Accounting alerts: #4 2015
Change to discount rate applied to AASB 119 Employee Benefits
Research commissioned by the Group of 100 concludes that a deep market for high quality corporate bonds now exists in Australia. Where such a market exists, AASB 119 requires that the rate used to discount employee benefit liabilities shall reflect those market yields.
Financial reporting is undergoing rapid change, particularly with the IASB finalising a number of projects effective over the next few years. The need to be kept informed of the latest developments has never been more important.
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