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IAS 19 BPP course note pg 60

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IAS 19 BPP course note pg 60

  • This topic has 3 replies, 2 voices, and was last updated 9 years ago by MikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • August 11, 2015 at 11:44 pm #266814
    curlene
    Member
    • Topics: 2
    • Replies: 3
    • ☆

    Hi,

    Do you have a copy of a BPP course notes. If yes can I get some assistance with the question in the subject matter above. I’m really confused.

    August 12, 2015 at 7:04 am #266827
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23316
    • ☆☆☆☆☆

    Hi

    No, I don’t have BPP course notes. In fact, I don’t have any BPP material at all!

    See if you can summarise the problem and then get back to me

    August 18, 2015 at 11:11 pm #267696
    curlene
    Member
    • Topics: 2
    • Replies: 3
    • ☆

    Question

    The salaried employees of an entity are entitled to 20days paid leave each year. the entitlement accrues evvenly over the year and unused leave may be carried forward for one year. The holiday year is the same as the financial year. At 31 Dec 20X4, the entity had 2200 salaried emlpoyees and the average unused holiday entitlement was 4days per employee. Approximately 6% of employees leave without taking their entitlement and there is no cash payment when an employee leaves in respect of holiday entitlement. There re 255 working days in the year and the total annual salary cost is $42M. No adjustment has been made in the FS for the above and there was no opening accrual required for holiday entitlement.

    Required: Discuss with suitable computations, how the leave that may be carried forward is treated in the FS for the year ended 31.12.20X4.

    August 19, 2015 at 8:24 am #267722
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23316
    • ☆☆☆☆☆

    4 x 2,200 x 94% x 42m / 255

    Days x Employees x Employees remaining x Annual cost / working days in a year

    Without a calculator, my mental arithmetic tells me that that’s an amount of $136,245

    Dr Employee costs in statement of profit or loss $136,245
    Cr Current liabilities $136,245

    Ok?

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    Posts
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