Exam 12: Reporting Segment and Related Information

Items that must be disclosed for a reportable segment if those items are included in the measure of profitability used by the CODM are (a)_______________________, (b)______________________, (c) _____________________, (d)______________________, (e) ______________________, (f) ______________________, (g) _______________________, (h) ______________________, and (i) ______________________.

In presenting segment data, eliminations and adjustments (that pertain to reportable segments) made in consolidation must be allocated to reportable segments.

Selected data (in millions) for Pladco's identified operating segments follows: Required: a. Perform the three quantitative thresholds tests. (None of the segments provides financial services.) b. Determine if the 75% test's quantitative threshold is satisfied.

Selected data (in millions) for Plyco's identified operating segments follows: Required: a. Perform the three quantitative thresholds tests. (Only Segment 5 provides financial services.) b. Determine if the 75% test's quantitative threshold is satisfied.

FAS 131 permits asymmetrical allocations to segments.

The two major disclosures for reportable operating segments are (a) a measure of _______________________ and (b) a measure of ___________________________.

In presenting segment data, costs accounted for at a consolidated level need not be allocated to segments.

Selected data (in millions) for Parmax's identified operating segments follow: Required: a. Perform the revenues quantitative threshold test. (Only Segment 4 provides financial services.) b. Determine if the 75% test's quantitative threshold is satisfied-assume that the other two tests did not result in any additional reportable segments.

_____ The revenue amounts for a reportable segment that are included in the revenues amount used in the revenues test used to determine reportable segments

Segment profitability for all reportable segments must be reconciled to ________ ___________________________ ________________________________ income.

_____ The assets test used for determining reportable segments uses an asset amount that includes:

The basis of segmentation required by FAS 131 is called the ____________________ _____________________________ approach.

_____ A component of a vertically integrated operation

All foreign subsidiaries are automatically operating segments (though some may not be reportable segments).

Segment reporting is not required in the separately issued financial statements of a subsidiary if the parent has also issued consolidated statements in a separate report.

Selected data (in millions) for Pozax's identified operating segments follow: Required: Perform the profitability quantitative thresholds test.

_____ Palco has two reportable operating segments. For 2006, the following segment information is provided:

_____ The assets test used for determining reportable segments uses an asset amount that excludes:

In performing the revenues test to determine reportable segments, one includes any _________________________ sales but excludes any ____________________ sales.

A start-up operation cannot be an operating segment until it has significant revenues.