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When i read a examiners comment i saw that the 10% corridor approach to recognise actuarial gain was removed in the new IAS and no recycle to profit or loss from other components of equity.Is it true?, and any other change in this chapter?
In employee benefits,can u explain the meaning of Asset Ceiling and its purpose and accounting treatment?
In group accounting there are two methods of recognising the difference form the transaction of foreign subsidiary,one is transfer the translation difference of investment to retained earnings and other method is create a separate area in equity for the translation difference of subsidiary result.I am confused which method is used in practical situation and which method should i prefer in exam hall?
The course notes, available free from this site, are up to date with reference to the new changes including the disappearance of the corridor AND the asset ceiling.
Re the translation issue, I have no idea which method is followed in practice (it was never a problem faced by any of my clients) and you can rest assured that whatever you do in the exam will be acceptable. There’s no one way preferred over the other
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