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skender Corporation is a Turkish conglomerate with operations located throughout Europe and the Middle East. The company recently adopted International Financial Reporting Standards and has prepared disclosures to comply with IFRS 8, Operating Segments. Information related to revenues.

skender Corporation is a Turkish conglomerate with operations located throughout Europe and the Middle East. The company recently adopted International Financial Reporting Standards and has prepared disclosures to comply with IFRS 8, Operating Segments. Information related to revenues.

Operating Segments              Total Revenues       Countries             Sales to

External Customers

Automotive . . . . . . . . . . . . .          23,093              Turkey            28876

Food . . . . . . . . . . . . . . . . . .            22,875             Germany          18765

Retail . . . . . . . . . . . . . . . . . .           13,987              Bulgaria          12076

Finance    . . . . . . . . . . . . . . . .          7,895               Russia            9897

Consumer durable . . . . . . . .          7,182               Italy              7654

Energy . . . . . . . . . . . . . . . . .           6642                Iraq              6757

Real estate. . . . . . . . . . . . . .           5,400               Uzbekistan        3049

Total         . . . . . . . . . . . . . . . .              87,074                               87074

 

Based upon this information, Iskender prepares the following note to comply with IFRS 8

 

Note 30: Segment Reporting (amounts in millions of Turkish Lira)

 

 

Operating Segments                                        Automotive     Food    Retail      other

External sales . . . . . . . ……….                21,678        19,781   13,987     22,397

Profit (loss). . . . . . . . . ……….                4,076        2,007     3,467      5,563

Depreciation . . . . . …………                   222         135      142        456

Total assets     . . . . . . . . ……….               18,874        20,765    9,654      20,765

Capital expenditures        . ……….               367         228       195       513

Equity method investments . . . . . .             398          0-        0         678

Geographic Areas                                                      Turkey       Germany   Bulgaria   Other

External sales . . . . . . . . . . . . . . . . .             28,876        8,765     12,076    27,357

Property, plant, and equipment . . .           7,078         2,508      3,097    5,478

 

Required:

Evaluate whether Note 30 Segment Reporting is in compliance with IFRS 8 based upon the information provided

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