Compensated absences are recognized and recorded when the liabilities are going to be paid with currently available resources. Any additional amounts of the liability remaining are recorded in the government-wide financial statements as long term liabilities.
Along with expenditures for compensated absences, claims and judgements, special termination benefits, lanfill closure and postclosure care costs for governemntal funds are treated in the same manner.
Compensated absences are recognized and recorded when the liabilities are going to be paid with currently available resources. Any additional amounts of the liability remaining are recorded in the government-wide financial statements as long term liabilities.
ReplyDeleteAlong with expenditures for compensated absences, claims and judgements, special termination benefits, lanfill closure and postclosure care costs for governemntal funds are treated in the same manner.