Revision Control Document Chapter 4.3.2 GAAP Adjustments and Reclassification Entries – – Liabilities: Accrued Salaries and Benefits Revision and Approval History Section(s) Revision Summary of Revisions Revised Date Employee benefits related to retirement contribution should be accrued using the new GAAP account 722007 Benefits Pension Expense. – Reclassification to GAAP account 711302 Deferred outflows Net – 4.3 August 2018 is included in the passdown journal entries from the pension liability Office of the Chancellor. Updated the sample journal entries for reference. Updated section to include the available options to gather information to 4.5 August 2018 calculate the accrual.
Revision Control Document Chapter 4.3.2 – GAAP Adjustments and Reclassification Entries – Liabilities: Accrued Salaries and Benefits Revision and Approval History Section(s) Revised Summary of Revisions Revision Date 4.3 Employee benefits related to retirement contribution should be accrued using the new GAAP account 722007 Benefits – Pension Expense. Reclassification to GAAP account 711302 Deferred outflows – Net pension liability is included in the passdown journal entries from the Office of the Chancellor. Updated the sample journal entries for reference. August 2018 4.5 Updated section to include the available options to gather information to calculate the accrual. August 2018
CH_04.03.02_Accrued_Salaries_and_Benefits_Rev_0818.docx