IAS 14

IAS 14 – Business segments is a former International Accounting Standard that has been fully redrawn in 2009 and been superseded IFRS 8. IAS 14 set the guideline on how to identify different business segments of a company.^[1]

History

A timeline of IAS 14 ^[2]

Date	Development
March 1980	Exposure Draft E15 Reporting Financial Information by Segment
August 1981	IAS 14 Reporting Financial Information by Segment
January 1983	Effective date of IAS 14 (1981)
January 1994	IAS 14 (1981) was reformatted
December 1995	Exposure Draft E51 Reporting Financial Information by Segment
August 1997	IAS 14 Segment Reporting1 July 1998Effective date of IAS 14 (1997)
November 2006	IAS 14 is superseded by IFRS 8 Operating Segments effective for annual periods beginning 1 January 2009

Differences between IAS 14 and IFRS 8

IFRS 8 requires companies to be more transparent about the business decisions and management information. Where IAS 14 required companies to base their reported business segments just on the information presented in the 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. ^[3]

References

1. "IAS 14 - Business segments". iasplus.com. Deloitte. Retrieved 26 October 2016.
2. "IAS 14 - Business segments". iasplus.com. Deloitte. Retrieved 26 October 2016.
3. "A practical guide to segment reporting" (PDF). pwc.com. PwC. Retrieved 26 October 2016.