Part 1) Payroll Cycle Flow Chart ( 30 marks) Using what we learned about risk in business, plan the payroll cycle in flow chart format. Assume you work for a large organization where there are hundreds of employees who work various shifts. Some employees are paid an hourly wage and some are paid a salary. There is a manager who schedules the shifts of all employees and an HR department who looks after personal employee information (SIN, date of birth, addresses, direct deposit information) and pay rates. The payroll department calculates the employees' pay, verifies the calculations, and processes pay cheque requests, but the pay cheques are paid through direct payments by the Payments department. The accounting department records the entries related to payroll in the accounting system. Create a flow chart of the payroll cycle. The starting point for the "Payroll Cycle" is "entering employee information into HR system" in order to be paid. The end point is recording of the payment in the accounting records and payment of the payroll. For each step (process function below) consider what decision or process flow should come next. You can use the following legend to build your flowchart or you can create your own in Excel/Word or on paper. If you do it on paper, take a picture and paste it into a Word document with Part 2: Start and End of the process, as follows "Payroll Cycle" = start: Processing function (verb); usually results in a change in data or informat: Example: Entering employee's personal information into HR system. Decision; a decision-making step. Example: authorize payroll cheque Information flow - shows the connection between functions and input or output data 34te. 1 a med in over ats P(i) d Part 1) Payroll Cycle Flow Chart ( 30 marks) Using what we learned about risk in business, plan the payroll cycle in flow chart format. Assume you work for a large organization where there are hundreds of employees who work various shifts. Some employees are paid an hourly wage and some are paid a salary. There is a manager who schedules the shifts of all employees and an HR department who looks after personal employee information (SIN, date of birth, addresses, direct deposit information) and pay rates. The payroll department calculates the employees' pay, verifies the calculations, and processes pay cheque requests, but the pay cheques are paid through direct payments by the Payments department. The accounting department records the entries related to payroll in the accounting system. Create a flow chart of the payroll cycle. The starting point for the "Payroll Cycle" is "entering employee information into HR system" in order to be paid. The end point is recording of the payment in the accounting records and payment of the payroll. For each step (process function below) consider what decision or process flow should come next. You can use the following legend to build your flowchart or you can create your own in Excel/Word or on paper. If you do it on paper, take a picture and paste it into a Word document with Part 2: Start and End of the process, as follows "Payroll Cycle" = start: Processing function (verb); usually results in a change in data or informat: Example: Entering employee's personal information into HR system. Decision; a decision-making step. Example: authorize payroll cheque Information flow - shows the connection between functions and input or output data 34te. 1 a med in over ats P(i) d