Review the changes that made for accuracy. If there are any discrepancies occur, make sure to solve it immediately before proceeding to processing. 4. Payroll Processing. Compute the hours that need to be paid from the timesheets into the system.
Section 404 is the part of the act that we will deal with in this paper due to it dealing with internal controls and the reporting of those internal controls on an annual basis. 2.0 Internal Control Strengths LJB Company does follow some good procedures for internal controls as of today. They are using pre numbered invoices which helps to comply with the documentation procedures of internal controls. Also the accountant does lock up the checks in the safe at the end of the day, so that they are not left out over the weekend and unsecure. This helps them to comply with the physical controls aspect of internal controls.
A pro forma cash receipt is a document narrating incoming payments from debtors or receivables and is issued by the business or creditor (Cash Receipts Function, 2011). Function of Cash Receipts Cash receipts give a quick snapshot of particular debtors and respective repayments, thus, helping the business to recognize the source of cash inflows with respect to receivables within the accounted date range (LexisNexis, 2013). I 2. Company’s Cheque to Supplier Next you are to prepare a company cheque to pay a supplier called Shakers Ltd the amount of an invoice that has a gross total of £3,250.00. You are paying the invoice within the credit terms and are entitled to a cash discount of 2%.
Spatelli Pizzeria Case: Payroll Section Corporate Governance: With us gaining possession of the Spatelli Pizzeria we mean to implement a different ambiance of the work place. Instead of just paying our bills every month we are going to look into and provide ethical and disciplined reasoning in every business decision in order to ensure the best interest of the company. We move to cultivate and establish the integrity of the business environment through honest accountability and fairness to all employees and vendors. Just as we expect each other to follow a Code of Conduct to ensure the compliance of company guidelines and procedures, we expect that of all our employees as well-so that together we can achieve a superior company. If we can show our employees what we want them to do by doing it ourselves, they will be able to open up to those ideas and more.
Only some of them are working and they are opened and closed during different times of the day depending on the number of customers waiting in line to check out their items. They have a conveyor, on which the customer places the items he/she is purchasing. The conveyor constantly moves forward toward the checker, who then scans the items, puts the items in bags, and proceeds to tell the customer the total amount due for the purchase. Customers can pay in either cash, check, debit/credit card, or gift card. The checkout time on these lanes varies from 2 to 3.5 minutes depending on how many items are being checked out.
Introduction to Public Practice Audit Case [BC2] Purpose Public Practice Audit Case [BC2] is the second business case in the CGA program of professional studies. The purpose of BC2 is to provide you with hands-on experience in preparing audit working papers. Audit working papers are required to support the audit opinion reached by the auditor. This audit case provides a simulated situation in which you take on the role of an auditor to complete a year-end audit file for review by a partner. Once the audit case is complete you will submit the case to a reviewer who will then return it to you with queries for you to update and finalize the audit.
The Working Time Regulations and the Minimum Wage Act 1998 both require records relating to hours worked and pay. Internally it is important to keep up to date accurate records to help the organisation plan ahead. Personnel records are important so we can effectively recruit, train and develop our staff to aid us in achieving the organisations goals. Having accurate data will allow managers to base decisions on facts rather than guesswork. (ACAS, 2011) Records We Keep Our organisation collects Sickness and Absence data so we can: * Monitor employee’s absences to identify patterns or trends.
This also includes educating staff about the responsibilities of maintaining costs. What are the reports that can be used for financial planning in an organisation? Profit and Loss Balance sheet Revenue and Expenditure report Cash flow statement Debtors and Creditors reports What is the process for preparing budgets or other financial plans? 1. Identify data that needs to be collected.
Having good money management skills will help me and give me ideas on how to only purchase what I actually need and not what I want. Written down all my expenses and categorizing all the different expenses I have. I can start by tracking my spending for about a month then I will have a good idea on how to create my personal budget. I can use a spreadsheet to categories my expenses. I need to always keep in mind that I need to save for emergencies such as car repairs, and house repairs etc.
personal digital assistant) journal related to your job role. At the end of each day, make entries to answer the following questions: A. What were the most important activities that needed to be achieved today? * tag the order number on the dry clean items * check every order if match with the order ticket * write the price of each dry clean item on the order ticket * record every order including item description, numbers of items, and price * place the cleaned items to the order * bag the finished orders * customer services: pick up dry clean items and drop off * cash collect * record the order which has been pick up * answer incoming phones B. How do these relate to my job description, responsibilities and accountabilities?