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    Ias 26

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    For defined contribution plans, the financial statements shall include a statement of net assets available for benefits and describe the funding policy. For defined benefit plans, the statements shall include either: (1) a statement showing net assets, actuarial present value of promised retirement benefits distinguishing between vested and non-vested benefits, and any excess or deficit; or (2) a statement of net assets including a note or reference to an actuarial report disclosing the

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    Ias 26

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    For defined contribution plans, the financial statements shall include a statement of net assets available for benefits and describe the funding policy. For defined benefit plans, the statements shall include either: (1) a statement showing net assets, actuarial present value of promised retirement benefits distinguishing between vested and non-vested benefits, and any excess or deficit; or (2) a statement of net assets including a note or reference to an actuarial report disclosing the

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    For defined contribution plans, the financial statements shall include a statement of net assets available for benefits and describe the funding policy. For defined benefit plans, the statements shall include either: (1) a statement showing net assets, actuarial present value of promised retirement benefits distinguishing between vested and non-vested benefits, and any excess or deficit; or (2) a statement of net assets including a note or reference to an actuarial report disclosing the

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    100 views2 pages

    Ias 26

    Uploaded by

    Foititika.net
    For defined contribution plans, the financial statements shall include a statement of net assets available for benefits and describe the funding policy. For defined benefit plans, the statements shall include either: (1) a statement showing net assets, actuarial present value of promised retirement benefits distinguishing between vested and non-vested benefits, and any excess or deficit; or (2) a statement of net assets including a note or reference to an actuarial report disclosing the

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    Technical Summary

    This extract has been prepared by IASC Foundation staff and has not been approved by the IASB.
    For the requirements reference must be made to International Financial Reporting Standards.

    IAS 26 Accounting and Reporting by


    Retirement Benefit Plans
    This Standard shall be applied in the financial statements of retirement benefit plans
    where such financial statements are prepared.

    Retirement benefit plans are arrangements whereby an entity provides benefits for
    employees on or after termination of service (either in the form of an annual income
    or as a lump sum) when such benefits, or the contributions towards them, can be
    determined or estimated in advance of retirement from the provisions of a document
    or from the entity's practices.

    The financial statements of a defined contribution plan shall contain a statement of net
    assets available for benefits and a description of the funding policy.

    The financial statements of a defined benefit plan shall contain either:


    (a) a statement that shows:
    (i) the net assets available for benefits;
    (ii) the actuarial present value of promised retirement benefits, distinguishing
    between vested benefits and non-vested benefits; and
    (iii)the resulting excess or deficit; or
    (b) a statement of net assets available for benefits including either:
    (i) a note disclosing the actuarial present value of promised retirement benefits,
    distinguishing between vested benefits and non-vested benefits; or
    (ii) a reference to this information in an accompanying actuarial report.
    If an actuarial valuation has not been prepared at the date of the financial statements,
    the most recent valuation shall be used as a base and the date of the valuation
    disclosed. [Paragraph 17]

    For the purposes of paragraph 17, the actuarial present value of promised retirement
    benefits shall be based on the benefits promised under the terms of the plan on service
    rendered to date using either current salary levels or projected salary levels with
    disclosure of the basis used. The effect of any changes in actuarial assumptions that
    have had a significant effect on the actuarial present value of promised retirement
    benefits shall also be disclosed.

    The financial statements shall explain the relationship between the actuarial present
    value of promised retirement benefits and the net assets available for benefits, and the
    policy for the funding of promised benefits.

    Retirement benefit plan investments shall be carried at fair value. In the case of
    marketable securities fair value is market value. Where plan investments are held for
    which an estimate of fair value is not possible disclosure shall be made of the reason
    why fair value is not used.
    The financial statements of a retirement benefit plan, whether defined benefit or
    defined contribution, shall also contain the following information:
    (a) a statement of changes in net assets available for benefits;
    (b) a summary of significant accounting policies; and
    (c) a description of the plan and the effect of any changes in the plan during the
    period.

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