Here is a list of the key differences between basic EPS and diluted EPS, and why it is important to understand these differences under IAS 33:

1. Basic EPS: Basic earnings per share (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. Basic EPS assumes that there are no potential dilutive securities that could potentially dilute EPS.
2. Diluted EPS: Diluted EPS is calculated by adjusting the weighted average number of ordinary shares outstanding for the potential dilution that could result from the conversion of potentially dilutive securities into ordinary shares. Potentially dilutive securities include stock options, convertible bonds, warrants, and other securities that could potentially dilute EPS if they are exercised or converted into ordinary shares.
3. Impact on EPS: Diluted EPS is typically lower than basic EPS because it takes into account the potential dilutive effect of securities that could be converted into ordinary shares. This means that if there are any potential dilutive securities outstanding, diluted EPS will be lower than basic EPS.
4. Importance of understanding the differences: It is important to understand the differences between basic EPS and diluted EPS because they provide different measures of a company's earnings per share. Basic EPS provides a conservative estimate of earnings per share because it does not take into account the potential dilutive effect of securities that could be converted into ordinary shares. Diluted EPS provides a more accurate measure of earnings per share because it takes into account the potential dilution of earnings that could result from the conversion of potentially dilutive securities.
5. Disclosure requirements: Under IAS 33, companies are required to disclose both basic EPS and diluted EPS in their financial statements. Companies must also disclose the assumptions and methods used to calculate diluted EPS, including the treatment of potential dilutive securities and any other adjustments made. This information is important for investors and other stakeholders who are evaluating a company's financial performance and profitability on a per-share basis.

Overall, understanding the differences between basic EPS and diluted EPS is important for companies, investors, and other stakeholders who are evaluating a company's financial performance and profitability on a per-share basis. Diluted EPS provides a more accurate measure of earnings per share that takes into account the potential dilutive effect of securities that could be converted into ordinary shares, and companies must disclose both basic EPS and diluted EPS in their financial statements under IAS 33.