Payroll Accounting 122 Explain how a state employee working in the area of public safety may...

Payroll Accounting 122

Explain how a state employee working in the area of public safety may use compensatory time off in lieu of overtime compensation. Under what conditions would an employee of a state receive cash for his or her compensatory time off?

Expert Solution

Compensatory time off is Time off with pay in lieu of overtime pay for irregular or occasional overtime work. In other words we can say Compensatory time or Comp time is when employers compensate their employees for overtime hours with time off, instead of overtime pay. While comp time is a widespread practice, it is usually illegal for private-sector businesses (including private-sector nonprofit agencies) to compensate overtime-eligible (nonexempt) employees with comp time instead of overtime. These rules are housed under the Fair Labor Standards Act (FLSA).

State employees working in the area of public safety may accumulate compensatory time off up to 480 hours. The 480 hour limit represents 320 hour of overtime actually worked at the one and one-half overtime rate. The employees may “bank” their hours and use them later one-half during the course of their employment and as time off at time.

An employee would be paid for compensatory time off in the following two conditions:

a) At the time of the termination of employment.

b) Upon reaching the “bank” maximum of 480 or 240 hours.

ekkarill92 answered 2 years ago

Choose an area of the Accounting Profession (i.e. Public Accounting, Taxation, Managerial Accounting, Payroll, Controller (General...

Choose an area of the Accounting Profession (i.e. Public Accounting, Taxation, Managerial Accounting, Payroll, Controller (General Ledger/payables), Government Accountant, Bookkeeper, or any other area of Accounting) and write a two page paper to me describing the following: -Description of the area -any certifications available or required -typical duties and responsibilities -career prospects -educational requirements -why you chose the area The paper will be graded on content, spelling, grammar, and originality

Payroll Accounting What is the difference between an independent contractor and an employee? How does this...

Payroll Accounting What is the difference between an independent contractor and an employee? How does this status affect their taxes and reporting requirements on both employee and employer sides?

What are the payroll entries for the employee. (Explain) What are the payroll entries for the...

What are the payroll entries for the employee. (Explain) What are the payroll entries for the employer? (Explain)

How is Perception surveys benefit employee safety?

Payroll. Canada. In your own words, explain why and how an employee would: request additional tax...

Payroll. Canada. In your own words, explain why and how an employee would: request additional tax deductions at source apply for a reduction in tax deductions at source

Explain the meaning of Management Accounting. State how Management Accounting is useful for managers.

Payroll may seem like an easy area to review however there are many items to review...

Payroll may seem like an easy area to review however there are many items to review for this function. Please share your thoughts on auditing payroll and payroll accruals, etc. How would you approach this and what are specific areas/items you would want to verify?

Identify a public policy problem in the community engagement area you are working in, or one...

Identify a public policy problem in the community engagement area you are working in, or one that you are familiar with. Your post (about two paragraphs of 2-3 sentences) should cover the nature of the policy problem (lack of money, too much or not enrough regulation, lack of services etc), the level of government and agency responsible for the policy (e.g. Commonwealth Government, Department of Social Security), and what you think could realistically be done about the policy problem.

an essay that explains the differences between working in public accounting versus private/corporate accounting and includes...

an essay that explains the differences between working in public accounting versus private/corporate accounting and includes a discussion of your personal career goals and interests. Topic CASH Explains the differences based in this topic

Explain 1 area in which employee rights and employer responsibilities could result in conflict. How might...

Explain 1 area in which employee rights and employer responsibilities could result in conflict. How might this conflict arise, and what might you need to do to resolve it?.

Question