Report – Reportable Segments
Solution
| Segment | Revenue | Operating profits (loss) | Segment Assets | Reportable | |
| A | $420.00 | $24,000.00 | $ 270.00 | $ 22,400.00 | $ 2,430.00 |
| B | $220.00 | $2,200.00 | $ (200.00) | $ 25,200.00 | $ (2,200.00) |
| C | $1,400.00 | $90,000.00 | $ 360.00 | $ 70,000.00 | $ 3,240.00 |
| D | $ – | $168,000.00 | $ 2,370.00 | $ 162,400.00 | $ 21,330.00 |
| $2,040.00 | $284,200.00 | $ 2,800.00 | $ 280,000.00 | $ 24,800.00 |
The segment reportable for any business depends on the structure and the method adopted by the business to report its business activities (Moldavan & Rucsandra, 2014). The segmental reporting presented above is standalone financial reporting on the financial information. Each segment displays its own reportable profits (K.C., et al., 2010). Do you need urgent assignment help ? Get in touch with us at eminencepapers.com.
On a consolidated basis. Segment reporting should apply only to consolidated financial statements. You do not consider the stand-alone in the determination of the reportable profit (Moldavan & Rucsandra, 2014). For the accounting principle, you have to report both geographical segments as well as the business segment. For the case above, the disclosure of the segment. The segment shall be divided into primary and secondary segments. This segment is a secondary disclosure since it has condensed disclosures (K.C, et al., 2010).
Therefore, the segments that will be reportable include segments with positive reportable profit. Segment B shall not be reported while other segments shall be reported (K.C, et al., 2010).
References
K.C, C., Guangzhang, L. & alaifan, W., 2010. Price Discovery for Segmented US-Listed Chinese Stocks: Location or Market Quality?. Journal of Business Finance & Accounting, 37(2), p. 28.
Moldavan & Rucsandra, 2014. Post-Implementation Reviews for IASB and FASB Standards: A Comparison of the Process and Findings for… Accounting in Europe, 11(1), p. 23.
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Question 
Report – Reportable Segments
Bass Industries operates in four different industries. Information concerning the operations of these industries for the year 2011 is as follows:
Revenue:
| Industry Segment | Total | Intersegment | Operating Profit (Loss) | Segment Assets |
| A | $24,000 | $4,200 | $2,700 | $22,400 |
| B | 18,000 | 2,200 | (2,000) | 25,200 |
| C | 90,000 | 14,000 | 3,600 | 70,000 |
| D | 168,000 | – 0 – | 23,700 | 162,400 |
| $300,000 | $28,000 | $280,000 |
Required:
Complete the following schedule to determine which of the above segments must be treated as reportable segments:
10% Test for
| Segment | Revenue | Operating Profit (Loss) | Segment Assets | Reportable? | |
| A | |||||
| B | |||||
| C | |||||
| D |