- This topic has 3 replies, 2 voices, and was last updated 3 years ago by
.
Viewing 4 posts - 1 through 4 (of 4 total)
- Posts
1.What is the for the double entry for the employees who left BEFORE the final closure and also AFTER the final closure?
Are these below correct?
Before: Termination benefits?
Dr PL (Past service cost)
Cr LiabilityAfter: Short term employees benefits?
Dr PL (Current service cost)
Cr Liability2.Do we need to account for the employees who leave after the reporting date in the current year financial statements?
1. Perfect. Key thing is that both are expenses in P&L not losses in OCI.
2. Yes – for their share of the basic (past SC) benefit. BUT – No – for the current SC benefit – which will accrue as they continue to work for the company.
Viewing 4 posts - 1 through 4 (of 4 total)
- The topic ‘IAS 19 – Termination benefits’ is closed to new replies.