In Addition to Financial Information Disclosures,AASB 8 Also Requires Disclosure

question 8

Essay

In addition to financial information disclosures,AASB 8 also requires disclosure of non-financial information.Discuss what non-financial disclosures related to segment reporting are required under AASB 8 and the rationale for these disclosures.

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Definitions:

Flooding

An overflow of water onto land that is normally dry, often caused by heavy rain, melting snow, or breaches in water control structures.

Foreseen

Expected to occur in the future based on forecasts or predictions.

False Imprisonment

The unlawful confinement of a person without consent or legal authority, effectively restricting their freedom of movement.

Qualified Privilege

A legal immunity granted in specific circumstances, usually during defamation cases, allowing freedom of expression without liability, provided statements are made without malice.