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An insurance company may make an ex gratia payment to customers if a claim does not meet the terms and conditions but the company chooses to make a voluntary payment out of kindness or compassion, without recognizing any obligation to make such a payment. [citation needed]
Laws restricting employment discrimination for persons who have been convicted of criminal offenses vary significantly by state. [137] The U.S. Equal Employment Opportunity Commission has issued guidelines for employers intended to prevent criminal record discrimination from being used as a proxy to effect unlawful racial discrimination. [138]
Employees in some sectors may receive gratuities, bonus payments or stock options. In some types of employment, employees may receive benefits in addition to payment. Benefits may include health insurance, housing, and disability insurance. Employment is typically governed by employment laws, organisation or legal contracts.
employers can discharge or discipline an employee for "good cause," regardless of the employee's age; employers can take an action based on "reasonable factors other than age"; [18] bona fide occupational qualifications, seniority systems, employee benefit or early retirement plans; and; voluntary early retirement incentives.
The accounting equation relates assets, liabilities, and owner's equity: Assets = Liabilities + Owner's Equity. The accounting equation is the mathematical structure of the balance sheet. Probably the most accepted accounting definition of liability is the one used by the International Accounting Standards Board (IASB). The following is a ...
The Employees' Old-Age Benefits Institution (EOBI) (Urdu: ادارہِ مراعاتِ معمّر ملازمین) is the pension, old age benefits and social insurance institution of the Government of Pakistan. It operates under the control of Ministry of Overseas Pakistanis and Human Resource Development. [1]
Before ERISA, some defined benefit pension plans required decades of service before an employee's benefit became vested. It was not unusual for a plan to provide no benefit at all to an employee who left employment before the specified retirement age (e.g. 65), regardless of the length of the employee's service.
The accounting treatment for goodwill remains controversial within both the accounting and financial industries because it is fundamentally a workaround employed by accountants to compensate for the fact that businesses when purchased are valued based on estimates of future cash flows and prices negotiated by the buyer and seller, and not on ...