Segmental information is one of the ways to increase transparency in financial statements prepared for investors and shareholders, especially for business areas that are significant and drive the entity's overall business strategy. IFRS 8 (International Financial Reporting Standards) requires that information provided to management be published in annual financial statements, so that investors and other users of the entity's financial statements have access to all information.

Our booklet "Insights into IFRS 8" is designed as an example of how IFRS 8 should be applied. It provides guidance and insight in some of the problematic areas. The brochure also includes several examples that illustrate the requirements of the Standard as well as illustrative disclosures under IFRS 8 for a fictitious entity - Illustrative Corporation Ltd and its subsidiaries, a fictitious consulting, services and retail entity that has prepared IFRS consolidated financial statements for several years.

IFRS 8 requires each business segment item to be disclosed using the same measures that are reported to the chief business decision maker (i.e. based on internal management information). We hope the information in this brochure gives you some insight into IFRS 8. If you would like advice on any of the points highlighted, please contact your local Grant Thornton firm. You can download the brochure below.

Dana source: Grant Thornton International Ltd.