Determine operating segments, Cost Accounting

Vincent Ltd operates solely in Western Australia and the chief operating decision maker has identified five operating segments: Mining, Insurance, Retailing, Manufacturing and Transport.  The following information is provided to you for the year ending 30 June 2012:

 

Segment

Revenue

($000)

Segment

Result

($000)

Segment

Assets

($000)

Mining

11 100

2 835

18 000

Insurance

4 950

-7 800

7 500

Retailing

2 100

750

3 000

Manufacturing

600

240

9 000

Transport

6 960

 3 525

7 500

Additional Information

Thirty per cent of the revenue earnt by the Transport segment was generated from intersegment sales from the Mining segment.

Required

Determine which of the five operating segments are reportable using the guidelines provided in the relevant accounting standard and offer any explanations as required.  Show all workings.

Posted Date: 3/30/2013 6:28:39 AM | Location : United States







Related Discussions:- Determine operating segments, Assignment Help, Ask Question on Determine operating segments, Get Answer, Expert's Help, Determine operating segments Discussions

Write discussion on Determine operating segments
Your posts are moderated
Related Questions
Introduction of Internal Rate of Return The traditional internal rate of return (IRR) method of project selection has been shown to be inferior to the NPV method due to vario

Valuation of Inventory or Closing and Issues Stocks Valuation of inventory aims on attaching a monetary value in the issued or stores for production. It is useful in producing

XYZ Pvt Ltd is a private company incorporated in Australia, and manufactures handbags. The opening balance of XYZ Pvt Ltd's franking account on 1 July 2010 was $nil. During the 201

Bentley Plastics Ltd. Has annual fixed cost of $450,000, variable costs of $15 per unit and a contribution rate of 40% a.    What annual revenue is required to break even? b.

Smith Corp. has determined that its contribution margin, (P - MC)/P, is 40%. A recent market research study found the following relationship between adverting outlays and sales rev

Determine the Single Limiting Factor A company manufactures and sells three products as A, B and C. The unit cost and revenue structure for every product and its maximum forec

Clopack Company manufactures one product that goes through one processing department called Mixing. All raw materials are introduced at the start of work in the Mixing Department.

Accrued income is an amount earned although not in reality received during the accounting period or till the date of preparation of last accounts for the period concerned. The firs

DF is describing its consolidated financial declaration for the year ended 31 December 2009. DF has a numerous investments in other entities. Some of these investments are provided

The Pacific Manufacturing Company operates a job-order costing system and applies overhead cost to jobs on the basis of direct labor cost. Its predetermined overhead rate was based