What functional responsibilities are associated with the payroll cycle?

Q: Briefly explain the difference between an employee and an employer.

A: In commerce and entrepreneurship, the terms employee and employer are often used. Both terms are…

Q: In a payroll system, what types of input data are referred to as (a) constants and (b) variables?

A: a. The data that remain unchanged from payroll to payroll are referred to as constant data. The list…

Q: What role does the Cost Accounting Standards Board play when companies contract with the U.S.…

A: Cost Accounting Standards:   The cost accounting standards are the standards set by a board which is…

Q: How is a departmental contribution to overhead an effective tool in assessing each department's…

A: Departmental contribution to overhead is the amount of money a deptt. has available after its…

Q: Wage Calculation Data

A: Total Wages paid from October to December is 1956. with Average rate per hour is 12

Q: Why are the different organizations method to use Salary Surveys? Also elaborate employees financial…

A: The use of a high-quality, independent salary survey is a key component in your compensation…

Q: what accounting method will be used to evaluate each of the responsibility centers?

A: Responsibility accounting: Responsibility accounting refers to the various tool used by managerial…

Q: When is an employer-employee relationship exist?

A: Definition:

Q: What is the importance of the job ticket? Illustrate the flow of this document and its information…

A:

Q: When a company has a contract involving multiple performance obligations, how must the company…

A: Revenue must be realized when the company completes a performance obligation by transferring a…

Q: What is the impact of responsibility reporting and budgeting on an organization?

A: A manager's performance is evaluated based on matters that are directly under the control of that…

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 is the difference between a departmental accounting system and a responsibility accounting…

A: Departmental accounting system refers to that accounting information system which record the…

Q: What are the types of work performed, the overall areas of focus, and/or other relevant information…

A: Accounting is the method by which the transactions of the business can be recorded so that the…

Q: What is the primary objective of any base wage and salary system?

A: A basic salary, also known as a base salary, is the amount of money that a salaried employee…

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: Discuss five of the most important internal control activities of payroll and personnel cycle?…

A: The payroll and personnel cycle's ultimate goal is to determine if the account balances impacted by…

Q: Why are the different organizations method to use Salary Surveys? Also elaborate employees financial…

A: Many companies analyse the financial information which may affect the company’s cost structure.…

Q: Identify and explain the process of selecting employees?

A: The selection process may be described as the procedure of identifying and shortlisting qualified…

Q: Included under the definition of employees for FUTA purposes are:

A: FUTA stands for Federal Unemployment Tax Act. This Act has been enacted to provide compensation to…

Q: What is the difference between pay grade and pay range?

A: Pay grade refers to an approach that helps categorize different types of jobs into various groups…

Q: What are the payroll system's general tasks?

A: Payroll is the amount paid by business to the employees in the form of compensation for the given…

Q: Name the units of service on which cost-based payers may pay providers

A: Payers- is a company that  pays for or reimburses for medical services availed. For example, the…

Q: Define earnings quality.

A: Earnings quality refers to the ability of total income by predicting future earnings of the company.

Q: ( separation of duties) explain how can they implemented and how they make accountant job more…

A: separation or segregation of duties - Separation of duties is an internal control implemented in the…

Q: What does Compensation for employee services includes?

A: Introduction Compensation is the cash paid to employees for their service that they provided for the…

Q: Distinguish between direct and indirect expenses and identify bases for allocating indirect expenses…

A:

Q: Define net pay.

A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…

Q: what is example of payroll report for project?

A: A payroll report is a document prepared and processed at every month end which clearly shows the…

Q: xample of Payroll re

A: A payroll withholding statement is notification from an employer to an employee or tax office…

Q: Define Accounts payable and what are its representative cost driver?

A: Accounts payable: Accounts payable is the obligation of the company to make payment (within period…

Q: One of the major areas that enterprise systema provide support for to pay process.

A: The purchase-to-pay process refers to the compiled concept of a company's purchasing process starts…

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: What is the uses and fucntions of Executive Performance Measures and Compensation?

A: Answer: Executive performance measures and compensation both are related terms to each other in any…

Q: Define salaries expense.

A: Salaries expense is the fixed pay earned by employees. The expense represents the cost of non-hourly…

Q: Define payroll.

A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…

Q: What are the two phases of responsibility accounting?

A: Responsibility Accounting: The management of responsibility centers by the means of pre-determined…

Q: What is a characteristic of pay for performance?

A: Pay for performance is a management technique which aims at improving the performance of the…

Q: How do accounting books handle over and under absorption of overheads?

A: Under absorption takes place when the amount is absorbed lower than the actual whereas,…

Q: What is your understanding about labor relation?

A: Labor relations seems to be the term used to describe the process through which employers and…

Q: How does the use of direct and indirect materials in production affect the accounts?

A: Step 1: Direct materials are the raw materials that are used directly in the process of production.…