IAS 19 is changing significantly but the changes are w.e.f. 2013. ACCA always adopts the policy of incorporating before time, so which IAS 19 is applicable for June 2012?
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SBRChanges in IAS 19
wat are the changes? can i get the document in pdf?
ie the corridor approach is not aplicable any more
thanx josvill..can i get the document anywhere?
14y ago#4kindly attach through pdf file the changes
Well search the INTERNET for the updates from the big 4 audit firms, they usually publish the changes the accounting standards.
14y ago#6HEY friends i found that lecture notes of ias19(chapter 7) are updated according to the changes in standard but video of lecture is not according to the change.is it right? i saw the video of example 3 and 4 of chapter 7 plzz help me if here is any updated video of ias 19
Highlights from the changes for defined benefit plan
accounting include:
• Actuarial gains and losses are now required to be recognised in other comprehensive income (OCI) and excluded permanently from profit and loss.
• Expected returns on plan assets will no longer be recognised in profit or loss. Expected returns are replaced by recording interest income in profit or loss, which is calculated using the discount rate used to measure the pension obligation.
• Unvested past service costs can no longer be deferred and recognised over the future vesting period. Instead, all past service costs will be recognised at the earlier of when the amendment/ curtailment occurs or when the entity recognises related restructuring or termination costs.
• These revisions are effective for annual periods beginning on or after 1 January 2013, retrospectively, with very few exceptions. Early application is permitted.
accounting include:
• Actuarial gains and losses are now required to be recognised in other comprehensive income (OCI) and excluded permanently from profit and loss.
• Expected returns on plan assets will no longer be recognised in profit or loss. Expected returns are replaced by recording interest income in profit or loss, which is calculated using the discount rate used to measure the pension obligation.
• Unvested past service costs can no longer be deferred and recognised over the future vesting period. Instead, all past service costs will be recognised at the earlier of when the amendment/ curtailment occurs or when the entity recognises related restructuring or termination costs.
• These revisions are effective for annual periods beginning on or after 1 January 2013, retrospectively, with very few exceptions. Early application is permitted.
hi - what is the imapct of the changes on the 2012 exams? will this change the way to answer questions on pensions or is this just a current issue ?
• Expected returns on plan assets will no longer be recognised in profit or loss. Expected returns are replaced by recording interest income in profit or loss, which is calculated using the discount rate used to measure the pension obligation.
Can anyone explain this to me? Does it means that the interest income on planned asset is equal to the interest paid on PV of obligation? So the planned asset,initially, is discounted back at the discount rate, right?
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