Search Definitions

Service cost comprises: (a) current service cost , which is the increase in the present value of the defined benefit obligation resulting from employee service in the current period; (b) past service cost , which is the change in the present value of the …

Net interest on the net defined benefit liability (asset) is the change during the period in the net defined benefit liability (asset) that arises from the passage of …

Remeasurements of the net defined benefit liability (asset) comprise: (a) actuarial gains and losses; (b) the return on plan assets, excluding amounts included in net interest on the net defined benefit liability (asset); and (c) any change in the effect …

Actuarial gains and losses are changes in the present value of the defined benefit obligation resulting from: (a) experience adjustments (the effects of differences between the previous actuarial assumptions and what has actually occurred); and (b) the …

The return on plan assets is interest, dividends and other income derived from the plan assets, together with realised and unrealised gains or losses on the plan assets, less: (a) any costs of managing plan assets; and (b) any tax payable by the plan …

A settlement is a transaction that eliminates all further legal or constructive obligations for part or all of the benefits provided under a defined benefit plan, other than a payment of benefits to, or on behalf of, employees that is set out in the terms …

The adding together of assets, liabilities, equity, income or expenses that have shared characteristics and are included in the same classification.  …

A present economic resource controlled by the entity as a result of past events.   CF.4.3 …

The amount at which an asset, a liability or equity is recognised in the statement of financial position.   CF.5.1 …

The sorting of assets, liabilities, equity, income or expenses on the basis of shared characteristics for presentation and disclosure purposes.   …