Answered step by step
Verified Expert Solution
Question
1 Approved Answer
employee and maternity provisions for the year ended 31 December 20X8. (Show Calculation, No Calculations No Marks) You are the financial manager of Palestine
employee and maternity provisions for the year ended 31 December 20X8. (Show Calculation, No Calculations No Marks) 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: Leave Taken Type Of Employee Pay per Day Gross Number of Maximum Leave Allowed for Maximum Leave Allowed Employees each employee per to Carry Forward (days) for each in Current Year (days) for each employee year (days) employee Directors $1,342 8 20 15 4 Laboratory technicians 690 55 18 13 11 Office personnel 422 25 16 11 10 - 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 leave 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!
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started