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Final stage
On 12 December 2013, the International Accounting Standards Board issued Annual Improvements to IFRSs 2010–2012 Cycle. The revised standard has an effective date of 1 July 2014, but earlier adoption is permitted.
About the project
The IASB was informed of concerns that the basis on which entities applied the aggregation criteria in IFRS 8 Operating Segments to operating segments were not clear.
The amendments include a disclosure in IFRS 8 requiring a description of both the operating segments that have been aggregated and the economic indicators that have been assessed in order to conclude that the operating segments have “similar economic characteristics” in accordance with paragraph 12 of IFRS 8.
