Segment reporting:Is IFRS8 really better?

This paper contributes to the debate on segment reporting standards in the UK and Europe and, specifically, the merit of IFRS 8 relative to predecessor standards (SSAP 25 and IAS 14R). We carry out a longitudinal analysis of segment reporting practices of a large sample of listed UK companies, covering all three reporting regimes. Using the Proprietary Cost Theory (PCT) as our theoretical lens, we present evidence consistent with PCT, that proprietary costs considerations influence companies’ segment disclosure choices. We show that when companies are required to disclose more detailed accounting information for geographical segments (e.g., when geography is the basis of operating segments, under IFRS 8, or primary segments, under IAS 14R), they choose to define geographical segments in broader geographic areas terms than was the case under SSAP 25. We find that although companies disclose greater quantity of segmental information under IFRS 8 and IAS 14R (than SSAP 25), the more recent standards brought about a notable reduction in (i) the level of specificity of the disclosed geographical segments, and (ii) the quantity of disclosed geographic segment profit data – one of the most important data types for users. While this may have reduced the proprietary costs of segment disclosures, the reduction in disclosure of segmental performance data may have reduced the usefulness of segment reports to investors

Theoretical and Experimental Investigation of 3D-Printed Polylactide Laminate Composites’ Mechanical Properties

The purpose of this work is to theoretically and experimentally investigate the applicability of the Tsai–Hill failure criterion and classical laminate theory for predicting the strength and stiffness of 3D-printed polylactide laminate composites with various raster angles in mechanical tests for uniaxial tension and compression. According to the results of tensile and compression tests, the stiffness matrix components of the orthotropic individual lamina and strength were determined. The Poisson’s ratio was determined using the digital image correlation method. It was found that the Tsai–Hill criterion is applicable for predicting the tensile strength and yield strength of laminate polymer composite materials manufactured via fused deposition modeling 3D printing. The calculated values of the elastic moduli for specimens with various raster angles correlate well with the values obtained experimentally. In tensile tests, the error for the laminate with a constant raster angle was 3.3%, for a composite laminate it was 4.4, in compression tests it was 11.9% and 9%, respectively