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EARNINGS PER SHARE
Shares
Weighted average number of shares
• IAS 33 defines weighted average number of shares
as "the number of ordinary shares outstanding at
the beginning of the period, adjusted by the number
of ordinary shares bought back or issued during the
period multiplied by a time-weighting factor".
• "Shares outstanding" is equivalent to "shares
issued"
• The time weighting factor is the number of days that the
specific shares are outstanding as a proportion of the
total number of days in the period.
• A reasonable approximation of the weighted average is
adequate in many circumstances.
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