With a lot of entities faced with making tough financial decisions with the advent of COVID-19, staff retrenchments have become a scary reality for many employers and employees alike. As a result, entities are having to pay out retrenchment packages, which are classified as ‘termination benefits.’ IAS 19 helps to guide the accounting for these payments as well as normal salaries, wages, leave accruals and bonus payments. This session will help to guide you in ensuring the correct capturing and treatment of employee benefits in the accounting records, and appropriate presentation in the annual financial statements.