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AASB 119 - Employee Benefits
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Summary 
Developments, Key Differences & History 
Compared to IFRS 
Interpretations 
Rejection Notices 
Questions & Answers 
Articles 
AASB website 

 
AASB 119 compared to IAS 19 
 
Additions  
Aus 1.1  
Which entities AASB 119 applies to, ie. reporting entities and general purpose financial reports.  
 
Aus 1.2  
The application date of AASB 119, ie. annual reporting periods beginning 1 January 2005.  
 
Aus 1.3  
Prohibits early application of AASB 119.  
 
Aus 1.4  
Makes the requirements of AASB 119 subject to AASB 1031 Materiality.  
 
Aus 1.5  
Explains which Australian Standards have been superseded by AASB 119.  
 
Aus 1.6  
Notice of the new Standard published on 22 July 2004.  
 
Aus 78.1  
The discount rate used in the measurement of post-employment benefit obligations must be the market yield on government bonds rather than high quality corporate bonds because the market in the latter is not sufficiently active and liquid.  
 
Aus 160.1  
Transitional provisions. 
 
Deletions 
108(c)  
Acquisition accounting the assets and liabilities arising from post-employment benefits includes amounts unrecognised by virtue of the transitional provision at paragraph 155(b).  
 
153  
IAS 8 applies where an entity first adopts IAS 19 for employee benefits other than those relating to defined benefit plans.  
 
154  
How to measure the transitional liability for defined benefit plans on first adopting IAS 19.  
 
155  
How to account for a transitional liability that is greater than the liability that would have been recognised at the same date under the previous accounting policy.  
 
156  
How to account for a transitional liability that is less than the liability that would have been recognised at the same date under the previous accounting policy.  
 
157  
Effective date of IAS 19.  
 
158  
Reference to superseded IAS 19.  
 
159  
Operative date for revised definition of plant assets in paragraph 7  
 
159A  
Operative date of the amendment to paragraph 58A.  
 
160  
IAS 8 applies to changes in accounting policies resulting from the application of paragraphs 159 and 159A.