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Compiled AASB Standard  AASB 119

Employee Benefits

This compiled Standard applies to annual periods beginning on or after 1 January 2023 but before 1 July 2026.  Earlier application is permitted for annual periods beginning on or after 1 January 2014 but before 1 January 2023.  It incorporates relevant amendments made up to and including 15 December 2022.
Prepared on 6 April 2023 by the staff of the Australian Accounting Standards Board.
Compilation no. 5

Compilation date:  31 December 2022

Obtaining copies of Accounting Standards
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Victoria   8007
AUSTRALIA

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E-mail: standard@aasb.gov.au
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COPYRIGHT
© Commonwealth of Australia 2023
This compiled AASB Standard contains IFRS Foundation copyright material.  Reproduction within Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use subject to the inclusion of an acknowledgment of the source.  Requests and enquiries concerning reproduction and rights for commercial purposes within Australia should be addressed to The Managing Director, Australian Accounting Standards Board, PO Box 204, Collins Street West, Victoria 8007.
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Contents

COMPARISON WITH IAS 19
ACCOUNTING STANDARD
AASB 119 EMPLOYEE BENEFITS

from paragraph
Objective 1
Scope 2
Definitions 8
Short-term employee benefits 9
Recognition and measurement
All short-term employee benefits 11
Short-term paid absences 13
Profit-sharing and bonus plans 19
Disclosure 25
Post-employment benefits: distinction between defined contribution plans and defined benefit plans 26
Multi-employer plans 32
Defined benefit plans that share risks between entities under common control 40
State plans 43
Insured benefits 46
Post-employment benefits: defined contribution plans 50
Recognition and measurement 51
Disclosure 53
Post-employment benefits: defined benefit plans 55
Recognition and measurement 56
Accounting for the constructive obligation 61
Statement of financial position 63
Recognition and measurement: present value of defined benefit obligations and current service cost 66
Actuarial valuation method 67
Attributing benefit to periods of service 70
Actuarial assumptions 75
Actuarial assumptions: mortality 81
Actuarial assumptions: discount rate 83
Actuarial assumptions: salaries, benefits and medical costs 87
Past service cost and gains and losses on settlement 99
Past service cost 102
Gains and losses on settlement 109
Recognition and measurement: plan assets
Fair value of plan assets 113
Reimbursements 116
Components of defined benefit cost 120
Current