IAS 33 is an International Accounting Standard that provides guidance on the calculation, presentation, and disclosure of earnings per share (EPS) to ensure consistency and comparability across companies and industries. EPS is an important metric that investors use to evaluate a company's financial performance and profitability on a per-share basis.

Under IAS 33, companies are required to calculate both basic EPS and diluted EPS. Basic EPS is calculated by dividing the net profit or loss attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. Diluted EPS takes into account the potential dilution of earnings per share that may result from the issuance of additional shares or securities.

IAS 33 applies to all entities that have publicly traded shares or that are in the process of issuing public shares. The standard requires the disclosure of EPS information in the financial statements of such entities and sets out detailed requirements for calculating and disclosing EPS, including the adjustment of EPS calculations for certain events and the disclosure of the assumptions and methods used.

Overall, the objective of IAS 33 is to provide a clear and comprehensive set of guidelines for companies to follow when calculating and disclosing EPS in their financial statements, which can help ensure accurate and transparent financial reporting and support informed decision-making by investors and other stakeholders.

ALSO,

Diluted earnings comprise the profit or loss attributable to ordinary equity holders of the parent entity and (if presented) profit or loss from continuing operations attributable to those equity holders, adjusted for the effects of all dilutive potential ordinary shares.

Diluted earnings consist of the basic earnings adjusted for after-tax effects of the following items associated with dilutive potential ordinary shares:

a. Dividends or other items

b. Interest for the period

c. Other changes in income or expense that would result from a conversion of shares (for example, the savings on interest related to these shares can lead to an increase in the expense relating to a no discretionary employee profit sharing plan).