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    Amendments

    Uploaded by

    Sarah Jane Señido
    The document summarizes amendments to IAS 19 regarding accounting for plan amendments, curtailments and settlements for defined benefit plans. The amendments require using updated assumptions after remeasurement to determine current service costs and net interest, and recognizing reductions to surplus from amendments as past service costs or settlement gains/losses. The changes take effect for plan amendments on or after January 1, 2019.

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    Amendments

    Uploaded by

    Sarah Jane Señido
    7 views8 pages
    The document summarizes amendments to IAS 19 regarding accounting for plan amendments, curtailments and settlements for defined benefit plans. The amendments require using updated assumptions after remeasurement to determine current service costs and net interest, and recognizing reductions to surplus from amendments as past service costs or settlement gains/losses. The changes take effect for plan amendments on or after January 1, 2019.

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    amendments

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    The document summarizes amendments to IAS 19 regarding accounting for plan amendments, curtailments and settlements for defined benefit plans. The amendments require using updated assumptions after remeasurement to determine current service costs and net interest, and recognizing reductions to surplus from amendments as past service costs or settlement gains/losses. The changes take effect for plan amendments on or after January 1, 2019.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    7 views8 pages

    Amendments

    Uploaded by

    Sarah Jane Señido
    The document summarizes amendments to IAS 19 regarding accounting for plan amendments, curtailments and settlements for defined benefit plans. The amendments require using updated assumptions after remeasurement to determine current service costs and net interest, and recognizing reductions to surplus from amendments as past service costs or settlement gains/losses. The changes take effect for plan amendments on or after January 1, 2019.

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    You are on page 1of 8

    Amendment to PAS 19 - Employee

    Benefits- Plan Amendment,


    Curtailment or Settlement
    Presentation
    By Sarah Jane Señido
    In brief
    A look at current financial
    reporting issues
    Issue

    on February 1, 2018 the IASB issued


    amendments to guidance in IAS 19,
    “Employee Benefits”, in connection with
    accounting for plan amendments,
    curtailment and settlements.
    The Amendment require an
    Entity :
    to use updated assumption to determine current
    bservice cost and net interest for the remainder of
    the period after a plan amendment, curtailmentor
    settlement ; and
    to recognise in profit or loss as part of past service
    cost, or a gain or loss on settlement , any reduction
    in surplus, even if that surplus was not previously
    recognised beacuse of the impact of the asset
    ceiling.
    Impact of Amendment PAS 19

    Changes in the terms or Current service cost and net A plam Amendment, curtailmet or
    membership of defined benefit plan interest are usually calculated settlemet might reduce or eliminate
    might in plan amendments or using assumptions determined at a surplus, which could change the
    curtailment or settlemet. beginning of the period. effect of the asset ceiling.
    Changes of PAS 19 Amendments
    The amendments in Plan Amendments, Curtailment or Settlemet
    ( Amendmend to IAS 19 ) are:

    If a plan amendments, curtailment or In addition, amendments have been


    settlement occurs, it is now mandatory that the
    included to clarify the effect of plan
    current service cost and the net interest for the
    amendment, curtailment or settlement
    period after the remeasurement are determined
    using the assumptions used for the on the requirements regarding the asset
    remeasurement. ceiling.
    Who is affected???

    The amendments will affect any entity


    that changes the term or the membership
    of a defined benefit plan such that there
    is past service cost or a gain or loss
    settlement.
    JANUARY 1, 2019

    An entity shall apply


    amendments to plan
    amendments, curtairlments or
    settlemet occuring on after the
    beginning of the first annual
    reporting period that begins on
    or after January 1, 2019. Earl
    application is permitted but
    must be disclosed.
    Thank You!
    for your Listening!

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