Question

In: Accounting

You work for a large multi-national organization and the Canadian subsidiary is being spun off into...

You work for a large multi-national organization and the Canadian subsidiary is being spun off into a separate organization. You will need to start doing some of the accounting functions that were previously handled by the head office in London, England. You have been asked by the Controller to prepare a memo with the different monthly accruals required for the bi-weekly payroll and how each will be accrued.

Solutions

Expert Solution

                                                                    XXX Organisation

                                                                         Memo

Ref No XYZ

Managers

All Departments

                                                           How can the monthly accruals of payroll required

              This is in reference to the different monthly accruals which are required for the bi-weekly payroll and the procedure to be accrued.This is an issue which is financially material in nature and reoccuring.As a result the business which follows the accrual method lust identify and record the payroll and related costs as they are earned rather than when actually paid.These accrual entries can take simplistic journal entries with correspondin effect of reversing entries in the next period.So there can be simple and complex accrual entries that can be recorded .Also since the accrual basis is very complex than the cash method since each business owner wants to minimize their exposure to professional fees and cash basis is typically more comptabile with the accrual basis of accounting.

Copy To

a.Employee

b.Member

c.Controller


Related Solutions

You work for a large multi-national organization and the Canadian subsidiary is being spun off into...
You work for a large multi-national organization and the Canadian subsidiary is being spun off into a separate organization. You will need to start doing some of the accounting functions that were previously handled by the head office in London, England. You have been asked by the Controller to prepare a memo with the different monthly accruals required for the bi-weekly payroll and how each will be accrued. 
You work for a large multi-national organization and the Canadian subsidiary is being spun off into...
You work for a large multi-national organization and the Canadian subsidiary is being spun off into a separate organization. You will need to start doing some of the accounting functions that were previously handled by the head office in London, England. You have been asked by the Controller to prepare a memo with the different monthly accruals required for the bi-weekly payroll and how each will be accrued.
After graduation, you go work for a large multi-national organization as an accountant. You have a...
After graduation, you go work for a large multi-national organization as an accountant. You have a loving family, large debts and love to travel. You are approached multiple times by your manager and s/he told you to fudge some numbers on the financial statements to ensure the organization appears profitable.  Explain whether you would move forward with what you have been told to do and explain why or why not.   You love your job and have worked for the organization for...
WrittenExercise: Assume a large multi-national insurance company has hired you as a consultant to help the...
WrittenExercise: Assume a large multi-national insurance company has hired you as a consultant to help the company assess the risks of opening a new office in Kuala Lumpur, Malaysia. After reading and reviewing the related text (Chapter 4) discussions dealing with risks and concerns of opening such an office, please answer the following question in essay form: Question: Identify three risks that the organization might be confronted with AND how can these risks be minimized? (pages 82 - 93 for...
Identify a "multi-national" culture-based conflict that you have observed in the workplace or find a "multi-national"...
Identify a "multi-national" culture-based conflict that you have observed in the workplace or find a "multi-national" culture-based conflict in current events where the company needed to resolve the conflict. Imagine you are the negotiator, consider your own personality, ability factors and your cultural perceptions. How would these factors and perceptions influence your strategy to resolve the conflict? “What Factors Shape a Negotiator's Predisposition to use Unethical Tactics.” Consider the conflict you identified, are there any ethical considerations that you need...
Describe the networks that might be used to support a large national retail organization. The organization...
Describe the networks that might be used to support a large national retail organization. The organization maintains a headquarters located in the Southern U.S. that supports hundreds of retail stores located around the country. The organization has massive distribution centers and procures its products from around the world. Short Essay Question
You work for a large, successful organization, but lately many of the IT projects have experienced...
You work for a large, successful organization, but lately many of the IT projects have experienced disappointing results. You have been put on the steering committee to improve the selection process. The organization has decided that any new projects selected for implementation must first meet strict financial measures. It has set minimum values for ROI, NPV and Payback periods based on a three (3) year investment period. Based solely on the financial numbers presented below, answer the following questions: Project...
You work for a company that is being accused of monopoly behavior, given its large size.
  You work for a company that is being accused of monopoly behavior, given its large size. Comparisons are made to the industry standard, where each establishment has on average about 16.3 employees. Your company is bigger than that, but you want to provide evidence against the monopoly charges. a. You’ve collected data at different times in your company’s history, when you had different amounts of capital. In 2012, SRATC = 17Q2 – 2,200Q + 100,000 In 2015, SRATC =...
You work for a company that is being accused of monopoly behavior, given its large size....
You work for a company that is being accused of monopoly behavior, given its large size. Comparisons are made to the industry standard, where each establishment has on average about 16.3 employees. Your company is bigger than that, but you want to provide evidence against the monopoly charges. You’ve collected data at different times in your company’s history, when you had different amounts of capital. In 2012, SRATC=17Q2−2,200Q+100,000 In 2015, SRATC=37Q2−1,500Q+55,000 In 2018, SRATC=20Q2−2,000Q+75,000 1. After plotting these three different...
Please show work by hand thank you 2 alternatives for an off-grid energy system are being...
Please show work by hand thank you 2 alternatives for an off-grid energy system are being compared by a company building a house in New Mexico (From Providers A and B). Alternative A is a solar energy system that has a life of 8 years, the first cost of $18,000, annual energy cost savings (can be treated as revenue in this cash flow) of $2600, and a salvage value after 8 years of $9000. Alternative B is a wind energy...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT