RSS feedsAn earnings per share figure will always be sought by analysts, despite standard-setters proposals to revamp the reporting of corporate income.
The UK Society of Investment Professionals said in a letter to the Financial Times today: 'Whatever the standards-setters do, an earnings per share figure that attempts to reflect the operating performance of a company will always be sought by analysts and, indeed, newspapers and other publishers of financial data.'
The row over changes to earnings figures has been prompted by a letter from the Corporate Reporting Users' Forum insisting that existing earnings numbers be retained.
IASB and FASB figures have suggested different structures in recent months encompassing a wider range of balance sheet movements than those reported in earnings currently. A discussion paper is due to come out next year.
Edward Beale, of compliance outsourcer City Group, backed the standards-setters in a separate letter to the FT: 'While earnings is a very useful measure and comparability of such figures is important, the International Accounting Standards Board and the Financial Accounting Standards Board should be encouraged to bring forward proposals facilitating a more holistic analysis of corporate performance.'
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