Employee Benefits: Pension Assets and IAS 19

In this article, we’ll take a quick look over pension assets for under IAS 19 Employee Benefits.

When a company contributes money into a pension fund, the money is invested in shares, bonds and other investments. These are the plan’s assets.

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Segment Reporting: Identifying Operating Segments for IFRS 8

Operating Segment Identification

One of the first things an entity must do under IFRS 8 is to identify an operating segment.

Under IFRS 8 an operating segment is a component of an entity:

  • that engages in business activities from which it earns revenues and incurs expenses
  • whose operating results are regularly reviewed by the entity’s chief operating decision-maker to make decisions about resources to be allocated to the segment and assess its performance, and
  • for which discrete financial information is available.

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Segment Reporting for IFRS 8

Segment reporting provides financial information about the individual units of the company. It’s intended to give information to users of the financial statements regarding the financial performance and position of the most important operating units of a company.

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Four Things About Employee Benefits You Should Know for IAS 19

What you need to know for IAS 19 Employee Benefits

  1. Accounting treatment of short term and long term employee benefits
  2. Accounting treatment of pension plans (defined contribution and defined benefit)
  3. How to account for gains and losses on settlements and curtailments
  4. How to account for the “Asset Ceiling” test and the reporting of actuarial gains and losses.

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