Difference between revisions of "Fair Labor Standards Act"
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| − | [[Fair Labor Standards Act]] ([[Federal Wage and Hour Law]]) is a [[United States]] law that the majority of American employers must follow that contains rules stating the minimum hourly rate of pay and the maximum number of hours a worker will work before being paid time and a half for overtime hours worked. This law also has other rules and regulations that employers must follow for payroll purposes. | + | [[Fair Labor Standards Act]] (alternatively known as [[Federal Wage and Hour Law]]; also known by its acronym, [[FLSA]]; hereinafter, ''FLSA'') is a [[United States]] [[labor law]] that the majority of American employers must follow that contains rules stating the minimum hourly rate of pay and the maximum number of hours a worker will work before being paid time and a half for overtime hours worked. This law also has other rules and regulations that employers must follow for payroll purposes. |
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*[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]]. | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]]. | ||
| − | ==Related lectures== | + | ==See also== |
| − | *[[ | + | ===Related lectures=== |
| + | :*[[Labor Laws]] | ||
| − | [[Category: | + | [[Category: CNM Cyber Orientation]][[Category: Articles]] |
Latest revision as of 21:10, 24 May 2020
Fair Labor Standards Act (alternatively known as Federal Wage and Hour Law; also known by its acronym, FLSA; hereinafter, FLSA) is a United States labor law that the majority of American employers must follow that contains rules stating the minimum hourly rate of pay and the maximum number of hours a worker will work before being paid time and a half for overtime hours worked. This law also has other rules and regulations that employers must follow for payroll purposes.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Fair Labor Standards Act (Federal Wage and Hour Law). A United States law that the majority of American employers must follow that contains rules stating the minimum hourly rate of pay and the maximum number of hours a worker will work before being paid time and a half for overtime hours worked. This law also has other rules and regulations that employers must follow for payroll purposes.
According to Labor Relations and Collective Bargaining by Michael R. Carrell and Christina Heavrin (10th edition),
- Fair Labor Standards Act. Passed in 1936, it requires employers to pay covered employees at least the federal minimum wage and overtime pay of one-and-one-half-times the regular rate of pay for work exceeding a 40-hour week.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
