refinanced. T 7. Accounting for sales tax collected. F 8. Accounting for sick pay. T 9. Social security taxes as liabilities. F 10. Definition of accumulation rights. T 11. Recognizing compensated absences expense. F 12. Accruing estimated loss contingency. T 13. Disclosing gain contingencies. F 14. Sales-type warranty profit. T 15. Fair value of asset retirement obligation. T 16. Reporting a litigation liability. F 17. Expense warranty approach. F 18. Acid-test ratio components
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6: Session 6: Audit Evidence‚ Internal Control and Audit testing. • Internal Controls Systems Over The Payroll Cycle • Internal Control Checklists For The Payroll Cycle • Tests Of Control Of Payroll • Internal Controls Systems Over The Stock Cycle • Internal Control Checklists For The Stock Cycle • Tests Of Control Of Stock INTERNAL CONTROLS OVER PAYROLL To understand the need for controls‚ it is helpful to break down the payroll process into its
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System Proposal: “Automated Payroll System (APS)” MAIN OBJECTIVE: Computers have the great impact on the profession of accounting. With the rapid growth of technology today‚ there is no doubt that computer will become a common asset in all profession. As computer technology changesat such fast phase‚ many businesses sectors try to cope up by upgrading computer system constantly in order to stay competitive. The multi-function ability of technology for its advance system is also an important
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When your small business chooses new payroll software‚ the process of implementing the new system can be overwhelming to many business owners. The payroll services experts at Simplified Tax Inc in Sparta‚ WI‚ understand that implementing a payroll system requires extensive preparation and patience. Their tax experts explain the process of creating a seamless payroll process. Before your new payroll software is implemented‚ make sure your current payroll department procedures are reviewed by your
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History: More Than 85 Years of Philippine Partnership Caltex gained its foothold in the Philippines in 1917 when Texas Company (as Texaco was then known) began marketing the products in the Philippines through a local distributor‚ Wise and Co. Four years later‚ Texaco (Philippines) was formally established and opened its office in Binondo‚ Manila. Eleven years later‚ its Pandacan warehouse depot was converted into a key distribution terminal to bring products by barge to nearby provinces. By 1936
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Accounting Information Systems Test Bank 10th Edition Chapter 1 (new version) MULTIPLE CHOICE 1. A set of two or more interrelated components that interact to achieve a goal is: a) A system b) An accounting information system c) Data d) Mandatory information 2. This results when a subsystem achieves its goals while contributing to the organization’s overall goal. a) Goal conflict b) Goal congruence c) Value of information d) Systems congruence 3. Goal conflict may result when a) A decision
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PAYROLL SYSTEM 1. Background of the Problem/Opportunity 2. Project Scope and Constraint The scope of the project covers the upgrade of the existing payroll system of the Catanduanes State Colleges‚ from a computer-based system to a web-based system. The system shall maintain a database that will store and maintain the updated Payroll Data‚ Deductions and salary information and compute employees’ salaries. The new system‚ as a web-based system‚ will allow employees to access the system through
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CHAPTER I INTRODUCTION 1 Background Of The Study Processing payroll can be one of the most complex tasks facing a company. Aside from simply paying employees‚ companies will need to file taxes‚ submit reports and process year-end data for tax-reporting purposes. These problems are being encountered by several companies. The manual payroll system they are currently using calculates the payroll for each pay period entirely on paper. They will need to calculate taxes‚ over time‚ under time and any
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computer‚ you will see all sorts of information that could readily be seen on the computer screen. It is then with this purpose that the researchers innovated this Computerized Payroll System for Volunteer for the Visayans that will aid in the conduct of easy systematic and fast access of files. This Computerized Payroll System will provide the establishment with much different application such as computing the salary/ies of the employees of their establishment‚ employees list‚ about their establishment
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get output without any delay. The term ’payroll’ encompasses every employee of a company who receives a regular salary‚ wage or other bonuses and compensation. Some employees may be paid a steady salary while others are paid for hours worked or the number of items produced. All of these different payment methods are calculated by a Payroll Management System. In this project we are can also keep some personal information of that employee along with payroll calculation. This system helps organization
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