Exposure Draft 1240-100—Earnings per Share

The FASB is issuing this proposed Statement as part of a joint project with the International Accounting Standards Board (IASB). The FASB and the IASB undertook that project to eliminate differences between FASB Statement No. 128, Earnings per Share, and IAS 33, Earnings per Share, in ways that also would clarify and simplify the earnings per share (EPS) computation. This proposed Statement proposes amendments to Statement 128. The IASB also issued an Exposure Draft proposing amendments to IAS 33. Those proposed amendments, taken together, would improve the comparability of EPS because the denominator used to compute EPS under Statement 128 would be the same as the denominator used to compute EPS under IAS 33, with limited exceptions. Those limited exceptions relate to certain instruments for which the underlying accounting under U.S. generally accepted accounting principles (GAAP) and international financial reporting standards (IFRS) is different.

For more information, see the following:

Issued: August 7, 2008

Comment Deadline: December 5, 2008

The Exposure Draft identifies the Codification Subsections that may be added upon issuance of this guidance.

• 260-10-10-1
• 260-10-45-1
• 260-10-60-1
• 260-10-55-1
• 505-30-55-1
• 710-10-25-1
• 710-10-35-1
• 710-10-45-1
• 718-40-45-1
• 810-10-15-1
• 940-20-50-1
• 940-320-30-1
• 940-320-35-1
• 940-320-45-1