IFRS 8 adopts which approach to report segmented financial information?
A)geographic approach
B)business lines approach
C)management approach
D)asset test approach

Question

Quizplus · Accepted Answer

IFRS 8 adopts the management approach to report segmented financial information, which requires entities to report financial information based on the way management reviews and makes decisions about the business. The management approach allows entities to report segments based on the internal management reporting that is provided to key decision-makers within the organization, and reflects how they manage and allocate resources to the business. Therefore, option C is the correct answer.

IFRS 8 Adopts Which Approach to Report Segmented Financial Information