IASB amends IAS 19

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16 Dec 2004

The IASB has finalised an amendment to IAS 19 'Employee Benefits' to allow the option of recognising actuarial gains and losses in full in the period in which they occur, outside profit or loss, in a statement of recognised income and expense.

This option is similar to the requirements of the UK standard, FRS 17 Retirement Benefits.

The Board concluded that, pending further work on post-employment benefits and on reporting comprehensive income, the approach in FRS 17 should be available as an option to preparers of financial statements using IFRSs.

The amendment also provides guidance on allocating the cost of a group defined benefit plan to the entities in the group. Click for IASB Press Release (PDF 56k).


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