Why have companies under IND AS stopped providing product wise turnover?
For e.g. Hindustan Unilever Ltd. in its Annual Report for the year 2015-16 provided details of sale of products such as Soaps, Detergents etc. in its note on Revenue from Operations (Note 40 to the AR) but no such disclosure has been made by the company in its Annual Report this year (i.e 2016-17).
There's no such thing like that, that due to transition in preparation of Financial statements as per Ind-AS companies are escaping to give their product wise results. It’s just that companies can choose any nature of business segments to show the segment wise results. Let me give you an example, in the quarter ending the launch of the much hypes Apple watch, Apple Inc chose not to disclose their product wise results which could substantiate the general belief that Apple watch was a failure. You need to understand that Companies do these things for sustained investors and our Accounting standards give them flexibility towards it.
Also refer to Ind AS 108 on segment reports which primarly states how CODM reviews the business performance and makes key decision. Generally Companiees wanted to disclose few segments. Further, auditors can also look internal MIS of the Company being circulated to Management for the various segments considered by Management in its review.
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