Business and Econ Statistics solutions CHAPTER 1 The Changing Role of Managerial Accounting in a Dynamic Business Environment ANSWERS TO REVIEW QUESTIONS 1-1 The explosion in e-commerce will affect managerial accounting in significant ways. One effect will be a drastic reduction in paper work. Millions of transactions between businesses will be conducted electronically with no hard-copy documentation. Along with this method of communicating for business transactions comes the very
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Report On “PAYROLL MANAGEMENT SYSTEM” Prepared by:- Sanura Nilesh R.(110573116006) Padariya Sanket M.(110573116010) Submitted to:- Prof. Sushmita Mandal Assistant Professor of IT Department Marwadi Education Foundation Group Of Institutions Payroll Management System: Payroll is very simple‚ flexible and user-friendly Management software. That takes care of all your requirements relating to accounting and management of employees’ Payroll. Payroll stores complete
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CHAPTER 11 DECISION MAKING AND RELEVANT INFORMATION SHORT‐ANSWER QUESTIONS 11‐1 The five steps in the decision process outlined in Exhibit 11‐1 of the text are 1. Identify the problem and uncertainties 2. Obtain information 3. Make predictions about the future 4. Make decisions by choosing among alternatives 5. Implement the decision‚ evaluate performance‚ and learn An example of interdependencies include absenteeism/low employee morale and increased labour costs. 11‐2
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2 Company Operations Tutorial Solutions Chapter 3 Company operations Review Questions 11. When do dividends become a legal debt of the company? When are they to be recognised as liabilities? Where a company has a constitution that provides for directors to declare a dividend‚ then a dividend becomes a debt of the company once the dividend is declared. Where no such statement exists in a company’s constitution‚ then the debt will only arise when the time for payment of the dividend arrives. However
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Payroll In a company‚ payroll is the sum of all financial records of salaries for an employee‚ wages‚ bonuses and deductions. In accounting‚ payroll refers to the amount paid to employees for services they provided during a certain period of time. Payroll plays a major role in a company for several reasons. From an accounting perspective‚ payroll is crucial because payroll and payroll taxes considerably affect the net income of most companies and they are subject to laws and regulations. Definition
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taps payroll management standards peace of mind Payroll Management Australian Industry Standards February 2003 payroll.com.au Prepared By: 7 | 72 p f pitt street‚ sydney nsw 2000‚ australia +61 2 9233 3799 +61 2 9233 3755 taps payroll management standards peace of mind notes These Standards cover the key areas of Payroll Management: • • • Payroll Operations Payroll System Administration Payroll Accounting These Standards have been accredited by: TAPS - The Association
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Question 1: Define accounting. Answer : Accounting is a process of identifying the events of financial nature‚ recording them in Journal‚ classifying in their respective ledgers‚ summarising them in Profit and Loss Account and Balance Sheet and communicating the results to the users of such information‚ viz. owner/s‚ government‚ creditors‚ investors etc. According to the American Institute of Certified Accountants‚ 1941‚ “Accounting is an art of recording‚ classifying and summarising in a significant
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Payroll Kudler Fine Foods uses a biometric time system which requires the usage of time clocks to monitor the time employees engaged in work responsibilities. The method requires the use of a finger touch pad to identify the numerous time punches made by the employee. The employees information is entered upon hired into the company’s payroll system. Based on the numerous time punches made‚ the organization evaluates the employees work hours and computes the employees salary. The computation for
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Chapter 5: Cost Behavior: Analysis and Use As we shall see in later chapters‚ the ability to predict how costs respond to changes in activity is critical for making decisions‚ controlling operations‚ and evaluating performance. Three major classifications of costs were discussed in this chapter—variable‚ fixed‚ and mixed. Mixed costs consist of variable and fixed elements and can be expressed in equation form as Y = a + bX‚ where X is the activity‚ Y is the cost‚ a is the fixed cost element‚ and
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Corporation is currently having difficulties in managing employee records‚ generating on-time payroll reports and maintaining confidentiality of employee’s records. Specific Problem 1. Inefficient file management. Difficulty in locating files and some specific files cannot be found and causes inefficiency of service. 2. Inconsistency in generating on-time salary reports. Difficulty in generating on-time payroll reports that causes delay in releasing of salaries that leads to less productivity of
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