CLO3- Required: Calculate the leave pay provision for each type of employee and maternity provisions for the year ended 31 December 20X8. (Show Calculation. No Calculations No Marks) 4 points You are the financial manager of Palestine Ltd, a company which researches generic medicines. One of your duties involves dealing with any aspects of IAS 19. You have the following information available to you for the year ended 31 December 20X8: Type Of Gross Maximum Maximum Leave Leave Taken Employee Day Number Leave Allowed in Current of Allowed for to Carry Year (days) Employees each employee Forward (days) for each per for each employee year (days) employee Pay per Directors $1,342 8 20 15 4 690 55 18 13 11 Laboratory technicians 16 23 10 11 Office personnel 422 The company policy is that all leave is accumulating but is non-vesting Experience indicates that only 40% of the directors will use the past lave due to them, while technicians and office personnel still employed in 20x9 will use 90% 5 laboratory workers resigned during 2018. No other employees are expected to resign Maternity Leave: Palestine Ltd has the following number of female employees (included in the number of employees above): 6 directors, 20 laboratory workers and 16 office employees Female employees are allowed 90 days paid maternity leave per annum. This leave is non-accumulating and is unable to be paid out in cash if not taken! CLO3- Required: Calculate the leave pay provision for each type of employee and maternity provisions for the year ended 31 December 20X8. (Show Calculation. No Calculations No Marks) 4 points You are the financial manager of Palestine Ltd, a company which researches generic medicines. One of your duties involves dealing with any aspects of IAS 19. You have the following information available to you for the year ended 31 December 20X8: Type Of Gross Maximum Maximum Leave Leave Taken Employee Day Number Leave Allowed in Current of Allowed for to Carry Year (days) Employees each employee Forward (days) for each per for each employee year (days) employee Pay per Directors $1,342 8 20 15 4 690 55 18 13 11 Laboratory technicians 16 23 10 11 Office personnel 422 The company policy is that all leave is accumulating but is non-vesting Experience indicates that only 40% of the directors will use the past lave due to them, while technicians and office personnel still employed in 20x9 will use 90% 5 laboratory workers resigned during 2018. No other employees are expected to resign Maternity Leave: Palestine Ltd has the following number of female employees (included in the number of employees above): 6 directors, 20 laboratory workers and 16 office employees Female employees are allowed 90 days paid maternity leave per annum. This leave is non-accumulating and is unable to be paid out in cash if not taken
