Goto Section: 32.23 | 32.25 | Table of Contents
Revised as of October 1, 2020
Goto Year:2019 |
§ 32.24 Compensated absences.
(a) Companies shall record a liability and charge the appropriate
expense accounts for compensated absences (vacations, sick leave, etc.)
in the year in which these benefits are earned by employees.
(b) With respect to the liability that exists for compensated absences
which is not yet recorded on the books as of the effective date of this
part, the liability shall be recorded in Account 4130. Other current
liabilities, with a corresponding entry to Account 1438, Deferred
maintenance, retirements and other deferred charges. This deferred
charge shall be amortized on a straight-line basis over a period of ten
(c) Records shall be maintained so as to show that no more than ten
percent of the deferred charge is being amortized each year.
[ 51 FR 43499 , Dec. 2, 1986, as amended at 67 FR 5679 , Feb. 6, 2002]
Goto Section: 32.23 | 32.25
Goto Year: 2019 |
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