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salary

(Dictionary)

Author:
Harold Averkamp, CPA, MBA

Definition

The compensation usually associated with executives, managers, professionals, office employees, etc. whose pay is stated on an annual or on a monthly basis. (On the other hand, “wages” is usually associated with employees whose pay is stated on an hourly basis.) To learn more, see Explanation of Payroll Accounting.

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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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