Explain the Reconciliation Information AASB 8 Requires for Segment Reporting

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The Answer is AASB 8 requires companies to provide reconciliation information for segment reporting, which includes reconciling the total of the reportable segments' revenues, expenses, and results to the entity's consolidated financial statements. This reconciliation should include a description of the reconciling items, such as intersegment revenues and expenses, and any other significant reconciling items. The purpose of this requirement is to help users of the financial statements understand the relationship between the segment information and the entity's consolidated financial results, and to provide transparency and clarity in the reporting of segment information. This reconciliation information helps stakeholders to assess the performance and financial position of the company's individual segments and the overall entity.

Explain the Reconciliation Information AASB 8 Requires for Segment Reporting

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