Korbin Simpson is the accountant for Nasese Bakery Ltd. The bakery has three bakers who are...
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Korbin Simpson is the accountant for Nasese Bakery Ltd. The bakery has three bakers who are paid on an hourly basis. When the bakers arrive at work, they must punch in their time card and punch out when the leave work. At the end of the week, Korbin processes the bakers' pay by calculating the number of hours they worked during the week. Payslips are generated and a copy is sent to the bakers and a copy kept for filing. Korbin then prepares the cheque and signs it and then sends it to the Bakery Manager who is the other cheque signatory. Korbin then sends the cheque to the bank with a soft copy of the disc data instructing the bank to directly credit the wages to the respective bakers' bank accounts. Required: i. ii. Draw a document flow chart of the payroll system of Nasese Bakery Limited Discuss the weaknesses of the payroll internal control system Korbin Simpson is the accountant for Nasese Bakery Ltd. The bakery has three bakers who are paid on an hourly basis. When the bakers arrive at work, they must punch in their time card and punch out when the leave work. At the end of the week, Korbin processes the bakers' pay by calculating the number of hours they worked during the week. Payslips are generated and a copy is sent to the bakers and a copy kept for filing. Korbin then prepares the cheque and signs it and then sends it to the Bakery Manager who is the other cheque signatory. Korbin then sends the cheque to the bank with a soft copy of the disc data instructing the bank to directly credit the wages to the respective bakers' bank accounts. Required: i. ii. Draw a document flow chart of the payroll system of Nasese Bakery Limited Discuss the weaknesses of the payroll internal control system
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Related Book For
Business Statistics A First Course
ISBN: 978-0321979018
7th edition
Authors: David M. Levine, Kathryn A. Szabat, David F. Stephan
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