Question

As per AS – 15, Salary, wages, allowances

bonus are all benefits payable to employees

_____________​

Answer 1

As per AS – 15, Salary, wages, allowances  bonus are all benefits payable to employees within the service.

• Accounting Standard 15, typically includes various types of financial gains and key compensations being voluntarily offered by a business in successful return for services offered by the potential employees.
• An employee is accurately identified for the practical purposes of AS 15.
• It is an employee who on a full-time, part-time, casual, or permanent basis, provides active services to a business.  
• Under the concept of staff, AS 15 additionally includes directors and other management personnel.