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AS 15



This objective of this standard is to prescribe the accounting and disclosure for employ benefits.



This standard deals with the accounting treatment of the cost of the retirement benefits in the financial statements of employers.

And retirement benefits include the following:

a.     Provident fund

b.     Superannuation benefit.

c.      Defined contribution scheme

d.     Defined benefit scheme

e.      Gratuity.


This Standard does not deal with accounting and reporting by employee benefit plans.



Employee benefits:

These are all forms of consideration given by an enterprise in exchange for service rendered by employees.



Short-term employee benefits:

These are employee benefits (other than termination benefits) which fall due wholly within twelve months after the end of the period in which the employees render the related service.


Post-employment benefits:

These are employee benefits (other than termination benefits) which are payable after the completion of employment.


Post-employment benefit plans:

These are formal or informal arrangements under which an enterprise provides post-employment benefits for one or more employees.




Treatment and disclosure requirements:

The cost of retirement benefits should be accounted for in the period during which the employee renders services. There fore, accounting for retirement benefit cost when the employee leaves (on cash basis) is not appropriate.






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