GOV2411. GASB 101 - Compensated Absences

GASB Statement No. 101 has significantly broadened the definition of compensated absences that governments must accrue, sometimes resulting substantially higher liabilities within their financial statements. This session will discuss both the technical requirements for estimating the liability as well as practical aspects of explaining the changes and preparing to record these liabilities. The standard is effective for years ending December 31, 2024, and later so there is no time to lose.

Learning Objectives:

  • Identify the basic requirements of GASB Statement No. 101
  • Indicate the standard’s application to various real-life scenarios
Date/Time
–
CPE Credits
1.0
NASBA Field of Study
Accounting (Governmental)
Level
Basic
Prerequisites
0-2 years in the profession
Advanced Preparation
None
Session Tags
State and Local Government
Speakers
Image of Michelle Watterworth

Michelle Watterworth

CPA
Partner
Plante Moran
Image of Robert Scott

Robert Scott

CPA
Deputy Town Manager
Town of Prosper, TX