Connect with us

What is New On IAS 19 (Employee Benefits) Amendment Version



IAS 19 Employee BenefitsThe IASB just issued amended version of IAS 19 (Employee Benefits) after some analysis conducted by IASB, according to press release published by the International Accounting Standard Board. As it has been announced since the beginning, this project aimed to improve accounting for pensions and other post-employment benefits.

The amendment is the result of a MOU between the IASB and the Financial Accounting Standards Board (FASB) to work towards further aligning the standards from the accounting rule makers.


One key phrase on the amendment is the “corridor method” which is believed as it brings the U.S. GAAP closer to those of IASB (IFRS).

Here are some of the major changes (among others) in the amendments:

  • Elimination of an option to defer the recognition of gains and losses, known as the “corridor method,” to improve comparability and faithfulness of presentation.
  • Streamlining of the presentation of changes in assets and liabilities arising from defined benefit plans, including requiring re-measurements to be presented in other comprehensive income, thereby separating those changes from changes that many perceive to be the result of an entity’s day-to-day operations.
  • Enhancement of the disclosure requirements for defined benefit plans, providing better information about the characteristics of defined benefit plans and the risks that entities are exposed to through participation in those plans.

The IAS 19 (Employee Benefits) Amendment Version  is effective for financial years beginning on or after January 1, 2013.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Are you looking for easy accounting tutorial? Established since 2007, hosts more than 1300 articles (still growing), and has helped millions accounting student, teacher, junior accountants and small business owners, worldwide.


Related pages

cogs formula manufacturingfifo process costingvehicle depreciation calculatorthe budgeting cycleoverdraft accountingowners equity definition in accountingvouching auditdeferred tax expense calculationaccounting prepaid rentwip formulaincome statement equation approachsample of bank reconciliation statementdifference between periodic and perpetualduality principle in accountingaccounting enterprise softwareaccounting process flowchart examplesdepreciation of tenant improvementsjournal entry for deferred revenue expenditurepurpose of a flexible budgetequipment capitalization ruleshow to compute dividendsassertions in accountingcash flow from financing activities formulabep sales formulaaffirmative covenantsdouble entry prepaymentmaterial price variance formulais unearned revenue an assetassertion audit definitionsample general ledger accountsdegree of operating leverage definitionjournal entry for depreciation of equipmentpromissory note loan templatecarrying value of goodwillfixed asset definition gaapbudgeted accounts receivablejob ordering costingdeferred tax singaporewhat is a good contribution marginaccounting for intangiblesdirect and indirect methods of cash flowjournal entry for dividendswhat is weighted average contribution marginunrealized gain or loss on balance sheetoverapplied overhead journal entryintangible assets under development meaningwhat is the first step in the accounting cycledefine adjusting entriesmanufacturing accounting basicsroyalties definition accountingias18accounts receivable process flow chartprocess costing fifocapitalisation of assetspromissory note guaranteemost common depreciation methodjournal entry depreciation expenseaccounting principles conservatismcpa exam review materialslong term marketable securitiesunder a perpetual inventory systemschedule of cost of goods manufactured exampleifrs accounting for income taxessop 93-7qualitative methods of demand forecasting2014 cpa score releasepik interest accountingdifferent types of accounting conventionsfasb asc 820 fair value measurements and disclosuresthe capitalization of interest cost during constructiondeferred tax singaporecost of ending inventoryaccrued income journalbill and hold transactions revenue recognitionindirect materials examplesgst tax creditflotation cost calculatorjournal entry for bad debts recovered