f7 acca earning per share (net profit and extraordiniary item)

Hi, yes, earnings is AFTER accounting for any extraordinary items (Do extraordinary items still exist in the UK? They disappeared from international some time ago?

I think the criteria for what constitutes an extraordinary item was tightened to such degree that the Accounting Standards Board indicated that they did not anticipate extraordinary items appearance in profit and losses after the tightening of the definition of what could be classified as an extraordinary item.

As I recall the definition, it didn't even exclude such unusual events as meteors striking the production plant!

Yes, I think because according to the definition a meteor strike could be said to be a known possibility.It would have to be something beyond imagination.They took an extraordinary approach to extraordinary items!

Wasn't there something in the definition about "location" and then, thinking logically, any unusual event that happened to affect the company directly (storm, flood, lightning strike, tsunami, WTC, and on and on and on) was an event that had affected the company because of its location and was therefore not extraordinary. No worries, they no longer exist - at least, not in international accounting