IFRS Proposed Earnings per Share Changes

IFRS Simplifying Earnings per share

Today the IASB released a 104 page Exposure Draft on Earnings per Share – proposed amendments to IAS 33. Comments are due by December 5, 2008.

The intent is also to eliminate differences between the methods required by International Financial Reporting Standards (IFRSs) and US accounting standards in calculating EPS.

The Exposure Draft can be found at
http://www.iasb.org/NR/rdonlyres/B7DA045C-F0EF-4D3B-9DF3-19C8E1C3A002/0/EDIAS33.pdf

The Press Release from the IASB can be found at
http://www.iasb.org/NR/rdonlyres/E36A5BAF-FE5D-4948-901C-404ACF609FEB/0/PREDEPS.pdf

The Canadian Accounting Standards Board referred to the coming of this document in its Exposure draft “Adopting IFRSs in Canada” as follows
The IASB is considering amendments to IAS 33 to maintain convergence with the equivalent US standard, Statement of Financial Accounting Standards No. 128, “Earnings per Share,” which the FASB is amending. The AcSB expects to incorporate amended IAS 33 into Canadian GAAP in 2009, and to have it take effect in 2010.