BC1 This Basis for Conclusions summarises the International Accounting Standards Board's considerations in reaching the conclusions in IFRS 8 Operating Segments. Individual Board members gave greater weight to some factors than to others.
BC2 In September 2002 the Board decided to add a short‑term convergence project to its active agenda. The project is being conducted jointly with the United States standard‑setter, the Financial Accounting Standards Board (FASB). The objective of the project is to reduce differences between IFRSs and US generally accepted accounting principles (US GAAP) that are capable of resolution in a relatively short time and can be addressed outside major projects.
BC3 As part of the project, the Board identified differences between IAS 14 Segment Reporting and the US standard SFAS 131 Disclosures about Segments of an Enterprise and Related Information, reviewed academic research findings on segment reporting, in particular relating to the implementation of
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