 EMPLOYEE BENEFITS

Employee benefits are non-wage perks provided by employers to attract, retain, and
motivate employees. Common benefits include health insurance, retirement plans,
paid time off, life and disability insurance, flexible spending accounts, wellness
programs, education assistance, childcare assistance, transportation benefits,
employee assistance programs, and stock options/equity grants. These benefits aim to
enhance employees' well-being, work-life balance, and overall job satisfaction.

 ACCOUNTING FOR GOVERNMENT GRANTS AND DISCLOSURE OF

GOVERNMENT ASSISTANCE

Accounting for government grants and disclosure of government assistance involves

recognizing, measuring, presenting, and disclosing financial support from
governments. This includes:

 Recognition: Grants are recognized when it's likely they'll be received and
conditions will be met.

 Measurement: Grants are initially measured at fair value and recognized over
periods matching related costs.

 Conditions: Grants often have performance-related conditions; compliance is

crucial.

 Presentation: Grants are presented in financial statements relevant to their nature.

 Disclosure: Extensive disclosure is required, including grant nature, conditions,

and changes from prior periods.

 Standards: International Financial Reporting Standards (IFRS), particularly IAS

20, provide guidance.

 Tax Implications: Consider tax effects alongside accounting treatment.