PENSION Definition

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PENSION is a regular payment to a person that is intended to allow them to subsist without working, e.g. a retirement fund for employees paid for or contributed to by an employer as part of a package of compensation for the employees work.

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ARGUMENT IN ACCOUNTING usually revolves around the premise that characterizes fair values of assets as being more relevant but less reliable than their historical costs, with fair value being ultimately more informative only if its increased relevance outweighs its reduced reliability.

RELATIVE CHANGE is a value that is properly related in size or degree or other measurable characteristics, e.g. cost of goods enjoyed a relative change of 9% as compared to prior period performance.

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