SimplyCPA
Quick Sheets/FAR/SEC Reporting, Segments & Interim Reporting

FAR — Quick Sheet

SEC Reporting, Segments & Interim Reporting

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One-minute revision

  • Segment is reportable if revenue, profit/loss, or assets ≥ 10% of combined total (any one test)
  • 75% overall test: reportable segments must cover ≥75% of consolidated external revenue
  • Interim reporting = "integral view" — allocate annual costs across quarters, don't treat each quarter standalone
  • Interim tax expense uses estimated annual effective tax rate on YTD income