Employee Benefits and Discounting under AASB 119 - Desklib

Woolworth Group

The Employee Benefits Mentioned Under the
AASB 119.
• The Employee Benefits is well briefed in accordance with the Australian Accounting Standards
(AASB 119). The various types of employee benefits discussed and which should be in accordance
with the AASB 119 under the short-term employee benefits are:
• Salary, Wages and Other Security Social Contributions.
• Annual Paid Leave and other medical leave
• Sharing Of Profits in the form of bonus
• The post-employment benefits and others benefits that are there in the AASB 119 are:
• Retirement and other benefits like pensions arrangement
• Term Insurance and other long-term medical care benefits.
• Long-term benefits to the existing and old employees are:
• Paid leave
• Disability benefits in the long term.
• Other benefits linked to termination of employees.

Accounting or Employee Benefits and Discounting
under AASB 119.
• The components of the Employee benefits that needs to be discounted
under the AASB 119 are:
• Market Based Performance paid to the employers and the assets linked
to it are valued at the fair value and is calculated by including the grant
date and using a Monte Carlo Model. The probability approach is used in
getting or determining the market based performance and then
calculating the fair value of the assets (Pagès, 2018).
• Non- Market Based performance components like the Earnings per share
and the sales per trading for the company is calculated by using the Black
Scholes Merton model for discounting purpose and determining the
retention rights of the employees.