By Nicola M. White
Companies would have to reveal new expense details about their business units under a US accounting rulemaker plan that represents the biggest change to segment reporting in 25 years.
Public companies would have to break down in their financial statement footnotes a slate of new disclosures about the most significant expenses in their operating segments, the Financial Accounting Standards Board said in a proposal released Thursday.
Operating segments, as defined by the segment reporting standard ASC 280, are units within a company that earn money and incur expenses. Their operating results are regularly reviewed by what accounting rules call a …
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