Severance pay is a payment made by the employer when the employee is separated from the job. severance pay was not used to determine a workerâs eligibility for unemployment benefits. benefits. payable in the weeks to which the severance payment is allocated or distributed.
forensic accounting. Definition. A method of accounting that deals with financial procedures that have been challenged or charged as illegal. One example of forensic accounting is examining insurance fraud claims. Related Terms.
BREAKING DOWN 'Residual Income' Residual income, at its highest level, measures the amount of money that's left over after all required costs of capital have been paid for the period being analyzed. Therefore, residual income is used in personal finance and corporate finance. Residual Income for Personal Finances