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Line-of-Business Reporting
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Line-of-Business Reporting
A convention some companies use in their financial statements in which they report information by sector. For example, a single publicly-traded company that engages in agriculture, mining, and manufacturing may report revenue, sales, and profits/losses for each field individually. This allows a company to show its investors what parts of the company are performing better relative to the others. It also prevents one sector that is overperforming or underperforming from unduly influencing a financial statement.

line-of-business reporting


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This trend is driving demand for Web-based financial consolidation and reporting solutions that can shorten the time it takes to collect, consolidate and deliver financial results that meet the line of business reporting needs of internal management as well as the changing reporting requirements of the investment community.
Statement of Financial Accounting Standards 131 "Disclosures about Segments of an Enterprise and Related Information" requires that if a reorganization causes the chief decision-maker to alter the way that performance is assessed and resources are allocated inside the company, then the line of business reporting should change to reflect this.
The reserve change is due to a line of business reporting change for commercial package policies to commercial multiperil from various other lines, including other liability and product liability.
 
 
 
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