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Accounting Standards for the Public Sector

Objective
The objective of this Standard is to establish principles for reporting
financial information by segments. The disclosure of this information
will:
(a) help users of the financial statements to better understand the
entity’s past performance and to identify the resources allocated
to support the major activities of the entity; and
(b) enhance the transparency of financial reporting and enable the
entity to better discharge its accountability obligations.

Definition of a Segment

A segment is a distinguishable activity or group of activities of an entity for which it is appropriate to separately report financial information for the purpose of evaluating the entity’s past performance in achieving its objectives and for making decisions about the future allocation of resources.

Reporting By Segments

Under this Standard, public sector entities will identify as separate segments each distinguishable activity......

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Approximate Word Count: 1301
Approximate Pages: 6 (250 words per double-spaced page)

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