Describe the Requirements for Disclosure of Segment Information for Enterprise

Question

Examlex · Accepted Answer

The Answer is Since the basic financial statements include the detail of only major enterprise funds,the GASB decided to require segment information for major nonhomogeneous enterprise funds,especially when debt is issued separately. Disclosures are similar to those of the FASB and include net income or loss,operating income or loss,depreciation expense,total assets,and net working capital. Segment information is required when (a)material long-term liabilities are outstanding,(b)the disclosures are essential to assure the GPFS are not misleading,or (c)they are necessary to assure interperiod comparability.

Describe the Requirements for Disclosure of Segment Information for Enterprise

Essay

Correct Answer:
Verified

Describe the Requirements for Disclosure of Segment Information for Enterprise

Essay

Correct Answer:VerifiedShow Answer

Correct Answer:
Verified