Compensation and Benefits

Question 1

What is Compensated Absences?

Answer 1

Employee Absences (Sick, Vacation, Illiness & Holidays) that the employees will be paid for.

Question 2

What conditions should employer accrue a liability for Compensated Absences?

Answer 2

Obligation relating to employee’s rights to receive compensation for future absences for services already performed.

Obligation rights that vest/accumulate

Payment is probable

Amount can be estimated