Nobody downloaded yet

International Accounting Standard 19, Employee Benefits - Research Paper Example

Comments (0) Cite this document
Summary
International Accounting Standard 19, Employee Benefits Name of Author Author’s Affiliation Author Note Author note with more information about affiliation, research grants, conflict of interest and how to contact Topic:  International Accounting Standard 19, Employee Benefits Introduction The aim of this research paper is to conduct an in-depth study of a subject related to International Accounting Standard 19, Employee Benefits…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.7% of users find it useful
International Accounting Standard 19, Employee Benefits
Read TextPreview

Extract of sample
"International Accounting Standard 19, Employee Benefits"

Download file to see previous pages This paper will also focus on how to improve the financial reporting regarding the pension benefits and identify the main problems in the current financial reporting system for pension. IAS has issued several directives on employee benefits. Employee benefits can be subdivided into short term, long term, post-employment and termination benefits. The new IAS 19 is a great achievement because it offers many advantages to the employees. On the other hand, it also suffers from certain disadvantages, which can be mitigated in due course of time with suitable amendments. Roadmap: The paper first deals with the IAS 19 frameworks and explains the standards of IAS 19 relating to employee benefits. IAS 19 is the framework for evaluating the employee benefits. Then the paper takes up the controversies in IAS 19 standards relating to various schemes especially pension related issues. The next discussion segment in the paper is the old IAS 19 standards and the latest IAS 19 standards. The last discussion segment is the latest amendments made in the IAS 19 standards. The papers dwell not only on the latest amendments but also such amendments which have been proposed to be implemented. All specific points relating to the IAS 19 have been stated considered in the paper. Evidences taken to support the ideas projected in the paper have been provided as references. Lastly, appropriate conclusions have been drawn and stated in the paper. Subheadings with specific points supported by evidence The IAS 19 framework: Under the wide term of IAS 19 come all employee benefits which include short term, long term, post employment, retirement, termination and compensation benefits. The short term employee benefits can be categorized as salary and bonus payments, paid and unpaid leaves and other short term non monetary benefits like medical and housing facility etc. The long term benefits include the employee’s long term leave and service benefits. The main aspect in IAS 19 is the post employment benefit section or to be more specific, the subject of pension. IAS 19 is the direction provider to post employment and post retirement benefits and pension benefit is one of the most important post employment benefits. Controversies in IAS 19: IAS 19 became a controversial standard and one of the main reasons for this was that the accounting standard for pension was not correctly adhered to. IAS 19 is an accounting standard which covers the reporting of all employee benefits and the most debated topic is the discussion on pensions, especially the employer sponsored, defined benefit pension plans. Pension plans can basically be divided into two categories. It can either be a defined contribution or a defined benefit plan. In the defined contribution plan the employer has to bear a lot of expenses because the unfunded benefits are usually recorded as a liability in the balance sheet. “Under IAS 19 recommendations, unfunded benefits are to be recorded, as a general rule, as liabilities in the balance sheet of the sponsoring employer. In defined contribution plans, the employer’s annual contribution under the terms of the occupational plan should be recognized as an expense.” (Yermo& Stewart, 2007, P.48). IAS 19 has been subjected to several amendments but still organizations have been incurring high losses due to several reasons. IAS 19 has ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“International Accounting Standard 19, Employee Benefits Research Paper”, n.d.)
Retrieved from https://studentshare.org/family-consumer-science/1409181-international-accounting-standard
(International Accounting Standard 19, Employee Benefits Research Paper)
https://studentshare.org/family-consumer-science/1409181-international-accounting-standard.
“International Accounting Standard 19, Employee Benefits Research Paper”, n.d. https://studentshare.org/family-consumer-science/1409181-international-accounting-standard.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
International Accounting
...historical financial information regarding the operating and financial performance of the business. In recent years non-financial information has become more prevalent, more and more users of financial statements require information of the entities polices towards the environment, employees and society. International accounting does not require these non-financial reports, but many companies produce them voluntarily. Usefulness of corporate reporting Financial reports will always need to be produced to satisfy statutory requirements, such as filing accounts or for the presentation of tax returns. As the harmonization of accounting standards takes...
4 Pages(1000 words)Research Paper
Tyco International Accounting Issues
...in their accounting practices. The standards of assessing merit or detecting improprieties are therefore difficult and could have a mismatch of methodology. It is in line with this challenge that Tyco has sought to defend its practices as an aspect of diversity in international trading practices. Confounding accounting practices have the potential of weakening the markets by bringing down the levels of investor confidence. In the specific case of Tyco, recent reports have shown that the company has suffered significantly on account of market confidence. Such effects often create negative impacts on a wider scale and make competitors to eat into the company’s niche...
6 Pages(1500 words)Research Paper
The benefits and drawbacks of finance and accounting outsourcing
...style could be integrated into the culture of company otherwise data integration would be an extra burden over the company (Tejaswini & Rajiv, 2010). Company records are the critical factor for working and operations thus it often seen that management is not comfortable in sharing the information and the internal data even with the outsourcer thus it has to be considered the level of services required and decisions to be made regarding the data that would be shared with the outsourcer. Pros and Cons of Outsourcing Finance/Accounting Pros mostly can be said to be the reasons or the benefits for which the small and medium sized companies chose to outsource their finance/accounting...
4 Pages(1000 words)Research Paper
International accounting standards
...that have been defined earlier or it is an entity enjoys influence, wither direct or indirect or in collaboration with another party or is somehow significantly swayed with regards to organizational decision making or who enjoys a significant power of choice and veto in such an entity; wither directly or indirectly or through any individual which have been referred earlier or the party offers a post employment plan of benefits for the assistance of the employees of the entity or any entities which are related to it; or itself is the benefits plan for this entity. [9] Now, it is pivotal to note that the revision that had been made to the International Accounting...
6 Pages(1500 words)Research Paper
International Accounting (Comparison)
...International Accounting Table of Contents Introduction 3 GAAP 4 IFRS 4 Advantages of GAAP 5 Advantages of GAAP based on prescriptive standards 5 Advantages of GAAP based on principle standards 5 Disadvantages of GAAP 6 Advantages of IFRS 6 Disadvantages of IFRS 6 Principle-based system versus Rule-based system 7 Transitional effects 7 Consequences on the company or organization 8 Impact on the management 8 Changes in the perspectives of visualizing 8 Critical evaluation of the phenomenon of switching from GAAP to IFRS 8 Conclusion 9 References 11 Introduction The interest towards the subject “International Accounting” has shown an upward rising trend over the last two to three decades and this trend can be measured by the increasing number... of...
6 Pages(1500 words)Research Paper
Designing Compensation Systems and Employee Benefits
...Designing Compensation Systems and Employee Benefits Describe the differences between job analysis and job evaluation and how these practices helpestablish internally consistent job structures. Job analysis is the process in which a job is broken down into its constituent parts. For example, if a job is driving a car, then the constituent parts of the job is keeping a watch on the traffic, determining the speed which is appropriate, wearing the seat belts and being conversant of the road map. Therefore, job analysis is focused on the tasks and not the people who are performing the task. On the other hand, job evaluation is a process of understanding the value of a particular job in the prevailing job market. Job evaluation also attempts... to...
4 Pages(1000 words)Research Paper
Accounting (International Financial Reporting)
...A Brief History of IFRS IFRS are principle based accounting standard designed by The International Accounting Committee (IAC), established in 1973 in London to provide accounting standard for developing countries. “For example in U S we have U S GAAP. In 2001, the International Accounting Standard Foundation (IASF) was established along with International Accounting Standard Board (IASB), which superseded the IAC.” (Mirza,A., Holt,G.,& Orrel, M. 2010, para.1). “Composition of International Accounting...
1 Pages(250 words)Research Paper
International Accounting Standards Board Deliberations
...International Accounting Standards By The conceptual framework helps in the quality preparation of accounting reports. The research focuses on the understanding the conceptual framework of accounting reports. The accounting reports are grounded on U.S. GAAP, U.K. GAAP, or International Accounting Standards. Starting in 2005, all companies, especially those listed in the London Stock Exchange are required to incorporate the International Accounting Standards in the preparation of the financial statements. The FASB and IASB study, research, and...
3 Pages(750 words)Research Paper
Employee Benefits-Medical Plans and Health Care
...Employee Benefits-Medical Plans and Health Care The total cost of health care and health care plans in the United States have been on the rise from $75 billion in 1970, $2.6 trillion in 2010 with an expected rise of 4.8 trillion in 2021. This means that the cost of health is expected account for nearly 20% of the American economy. The increasing rise in the cost of health care has led to many employees and consumers struggle to afford access of health care through subscription to health insurance premiums. Furthermore, not all the employers have the capability of offering health care coverage for all their employees. As such, more than 50 million employees are approximated to lack health care coverage. For those with health care insurance... ...
6 Pages(1500 words)Research Paper
The Benefits of Having a Standard International Accounting System: IAS1
3 Pages(750 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Research Paper on topic International Accounting Standard 19, Employee Benefits for FREE!
logo footer
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us