+1-415-670-9189
info@expertsmind.com
Professional service organizations
Course:- Accounting Basics
Reference No.:- EM13872130




Assignment Help
Expertsmind Rated 4.9 / 5 based on 47215 reviews.
Review Site
Assignment Help >> Accounting Basics

Question: "Professional Service Organizations" Please respond to the following:

You have been asked by the CFO of the company where you work or previously worked to evaluate the use of a professional service organization for processing the company's payroll. Identify the top-three issues that should be discussed when considering contracting the services of a payroll service provider. Evaluate the impact, both positive and negative, of each issue on the process in question. Provide specific examples to support your response.

Using the information from the e-Activity, identify the key elements of a plan to outsource your firm's payroll function. For each element of the plan, describe the impact of each element. Be sure that the elements address the necessary controls needed to safeguard your firm's personnel data. Provide specific examples to support your rationale.

Answered:-

Verified Expert


Preview Container content

Deciding to outsource any part of work is a serious issue in this growing world because in the present world growth is directly proportional to the quality of service provided by an organization. Expenses are the most important driving factor for any type of business irrespective of nature, size and volume of the business. There are many factors which influence the payroll cost. Some of them are as follows:

1) What is the timing difference between the employee receiving the payment and date of order of the payment?
2) Number of employees in the payroll list
3) Whether employee has an option of receiving direct deposit?
4) Whether proper appraisal system is maintained?




Put your comment
 
Minimize


Ask Question & Get Answers from Experts
Browse some more (Accounting Basics) Materials
Do changes in turnover ratios affect profitability? Explain - identify any steps Tym might have taken, or might wish to take, to improve management of receivables and invento
Prepare a classified balance sheet with a proper heading on a spreadsheet. For assets, use the classifications of current assets, plant and equipment, intangibles, and other
Justin Allen, a product engineer for L’Oso Gaming, is designing a new electronic game. Market research indicates that gamers will pay $36 for the game. (a)  If L’Oso desires a
On January 1, 2010, Gant Corporation had $1,500,000 of common stock outstanding that was issued at par and retained earnings of $750,000. The company issued 30,000 shares of
Equivalent units for materials total 20,000. There were 16,000 units completed and transferred out. Equivalent units for conversion costs equals 18,000. How much are the phy
S&J Plumbing, Inc.'s 2010 income statement shows a net profit before tax of $468, whereas the balance sheet that the company's equity for the fiscal year-end 2010 is $1,746.
Compute the activity-based overhead rates using the following budgeted data for each of the activity cost pools. Activity-based overhead rates Designing $ per designer hour Si
Which of the following steps in the accounting cycle requires the most thought and judgment by the accountant: (a) preparing a trial balance, (b) posting adjusting, and clos