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Definition of periodic compensation
a pay plan based on the time spent on the task rather than the work accomplished
All forms of pay given to an employee in exchange for services rendered.
a company committee comprised mainly of members of the board of directors; is responsible
a foundation for the compensation plan that addresses the role compensation should play in the organization
pay related to current performance
A physical inventory count taken on a repetitive basis.
Periodic inventory system
An inventory system in which the balance in the Inventory account is adjusted for the units sold only at the end of the period.
PPF (periodic perpetuity factor)
a generalization formula invented by Abrams that is the present value of regular but noncontiguous cash flows that have constant growth to perpetuity.
Workers' Compensation Benefits
Employer-paid insurance that provides their employees with wage compensation if they are injured on the job.
Historically, damages paid out during settlement of personal physical injury cases were distributed in the form of a lump-sum cash payment to the plaintiff. This windfall was intended to provide for a lifetime of medical and income needs. The claimant or his/her family was then forced into the position of becoming the manager of a large sum of money.
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