The Saudi Organization for Certified Public Accountants (SOCPA) released a draft paper for new standard entitled “Earning Per Share”. This standard outlines the calculation and present requirements of Earning Per Share (EPS) in the financial statement. The draft paper is available for review on SOCPA website. SOCPA also approved modifying paragraphs 112 and 113 of the Revenue standard. The new modifications are considered effective starting February 6, 2007

SOCPA is professional organization established under Royal Decree. It operates under the supervision of the Ministry of Commerce in order to promote the accounting and auditing profession and all matters that leads to the development of the profession.

For more information please visit the following website: www.socpa.org.sa