What Is Your EPS? Issues in Computing and Interpreting Earnings Per Share

J. Jewell, J. Mankin
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引用次数: 3

Abstract

This paper examines several problematic issues in the presentation of information related to earnings per share (EPS) that are common to college textbooks and popular investment websites. U.S. generally accepted accounting principles (GAAP) require disclosure of EPS for all publicly listed firms. In fact, EPS is the only financial ratio required by GAAP and it is the only financial ratio with a formula specified by GAAP. Despite these facts, many college textbooks and investment websites present incorrect formulas for the computation of EPS. Furthermore, many textbooks and investment websites either explicitly or implicitly encourage students and investors to interpret EPS incorrectly. This paper discusses these issues and contrasts proper EPS computation and interpretation with the most common errors in computation and interpretation.
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你的每股收益是多少?计算和解释每股收益的问题
本文探讨了在大学教科书和热门投资网站中常见的与每股收益(EPS)相关的信息呈现中的几个问题。美国公认会计准则(GAAP)要求所有上市公司披露每股收益。事实上,每股收益是GAAP要求的唯一财务比率,也是GAAP规定公式的唯一财务比率。尽管如此,许多大学教科书和投资网站给出了不正确的每股收益计算公式。此外,许多教科书和投资网站或明或暗地鼓励学生和投资者错误地解读每股收益。本文讨论了这些问题,并将合理的EPS计算和解释与计算和解释中最常见的错误进行了比较。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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