GASB releases proposed statement on Accounting for Termination Benefits.The Governmental Accounting Standards Board The Governmental Accounting Standards Board (GASB) is currently the source of generally accepted accounting principles (GAAP) used by State and Local governments in the United States of America. has published an exposure draft of a statement, Accounting for Termination Benefits, that would establish accounting guidance for state and local governmental employers regarding benefits provided to employees who terminate employment. It would establish guidance for benefits, such as early-retirement incentives and severance The act of dividing, or the state of being divided. The term severance has unique meanings in different branches of the law. Courts use the term in both civil and criminal litigation in two ways: first, when dividing a lawsuit into two or more parts, and second, when benefits that are provided as the result of voluntary or involuntary involuntary adj. or adv. without intent, will, or choice. Participation in a crime is involuntary if forced by immediate threat to life or health of oneself or one's loved ones, and will result in dismissal or acquittal. INVOLUNTARY. terminations, and is intended to enhance comparability of financial statements by requiring governments to account for similar termination benefits in the same manner. Comments are due Mar. 11. The ED can be found on www.gasb.org See .org. (networking) org - The top-level domain for organisations or individuals that don't fit any other top-level domain (national, com, edu, or gov). Though many have .org domains, it was never intended to be limited to non-profit organisations. RFC 1591. . |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion