Beruflich Dokumente
Kultur Dokumente
20 - 1
Learning Objective 1
Identify the accounts and
transactions in the payroll
and personnel cycle.
20 - 2
20 - 3
Payment
Payment for
payroll taxes
Direct
Labor
Beginning
balance
Earned wages,
salaries, etc.
Ending balance
Beginning
balance
Payroll
withholding
Ending balance
20 - 4
Payment
Payment for
payroll taxes
Payroll Tax Expense
Beginning
balance
Payroll
withholding
Ending balance
Accrued Payroll
Tax Expense
Payment
Beginning
balance
Payroll
tax expense
Ending balance
20 - 5
20 - 6
Learning Objective 2
Describe the business functions
and the related documents and
records in the payroll and
personnel cycle.
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Hiring of personnel
Ends
Payments
20 - 8
20 - 9
Timekeeping and
Payroll Preparation
20 - 10
20 - 11
Payment of Payroll
Payroll check
Payroll bank account reconciliation
20 - 12
20 - 13
Learning Objective 3
Understand internal control and
design and perform tests of
controls and substantive tests
of transactions for the payroll
and personnel cycle.
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20 - 15
Understand Internal
Control Payroll and
Adequate separation of duties
Personnel Cycle
Proper authorization
Adequate documents and records
Physical control over assets and records
Independent checks on performance
20 - 16
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20 - 19
Phase II
20 - 20
Audit procedures
Sample size
Items to select
Phase III
Timing
20 - 21
Learning Objective 4
Design and perform analytical
procedures for the payroll
and personnel cycle.
20 - 22
Analytical Procedures
for the Payroll and
Analytical
procedure
Possible misstatement
Personnel
Cycle
Compare payroll expense
account balances with
previous years
Misstatement of payroll
expense accounts
Misstatement of direct
labor and inventory
20 - 23
Analytical Procedures
for the Payroll and
Analytical
procedure
Possible misstatement
Personnel
Cycle
Compare commission expense Misstatement of
as a percentage of sales with
commission expense
previous years
and commission liability
Compare payroll tax expense
Misstatement of payroll
as a percentage of salaries and tax expense and payroll
wages with previous years
tax liability
Compare accrued payroll tax
accounts with previous years
Misstatement of accrued
payroll taxes and expense
20 - 24
Learning Objective 5
Design and perform tests of
details of balances for accounts
in the payroll and personnel cycle.
20 - 25
20 - 26
Tests of Details of
Balances
Amounts
withheld from employees
pay
for Liability
Accounts
Accrued salaries and wages
Accrued commissions
Accrued bonuses
Accrued vacation pay, sick pay, or other benefits
Accrued payroll taxes
20 - 27
Tests of Details of
Balances
Officers
compensation
for
Expense
Accounts
Commissions
Payroll tax expense
Total payroll
Contract labor
20 - 28
Presentation and
Disclosure Objectives
Required disclosures are not extensive
Some complex transactions require
footnote disclosure
20 - 29
Expenses
Audited by
TOC, STOT, and AP
Audited by
TOC, STOT, and AP
Ending
balance
Ending
balance
20 - 30
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