A majority of companies are organized along product and/or service lines. For example, we show operating segment disclosures for Wyeth in Exhibit 8.4. Wyeth does not disclose interest revenue and interest expense by operating segment because these relate only to administration. Nor does it report income tax expense or benefit by segment because the company evaluates the performance of its [...]
Just as related parties can transfer land the intercompany sale of a host of other assets is possible. Equipment, patents, franchises, buildings, and other long-lived assets can be involved. Accounting for these transactions resembles that demonstrated for land sales. However, the subsequent calculation of depreciation or amortization provides an added challenge in the development of consolidated statements. Deferral of Unrealized [...]
In this article we will discuss about:- 1. Introduction to Interim Reporting 2. Minimum Disclosures in Interim Reports 3. Segment Information in Interim Reports. Introduction to Interim Reporting: To give investors and creditors more timely information than an annual report provides, companies show financial information for periods of less than one year. The SEC requires publicly traded companies in the [...]