1 Employee Compensation—Payroll, Pensions, and Other Compensation Issues chapter 17.

1

Employee Employee Compensation—Compensation—

Payroll, Pensions, Payroll, Pensions, and Other and Other

Compensation Compensation IssuesIssues

chapterchapter 1717

2

1. Account for payroll and payroll taxes, and understand the criteria for recognizing a liability associated with compensated absences.

2. Compute performance bonuses and recognize the issues associated with postemployment benefits.

3. Understand the nature and characteristics of employer pension plans, including a detailed discussion of defined benefit plans.

4. Use the components of prepaid/accrued pension costs and changes in the components to compute the periodic expense associated with pensions.

5. Prepare required disclosures associated with pensions, and understand the accounting treatment for pension settlements and curtailments

6. Describe the few remaining differences between U.S. pension accounting standards and the provisions of IAS 19.

7. Explain the differences in accounting for pensions and postretirement benefits other than pensions.

Learning Objectives

3Employee CompensationEmployee CompensationEvent LineEvent Line

PayrollPayroll

Compensated Compensated AbsencesAbsences

Compensated Compensated AbsencesAbsences

Stock OptionsStock Optionsand Bonusesand Bonuses

Stock OptionsStock Optionsand Bonusesand Bonuses

Postemployment Postemployment BenefitsBenefits

Postemployment Postemployment BenefitsBenefits

Pensions and Postretirement

Benefits Other Than Pensions

Pensions and Postretirement

Benefits Other Than Pensions

Time

4

Payroll and Payroll Taxes

1. Federal old-age, survivors’, and disability (tax to both the employee and employer)

2. Federal hospital insurance (tax to both employer and employee)

3. Federal unemployment insurance (tax to employer only)

4. State unemployment insurance (tax to employer only)

5. Individual income tax (tax to employee only but withheld and paid by employer)

Social security and income tax legislation Social security and income tax legislation impose five taxes based on payrolls:impose five taxes based on payrolls:Social security and income tax legislation Social security and income tax legislation impose five taxes based on payrolls:impose five taxes based on payrolls:

5


FICAFICAFICAFICAThe FICA tax rate and the maximum amount taxable continue to change. As of 2002 …

the rate is 6.20% on annual wages up to $84,900. This affect both employer and

employee.

The FICA tax rate and the maximum amount taxable continue to change. As of 2002 …

the rate is 6.20% on annual wages up to $84,900. This affect both employer and

employee.

Federal Hospital InsuranceFederal Hospital InsuranceFederal Hospital InsuranceFederal Hospital Insurance

There is no upper limit on this tax. The 2002 rate is1.45% for both employer and employee.

There is no upper limit on this tax. The 2002 rate is1.45% for both employer and employee.

a.k.a. Social Security

a.k.a. Medicare Tax

6


Federal Unemployment InsuranceFederal Unemployment InsuranceFederal Unemployment InsuranceFederal Unemployment Insurance

The employer pays 6.2% on the first $7,000 earned by each employee. A

credit of 5.4% may be applied based on state unemployment tax (see below),

therefore making it 0.8%

The employer pays 6.2% on the first $7,000 earned by each employee. A

credit of 5.4% may be applied based on state unemployment tax (see below),

therefore making it 0.8%

Work for

Food

State Unemployment InsuranceState Unemployment InsuranceState Unemployment InsuranceState Unemployment Insurance

The employer usually pays 5.4% to the state on the first $7,000 earned

by each employee.

The employer usually pays 5.4% to the state on the first $7,000 earned

by each employee.

7


Employers are required to withhold income tax from wages paid to their employees. Withholding

tables provide information about how much to withhold from each employee. These deductions

are affected by the number of exemptions claimed.

Employers are required to withhold income tax from wages paid to their employees. Withholding

tables provide information about how much to withhold from each employee. These deductions

are affected by the number of exemptions claimed.

Income TaxIncome TaxIncome TaxIncome Tax

8

Salary Expenses and Liabilities

The employee’s gross earnings are an expense to the employer.

Withholdings are an expense to the employee, not to the employer.

Withholdings become a liability to the employer only because the employer keeps money earned by employees and pays obligations on their behalf.

9

Accounting for a Payroll

Eg. Total salary for 15 employees = $16,000. State unemployment tax = 5.4%. Income tax with-holding = $1,600. Combined FICA = 7.65%. This employer would make the following entry to record salary expense:

Salaries Expense 16,000 FICA Taxes Payable 1,224 Employees Income Taxes Payable 1,600 Cash 13,176

To record payment of payroll and related employee withholdings.

ContinuedContinued

10

Employers make this entry to record their portion of FICA and other payroll taxes e.g. SUT & FUT:

Accounting for a Payroll

Payroll Tax Expense 2,216FICA Taxes Payable 1,224 State Unemployment Taxes Payable 864Federal Unemployment Taxes Payable 128

To record the payroll tax liabilityof the employer.

0.0765 x $16,000

0.054 x $16,000 0.008 x $16,000

Payroll taxes are:

•An expense to the employer.

•A liability to the employer until they are paid.

11

Compensated Absences

Compensated absences include payments by employers for vacation, holiday, illness, or other personal activities.

Compensated absences include payments by employers for vacation, holiday, illness, or other personal activities.

FASB Statement No. 43 requires a liability to be recognized for compensated absences that—

(1) Have been earned through services already rendered

(2) Vest or can be carried forward to subsequent years

(3) Are estimable and probable

12

Compensated Absences

The entry to record the accrued vacation on December 31, 2004, would be:

Wages Expense 7,000Vacation Wages Payable 7,000 To record accrued

vacation wages ($700 x10 weeks). ContinuedContinuedContinuedContinued

S&N Corporation has 20 employees who are paid an average of $700 per week. During 2004, a total of 40 vacation weeks was earned by all employees, but only 30 weeks of vacation were taken.

13

Compensated AbsencesIn 2005, when the additional vacation weeks are taken, the average rate has increased to $800 per week.

Wages Expense 1,000Vacation Wages Payable 7,000

Cash 8,000 To record payment at current rates of previously

earned vacation time ($800 x 10 weeks).

Compensated absences are not tax deductible until payment is made, while they are deductible under GAAP, once accrued. This gives right to deferred tax!

14Stock-Based Compensation (recall ACC301 - Chapter 11) and Bonuses

ContinuedContinuedContinuedContinued

Photo Graphics, Inc. gives it store managers a 10% bonus based on individual store earnings. The bonus is to based on income after deducting the bonus, but before deduction for income taxes. Store X has income for the year of $100,000.

B = 0.10($100,000 – B)

B = $10,000 – 0.10BB + 0.10B = $10,000

1.10B = $10,000

B = $9,091 (rounded)

15Major Categories of Pension Plans

1. Government plans, primarily social security

2. Individual plans, such as individual retirement accounts (IRAs)

3. Employer plans:

•Noncontributory – only the employer pays

•Contributory – the employee also pays

•Defined Contribution – benefits vary

•Defined Benefit – contributions vary

•Vested Benefits - Vesting occurs when an employee has met certain specified requirements and is eligible to receive pension benefits at retirement even if the employee stops working for the employer

16

Defined Benefit Pension Plans

EmployerEmployerCurrent Current

EmployeesEmployees

Services

Wages and Salaries

Pension Pension FundFund

Con

trib

utio

ns

Retired Retired EmployeesEmployeesDefined Benefits

17Issues in Accounting for Defined Benefit Plans

1. The amount of net periodic pension expense to be recognized on the income statement.

2. The amount of pension liability or asset to be reported on the balance sheet.

3. Accounting for pension settlements, curtailments, and terminations.

4. Disclosures needed to supplement the amounts reported in the financial statements.

18

Simple Illustration

Lorien Bach is 35 years old and has worked for Thakkar for 10 years. Her salary for 2004 was $40,000. Pension payments begin after the employee turns 65. The annual year-end payment is equal to 2% of the highest salary times the number of years with the company.

Thakkar knows for certainty that Bach will live until she is 75. Thakkar uses a discount rate of 10%. As of January 1, 2005, Thakkar had a pension fund of $10,000. During 2005 an additional $1,500 was contributed. The fund earned $350 and the average return is 12%.


19

Simple Illustration

Estimation of Pension ObligationEstimation of Pension Obligation

(2% x 10 years) x $40,000 = $8,000

The annual amount that Bach should received on her

retirement


20

Accumulated benefit obligation (ABO)

Simple Illustration

Accumulated Benefit Obligation (ABO)Accumulated Benefit Obligation (ABO)

X X X X X X X X X X$8,000

$8,000

$8,000

$8,000

$8,000

$8,000

$8,000

$8,000

$8,000

$8,000

PV of a an annuity of $8,000 per year for ten

years deferred for 30 years is

$2,81730 years


21

Simple Illustration

Projected Benefit Obligation (PBO)Projected Benefit Obligation (PBO)


Assume Thakkar Company expects Assume Thakkar Company expects Bach’s 2004 salary of $40,000 to increase Bach’s 2004 salary of $40,000 to increase

5% every year until retirement.5% every year until retirement.

Assume Thakkar Company expects Assume Thakkar Company expects Bach’s 2004 salary of $40,000 to increase Bach’s 2004 salary of $40,000 to increase

5% every year until retirement.5% every year until retirement.

(2% x 10 years) x $172,877 = $34,575 (rounded)

PV = $40,000, N = 30, I = 5%

The PBO is the PV

The PBO is the PV

of ten equal deferred


payments of $34,575

payments of $34,575

(= (= $12,176$12,176).).

The PBO is the PV

The PBO is the PV



payments of $34,575

payments of $34,575

(= (= $12,176$12,176).).

22

Simple Illustration

Accrued Pension LiabilityAccrued Pension Liability

PBO, January 1, 2005 $12,176Pension fund at fair value,

January 1, 2005 (10,000) Accrued pension liability* $ 2,176

FASB Statement No. 87 stipulates that these two items be offset against one

another and a single amount be shown.

FASB Statement No. 87 stipulates that these two items be offset against one

another and a single amount be shown.

* - The reverse direction would give rise to Prepaid pension cost

23

Simple Illustration – Other Issues

1. Interest Cost1. Interest Cost

PBO, Beginning Discount Interest of Period x Rate = Cost$12,176 x 0.10 = $1,218

a.k.a. settlement interest rate

2. Service Cost2. Service Cost

Bach’s work for Thakkar during the year 2005 results in an increase in forecasted annual benefits to Bach because the payments are calculated on 11 years of service.

The impact of this one extra year of service is to increase the December 31, 2005 PBO balance by $1,339. Therefore, the service cost element of pension expense for the year is $1,339.

Rohan Chambers

Work this out using my pension spreadsheet

24

Simple Illustration – Other Issues

3. Return on the Pension Fund 3. Return on the Pension Fund


Pension expense is reduced by the return on the pension fund for the year. Because Thakkar expects a 12% rate

of return, the original $10,000 will have a return of

$1,200 in 2005.

25

Simple Illustration

PBO, End of Year – The Liability sidePBO, End of Year – The Liability side


Service cost and interest

cost

PBO, beginning

of year+ –

Retirement benefits

paid±

Change in actuarial

assumptions

26

Simple Illustration

Fair Value of Pension Fund (FVPF)– The Asset sideFair Value of Pension Fund (FVPF)– The Asset side


Employer contribu-

tions

Fair value of pension

fund, beginning

of year

+ –Retirement

benefits paid

±Actual return on pension

fund

27

Simple Illustration

Accrued Pension LiabilityAccrued Pension Liability


As of December 31, 2005, the PBO for Thakkar is As of December 31, 2005, the PBO for Thakkar is $14,733 and the total FVPF is $12,700 ($10,000 + $14,733 and the total FVPF is $12,700 ($10,000 +

$1,200 return + $1,500 new contributions).$1,200 return + $1,500 new contributions).

As of December 31, 2005, the PBO for Thakkar is As of December 31, 2005, the PBO for Thakkar is $14,733 and the total FVPF is $12,700 ($10,000 + $14,733 and the total FVPF is $12,700 ($10,000 +

$1,200 return + $1,500 new contributions).$1,200 return + $1,500 new contributions).

PBO, December 31, 2005 $14,733Pension fund at fair value,

December 31, 2005 (12,700) Accrued pension liability $ 2,033

28

Simple Illustration

Thakkar would make the following entries for 2005:

Pension Expense 1,357Prepaid/Accrued Pension Cost 1,357

Prepaid/Accrued Pension Cost 1,500Cash 1,500

New contributions to pension fund

Service cost ($1,339) + Interest cost ($1,218) – Expected return ($1,200)

Note - A compound entry could have been made

29Comprehensive Pension Illustration - The Basic Spreadsheet Approach – see page 1060

Formal Accounts Memorandum AccountsPrepaid/ Periodic

Net Accrued Pension Fair ValuePension Pension Cost/Expense of PlanExpense Cash Cost Items PBO Assets (FVPF)

Beginning Balances(a) Service Cost

(b) Interest Cost

(c) Actual Return

(d) Benefits Paid

(e) PSC Amortization(g) Deferred Loss

(h) Amort. of Deferred Loss

Summary Journal Entries(1) Accrual Pension

Expense Accrual

(2) Annual Pension Contribution

(3) Minimum Liability Adjustment

UnrecognizedPrior Service

Cost

30

Formal Accounts

NetPensionExpense Cash

Prepaid/AccruedPension

Cost

Left Side of Work SheetLeft Side of Work Sheet

31

Formal Accounts

• Records total pension costs accrued.• Debited for the sum of all periodic

pension cost items.



Cost

32

Formal Accounts



Cost

• Records cash expended for contributions to plan assets.

• Debited for actual amount of cash contributed to pension fund.

33

Formal Accounts



Cost

• Reflects changes in net pension asset or liability.

• Debited for cash contributions to pension plan assets.

• Credited for net pension cost.

34

Formal Accounts

Right Side of Work SheetRight Side of Work Sheet

ProjectedBenefit

Obligation

Fair Value of Pension

Fund


Cost

PeriodicPension

Cost Items

35

Memorandum Accounts

ProjectedBenefit

Obligation


Fund


Cost

PeriodicPension

Cost Items

• Records noncurrent asset arising from recognition of additional pension liability for unfunded pension plans.

• Account balance should not exceed the sum of unrecognized transition loss plus prior service costs.

36

Memorandum Accounts

Actuarial present value of pension benefits. Uses the benefits per year of service approach. Assumes future compensation levels.

PBOEoY

=PBOBoY

+Service

CostInterest

Cost+ ±

Change inActuarial

Assumptions

RetirementBenefits

Paid–

ProjectedBenefit

Obligation


Fund


Cost

PeriodicPension

Cost Items

37

Memorandum Accounts

• Amount that could be received from the sale of plan assets in a current sale between a willing buyer and seller.

• Increased by employer/employee contributions.• Decreased by benefits paid.FVPFEoY

= FVPFBoY

+ Contributions –Benefits

Paid±

ActualReturn

on Assets

ProjectedBenefit

Obligation


Fund


Cost

PeriodicPension

Cost Items

38

Memorandum Accounts

When a pension plan is initially adopted or amended to provide increased benefits, employees are granted additional benefits for services performed in years prior to the plan’s adoption or amendment.

ProjectedBenefit

Obligation


Fund


Cost

PeriodicPension

Cost Items

39Thornton Electronics, Inc.—Pension Work Sheet for 2005



Cost

Balance, 1/1/05 $ (40,000 )



40



ProjectedBenefit

Obligation


Fund


Cost

Balance $(1,500,000) $1,385,000 $75,000

Thornton Electronics, Inc.—Pension Work Sheet for 2005

PeriodicPensionExpense

Items

41



Cost

Balance, 1/1/05 $ (40,000 )

(a) Service Cost




42



ProjectedBenefit

Obligation


Fund


Cost

Balance $(1,500,000) $1,385,000 $75,000(a) $ 75,000 (75,000)



Items

43



Cost

Balance, 1/1/05 $ (40,000 )

(a) Service Cost(b) Interest Cost




44



ProjectedBenefit

Obligation


Fund


Cost

Balance $(1,500,000) $1,385,000 $75,000(a) $ 75,000 (75,000)



Items

(b) 165,000 (165,000)

45

Actual Return on the Pension Fund

Actual Return on the Pension Fund

Fair value of pension fund, 12/31/05 $1,513,500Fair value of pension fund, 1/1/05 1,385,000Increase in fair value $ 128,500Add benefits paid 125,000Deduct contributions made (115,000) Actual return on the pension fund $ 138,500


46



Cost

Balance, 1/1/05 $ (40,000 )

(a) Service Cost(b) Interest Cost(c) Actual Return




47



ProjectedBenefit

Obligation


Fund


Cost

Balance $(1,500,000) $1,385,000 $75,000(a) $ 75,000 (75,000)



Items

(b) 165,000 (165,000)

(c) (138,500) 138,500

48



Cost

Balance, 1/1/05 $ (40,000 )

(a) Service Cost(b) Interest Cost(c) Actual Return(d) Benefits Paid




49



ProjectedBenefit

Obligation


Fund


Cost

Balance $(1,500,000) $1,385,000 $75,000(a) $ 75,000 (75,000)



Items

(b) 165,000 (165,000)

(c) (138,500) 138,500(d) 125,000 (125,000)

50

Amortization of Unrecognized Prior Service CostAmortization of Unrecognized Prior Service Cost

Ten percent (15 employees) are expected to retire or quit with vesting privileges.

N(N + 1)2

x D = Total future years of service

10(10 + 1)2

x 15 = 825

150825

x $75,000 = $13,636

15 employees

for 10 years



51



Cost

Balance, 1/1/05 $ (40,000 )

(a) Service Cost(b) Interest Cost(c) Actual Return(d) Benefits Paid(e) PSC Amortization




52



ProjectedBenefit

Obligation


Fund


Cost

Balance $(1,500,000) $1,385,000 $75,000(a) $ 75,000 (75,000)



Items

(b) 165,000 (165,000)

(c) (138,500) 138,500(d) 125,000 (125,000)

(e) 13,636 (13,636)

53



Cost

Balance, 1/1/05 $ (40,000 )

(a) Service Cost(b) Interest Cost(c) Actual Return(d) Benefits Paid(e) PSC Amortization1) Annual Pension

Expense Accrual $115,136 (115,136 )



Left Side of Work Sheet


54



Cost

Balance, 1/1/05 $ (40,000 )

(a) Service Cost(b) Interest Cost(c) Actual Return(d) Benefits Paid(e) PSC Amortization1) Annual Pension

Expense Accrual $115,136 (115,136 )





Contribution (115,000) 115,000(2) Annual Pension

55

Right Side of Work SheetRight Side of Work Sheet ContinuedContinuedContinuedContinued

ProjectedBenefit

Obligation


Fund


Cost

Balance $(1,500,000) $1,385,000 $75,000(a) $ 75,000 (75,000)



Items

(b) 165,000 (165,000)

(c) (138,500) 138,500(d) 125,000 (125,000)

(e) 13,636 (13,636)(1)(2) 115,000

56



Cost

Balance, 12/31/05 $ (40,136 )




Only column added on the left side of the

work sheet

Only column added on the left side of the

work sheet


57



ProjectedBenefit

Obligation


Fund


Cost

12/31/05 $(1,615,000) $1,513,500 $61,364



Items

58Thornton Electronics, Inc.—Pension Work Sheet for 2005

Prepaid/Accrued Pension Cost 115,000Cash 115,000 To record 2005 contribution to the pension plan.

Prepaid/Accrued Pension Cost 115,000Cash 115,000 To record 2005 contribution to the pension plan.

Pension Expense 115,136 Prepaid/Accrued Pension Cost 115,136 To record accrual of net pension expense for 2005

Pension Expense 115,136 Prepaid/Accrued Pension Cost 115,136 To record accrual of net pension expense for 2005

59Corridor Amortization of Unrecognised Net Pension Gain/ Loss

• If actual return of pension fund > estimated return, then the difference = Gain to be deferred

–The financial statement effect =

• Increase Pension Expense & Decrease Net Pension Liability

–The Memorandum entries =

• Debit Pension expense & Credit Unrecognized Net Pension Gain/Loss

• If actual return of pension fund < estimated return, then the difference = Loss to be deferred

–The financial statement effect =

• Decrease Pension Expense & Increase Net Pension Liability

–The Memorandum entries =

• Credit Pension expense & Debit Unrecognized Net Pension Gain/Loss

a. Differences between actual & expected return


• If PBO should increase

b. Differences in Actuarial estimates of BPO

•The financial statement effect = nil

•The Memorandum entries =

Credit PBO & Debit Unrecognized Net Pension Gain/Loss


– market-related value of plan assets at the beginning of the year.

• Amortization is required only on portion of unrecognized net gain or loss that exceeds 10% of the greater of:– PBO, or

• May use any amortization method that equals or exceeds straight-line amortization over remaining expected service years of covered employees, and is consistently applied.

See Thornton Electronics 2006 & 2007 pages 1063-1067

62

Minimum Pension LiabilityMinimum Pension Liability

• Net amount of pension liability that must be reported for underfunded plans.

• Measured as difference between ABO and Fair Value of Plan Assets.

• Net amount of pension liability that must be reported for underfunded plans.

• Measured as difference between ABO and Fair Value of Plan Assets.

Minimum Pension ABO – FV Plan Liability Assets=

See pages 1067 – 1068: Quite Interesting!

63

Deferred Pension Cost

Clapton Corporation computes the following balances as of December 31, 2005:

Clapton Corporation computes the following balances as of December 31, 2005:

Accumulated benefit obligation $1,250,000Fair value of the pension fund 1,140,000Accrued pension cost 16,000Unrecognized prior service cost 80,000

If an employer is required to record an additional pension liability as a result of applying the minimum

liability provisions, FASB Statement No. 87 indicates that the offsetting charge should be to the Deferred Pension Cost account, which is an intangible asset.

64

Deferred Pension Cost

The minimum pension liability is $110,000 ($1,250,000 – $1,140,000). An additional pension liability of $94,000 ($110,000 –

$16,000) would be recorded.

The minimum pension liability is $110,000 ($1,250,000 – $1,140,000). An additional pension liability of $94,000 ($110,000 –

$16,000) would be recorded.

Deferred Pension Cost 80,000Excess of Additional Pension Liability over Unrecognized Prior Service Cost* 14,000

Additional Pension Liability 94,000 To recognize additional pension liability.

* This is a contra equity account reported as part of “Accumulated other comprehensive income”

65

Disclosure of Pension Plans

Statement No. 132 requires the following major disclosure requirements for most publicly traded companies:

1. A reconciliation between the beginning and ending balances for the projected benefit obligation

2. A reconciliation between the beginning and ending balances in the fair value of the pension fund

3. A disclosure of the accumulated benefit obligation when the ABO exceeds the fair value of the pension fund

4. The funded status of the plans, the amounts not recognized in the balance sheet, and the amount recognized in the balance sheet


66


5. The components of pension expense for the period

6. Any effects on the other comprehensive income section as a result of changes in the additional pension liability

7. The assumptions used relating to (a) discount rate, (b) rate of compensation increase, and (c) expected long-term rate of return on the pension fund

8. Certain information about postretirement benefits

67


Statement No. 132 added that an employer must disclose the amount of pension expense

recognized for defined contribution plans separately form the amount of expense recognized for defined benefit plans.

In addition, the nature and effect of any significant changes during the period should be

disclosed.

Statement No. 132 added that an employer must disclose the amount of pension expense

recognized for defined contribution plans separately form the amount of expense recognized for defined benefit plans.

In addition, the nature and effect of any significant changes during the period should be

disclosed.

68Pension Settlements and Curtailments

Curtailment of a pension plan arises from an event that significantly reduces the benefits that will be provided for present employees’

future services. E.g. discontinuation of a segment or the suspension of a plan

Curtailment of a pension plan arises from an event that significantly reduces the benefits that will be provided for present employees’

future services. E.g. discontinuation of a segment or the suspension of a plan

• Termination of an employee earlier than expected• Termination or suspension of a pension plan

Settlement of a pension plan occurs when an employer takes an irrevocable action that relieves the employer of primary responsibility for all or part of

the obligation. E.g. the purchase of an annuity or a lump-sum cash payment to the employee

69International Pension Accounting Standards

IFRS 19 was revised to require that a company’s pension obligation be measured using the same approach as is used under U.S. GAAP.

IFRS 19 was revised to require that a company’s pension obligation be measured using the same approach as is used under U.S. GAAP.

IFRS 19 does not include any provision for the recognition of an additional minimum liability.

IFRS 19 does not include any provision for the recognition of an additional minimum liability.

IFRS 19 does not allow the recognition of a net pension asset unless the amount is less than the discounted present value of any employee refunds to the company plus any anticipated reductions in future pension contributions.

IFRS 19 does not allow the recognition of a net pension asset unless the amount is less than the discounted present value of any employee refunds to the company plus any anticipated reductions in future pension contributions.

UK’s FRS 17 – Pension gains and losses are recognized immediately

70

The EndThe End

chapter 17

1 Employee Compensation—Payroll, Pensions, and Other Compensation Issues chapter 17.

Documents

Transcript of 1 Employee Compensation—Payroll, Pensions, and Other Compensation Issues chapter 17.