AS 15 - 216 Accounting Standard (AS) 15 (revised 2005)...

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Unformatted text preview: 216 Accounting Standard (AS) 15 (revised 2005) Employee Benefits Contents OBJECTIVE SCOPE Paragraphs 1-6 DEFINITIONS 7 SHORT-TERM EMPLOYEE BENEFITS 8-23 Recognition and Measurement 10-22 All Short-term Employee Benefits 10 Short-term Compensated Absences 11-16 Profit-sharing and Bonus Plans 17-22 Disclosure 23 POST-EMPLOYMENT BENEFITS: DEFINED CONTRIBUTION PLANS AND DEFINED BENEFIT PLANS 24-43 Multi-employer Plans 29-36 State Plans 37-39 Insured Benefits 40-43 POST-EMPLOYMENT BENEFITS: DEFINED CONTRIBUTION PLANS 44-48 Recognition and Measurement 45-46 217 Disclosure 47-48 POST-EMPLOYMENT BENEFITS: DEFINED BENEFIT PLANS 49-126 Recognition and Measurement 50-63 Accounting for the Obligation under a Defined Benefit Plan 53-54 Balance Sheet 55-60 Statement of Profit and Loss 61-62 Illustrative Example 63 Recognition and Measurement: Present Value of Defined Benefit Obligations and Current Service Cost 64-99 Actuarial Valuation Method 65-67 Attributing Benefit to Periods of Service 68-72 Actuarial Assumptions 73-77 Actuarial Assumptions: Discount Rate 78-82 Actuarial Assumptions: Salaries, Benefits and Medical Costs 83-91 Actuarial Gains and Losses 92-93 Past Service Cost 94-99 Recognition and Measurement: Plan Assets 100-109 Fair Value of Plan Assets 100-102 Reimbursements 103-106 Return on Plan Assets 107-109 Curtailments and Settlements 110-116 Presentation 117-118 218 Offset 117 Financial Components of Post-employment Benefit Costs 118 Disclosure 119-126 Illustrative Disclosures 126 OTHER LONG-TERM EMPLOYEE BENEFITS 127-132 Recognition and Measurement 129-131 Disclosure 132 TERMINATION BENEFITS 133-142 Recognition 134-138 Measurement 139 Disclosure 140-142 TRANSITIONAL PROVISIONS 143-146 Employee Benefits other than Defined Benefit Plans and Termination Benefits 143 Defined Benefit Plans 144-145 Termination Benefits 146 APPENDICES A. Illustrative Example B. Illustrative Disclosures C. Comparison with IAS 19, Employee Benefits Employee Benefits 219 Accounting Standard (AS) 15* (revised 2005) Employee Benefits (This Accounting Standard includes paragraphs set in bold italic type and plain type, which have equal authority. Paragraphs in bold italic type indicate the main principles. This Accounting Standard should be read in the context of its objective and the Preface to the Statements of Accounting Standards 1 .) Accounting Standard (AS) 15, Employee Benefits (revised 2005), issued by the Council of the Institute of Chartered Accountants of India, comes into effect in respect of accounting periods commencing on or after April 1, 2006 and is mandatory in nature 2 from that date: (a) in its entirety, for the enterprises which fall in any one or more of the following categories, at any time during the accounting period: (i) Enterprises whose equity or debt securities are listed whether in India or outside India....
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This note was uploaded on 12/07/2011 for the course MBA 0001 taught by Professor Akshat during the Spring '09 term at Institute of Management Technology.

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AS 15 - 216 Accounting Standard (AS) 15 (revised 2005)...

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