Bookkeeping Information Systems ninth Edition .


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Accounting Information Systems 9 th Edition. Marshall B. Romney Paul John Steinbart. The Human Resources Management and Payroll Cycle. Chapter 14. Learning Objectives.
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Bookkeeping Information Systems 9 th Edition Marshall B. Romney Paul John Steinbart ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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The Human Resources Management and Payroll Cycle Chapter 14 ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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Learning Objectives Describe the significant business exercises and related information preparing operations performed in the HR administration (HRM)/finance cycle. Recognize the significant dangers in the HRM/finance cycle, and assess the ampleness of different interior control methodology for managing them. ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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Learning Objectives Explain the key choices that should be made in the HRM/finance cycle, and distinguish the data required to settle on those choices. Perused and comprehend an information display (REA outline) of the HRM/finance cycle. Make an information show (REA outline) of the HRM/finance cycle. ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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Introduction Peter Wu is the new VP for HR at Alpha Omega Electronics (AOE). Subside was advised to right two shortcomings in AOE\'s HR administration (HRM)/finance framework: Lack of satisfactory administration Inability to track representatives\' ability advancement AOE has isolate HRM and finance frameworks. ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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Introduction Peter chose to start by looking at how to enhance the finance preparing framework. Elizabeth Venko, the controller, and Ann Brandt, VP of data frameworks, showed that it was conceivable to update both exercises so that the finance and HRM frameworks were incorporated ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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Introduction The HRM/finance cycle is a repeating set of business exercises and related information handling operations related with successfully dealing with the representative work drive. This part concentrates principally on the finance framework. ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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Introduction Some of the more critical exercises incorporate the accompanying errands: Recruitment and procuring Training Job task Compensation (finance) Performance assessment Discharge of workers, because of intentional or automatic end ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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Introduction The three fundamental capacities the AIS gives in the HRM/finance cycle are: Processing value-based information about representative exercises Safeguarding the association\'s benefits Providing data for basic leadership ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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Learning Objective 1 Describe the real business exercises and related information handling operations performed in the HR administration (HRM)/finance cycle. ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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Payroll Cycle Activities What are the fundamental exercises performed in the finance cycle? Upgrade ace finance document Update impose rates and reasonings Validate time and participation information Prepare finance Disburse finance Calculate manager paid advantages and duties Disburse finance charges and different findings ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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Update Master Payroll File (Activity 1) The main action in the HRM/finance cycle includes redesigning the finance ace record to reflect finance changes, for example, new contracts, terminations, changes in pay rates, or changes in optional withholdings. It is imperative that all finance changes are entered in a convenient way and are legitimately reflected in the following payroll interval. ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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Update Tax Rates and Deductions (Activity 2) The second action in the HRM/finance cycle includes overhauling data about duty rates and different withholdings. These progressions happen at whatever point upgrades about changes in duty rates and other finance conclusions are gotten from different government units and insurance agencies. ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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Validate Time and Attendance Data (Activity 3) The third movement in the finance cycle is to approve every worker\'s opportunity and participation information. This data comes in different structures, contingent upon a representative\'s status. ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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Validate Time and Attendance Data (Activity 3) What are some compensation plans? time cards for those paid on a hourly premise self report for experts straight commission or compensation in addition to commission motivators and rewards ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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Validate Time and Attendance Data (Activity 3) Procedures: The finance office is in charge of approving representative time records. For assembly line laborers, approval includes contrasting the aggregate time worked and the time spent on each employment. ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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Validate Time and Attendance Data (Activity 3) The finance representative figures group aggregates and enters them alongside the time information. The group aggregates are recalculated by the PC after resulting handling steps. Finance exchange information are entered through online terminals. Alter checks are performed on each time and participation record. ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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Validate Time and Attendance Data (Activity 3): Opportunities for Using Information Technology What are a few chances of utilizing data innovation to v alidate time and participation information (Activity 3)? gathering worker time and participation information electronically, rather than on paper reports utilizing identification perusers utilizing electronic time timekeepers ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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Prepare Payroll (Activity 4) The fourth action in the finance cycle includes get ready finance. Information about the hours worked are given by the office in which the representative works. Pay rate data is gotten from the finance ace document. The individual in charge of get ready paychecks can\'t add new records to this document. ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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Prepare Payroll (Activity 4) Procedures: Payroll handling is performed in the PC operations office. The finance exchange record is sorted by representative number. The sorted time information record is utilized to get ready worker paychecks. ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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Prepare Payroll (Activity 4) All finance derivations are summed and the aggregate is subtracted from gross pay to acquire net pay. What are sorts of finance derivations? withholdings deliberate findings Finally, the finance enroll and representative paychecks are printed. ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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Prepare Payroll (Activity 4): Opportunities for Using Information Technology What are a few chances of utilizing data innovation to get ready finance (Activity 4)? create and disperse finance reports electronically instead of on paper online terminals corporate intranets ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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Disburse Payroll (Activity 5) The fifth action is real dispensing of paychecks to workers. Most workers are paid either with check or by direct store of the net pay sum into the representative\'s financial balance. ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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Disburse Payroll (Activity 5) Procedures: Once paychecks have been readied, the finance enlist is sent to the records payable division for survey and endorsement. A dispensing voucher is then arranged. The payment voucher and finance enroll are then sent to the clerk. ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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Disburse Payroll (Activity 5): Opportunities for Using Information Technology What are a few chances of utilizing data innovation to dispense finance (Activity 5)? coordinate store outsourcing to a finance benefit authority ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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Calculate Employer-Paid Benefits and Taxes (Activity 6) Some finance expenses and worker advantages are paid specifically by the business. Government and state laws oblige businesses to contribute a predefined rate of every representative\'s gross pay to elected and state unemployment pay protection reserves. Businesses frequently add to wellbeing, incapacity, and protection premiums. ©2003 Prentice Hall Business Publishing, Accounting Information Systems , 9/e, Romney/Steinbart

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Calculate Employer-Paid Benefits and Taxes (Activity 6) Many organizations additionally offer their workers adaptable advantage arranges. Numerous representatives are offered and contribute toward a decision of retirement investment funds arranges. ©2003 Prentice Hall Business Publ

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