...CHAPTER 1 INTRODUCTION Background of the Study HISTORY OF PAYROLL SYSTEM A computerized payroll system, the employer invests in a computerized payroll software. Using a software such as quickbooks allows the employer to enter the wages into the system after employer has manually calculated them. The payroll and check printing are processed through the system. The employer has access to payroll reports that can print and use to double-check against what the employer entered before printing the checks. This allows the employer to correct any detectable errors beforehand. Computerized payroll system allows the employee to process all normal payroll task via a computerized system, rather than by hand. Essentials like name, address, Social Security number and withholding rate for each employee are automatically filled in for every pay period until the employer make an employee’s record inactive. Mari’s Boutique&Goods was found by Mrs. Maribeth Boorman and was established on April 18, 2012. It is located at Artacho Street, Lingayen, Pangasinan. There are three working employees. Many different vendors offer computerized payroll system. Like different word processors or other computer programs, they largely offer the same types of features with slightly different interfaces. Payroll is essentially how employees are paid. It’s the legal paperwork involved. There's more to payroll than just handing out cash or checks. However, after gathering data on...
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...International Journal of Applied Information Systems (IJAIS) – ISSN : 2249-0868 Foundation of Computer Science FCS, New York, USA Volume 5– No.3, February 2013 – www.ijais.org Fingerprint Biometric Authentication for Enhancing Staff Attendance System Oloyede Muhtahir O. Dept. of Info. and Comm. Science University of Ilorin, Ilorin. Adedoyin Adeyinka O. Dept. of Info. and Comm. Science University of Ilorin, Ilorin. ABSTRACT Biometric technology that involves the identification and verification of individuals by analyzing the human body characteristics has been widely used in various aspect of life for different purposes, most importantly as regards this study the issue of staff attendance. Despite the numerous advantages of the biometric system and its impact to various work sectors across the globe, most biometric technology users face the issue of defining the right and accurate biometric technology system that will be cost effective in solving particular problems in specific environment. In this paper, a study was conducted using a telecommunication company in the South West region of Nigeria, in order to determine the specific biometric identifier that can be used to enhance their traditional staff attendance system which presently affects the productivity of the organization. The study was conducted using a quantitative approach by designing a questionnaire as the data collection instrument based on different biometric technologies. The survey...
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...CHAPTER 2 Overview of Business Processes SUGGESTED ANSWERS TO DISCUSSION QUESTIONS 1. Three different types of information exist in Table 2.1: 1. Internally-generated financial data 2. Internally-generated operating data 3. Externally-generated data. Internally generated financial data would be captured directly on source documents that are processed by the AIS and would be reported in traditional financial statements. Internally generated operating data can be captured in two ways. Some of this data (e.g., time worked) would be captured on source documents. Other data (e.g., employee skills) would traditionally be captured and stored by an information system that is not part of the AIS itself. The AIS, however, should be redesigned so as to integrate this data with the other transaction-oriented data. Some of the data (e.g., information on market share and customer satisfaction) must come from external sources. The AIS should be designed to store this data in an integrated manner with internally generated data. 2.2 The fact that all documents are prenumbered provides a means for accounting for their use and for detecting unrecorded transactions. Thus, a missing check indicates a meal for which a customer did not pay. Since each server has his or her own set of checks, it is also easy to identify which server was responsible for that customer. This policy may help to deter theft (e.g., serving friends and not requiring...
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...Test 3 Chapter 11 1. Fundamental Concepts and Characteristics of Fraud a. Evaluation of the auditor’s fraud detection responsibilities b. Treadway Committee Report findings c. Who commits fraud and why? 2. The Auditor’s Responsibility for Detecting and Reporting upon Fraud (AU 316) a. Misstatements arising from fraudulent financial reporting – Fraud for the Entity b. Misstatements arising from misappropriation of assets – Fraud against the Entity c. The overall process: i. Identify client fraud risk areas ii. Consider client anti-fraud programs and controls iii. Respond to results of the fraud risk assessment d. Responding to misstatements identified in the audit i. Effects, if due to fraud, likely immaterial ii. Effects, if due to fraud, could be material e. Detection and reporting responsibilities within the client organization – how do we respond to fraud internally f. Responsibilities for reporting fraud to outsiders – is the same criteria for reporting fraud externally as we had to do with illegal acts. g. Audit documentation responsibilities h. Typical fraud warning signs and red flags (AU 316.85) – they are arranged by 3 elements that typically exist in some kind of combination of fraud. AU 316.85 “Examples of Fraud Risk Factors. Separately presented are examples relating to the two types of...
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...standards Reviewing notes for understandability Reviewing of post year-end items Cut-off testing Analytical review Confirmations Reconciliations to control accounts Recalculation of correct amounts Third party confirmation Reviewing invoices for proof that item belongs to the company Matching amounts to invoices Confirming accounting policy consistent and reasonable Reviewing post year-end payments and invoices Expert valuation Physical verification Inspection of supporting documentation Confirmation from directors that transactions relate to business Inspection of items purchased What model can be used for designing an audit plan? Agree opening balances with previous year’s working papers Review general ledger for unusual records Agree client schedule to/from accounting records to ensure completeness Carry out...
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...Topic Eight: Direct Deposit and Payroll Cards Course Manual for Payroll Practice and Management Online Series 2010 All rights reserved Author: Vicki M. Lambert, CPP Vicki M. Lambert, LLC Introduction Direct deposit is an application of the system known as Electronic Funds Transfer (EFT). This is a system by which commercial payments are made electronically instead of using paper instruments such as checks or drafts. Direct deposit of an employee's wages is extremely popular among employers and employees alike. Employer save money by eliminating the cost of printing checks and replacing lost checks, and the employee also saves time and money by not having to stand in line to make a bank deposit. In addition, many banks give free checking if the paycheck is direct deposited. More and more employers are establishing direct deposit programs under which the net check is deposited directly into an employee's personal checking or savings ac- count. Some employer programs involve direct deposit only to employee accounts at the financial institution where the employer maintains its payroll account. This is known as an "Intra Bank" option. However, an increasing number of direct deposit programs make use of a nationwide network of automated clearing houses (ACHs) that enables the employer to make payroll deposits into accounts maintained by employees at almost any financial institution in the country. Advantages of Direct Deposit Benefits for the employer include: Cost Savings:...
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...companies? A) All companies. B) Privately held companies. C) Public companies. D) All public companies and privately held companies with assets greater than $500 million. Answer Terms: Sarbanes-Oxley Act Diff: Easy Objective: LO 1-1 AACSB: Reflective thinking skills Topic: SOX 2) Which of the following is considered audit evidence? A) Oral statements Written Auditor made by management Communications Observation Y N N B) Oral statements made by management N C) Oral statements made by management Y Written Communications Y Auditor Observation Y Written Communications Y Auditor Observation Y D) Oral statements made by management N Answer Terms: Audit evidence Diff: Moderate Objective: LO 1-1 AACSB: Reflective thinking skills Written Communications N Auditor Observation Y 3) Evidence is paramount to audit and attestation engagements. List the four basic types of audit evidence. 4) The criteria by which an auditor evaluates the information under audit may vary with the information being audited. A) True B) False Terms: Criteria which an auditor evaluates information Diff: Easy Objective: LO 1-1 AACSB: Reflective thinking skills 5) The criteria used by an external auditor to evaluate published financial statements are known as generally accepted auditing standards. A) True B) False Answer Terms: Criteria used by external auditor to evaluate...
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... Form to collect time spent on production jobs * Form requesting raw materials for production process * Documents showing how much raw materials are on hand * Documents showing how much raw materials went into production * List of production processes * List of items needed to produce each product * Documents to control movement of goods from one location to another 2.2 With respect to the data processing cycle, explain the phrase “garbage in, garbage out.” How can you prevent this from happening? When garbage, defined as errors, is allowed into a system that error is processed and the resultant erroneous (garbage) data stored. The stored data at some point will become output. Thus, the phrase garbage in, garbage out. Data errors are even more problematic in ERP systems because the error can affect many more applications than an error in a non-integrated database. Companies go to great lengths to make sure that errors are not entered into a...
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...site: www.amacombooks.org This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. Library of Congress Cataloging-in-Publication Data Haber, Jeffry R., 1960– Accounting demystified / Jeffry R. Haber. p. cm. ISBN 0-8144-0790-0 1. Accounting. I. Title. HF5635.H112 2004 657—dc22 2003017265 2004 Jeffry R. Haber All rights reserved. Printed in the United States of America. This publication may not be reproduced, stored in a retrieval system, or transmitted in whole or in part, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of AMACOM, a division of American Management Association, 1601 Broadway, New York, NY 10019. Printing number 10 9 8 7 6 5 4 3 2 1 Contents Acknowledgments . . . . . . . . . . . . . . . . . . . . . . . . . . Chapter 1 Chapter 2 Introduction . . . . . . . . . . . . . . . . . . Financial Statements . . . . Income Statement . . . . . . . . Statement of Retained Earnings Balance...
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...Running Head: Riordan Manufacturing SR-rm-004 Riordan Manufacturing Human Resources Information System By: Adrian O. University of Phoenix February 22, 2010 Abstract To identify, analyze and propose Riordan Manufacturing Human Resources (HR) Systems. In order for Riordan Manufacturing to be competitive in today’s market, it is necessary for the system to be updated. Utilizing a system development life-cycle (SDLC) methodology to analyze and create a project plan to update Riordan’s HR system. Following SDLCs structure and its categorizations, the five phases will be covered in this paper and they are the following: project planning, analysis, design, implementation, and support (Burd, et al, 2004). In addition, this paper will also tackle the different types of information gathering that is best for the success of the project. According to Burd, S.D, et al (Systems Analysis and Design in a Changing World, 2004), there are several methods of information gathering and most widely used, and they are the following: Review existing reports, forms, and procedure descriptions; Conduct interviews and discussions with users; Observe and document business processes; Build prototypes; Distribute and collect questionnaires; Conduct joint application development (JAD) sessions; Research vendor solutions. Company Background Founded by a professor of Chemistry in the year 1991, Dr. Riordan’s company initially a research and development and licensing of its existing patents, obtained...
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...AUDITING THEORY TESTBANKS / REVIEWERS 1. When an auditor believes that an understanding with the client has not been established, he or she should ordinarily a. Perform the audit with increase professional skepticism. b. Decline to accept or perform the audit. c. Assess control risk at the maximum level and perform a primarily substantive audit. d. Modify the scope of the audit to reflect an increased risk of material misstatement due to fraud. 2. An auditor should design the written audit program so that a. All material transactions will be selected for substantive testing. b. Substantive tests prior to the balance sheet date will be minimized. c. The audit procedures selected will achieve specific audit objectives. d. Each account balance will be tested under either tests of controls or tests of transactions. 3. Which of the following fraudulent activities most likely could be perpetrated due to the lack of effective internal controls in the revenue cycle? a. Fictitious transactions may be recorded that cause an understatement of revenues and overstatement of receivables. b. Claim received from customers for goods returned may be intentionally recorded in other customer’s accounts. c. Authorization of credit memos by personnel who receive cash may permit the misappropriation of cash. d. The failure to prepare shipping documents may cause an overstatement of inventory balances. 4. Accepting an engagement to examine an entity’s financial...
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...AUDITING THEORY TESTBANKS / REVIEWERS 1. When an auditor believes that an understanding with the client has not been established, he or she should ordinarily a. Perform the audit with increase professional skepticism. b. Decline to accept or perform the audit. c. Assess control risk at the maximum level and perform a primarily substantive audit. d. Modify the scope of the audit to reflect an increased risk of material misstatement due to fraud. 2. An auditor should design the written audit program so that a. All material transactions will be selected for substantive testing. b. Substantive tests prior to the balance sheet date will be minimized. c. The audit procedures selected will achieve specific audit objectives. d. Each account balance will be tested under either tests of controls or tests of transactions. 3. Which of the following fraudulent activities most likely could be perpetrated due to the lack of effective internal controls in the revenue cycle? a. Fictitious transactions may be recorded that cause an understatement of revenues and overstatement of receivables. b. Claim received from customers for goods returned may be intentionally recorded in other customer’s accounts. c. Authorization of credit memos by personnel who receive cash may permit the misappropriation of cash. d. The failure to prepare shipping documents may cause an overstatement of inventory balances. 4. Accepting an engagement to examine...
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...dining restaurant. In these organizations he held positions in both the operational and financial areas as a restaurant manager, controller and chief financial officer. As an author, Jim is a contributor to Restaurant Startup & Growth, Restaurant Hospitality, Nations Restaurant News, Foodservice.com, Pizza Today,” the Society for Foodservice Management's "SFM Source,” and American Express’ Briefing newsletter. Jim is also the creator and publisher of RestaurantOwner.com, an extensive web site specifically for independent restaurant operators. It features business management resources in the form of streaming, Flash-animated, multimedia training programs as well as articles, business tools, downloadable forms, report templates, checklists, sample restaurant business plans and a wide variety of restaurant operating procedures. It is one of the most popular restaurant sites on the World Wide Web. During the past 10 years, Jim has conducted over 500 presentations to thousands of restaurant professionals in the U.S., Canada and Europe. His clients include Red Lobster, Papa John’s Pizza, KFC, Marriott, Hard Rock Café, Cornell University, Aramark, the National Restaurant Association and many state restaurant...
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... | | |Accounting Information Systems | Copyright © 2009, 2007 by University of Phoenix. All rights reserved. Course Description In this course, students examine the fundamentals of accounting systems design. Topics include business information systems, business processes and data flows, database concepts and tools, internal control and risks, auditing the information system, and using the information system to perform audit functions. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Bagranoff, N. A., Simkin, M. G., & Strand Norman, C. (2008). Core concepts of accounting information systems (10th ed.). New York, NY: Wiley. Hunton, J. E., Bryant, S. M., & Bagranoff, N. A. (2004). Core concepts of information...
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...MULTISTATE CORPORATE TAX COURSE John C. Healy | Michael S. Schadewald 2014 EDITION CPE CoursE! BONUS Earn CPE Credit and stay on top of key Multistate Corporate Tax issues. Go to CCHGroup.com/PrintCPE 2014 EDITION MULTISTATE CORPORATE TAX COURSE John C. Healy | Michael S. Schadewald ii Contributors Authors ........................................................... John C. Healy, MST, CPA Michael S. Schadewald, PhD, CPA Technical Review ....................................................... Sharon Brooks, CPA Production Coordinator ................................................... Gabriel Santana Production ......................................................................... Lynn J. Brown Layout & Design..................................................................Laila Gaidulis This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. © 2013 CCH Incorporated. All Rights Reserved. 4025 W. Peterson Ave. Chicago, IL 60646-6085 800 344 3734 CCHGroup.com No claim is made to original government works; however, within this Product or Publication, the following are subject to CCH’s copyright: (1) the gathering, compilation...
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