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SEGMENT REPORTING
In its annual financial statements for the year ended 31 March 2020, Syarikat Pengangkutan Rangkaian Mesra Bhd. (SPRM), a public listed company, had identified the following operating segments:
Segment 1 local train operations
Segment 2 inter-city train operations
Segment 3 railway constructions
Required:
Question a) A central issue in reporting on operating segments of a business enterprise is the determination of which segments are reportable.
Instructions
(i) What are the tests to determine whether or not an operating segment is reportable?
(ii) What is the test to determine if enough operating segments have been separately reported upon, and what is the guideline on the maximum number of operating segments to be shown?
Question b) Advise SPRM on how the above accounting issue should be dealt with in its financial statements for the years ending 31 March 2020.
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