International Accounting Standard IAS 33: earnings per share

Article Abstract:

International Accounting Standard (IAS) 33, 'Earnings Per Share' prescribes principles for accounting and reporting of earnings per share. It seeks to facilitate the comparison of performance among various companies within the same accounting period, and among various periods for the same organization. The standard places great importance on the denominator of the earnings per share ratio because of its ability to improve financial reporting. Companies covered by IAS 33 are required to provide information on the numerators used in computing for the basic and diluted earnings per share, and on the weighted average number of ordinary shares used as the denominator. The standard takes effective for financial reports that cover accounting periods starting on or after Jan. 1, 1998. Adoption before the effective date is recommended.

Earnings per share

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FRED 10: revision of FRS 1 'Cash Flow Statements.' (Financial Reporting Exposure Draft; Financial Reporting Standard)(Accounting Standards Board)

Article Abstract:

Financial Reporting Exposure Draft (FRED) No. 10 was developed based on public comments on Financial Reporting Standard (FRS) No. 1 'Cash Flow Statements.' The Draft requires reporting entities to comply with the draft FRS in the preparation of the their cash flow statement. This statement should therefore classify its cash flows for the covered period under such standard headings as capital expenditure, operating activities, taxation, dividends paid, financing and management of liquid resources. FRED 10 recommends that all cash flows are reported strictly on a cash basis to make cash generation and absorption more transparent. It also proposes the creation of a new section for cash flows generated by liquid resources operations.

Accounting and auditing, Cash flow

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