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    Pas 26

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    Anne
    This document discusses the accounting standards for retirement benefit plans under PAS 26. PAS 26 applies to financial statements prepared by retirement benefit plans, such as those prepared by a trustee, and complements the standards employers follow under PAS 19. For defined contribution plans, the financial statements include a statement of net assets available for benefits and a statement of changes in net assets. For defined benefit plans, the financial statements show the net assets available for benefits and either the present value of promised retirement benefits or a reference to this information in an accompanying actuarial report.

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    Pas 26

    Uploaded by

    Anne
    103 views2 pages
    This document discusses the accounting standards for retirement benefit plans under PAS 26. PAS 26 applies to financial statements prepared by retirement benefit plans, such as those prepared by a trustee, and complements the standards employers follow under PAS 19. For defined contribution plans, the financial statements include a statement of net assets available for benefits and a statement of changes in net assets. For defined benefit plans, the financial statements show the net assets available for benefits and either the present value of promised retirement benefits or a reference to this information in an accompanying actuarial report.

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    pas 26

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    This document discusses the accounting standards for retirement benefit plans under PAS 26. PAS 26 applies to financial statements prepared by retirement benefit plans, such as those prepared by a trustee, and complements the standards employers follow under PAS 19. For defined contribution plans, the financial statements include a statement of net assets available for benefits and a statement of changes in net assets. For defined benefit plans, the financial statements show the net assets available for benefits and either the present value of promised retirement benefits or a reference to this information in an accompanying actuarial report.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    103 views2 pages

    Pas 26

    Uploaded by

    Anne
    This document discusses the accounting standards for retirement benefit plans under PAS 26. PAS 26 applies to financial statements prepared by retirement benefit plans, such as those prepared by a trustee, and complements the standards employers follow under PAS 19. For defined contribution plans, the financial statements include a statement of net assets available for benefits and a statement of changes in net assets. For defined benefit plans, the financial statements show the net assets available for benefits and either the present value of promised retirement benefits or a reference to this information in an accompanying actuarial report.

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    28/04/2022

    CONCEPTUAL FRAMEWORK
    &
    ACCOUNTING STANDARDS

    PAS 26 Accounting and Reporting by


    Retirement Benefit Plans

    Learning Objectives
    • State the applicability of PAS 26.
    • Describe the accounting and reporting requirements of PAS
    26.

    Conceptual Framework & Acctg. Standards (by: Zeus Vernon B. Millan) 2

    Applicability

    PAS 19 PAS 26
     Applied by an employer  Applied by, for example, a
    in (among others) trustee, when preparing
    determining the cost of the financial
    providing retirement statements of a
    benefits. retirement benefit
    plan. PAS 26
    complements PAS 19.

    Conceptual Framework & Acctg.


    3
    Standards (by: Zeus Vernon B. Millan)

    1
    28/04/2022

    Financial Statements of a Defined Contribution


    Plan

    • a statement of net assets available for benefits;


    • a statement of changes in net assets available for
    benefits; and
    • accompanying notes to the financial statements

    Conceptual Framework & Acctg.


    4
    Standards (by: Zeus Vernon B. Millan)

    Financial Statements of a Defined Benefit Plan


    1. a statement that shows:
    a. the net assets available for benefits;
    b. the actuarial present value of promised retirement benefits,
    distinguishing between vested benefits and non-vested benefits;
    and
    c. the resulting excess or deficit (PAS 26.17)
    or
    2. a statement of net assets available for benefits including either:
    a. a note disclosing the actuarial present value of promised retirement
    benefits, distinguishing between vested benefits and non-vested
    benefits; or
    b. a reference to this information in an accompanying actuarial
    report. (PAS 26.17)

    • A statement of changes in net assets available for benefits and


    accompanying notes are provided in both (1) and (2) above.
    Conceptual Framework & Acctg.
    5
    Standards (by: Zeus Vernon B. Millan)

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