Transitional liability recognition: irrevocable choice to adjust reserves or amortise increase, with limits on actuarial gain recognition. Amendments to AS 15 require that unrecognised parts of transitional liability be considered when accounting for subsequent actuarial gains; curtailment or settlement gains or losses must include a proportionate share of previously unrecognised past service cost and transitional amounts determined by change in present value of obligations; and where transitional liability exceeds previously recognised liability an irrevocable choice must be made to adjust opening reserves immediately or amortise the increase over up to five years, with specified disclosure, measurement limits and caps on recognition of subsequent actuarial gains.
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: irrevocable choice to adjust reserves or amortise increase, with limits on actuarial gain recognition.
Amendments to AS 15 require that unrecognised parts of transitional liability be considered when accounting for subsequent actuarial gains; curtailment or settlement gains or losses must include a proportionate share of previously unrecognised past service cost and transitional amounts determined by change in present value of obligations; and where transitional liability exceeds previously recognised liability an irrevocable choice must be made to adjust opening reserves immediately or amortise the increase over up to five years, with specified disclosure, measurement limits and caps on recognition of subsequent actuarial gains.
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