Are any time lags in recording economic events typically experienced in payroll systems? If so, what are they? Discuss the accounting profession’s view on this matter as it pertains to financial reporting.
Answer to relevant QuestionsWhat advantages are achieved in choosing a basic batch computer system over a manual system? What advantages are achieved in choosing a batch system with real-time data input over a basic batch system?If an asset that is not fully depreciated is sold or disposed, but the fixed asset records are not adjusted, what effect will this have on the financial statements?Sherman Company employs 400 production, maintenance, and janitorial workers in eight separate departments. In addition to supervising operation, the supervisors of the departments are responsible for recruiting, hiring and ...The treatment of fixed assets accounting also includes accounting for mineral reserves, such as oil and gas, coal, gold, diamonds, and silver. These costs must be capitalized and depleted over the estimated useful life of ...What activities are involved in the batch processing system?
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