Own payroll but rapid expansion is making demands

Assignment Help Financial Accounting
Reference no: EM13749771

The owner of a small family-owned business prepares his own payroll but rapid expansion is making demands for his time in other areas. He hires you to design payroll procedures with the proper internal controls that a small payroll department can handle.

Design (using words) how payroll data should flow within the company and in your design, make sure you address the control objectives.

Reference no: EM13749771

Questions Cloud

Advertising expenditures are increased and sales increase : The sales manager believes sales could be increased by 625 units of advertising expenditure were increased by 14000$. If advertising expenditures are increased and sales increas by 625 units, the effect on operating income will be a :
Describe how information systems are used : Choose a company that you are familiar with, and like the best or use very often. Describe how Information Systems are used in this company
What are the total manufacturing costs : Cost of goods manufactured for 20X8 amounts to $260,000. What are the total manufacturing costs incurred in 20X8?
What is the contribution margin ratio : Rasmussen company sells only one product at a regular price of 30$ per unit. Variable expenses are 75% of sales and fixed expenses are 44000$. Management has decided to decrease the selling price to 25.50$ in hopes of increasing its volume of sales. ..
Own payroll but rapid expansion is making demands : The owner of a small family-owned business prepares his own payroll but rapid expansion is making demands for his time in other areas. He hires you to design payroll procedures with the proper internal controls that a small payroll department can han..
The balance in the office supplies account : The balance in the office supplies account on June 1 was $5200, supplies purchased during dune were $2500, and the supplies on hand at June 30 were $2000. The amount to be used for the appropriate adjusting entry is A. $4500 B. $2500 C. $9700 D.$5700
Difference in file-oriented transaction processing system : What is the difference between file-oriented transaction processing systems and relational database systems? Discuss the advantages and disadvantages of these systems.
Describe each of the three business functions : There are three important business functions that are performed by the six components of AIS. Describe each of the three business functions and the six components of AIS
Controls as preventive and detective or corrective : Classify the following controls as preventive, detective, or corrective:

Reviews

Write a Review

Financial Accounting Questions & Answers

  Illustrate what is yonan new required return

Now suppose there is a shift in investor risk aversion, and the market risk premium increases by 2%. The risk-free rate and Yonan's beta remain unchanged. Illustrate what is Yonan's new required return?

  Project the answers need to show work on a excel work sheet

the answers need to show work on a excel work sheet. the summary can be shorter than 250 words as long as good points

  Why faital company acquire computer from plato corporation

On December 31, 2014, Faital Company acquired a computer from Plato Corporation by issuing a $640,800 zero-interest-bearing note, payable in full on December 31, 2018. Faital Company's credit rating permits it to borrow funds from its several line..

  Write a report for alcenons management

Write a report for Alcenons management to explain what conditions must be present for Alcenon to be able to account for this lease as an operating lease.

  Why would the senior managers at quantum products have

the senior managers did not support making the investment. Why would the senior managers at Quantum Products have an incentive to overinvest?

  Compute the amount of estate tax due if gabriel made

Compute the amount of estate tax due (if any) if Gabriel made prior taxable gifts in 2005 totaling $1 million at which time he claimed a unified credit of $345,800 and paid no tax.

  Reason for the joint project undertaken by the fasb and iasb

What are the roles and objective of FASB and IASB and what are the main reason for the joint project undertaken by the FASB and IASB?

  Define the concept of alternate valuation date

Define the concept of Alternate Valuation Date. Explain to the executor of an estate an advantage, as well as disadvantage of electing the alternate valuation date of assets.

  What is the residual income for the year

Management has set a minimum required rate of return on average operating assets of 25%. What is the residual income for the year?

  What are the major funds of your state or local government

What are the major funds of your state or local government

  How does each of the transactions change the companys

How does each of the transactions change the companys financial condition - The business distributes $100,000 of the profit it earned during the year to its shareowners.

  Common revenue and inventory related fraud schemes

What are some of the more common revenue and inventory related fraud schemes and what are some of the more effective methods for searching for this type of fraud?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd