On 18 December, before the reporting date, employees of Dunar SA accepted a departure offer that Dunar can no longer withdraw. The termination payments, totalling 1,500,000, will be settled in 2 years, hence beyond twelve months after the reporting date. The discount rate adopted for the case is 3 % (management's figure). Calculate the liability to recognise at 31 December.
- Termination payments to be settled in total
- 1,500,000
- Discount rate (management's figure for the case)
- 3 %
- Settlement period
- 2