Discuss five of the most important internal control activities of payroll and personnel cycle? Provide Examples?

Q: A distinguishing feature of managerial accounting isa. external users.b. general-purpose reports.c.…

A: Managerial accounting: It can be defined as a branch of accounting that is concerned with the…

Q: GENERAL LEDGER/REPORTING SYSTEM. Please explain how each cycles in the business process/transaction…

A: General Ledger Reporting system The preparation of the general Ledger is one of the important…

Q: How do you prepare an income statement/calculate the operating income in managerial accounting?

A: Income statement: Income statement is a main part of financial statement. All revenues and expenses…

Q: hich among the following is an example of qualitative data? a. Opinion poll b. Payroll data c.…

A: Qualitative data means the data which shows the character or feature of the data but does not show…

Q: What is the departmental accounting system

A: solution concept department in an organization There are various departments in an organization for…

Q: What is the purpose of Financial Reporting Releases and Staff Accounting Bulletins?

A:

Q: What is the importance of the job ticket? Illustrate, through a program flowchart, the flow of job…

A: Importance of job ticket : Job ticket is an important element in job costing. Job ticket is a ticket…

Q: What can be understood by Staff Accounting Bulletins?

A: International Financial Reporting Standards (IFRS):  International Financial Reporting Standards is…

Q: Design and perform tests ofdetails of balances for accounts inthe payroll and personnel cycle.

A: Step 1 Identification of transactions and accounts in personnel and payroll cycle.   Initially, the…

Q: Establish the payroll requirements for an organisation: describe the scope of payroll services that…

A: The asked question has multiple parts in it. Let's answer them one by one: 1. Establish the payroll…

Q: How do companies account for and record payroll, and what journal entries do they use ?

A: Payroll Accounting is the branch study of accountancy in which the transactions related to payroll…

Q: c. The GIFMIS interfaces with a number of systems and sub-systems. A number of these systems and…

A: The abbreviation of GIFMIS is Government Integrated Financial Management Information System. It is…

Q: Identify an activity base that could be used to charge user divisions for services for each…

A: Concept Introduction: Activity Based Costing (ABC): ABC costing method is generally used to allocate…

Q: Search the term "payroll accounting" to read personal perspectives about payroll practice,…

A: Payroll accounting is the accounting which is that branch of accounting which deals with the…

Q: Corporate Law Department cost after allocations is closest to:

A: Service department (Personnal) Service department (IT) Operating department (Family law) Operating…

Q: Define in detail the basic activities performed in the revenue cycle along with its key decisions…

A: Revenue cycle refers to the method which compiles the sets of business activities used for defining…

Q: Discuss five major differences between financial accounting and managerial accounting. How do…

A: Accounting: Accounting includes Book keeping and analysis, interpretation of business transactions.

Q: Describe the cost and basic accounting activities related to payroll ?

A: Payroll accounting is just recording the payroll expenses of a business into the final ledger.

Q: The reporting standard for external financial reports isa. industry-specific.b. company-specific.c.…

A: Reporting standards: These are defined as the set of common guidelines and rules that are followed…

Q: 6) An organizational form that is based on direct lines of authority from the top executive to the…

A: Definitions : In simple words, line framework can be understood as the clearest kinds of…

Q: How does the managerial accountant determine the department sequence in the step-down method? How…

A: Service department: A service department is a division in an organization which is not involved…

Q: 2. A company is choosing an outside firm to provide its payroll services. It has chosen four…

A: we will use factor rating method to decide which provider should be chosen, we will take the weights…

Q: Describe the costs and the basic accounting activities relationg to payroll

A: Payroll:- Payrolll may be a list of workers who get paid by the corporate. Payroll also refers to…

Q: The manager in charge of the accounting department is usually known as the _______________________

A:

Q: What are the three basic financial statements contained in a company's annual report?

A: The company's annual report is one of the most important resource of reliable and audited financial…

Q: What is the full form of CIMA, the professional body controlling the profession of Cost Accounting?…

A: Introduction: CIMA: CIMA is Established in March , 1919 CIMA is the world largest Accounting body.

Q: Can you tell us what accounting will be used to evaluate each of the responsibility centers?

A: There are three responsibility centres in accounting  Revenue centre-The revenue centre have…

Q: Question 1 According to the Committee of Sponsoring Organizations (COSO), the proper segregation of…

A: Combining the task of payment preparation and circulation to the employees means that all parts of…

Q: What is CVP and four uses of it? The subject is Managerial Accounting.

A: Cost-volume-profit (CVP) analysis is used to determine how changes in costs and volume affect a…

Q: Classify which area in the organization these functions belong: Finance, Accounting, Marketing,…

A: Various department of the company does various function for example production department is related…

Q: Discuss briefly the role unions and government agencies play in the design of procedures for the HR…

A: Human resource (HR) management and Payroll process:  Human resource management is about the basic…

Q: Are any time lags in recording economic events typically experienced in payroll systems? If so, what…

A:

Q: HUMAN RESOURCES/PAYROLL CYCLE. What are the main activities and please explain how each of those…

A: human resources management (HRM)/ payroll cycle: The HRM/payroll cycle is a periodic collection of…

Q: Explain Staff Accounting Bulletins.

A: Securities Exchange Commission (SEC): This is the government agency governs the working of financial…

Q: Which of the following is not one of the general ledger and reporting activities? A. Updating the…

A: General ledger: It is the T-accounts prepared for every journal entry and get recorded in their…

Q: Distinguish between a service department and a production department. Give an example of the…

A: Distinguish between a service department and a production department. Give an example.

Q: During the internal se rand managers is to: informatic

A: Answer:

Q: salaried employees across business unit/division is characterizec

A: This is a multiple-choice question in which according to the question we have to find out the…