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5 Apr. 2017

Exposure Draft on improvements to AASB 8 Operating Segments

ED 278 Improvements to AASB 8 Operating Segments proposes amendments to AASB 8 and AASB 134. Some of the main proposed changes to AASB 8 are:

  • emphasising the nature of the function of a chief operating decision maker (CODM) and providing additional guidance on identifying the CODM;
  • requiring an explanation in the notes to the financial statements of how, and why, any reportable segments identified within the financial statements differ from segments identified in other parts of its annual reporting package; and
  • clarifying that an entity may disclose segment information in addition to that reviewed by, or regularly provided to, the CODM if that helps the entity meet the core principle in AASB 8. 

Comments to the AASB on ED 278 are required by 23 June 2017.