(a)

profit or loss;

(b)

total other comprehensive income;

(c)

comprehensive income for the period, being the total of profit or loss and other comprehensive income.

(a)

profit or loss for the period attributable to:

(b)

comprehensive income for the period attributable to:

(a)

revenue;

(b)

finance costs;

(c)

share of the profit or loss of associates and joint ventures accounted for using the equity method;

(d)

tax expense;

(e)

[deleted]

(ea)

a single amount for the total of discontinued operations (see IFRS 5).

(f)–(i)

[deleted]

(a)

will not be reclassified subsequently to profit or loss; and

(b)

will be reclassified subsequently to profit or loss when specific conditions are met.

(a)

net of related tax effects, or

(b)

before related tax effects with one amount shown for the aggregate amount of income tax relating to those.

(c)

for fair value measurements in Level 3 of the fair value hierarchy, a reconciliation from the beginning balances to the ending balances, disclosing separately changes during the period attributable to the following:

…

(d)

the amount of total gains or losses for the period in (c)(i) above included in profit or loss that are attributable to gains or losses relating to those assets and liabilities held at the end of the reporting period and a description of where those gains or losses are presented in the statement(s) of profit or loss and other comprehensive income.

(b)

income and expenses for each statement presenting profit or loss and other comprehensive income (ie including comparatives) shall be translated at exchange rates at the dates of the transactions; and

(c)

…

(b)

a condensed statement or condensed statements of profit or loss and other comprehensive income;

(c)

…

(b)

statements of profit or loss and other comprehensive income for the current interim period and cumulatively for the current financial year to date, with comparative statements of profit or loss and other comprehensive income for the comparable interim periods (current and year-to-date) of the immediately preceding financial year. As permitted by IAS 1 (as amended in 2011), an interim report may present for each period a statement or statements of profit or loss and other comprehensive income.

(a)

a liability when an employee has provided service in exchange for employee benefits to be paid in the future; and

(b)

an expense when the entity consumes the economic benefit arising from service provided by an employee in exchange for employee benefits.

(a)

under formal plans or other formal agreements between an entity and individual employees, groups of employees or their representatives;

(b)

under legislative requirements, or through industry arrangements, whereby entities are required to contribute to national, state, industry or other multi-employer plans; or

(c)

by those informal practices that give rise to a constructive obligation. Informal practices give rise to a constructive obligation where the entity has no realistic alternative but to pay employee benefits. An example of a constructive obligation is where a change in the entity’s informal practices would cause unacceptable damage to its relationship with employees.

(a)

short-term employee benefits, such as the following, if expected to be settled wholly before twelve months after the end of the annual reporting period in which the employees render the related services:

(b)

post-employment benefits, such as the following:

(c)

other long-term employee benefits, such as the following:

(d)

termination benefits.

Definitions of employee benefits

Employee benefits are all forms of consideration given by an entity in exchange for service rendered by employees or for the termination of employment.

Short-term employee benefits are employee benefits (other than termination benefits) that are expected to be settled wholly before twelve months after the end of the annual reporting period in which the employees render the related service.

Post-employment benefits are employee benefits (other than termination benefits and short-term employee benefits) that are payable after the completion of employment.

Other long-term employee benefits are all employee benefits other than short-term employee benefits, post-employment benefits and termination benefits.

Termination benefits are employee benefits provided in exchange for the termination of an employee’s employment as a result of either:

Definitions relating to classification of plans

Post-employment benefit plans are formal or informal arrangements under which an entity provides post-employment benefits for one or more employees.

Defined contribution plans are post-employment benefit plans under which an entity pays fixed contributions into a separate entity (a fund) and will have no legal or constructive obligation to pay further contributions if the fund does not hold sufficient assets to pay all employee benefits relating to employee service in the current and prior periods.

Defined benefit plans are post-employment benefit plans other than defined contribution plans.

Multi-employer plans are defined contribution plans (other than state plans) or defined benefit plans (other than state plans) that:

Definitions relating to the net defined benefit liability (asset)

The net defined benefit liability (asset) is the deficit or surplus, adjusted for any effect of limiting a net defined benefit asset to the asset ceiling.

The deficit or surplus is:

The asset ceiling is the present value of any economic benefits available in the form of refunds from the plan or reductions in future contributions to the plan.

The present value of a defined benefit obligation is the present value, without deducting any plan assets, of expected future payments required to settle the obligation resulting from employee service in the current and prior periods.

Plan assets comprise:

Assets held by a long-term employee benefit fund are assets (other than non-transferable financial instruments issued by the reporting entity) that:

A qualifying insurance policy is an insurance policy (*1) issued by an insurer that is not a related party (as defined in IAS 24 Related Party Disclosures) of the reporting entity, if the proceeds of the policy:

Fair value is the amount for which an asset could be exchanged or a liability settled between knowledgeable, willing parties in an arm’s length transaction.

Definitions relating to defined benefit cost

Service cost comprises:

Net interest on the net defined benefit liability (asset) is the change during the period in the net defined benefit liability (asset) that arises from the passage of time.

Remeasurements of the net defined benefit liability (asset) comprise:

Actuarial gains and losses are changes in the present value of the defined benefit obligation resulting from:

The return on plan assets is interest, dividends and other income derived from the plan assets, together with realised and unrealised gains or losses on the plan assets, less:

A settlement is a transaction that eliminates all further legal or constructive obligations for part or all of the benefits provided under a defined benefit plan, other than a payment of benefits to, or on behalf of, employees that is set out in the terms of the plan and included in the actuarial assumptions.

(a)

wages, salaries and social security contributions;

(b)

paid annual leave and paid sick leave;

(c)

profit-sharing and bonuses; and

(d)

non-monetary benefits (such as medical care, housing, cars and free or subsidised goods or services) for current employees.

(a)

as a liability (accrued expense), after deducting any amount already paid. If the amount already paid exceeds the undiscounted amount of the benefits, an entity shall recognise that excess as an asset (prepaid expense) to the extent that the prepayment will lead to, for example, a reduction in future payments or a cash refund.

(b)

as an expense, unless another IFRS requires or permits the inclusion of the benefits in the cost of an asset (see, for example, IAS 2 Inventories and IAS 16 Property, Plant and Equipment).

(a)

in the case of accumulating paid absences, when the employees render service that increases their entitlement to future paid absences.

(b)

in the case of non-accumulating paid absences, when the absences occur.

(a)

accumulating; and

(b)

non-accumulating.

(a)

the entity has a present legal or constructive obligation to make such payments as a result of past events; and

(b)

a reliable estimate of the obligation can be made.

(a)

the formal terms of the plan contain a formula for determining the amount of the benefit;

(b)

the entity determines the amounts to be paid before the financial statements are authorised for issue; or

(c)

past practice gives clear evidence of the amount of the entity’s constructive obligation.

(a)

retirement benefits (eg pensions and lump sum payments on retirement); and

(b)

other post-employment benefits, such as post-employment life insurance and post-employment medical care.

(a)

a plan benefit formula that is not linked solely to the amount of contributions and requires the entity to provide further contributions if assets are insufficient to meet the benefits in the plan benefit formula;

(b)

a guarantee, either indirectly through a plan or directly, of a specified return on contributions; or

(c)

those informal practices that give rise to a constructive obligation. For example, a constructive obligation may arise where an entity has a history of increasing benefits for former employees to keep pace with inflation even where there is no legal obligation to do so.

(a)

the entity’s obligation is to provide the agreed benefits to current and former employees; and

(b)

actuarial risk (that benefits will cost more than expected) and investment risk fall, in substance, on the entity. If actuarial or investment experience are worse than expected, the entity’s obligation may be increased.

(a)

account for its proportionate share of the defined benefit obligation, plan assets and cost associated with the plan in the same way as for any other defined benefit plan; and

(b)

disclose the information required by paragraphs 135–148 (excluding paragraph 148(d)).

(a)

account for the plan in accordance with paragraphs 51 and 52 as if it were a defined contribution plan; and

(b)

disclose the information required by paragraph 148.

(a)

the plan is financed on a pay-as-you-go basis: contributions are set at a level that is expected to be sufficient to pay the benefits falling due in the same period; and future benefits earned during the current period will be paid out of future contributions; and

(b)

employees’ benefits are determined by the length of their service and the participating entities have no realistic means of withdrawing from the plan without paying a contribution for the benefits earned by employees up to the date of withdrawal. Such a plan creates actuarial risk for the entity: if the ultimate cost of benefits already earned at the end of the reporting period is more than expected, the entity will have either to increase its contributions or to persuade employees to accept a reduction in benefits. Therefore, such a plan is a defined benefit plan.

(a)

the plan exposes the participating entities to actuarial risks associated with the current and former employees of other entities, with the result that there is no consistent and reliable basis for allocating the obligation, plan assets and cost to individual entities participating in the plan; or

(b)

the entity does not have access to sufficient information about the plan to satisfy the requirements of this Standard.

(a)

to pay the employee benefits directly when they fall due; or

(b)

to pay further amounts if the insurer does not pay all future employee benefits relating to employee service in the current and prior periods.

(a)

accounts for a qualifying insurance policy as a plan asset (see paragraph 8); and

(b)

recognises other insurance policies as reimbursement rights (if the policies satisfy the criterion in paragraph 116).

(a)

as a liability (accrued expense), after deducting any contribution already paid. If the contribution already paid exceeds the contribution due for service before the end of the reporting period, an entity shall recognise that excess as an asset (prepaid expense) to the extent that the prepayment will lead to, for example, a reduction in future payments or a cash refund.

(b)

as an expense, unless another IFRS requires or permits the inclusion of the contribution in the cost of an asset (see, for example, IAS 2 and IAS 16).

(a)

determining the deficit or surplus. This involves:

(b)

determining the amount of the net defined benefit liability (asset) as the amount of the deficit or surplus determined in (a), adjusted for any effect of limiting a net defined benefit asset to the asset ceiling (see paragraph 64).

(c)

determining amounts to be recognised in profit or loss:

(d)

determining the remeasurements of the net defined benefit liability (asset), to be recognised in other comprehensive income, comprising:

(a)

the surplus in the defined benefit plan; and

(b)

the asset ceiling, determined using the discount rate specified in paragraph 83.

(a)

the entity controls a resource, which is the ability to use the surplus to generate future benefits;

(b)

that control is a result of past events (contributions paid by the entity and service rendered by the employee); and

(c)

future economic benefits are available to the entity in the form of a reduction in future contributions or a cash refund, either directly to the entity or indirectly to another plan in deficit. The asset ceiling is the present value of those future benefits.

(a)

to apply an actuarial valuation method (see paragraphs 67–69);

(b)

to attribute benefit to periods of service (see paragraphs 70–74); and

(c)

to make actuarial assumptions (see paragraphs 75–98).

1

2

3

(a)

the date when service by the employee first leads to benefits under the plan (whether or not the benefits are conditional on further service) until

(b)

the date when further service by the employee will lead to no material amount of further benefits under the plan, other than from further salary increases.

1

A benefit of CU100 is attributed to each year. The current service cost is the present value of CU100. The present value of the defined benefit obligation is the present value of CU100, multiplied by the number of years of service up to the end of the reporting period.

If the benefit is payable immediately when the employee leaves the entity, the current service cost and the present value of the defined benefit obligation reflect the date at which the employee is expected to leave. Thus, because of the effect of discounting, they are less than the amounts that would be determined if the employee left at the end of the reporting period.

2

Benefit equal to the present value, at the expected retirement date, of a monthly pension of 0,2 per cent of the estimated final salary payable from the expected retirement date until the expected date of death is attributed to each year of service. The current service cost is the present value of that benefit. The present value of the defined benefit obligation is the present value of monthly pension payments of 0,2 per cent of final salary, multiplied by the number of years of service up to the end of the reporting period. The current service cost and the present value of the defined benefit obligation are discounted because pension payments begin at the age of 65.

1

A benefit of CU100 is attributed to each year. In each of the first ten years, the current service cost and the present value of the obligation reflect the probability that the employee may not complete ten years of service.

2

No benefit is attributed to service before the age of 25 because service before that date does not lead to benefits (conditional or unconditional). A benefit of CU100 is attributed to each subsequent year.

1

A benefit of CU100 (CU1,000 divided by ten) is attributed to each of the first ten years.

The current service cost in each of the first ten years reflects the probability that the employee may not complete ten years of service. No benefit is attributed to subsequent years.

2

For employees who join before the age of 35, service first leads to benefits under the plan at the age of 35 (an employee could leave at the age of 30 and return at the age of 33, with no effect on the amount or timing of benefits). Those benefits are conditional on further service. Also, service beyond the age of 55 will lead to no material amount of further benefits. For these employees, the entity attributes benefit of CU100 (CU2,000 divided by twenty) to each year from the age of 35 to the age of 55.

For employees who join between the ages of 35 and 45, service beyond twenty years will lead to no material amount of further benefits. For these employees, the entity attributes benefit of 100 (2,000 divided by twenty) to each of the first twenty years.

For an employee who joins at the age of 55, service beyond ten years will lead to no material amount of further benefits. For this employee, the entity attributes benefit of CU200 (CU2,000 divided by ten) to each of the first ten years.

For all employees, the current service cost and the present value of the obligation reflect the probability that the employee may not complete the necessary period of service.

3

Under the plan’s benefit formula, the entity attributes 4 per cent of the present value of the expected medical costs (40 per cent divided by ten) to each of the first ten years and 1 per cent (10 per cent divided by ten) to each of the second ten years. The current service cost in each year reflects the probability that the employee may not complete the necessary period of service to earn part or all of the benefits. For employees expected to leave within ten years, no benefit is attributed.

4

Service in later years will lead to a materially higher level of benefit than in earlier years. Therefore, for employees expected to leave after twenty or more years, the entity attributes benefit on a straight-line basis under paragraph 71. Service beyond twenty years will lead to no material amount of further benefits. Therefore, the benefit attributed to each of the first twenty years is 2,5 per cent of the present value of the expected medical costs (50 per cent divided by twenty).

For employees expected to leave between ten and twenty years, the benefit attributed to each of the first ten years is 1 per cent of the present value of the expected medical costs.

For these employees, no benefit is attributed to service between the end of the tenth year and the estimated date of leaving.

For employees expected to leave within ten years, no benefit is attributed.

(a)

for the purpose of paragraph 70(b), salary increases do not lead to further benefits, even though the amount of the benefits is dependent on final salary; and

(b)

the amount of benefit attributed to each period is a constant proportion of the salary to which the benefit is linked.

(a)

demographic assumptions about the future characteristics of current and former employees (and their dependants) who are eligible for benefits. Demographic assumptions deal with matters such as:

(b)

financial assumptions, dealing with items such as:

(a)

the benefits set out in the terms of the plan (or resulting from any constructive obligation that goes beyond those terms) at the end of the reporting period;

(b)

any estimated future salary increases that affect the benefits payable;

(c)

the effect of any limit on the employer’s share of the cost of the future benefits;

(d)

contributions from employees or third parties that reduce the ultimate cost to the entity of those benefits; and

(e)

estimated future changes in the level of any state benefits that affect the benefits payable under a defined benefit plan, if, and only if, either:

(a)

the entity has a history of increasing benefits, for example, to mitigate the effects of inflation, and there is no indication that this practice will change in the future;

(b)

the entity is obliged, by either the formal terms of a plan (or a constructive obligation that goes beyond those terms) or legislation, to use any surplus in the plan for the benefit of plan participants (see paragraph 108(c)); or

(c)

benefits vary in response to a performance target or other criteria. For example, the terms of the plan may state that it will pay reduced benefits or require additional contributions from employees if the plan assets are insufficient. The measurement of the obligation reflects the best estimate of the effect of the performance target or other criteria.

(a)

past service cost, to the extent that they change benefits for service before the change; and

(b)

current service cost for periods after the change, to the extent that they change benefits for service after the change.

(a)

the estimated life of the entity; and

(b)

the estimated life of the plan.

(a)

current and past service cost (if changes in employee contributions are not set out in the formal terms of a plan and do not arise from a constructive obligation); or

(b)

actuarial gains and losses (if changes in employee contributions are set out in the formal terms of a plan, or arise from a constructive obligation).

(a)

when the plan amendment or curtailment occurs; and

(b)

when the entity recognises related restructuring costs (see IAS 37) or termination benefits (see paragraph 165).

(a)

the effect of differences between actual and previously assumed salary increases on the obligation to pay benefits for service in prior years (there is no past service cost because actuarial assumptions allow for projected salaries);

(b)

underestimates and overestimates of discretionary pension increases when an entity has a constructive obligation to grant such increases (there is no past service cost because actuarial assumptions allow for such increases);

(c)

estimates of benefit improvements that result from actuarial gains or from the return on plan assets that have been recognised in the financial statements if the entity is obliged, by either the formal terms of a plan (or a constructive obligation that goes beyond those terms) or legislation, to use any surplus in the plan for the benefit of plan participants, even if the benefit increase has not yet been formally awarded (there is no past service cost because the resulting increase in the obligation is an actuarial loss, see paragraph 88); and

(d)

the increase in vested benefits (ie benefits that are not conditional on future employment, see paragraph 72) when, in the absence of new or improved benefits, employees complete vesting requirements (there is no past service cost because the entity recognised the estimated cost of benefits as current service cost as the service was rendered).

(a)

the present value of the defined benefit obligation being settled, as determined on the date of settlement; and

(b)

the settlement price, including any plan assets transferred and any payments made directly by the entity in connection with the settlement.

(a)

recognise its right to reimbursement as a separate asset. The entity shall measure the asset at fair value.

(b)

disaggregate and recognise changes in the fair value of its right to reimbursement in the same way as for changes in the fair value of plan assets (see paragraphs 124 and 125). The components of defined benefit cost recognised in accordance with paragraph 120 may be recognised net of amounts relating to changes in the carrying amount of the right to reimbursement.

(a)

service cost (see paragraphs 66–112) in profit or loss;

(b)

net interest on the net defined benefit liability (asset) (see paragraphs 123–126) in profit or loss; and

(c)

remeasurements of the net defined benefit liability (asset) (see paragraphs 127–130) in other comprehensive income.

(a)

actuarial gains and losses (see paragraphs 128 and 129);

(b)

the return on plan assets (see paragraph 130), excluding amounts included in net interest on the net defined benefit liability (asset) (see paragraph 125); and

(c)

any change in the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability (asset) (see paragraph 126).

(a)

unexpectedly high or low rates of employee turnover, early retirement or mortality or of increases in salaries, benefits (if the formal or constructive terms of a plan provide for inflationary benefit increases) or medical costs;

(b)

the effect of changes to assumptions concerning benefit payment options;

(c)

the effect of changes in estimates of future employee turnover, early retirement or mortality or of increases in salaries, benefits (if the formal or constructive terms of a plan provide for inflationary benefit increases) or medical costs; and

(d)

the effect of changes in the discount rate.

(a)

has a legally enforceable right to use a surplus in one plan to settle obligations under the other plan; and

(b)

intends either to settle the obligations on a net basis, or to realise the surplus in one plan and settle its obligation under the other plan simultaneously.

(a)

explains the characteristics of its defined benefit plans and risks associated with them (see paragraph 139);

(b)

identifies and explains the amounts in its financial statements arising from its defined benefit plans (see paragraphs 140–144); and

(c)

describes how its defined benefit plans may affect the amount, timing and uncertainty of the entity’s future cash flows (see paragraphs 145–147).

(a)

the level of detail necessary to satisfy the disclosure requirements;

(b)

how much emphasis to place on each of the various requirements;

(c)

how much aggregation or disaggregation to undertake; and

(d)

whether users of financial statements need additional information to evaluate the quantitative information disclosed.

(a)

between amounts owing to active members, deferred members, and pensioners.

(b)

between vested benefits and accrued but not vested benefits.

(c)

between conditional benefits, amounts attributable to future salary increases and other benefits.

(a)

different geographical locations.

(b)

different characteristics such as flat salary pension plans, final salary pension plans or post-employment medical plans.

(c)

different regulatory environments.

(d)

different reporting segments.

(e)

different funding arrangements (eg wholly unfunded, wholly or partly funded).

(a)

information about the characteristics of its defined benefit plans, including:

(b)

a description of the risks to which the plan exposes the entity, focused on any unusual, entity-specific or plan-specific risks, and of any significant concentrations of risk. For example, if plan assets are invested primarily in one class of investments, eg property, the plan may expose the entity to a concentration of property market risk.

(c)

a description of any plan amendments, curtailments and settlements.

(a)

the net defined benefit liability (asset), showing separate reconciliations for:

(b)

any reimbursement rights. An entity shall also describe the relationship between any reimbursement right and the related obligation.

(a)

current service cost.

(b)

interest income or expense.

(c)

remeasurements of the net defined benefit liability (asset), showing separately:

(d)

past service cost and gains and losses arising from settlements. As permitted by paragraph 100, past service cost and gains and losses arising from settlements need not be distinguished if they occur together.

(e)

the effect of changes in foreign exchange rates.

(f)

contributions to the plan, showing separately those by the employer and by plan participants.

(g)

payments from the plan, showing separately the amount paid in respect of any settlements.

(h)

the effects of business combinations and disposals.

(a)

cash and cash equivalents;

(b)

equity instruments (segregated by industry type, company size, geography etc);

(c)

debt instruments (segregated by type of issuer, credit quality, geography etc);

(d)

real estate (segregated by geography etc);

(e)

derivatives (segregated by type of underlying risk in the contract, for example, interest rate contracts, foreign exchange contracts, equity contracts, credit contracts, longevity swaps etc);

(f)

investment funds (segregated by type of fund);

(g)

asset-backed securities; and

(h)

structured debt.

(a)

a sensitivity analysis for each significant actuarial assumption (as disclosed under paragraph 144) as of the end of the reporting period, showing how the defined benefit obligation would have been affected by changes in the relevant actuarial assumption that were reasonably possible at that date.

(b)

the methods and assumptions used in preparing the sensitivity analyses required by (a) and the limitations of those methods.

(c)

changes from the previous period in the methods and assumptions used in preparing the sensitivity analyses, and the reasons for such changes.

(a)

a description of any funding arrangements and funding policy that affect future contributions.

(b)

the expected contributions to the plan for the next annual reporting period.

(c)

information about the maturity profile of the defined benefit obligation. This will include the weighted average duration of the defined benefit obligation and may include other information about the distribution of the timing of benefit payments, such as a maturity analysis of the benefit payments.

(a)

a description of the funding arrangements, including the method used to determine the entity’s rate of contributions and any minimum funding requirements.

(b)

a description of the extent to which the entity can be liable to the plan for other entities’ obligations under the terms and conditions of the multi-employer plan.

(c)

a description of any agreed allocation of a deficit or surplus on:

(d)

if the entity accounts for that plan as if it were a defined contribution plan in accordance with paragraph 34, it shall disclose the following, in addition to the information required by (a)–(c) and instead of the information required by paragraphs 139–147:

(a)

the contractual agreement or stated policy for charging the net defined benefit cost or the fact that there is no such policy.

(b)

the policy for determining the contribution to be paid by the entity.

(c)

if the entity accounts for an allocation of the net defined benefit cost as noted in paragraph 41, all the information about the plan as a whole required by paragraphs 135–147.

(d)

if the entity accounts for the contribution payable for the period as noted in paragraph 41, the information about the plan as a whole required by paragraphs 135–137, 139, 142–144 and 147(a) and (b).

(a)

that group entity’s financial statements separately identify and disclose the information required about the plan; and

(b)

that group entity’s financial statements are available to users of the financial statements on the same terms as the financial statements of the entity and at the same time as, or earlier than, the financial statements of the entity.

(a)

related party transactions with post-employment benefit plans; and

(b)

post-employment benefits for key management personnel.

(a)

long-term paid absences such as long-service or sabbatical leave;

(b)

jubilee or other long-service benefits;

(c)

long-term disability benefits;

(d)

profit-sharing and bonuses; and

(e)

deferred remuneration.

(a)

service cost (see paragraphs 66–112);

(b)

net interest on the net defined benefit liability (asset) (see paragraphs 123–126); and

(c)

remeasurements of the net defined benefit liability (asset) (see paragraphs 127–130).

(a)

enhancement of post-employment benefits, either indirectly through an employee benefit plan or directly.

(b)

salary until the end of a specified notice period if the employee renders no further service that provides economic benefits to the entity.

(a)

the benefit is conditional on future service being provided (including benefits that increase if further service is provided).

(b)

the benefit is provided in accordance with the terms of an employee benefit plan.

(a)

when the entity can no longer withdraw the offer of those benefits; and

(b)

when the entity recognises costs for a restructuring that is within the scope of IAS 37 and involves the payment of termination benefits.

(a)

when the employee accepts the offer; and

(b)

when a restriction (eg a legal, regulatory or contractual requirement or other restriction) on the entity’s ability to withdraw the offer takes effect. This would be when the offer is made, if the restriction existed at the time of the offer.

(a)

Actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made.

(b)

The plan identifies the number of employees whose employment is to be terminated, their job classifications or functions and their locations (but the plan need not identify each individual employee) and the expected completion date.

(c)

The plan establishes the termination benefits that employees will receive in sufficient detail that employees can determine the type and amount of benefits they will receive when their employment is terminated.

(a)

if the termination benefits are expected to be settled wholly before twelve months after the end of the annual reporting period in which the termination benefit is recognised, the entity shall apply the requirements for short-term employee benefits.

(b)

if the termination benefits are not expected to be settled wholly before twelve months after the end of the annual reporting period, the entity shall apply the requirements for other long-term employee benefits.

(a)

an entity need not adjust the carrying amount of assets outside the scope of this Standard for changes in employee benefit costs that were included in the carrying amount before the date of initial application. The date of initial application is the beginning of the earliest prior period presented in the first financial statements in which the entity adopts this Standard.

(b)

in financial statements for periods beginning before 1 January 2014, an entity need not present comparative information for the disclosures required by paragraph 145 about the sensitivity of the defined benefit obligation.