HR Finance 101: A Guide To Finance for HR
AIHR
JANUARY 11, 2023
Labor costs like salaries, benefits, and related taxes make up as much as 70% of total operating costs of a business. For example, when a company pays a wage for a service rendered, the amount is recorded in the wages payable account of the balance sheet. It refers to the outflow of cash in return for incoming goods or services.
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