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The IASB has published for comment a Discussion Paper “Preliminary Views on Amendments to IAS 19 Employee Benefits”. The IASB intends to issue a revised IAS 19 by 2011. The paper is a first step in a comprehensive project on the accounting for post-employment benefit promises.
This step is limited in scope to the following issues:
- The deferred recognition of some gains and losses arising from defined benefit plans (currently IAS 19 allows multiple options for deferring recognition).
- Presentation of defined benefit liabilities.
- Accounting for benefits that are based on contributions and a promised return.
- Accounting for benefit promises with a 'higher of' option.
The IASB intends to work with the US FASB towards a common standard on post-employment benefit promises. Because that project will take many years to complete, the Board concluded that short-term improvements are needed to provide users with better information about post-employment obligations.
Deadline for responses is
The discussion paper “Preliminary Views on Amendments to IAS 19 Employee Benefits” will be freely available on the IASB Website from 7 April.