GAAP relating to compensated absences requires the use of current pay rates to accrue for...
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Accounting
GAAP relating to compensated absences
requires the use of current pay rates to accrue for compensated absences.
applies to items such as vacation pay, severance pay, sick pay, and other long-term fringe benefits.
does not require the accrual of accumulated nonvested sick pay.
establishes the same accruing standards for vacation pay, holiday pay, and sick pay.
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