(Alliance News) - EMIS Group PLC said Tuesday that trading in the first half of 2019 was in line with management expectations, while the company also changed its segmental reporting
The merger should also lead to improved financial transparency of Fluvius compared with that of Infrax due to preparation of the financial statements under IFRS, including segmental reporting
GAAP and International Financial Reporting Standards (IFRS) regarding segmental reporting
: Under both sets of standards, an operating segment is defined as one whose operating results are regularly reviewed by the company's chief operating decision-maker to assess the performance of the individual segment, and to make decisions about resources allocated to the segment.
Users all seem to agree that cash flow statements and segmental reporting
notes are materially important, but that part of the picture is obscured or missing in many cases.
An example of this need is in typical segmental reporting
. Geographic segments in an end report are far less detailed than the information stored in the underlying transactions, so end reports "lose" information about geographic segments that doesn't have to appear in a summarized report but is necessary for many purposes.
The text covers four main areas: business combinations (11 chapters), multinational accounting (two chapters), governmental and nonprofit accounting (four chapters), and partnerships (two chapters), plus a chapter each on segmental reporting
and corporate reorganizations.
It includes issues such as transfer pricing, performance evaluation, segmental reporting
, and foreign transactions and translations.
Better Financial Transparency: The merger may lead to improved financial transparency if Fluvius prepares consolidated financial statements under IFRS and including segmental reporting
. Reporting in line with its western European peers could lead to the elimination of the notch down to Infrax's IDR which we currently apply due to complexity of the group structure, lack of consolidated statements and the cash flow statement, and governance limitations.
The most important changes are financial statement presentation, segmental reporting
and multiple reporting requirements.
market; (4) discussion on the existence and benefit of foreign sales corporations for U.S.-based multinational corporations and the related EU grievance brought forward in the WTO; and (5) detailed presentation of FASB, IAC and other countries' standards on issues such as business combination, goodwill, segmental reporting