ANNOUNCEMENT
Limited Revision to
Accounting Standard (AS) 15, Employee Benefits (revised 2005)
The Council of the Institute of Chartered Accountants of India has decided to make limited
revision to Accounting Standard (AS) 15, Employee Benefits (revised 2005), with a view to
provide the following:
(i) Under the Transitional Provisions, an option has been given to charge
additional liability arising upon the first application of the Standard as an
expense over a period upto 5 years. On the lines of IAS 19, the Transitional
Provisions of revised AS 15 require disclosure of un-recognised amount.
(ii) An entity may disclose the amounts required by paragraph 120(n) as the
amount determined for each accounting period prospectively from the
transitional date.
For further details with Examples use the following path:
http://icai.org/icairoot/announcements/announ1185.pdf
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