02. MODULE 13 IAS 19 Employee benefits CN .pdf - CACC021 –...

1 CACC021 – COURSE NOTES
MODULE 13: IAS 19 – EMPLOYEE BENEFITS
CONTENT
1. PURPOSE
2. OBJECTIVES / OUTCOMES FOR THE MODULE
3. PRE-LECTURE PREP: LEARN BEFORE LECTURE (LBL) ASSIGNMENT
4. SECTIONS IN TEXTBOOK EXCLUDED FROM 2 ND YEAR SCOPE
5. CHAPTER SUMMARY
6. PRESENTATION AND DISCLOSURE
7. LECTURE SLIDES
1. PURPOSE
The objective of IAS 19 is to prescribe the recognition, measurement and disclosure requirements of
employee benefits. The standard deals with employee benefits from the viewpoint of the employer.
2. OBJECTIVES / OUTCOMES FOR THE MODULE
After you have studied this module, you should be able to do the following:
 Understand and apply the accounting terminology related to employee benefits in practical
situations.
 Define and discuss the different categories of employee benefits.
 Apply the recognition and measurement principles and account for the different categories of
employee benefits (with the focus on short term employee benefits).
 Understand the difference between defined contribution plans and defined benefit plans.
 Present and disclose employee benefits in the annual financial statements of an entity.
3. PRE-LECTURE PREP: LEARN BEFORE LECTURE (LBL) ASSIGNMENT
WHAT?
Prescribed textbook: Financial Accounting IFRS Principle (5 th Edition)
Relevant chapter in prescribed textbook: Chapter 22 – Employee benefits
Any additional notes included in these course notes
HOW?
Within 24 hours before lecture, it is vital to preview the material that will be covered in the lecture. This
step rarely takes longer than 30 minutes, especially once you’re familiar with how to properly preview
information.
In order to prepare for the lecture on IAS 19 Employee benefits you are required to:
 Read the title and the chapter’s evaluation criteria (Chapter 22 of your prescribed textbook –
Financial Accounting IFRS Principles). Skipping the title and chapter objectives can be
detrimental. It is nearly impossible to process information when you have no central theme to
apply it to.
 Read the chapter summary (text book and additional course notes). This summary combined with
the information on the title page can act as a movie preview, creating interest and providing a bit
of familiarity with the concepts.