Thirteenth Month

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Thirteenth Month

An accounting method that recognizes write-offs and unusual income in an artificially created 13th month. This allows an organization to consider the strength of its finances from ordinary operations in the other 12 months.
References in periodicals archive ?
Duterte said then, adding that employers tried to get away with not paying workers their bonuses and 13th month pay by ending their contract (endo) before they automatically become regular employees after six months on the job.
Christopher Edeh, commended the governor for the 13th month salary he paid the civil servants of the state as Christmas gift, saying that 'Gov.
Canete of DOLE 6 said in a press report that the 13th month pay must be given on or before December 24, 2017.
But it would be better than not giving the 13th month pay at all," Say said.
MANILA, Philippines The tax exemption cap of 13th month pay and other bonuses will be raised to P90,000 effective next year, as agreed upon by members of the bicameral conference committee on the Tax Reform for Acceleration and Inclusion (TRAIN) bill.
This is the 13th month that the bank has kept its policy unchanged.
5 billion (USD 164 million) in June, falling for 13th month in a row, as exports decline more than half.
The North East transport/haulage sector has been ranked as the most stable of its peers across the UK for the 13th month in a row, while the region's restaurant sector is once again top of its national rankings for a fifth consecutive month.
Despite an increase in new orders and business activity, volume of outstanding business fell for the 13th month in a row.
It was the 13th month in a row of decreases, the longest such stretch in data going back to 1989.
The irony is that Minister Georghiades will probably find unexpected support from the civil servants, whose 13th month bonus will not be paid if the next tranche of bailout money does not arrive in time.
13th month salaries for existing company employees will also be capped at EUR6'000 with newly-hired hands to receive nothing.