Illustrative Disclosures :
This illustration is illustrative only and does not form part of the Standard. The purpose of this illustration is to illustrate the application of the Standard to assist in clarifying its meaning. Extracts from notes to the financial statements show how the required disclosures may be aggregated in the case of a large multi-national group that provides a variety of employee benefits. These extracts do not necessarily provide all the information required under the disclosure and presentation requirements of AS 15 (2005) and other Accounting Standards. In particular, they do not illustrate the disclosure of:
- accounting policies for employee benefits (see AS 1 Disclosure of Accounting Policies). Paragraph 120(a) of the Standard requires this disclosure to include the enterprise’s accounting policy for recognising actuarial gains and losses.
- a general description of the type of plan (paragraph 120(b)).
- a narrative description of the basis used to determine the overall expected rate of return on assets (paragraph 120(j)).
- employee benefits granted to directors and key management personnel (see AS 18 Related Party Disclosures).