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Plan Amendment, Curtailment or Settlement (Amendments to Ind AS 19, Employee Benefits)
June, 13th 2018
                                             ED/Ind AS/2018/04

                Exposure Draft


     Plan Amendment, Curtailment or
                Settlement
(Amendments to Ind AS 19, Employee Benefits)




     (Last date for Comments: 11th July, 2018)




                     Issued by
            Accounting Standards Board
  The Institute of Chartered Accountants of India




                         1
                                  Exposure Draft
                      Plan Amendment, Curtailment or Settlement
                     (Amendments to Ind AS 19, Employee Benefits)

Following is the Exposure Draft of the Amendments to Ind AS 19, Employee benefits, issued
by the Accounting Standards Board of the Institute of Chartered Accountants of India for
comments.

The Board invites comments on any aspect of this Exposure Draft. Comments are most helpful
if they contain a clear rationale and, where applicable, provide suggestions for alternative
wording.

Comments can be submitted using one of the following methods, so as to be received not later
than 11th July, 2018.

1. Electronically: Click on http://www.icai.org/comments/asb/ to submit comments online.
                   (Preferred method)
2. Email:          Comments can be sent to commentsasb@icai.in
3. Postal:         Secretary, Accounting Standards Board, The Institute of Chartered
                   Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg,
                   New Delhi ­ 110 002.

Further clarifications on any aspect of this Exposure Draft may be sought by e-mail to
asb@icai.in.









                                             2
Amendments to Ind AS 19, Employee Benefits

Paragraphs 101A, 122A, 123A and 179 are added and paragraphs 57, 99, 120, 123, 125, 126
and 156 are amended. A heading is added before paragraph 122A. New text is underlined
and deleted text is struck through.

Post-employment benefits: defined benefit plans

       ...

       Recognition and measurement

        ...

57     Accounting by an entity for defined benefit plans involves the following steps:

        ...

       (c)    determining amounts to be recognised in profit or loss:

               (i)   current service cost (see paragraphs 70­74 and paragraph 122A).

              ...

        ...

Past service cost and gains and losses on settlement

99      When determining past service cost, or a gain or loss on settlement, an entity
        shall remeasure the net defined benefit liability (asset) using the current fair
        value of plan assets and current actuarial assumptions, (including current
        market interest rates and other current market prices), reflecting:

        (a)    the benefits offered under the plan and the plan assets before the plan
               amendment, curtailment or settlement; and

        (b)    the benefits offered under the plan and the plan assets after the plan
               amendment, curtailment or settlement.

        ...

101A    When a plan amendment, curtailment or settlement occurs, an entity shall recognise
        and measure any past service cost, or a gain or loss on settlement, in accordance with
        paragraphs 99­101 and paragraphs 102­112. In doing so, an entity shall not consider
        the effect of the asset ceiling. An entity shall then determine the effect of the asset
        ceiling after the plan amendment, curtailment or settlement and shall recognise any
        change in that effect in accordance with paragraph 57(d).

        ...




                                               3
       Components of defined benefit cost

120    An entity shall recognise the components of defined benefit cost, except to the
       extent that another Ind AS requires or permits their inclusion in the cost of an
       asset, as follows:

       (a)    service cost (see paragraphs 66­112 and paragraph 122A) in profit or
              loss;

       ...

       Current service cost

122A   An entity shall determine current service cost using actuarial assumptions
       determined at the start of the annual reporting period. However, if an entity
       remeasures the net defined benefit liability (asset) in accordance with
       paragraph 99, it shall determine current service cost for the remainder of the
       annual reporting period after the plan amendment, curtailment or settlement
       using the actuarial assumptions used to remeasure the net defined benefit
       liability (asset) in accordance with paragraph 99(b).


       Net interest on the net defined benefit liability (asset)

123    An entity shall determine net interest on the net defined benefit liability (asset)
       shall be determined by multiplying the net defined benefit liability (asset) by the
       discount rate specified in paragraph 83. , both as determined at the start of the
       annual reporting period, taking account of any changes in the net defined
       benefit liability (asset) during the period as a result of contribution and benefit
       payments.

123A   To determine net interest in accordance with paragraph 123, an entity shall use
       the net defined benefit liability (asset) and the discount rate determined at the
       start of the annual reporting period. However, if an entity remeasures the net
       defined benefit liability (asset) in accordance with paragraph 99, the entity shall
       determine net interest for the remainder of the annual reporting period after
       the plan amendment, curtailment or settlement using:

        (a)   the net defined benefit liability (asset) determined in accordance with
              paragraph 99(b); and

        (b)   the discount rate used to remeasure the net defined benefit liability (asset)
              in accordance with paragraph 99(b).

       In applying paragraph 123A, the entity shall also take into account any changes
       in the net defined benefit liability (asset) during the period resulting from
       contributions or benefit payments.







       ...




                                             4
125     Interest income on plan assets is a component of the return on plan assets, and is
        determined by multiplying the fair value of the plan assets by the discount rate
        specified in paragraph 123A. An entity shall determine the fair value of the plan
        assets at the start of the annual reporting period. However, if an entity remeasures
        the net defined benefit liability (asset) in accordance with paragraph 99, the entity
        shall determine interest income for the remainder of the annual reporting period after
        the plan amendment, curtailment or settlement using the plan assets used to
        remeasure the net defined benefit liability (asset) in accordance with paragraph
        99(b). In applying paragraph 125, the entity shall also take into account any changes
        in the plan assets held during the period resulting from contributions or benefit
        payments. The difference between the interest income on plan assets and the return
        on plan assets is included in the remeasurement of the net defined benefit liability
        (asset).

126     Interest on the effect of the asset ceiling is part of the total change in the effect of the
        asset ceiling, and is determined by multiplying the effect of the asset ceiling by the
        discount rate specified in paragraph 123A. An entity shall determine the effect of the
        asset ceiling at the start of the annual reporting period. However, if an entity
        remeasures the net defined benefit liability (asset) in accordance with paragraph 99,
        the entity shall determine interest on the effect of the asset ceiling for the remainder
        of the annual reporting period after the plan amendment, curtailment or settlement
        taking into account any change in the effect of the asset ceiling determined in
        accordance with paragraph 101A. The difference between interest on the effect of
        the asset ceiling and the total change in the effect of the asset ceiling is included in
        the remeasurement of the net defined benefit liability (asset).

        ...

Other long-term employee benefits

        ...

        Recognition and measurement

        ...

156     For other long-term employee benefits, an entity shall recognise the net total of
        the following amounts in profit or loss, except to the extent that another Ind AS
        requires or permits their inclusion in the cost of an asset:

       (a)    service cost (see paragraphs 66­112 and paragraph 122A);

        ...

Transition and effective date

        ...




                                                5
179   Plan Amendment, Curtailment or Settlement (Amendments to Ind AS 19), added
      paragraphs 101A, 122A and 123A, and amended paragraphs 57, 99, 120, 123, 125,
      126 and 156. An entity shall apply these amendments to plan amendments,
      curtailments or settlements occurring on or after the beginning of the first annual
      reporting period that begins on or after 1 April, 2019. Earlier application is
      permitted. If an entity applies these amendments earlier, it shall disclose that fact.




                                           6

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