Accounting put somebody through the mill..?
To clash revenue and expenses properly, should the expense for member of staff break clear be record within the extent during which the leave privilege is earn or during the time contained by which the leave is taken? Explain.
Answers:
It should be record during the extent during which it is earn. Be guided by IAS 19 Employee Benefits.
IAS 19 applies to (among other kind of hand benefits):
* wages and salary
* compensated absence (paid leave and sick leave)
Basic Principle of IAS 19 -
The cost of providing hand benefits should be recognised within the extent surrounded by which the benefit is earn by the member of staff, a bit than when it is compensated or payable. For short-term member of staff benefits (those payable inwardly 12 months after service is rendered, such as wages, compensated break and sick leave), the undiscounted amount of the benefits expected to be remunerated within respect of service rendered by organization surrounded by a term should be recognised surrounded by that time. [IAS 19.10]
You shoudl diary it during the term which it is earn - this is when it become a liability for you (which is what you are recognize - the liability). Good luck.
Need opinion on $ opportunity...?
How to create websites that...?
Can i draw from the record abdication opportunity for a message i want to distribute to the usa..or is it solitary for uk deliveries
Does the White House acquire telemarketer call?
Can i government grant and concept short have an ingenious or prototype?
Answers:
It should be record during the extent during which it is earn. Be guided by IAS 19 Employee Benefits.
IAS 19 applies to (among other kind of hand benefits):
* wages and salary
* compensated absence (paid leave and sick leave)
Basic Principle of IAS 19 -
The cost of providing hand benefits should be recognised within the extent surrounded by which the benefit is earn by the member of staff, a bit than when it is compensated or payable. For short-term member of staff benefits (those payable inwardly 12 months after service is rendered, such as wages, compensated break and sick leave), the undiscounted amount of the benefits expected to be remunerated within respect of service rendered by organization surrounded by a term should be recognised surrounded by that time. [IAS 19.10]
You shoudl diary it during the term which it is earn - this is when it become a liability for you (which is what you are recognize - the liability). Good luck.