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Title: Financial Accounting: Employee Benefit Cost
Description: Summary for Employee Benefit Cost
Description: Summary for Employee Benefit Cost
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Post Employment:
1
...
Payment of contribution:
o Employment Benefit Exp
Cash
b
...
Advanced payment of contribution
o Prepaid Benefit Exp
Cash
xx
xx
xx
xx
xx
xx
2
...
Impact on Comprehensive Income:
Employee Benefit Expense (P/L)
Remeasurements (OCI)
Defined Benefit Cost
xx
xx
xx
Service Cost
Current
Past
Gain/(Loss) on Settlement
Net Interest
On Projected Benefit Obligation – Beg (Discount Rate)
On Fair Value of Plan Assets – Beg (Discount Rate)
On Effect of Asset Ceiling – Beg
Employee Benefit Expense
(xx)
(xx)
xx/(xx)
(xx)
xx
(xx)
Remeasurements:
1
...
Remeasurement of Fair Value of Plan Assets:
a
...
Actual Return FVPA < Int Inc FVPA = Loss
3
...
The surplus (Prepaid Benefit Cost) allowed to be recognized should not go above the
asset ceiling
...
Interest cost = EAC beg x Discount Rate
Remeasurements:
EAC – end
xx
EAC – beg
(xx)
Increase in EAC
xx
Interest Cost - EAC
(xx)
Remeasurement Loss - EAC xx
Leaves:
1
...
– Current Salary
...
Unused – Expensed if vesting and accumulating
...
Title: Financial Accounting: Employee Benefit Cost
Description: Summary for Employee Benefit Cost
Description: Summary for Employee Benefit Cost