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In calculating the provision for employee benefits ABC Ltd includes the value of employee long service leave entitlements. Explain how these entitlements differ from
In calculating the provision for employee benefits ABC Ltd includes the value of employee long service leave entitlements. Explain how these entitlements differ from annual leave and sick leave entitlements. Given that most employment awards entitle the employee to long service leave after 10 or 15 years of service, apply the definition and recognition criteria for liabilities to suggest when an entity should start providing for long service leave.
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