Custom Search


Sunday, January 9, 2011

Reporting Financial Performance

The main abuse of SSAP related to the treatment of extraordinary items, particularly redundancy, reorganization and restructuring costs. Any such costs classified as extraordinary were excluded from the earnings per share number under SSAP/.

The treatment of extraordinary items was thus often “EPS-driven”.

Main charges

The main charges introduced by financial reporting standards include:

  • Presentation in the profit and loss account
Items such as turnover, cost of sales, gross profit, operating expenses and operating profit are to be analyzed between, continue operations, discontinuing operations and exceptional items.

  • Presentation and measurement of profit on disposal of fixed assets
This is particularly important for companies who incorporate fixed asset revaluations into the accounts.

  • Treatment of extraordinary items
  • Additional statements and notes
Statement of total recognized gains and losses, note of historical cost profits and losses, reconciliation of movement in shareholders’ funds.

  • A change in the definition of earnings per share.
Earnings per share will in future be based on earnings after taking account of extraordinary items if they exist in the future.

  • Implementation

The accounting standard burrow encourages companies to adopt financial reporting standard at the earliest opportunity.

Split between continuing and discontinuing operations

Financial reporting standards set out detailed criteria to be followed in deciding whether particular business disposals and terminations are to be regarded as “discontinued”. The standard also specifics the extent to which provisions can be set up in the balance sheet relating to the year prior to discontinuance.

This area of the standard is particularly complex and will apply mostly to large quoted groups which are regularly involved in acquisitions, disposals and business closures. As this part of financial reporting standards are concerned particularly with consolidated accounts.


Nice post, things explained in details. Thank You.

William Stinner said...

Thank you for bringing more information to this topic for me. I’m truly grateful and really impressed. Please visit

Uhlenbrock CPA said...

Uhlenbrock CPA provides complete accounting solutions for businesses in San Antonio. Uhlenbrock CPA provides bookkeeping services, payroll management, tax preparation services and many more. Our corporate tax preparation in San Antonio has benefited several small business concerns in San Antonio. To get assistance, call 210-701-1040.

very informative post for me as I am always looking for new content that can help me and my knowledge grow better.

Blogging is the new poetry. I find it wonderful and amazing in many ways.

I certainly agree to some points that you have discussed on this post. I appreciate that you have shared some reliable tips on this review.

Hey keep posting such good and meaningful articles.

aliyaa said...

This is particularly important for companies who incorporate fixed asset revaluations into the accounts.

Nina Athena said...

Thank you for sharing such valuable and helpful information and knowledge. This can give us more insights! Keep it up. I would love to see your next update.

Small business Accountant Melbourne

Jon Sigurdsson said...

Thanks for the post!

Small Business Accounting

William Hurt said...

It is a very informative and useful post thanks it is good material to read this post increases my knowledge. Test Banks

Blogger said...

eToro is the ultimate forex trading platform for rookie and full-time traders.

Nice & Informative Blog !
QuickBooks is an accounting software that has rapidly captured the global market,QuickBooks Error 136 while working on this software. To get rid of such problems, call us at 1-855-977-7463 and get immediate support for QuickBooks issues.

DigitalMarketer said...

Hey! Good blog. I was facing an error in my QuickBooks software, so I called QuickBooks Support (855)756-1077. I was tended to by an experienced and friendly technician who helped me to get rid of that annoying issue in the least possible time.

AnnaSereno said...

Great work. You have done an excellent job. Thank you for sharing such a knowledgeable piece of work. In case you are struggling with QuickBooks Error 15106 at any point in time, call +1-855-756-1077 and get instant assistance from experts.

Phoebe Geller said...

Hey! Well-written blog. It is the best thing that I have read on the internet today. Moreover, if you are looking for the solution of QuickBooks Customer Service, visit at QuickBooks Customer Service to get your issues resolved quickly.

Nice article, keep writing such blogs case if you face any issue, using QuickBooks, CallQuickBooks customer service and call on number 1-855-756-1077.

Rachel Ross said...

Thanks for sharing such useful information with us. I hope you will share some more info about your blog. Please keep sharing. We will also provide QuickBooks Customer Service Number for instant help.

Emily Green said...

Hey! Excellent work. Being a QuickBooks user, if you are struggling with any issue, then dial QuickBooks Customer Service Number. Our team at QuickBooks will provide you with the best technical solutions for QuickBooks problems.

Post a Comment

About Me

My Photo
Management Consultant.
Financial management and business management specialist.
View my complete profile


WELCOME ALL.....................................................,

If you have any problems regarding accounting please comment in this site and let we know SURELLY WE ANSWERED...................................,