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A requirement to furnish such segmented profit and loss statements with a starting date of December 10, 1990, is unrealistic and an unnecessary hardship, when it is not yet known whether this requirement will be included in the final regulations.
A reporting corporation, of course, may have a number of related parties involved, for example, in manufacturing at various stages and selling to it the goods that it imports; it is understood that the costs of all related parties must be reflected in a single combined profit and loss statement for each industry segment and that transactions between related parties are eliminated in the combination process.
The material profit and loss statement is designed to furnish a segmented profit and loss statement that relates to certain product lines, products, or models, generally depending upon the statements otherwise maintained, the amount of sales, or assets used, or operating profit attributed to, the particular product line, product, or model.