| 28.1 | This section applies to employee benefits, except for share-based payment transactions, (see Section 26 Share-based Payment). Employee benefits include: [AMD 503] |
| (a) | short-term employee benefits, which are employee benefits (other than termination benefits) that are expected to be settled wholly before twelve months after the end of the reporting period in which the employees render the related service; |
| (b) | post-employment benefits, which are employee benefits (other than termination benefits and short-term employee benefits) that are payable after the completion of employment; |
| (c) | other long-term employee benefits, which are all employee benefits, other than short-term employee benefits, post-employment benefits and termination benefits; or |
| (d) | termination benefits, which are employee benefits provided in exchange for the termination of an employee's employment as a result of either: |
| (i) | an entity's decision to terminate an employee's employment before the normal retirement date; or |
| (ii) | an employee's decision to accept voluntary redundancy in exchange for those benefits. |
| 28.2 | [Deleted] |
| AMD 503 Amendment Paragraph 28.1 amended by Amendments to FRS 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland – Triennial review 2017 – Incremental improvements and clarifications (issued December 2017) Effective date 01/01/2019 Previous text 28.1 Employee benefits are all forms of consideration given by an entity in exchange for service rendered by employees, including directors and management. This section applies to all employee benefits, except for share-based payment transactions, which are covered by Section 26 Share-based Payment. Employee benefits covered by this section will be one of the following four types: |
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