An enterprise determines that it must report segment data in annual reports for
ID: 2542030 • Letter: A
Question
An enterprise determines that it must report segment data in annual reports for the year ended December 31, 2017. Which of the following would NOT be an acceptable way of reporting segment information?
a. Entirely in the footnotes to the financial statements.
b. In a separate schedule that is included as an integral part of the financial statements.
c. Within the body of the financial statements, with appropriate explanatory disclosures in the footnotes
d. As a special report issued separately from the financial statements.
a. Entirely in the footnotes to the financial statements.
Explanation / Answer
a. Entirely in the footnotes to the financial statements.
Segment reporting cannot be included in footnotes. The purpose of footnotes is to draw the attention of the stakeholder on items already included (or) those that cannot be included. Segment reporting is an includable element.