320 definitions found
AASB 119
Definition
8[14]
Plan assets comprise: (a) assets held by a long-term employee benefit fund; and (b) qualifying insurance policies. …
AASB 119
Definition
8[15]
Assets held by a long-term employee benefit fund are assets (other than non-transferable financial instruments issued by the reporting entity) that: (a) are held by an entity (a fund) that is legally separate from the reporting entity and exists solely to …
AASB 119
Definition
8[16]
A qualifying insurance policy is an insurance policy [1] , [Aus1] issued by an insurer that is not a related party (as defined in AASB 124 Related Party Disclosures ) of the reporting entity, if the proceeds of the policy: (a) can be used only to pay or …
AASB 119
Definition
8[17]
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. (See AASB 13 Fair Value Measurement …
AASB 119
Definition
8[18]
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 …
AASB 119
Definition
8[19]
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 …
AASB 119
Definition
8[20]
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 …
AASB 119
Definition
8[21]
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 …
AASB 119
Definition
8[22]
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 …
AASB 119
Definition
8[23]
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 …