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as 15 (revised 2005)

CA Abhash (Chartered Accountant) (324 Points)

29 September 2007

is any one having noted on AS 15 (revised 2005)

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Ravikumar.G (Consultant) (18525 Points)
Replied 29 September 2007

It is very much available in our files portal. Kinldy download it.

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CA Abhash (Chartered Accountant) (324 Points)
Replied 30 September 2007

kindly provide the exact link. thanks

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CA Nikita (Chartered Accountant) (4158 Points)
Replied 30 September 2007

Hi!!! here's the link... /files_display.asp?files_id=592

(Guest)

i want solved model papers

Tikaram Chaudhary (Founder of Gratuity Trust Fund Consultant) (2187 Points)
Replied 21 July 2015

Requirement of actuarial valuation services in compliance of AS-15 (Revised 2005) under various employee benefits plans such as Gratuity, Leave Encashment , Pension, etc. :-

Accounting & Disclosure for Employee Benefits in Compliance of Accounting Standard (AS) 15 (revised 2005)
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Accounting Standard (AS) 15 (revised 2005) is issued by the Institute of Chartered Accountants of India and is mandatory in nature (refer to the text of the standard for details).

The objective of the standard is to prescribed accounting and disclosure for employee benefits. The statement requires an enterprise to recognize:-

A liability when an employee has provided service in exchange for employee benefits to be paid in the future; and

An expense when the enterprise consumes the economic benefit arising from service provided by an employee in exchange for employee benefits.

Employee Benefits fall under 2 type of plans:- Defined Contribution Plans and Defined Benefit Plans.

Employee Benefits are further classified as:-

Short Term Employee Benefits

Post Employment Benefits such as Gratuity, Pension, Other Retirement Benefits, Post-Employment Life Insurance and Post-Employment Medial Care;

Other Long-Term Employee Benefits, including long-service leave or sabbatical leave, jubilee or other long-service benefits, long-term disability benefits and, if they are not payable wholly within twelve months after the end of the period, profit-sharing, bonuses and deferred compensation; and

Termination Benefits

Because each category identified above has different characteristics, this statement establishes separate requirements for each category.

Accounting and Disclosure requirements for Defined Benefit Plans need the skill of an Actuary.

Most common Defined Benefits relevant in the Indian context which need the services of an actuary for compliance of the accounting standard, whilst finalizing the financial statements are:-

Gratuity
Compensated Absences (Earned Leave)
Compensated Absences (Sick Leave)
Post Retirement Medical Benefits
Superannuation (Pension Benefits)

Frequent items to be conversant with the subject are:-

Projected Unit Credit Method (PUC)
Present Value of Obligation
Current Service Cost
Interest Cost
Actuarial Gains/Losses
Employer’s Expense
Experience Adjustment on Plan Liabilities
Experience Adjustment on Plan Assets

*We provide actuarial services for compliance of the standard. We have expertise, experience and in-depth knowledge in this field. We have a large clientele spread in almost all sectors of the economy in Public and Private Sectors including Multinational Companies, Limited Companies, Schools, Hospitals, Banks, Electricity/Power Companies etc. etc.

Our services are also available for compliance of :-

IndAS 19 ,International Accounting Standard IAS (19) – IFRS, NAS-19 (Nepal Accounting Standard)-19 & US GAAP

For more details you may send your requirements on emails :- mlsodhi @ yahoo.co.in or you may visit website at you may visit our website : www.mlsodhiactuary.com