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.
Forensic Accounting is the specialty practice area of accounting that describes engagements that result from actual or anticipated disputes or litigation.âForensicâ means suitable for use in Court, and it is to that standard and potential outcome that forensic accountants generally have to work.orensic Accounting is the specialty practice area of accounting that describes engagements that result from actual or anticipated disputes or litigation.