[Baertram]

Yes looks good
Added a few comments, hope it's understandable.
Maybe that helps you too:

function FarmersToolkit.BountyCheck()
 
        local CurBounty=GetFullBountyPayoffAmount(); --lua does not need the ; at line ends (allthough they raise no error)
        local identifier="FarmersToolkit-BountyCheck";
 
        -- local reference variable to speed up things a bit. Can help if you access the same variables more than once.
        -- Else it would each time completely search your table FarmersToolkit for the variable BountyValue again!
        -- If you put a local reference it directly points there and can read and write that table's variable too
        local FTbountyValue = FarmersToolkit.BountyValue
 
 
        -- In case this is the first time we've been called this session...
        FTbountyValue = FTbountyValue or 0 --checks if it's ot nil and uses itssself then, or else defaults it to 0
 
        if ( CurBounty == 0 ) then  -- We have no bounty, whew!
                if ( FTbountyValue > 0 ) then -- We may have a outstanding timer event tho
                        EVENT_MANAGER:UnregisterForUpdate(identifier)
                end
 
                FTbountyValue = 0; -- Zero out internal counter / tracker
                FarmersToolkit.UpdateActivities(); -- Update the screen
                dft_debug("BountyCheck indicates you are safe as of " .. os.time() .. "!"); -- Debug
                dft("Bounty appears cleared, cancelling timers - happy hunting."); -- Announce
        else
                if ( ( FTbountyValue == 0 ) and ( CurBounty > 0 ) ) then -- This is the onset of a bounty
                        dft("Bounty detected (" .. CurBounty .. "), updates posted to screen until cleared.");
                end
                FarmersToolkit.UpdateActivities();
                FTbountyValue=CurBounty;
                dft_debug("BountyCheck = " .. CurBounty .. ", timer set for 15 seconds as of " .. os.time());
                EVENT_MANAGER:UnregisterForUpdate(identifier)  -- Just in case
                EVENT_MANAGER:RegisterForUpdate(identifier, 15000, FarmersToolkit.BountyCheck)
        end
 
end -- FarmersToolkit.BountyCheck