Entities with defined benefit plans may be affected by the removal of the corridor method of accounting for actuarial gains and losses and changes to presentation of actuarial gains and losses in other comprehensive income, as well as to the treatment of taxes payable by a defined benefit plan.
- Actuarial gains and losses recognised immediately in other comprehensive income
- Expected return on plan assets recognised in profit or loss calculated based on rate used to discount the defined benefit obligation; for most entities this will change net profit
- New requirements effective for annual periods beginning on or after 1 January 2013.