MGT421H5 Lecture Notes - Lecture 4: Bank Reconciliation, Accounts Receivable, Human Resources
Document Summary
No multiple choice, two short answers (related to case) and the remainder will be like the assignment (80%) Chapter 15: audit of the human resources and payroll cycle. Human resources: anything from hiring an employee to screening. Companies will get external companies to do all the calculations of tax withholding or any calculations and they will deposit the total amount + give the amounts to the company to enter in the accounting system. Good thing b/c leaves little room to manipulate. These controls are focused on nobody stealing cash and ensuring that the hours that are put in are correct, and that we aren"t paying fictitious employees. Withholding tax this calculation we want to make sure its correct and submitted timely because we don"t want to get in trouble with the government (liabilities and penalties) Not really a material area or big concern because we outsource third party companies to take care of this.
