IAS 19 Employee Benefits

International Accounting Standard 19

Overview of IAS 19

  • Issued: in 1983; re-issued in 1998 and 2011, followed by amendments
  • Effective date: 1 January 2013
  • What it does:
    • it classifies employee benefits into 4 main categories::
      1. Short-term employee benefits;
      2. Post-employment benefits;
      3. Other long-term employee benefits;
      4. Termination benefits.
    • It prescribesthe accounting treatment and presentation of separately for each category.
    • It further classifies post-employment benefits into two categories:
      1. Defined benefit plans;
      2. Defined contribution plans.
    • For certain categories, IAS 19 establishes rules for application of various actuarial assumptions; it explains how to recognize and measure present value of defined benefit obligation, current service cost, past service cost and items in profit or loss. It also deals with plan assets, curtailments and settlements, presentation and disclosures.

Articles about IAS 19

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