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Pension Accounting: How Large Australian Companies are ‘Paying Up’ for Superannuation
Author(s) -
Gordon Isabel
Publication year - 2001
Publication title -
australian accounting review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.551
H-Index - 36
eISSN - 1835-2561
pISSN - 1035-6908
DOI - 10.1111/j.1835-2561.2001.tb00180.x
Subject(s) - accounting , pension , business , finance , accounting standard , accounting information system , financial accounting
In Australia accounting requirements for companies to report on superannuation fund costs substantially lag those overseas and are unsettled. Superannuation commitments for defined‐benefit funds are required to be disclosed by sponsoring employers, although corporations are not required to disclose interests in defined‐contribution funds. This paper documents the extent of companies' annual report disclosures of interests in defined‐benefit superannuation funds. The paper also reviews the debate on pension accounting overseas and examines the impact of AASB 1028 on the reporting practices of sponsoring firms.