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.
EXECUTIVE SUMMARY This Statement on Management Accounting(SMA) presents a new definition of managementaccounting, together with an explanation of thebackground leading to the new definition, theprocess undertaken to prepare the definition,and the criteria and rationale used in developingthe new definition.he new definition is: Management accounting is a professionthat involves partnering in managementdecision making, devising planning andperformance management systems,and providing expertise in financialreporting and controlto assist manage-ment in the formulation and implemen-tation of an organizationâs strategy.