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AASB 8 - Operating Segments
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Summary 
Developments, Key Differences & History 
Compared to IFRS 
Interpretations 
Rejection Notices 
Questions & Answers 
Articles 
AASB website 

 
AASB 8 
as reported in ANT14/2007 
 
Q: Given that AASB 8 only applies to for-profit entities or groups,  
 
"(i) whose debt or equity instruments are traded in a public market (a domestic or foreign stock exchange or an over-the-counter market, including local and regional markets); or  
"(ii) that files, or is in the process of filing, its financial statements with a securities commission or other regulatory organisation for the purpose of issuing any class of instruments in a public market;", does that mean that other entities that have been up until now caught by AASB 114 can decide to adopt AASB 8 early and then not do any segment reporting at all? 
 
A: We understand that the AASB considered the changed scope of this standard when they decided to align AASB 8 with IFRS 8. This means that entities not caught under the new scope, ie all other reporting entities, can therefore apply AASB 8 early and cease segment reporting if they wish.