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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5 Problem 1: Suppose the parameters of the IS curve are a ¯ = 0‚ ¯b = 3/4‚ r¯ = 0.02‚ and the real interest rate is initially R = 0.02. Explain what happens to short run output in each of the following scenarios (consider each one separately). a) R rises to 4 percent. b) R falls to 1 percent. c) a ¯c increases by 1 percentage point. d) a ¯g decreases by 2 percentage points. e) a ¯im decreases by 2 percentage points. Answer to Problem 1: This is just a straightforward application of the IS formula
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Chapter 5 – Mankiw SOLUTIONS TO TEXT PROBLEMS: Quick Quizzes 1. The price elasticity of demand is a measure of how much the quantity demanded of a good responds to a change in the price of that good‚ computed as the percentage change in quantity demanded divided by the percentage change in price. When demand is inelastic (a price elasticity less than 1)‚ a price increase raises total revenue‚ and a price decrease reduces total revenue. When demand is elastic (a price elasticity greater than 1)‚
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accounting quiz 1 [pic] 1 The primary purpose of accounting is to determine whether the business entity is profitable or unprofitable in its operations. A) True B) False This is the correct answer. Feedback: The primary purpose of accounting is to provide information that is useful for decision-making purposes. Accounting is ’not an end’‚ but rather it is a ’means to an end.’ LO 1 2 Costs‚ prices‚ sales volume‚ profits‚ and return on investment are all accounting measurements. A) True
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Strategic Compensation‚ 7e (Martocchio) Chapter 4 Incentive Pay 1) Which of the following is true concerning incentive pay? A) The award is earned only when the predetermined work objective is totally completed. B) Motivates employees to be more productive‚ but does little to control payroll costs. C) Awards are granted in one-time payouts. D) Incentive levels are generally subjective in nature. Answer: C Difficulty: Difficult Type: Concept Learning Obj: 1 2) Which of the following is true
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CHAPTER 4 THE ACCOUNTING CYCLE: ACCRUALS AND DEFERRALS OVERVIEW OF BRIEF EXERCISES‚ EXERCISES‚ PROBLEMS‚ AND CRITICAL THINKING CASES Brief Exercises B. Ex. 4.1 B. Ex. 4.2 B. Ex. 4.3 B. Ex. 4.4 B. Ex. 4.5 B. Ex. 4.6 B. Ex. 4.7 B. Ex. 4.8 B. Ex. 4.9 B. Ex. 4.10 Learning Objectives 3‚ 4 3‚ 4 3 3 6 4 5 5 5 8 Topic Deferred expenses and revenue Deferred expenses and revenue Accounting for supplies Accounting for depreciation Accrued revenue Unearned revenue Accrued salaries Accrued interest Accrued
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KEY PROBLEM 1 Suppose a candy company roaster producing generic suckers (measured by Q) has the following cost function: C(q) = 1 3 1 2 q − q + 3q + 180 1500 15 A i) Using the cost function‚ set-up functions to demonstrate the following costs: a) Fixed costs b) Variable costs c) Average fixed costs d) Average variable costs e) Average total costs e) Marginal cost of production Fixed Costs = FC(q) = 180 Variable Costs - VC(q) = 1 3 1 2 q − q + 3q 1500 15 AFC(q)
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An aging of a company’s accounts receivable indicates that $4‚500 are estimated to be uncollectible. If Allowance for Doubtful Accounts has a $1‚200 credit balance‚ the adjustment to record bad debts for the period will require a debit to Allowance for Doubtful Accounts for $3‚300. debit to Bad Debt Expense for $4‚500. credit to Allowance for Doubtful Accounts for $4‚500. debit to Bad Debt Expense for $3‚300. The financial statements of the Melton Manufacturing Company reports net sales
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developing learning programs‚ and shackle key people with golden handcuffs.”23 In addition‚ people are less likely to leave an organization if there are effective structures to promote teamwork and information sharing‚ strong leadership that encourages innovation‚ and cultures that demand excellence and ethical behavior. Such issues are central to this chapter. Although we touch on these issues throughout this chapter‚ we provide more detail in later chapters. We discuss organizational controls (culture
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BSA 3-14 ACCO 3116 Prof. Flora Briones Chapter 20 SUBSTANTIVE TESTS OF TRANSACTIONS AND BALANCES 1. What is a cutoff bank statement? How is it used by the auditor? Cut off bank statement is the statement of transactions occurred for the 7 to 14 consequent days from the closing date of financial statement like Dec 31 provided by banks. It is used by the auditors to check the accuracy of checks outstanding and deposits in transit in accounting. 2. Why should all cash funds be counted
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