INDEXSR.NOTOPICPG.NO

1Chapter I Objectives 6

2Chapter II Introduction7

3Chapter III Segment Report Policies16

4Chapter IV Chief Operating Decision Maker20

5Chapter V Application TATA Group23

6Chapter VI Application RELIANCE Group29

9Chapter IX Conclusion31

OBJECTIVES

The aim behind preparing and studying the topic ACCOUNTING STANDARDS 17: ITS APPLICATION IN CORPORATE SECTOR is to get known about the AS 17 in detail and to get known its application in corporate sector. To read and analyze the segment reporting with reference to a corporate image.INTRODUCTIONINDIAN ACCOUNTING STANDARDSIndian Accounting Standards (abbreviated as India AS) are a set of accounting standards notified by the Ministry of Corporate Affairs which are converged with International Financial Reporting Standards (IFRS). These accounting standards are formulated by Accounting Standards Board of Institute of Chartered Accountants of India. Now India will have two sets of accounting standards viz. existing accounting standards under Companies (Accounting Standard) Rules, 2006 and IFRS converged Indian Accounting Standards(Ind AS). The Ind AS are named and numbered in the same way as the corresponding IFRS. NACAS recommend these standards to the Ministry of Corporate Affairs. The Ministry of Corporate Affairs has to spell out the accounting standards applicable for companies in India. As on date the Ministry of Corporate Affairs notified 35 Indian Accounting Standards(Ind AS).This shall be applied to the companies of financial year 2015-16 voluntarily and from 2016-17 on a mandatory basis. Based on the international consensus, the regulators will separately notify the date of implementation of AS Ind for the banks, insurance companies etc. Standards for the computation of Tax would be notified separately.[1]OBJECTIVE The basic objective of Accounting Standards is to remove variations in the treatment of several accounting aspects and to bring about standardization in presentation. They intent to harmonize the diverse accounting policies followed in the preparation and presentation of financial statements by different reporting enterprises so as to facilitate intra-firm and inter-firm comparison.

ACCOUNTING STANDARD (AS) 17 SEGMENT REPORTINGSegment reporting is the reporting of the operating segments of a company in the disclosures accompanying its financial statements. Segment reporting is required for publicly-held entities, and is not required for privately held ones. Segment reporting is intended to give information to investors and creditors regarding the financial results and position of the most important operating units of a company, which they can use as the basis for decisions related to the company.

Usual for reporting entities to be involved in a number of different activities and to be located in widely dispersed locations Consolidated financial statements provide aggregated results with resulting loss of information consolidated financial statements combine the results of a multitude of subsidiaries that could be operating in widely different industries and locations Requirement to consolidate all entities that a company controls means there is a need for segment data AASB 8 Operating Segments requires the disclosure of segment information within the notes of a companys financial statementsUnder Generally Accepted Accounting Principles (GAAP), an operating segment engages in business activities from which it may earn revenue and incur expenses, has discrete financial information available, and whose results are regularly reviewed by the entity's chief operating decision maker for performance assessment and resource allocation decisions. Follow these rules to determine which segments need to be reported: Aggregate the results of two or more segments if they have similar products, services, processes, customers, distribution methods, and regulatory environments. Report a segment if it has at least 10% of the revenues, 10% of the profit or loss, or 10% of the combined assets of the entity. If the total revenue of the segments you have selected under the preceding criteria comprise less than 75% of the entities total revenue, then add more segments until you reach that threshold. You can add more segments beyond the minimum just noted, but consider a reduction if the total exceeds ten segments.The information you should include in segment reporting includes: The factors used to identify reportable segments The types of products and services sold by each segment The basis of organization (such as being organized around a geographic region, product line, and so forth) Revenues Interest expense Depreciation and amortization Material expense items Equity method interests in other entities Income tax expense or income Extraordinary items Other material non-cash items Profit or lossThe segment reporting requirements under International Financial Reporting Standards are essentially identical to the requirements just noted under GAAP.This Accounting Standard is not mandatory for Small and Medium Sized Companies, as defined in the Notification. Such companies are however encouraged to comply with the Standard.The following terms are used in this Standard with the meanings specified:A business segment is a distinguishable component of an enterprise that is engaged in providing an individual product or service or a group of related products or services and that is subject to risks and returns that are different from those of other business segments. FactorsThat should be considered in determining whether products or services are related include:(a) The nature of the products or services;(b) The nature of the production processes;(c) The type or class of customers for the products or services;(d) The methods used to distribute the products or provide the services; and(e) If applicable, the nature of the regulatory environment, for example, banking, insurance, or public utilities.A geographical segment is a distinguishable component of an enterprise that is engaged in providing products or services within a particular economic environment and that is subject to risks and returns that are different from those of components operating in Segment Reporting other economic environments. Factors that should be considered in identifying geographical segments include:(a) Similarity of economic and political conditions;(b) Relationships between operations in different geographical areas;(c) Proximity of operations;(d) Special risks associated with operations in a particular area;(e) Exchange control regulations; and(f) The underlying currency risks.A reportable segment is a business segment or a geographical segment identified on the basis of foregoing definitions for which segment information is required to be disclosed by this Standard. Enterprise revenue is revenue from sales to external customers as reported in the statement of profit and loss. Segment revenue is the aggregate of(I) the portion of enterprise revenue that is directly attributable to a segment,(ii) The relevant portion of enterprise revenue that can be allocated on a reasonable basis to a segment, and(iii) Revenue from transactions with other segments of the enterprise.

Segment revenue does not include:(a) Extraordinary items as defined in AS 5, Net Profit or LossFor the Period, Prior Period Items and Changes in Accounting Policies;(b) Interest or dividend income, including interest earned on advances or loans to other segments unless the operations of the segment are primarily of a financial nature; and (c) Gains on sales of investments or on extinguishment of debt unless the operations of the segment are primarily of a financial nature.

Segment expense is the aggregate of(I) the expense resulting from the operating activities of a segment that is directly attributable to the segment, and(ii) The relevant portion of enterprise expense that can be allocated on a reasonable basis to the segment, including expense relating to transactions with other segments of the enterprise.Segment expense does not include:(a) Extraordinary items as defined in AS 5, Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies;(b) Interest expense, including interest incurred on advances or loans from other segments, unless the operations of the segment are primarily of a financial nature;

Explanation:The interest expense relating to overdrafts and other operating liabilities identified to a particular segment are not included as a part of the segment expense unless the operations of the segment are primarily of a financial nature or unless the interest is included as a part of the cost of inventories. In case interest is included as a part of the cost of inventories where it is so required as per AS 16, Borrowing Costs, read with AS 2, Valuation of Inventories, and those inventories are part of segment assets of a particular segment, such interest is considered as a segment expense. In this case, the amount of such interest and the fact that the segment result has been arrived at after considering such interest is disclosed by way of a note to the segment result. (c) Losses on sales of investments or losses on extinguishment of debt unless the operations of the segment are primarily of a financial nature;(d) Income tax expense; and(e) General administrative expenses, head-office expenses, and other expenses that arise at the enterprise level and relate to the enterprise as a whole. However, costs are sometimes incurred at the enterprise level on behalf of a segment. Such costs are part of segment expense if they relate to the operating activities of the segment and if they can be directly attributed or allocated to the segment on a reasonable basis. Segment result is segment revenue less segment expense. Segment assets are those operating assets that are employed by a segment in its operating activities and that either are directly attributable to the segment or can be allocated to the segment on a reasonable basis. If the segment result of a segment includes interest orDividend income, its segment assets include the related receivables, loans, investments, or other interest or dividend generating assets. Segment assets do not include income tax assets.Segment assets are determined after deducting related allowances/ provisions that are reported as direct offsets in the balance sheet of the enterprise. Segment liabilities are those operating liabilities that result from the operating activities of a segment and that either are directly attributable to the segment or can be allocated to the segment on a reasonable basis. If the segment result of a segment includes interest expense, itsSegment liabilities include the related interest-bearing liabilities. Segment liabilities do not include income tax liabilities. Segment accounting policies are the accounting policies adopted for preparing and presenting the financial statements of the enterprise as well as those accounting policies that relate specifically to as 17 The factors in paragraph 5 for identifying business segments and geographical segments are not listed in any particular order. A single business segment does not include products and services with significantly differing risks and returns. While there may be dissimilarities with respect to one or several of the factors listed in the definition of business segment, the products and services included in a single business segment are expected to be similar with respect to a majority of the factors. Similarly, a single geographical segment does not include operations in economic environments with significantly differing risks and returns. A geographical segment may be a single country, a group of two or more countries, or a region within a country. The risks and returns of an enterprise are influenced both by the geographical location of its operations (where its products are produced or where its service rendering activities are based) and also by the location of its customers (where its products are sold or services are rendered). The definition allows geographical segments to be based on either:(a) The location of production or service facilities and other assets ofAn enterprise; or(b) The location of its customers. The organizational and internal reporting structure of an enterprise will normally provide evidence of whether its dominant source of geographical risks results from the location of its assets (the origin of its sales) or the location of its customers (the destination of its sales). Accordingly, an enterprise looks to this structure to determine whether its geographicalSegments should be based on the location of its assets or on the location of its customers. Determining the composition of a business or geographical segment involves a certain amount of judgment. In making that judgment, enterprise management takes into account the objective of reporting financial information by segment as set forth in this Standard and the qualitative characteristics of financial statements as identified in the Framework for the Preparation and Presentation of Financial Statements issued by the Institute of Chartered Accountants of India. The qualitative characteristics include the relevance, reliability, and comparability over time Segment Reporting of financial information that is reported about the different groups of products and services of an enterprise and about its operations in particular geographical areas, and the usefulness of that information for assessing the risks and returns of the enterprise as a whole. The predominant sources of risks affect how most enterprises are organized and managed. Therefore, the organizational structure of an enterprise and its internal financial reporting system are normally the basis for identifying its segments. The definitions of segment revenue, segment expense, segment assets and segment liabilities include amounts of such items that are directly attributable to a segment and amounts of such items that can be allocated to a segment on a reasonable basis. An enterprise looks to its internal financial reporting system as the starting point for identifying those items that can be directly attributed, or reasonably allocated, to segments. There is thus a presumption that amounts that have been identified with segments for internal financial reporting purposes are directly attributable or reasonably allocable to segments for the purpose of measuring the segment revenue, segment In some cases, however, a revenue, expense, asset or liability may have been allocated to segments for internal financial reporting purposes on a basis that is understood by enterprise management but that could be deemed arbitrary in the perception of external users of financial statements. Such an allocation would not constitute a reasonable basis under the definitionsOf segment revenue, segment expense, segment assets, and segment liabilities in this Standard. Conversely, an enterprise may choose not to allocate some item of revenue, expense, asset or liability for internal financial reporting purposes, even though a reasonable basis for doing so exists. Such an item is allocated pursuant to the definitions of segment revenue, segment expense, segment assets, and segment liabilities in this Standard. Examples of segment assets include current assets that are used in the operating activities of the segment and tangible and intangible fixed assets. If a particular item of depreciation or amortization is included in segment expense, the related asset is also included in segment assets. Segment assets do not include assets used for general enterprise or head-office purposes.Segment assets include operating assets shared by two or more segments if a reasonable basis for allocation exists. Segment assets include goodwill that is directly attributable to a segment or that can be allocated to a segment AS 17. On a reasonable basis, and segment expense includes related amortization of goodwill. If segment assets have been revalued subsequent to acquisition,Then the measurement of segment assets reflects those revaluations. Examples of segment liabilities include trade and other payables, accrued liabilities, customer advances, product warranty provisions, and other claims relating to the provision of goods and services. Segment liabilities do not include borrowings and other liabilities that are incurred for financing rather than operating purposes. The liabilities of segments whose operations are not primarily of a financial nature doing not include borrowings and similar liabilities because segment result represents an operating, rather than a net-of-financing, profit or loss. Further, because debt is often issued at the head-office level on an enterprise-wide basis, it is often not possible to directly attribute, or reasonably allocate, the interest-bearing liabilities to segments. Segment revenue, segment expense, segment assets and segment liabilities are determined before intra-enterprise balances and intra-enterprise transactions are eliminated as part of the process of preparation of enterprise financial statements, except to the extent that such intra-enterprise balances and transactions are within a single segment. While the accounting policies used in preparing and presenting the financial statements of the enterprise as a whole are also the fundamental segment accounting policies, segment accounting policies include, in addition, policies that relate specifically to segment reporting, such asIdentification of segments, method of pricing inter-segment transfers, and basis for allocating revenues and expenses to segments.

OBJECTIVEThe objective of this Standard is to establish principles for reporting financial information, about the different types of products and services an enterprise produces and the different geographical areas in which it operates. Such information helps users of financial statements:(a) Better understand the performance of the enterprise;(b) Better assess the risks and returns of the enterprise; and(c) Make more informed judgments about the enterprise as a whole.Many enterprises provide groups of products and services or operate in geographical areas that are subject to differing rates of profitability, opportunities for growth, future prospects, and risks. Information about different types of products and services of an enterprise and its operationsIn different geographical areas - often called segment information - is relevant to assessing the risks and returns of a diversified or multi-locational enterprise but may not be determinable from the aggregated data. Therefore, reporting of segment information is widely regarded as necessary for meeting the needs of users of financial statements.

SCOPE

1. This Standard should be applied in presenting general purpose financial statements.238 AS 172. The requirements of this Standard are also applicable in case of consolidated financial statements.3. An enterprise should comply with the requirements of this Standard fully and not selectively.4. If a single financial report contains both consolidated financial statements and the separate financial statements of the parent, segment information need be presented only on the basis of the consolidated financial statements. In the context of reporting of segment informationIn consolidated financial statements, the references in this Standard to any financial statement items should construed to be the relevant item as appearing in the consolidated financial statements.

SEGMENT ACCOUNTING POLICIES Segment information should be prepared in conformity with the accounting policies adopted for preparing and presenting the financial statements of the enterprise as a whole. There is a presumption that the accounting policies that the directors and management of an enterprise have chosen to use in preparing the financial statements of the enterprise as a whole are those that the directors and management believe are the most appropriate for external reporting purposes. Since the purpose of segment information is to help users of financialStatements better understand and make more informed judgments about the enterprise as a whole, this Standard requires the use, in preparing segment information, of the accounting policies adopted for preparing and presenting the financial statements of the enterprise as a whole. That does not mean, however, that the enterprise accounting policies are to be applied to reportable segments as if the segments were separate stand-alone reporting entities. A detailed calculation done in applying a particular accounting policy at the enterprise-wide level may be allocated to segments if there is a reasonable basis for doing so. Pension calculations, for example, often are done for an enterprise as a whole, but the enterprise-wide figures may be allocated to segments based on salary and demographic data for the segments.This Standard does not prohibit the disclosure of additional segment information that is prepared on a basis other than the accounting policies AS 17 adopted for the enterprise financial statements provided that (a) the information is reported internally to the board of directors and the chief executive officer for purposes of making decisions about allocating resources to the segment and assessing its performance and (b) the basis of measurementFor this additional information is clearly described. Assets and liabilities that relate jointly to two or more segment should be allocated to segments if, and only if, their related revenues and expenses also are allocated to those segments. The way in which asset, liability, revenue, and expense items are allocated to segments depends on such factors as the nature of those items, the activities conducted by the segment, and the relative autonomy of that segment. It is not possible or appropriate to specify a single basis of allocation that should be adopted by all enterprises; nor is it appropriate to force allocation of enterprise asset, liability, revenue, and expense items that relate jointly to two or more segments, if the only basis for making those allocations is arbitrary. At the same time, the definitions of segment revenue, segment expense, segment assets, and segment liabilities are interrelated, and the resulting allocations should be consistent. Therefore, jointly used assets and liabilities areAllocated to segments if, and only if, their related revenues and expenses also are allocated to those segments. For example, an asset is included in segment assets if, and only if, the related depreciation or amortization is included in segment expense.

DICLOSURES IN SEGMENT REPORTINGTransparency is the cornerstone of corporate financial reporting. Analysts and other stakeholders need complete information to evaluate the sustainability and growth of a company and to monitor the performance of its management. Complete disclosure of information results in appropriate valuation of companies and thus improves the efficiency of the capital market.Theoretically, the risk for investment in equity of a company that discloses complete information is lower than that of investment in equity of a company that withholds information. Greater disclosure should therefore bring down the cost of capital for a firm. No one, including managers, dispute this. Yet, in practice, managers often seek to limit transparency as much as they can without violating the letter of the law.A case in point is the reporting of segment information. For long, accounting standards have sought to ensure that corporations that serve customers or have assets located in more than one country or carry out more than one business should report the financial performance of each separatelySince the performance of each business is likely to be affected by quite distinct factors, such disaggregated information would allow users of financial statements to more reliably predict the future prospects of the firm. The US GAAP mandated disclosure of segment information for the first time in 1976. Subsequently the rules have been modified in 1997.The new rules require greater disclosure of disaggregated information. In India, the requirement for the disclosure of segment information came in force from accounting periods commencing on or after April 1, 2001, in respect of publicly traded companies and also in respect of all other commercial, industrial and business reporting entities whose turnover for the accounting period exceeds Rs 50 crore.Accounting standards require companies to disclose segment revenue, segment expenses, segment results, segment assets and segment liabilities. In absence of a reasonable basis, common expenses and common assets and liabilities are not allocated to different segments. Accounting standards require companies to disclose information based on the internal management information system (MIS) that the CEO and the board of directors use to manage and oversee the strategy and operations of different segments. They do not require companies to redefine segments for external reporting. The objective is to allow investors to see the company through the eyes of the management. This also helps to predict management actions that can significantly affect future cash flows.Disclosure of segment information provides an insight into how business segments are creating or destroying value. It also helps to understand the strategy and risk exposure of the company. Companies are not required to provide information on all segments. A segment is a reportable segment if: its revenue from sales, including revenue from internal transfers, is 10 per cent or more of total revenue, external and internal, of all segments; its segment result, whether profit or loss, is 10 per cent or more of: the combined result of all segments in profit, or the combined result of all segments in loss, whichever is greater in absolute amount; or its segment assets are 10 per cent or more of the total assets of all segments. If total external revenue attributable to reportable segments constitutes less than 75 per cent of the total enterprise revenue, additional segments are identified as reportable segments, even if they do not meet the 10 per cent threshold tests, until at least 75 per cent of the total enterprise revenue is included in reportable segments.More often than not the efforts by regulatory bodies to ensure greater transparency through segment reporting have been thwarted by the actions of managers who have sought to evade accountability from stakeholders by limiting the amount of information provided in financial statements.In their defense, managers argue that disclosure of proprietary information adversely affects the entity's competitive advantage and thus adversely affects the interest of shareholders. If this is true then companies that operate in a single business segment cannot create sustainable competitive advantage. We can pick up large number of successful companies that are operating in a single segment. Maruti, Tata Steel, ACC, DLF, Tata Tea, Bhatia Televenture and Hero Honda are some of the companies which have maintained leadership position in their respective industries for a long periodWe may examine the issue from another angle. Does a company that discloses segment information actually lose in the competition? Many will agree that in India, Infosys Technologies Limited discloses disaggregated information about different business and geographical segments in which it operates in accordance with the spirit of the accounting rules for segment reporting. But it has been able to maintain a leadership position for quite a long period. Therefore, the argument put forward by managers is not tenable. Research in the US reveals that adoption of new rules stipulated in SFAS-131 has not hurt the competitive position of companies. However, it has improved external monitoring. Thus, disclosure of disaggregated information on different segments in which the company operates threatens the manager's job if the resource allocation between different segments is suboptimal or if the company pursues poor diversification strategy.In fact, managers have strong incentives to aggregate segment information to avoid external scrutiny by the market for corporate control. They want to avoid accountability. However, in some situations it is just the mindset of managers. Take the example of Tata Motors. Tata Motors, which manufactures both commercial vehicles and passenger cars, does not treat the passenger car business separately from the commercial vehicles business for the purpose of segment reporting. Rather, it lumps them together into a single automobile business. The Centre for Monitoring Indian Industries' (CMIE) company database PROWSS considers passenger car manufacturing and commercial vehicles manufacturing as two separate sub-groups of the automobile industry. These two industries do not exhibit similar long-term financial performance. It is also difficult to assume that the board of directors and CEO carry on their function of overseeing the strategy and the operation of the company effectively by looking only at aggregated information for passenger cars and commercial vehicles.Even if, for argument sake, we agree that it is debatable whether the two industries are different in terms of risk and return, perhaps Tata Motors would have done better to disclose the disaggregated information for the sake of investors and stakeholders who are interested to have the disaggregated information. The question of information overload does not arise because the company operates only in two business segments: manufacturing of passenger car and manufacturing of commercial vehicles. US GAAP indicates that the question of information overload begins when the number of segments goes beyond ten. It is hard to believe that managers of Tata Motors, which belongs to the highly respected Tata Group, are reluctant to submit their decisions to the scrutiny by the capital market.In view of the managers' inherent reluctance to disclose information that strengthens external monitoring, the board of directors, particularly the audit committee of the board, should assume the responsibility of deciding what is to be disclosed and how much is to be disclosed. The board should strengthen the external monitoring by inducing managers to disclose all relevant information voluntarily and to implement accounting rules in spirit.This, in turn, will strengthen monitoring by the board of directors. The auditor has to play an important role in ensuring this. For example, the auditor is privy to the board records and the internal MIS and therefore she is in the best position to assess the adequacy or otherwise of the disclosure of segment information in external financial report. It would be really unfortunate if she instead uses her expertise to justify the inadequate disclosure by the company.

ADVANTAGES OF SEGMENT REPORTING Highlights performance of the various parts of an organisation Enables users of financial statements to be better able to predict the future profitability of an organisation, particularly where segments are involved in diverse activities

DISADVANTAGES OF SEGMENT REPORTING Will lead to some costs being imposed on an organisation management less likely to take business risks in particular segments if each segments results available competitors will have access to information concerning segment profitability may also provide encouragement for further entrants into the industry Risk of takeover bids if losses made in particular segments and other parties consider that they can manage the particular segment more effectively.

CHIEF OPERATING DECISION MAKERAs we now know, an operating segment is a component of an entity about which separate financial information is available and which is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The term chief operating decision maker identifies a function, not necessarily a manager with a specific title. That function is to allocate resources to and assess the performance of the operating segments of an entity. Often the chief operating decision maker of an entity is its chief executive officer or chief operating officer but, for example, it may be a group of executive directors or others. The focus of the chief operating decision maker (whether an individual or a group of individuals) therefore dictates which components of an entity are deemed to be operating segments for the purposes of AASB 8.

INTER-FIRM COMPARABILITY Allowing management to determine what components of their operation will constitute operating segments leads to concerns about comparing the results of operating segments of different organisations operating across similar industries However, the standard setters decided that the increased relevance of the information outweighs this concern pertaining to comparability.

QUANTITATIVE THRESHOLDS FOR DISCLOSING OPERATING SEGMENTSAn entity shall report separately information about an operating segment that meets any of the following quantitative thresholds:(a) Its reported revenue, including both sales to external customers and inter-segment sales or transfers, is 10 per cent or more of the combined revenue, internal and external, of all operating segments;(b) the absolute amount of its reported profit or loss is 10 per cent or more of the greater, in absolute amount, of (i) the combined reported profit of all operating segments that did not report a loss and (ii) the combined reported loss of all operating segments that reported a loss;(c) Its assets are 10 per cent or more of the combined assets of all operating segments.Operating segments that do not meet any of the quantitative thresholds may be considered reportable, and separately disclosed, if management believes that information about the segment would be useful to users of the financial statements.

APPLICATION IN CORPORATE SECTORTATA GROUPTata Group is an Indian Multinational conglomerate company headquartered in Mumbai, Maharashtra, India. It encompasses seven business sectors: communications and information technology, engineering, materials, services, energy, consumer products and chemicals. Tata Group was founded in 1868 by Jamsetji Tata as a trading company. It has operations in more than 80 countries across six continents. Tata Group has over 100 operating companies with each of them operating independently. Out of them 32 are publicly listed. The major Tata companies are Tata Steel, Tata Motors, Tata Consultancy Services (TCS), Tata Power, Tata Chemicals, Tata Global Beverages, Tata Teleservices, Titan Industries, Tata Communications and Taj Hotels. The combined market capitalization of all the 32 listed Tata companies was INR 8.4 Trillion ($141.27 billion) as of July 2014. Tata receives more than 58% of its revenue from outside India. Products : Airline, Automotive, steel, IT, Electricity generation, Chemicals, Beverages, Telecom, Hospitality, Retail, Consumer goods, Engineering, Construction, Financial services.Founded: 1868.Slogan: "Improving the quality of life of the communities we serve".This section lists the Tata companies and details their business and products:Chemicals Tata Chemicals Rallis India Tata Pigments Limited General Chemical Industrial Products Brunner Mond Advinus Therapeutics Magadi Soda CompanyConsumer products Tata Salt I-shakti Casa Dcor Tata Swach Tata Global Beverages Tata Tea Limited is the world's second largest manufacturer of packaged tea and tea products. Tata Starbucks, is a 50:50 joint venture company, owned by Starbucks Corporation and Tata Global Beverages Eight O'Clock Coffee Tetley Tata Coffee Himalayan, Mount Everest Mineral Waters natural mineral water brand Tata Ceramics Infiniti Retail (Crom) Tata Industries Titan Industries Trent (Westside) Landmark Bookstores Tata Sky Crossword Voltas, consumer electronics company Tata International Ltd. Tanishq Fastrack, Largest & Trendiest Youth Fashion Brand in India Titan Eye+, World class Optical Stores from Titan Industries Tata Refractories WestlandEnergy Tata Power is one of the largest private sector power companies. Tata Power Solar, a joint venture between Tata Power and BP Solar Hooghly Met Coke and Power Company Jamshedpur Utilities and Services Company Tata Power Delhi Distribution Ltd (Formerly Known as North Delhi Power Ltd) Powerlinks Transmission Tata Power Trading Tata ProjectsEngineering TAL Manufacturing Solutions Tata AutoComp Systems Limited (TACO) Hispano Carrocera Tata Motors, manufacturer of commercial vehicles (largest in India) and passenger cars Jaguar Land Rover (Manager of Tata's British brands Jaguar cars and Land Rover) Tata Daewoo Commercial Vehicle Tata Projects Tata Technologies Limited Tata Marcopolo Tata Consulting Engineers Limited Tata Cummins Telco Construction Equipment TRF Voltas Global Engineering Centre Tata Advanced Materials Tata Advanced Systems Tata Motors European Technical Centre Tata Petrodyne Tata Precision Industries Telcon Construction EquipmentInformation systems and communications Computational Research Laboratories INCAT Nelco Nelito Systems Tata Business Support Services Tata Consultancy Services Ltd. (TCS) is one of the world's largest IT Services companies. Tata Elxsi Neotel Tata Interactive Systems Tata Teleservices Tata Teleservices (Maharashtra) Virgin Mobile India Tata Communications CMC Limited VSNL International Canada Tatanet, Managed connectivity and VSAT service providerServices Tata Sons TajAir AirAsia India Air Asia India joint venture with Air Asia The Indian Hotels Company Taj Hotels Vivanta By Taj The Gateway Hotels & Resorts Ginger Hotels Roots Corporation Tata Housing Development Company Ltd. (THDC) Tata Limited TATA AIG General Insurance TATA AIA Life Insurance e-Nxt Financials ltd. TKM Global, Logistics and Supply Chain Tata AG Tata Asset Management Tata Financial Services Tata Capital Financial Services Limited Tata International AG Tata Investment Corporation Tata Advanced Systems Limited Drive India Enterprise Solutions Mjunction services Tata Quality Management Services Tata Realty and Infrastructure Limited Tata Interactive Systems Tata Africa Holdings Tata AutoComp Systems Tata Industrial Services Tata NYK Tata Services Tata Strategic Management GroupSteel Tata Steel Tata Steel Europe Tata Steel KZN Tata Steel Processing and Distribution JAMIPOL NatSteel Holdings Tata BlueScope Steel Tata Metaliks Tata Sponge Iron Tayo Rolls The Tinplate Company of India Tata Bearings TM International LogisticsCore sciences Tata Institute of Fundamental Research Tata Institute of Social Sciences

The above are the various products in which the TATA group deals.The above mentioned list are the examples of the segment reporting i.e., the company deals with lots of different products and in that the segment reporting reflect.

RELIANCE GROUPReliance Anil Dhirubhai Ambani Group (now referred as Reliance Group and legally Anil Dhirubhai Ambani Ventures Limited) is an Indian conglomerate, headquartered in Navi Mumbai, India. The company, which was formed after Amanas business empire was divided up, is headed by his younger son Anil Ambani. It has a market capitalization of 890 billion (US$14billion) and net assets worth 1800 billion (US$28billion). The Reliance Group has a business presence that extends to over 20,000 towns and 450,000 villages in India, and around the globe.The shareholder base is over 12 million, among the largest in the world. The group is present in many business sectors across India including technology, financial services, construction, entertainment, media, real estate, energy, health care, manufacturing, aviation, natural resources, food and beverages, hospitality, transportation and logistics.Products : technology, financial services, construction, entertainment, media, real estate, energy, health care, manufacturing, aviation, natural resources, food and beverages, hospitality, transportation, logistics, BPO.Founded: 1966Slogan: "Think Bigger, Think Better".This section lists the Reliance companies and details their business and products: Communications Reliance Globalcom Reliance Ingrate Vance Reliance World Reliance Globalcall Reliance Icall Reliance Digicom Reliance BPO Capital Reliance Life Insurance Reliance General Insurance Reliance Venture Reliance Mutual Fund Reliance Money Reliance Securities Reliance Commercial Finance Reliance Venture Capitalist Reliance Asset Reconstruction Reliance PMS ICEX Stock exchange Reliance Entertainment

Movies and television DreamWorks SKG Studios (Co-Partnership) Reliance Pictures Reliance Media Works Ltd (formerly Adlabs) Reliance Media World (formerly Lowry Digital) Reliance Synergy Reliance Animation BIGFlix Movies on rent BIG Cinemas BIG Music & Video Reliance Home Video Reliance ND Studio RMW StudioBroadcasting BIG FM 92.7 Radio stations operating in more than 50 cities. Reliance Broadcasting (RBNL) Reliance Digicom Reliance Digital TV BIG TV DTH service Imagine Showbiz BIG MagicBIG CBS channels Big CBS Prime Big CBS Spark Big CBS LoveGaming Zapak Codemasters Jump GamesInternet BIGADDA.com social networking site BIGOYE.com The Plot Blog BIG Cinemas Zapak.comOthers BIG Street BIG Maps BIG Live BIG Digital BIG Reach BIG Events CONCLUSIONI have studied and analyzed the whole project,ACCOUNTING STANDARD 17: ITS APPLICATION IN CORPORATE SECTOR. From the study of the project I hereby conclude that the AS-17 the SEGMENT REPORTING is been explained in detail. And its application in Corporate Sector With reference to examples is been studied and put-on in the project.