IAS 19 Employee Benefits Flashcards
1
Q
Define
A
Defined contribution scheme recognises annal cost of pension scheme
2
Q
Net interest component (2)
A
- Apply discount rate to net obligation @ start of year
- Includes increase in plan assets due to passage of time
3
Q
Service cost (3)
A
- Current year
- Previous year
- Gains/losses on leavers and settlement of service costs
4
Q
Remeasurement component (3)
A
- Taken to OCI in the year
- actuarial gains/losses
- income and gains/losses
5
Q
Other (2)
A
- Short term benefits (wages etc.) on accrual basis
- Termination benefits - recognise when commitment to make the payments.
