IFRS PRACTICAL IMPLEMENTATION GUIDE AND WORKBOOK

Wiley lFRS: Practicallmplementation Guide and Workbook

190

Plan contributions:

Employer contributions Employee contributions

55.000 50000

Tota l plan contributions Total additions to net asset value Plan benefit payments: Pensions (annual)

105000 .!lli!.llQQ

25,000 35,000 10.000 15000 85 000 85 000 95 000

Lump-sum payments on retiremen t Severance pay Commutation of superannuation benefits

Total plan benefit payments Total deductions from net asset value Net increase in asset value Net assets available for benefits Beginning of year End of year

100,000 195.000 6. ADDITIONAL DISCLOSURES REQUIRED BY THE STANDARD 6.1 In case of both defined benefit plans and defined contribution plans, lAS 26 requires that the reports of a retirement benefit plan should also contain this information: • A statement of change s in net assets available for benefit s • A summary of significant accounting policies • A description of the plan and the effect of any change s in the plan during the period 6.2 Reports provided by retirement benefits plans may include , if applicable ( 1) A statement of net assets available for benefits disclosing a] Assets at the end of the period suitably classified b] The basis of valuation of assets c] Details of any single investment exceeding either 5% of the net assets available for benefits or 5% of any class or type of security d] Details of any investment in the employer e] Liabilities other than the actuarial present value of promised retirement benefit s (2) A statement of changes in net assets available for benefits showing a] Employer contributions b] Employee contributi ons c] Investment income such as interest and dividends d] Other income e] Benefit s paid or payable (analyzed, e.g., as retirement, death, and disability benefit s, and lump-sum payments) f] Administrati ve expenses g] Other expenses h] Taxes on income i] Profits and losses on disposal of investments and changes in value of investment s j] Transfers from and to other plans (3) A description of the funding policy (4) For defined benefit plans, the actuarial present value of promised retirement benefits (which may distingui sh between vested benefits and nonvested benefits) based on the benefits promised under the terms of the plan, on service rendered to date and using either current salary levels or projected salary levels. This information may be included in an ac– companying actuarial report to be read in conjunction with the related information. (5) For defined benefit plans, a description of the significant actuarial assumptions made and the method used to calculate the actuarial present value of promised retirement benefit s. 6.3 According to the Standard, since the report of a retirement benefit plan contains a description of the plan, either as part of the financial information or in a separate report, it may contain ( 1) The names of the employers and the employee groups covered