Hayim Accardi is the accounting manager for a small, local firm that has full- and part-time staff. How do FLSA guidelines regarding working hours apply to Hayim's employees?
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- Dave Elliott, CPA, is an assistant to the controller of Lyric Consulting Co. In his spare time, Dave also prepares tax returns and performs general accounting services for clients. Frequently, Dave performs these services after his normal working hours, using Lyric Consulting Co.’s computers and laser printers. Occasionally, Dave’s clients will call him at the office during regular working hours.Discuss whether Dave is performing in a professional manner.Dave Elliott, CPA, is an assistant to the controller of Lyric Consulting Co. In his spare time, Dave also prepares tax returns and performs general accounting services for clients. Frequently, Dave performs these services after his normal working hours, using Lyric Consulting Co.'s computers and laser printers. Occasionally, Dave's clients will call him at the office during regular working hours. 1. Discuss whether Dave is performing in a professional manner.can you help me with question to explain "An employee for Repairs to Go, Inc., works different numbers of hours each week depending on the needs of the business. To simplify the accounting, the bookkeeper for Repairs to Go classifies this employee as a salaried person. Is this practice appropriate?"
- Mary Tan is the controller for Duck Associates, a property management company in Portland, Oregon. Each year, Tan and payroll clerk Toby Stock meet with the external auditors about payroll accounting. This year, the auditors suggest that Tan consider outsourcing Duck Associates’s payroll accounting to a company specializing in payroll processing services. This would allow Tan and her staff to focus on their primary responsibility: accounting for the properties under management. At present, payroll requires 1.5 employee positions—payroll clerk Toby Stock and a bookkeeper who spends half her time entering payroll data in the system. Tan considers this suggestion, and she lists the following items relating to outsourcing payroll accounting: The current payroll software that was purchased for $4,000 three years ago would not be needed if payroll processing were outsourced. Duck Associates’s bookkeeper would spend half her time preparing the weekly payroll input form that is given to the…Mary Tan is the controller for Duck Associates, a property management company in Portland, Oregon. Each year, Tan and payroll clerk Toby Stock meet with the external auditors about payroll accounting. This year, the auditors suggest that Tan consider outsourcing Duck Associates’ payroll accounting to a company specializing in payroll processing services. This would allow Tan and her staff to focus on their primary responsibility: accounting for the properties under management. At present, payroll requires 1.5 employee positions: payroll clerk Toby Stock and a bookkeeper who spends half her time entering payroll data in the system. Tan considers this suggestion, and she lists the following items relating to outsourcing payroll accounting: a. The current payroll software that was purchased for $4,000 three years ago would not be needed if payroll processing were outsourced. b. Duck Associates’ bookkeeper would spend half her time preparing the weekly payroll input form that is…Mary Tan is the controller for Duck Associates, a property management company in Portland, Oregon. Each year, Tan and payroll clerk Toby Stock meet with the external auditors about payroll accounting. This year, the auditors suggest that Tan consider outsourcing Duck Associates' payroll accounting to a company specializing in payroll processing services. This would allow Tan and her staff to focus on their primary responsibility: accounting for the properties under management. At present, payroll requires 1.5 employee positions—payroll clerk Toby Stock and a bookkeeper who spends half her time entering payroll data in the system. Tan considers this suggestion, and she lists the following items relating to outsourcing payroll accounting: The current payroll software that was purchased for $4,000 three years ago would not be needed if payroll processing were outsourced. Duck Associates' bookkeeper would spend half her time preparing the weekly payroll input form that is given to the…
- Remy Morris is an accountant has a full time job at Transcend Haberdashery. He also works every Wednesday at McMaster Supermarket preparing the paybill for Friday. He has a contract for the service from McMaster Supermarket and the owner pays him gross. What additional information would you need to have to determine whether Remy’s contract is a contract of service or contract for service? Make assumptions (but state assumptions), decide and give reasons for the answer.Mohammed was recently interviewed for an accounting job . His employer told him that the job emphasizes objectivity and verifiability and involves preparing reports to be primarily used by external users. Mohammed is probably going to work as: a. A Financial accountant b. A Human resource manager. c. Management accountant d. None of the given answers e. A Marketing specialistWhat Would You Do? You are responsible for preparing all of the journal entries for Regional Financial Services. You have correctly prepared the following entry for financial services provided on December 15: Your boss has asked you to change the date from December 15 to January 15 so that the business’s profit, and thus taxes, would be lower. Are you allowed to do this? What is your response to your boss? How should you handle this situation?
- Comment on the performance of Bart D’Souza’s company. How is the company doing? He is working at this business part-time. Should he quit his other job and work at this full-time? Should he do the opposite – and exit the business? Or, should he stay the course and see how things unfold? What other kinds of information might you want to know to answer these questions?You are the staff accountant working at a local tutoring center. The monthly financial statements (Income Statement, Statement of Retained Earnings, and Balance Sheet) were just finalized and released to the employees of the tutoring center. You hear some of the other employees talking about the financial statements. In most cases, the employees do not understand the purpose of the statements. You have been asked by your supervisor to create a MEMO to be sent to the employees of the tutoring center that includes the following: Explain how accounting became a “norm” (what made a system of accounting necessary) and reflect on why YOU think it is beneficial for society as a whole to have a standard method of accounting.Lily Company has the following staff: Ms. Momon – Acting Accounting head (Non CPA, this is because she is working for 4 years now in the company) Ms. Des – Sales and Collection accountant Ms. Pat May is a CPA hired by Lily Company as a disbursing officer (current vacant position in the company). As an auditor, what is the best recommendation you would offer to the management? a. Assess organizational chart of the company. b. Train, mentor and supervise the employees. c. Assess if the personnel not qualified for the current position they are holding may retain (because they earned experience for the position) or they may qualified and reassigned for other position. d. Hire a competent Accounting Manager.
