Cellmid 2018 Annual Report 49
Short-term employee benefits
Liability for wages and salaries, including non-monetary benefits, annual leave, long service leave and accumulating sick leave
expected to be settled within 12 months of the reporting date are recognised in other payables in respect of employees’
services up to the reporting date and are measured at the amounts expected to be paid when the liabilities are settled.
Other long-term employee benefits
Liability for annual leave and long service leave not expected to be settled within 12 months from the reporting date is
recognised in the provision for employee benefits and measured as the present value of expected future payments to be made
in respect of services provided by employees up to the reporting date, using the projected unit credit method. Consideration
is given to expected future wage and salary levels, of employee departures and period of service.
Retirement benefit obligations
Contributions for retirement benefit obligations are recognised as an expense as they become payable. Prepaid contributions
are recognised as an asset to the extent that a cash refund or a reduction in the future payment is available. Contributions are
paid into the fund nominated by the employee.
Employee benefits provision
The liability for employee benefits expected to be settled more than 12 months from the reporting date are recognised and
measured at the present value of the estimated future cash flows to be made in respect of all employees at the reporting date.
In determining the present value of the liability, estimates of attrition rates and pay increases through promotion and inflation
have been taken into account.
Amounts not expected to be settled within the next 12 months
The current provision for employee benefits includes all unconditional entitlements where employees have completed the
required period of service and also those where employees are entitled to pro-rata payments in certain circumstances.
The amount is presented as current, since the consolidated entity does not have an unconditional right to defer settlement.
2018 2017
$ $
Analysis of employee provisions
Current 175,345 306,755
Non-current 4,444 1,837
179,789 308,592
Annual Long Service
Leave Leave Total
$ $ $
Balance at 1 July 2017 235,206 73,386 308,592
Additional provisions / (payments) (136,106) 7,303 (128,803)
Balance at 30 June 2018 99,100 80,689 179,789
Employee Benefits