Page 88 - Microsoft Word - 00 ACCA F2 Prelims.docx
P. 88
Chapter 6
1.6 Piecework payments
Employees are paid per unit of output produced. This is method of ‘payment by
results’.
1.7 Guaranteed minimum payment
A minimum take home wage which is not determined by hours worked or units
produced.
1.8 Incentive (bonus) schemes
Incentive schemes can be based on an individual’s achievement or a group of
workers meeting and exceeding targets.
82