Brief Exercise 24-5 Foley Corporation has seven industry segments with total revenues as follows. Based only on the revenues test, which industry segments are reportable? Solution IFRS 8 requires an entity to report financial and descriptive information about its reportable segments. Reportable segments are operating segments or aggregations of operating segments that meet specified criteria: A segment is said to be reportable if its reported revenue, from both external customers and intersegment sales or transfers, is 10 per cent or more of the combined revenue, internal and external, of all operating segments, or Particulars Amount % of total Reportable or Non reportable enley $600 20.69% Reportable Konami 650 22.41% Reportable KSC 250 8.62% Non Reportable Red Moon 275 9.48% Non Reportable Cheng $225 7.76% Non Reportable Takuhi 200 6.90% Non Reportable Molina 700 24.14% Reportable Total Revenue $2,900                     1.00 .

1. Brief Exercise 24-5
Foley Corporation has seven industry segments with total revenues as follows.
Based only on the revenues test, which industry segments are reportable?
Penley $600 Cheng $225
Konami 650 Takuhi 200
KSC 250 Molina 700
Red Moon 275
Solution
IFRS 8 requires an entity to report financial and descriptive information about its reportable
segments. Reportable segments are operating segments or aggregations of operating segments
that meet specified criteria: A segment is said to be reportable if its reported revenue, from both
external customers and intersegment sales or transfers, is 10 per cent or more of the combined
revenue, internal and external, of all operating segments, or Particulars Amount % of total
Reportable or Non reportable enley $600 20.69% Reportable Konami 650 22.41% Reportable
KSC 250 8.62% Non Reportable Red Moon 275 9.48% Non Reportable Cheng $225 7.76% Non
Reportable Takuhi 200 6.90% Non Reportable Molina 700 24.14% Reportable Total Revenue
$2,900 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 1.00