The article discusses the significant differences on the accounting requirements for employee benefits under MPSAS 25, MFRS 119 and Section 28 of MPERS.
Employee Benefits
Posted inFinancial Accounting
Factsheet Series: Accounting for Defined Benefit Plan
Lets understand how entities account for defined benefit plans given to employees as part of their post-employment benefits.
Posted inFinancial Accounting
Factsheet Series: Accounting for Employee Benefits
Understand how entities should account for their employee benefits. The accounting for short-term benefits are rather straight-forward. Entities should focus on the accounting for the tricker part – post-employment benefits.