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International Accounting Standards (IAS)
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| U.S. GAAP | IFRS, IAS | Accounting Topics |
International Accounting Standard (IAS) 19
Employee Benefits
International Financial
Reporting Standards (IFRS) |
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International Accounting
Standards (IAS) |
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U.S. GAAP by Topic |
| International Accounting Standard (IAS) 19 |
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IAS 19 Employee
Benefits IAS 19
first issued in January 1983 IAS 19,
Employee Benefits, issued in February 1998 Recent amendment: by IAS 1
revised in September 2007 |
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Employee benefits: (1) Short-term employee benefits (2) Post-employment benefits (3) Other long-term employee benefits (4) Termination benefits |
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Post-employment benefits (1) Retirement benefits: pensions (2) Other post-employment benefits: life insurance, medical care |
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Post-employment benefit plans (1) Defined contribution plans (2) Defined benefit plans |
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Defined contribution plans (1) obligation --> amounts to be contributed to the plan |
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Defined benefit liability --> Liability in the statement of financial position --> Defined benefit liability = (1) - (2) (1) present value of defined benefit obligation (2) fair value of plan assets |
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Costs to be recognized in
profit or loss --> net total of the following: (1) current service cost (2) interest cost (3) expected return on plan assets (4) actuarial gains and losses (5) past service cost |
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Actuarial gains and
losses --> a portion of actuarial gains and losses is --> recognized as income or expense --> if (1) > (2) (1) net cumulative unrecognised actuarial gains and losses at the end of the previous reporting period (2) the greater of (2a) and (2b) (2a) 10% of present value of defined benefit obligation (2b) 10% of fair value of plan assets |
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Actuarial gains and
losses --> amount to be recognized as income or expense = (3) / (4) (3) = (1) - (2) (4) = expected average remaining working lives of participating employees |
