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A quote from a colleague: ' I never look at the operating segment information in a set of financial statements when I am making investment decisions – it's just lots and lots of numbers I won't understand. It must cost entities a significant amount of money to produce the information, which must outweigh the benefits it provides'.
(a) Discuss the benefits that could be gained by investors from reviewing the operating segment disclosures when making future decisions on investment.
(b) Discuss the limitations of using operating segment information when making investment decisions.
(c) Discuss how the requirements of IFRS 8 Operating Segments assist entities in minimizing the costs of producing these disclosures.