JSE
GEN
GEN - Exposure Draft On Revised Headline Earnings Circular
EXPOSURE DRAFT ON REVISED HEADLINE EARNINGS CIRCULAR
The current Circular 7/2002 - Headline Earnings is outdated owing to the many
revisions in International Financial Reporting Standards and the increased use
of fair value in accounting standards.
The JSE Limited, together with SAICA have embarked on a process to update the
formula for Headline Earnings.
ED 220 - Proposed Circular on Headline Earnings, has been issued for a 3 month
comment period.
The issuing of this exposure draft follows the results of the research survey
conducted earlier this year and many deliberations with various user groups,
including listed companies, key fund managers, analysts, financial institutions,
the international sub-committee who are adopting the same formula for use in the
UK and SAICA`s Accounting Practices Committee.
Once comments have been considered, the draft circular will be revised, if
necessary, and issued.
Comments should be sent by 12 March 2007
The exposure draft can be found on the SAICA website.
The link is: https://www.saica.co.za/documents/ED220.PDF.
Date: 24/01/2007 10:44:01 Produced by the JSE SENS Department.
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