IAS 14 – Business segments is a former International Accounting Standard that was fully redrawn in 2009 and superseded by IFRS 8. IAS 14 set the guideline on how to identify different business segments of a company.
Contents
History
A timeline of IAS 14
Differences between IAS 14 and IFRS 8
IFRS 8 requires companies to be more transparent about their business decisions and management information. Where IAS 14 required companies to base their reported business segments on the information presented in their financial statement, IFRS 8 requires them to also base this segmentation on any distinction made between business segments by key management in their decision making and information that is used internally by the company.
References
IAS 14 Wikipedia(Text) CC BY-SA