Segment reporting, Cost Accounting

Assignment Help:

Juniper Ltd is a listed diversified company.  In preparing its financial statements in accordance with AASB 8, the chief operating officer has identified three operating segments: construction, retail and transport.  Details concerning each operating segment are provided in the tables below:

 

Total Sales

$

('000)

Profit before tax

$

('000)

Assets

$

('000)

Construction

75

   3

500

Retail

315

-20

3 125

Transport

375

35

2 500

Head Office

    0

  0

   125

 

 

 

Depreciation

$

('000)

Other Non

Cash Expenses

$

('000)

 

Liabilities

$

('000)

Capital

Acquisitions

$

('000)

Construction

      10

15

2 000

65

Retail

      30

20

1 250

125

Transport

      25

25

3 000

250

Additional Information

  • Sales are primarily to external parties with the exception of $50 000 external sales made to Construction from the Transport segment. These sales generated a profit amounting to $10 000. All inter-segment liabilities have been paid and any materials sold between the segments have since been sold externally.
  • There are no investments in associates.
  • The income tax expense for the year is $10 000.
  • There are no extraordinary items.
  • Unallocated corporate assets total $75 000.
  • Unallocated corporate liabilities amounted to $150 000.
  • Unallocated corporate expenses amounted to $35 000.

Required

(i)  In accordance with the relevant accounting standard, identify the reportable business segments showing all calculations.

(ii) What do you consider are the advantages of providing segment information to external users


Related Discussions:- Segment reporting

Prepare a forecast of cashflow, A company is to produce an IC and a chip si...

A company is to produce an IC and a chip size of 120mm2 has been estimated, based on using a full-custom nMOS technology on 8" wafers. The process has a 92% yield at the wafer fab

IDLE CAPACITY, HOW DOES IDLE CAPACITY EFFECT COST BEHAVIOR PATTERNS AND FAC...

HOW DOES IDLE CAPACITY EFFECT COST BEHAVIOR PATTERNS AND FACTORY OVERHEAD METHODS?

Material costs, Material Costs Material refers to each physical input ...

Material Costs Material refers to each physical input into the production procedure. They involve the giving as: Raw material refers to bought in material that is used

Decision making cycle, Decision Making Cycle Steps in decision-making ...

Decision Making Cycle Steps in decision-making cycle are as: a) Clearly define the objective that is to be the focus of the decision. This is significant in order that the

Business and the generation of accounting standards, This time of year we a...

This time of year we all here about football. For me it is the bad news of how poorly the Buffalo Bills are performing. Hopefully your favorite team is doing well. One thing we

Compute the cost of good sold and the ending inventory value, Beginning inv...

Beginning inventory on March 1 consisted of 2,000 units each costing $11.20. During March, the following was purchased for inventory: Date Purchase

Explain the following types of costs, Explain the following types of costs....

Explain the following types of costs. a. Fixed and variable costs b. Explicit and implicit costs c. Direct and indirect costs d. Past and future costs e.

Question, mojor elements of cost sheet

mojor elements of cost sheet

Goods and services tax, William Potter is a plumber currently operating as ...

William Potter is a plumber currently operating as a Sole Trader in Levin. William has approached you, a tax accountant, for your advice on certain tax matters. William's brothe

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd