Changes in Generally Accepted Accounting Principles: Case of SF AS 131-Disclosures about Segments of an Enterprise and Related Information

Date
2014-01-15
Authors
Arakaki, Kristi
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University of Hawaii at Manoa
Abstract
Statement of Financial Accounting Standards 131 (SFAS 131), Reporting disaggregated information about a business enterprise and related information, was issued by the Financial Accounting Standards Board (FASB) in June 1997, as part of an effort to redress inefficiencies of SFAS 14, Financial reportingfor segments ofa business enterprise. SFAS 131 is designed to provide more useful and meaningful information regarding operating segments of companies to enhance the ability of users of financial data to evaluate the financial statements of firms. Prior research has sometimes indicated that the FASB has not reached its objectives when SFASs are adopted. The purpose of this study is to provide initial results on the effectiveness of SFAS 131.
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