Identification of Operating Segments in AASB 8 Operating Segments Adopts

question 54

True/False

Identification of operating segments in AASB 8 Operating Segments adopts a 'rules-based' approach,while its predecessor AASB 114 Segment Reporting adopts a 'principles-based' approach.

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Definitions:

Practical Judgment

The ability to make sensible decisions based on practical considerations and real-life situations.

Leadership Success

The achievement of desired outcomes and objectives through effective leading, guiding, and influencing of others, marked by the ability to inspire, motivate, and facilitate collaboration among team members.

Understanding People

The act of recognizing and appreciating the feelings, thoughts, and behaviors of others.

Effective Delegation

the process of assigning responsibility and authority to others in a manner that maximizes productivity, empowers team members, and ensures tasks are completed efficiently.