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Employee Benefits (Pas 19R) PDF

This document discusses accounting for employee benefits under PAS 19R. It covers the objective and scope of PAS 19R, which is to prescribe accounting and disclosure requirements for all forms of consideration given by an entity in exchange for employee services. The key principles are that the cost of benefits should be recognized when the employee earns the benefit, rather than when paid. PAS 19R applies to various short-term benefits like salaries and paid time off, as well as long-term benefits like pensions, post-employment benefits, and termination benefits.

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734 views

Employee Benefits (Pas 19R) PDF

This document discusses accounting for employee benefits under PAS 19R. It covers the objective and scope of PAS 19R, which is to prescribe accounting and disclosure requirements for all forms of consideration given by an entity in exchange for employee services. The key principles are that the cost of benefits should be recognized when the employee earns the benefit, rather than when paid. PAS 19R applies to various short-term benefits like salaries and paid time off, as well as long-term benefits like pensions, post-employment benefits, and termination benefits.

Uploaded by

Ron Gumapac
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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EMPLOYEE BENEFITS (PAS 19R)

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ISSUES IN ACCOUNTING FOR EMPLOYEE BENEFITS:


1. Objective and scope of PAS 19R
2. Definition and classification of employee benefits
3. Accounting for short-term employee benefits
4. Accounting for post-employment benefits
5. Accounting for other long-term benefits
6. Accounting for termination benefits
7. Disclosures

OBJECTIVE AND SCOPE OF PAS 19 (amended):

IAS 19 was issued in February 1998 and is applicable to annual periods beginning
on or after 1 January 1999, with a revised IAS 19 issued in June 2011 being
applicable to annual periods beginning on or after 1 January 2013.

The objective of PAS 19 is to prescribe the accounting and disclosure for employee
benefits - that is, all forms of consideration given by an entity in exchange for
service rendered by employees. The principle underlying all of the detailed
requirements of the standard is that the cost of providing employee benefits should
be recognized in the period in which the benefit is earned by the employee, rather
than when it is paid or payable.

PAS 19 applies to (among others):


1. Salaries and Wages;
2. Compensated absences (paid vacation and sick leave);
3. Profit sharing plans;
4. Bonuses;
5. Medical and life insurance benefits during employment;
6. Housing benefits;
7. Free or subsidised goods or services given to employees;
8. Pension benefits;
9. Post-employment medical and life insurance benefits;
10. Long-service or sabbatical leave;
11. Jubilee benefits;
12. Deferred compensation programmes; and
13. Termination benefits.

Employee Benefits (PAS 19) 2 Page 1

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