How would abc co. classify this plan under pas 19

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Reference no: EM133654242

Question: ABC Co. is a newly started company in 2019 that has a 31 December year-end. It has decided to provide each of its employees 40 days of paid holiday for each calendar year (prorated if the employees join partway through the year). If an employee fails to take the paid holidays in the current year, the employee will still be entitled to take these days in any future employment period. However, if the employee ceases to work for ABC Co., any unused leave will expire (i.e., the employee will not be compensated for any unused leave on the termination of employment). ABC Co. expects all employees will take the leave in either the calendar year that the employee earns the benefits or by 31 December of the following year, despite the fact that the plan allows them to carry leave forward to any period in the future. How would ABC Co. classify this plan under PAS 19?

Reference no: EM133654242

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