Exam 9: Employee Benefits

IAS 19 requires short-term employee benefits to be measured at:

An increase in the present value of a defined benefit obligation resulting from employee service in the current period is referred to as:

Benefits paid to members of a defined contribution post-employment fund are based on: I $\quad$ the level of contributions made to the fund II $\quad$ remuneration levels while employed III $\quad$ number of years in service IV $\quad$ investment returns generated by the fund

Benefits paid to members of a defined benefit post-employment fund are based on: I the level of employer contributions made to the fund II remuneration levels while employed III number of years in service IV investment returns generated by the fund

Pirate Ltd employs 5 staff. Each staff member is entitled to 20 days annual leave per annum. Leave loading of 17.5% is paid when the leave is taken. At 1 July 2016 the balance in the provision for annual leave account was $20 303. Details of each employees leave entitlement at 30 June 2017 are as follows: Employee Salary Days owing @ 1/7/13 Days taken during year Jo Bird \ 65000 17 22 Bill Brown \ 70000 5 12 Ben Fit \ 85000 24 18 Greg Horn \ 62500 3 15 Lou Hamilton \ 90000 9 26 There are 260 work days in a year. On 1 July each year all employees receive a 5% wage rise. There are no other wage rises given during the year. The closing balance in the provision for annual leave account at 30 June 2017 is:

IAS 19 does NOT prescribe the accounting treatment for:

IAS 19 adopts which method to determining long service leave obligations?

The offer to pay termination benefits can no longer be withdrawn when the entity has communicated to affected employees a plan of termination that meets which of the following criteria?

The key steps involved in accounting by the employer for a defined benefit post-employment fund in accordance with IAS 19 include:

Which of the following types of employee benefits are required to be measured at their nominal value?

An entity is required to recognise a liability for short-term compensated absences that are:

The nominal value of an accumulated benefit for long service leave is calculated as (Years of employment/Years required for LSL) x (weeks of paid leave/52) x ______?

Which of the following types of employee benefits are required to be measured at the present value of expected future cash flows?

Employee benefits can be allocated to assets:

Salary sacrificing refers to:

Determining an entity's liability for long service leave requires estimation of:

IAS 19 requires an entity to record a liability for long service leave:

Employee benefits can arise from which of the following? I workplace agreements between an entity and its employees II enterprise bargaining agreements between an entity and the relevant employee union III government legislation IV specific industry arrangements

Pirate Ltd employs 5 staff. Each staff member is entitled to 20 days annual leave per annum. Leave loading of 17.5% is paid when the leave is taken. At 1 July 2015 the balance in the provision for annual leave account was €20 303. Details of each employees leave entitlement at 30 June 2016 are as follows: Employee Salary Days owing @ 1/7/13 Days taken during year Jo Bird 65,000 17 22 Bill Brown 70,000 5 12 Ben Fit 85,000 24 18 Greg Horn 62,500 3 15 Lou Hamilton 90,000 9 26 There are 260 work days in a year. On 1 July each year all employees receive a 5% wage rise. There are no other wage rises given during the year. Annual leave payments made during the year were debited against the provision account. The total debit against the annual leave account during the year in relation to leave taken was:

Actuarial gains or losses can arise from: I $\quad$ employee service provided in the current period II $\quad$ the unwinding of the discount applied to the obligation III $\quad$ changes to actuarial assumptions IV $\quad$ experience adiustments