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Your school district grants teachers a sabbatical leave every 7 years. Yet, consistent with GAAP, it fails to accrue a liability for such leave over
Your school district grants teachers a sabbatical leave every 7 years. Yet, consistent with GAAP, it fails to accrue a liability for such leave over the period in which the leave is earned not even in its government wide statements. How can you justify such accounting? 1) From an accounting rules perspective? 2) From a tax rate determination perspective?
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