Large companies use segmented financial statements for both internal management reporting and external management reporting .Segments are sections of a business managed and reported on seperately.Segments can be geographic ,profit centers or products or services .Analysing a company 's performance by individual segments can give managers greater insight into the relative profitability of different parts of business.
Segmented financial statements split a company,s books into reporting units .Each company has its own reporting units,which the company may segment based on where the operations are in the world or the kind of product or service is sold.An example of the first type of segmentation is reporting by continent .A company may want to analyse its North American and European units seperately to see how profitable each is . An example of the second type of segmentation is a company that makes diapers and incontinence produts .Each product has a seperate cost structure , a seperate marketing direction and a different target market.
Managers use segmented financial statements to help in the financial analysis process .Generally accepted accounting principles dictate that ,if a company uses segmented reporting internally ,it must also report segments externally to creditors and investors. This allows external financial statement users to look at the company the same way the managers can.Evan small companies can benifit by reporting segments internally .Each segmens represent a different profit potential and the more carefully and seperately they are analysed , the more information managers will have to increase profits in the future.
One of the most common segmentation method used by the companies is geographic .Geographic units can be large or samall .An international company may report on a country-to-country gasis while a small home based business might report on sales in different neighborhoods of the city .A geographical segment is not related to size ,but to individual sales strategies .Another common segment is producta and services .A lawn care company that has several services such as residential maintanence ,commercial lawn, cutting and landscape design may wish to look at the income and expance related to each of those units to decide if it should continue offering all of the services.
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