Discuss three important differences between the payroll and personnel cycle and other cycles in a typical audit.

-

Discuss three important differences between the payroll and personnel cycle and other cycles in a typical audit.


Answer:

Three important differences between the payroll and personnel cycle and other cycles in a typical audit are:
• There is only one class of transactions for payroll, whereas most cycles include at least two classes of transactions.
• In the payroll cycle, transactions are far more significant than related balance sheet accounts.
• Internal controls over payroll are effective for almost all companies, even small ones. This is primarily due to severe federal and state penalties for errors in withholding and paying payroll taxes and employee morale problems if employees are not paid or are underpaid.

Comments

Post a Comment

Popular posts from this blog

Examine the collapse of Han. What factors explain how this occurred? How influential in Han Dynasty on Chinese History?

-
Examine the collapse of Han. What factors explain how this occurred? How influential in Han Dynasty on Chinese History? Answer: Hsiung Nu (aka Xiongnu) was a threat to the north, Wu had to build the Great Wall to protect empire. Han empire had to give a lot of supplies to Hsiung Nu in order to keep land unharmed. The government allied with wealthy land owners. Peasants had increasing economic pressure, which fueled the Yellow Turban rebellion. Generals stopped recognizing emperor as they became more powerful. Dynasty divided into three kingdoms (Wei, Wu, and Shu). After the Han dynasty, Confucianism became irrelevant, but Daoism and Buddhism were still popular. Han empire invented earthquake devise and anesthesia.
Read more

JAD Advantages and Disadvantages

-
JAD Advantages and Disadvantages : Compared with traditional methods, JAD is more expensive and can be cumbersome if the group is too large relative to the size of the project. Many companies find, however, that JAD allows key users to participate effectively in the requirements modeling process. Read:  What is JAD and how are users involved? What are advantages and disadvantages of JAD? When users participate in the systems development process, they are more likely to feel a sense of ownership in the results, and support for the new system. When properly used, JAD can result in a more accurate statement of system requirements, a better understanding of common goals, and a stronger commitment to the success of the new system. More:  RAPID APPLICATION DEVELOPMENT
Read more

Summarize effective communication strategies in organizational hierarchies, and review the role and relevance of the organizational grapevine

-
Summarize effective communication strategies in organizational hierarchies, and review the role and relevance of the organizational grapevine Some companies try to encourage communication through workspace design, as well as through Web-based communication channels. some executives also meet directly with employees, such as through management by walking around (MBWA) and town hall meetings, to facilitate communication across the organization. In any organization, employees rely on the grapevine, particularly during times of uncertainty. The grapevine is an unstructured and informal network founded on social relationships rather than organizational charts or job descriptions. Although early research identified several unique features of the grapevine, some of these features may be changing as the Internet plays an increasing role in grapevine communication.
Read more