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e. Employee benefits and benefits in kind (especially in British English ), also called fringe benefits, perquisites, or perks, include various types of non-wage compensation provided to employees in addition to their normal wages or salaries. [ 1] Instances where an employee exchanges (cash) wages for some other form of benefit is generally ...
In this case, "employee benefits" includes wages and salaries as well as pensions, life insurance, and other perquisites. The rules in IAS 19 explains the accounting for longer term employee benefits and post employment plans such as defined benefit retirement plans. Accordingly, most of the standard is taken up with explaining the rules for ...
The Break-Even Point. The break-even point (BEP) in economics, business —and specifically cost accounting —is the point at which total cost and total revenue are equal, i.e. "even". In layman's terms, after all costs are paid for there is neither profit nor loss. [ 1][ 2] In economics specifically, the term has a broader definition; even if ...
This accounting definition of assets includes items that are not owned by an enterprise, for example a leased building (Finance lease), but excludes employees because, while they have the capacity to generate economic benefits, an employer cannot control an employee. In economics, an asset (economics) is any form in which wealth can be held.
Cost–benefit analysis is often used by organizations to appraise the desirability of a given policy. It is an analysis of the expected balance of benefits and costs, including an account of any alternatives and the status quo. CBA helps predict whether the benefits of a policy outweigh its costs (and by how much), relative to other alternatives.
Personal finance is the financial management that an individual or a family unit performs to budget, save, and spend monetary resources in a controlled manner, taking into account various financial risks and future life events.
v. t. e. A chart of accounts ( COA) is a list of financial accounts and reference numbers, grouped into categories, such as assets, liabilities, equity, revenue and expenses, and used for recording transactions in the organization's general ledger. Accounts may be associated with an identifier (account number) and a caption or header and are ...
An employee ownership trust ( EOT) holds a permanent or long-term shareholding in a company on trust for the benefit of all the company's employees. An EOT provides indirect (trust) employee ownership of a company. Among the different forms of employee ownership, the trust model may, in particular, be chosen instead of employees owning shares ...