Difference between revisions of "Bonus"
(→Definitions) |
|||
| Line 4: | Line 4: | ||
==Definitions== | ==Definitions== | ||
According to [[Organizational Behavior by Robbins and Judge (17th edition)]], | According to [[Organizational Behavior by Robbins and Judge (17th edition)]], | ||
| − | + | :[[Bonus]]. A pay plan that rewards employees for recent performance rather than historical performance. | |
According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | ||
:[[Bonus]]. When a new partner is admitted, he or she may pay more or less than equity interest. If the new partner pays more, the old partners share a bonus in the profit and loss ratio. Of course, the opposite could result, and the new partner could receive a bonus if he or she invests less than equity interest. | :[[Bonus]]. When a new partner is admitted, he or she may pay more or less than equity interest. If the new partner pays more, the old partners share a bonus in the profit and loss ratio. Of course, the opposite could result, and the new partner could receive a bonus if he or she invests less than equity interest. | ||
Revision as of 20:19, 20 December 2018
Bonus is something in addition to what is expected or strictly due. In worker's compensation, bonus is a pay plan that rewards employees for recent performance rather than historical performance. In a legal partnership, bonus is a payment by a new partner or, vice versa, to a new partner.
Definitions
According to Organizational Behavior by Robbins and Judge (17th edition),
- Bonus. A pay plan that rewards employees for recent performance rather than historical performance.
According to College Accounting: A Practical Approach by Slater (13th edition),
- Bonus. When a new partner is admitted, he or she may pay more or less than equity interest. If the new partner pays more, the old partners share a bonus in the profit and loss ratio. Of course, the opposite could result, and the new partner could receive a bonus if he or she invests less than equity interest.
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.
