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This chapter is from the book

Key Concepts in This Chapter

  • Flow of compensation and benefits cost outlays
  • Costs versus expenses
  • CAPEX
  • OPEX
  • Compensation and benefits cost elements
  • Understanding base pay
  • Base pay outflows
  • Current accounting for compensation and benefit cost elements
  • Payroll accounting
  • Record keeping of HR cost elements within the accounting cycle
  • Technical issues with respect to compensation and benefit cost elements
  • The definition of all compensation and benefit terms
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