Employer's Social Insurance Contribution
Code: 5215
👁 Views: 25
Account Information
| Financial Statement | Income Statement |
| Normal Balance | Debit |
Definition
Employer's contribution to social insurance (e.g., GOSI), considered an additional cost on salaries and wages, presented in the income statement as part of salaries expense.
📐 IFRS vs US GAAP Accounting Treatment
IFRS
IAS 19
Employee Benefits
US GAAP
ASC 710
Compensation - General
❓ Frequently Asked Questions
Q: What is the employer's social insurance contribution?
A: The employer's share of social insurance contributions (e.g., GOSI), considered an additional cost on salaries, presented in the income statement as part of salaries expense.