Document ID: chunk:federal_register_of_legislation:F2023C00383:front:0:p2
Version: federal_register_of_legislation:F2023C00383
Segment Type: other
Provision Reference: 
Character Range: 3108–6284

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 service cost  122A
Net interest on the net defined benefit liability (asset) 123
Remeasurements of the net defined benefit liability (asset) 127
Presentation
Offset 131
Current/non-current distinction 133
Components of defined benefit cost 134
Disclosure 135
Characteristics of defined benefit plans and risks associated with them 139
Explanation of amounts in the financial statements 140
Amount, timing and uncertainty of future cash flows 145
Multi-employer plans 148
Defined benefit plans that share risks between entities under common control 149
Disclosure requirements in other Australian Accounting Standards 151
Other long-term employee benefits 153
Recognition and measurement 155
Disclosure 158
Termination benefits 159
Recognition 165
Measurement 169
Disclosure 171
Transition and effective date 172
Commencement of the legislative instrument
Withdrawal of AASB pronouncements Aus177.2
Appendices
A  Application guidance
C  Australian simplified disclosures for Tier 2 entities
COMPILATION DETAILS
Deleted IAS 19 text

AVailable on the AASB website
Basis for Conclusions on IAS 19

Australian Accounting Standard AASB 119 Employee Benefits (as amended) is set out in paragraphs 1 – 179 and Appendices A and C.  All the paragraphs have equal authority.  Paragraphs in bold type state the main principles.  AASB 119 is to be read in the context of other Australian Accounting Standards, including AASB 1048 Interpretation of Standards, which identifies the Australian Accounting Interpretations, and AASB 1057 Application of Australian Accounting Standards.  In the absence of explicit guidance, AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies.

Comparison with IAS 19
AASB 119 Employee Benefits as amended incorporates IAS 19 Employee Benefits as issued and amended by the International Accounting Standards Board (IASB).  Australian‑specific paragraphs (which are not included in IAS 19) are identified with the prefix "Aus".  Paragraphs that apply only to not-for-profit entities begin by identifying their limited applicability.

Tier 1
For-profit entities complying with AASB 119 also comply with IAS 19.
Not-for-profit entities' compliance with IAS 19 will depend on whether any "Aus" paragraphs that specifically apply to not-for-profit entities provide additional guidance or contain applicable requirements that are inconsistent with IAS 19.

Tier 2
Entities preparing general purpose financial statements under Australian Accounting Standards – Simplified Disclosures (Tier 2) will not be in compliance with IFRS Standards.
AASB 1053 Application of Tiers of Australian Accounting Standards explains the two tiers of reporting requirements.

Accounting Standard AASB 119

The Australian Accounting Standards Board made Accounting Standard AASB 119 Employee Benefits under section 334 of the Corporations Act 2001