Thirteenth Month

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 ?
Otherwise known as the Thirteenth Month Pay Law, it requires all employers in the private sector to pay their rank-and-file employees a 13th Month Pay on or before 24 December of every year.
Just to give an example, a call center agent with a 22,000 monthly salary with thirteenth month and a few bonuses currently have to pay 22,000 per year in taxes.
Gordon, "#323: Aviv Not Found, Thirteenth Month to Begin after Shabbat", Karaite Korner Newsletter (March 6, 2008).
New business increased for the thirteenth month in succession.
Bello observed that the RFA involved underpayment of wages, non-payment of over-time pay, holiday pay and thirteenth month pay, non-coverage of social protection benefits under SSS, Philhealth, and Pag-ibig, and illegal dismissal cases.
In the latest economic data reports, Chinese exports fell for the fifth straight month, down almost 7% from the previous year, despite multiple devaluations of its currency, and imports tumbled almost 9%, down for the thirteenth month in a row.
4 per cent in September, with data released yesterday showing the thirteenth month running of increases as a recovery in the market spreads across the continent.
We generated enough revenue during those two weeks to add a thirteenth month to our year," he said.
This led companies to maintain their recent recruitment drives, with overall employment levels rising for the thirteenth month in a row, the survey said.
HSBC reported that suppliers' delivery times have lengthened for the thirteenth month in a row in December, but at a slower pace than in previous months.
THE North-east economy has grown for the thirteenth month in a row and at its fastest pace since April, new data has shown.
The region remained in recession for a thirteenth month in June, though the rate of decline was slower than at any time since the downturn began.