Abiblo Finance - Accrued Benefits
Accrued benefits are benefits due under a defined benefit pension scheme based on service up to a given time.
Accrued benefit is calculated in relation to the protected final earning or current earnings
Financial Reporting Standard 17, Retirement Benefits and Statement of Standard Accounting Practice 24, contains rules and regulations on accounting for pension costs in financial accounts.
It is important for listed companies from January 2005 to comply with International Accounting Standard 19, Employee Benefits.
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