During your audit of UTAH Company's employee compensation for the year ended December 31, 2021, you obtained the following schedule: Key management Employees Annual salaries 1,900,000 P 3,500,000 P Compensated absences (e.g. vacation and sick leaves) 850,000 2.000,000 Post-employment benefits (eg, retirement benefits) 13th month pay and other mandatory benefits 1,225,000 250,000 1,575,000 400,000 Share options 1,425,000
During your audit of UTAH Company's employee compensation for the year ended December 31, 2021, you obtained the following schedule: Key management Employees Annual salaries 1,900,000 P 3,500,000 P Compensated absences (e.g. vacation and sick leaves) 850,000 2.000,000 Post-employment benefits (eg, retirement benefits) 13th month pay and other mandatory benefits 1,225,000 250,000 1,575,000 400,000 Share options 1,425,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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How much should be disclosed in the notes to the financial statements as "compensation expense" in accordance with IAS 24, Related Party Disclosures?
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