Benefits for the professional, not for the punter

Article Abstract:

Investment professionals are now just realizing the benefits of FRS 3 titled 'Reporting Financial Performance.' FRS 3 prohibits extraordinary items and requires that earnings per share be computed after exceptionals, and that extraordinaries will cause volatile headline performance numbers. However, despite its effect of headline numbers, FRS has resulted in the reevaluation of terms such as earnings per share and price earnings multiple. FRS 3 have forced analysts to develop and use their own earnings definitions so long as earnings reconcile with FRS 3 earnings. Although analysts may now find it more complicated to assess information, they should realize that they are already evaluating the maintainable earnings base of companies to develop accurate forecasts. The FRS 3 merely requires more comprehensive analysis of information and analysts should view this as an opportunity to perform better assessments.

United Kingdom

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It's time to take action

Article Abstract:

A PricewaterhouseCoopers survey has revealed that 76% of chief financial officers are in favour of European Commission plans to make International Accounting Standards a requirement for listed company group accounts.

European Union. European Commission

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