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We approach each audit with sharp thought, straight talk and common sense. In addition to verifying that financial results are fairly presented and meet...
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Audit of annual and consolidated financial statements
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Accounting in accordance with UGB, US-GAAP or IFRS is in constant motion. The integration of new regulations into their own accounting systems poses special challenges for companies.
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We take care of your indirect taxes so you can take care of your business
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At Grant Thornton, outsourcing represents more than US$250 million of our business. Whatever the size of your organisation or wherever you are in the world, we...
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Financial accounting is the basis for many decisions in the company. Only those who prepare their figures clearly and get a good overview of their company can recognize weak points in time and react to negative developments. The use of state-of-the-art software (BMD) allows you to access your figures at any time. Digital document management and a document management system for data archiving are a matter of course. We take care of your financial accounting.
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Depending on the size of your company and the legal form chosen, you are obliged to prepare annual financial statements. In addition, shareholders, owners and management want to be provided with financial information on a regular basis. We support you in fulfilling your recording obligations and thus ensure that you present companies, the bank and other addressees with meaningful and reliable figures.
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Payroll services are among the subject areas that are changing rapidly and constantly gaining in complexity. This is where tax law, social security law, labour law, residence law and other legal matters come together. Our experts will help your team to stay up-to-date and solve complex issues. But we are also happy to take care of your entire payroll accounting.
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Robotic Process Automation (RPA) is a software-based technology that mimics a series of activities within and between systems based on a set of instructions typically to complete a process.
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Valuations are a core competence of Grant Thornton Austria. As auditors and tax advisors we combine profound know-how with our practical experience to offer you customized solutions for your valuation assignment. Our industry expertise is based on years of services to our clients, including listed companies as well as owner-managed companies with an international focus. We advise on valuation matters related to arbitration and provide expert opinions.
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Restructuring & Going Concern Forecast
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Expert dispute resolution & advisory
Grant Thornton Austria offers comprehensive services in the field of business-oriented expert services with a broad range of competencies from banking to communication. The core activity of experts is the objective recording of findings and the preparation of expert opinions - regardless of all external circumstances. Our experts Gottwald Kranebitter and Georg H. Jeitler, as sworn and court-certified experts, ensure that the highest professional standards and the principle of objectivity are observed.
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Turkish Desk
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Optimism is slowly returning to the global economy, but the financial services industry needs to regain the trust of public and private bodies. To succeed,...
While the impact of the prolonged downturn continues to be felt, pockets of opportunity and optimism have emerged within the retail estate and construction...
Across the globe, not for profit organisations are increasingly expected to deliver more, while at the same time facing cuts in government funding and...
We work with all types of agencies, including central and state government, local government, donors (including bilateral and multilateral international...
With the help of outsourcing you can concentrate on the essential tasks, especially if it is a start-up and fixed costs are to be kept low.
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With our extensive industry experience ranging from small family-run restaurants and pensions to national providers, international hotel groups, tour...
Segmental information is a way of increasing transparency in financial statements prepared for investors and creditors, especially for areas of the business that are significant and drive the entity’s overall business strategy. IFRS 8 ‘Operating Segments’ requires this information that is provided to management to be disclosed in the annual financial statements, so that investors and other users of entities’ financial statements can review an entity’s operations from the same perspective.
Our ‘Insights into IFRS 8’ series is designed to illustrate how IFRS 8 should be applied and it provides guidance and insight in some problematic areas. We also include several examples illustrating the Standard’s requirements. This article sets out example disclosures of segment information.
Included in this article are illustrative disclosures under IFRS 8 for a fictional entity Illustrative Corporation Ltd and its subsidiaries (the Group) – a fictional consulting, service and retail entity that has been preparing IFRS consolidated financial statements for several years.
IFRS 8 requires each operating segment item to be disclosed using the same measures reported to the chief operating decision maker (ie based on internal management information).
IFRS 8 disclosures for annual financial statements
The illustrative disclosures in this article are based on a fictitious entity, and so cannot be viewed as the only acceptable way of providing segment disclosures.
How we can help
We hope you find the information in this article helpful in giving you some insight into IFRS 8. If you would like to discuss any of the points raised, please speak to your usual Grant Thornton contact or your local member firm.
Authors
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Mark Hucklesby Mark is the Director of Financial Reporting at Grant Thornton International, he shares the skill and experience gained from over 35 years in the accounting and auditing profession working in New Zealand, England and the United States with the global network.Follow on LinkedIn -
Sarah Carroll Sarah is a senior member of the global IFRS team which promotes the high quality consistent application of IFRS.Follow on LinkedIn
