Introduction
This is a study taken in relation to the international accounting standards board. The board issued new operating segment that was to replace the revised international accounting standard (IAS 14) segment reporting requirements with the counterparts in SFAS 131. A new standard was to be implemented in order to replace the existing standard. The board intended to implement a standard known as exposure draft 8 also known as ED 8 in. Before replacing the current regulations there was need to invite other constituents to participate and give their opinions on the matters stated on the draft. Normally, implementation of new standards to an already existing firm operation would be something that needed participation of the principal parties that are likely to be affected by the new terms.


