Page 256 - Group Insurance and Retirement Benefit IC 83 E- Book

Employee Benefits 205

Presentation

Offset

117. An enterprise should offset an asset relating to one plan against a
liability relating to another plan when, and only when, the enterprise:

(a) has a legally enforceable right to use a surplus 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.

Financial Components of Post-employment Benefit Costs

118. This Standard does not specify whether an enterprise should present
current service cost, interest cost and the expected return on plan assets
as components of a single item of income or expense on the face of the
statement of profit and loss.

Provided that a Small and Medium-sized Company, as defined in
the Notification, may not apply the presentation requirements laid down
in paragraphs 117 to 118 of the Standard in respect of accounting for
defined benefit plans.

Disclosure

119. An enterprise should disclose information that enables users of
financial statements to evaluate the nature of its defined benefit plans and
the financial effects of changes in those plans during the period.

120. An enterprise should disclose the following information about defined
benefit plans:
(a) the enterprise’s accounting policy for recognising actuarial gains
and losses.

(b) a general description of the typeof plan.

(c) a reconciliation of opening and closing balances of the present
value of the defined benefit obligation showing separately, if