The evolution of segment reporting standards under IFRS and its determinants

In the history of International Financial Reporting Standards, there are three standards dedicated to segment reporting. These include IAS14, IAS14R and IFRS8. The purpose of this article is to present the changes which took place between the standards and assessment of their validity. Therefore, the will be presented the most important regulation of the above standards, which include: the type of isolated segments, business segmentation procedure, the criteria for the recognition of business segments for reporting segments and required financial information to be disclosed. Consideration shall be given to the question of the causes which led to the start of work on new standards, resulting in the consequences of the change. Also, there will be presented the results of empirical studies and the conclusions about segment reporting standard and the validity of their changes.