Employee Benefits (IAS 19/AASB 119)

Corporate Reporting Insights

BDO's monthly newsletter, Corporate Reporting Insights, keeps you up to date with the latest Australian and global developments in corporate financial and sustainability reporting.

• Corporate bond rates for long service leave calculations available for purchase from the G100 (December 2022)
• What the six recent interest rate increases mean for your 31 December 2022 financial statements (October 2022)
• High Court decisions regarding classification of employees and contractors could affect employee benefit provisions (February 2022)
• Should portable long service leave provisions be recognised on a gross or net basis? (December 2021)​
• High Court’s ruling may mean reversals of employee leave provisions for casual employees​ (August 2021)
• Accounting for portable long service leave in the community services sector​ (May 2021)
• Have you provided for ‘double dipping’ on casual entitlements in 30 June 2020 financial statements? (Aug 2020)
• Accounting for remuneration underpayments – AASB issues Staff FAQ (August 2020)
• Change your discount rate for employee benefit provisions and defined benefit obligations at 30 June 2015 (May 2015).

BDO Global IFRS Resources

The following publications have been produced by the BDO Global IFRS group:

► IFRS at a Glance

A high level overview of International Financial Reporting Standards (IFRSs), including International Accounting Standards and Interpretations.

• IAS 19 Employee Benefits
• IFRIC 14 IAS 19 – The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction.

IFRIC agenda decisions

IFRS Interpretations Committee (the Committee) agenda decisions are those issues that the Committee decided not to take onto its agenda. Although not authoritative guidance, in practice they are regarded as being highly persuasive, and all entities reporting under IFRS should be aware of these decisions because they could impact the way particular transactions and balances are accounted for. Agenda decisions on this topic include:

Online training resources

Improve your knowledge of accounting standards by purchasing our online training resources on a variety of financial reporting topics. Resources available on this topic include:

• eLearning – a self-paced interactive web-based eLearning module that provides an in-depth understanding of the key aspects of the accounting standard and requires participants to read and answer questions relating to the content.