Goto Section: 32.4200 | 32.4320 | Table of Contents
Revised as of January 16, 2020
Goto Year:2019 |
§ 32.4300 Other long-term liabilities and deferred credits.
(a) This account shall include amounts accrued to provide for such
items as unfunded pensions (if actuarially determined), death benefits,
deferred compensation costs and other long-term liabilities not
provided for elsewhere. Subsidiary records shall be maintained to
identify the nature of these items.
(b) This account shall include the amount of all deferred credits not
provided for elsewhere, such as amounts awaiting adjustment between
accounts; and revenue, expense, and income items in suspense.
(c) This account shall include the deferred obligations associated with
a capitalize operating lease longer than one year. The amounts recorded
in this account at the inception of an operating lease shall be equal
to the present value not to exceed fair value, at the beginning of the
lease term, of minimum lease payments during the lease term, excluding
that portion of the payments representing executory costs to be paid by
the lessor, together with any profit thereon.
[ 67 FR 5690 , Feb. 6, 2002, as amended at 84 FR 4730 , Feb. 19, 2019]
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Goto Section: 32.4200 | 32.4320
Goto Year: 2019 |
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