Paying Not to Perform: Compensated Absence Accounting Under GASB’s New Guidance

GASB's statement on Compensated Absences reexamines and updates the accounting and financial reporting for compensated absences. This session will delve into the use of paid time off (PTO) by some governments rather than the more traditional approach of separate sick and vacation leave, and explain how PTO and other forms of compensated absences will be accounted for and reported based on the new standard.