engleski

Segment reporting in harmonization and globalization processes

International Financial Reporting Standards (IFRS), as globally acceptable standards are the framework for understanding of the contents presented in the internal and external «financial statements». Significant moment in globalization process was November 2006, when the IASB issued IFRS 8 (Operating Segments), to be applied for periods beginning on, or after January 1st 2009. The main reason for implementation delay was the inability of the listed companies, to fulfill the obligation of presenting segment results to the external users in the same methodological manner as for the internal users. However, the world’s hotel industry proves (since 1926), that these principles can work successfully, because the IFRS 8 standard was based on the same starting point as USALI (Uniform System of Account for the Lodging Industry) standard. The aim of this research is to present the possibilities of IFRS 8, to improve the quality of the reporting system, based on the experience of application of USALI standards in Croatian’s hotel industry.

segment reporting; IFRS 8; IAS 14; US GAAP SFAS 131; USALI; operating segment; hospitality industry

nije evidentirano