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Merit pay. Merit pay, merit increase or pay for performance, is performance-related pay, most frequently in the context of educational reform or government civil service reform (government jobs). It provides bonuses for workers who perform their jobs effectively, according to easily measurable criteria. In the United States, policy makers are ...
A study by the executive compensation analysis firm Equilar Inc. for The New York Times found that the median pay package for the top 200 chief executives at public companies with at least $1 billion in revenue in 2012 was $15.1 million—an increase of 16 per cent from 2011. [33] Lower-level executives also have fared well.
A long-term incentive plan or LTIP is a type of executive compensation that typically comes in the form of performance shares or matching shares of the company. In the United States, these plans were used heavily since Internal Revenue Code Section 162(m) passed, which permitted deductions for certain performance-based compensation without limitation.
The purpose of the sales force compensation metric is to determine the mix of salary, bonus, and commission that will maximize sales generated by the sales force. When designing a compensation plan for a sales force, managers face four key considerations: level of pay, mix between salary and incentive, measures of performance, and performance-payout relationships.
An auditor's report is a formal opinion, or disclaimer thereof, issued by either an internal auditor or an independent external auditor as a result of an internal or external audit, as an assurance service in order for the user to make decisions based on the results of the audit. Auditor's reports are considered essential tools when reporting ...
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Capital accounting. Capital account of each partner represents his equity in the partnership. Capital account of a partner is increased in the following situations: The owner made additional investments during the year. The owner made guaranteed payments to the firm. Partnership earned profits, and a share of profits was allocated to the partner.
Collateral source rule. The collateral source rule, or collateral source doctrine, is an American case law evidentiary rule that prohibits the admission of evidence that the plaintiff or victim has received compensation from some source other than the damages sought against the defendant. The purpose of the rule is to ensure that the wrongful ...
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