FRS 102: Employee benefits under UK GAAP
FRS 102 Section 28 sets out the requirements that apply to short-term and long-term employee benefits, post-employment benefits and termination benefits.
The standard
The requirements regarding employee benefits are set out as part of FRS 102. However, individual sections of the standard should not be looked at in isolation as other parts may be relevant.
FRS 102 is regularly updated and amended by the Financial Reporting Council (FRC). For the full text of FRS 102, guidance on which version of the standard to apply and notes on recent amendments, see our main FRS 102 page.
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Steve Collings
Financial Reporting for Unlisted Companies in the UK and Republic of Ireland
2024
A detailed, practical chapter on financial reporting of employee benefits under FRS 102, section 28 and FRS 105, section 23. Topics covered include: short-term employee benefits, post-employment benefit plans (including pensions), termination benefits, group plans and disclosure requirements, with worked examples.
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Steve Collings
Small Company Financial Reporting
October 2023
A chapter on employee benefits within the small companies' financial reporting framework and the micro-entities legislation, written by a specialist on small company reporting issues. FRS 102 Section 28 and topics including the measurement of short-term benefits, short-term compensated absences, profit-sharing and bonuses, post-employment benefits, accounting for a defined benefit pension plan, group defined benefit pension plans and termination benefits are discussed, along with helpful real-life examples.
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Steve Collings
Practical Guide to UK Accounting and Auditing Standards
2023
A chapter on employee benefits - part of a one-stop-shop guide by Steve Collings on all aspects of UK auditing standards and new UK GAAP accounting standards. The chapter shows how to put the standards into practice, covering the scope of UK GAAP and FRS 102 Section 28, general recognition principles for all employee benefits, short-term employee benefits, defined contribution and defined benefit plans, disclosures and auditing employee benefits.
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Julia Penny
Accounting Principles for Tax Purposes
2021
A full chapter on FRS 102, Section 28 'Employee benefits', in this accessible introduction to the accounting rules relevant to tax computations in the UK. Written for tax practitioners who wish to gain a better understanding of accounting rules in the UK.
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Employee benefits
Fully updated guide focusing on each area of the financial statement in detail with illustrative examples. This chapter on accounting for employee benefits gives a comparison of FRS 102 Section 28 and IFRS, and covers short-term employee benefits, post-employment benefits, defined contribution plans, defined benefit plans, costs of administering employee benefit plans, other long-term employee benefits, termination benefits, group plans, death-in-service benefits, and disclosures.
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Example accounts
Model accounts and disclosure checklists for UK GAAP
The ICAEW Library can provide model accounts and disclosure checklists for FRS 101, FRS 102, FRS 102 Section 1A, FRS 103 and FRS 105. The examples and checklists cover a broad range of entities, including small companies, charities, groups, LLPs and micro-companies.
Pension scheme financial reporting - A way forward?
KPMG, April 2017
Sample financial statements and notes highlighting emerging best practice for pension scheme reporting under FRS 102 and the revised SORP.
Further reading
Manuals and handbooks
The ICAEW Library stocks the latest UK GAAP handbooks and manuals. You can browse all our books on FRS 102 and employee benefits or request any of the following popular titles by contacting us on +44 (0)20 7920 8620, by web chat, or at library@icaew.com
GAAP 2019: UK reporting – FRS 102 (Volume B)
Deloitte, Croner-i, 2019
Comprehensive manual explaining how to apply FRS 102, with worked examples and extensive interpretation and guidance. The chapter on employee benefits covers the general recognition principle for all employee benefits, short-term employee benefits, post-employment benefits, other long-term benefits, termination benefits, and disclosure.
Manual of accounting: UK GAAP
PwC, Lexis Nexis, 2019
Practical guide with worked examples throughout, dealing with day-to-day issues as well as complex questions. The chapter on employee benefits looks at short-term employee benefits, post-employment benefits, defined contribution plans, defined benefit plans, termination benefits, implications of the Pensions Act 2004, and requirements of the Companies Act 2006.
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