Executive Pay Strategic Issues and Problems: As a result of the current economic crises, many companies are experiencing massive financial losses. These companies are reducing salaries and cutting peoples’ jobs while executives are maintaining high compensations. Using tax payer’s money, the US Government is assisting these financially struggling companies through the Troubled Asset Relief Program (TARP). TARP was created to assist these companies to ultimately allow them to survive and prevent
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SOCIAL SCIENCES BAKRIE UNIVERSITY JAKARTA 2013 Basic Factors in Determining Pay Rates Employee compensation refers to all forms of pay going to employees and arising their employment. It has two main components, direct financial payments (wages, salaries, incentives, commissions, and bonuses) and indirect financial payments (financial benefits like employer-paid insurance and vacations). Two basic ways to make direct financial payments to employees: 1. Time-based pay 2. Performance-based
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in the financial analysis. Provide a brief assessment of the offshoring option. Temecula Costs Lease Electricity Annual Usage Hourly raye rate+surcharge Electricity Costs Labor Costs Hourly Wage Hours Days Hourly Labor Salaried Workers Average Salary Salary Expense Total Current Labor Direct Manufacturing Costs Overhead Direct Investment Discount Total Cost 2008 $3,000,000 2009 $3,000,000 2010 $3,000,000 2011 $3,000,000 2012 $3,000,000 2013 $3,000,000 2014 $3,000,000 2015 $3,000,000 2016 $3,000,000
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monthly) for the right to operate the concession stand. 12 Paid advertising expenses $450. 20 Received $5,000 cash from customers for admissions. 20 Received the Lord of the Rings movies and paid the rental fee of $2,000. 31 Paid salaries of $2,500. 31 Received statement from Stephanie Becker showing gross receipts from concessions of $6,000 and the balance due to Josie Theater of $900 ($6,000 15%) for March. Becker paid one-half the balance due and will remit the
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2) Zarvo Moldings allocates manufacturing overhead to jobs based on machine hours. The company has the following estimated costs for the upcoming year: Direct materials used | $ 25,000 | Direct labor costs | $ 62,000 | Salary of factory supervisor | $ 41,000 | Advertising expense | $ 33,000 | Heating and lighting costs for factory | $ 21,000 | Depreciation on factory equipment | $ 9,000 | Sales commission | $ 8,000 |
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A Plan for Plastec Shawn Bhairo, Nikeda Cooks &Tonya Hall HRMG 5000 Webster University Abstract Compensation plays an integral role in attracting and retaining quality employees. Many companies are now moving beyond just providing a base salary for their employees and are now also incorporating various benefit and incentive plans. Mathis & Jackson (2011) states that “more than 80% of organizations are now utilizing variable pay” (p.396). Also, a recent survey shows that 48% of executives
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compensation. For example, some jobs pay by the hour. In these types of jobs, many times the employee has to punch a time clock so that there will be documentation of the exact number of hours that this person has worked. Other jobs pay an annual salary. For these types of jobs, the person is paid a set rate regardless of how many hours he or she works. Finally, some jobs have compensation which is based on commission. These are mostly sales positions, and the more a person sells, the more
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substantive audit procedure. The key audit objectives for client’s payroll function in this Trolley Dodgers Case are: * Occurrence-establish whether employees worked * Completeness-make sure hours are recorded * Accuracy-make sure hours work and salary paid are correct * Posting & Summarization-compare payroll master with general ledger * Classification –establish identity for each employee and correct pay rate * Timing-verify whether payroll was issued efficiently Payroll frauds do
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Evaluation and Employees obligation * Managers will evaluate employees and may recommend taking one or more of these courses * Employee’s progress in these courses will be taken into account in employees’ quarterly performance reviews and annual salary reviews. * Employees must be with the company for six months to be eligible and on full time schedule. Courses * Employees can choose to take a course even without the recommendation. * The courses will be offered during work hours
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Critical Incident Method Critical incident An unusual event that denotes superior or inferior emplyee performance in some part of the job The manager keeps a log or diary for each employee throughout the appraisal period and notes speciic critical incidents related to how well they perorm. Behaviroal Checklist Method The rater checks statemnets on a list that the rater believes are characteristic of the employee’s performance or behavior. Behaviorally Anchored Rating Scale Productivity
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