Popular Terms. Government actions which affects the operations of a company or business. These actions may be on local, regional, national or international level. Business owners and managers pay close attention to the political environment to gauge how government actions will affect their company.
Salary payments. An annual salary is an agreement about the amount of pay for work over a 12 month period. They are often included in employment contracts. An employer and employee can agree that an annual salary covers entitlements like: 1  minimum weekly wages. 2  penalties. 3  overtime. 4  allowances. 5  annual leave loading.n annual salary is an agreement about the amount of pay for work over a 12 month period. They are often included in employment contracts.
At any time an employee is owed two separate amounts-Holiday Pay and Annual Leave Due. If the employee leaves during the second year they will be paid out the Holiday Pay for that part year, and any Annual Leave Due.There is a good example of this on the Department of Labour website: http://www.dol.govt.nz/er/holidaysandleave/annualleave/employee-resignation-termination.asp.nnual Leave Accrued is equivalent to the Holiday Pay but won't necessarily be the same value because 4/52 is not the same as 8% and the value of hours accrued can increase over time if the employee's pay rate increases or their average rate increases due to overtime paid at a higher hourly rate.