GASB 101 Compensated Absences Tool – FIFO and LIFO Results
Accounting and Financial Reporting
GASB 101 Compensated Absences Tool – FIFO and LIFO Results
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This tool contains two examples of approaches to estimate the liability for compensated absences for sick leave based on the provisions of GASB Statement No. 101, Compensated Absences. One approach follows a first-in, first-out flow assumption methodology, and the second approach follows a last-in, first-out flow assumption methodology.
Publication Date: April 2025
