Question

one way to report revenue earned by a company is to present it by different segments

one way to report revenue earned by a company is to present it by different segments

Homework Answers

Answer #1

The above mentioned statement is true. Revenue earned can be presented via different operating segments; it is called as Segment Reporting. Segmenting reporting is provided in the disclosures accompanying the Company Financial Statements, it is required for publicly held entities. Various segments could be:

  • Products/services sold or provided by the Company
  • Geographical area wise segments
  • Types or class of customer

Segment reporting helps in identifying and determining the important revenue and profit generating segments.

With the help of segment information, senior management can take review and make appropriate and accurate decisions as well as evaluate the performance of the operating segments.

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