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Overview
Accounting for operating segments is perennially a top SEC comment area. Comments focus on issues including who is a company’s chief operating decision maker, identification of operating segments, required disclosures, and when aggregation of operating segments is appropriate. This program will begin with a brief review of the FASB’s operating segment guidance. This guidance will be applied to detailed real-world examples of operating segment disclosures and the SEC comments and company responses related to those disclosures. Based on these examples, discussion will address how to avoid SEC comments and potentially worse outcomes related to operating segment disclosure.
Please join our discussion leaders Bob Laux and George M. Wilson of PLI’s SEC Institute for this deep dive into SEC operating segment comments.
Topics include:
- Brief review of the FASB’s operating segment standards – 10 minutes
- ASC 280
- Recent amendments to expand operating segment disclosures
- Interpretations
- Discussion of frequent comment issues for operating segments – 5 minutes
- Review and discussion of detailed real-world examples – 30 minutes
- Company disclosures
- Subsequent SEC comments
- Company responses and SEC follow-on comments
- Summary of overall considerations and conclusions from examples – 5 minutes
- Discussion of how to avoid operating segment comments – 10 minutes
Who Should Attend: Accountants and attorneys who deal with SEC reporting and disclosure and related accounting issues, including CFOs, controllers and their staff, internal auditors, partners of public accounting firms and their staff, in-house counsel, and outside attorneys
Program Level: Update
Prerequisites: None
Advanced Preparation: None