PAS 19, 8, and 10

These include benefits provided either to employees or to their dependents or

beneficiaries and may be settled by payments (or the provision of goods or services) made

either directly to the employees, to their spouses, children or other dependents or to others,

such as insurance companies as per PAS 19.

• Employee benefits

• Total compensation package

• Extrinsic Motivation

• Employee payment

These include items such as the following, if expected to be settled

wholly before twelve months after the end of the annual reporting period in which the

employees render the related services.

• short‑ term employee benefits

• wages and salaries

• post‑ employment benefits

• termination benefits

Under _____ the entity’s legal or constructive obligation is limited to the

amount that it agrees to contribute to the fund.

• defined benefit plans

• long-term benefit plan

• defined contribution plans

• defined employee plan

Under _____, the entity’s obligation is to provide the agreed benefits to current and former employees actuarial risk and investment risk fall, in

substance, on the entity.

• Defined Contribution Plans

• Defined Benefit Plans

• Short-term benefit plan

• Multi-Employer Plans

Accounting for Other Long‑Term Employee Benefits involves the recognition of

remeasurements in other comprehensive income

• TRUE

• FALSE

Termination benefits do not include employee benefits resulting from termination of

employment at the request of the employee without an entity’s offer, or as a result of mandatory

retirement requirements.

• TRUE

• FALSE

_____ are the specific principles, bases, conventions, rules and practices applied

by an entity in preparing and presenting financial statements as per PAS 8.

• GAAP

• Accounting rules

• Accounting convention

• Accounting policies

_____ refer to a change in an accounting estimate is an adjustment of the

carrying amount of an asset or liability, or related expense or the amount of the periodic

consumption of an asset, resulting from reassessing the present status of expected future

benefits and obligations associated with the asset or liability.

• Accounting Estimates

• Accounting Policies

• Retrospective change

• Prospective change

Based on PAS 10, _____ are those events, favorable and unfavorable, that occur

between the end of the reporting period and the date when the financial statements are

authorized for issue.

• Events before the reporting period

• Events after the reporting period

• Events during the reporting period

_____ are events occurring after the reporting date that do not provide evidence

of conditions that existed at the end of the reporting period.

• adjusting events

• Non-adjusting events

• fortuitous event

• accountable event