements of Ind AS 108, ‘Operating segments’, and discuss certain practical issues that might arise during implementation.
Core Principle of Ind AS 108 (Para 1) An entity shall disclose information to enable users of its financial statements to evaluate the nature and financial effects of the business activities in which it engages and the economic environments in which it operates.
May 28, 2022 · The Indian Accounting Standards (Ind AS), as notified by the Ministry of Corporate Affairs in February 2015, and as amended from time to time are applicable to the specified class of companies as per Ind AS Roadmap.
