Opening ASB shot

Article Abstract:

The Accounting Standards Board's (ASB) newly issued Financial Reporting Standard 3 (FRS3) discourages the use of earnings per share as the single measure of company performance in financial reports. FRS3, entitled 'Reporting Financial Performance,' requires companies to distinguish between figures pertaining to continuing operations, acquisitions and discontinued operations in their reports. The new standard also mandates the disclosure of exceptional items under appropriate statutory format headings. Although most of the objections to FRS3 have already been addressed during the standard's final drafting, there are still those who doubt its usefulness. ASB member Robert Bradfield, for one, feels that the standard will not be able to satisfy the needs of financial report users.

Accounting Standards Board, Financial statements, Corporation reports, Company reports

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The institutional investor and labour resource information

Article Abstract:

A study by Accountants Magazine reveals that all the 20 investment analysts and fund managers interviewed for the survey sometimes use labor resource information to make investment decisions especially when the information pertains to industrial unrest. The information is not gathered on a routine basis to be included in the normal investment decision-making process, however. The study suggests that labor resources information usage may increase to help investors improve earnings predictions.

Research, Management, Economic aspects, Accounting, Labor relations, Institutional investments, Great Britain, The Accountant's Magazine (Periodical)

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