A01_ELLI3325_13_SE_FM.

QXD 13/7/09 11:24 Page xii

xii • Full Contents

Exercises 339
References 341

13 Employee benefits 342

13.1 Introduction 342
13.2 Greater employee interest in pensions 342
13.3 Financial reporting implications 343
13.4 Types of scheme 343
13.5 Defined contribution pension schemes 345
13.6 Defined benefit pension schemes 346
13.7 IAS 19 (revised) Employee Benefits 348
13.8 The liability for pension and other post-retirement costs 348
13.9 The statement of comprehensive income 351
13.10 Comprehensive illustration 352
13.11 Plan curtailments and settlements 354
13.12 Multi-employer plans 354
13.13 Disclosures 355
13.14 Other long-service benefits 355
13.15 Short-term benefits 356
13.16 Termination benefits 357
13.17 IFRS 2 Share-Based Payment 358
13.18 Scope of IFRS 2 359
13.19 Recognition and measurement 359
13.20 Equity-settled share-based payments 359
13.21 Cash-settled share-based payments 362
13.22 Transactions which may be settled in cash or shares 362
13.23 Transitional provisions 363
13.24 IAS 26 Accounting and Reporting by Retirement Benefit Plans 363
Summary 366
Review questions 366
Exercises 369
References 372

14 Taxation in company accounts 373

14.1 Introduction 373
14.2 Corporation tax 373
14.3 Corporation tax systems – the theoretical background 374
14.4 Corporation tax systems – avoidance and evasion 375
14.5 Corporation tax – the system from 6 April 1999 378
14.6 IFRS and taxation 379
14.7 IAS 12 – accounting for current taxation 380
14.8 Deferred tax 382
14.9 FRS 19 (the UK standard on deferred taxation) 390
14.10 A critique of deferred taxation 391
14.11 Examples of companies following IAS 12 394
14.12 Value added tax (VAT) 396
Summary 397
Review questions 397
Exercises 398
References 400