Note 8 People and Relationships
Note 8A: Employee Provisions |
2019 |
2018 |
---|---|---|
$ |
$ |
|
Annual leave |
261,387 |
312,242 |
Long service leave |
578,786 |
605,582 |
Total employee provisions |
840,174 |
917,824 |
Employee provisions are expected to be settled |
||
No more than 12 months |
477,625 |
506,121 |
More than 12 months |
362,549 |
411,703 |
Total employee provisions |
840,174 |
917,824 |
Accounting Policy
Leave The liability for employee benefits includes provision for annual leave and long service leave.No provision has been made for sick leave as all sick leave in non-vesting and the average sick leave taken in future years by employees of the Army and the Air Force Canteen Service is estimated to be less than the annual entitlement for sick leave.
The leave liabilities are calculated on the basis of the employees’ remuneration at the estimated salary rates that will be applied at the time the leave is taken, including the Army and Air Force Canteen Service’s employer superannuation contribution rates to the extent that the leave is likely to be taken during service rather than paid out on termination.
Liabilities are short term employee benefits’ (as defined in AASB 119 Employee Benefits) and termination benefits expected within twelve months of the end of reporting period are measured at their nominal amounts.The nominal amount is calculated with regard to the rates expected to be paid on settlement of the liability.
Other long-term employee benefits are measured as net total of the present value of the defined benefit obligation at the end of the reporting period.
Visit
https://www.transparency.gov.au/annual-reports/army-and-air-force-canteen-service/reporting-year/2018-2019-46