TaxTMI 
TaxTMI 
Dear All,
Want to know the above concept and on what basis the entries for the above are passed based on the Actuarial Valuation Certtificate. Will appreciate, if explained with Illustrations.
Thanks
Actuarial Valuation-AS 15
07 Jun 2012 
4 Replies 
20668 Views Asked by
Actuarial valuation required for employee benefit obligations, producing recognised liability and expense under accounting standards.
Actuarial valuations must be prepared by a qualified actuary to measure employee benefit obligations, producing a liability for the balance sheet and an expense for the profit and loss account. Applicable schemes include gratuity, leave benefits, pension schemes with guaranteed returns, exempt provident funds, long service awards, bonus and profit sharing arrangements. Funded-scheme insurer certificates are acceptable if signed by a qualified actuary. Contributions to insurers do not replace actuarial measurement; valuation requires projecting future benefits and discounting to present value, with disclosures in annual accounts. (AI Summary)
Actuarial valuations must be prepared by a qualified actuary to measure employee benefit obligations, producing a liability for the balance sheet and an expense for the profit and loss account. Applicable schemes include gratuity, leave benefits, pension schemes with guaranteed returns, exempt provident funds, long service awards, bonus and profit sharing arrangements. Funded-scheme insurer certificates are acceptable if signed by a qualified actuary. Contributions to insurers do not replace actuarial measurement; valuation requires projecting future benefits and discounting to present value, with disclosures in annual accounts. (AI Summary)