AS-15 Employee Benefits Applicability, Accounting - Auditing

[krishna besta]

Dear Sir,

Please Clarify the AS-15 Applicability. we have Newly started Division in F.Y 2011-12. But Total Entity is started long back. In new division having employees more than 100 employees and division have a Earned leave facility given to the employees.

In the above critieria is applicable AS-15. Is it required to make provision in the books of accounts in the F.Y 2011-12.

Regards,

Krishna.B

Posts / Replies

[CA GOPALJI AGRAWAL]

The applicability of AS-15 would be seen from the Entity point of view and not from the point of division only. It seems that you are a non SMC hence the provisions of AS-15 would apply fully in your case. So provisions for both short term and long term benefits have to provided.