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<h1>Guidelines for Segment Reporting Under AS 17 Enhance Financial Transparency and Understanding of Enterprise Performance</h1> Accounting Standard (AS) 17 on Segment Reporting establishes guidelines for presenting financial information related to different products, services, and geographical areas of an enterprise. It is not mandatory for small and medium-sized companies but is encouraged. The standard aims to enhance users' understanding of an enterprise's performance, risks, and returns by requiring segment information in financial statements. It defines business and geographical segments, reportable segments, and outlines the criteria for identifying them. The standard mandates full compliance and sets forth disclosure requirements for primary and secondary segments, including segment revenue, expenses, assets, and liabilities, without arbitrary allocations.