This article focuses on accounting for guaranteed wage plans. Most of the wage leveling plans are basically employee withholding plans whereby some of the earnings of the employee are withheld and are paid to him later when his earnings are low. The obvious disadvantage of this plan lies in the employee's reluctance to having part of his earnings withheld. The majority of wage leveling plans have therefore created little employee enthusiasm, for they are little more than savings plans, supervised by the company. A major difference between the leveling and the minimum-guarantee type of plan is the number of employees that are covered. Where the wage process is primarily one of leveling wages, there is no excessive cost to the employer for time not worked. One of the most complex accounting problems arising out of recent developments in guaranteed wage payments is concerned with the special exemptions allowed for the payment of overtime premiums under the Fair Labor Standards Act. The record-keeping process is further complicated if the company is to take advantage of the overtime premium relief provisions of the Fair Labor Standards Act.

The article presents matters related to accounting for students of accounting. The students of today will be the practitioners of tomorrow. One of these is the trend toward a constantly increasing proportion of fixed to total costs. The article presents theory cases for undergraduate courses. After some examination, the writers have found a means of achieving, in part, some of these goals. In a two-hour undergraduate course called "Current Accounting Topics," an effort is made to give students something other than conventional text-book material and to encourage the discussion of matters of theory in a framework that differs from the usual problem-solving approach. The article also presents a simplified three variance technique. The basic concepts involved in calculating the three components that make up the difference between manufacturing expenses incurred and the amount that is charged to production under a standard cost system are difficult matters for most students of cost accounting. The article describes about helping accounting students to learn how to analyze a business transaction.