As 15
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 April 2013
How to treat short term employee benefits ie unvested leaves?
For eg- an employee is expected to take 80% leaves in d next year and if he takes more than expected leaves, how the excess must be treated
For eg- an employee is expected to take 80% leaves in d next year and if he takes more than expected leaves, how the excess must be treated
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 April 2013
Accounting standard 15
29 April 2013
When you estimate for 80% of leaves and if he takes say 90% of leaves. that will be change in accounting estimate
11 June 2013
An enterprise has 100 employees, who are each entitled to five working days of leave for each year. Unused leave may be carried forward for one calendar year. The leave is taken first out of the current year’s entitlement and then out of any balance brought forward from the previous year (a
LIFO basis). At 31 December 20X4, the average unused entitlement is two days per employee. The enterprise expects, based on past experience which is expected to continue, that 92 employees will take
no more than five days of leave in 20X5 and that the remaining eight employees will take an average of six and a half days each.
The enterprise expects that it will pay an additional 12 days of pay as a result of the unused entitlement that has accumulated at 31 December 20X4 (one and a half days each, for eight employees). Therefore, the enterprise recognises a liability, as at 31 December 20X4, equal to 12 days of pay
LIFO basis). At 31 December 20X4, the average unused entitlement is two days per employee. The enterprise expects, based on past experience which is expected to continue, that 92 employees will take
no more than five days of leave in 20X5 and that the remaining eight employees will take an average of six and a half days each.
The enterprise expects that it will pay an additional 12 days of pay as a result of the unused entitlement that has accumulated at 31 December 20X4 (one and a half days each, for eight employees). Therefore, the enterprise recognises a liability, as at 31 December 20X4, equal to 12 days of pay
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