CONCEPTUAL PAYROLL SYSTEM V2

 Which document or accounting record contains the hours spent by the worker on each
production job? Job ticket
 In the general payroll process, since employee paychecks are prepared, reviewed, signed and
are forwarded to the paymaster for distribution to employees and a single check for the total
amount of the payroll is written and deposited into a payroll imprest account, cash goes out
from the company (cash outflow) twice or in two ways. False

PHYSICAL PAYROLL SYSTEM

 In the Advanced Technology or Integrated Payroll System Flowchart, which department is not
anymore involved (or the most, slightly involved) in the payroll process? Payroll Department
 In the Advanced Technology or Integrated Payroll System, entering timekeeping data in real-
time via magnetic swipe ID cards: involves employees sliding the card through the time clock to
record start and end time on the job.
 In the Basic Technology Payroll System Flowchart, which document or accounting record is
prepared by the Cost Accounting Department and sent to the GL Department for the latter's
use? Labor distribution summary
 Risk of inaccurately recording transactions in the payroll process includes: non-recording or
incorrectly recording wages payable.
 A physical control on supervision to address the risk of misappropriating cash through payroll
fraud involves: a superior observing timekeeping and reconciling time cards with actual
attendance.
 An IT control to address the risk of unauthorized access to payroll records and confidential
employee data includes: multilevel security procedures that limit access to HR, accounts
payable, cash disbursements, cost accounting and general ledger.
 In the Basic Technology Payroll System, the Payroll Department: reconciles information in the
personal action forms and time cards, calculates payroll and sends paychecks to paymaster for
distribution to employees.

PHYSICAL PAYROLL SYSTEM (VIDEO)

 The document which authorizes part of the payroll process and contains information such as
applicable payrates, changes in positions, etc. is the: personnel action form.
 Which of the following documents/accounting records are used by the GL Department to post to
the payroll clearing account? Labor distribution summary and payroll voucher
 Which of the following statements about the basic technology payroll system is most correct?
The Payroll Department computes the salaries expense based on the time cards and personnel
action forms (PAFs), updates employee records (total salaries, income taxes withheld),
prepares pay checks but finance signs, and sends signed pay checks to the paymaster for
distribution to employees.
CONCEPTUAL FIXED ASSET SYSTEM

 In the DFD of the fixed asset system, authorization procedures are part of: both a and c.
 In the physical fixed asset system, recording of losses or gains and preparing journal vouchers
are part of the disposal procedures. True
 The fixed asset system handles the purchase of fixed assets, as needed, and in accordance with
formal management approval and procedures and provides management with relevant
information to help plan for future fixed asset acquisitions. True
 In the computer-based fixed asset system flow chart, which hard copy document is encoded by
the fixed asset department to be used by the system (data processing department) in
performing asset maintenance procedures? Changes report
 The general fixed asset system consists of: all of the above.
 Authorization controls address the risks related to the physical security of fixed assets. False
 An IT control to address fixed asset system risks involves: testing the programming logic for
automatic calculations (depreciation).
 In the physical fixed asset system, acquisition procedures include: receiving the receiving report
and cash disbursement voucher and creating a record of the asset in the FAS ledger.