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Operating Segments

In: Business and Management

Submitted By alrichards
Words 342
Pages 2
I will be happy to assist you, based on the information it is clear that the company does indeed have different operating segments. This was determined from ASC 280-10-50-1; within the codification there are three characteristics that the company must have. For clarity I have posted them below.

1. a. It engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same public entity).
2. b. Its operating results are regularly reviewed by the public entity's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance.
3. c. Its discrete financial information is available
For SEC reporting purposes we find guidance from ASC 280-10-50-11 regarding aggregation criteria as well as 280-10-50-12 which sets forth the qualitative thresholds. The nature of the entire business in which the company operates in is very similar from the type of customer they serve to the service they deliver everything is very standardized. So after careful analysis I have determined that the aggregation criterion is met.
The threshold requirements have been met by certain operations in the company; upon analysis of the information provided it was determined that Big Islands Georgia, Big Islands North Carolina, Big Islands Washington, Still Water Thrills Orlando, Island Adventure Cove, and Still Water Thrills Charlotte all exceed the quantitative threshold of ten percent of total profits and must be reported separately from the remaining parks. As for the other parks that do not exceed the quantitative threshold of ten percent they can be aggregated to meet the quantitative threshold.
To conclude the Big Islands must report separately any segment that exceeds ten percent of revenues for the entire company, any park…...

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