Operating Segments

In April 2001 the International Accounting Standards Board (Board) adopted IAS 14 Segment Reporting, which had originally been issued by the International Accounting Standards Committee in August 1997. IAS 14 Segment Reporting replaced IAS 14 Reporting Financial Information by Segment, issued in August 1981.

In November 2006 the Board issued IFRS 8 Operating Segments to replace IAS 14. IAS 1 Presentation of Financial Statements (as revised in 2007) amended the terminology used throughout the Standards, including IFRS 8.

Other Standards have made minor consequential amendments to IFRS 8. They include IAS 19 Employee Benefits (issued June 2011), Annual Improvements to IFRSs 2010–2012 Cycle (issued December 2013), Amendments to References to the Conceptual Framework in IFRS Standards (issued March 2018) and Disclosure of Accounting Policies (issued February 2021).

CONTENTS

from paragraph

INTERNATIONAL FINANCIAL REPORTING STANDARD 8

OPERATING SEGMENTS

CORE PRINCIPLE 1

SCOPE 2

OPERATING SEGMENTS 5

REPORTABLE SEGMENTS 11

Aggregation criteria 12

Quantitative thresholds 13

DISCLOSURE 20

General information 22

Information about profit or loss, assets and liabilities 23

MEASUREMENT 25

Reconciliations 28

Restatement of previously reported information 29

ENTITY-WIDE DISCLOSURES 31

Information about products and services 32

Information about geographical areas 33

Information about major customers 34

TRANSITION AND EFFECTIVE DATE 35

WITHDRAWAL OF IAS 14 37

APPENDICES

A Defined term

B Amendments to other IFRSs

APPROVAL BY THE BOARD OF IFRS 8 ISSUED IN NOVEMBER 2006

FOR THE ACCOMPANYING GUIDANCE LISTED BELOW, SEE PART B OF THIS EDITION

• IMPLEMENTATION GUIDANCE
• APPENDIX
• Amendments to other Implementation Guidance

FOR THE BASIS FOR CONCLUSIONS, SEE PART C OF THIS EDITION

• BASIS FOR CONCLUSIONS
• APPENDICES TO THE BASIS FOR CONCLUSIONS
• A Background information and basis for conclusions of the US Financial Accounting Standards Board on SFAS 131
• B Amendments to the Basis for Conclusions on other IFRSs
• DISSENTING OPINIONS

International Financial Reporting Standard 8 Operating Segments (IFRS 8) is set out in paragraphs 1–37 and Appendices A and B. All the paragraphs have equal authority. Paragraphs in bold type state the main principles. Definitions of terms are given in the Glossary for International Financial Reporting Standards. IFRS 8 should be read in the context of its core principle and the Basis for Conclusions, the Preface to IFRS Standards and the Conceptual Framework for Financial Reporting. IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies in the absence of explicit guidance.