Why am I not getting Director's Pension Contributions on the Operating profit?
Article ID
ias-12199
Article Name
Why am I not getting Director's Pension Contributions on the Operating profit?
Created Date
11th December 2015
Product
IRIS Accounts Production
Problem
Why am I not getting Director's Pension Contributions on the Operating Profit Note?
Resolution
Director’s Emoluments are disclosed on the Operating Profit Note where Postings are present on appropriate account numbers (e.g. Staff Costs – Account 254/1*1 etc).
Note: Only Pensions paid to ‘Money Purchase Schemes’ are required to be shown on the Operating Profit Note as per Companies Act disclosure requirements.
In order to disclose ‘Director’s Pension Contributions to Money Purchase Schemes’ correctly Posting should be made to sub account 7 on each Directors’ Remuneration account, e.g. 254/7*1,2 etc.
For further assistance please contact IRIS Support
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