The Human Resources Management and Payroll Cycle Chapter 15... Copyright © 2015 Pearson Education, Inc.Learning Objectives • Describe the major business activities and related informati
Trang 1The Human Resources
Management and Payroll Cycle
Chapter 15
Trang 2Copyright © 2015 Pearson Education, Inc.
Learning Objectives
• Describe the major business activities and related
information processing operations performed in the
human resources management (HRM)/payroll cycle.
• Discuss the key decisions to be made in the
HRM/payroll cycle and identify the information
needed to make those decisions.
• Identify the major threats in the HRM/payroll cycle
and evaluate the adequacy of various internal control procedures for dealing with them.
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Trang 3Human Resource Management Process
involuntary)
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Payroll Cycle Activities
▫ Source document: time sheets
▫ Payroll register and deduction register
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Trang 51 Update Master Payroll Data
2 Validate Time and Attendance Data
3 Prepare Payroll
1 Unauthorized changes to
payroll master data
2 Inaccurate updating of
master data
3 Inaccurate time and
attendance data
4 Errors in processing payroll
1 a Access controls and segregation of duties
2 a Data processing integrity controls
3 a Supervisory review
b Source data automation for data capture
4 a Data processing integrity
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Trang 6Copyright © 2015 Pearson Education, Inc.
4 Disburse Payroll
5 Disburse Payroll Taxes
1 Theft or fraudulent
distribution of paychecks
2 Failure to make required
payments
3 Untimely payments
4 Inaccurate payments
1 a Restrict access to blank payroll checks and check signing machine
b Use separate account (imprest fund)
2 a Configure system to make automatic payments on time
3 a Configure system to make automatic payments on time
4 a Process integrity controls
b Supervisory review
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Trang 7Reasons to Outsource Payroll
▫ Cost of processing and minimize errors
▫ Administration of benefits
Trang 8Copyright © 2015 Pearson Education, Inc.
Key Terms
• Human resource management
(HRM)/payroll cycle
• Knowledge management systems
• Time card
• Time sheet
• Payroll register
• Deduction register
• Earnings statement
• Payroll clearing account
• Flexible benefits plan
• Payroll service bureau
• Professional employer
organization (PEO)
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