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What is mean by asset cealing In Ind As-19

Financial Reporting

Sir ,please elaborate What is the asset ceiling in Ind AS-19 While reading the book I'm not able to understand, but if I want to revisit the lecture and revise I'm not able to find where it there kindly please say

Surya Prakash

CA Final

★ 19K+

27-Jul-24 19:16

Answers (2)

Kindly Please Elaborate Meaning what is mean by Asset Cealing

Thread Starter

Surya Prakash

CA Final

★ 19K+

27-Jul-24 19:17

Suppose a company has an overfunded defined benefit plan with a net defined benefit asset of ₹50 lakh. However, after evaluating the economic benefits, the company determines that it can only recover ₹30 lakh through future refunds or contribution reductions. The asset ceiling is ₹30 lakh, so the company will recognize only ₹30 lakh on its balance sheet.

CA Suraj Lakhotia

Admin

31-Jul-24 14:44

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