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Actuarial Evaluation of Severance Benefits
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Actuarial Evaluation of Severance Benefits
We conduct comprehensive actuarial evaluations, enabling companies to comply with international accounting standards regarding actuarial liability (severance indemnities), cost allocation for the upcoming accounting period, and determination of actuarial gains or losses.
The evaluation encompasses the following key aspects:
Determination of costs, liabilities, and other actuarial values at the time of evaluation, such as the service cost at the beginning of the year and the obligation for projected benefits.
Calculation of the unrecognized net transitional liability (amortization liability) at the time of evaluation, following the corresponding amortization plan.
Development of the periodic net cost for the next accounting period, detailing each of its components and providing an estimation for the following year.
Reconciliation of the net financial position of the plan, providing a clear view of its current state.
Computation of the expected benefits payable during the upcoming annual period.
Determination of actuarial gains or losses during the evaluated period.
Projection of the net financial position for the next period.
FAQ's
We answer some frequently asked questions that our clients usually ask us about our services.
An Actuary is a professional specialized in applying mathematical and statistical principles to analyze financial risks and assess the long-term financial implications of decisions. Actuaries leverage their skills in mathematics, statistics, economics, and finance to conduct precise and quantifiable assessments of various situations, especially in the realms of insurance and pensions.
International Accounting Standards (IAS) are a set of accounting standards and principles issued by the International Accounting Standards Board (IASB) that provide a global framework for the preparation and presentation of financial statements. These standards aim to establish a common and understandable set of accounting standards that can be consistently applied worldwide, facilitating the comparability of financial statements across different entities and jurisdictions.
Corporate Health Insurance is a medical insurance plan acquired by an organization to provide healthcare coverage to its shareholders, executives, and employees. This type of insurance is designed to benefit both the company and the insurance beneficiaries, offering a range of medical services and benefits. Providing corporate health insurance is a key strategy for attracting and retaining talent, as executives and employees highly value health benefits. Additionally, it provides financial security to executives and employees and can enhance morale and productivity within the company.