The issued share capital of Savoir, a publicly listed company, at 31 March 2003 was $10 million. Its sharesare denominated at 25 cents each. Savoir’s earnings attributable to its ordinary hareholders for the year ended 31 March 2003 were also $10 million, giving an earnings per share of 25 cents.Year ended 31 March 2004 On 1 July 2003 Savoir issued eight million ordinary shares at full market value. On 1 January 2004 a bonus issue of one new ordinary share for every four ordinary shares held was made. Earnings attributable to ordinary shareholders for the year ended 31 March 2004 were $13,800,000. Required: Calculate Savoir’s earnings per share for the years ended 31 March 2004 including comparative figures. Savoir – EPS year ended 31 March 2004: The issue on 1 July 2003 at full market value needs to be weighted: 40m x 3/12 = 10m New shares 8m 48m x 9/12 = 36m 46m Without the bonus issue this would give an EPS of 30c ($13·8m/46m x 100). The bonus issue of one for four would result in 12 million new shares giving a total number of ordinary shares of 60 million. The dilutive effect of the bonus issue would reduce the EPS to 24c (30c x 48m/60m).
这里请问BONUS ISSUE的计算是不是都视同会计年度的第1天发生？为什么不是这么算：13.8m/(46m+12m*3/12)=28c? The comparative EPS (for 2003) would be restated at 20c (25c x 48m/60m).
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发表于 2007-9-14 12:11
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