Buacc5934 Financial Accounting

Topics: Annual report, Financial statements, Balance sheet Pages: 2 (277 words) Published: January 17, 2011

The reporting of financial data by segments is generally considered to provide useful information for financial statement users. You are required to discuss the requirements for disclosure of segment information under Australian accounting standards. In your discussion you should cover the following:

1.the advantages of segment reporting information

2.the disadvantages of requiring the provision of segment information

3.the requirements of the Australian accounting standard AASB8 ‘Operating Segments’.

Maximum 1000 words

Using the attached segment information for the Qantas Group (taken from the 2010 Annual Report) answer the following :

1.On what basis would Qantas have chosen the operating segments for which information is provided in Note 2 (attached)

2.Explain the quantitative thresholds used to determine which operating segments are reporting segments.

3.Has Qantas complied with the disclosure requirements of Accounting Standard AASB8 Operating Segments

4.Analyse the information provided and explain how this information might be useful for investors seeking to assess the financial performance of the Qantas Group.

Maximum 1000 words

Marks 2+2+4+2+2+2 +4 = 20 marks

Attachment: Extract from Qantas Group 2010 Annual Report (Note 2: Underlying PBT and Operating Segments)

Assessment Criteria

The criteria used to assess the submitted assignment will be: •Ability to work collegially in a group environment for shared success. •Evidence of relevant research and demonstrated understanding of research materials. As a minimum students should consult the references listed under additional resources in the Course Description •The structure, coherence and logic of arguments and analysis presented....
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