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Preparing for GASB's Compensated Absences Changes – Statement 101

This article offers helpful details for a smooth implementation of GASB Statement 101.
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The effective date for GASB’s Statement 101, Compensated Absences, has arrived. Benefit practices have evolved since the last update in 1992, resulting in inconsistent application of guidance and a lack of guidance for new leave types. This update creates a unified model for recognition and measurement for all types of compensated absences and eliminates certain previously required disclosures. Here are details to help you have a smooth implementation.

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If you have any questions or need assistance, please reach out to a professional at Forvis Mazars.

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