Transitional liability recognition: enterprises may elect immediate reserve adjustment or phased expense recognition, with limits on actuarial gain recognition. Amendments to AS 15 require consideration of any unrecognised transitional liability when accounting for subsequent actuarial gains, clarify that curtailment or settlement gains or losses include a proportionate share of previously unrecognised past service cost and transitional amounts determined by present value of obligations before and after the event, and provide that where the transitional liability exceeds the pre-revised liability an enterprise must irrevocably choose immediate adjustment to opening reserves or phased expense recognition with specified disclosure, recognition limits on actuarial gains, and inclusion of unrecognised transitional parts in subsequent settlement or curtailment calculations.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Transitional liability recognition: enterprises may elect immediate reserve adjustment or phased expense recognition, with limits on actuarial gain recognition.
Amendments to AS 15 require consideration of any unrecognised transitional liability when accounting for subsequent actuarial gains, clarify that curtailment or settlement gains or losses include a proportionate share of previously unrecognised past service cost and transitional amounts determined by present value of obligations before and after the event, and provide that where the transitional liability exceeds the pre-revised liability an enterprise must irrevocably choose immediate adjustment to opening reserves or phased expense recognition with specified disclosure, recognition limits on actuarial gains, and inclusion of unrecognised transitional parts in subsequent settlement or curtailment calculations.
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