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IAS 19 or International Accounting Standard Nineteen rule concerning employee benefits under the IFRS rules set by the International Accounting Standards Board. In this case, "employee benefits" includes wages and salaries as well as pensions, life insurance, and other perquisites. The rules in IAS 19 explains the accounting for longer term ...
In financial accounting under International Financial Reporting Standards (IFRS), a provision is an account that records a present liability of an entity. The recording of the liability in the entity's balance sheet is matched to an appropriate expense account on the entity's income statement. In U.S. Generally Accepted Accounting Principles (U ...
e. International Financial Reporting Standards, commonly called IFRS, are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB). [1] They constitute a standardised way of describing the company's financial performance and position so that company financial statements are understandable and ...
Take-or-pay contract. A take-or-pay contract, or a take-or-pay clause within a contract, is a payment obligation agreed between companies and their suppliers or customers. With this kind of contract, the company/customer either takes the product from the supplier or pays the supplier a penalty. For any product the company takes, they agree to ...
v. t. e. A princely state (also called native state or Indian state) was a nominally sovereign [1] entity of the British Indian Empire that was not directly governed by the British, but rather by an Indian ruler under a form of indirect rule, [2] subject to a subsidiary alliance and the suzerainty or paramountcy of the British crown .
v. t. e. In finance, an accrual ( accumulation) of something is the adding together of interest or different investments over a period of time. The term may also refer to forward provision made at the end of a financial period for work which has been done but not yet invoiced for.
The Maternity (Amendment) Bill 2017, an amendment to the Maternity Benefit Act, 1961, was passed in Rajya Sabha on 11 August 2016, in Lok Sabha on 9 March 2017, [3] and received an assent from President of India on 27 March 2017. [4] The Maternity Benefit Act, 1961 protects the employment of women during the time of her maternity and entitles ...
Provision. The central provision of the convention is found in Article 3, which states that people to whom the convention applies shall be entitled to an annual paid holiday of a specified minimum length, and that although the ratifying state may select the length of the minimum holiday, it "shall in no case be less than three working weeks for one year of service".