Document ID: chunk:federal_register_of_legislation:F2023C00383:reg:4:p13
Version: federal_register_of_legislation:F2023C00383
Segment Type: reg
Provision Reference: reg 4 (pt 13/25)
Character Range: 98390–101456

in one plan to settle obligations under the other plan; and
(b) intends either to settle the obligations on a net basis, or to realise the surplus in one plan and settle its obligation under the other plan simultaneously.
132 The offsetting criteria are similar to those established for financial instruments in AASB 132 Financial Instruments: Presentation.

Current/non-current distinction
133 Some entities distinguish current assets and liabilities from non-current assets and liabilities. This Standard does not specify whether an entity should distinguish current and non-current portions of assets and liabilities arising from post-employment benefits.

Components of defined benefit cost
134 Paragraph 120 requires an entity to recognise service cost and net interest on the net defined benefit liability (asset) in profit or loss. This Standard does not specify how an entity should present service cost and net interest on the net defined benefit liability (asset). An entity presents those components in accordance with AASB 101.

Disclosure
135 An entity shall disclose information that:
(a) explains the characteristics of its defined benefit plans and risks associated with them (see paragraph 139);
(b) identifies and explains the amounts in its financial statements arising from its defined benefit plans (see paragraphs 140–144); and
(c) describes how its defined benefit plans may affect the amount, timing and uncertainty of the entity's future cash flows (see paragraphs 145–147).
136 To meet the objectives in paragraph 135, an entity shall consider all the following:
(a) the level of detail necessary to satisfy the disclosure requirements;
(b) how much emphasis to place on each of the various requirements;
(c) how much aggregation or disaggregation to undertake; and
(d) whether users of financial statements need additional information to evaluate the quantitative information disclosed.
137 If the disclosures provided in accordance with the requirements in this Standard and other Australian Accounting Standards are insufficient to meet the objectives in paragraph 135, an entity shall disclose additional information necessary to meet those objectives. For example, an entity may present an analysis of the present value of the defined benefit obligation that distinguishes the nature, characteristics and risks of the obligation. Such a disclosure could distinguish:
(a) between amounts owing to active members, deferred members, and pensioners.
(b) between vested benefits and accrued but not vested benefits.
(c) between conditional benefits, amounts attributable to future salary increases and other benefits.
138 An entity shall assess whether all or some disclosures should be disaggregated to distinguish plans or groups of plans with materially different risks. For example, an entity may disaggregate disclosure about plans showing one or more of the following features:
(a) different geographical locations.
(b) different characteristics such as flat salary pension plans, final salary pension plans or post-employment medical