TITLE

ACCOUNTING FOR GUARANTEED WAGE PLANS

AUTHOR(S)
Seiler, Robert E.
PUB. DATE
July 1956
SOURCE
Accounting Review;Jul56, Vol. 31 Issue 3, p401
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article focuses on accounting for guaranteed wage plans. Most of the wage leveling plans are basically employee withholding plans whereby some of the earnings of the employee are withheld and are paid to him later when his earnings are low. The obvious disadvantage of this plan lies in the employee's reluctance to having part of his earnings withheld. The majority of wage leveling plans have therefore created little employee enthusiasm, for they are little more than savings plans, supervised by the company. A major difference between the leveling and the minimum-guarantee type of plan is the number of employees that are covered. Where the wage process is primarily one of leveling wages, there is no excessive cost to the employer for time not worked. One of the most complex accounting problems arising out of recent developments in guaranteed wage payments is concerned with the special exemptions allowed for the payment of overtime premiums under the Fair Labor Standards Act. The record-keeping process is further complicated if the company is to take advantage of the overtime premium relief provisions of the Fair Labor Standards Act.
ACCESSION #
7059663

 

Related Articles

  • Town and country.  // Monthly Labor Review;Nov2001, Vol. 124 Issue 11, p2 

    Reports on the average national pay in the United States' nonmetropolitan area in 2000. Annual pay average in 1990.

  • Questions for the Record Related to Military Compensation. Farrell, Brenda S. // GAO Reports;6/4/2010, p1 

    The article presents a letter from Brenda S. Farrell, Director of Defense Capabilities and Management at the U.S. Government Accountability Office (GAO). The letter addresses the use of Employment Cost Index (ECI) as benchmark for annual military basic pay. GAO stresses that the basic pay is...

  • Know your fund 10 key questions. Walkley, Pam // Money (Australia Edition);Apr2010, Issue 122, p74 

    The article offers tips on how to make the most out of superannuation funds in Australia. It says that employees must ensure their employers remit their super guarantee payments, which must be done after every three months. According to the author, it can also help to learn the different ways to...

  • Companies Tightening Pay/Performance Link.  // NACD Directorship;Jan/Feb2013, Vol. 39 Issue 1, p17 

    The article discusses a survey on pay practices which states that companies are planning to discontinue annual pay increases, and bonus payouts for yielding higher performances of executives.

  • What's new with W-2s. Hess, Scott E. // On Balance;Jan/Feb2012, Vol. 8 Issue 1, p14 

    The article presents information on the proposal offered by the U.S. Internal Revenue Service (IRS) to disclose the cost of health insurance coverage in the W-2 forms which consist of annual wages and tax statement of employees. It informs that IRS declared the need of transparency related to...

  • Guaranteed wages and jobless pay. Masse, Benjamin L. // America;4/9/1955, Vol. 93 Issue 2, p37 

    The article discusses the issue of a guaranteed annual wage to be given to workers in 1955. It is stated that with the proposal of a guaranteed annual wage, unions such as the United Auto Workers are asserting an employer-financed supplement to unemployment compensation. U.S. President Dwight...

  • Keeping pace with inflation?  // Landscape Management;Jan96, Vol. 35 Issue 1, p8 

    Presents ways to find out if your personal income has kept up with inflation. Multiply earnings of any year; How to know if your earnings have declined.

  • An Alternative to the Guaranteed Annual Wage. Weisenfeld, Allan // Labor Law Journal;Oct55, Vol. 6 Issue 10, p679 

    Discusses the aspects of guaranteed annual wage (GAW) in the U.S. Impact of GAW on the free enterprise system; Nature of wage guarantee proposals; Benefits of the GAW system; Integration of GAW plans with state unemployment compensation plans. INSET: TOILERS' UTOPIA.

  • WILLINGNESS TO COMMUNICATE AND ANNUAL INCOME. Ellis, Kathleen; Hackman, Michael Z.; Walker, Kim B. // Perceptual & Motor Skills;Dec98 Part 2, Vol. 87 Issue 3, p1385 

    Examines the effect of willingness to communicate on annual income. Willingness to Communicate Scale developed by McCroskey and Richmond; One-way analysis of variance.

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics