Every year Fiserv produces software, but rather than expense that cost against earnings, the company declares the software as an asset and amortizes it over time.

FORBES: Priced For Perfection

The state also uses a liability estimation method (the Projected Unit Credit method) that modestly understates accrued pension benefits, and amortizes its unfunded pension liabilities over a period slightly longer than the 30 years recommended by GASB.

FORBES: Pat Quinn's Illinois Budget: Spending Up, Program Spending Down