QUESTION 5:

To answer QUESTION 5 you will need to access a copy of the Woolworths 2019 Group Annual Report.

(a)What is Woolworths accounting policy for Employee Benefits? How does Woolworths accounting policy for Employee Benefits compare to what is required by AASB 119 for employee benefits?

(a)What assumptions does Woolworths make in estimating the value of employee benefits?

(c)What were the types of Employee benefits expense from continuing operations disclosed by Woolworths in their 2019 annual report?and How much did Woolworths expense in the year ended 2019 for Employee benefits expense from continuing operations?

(d)How does Woolworths calculate the net defined benefit obligation that is recognised in Woolworths Consolidated Statement of Financial Position? How does this compare to the requirements of AASB 2?