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Present value of a defined benefit obligation

Definitions relating to the net defined benefit liability (asset)

The present value of a defined benefit obligation is the present value, without deducting any plan assets, of expected future payments required to settle the obligation resulting from employee service in the current and prior periods.

 

 

 

 

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Previous GAAP

The basis of accounting that a first-time adopter used immediately before adopting IFRSs.

 

 

 

 

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