FNSTPB402___Part_A_Student___Assessment.docx
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School
Greenwich English College *
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Course
402
Subject
Accounting
Date
Nov 24, 2024
Type
Pages
97
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Version: 1.0
Responsibility: Training Manager
Date Created:
June 2018
BSBS
Student Assessment Booklet
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FNSTPB402
Establish and Maintain Payroll System
Student Assessment Booklet Part A
Student ID: ………………….. Student Name: …………………………………..…
FNSTPB402
Student Assessment Booklet
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FNSTPB402
Student Assessment Booklet
ASSESSMENT RECEIPT FORM
STUDENT NAME:
STUDENT ID:
COURSE CODE:
COURSE TITLE:
TRAINER’S/ASSESSOR’S NAME:
DUE DATE
UNIT CODE AND DESCRIPTION
FNSTPB402- Establish and Maintain Payroll System
NOTE:
1.
This form must be stapled on top of the Assessment Workbook upon submission.
2.
This Assessment Receipt Form must be dated and signed in.
DECLARATION
1.
I am aware that penalties exist for plagiarism and academic dishonesty.
2.
I am aware of the requirements set by my Trainer/Assessor.
3.
I have retained a copy of my Assessment.
Student Signature: Date: ASSESSMENT RECEIVED BY BLUE LOTUS Staf
Name:
Date:
Signature: ================================= Tear Here ===========================
Students must retain this as a Record of Submission.
Assessment Handed On:
Unit Code & Description: FNSTPB402- Establish and Maintain Payroll Blue Lotus Academy
Student
Assessment Received by Blue Lotus Academy Staff Name: ……...……...
Signature: ……………………..…………..…...
Student ID: .......................................
Student Signature: ….……………………..…….
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FNSTPB402
Student Assessment Booklet
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ABOUT THIS BOOKLET
This assessment booklet has been designed for students undertaking face-to-face mode of study
to provide information before you undertake these assessments. It also contains assessment
tools to assess the skills and knowledge required from you to be deemed competent in this unit.
This booklet might not be suitable for students taking other modes of study e.g. online or work
based. Please read all the information given to you when you receive this assessment booklet. If you do
not understand any part of this booklet, please inform your assessor.
The questions in Workbook Part A
are under Knowledge Assessment and are all in in a short
answer format. The assessments in Workbook Part B
are composed of Case Studies and Assessor
Observation Report Form. The longer questions requiring creative and analytical thought
processes are covered in the Case Studies (Workbook Part B). The Assessor Observation Report
Form involves the assessor observing you as you complete tasks relevant to the requirements of
the unit of competency.
The assessment booklet contains two (2) parts:
PART 1: Assessments information:
This part contains information on assessments for this unit of
competency and how assessment will be conducted throughout unit to achieve the competency.
It includes:
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Application of the unit of competency
Purpose of assessment
Elements, performance evidence and knowledge evidence requirements of the unit
Conditions, context, required resources and location of the assessment.
Assessment tasks.
Outline of evidence to be collected.
Administration, recording and reporting the requirements including special adjustments,
appeals, reasonable adjustments and assessors’ intervention. PART 2: Assessment tasks:
This part contains the information to successfully undertake the
assessment task. In each assessment task, students will find the following information:
Knowledge Assessment.
Case Studies.
Information on resources required, where applicable PART 1 Assessment Information
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Application of the unit of competency:
This unit describes the skills and knowledge required to record and prepare payroll documentation, respond to enquiries, and process payroll data for manual and computerised systems.
It applies to individuals, including BAS agents, who use a range of organisational and other specialist techniques. They may work directly for organisations or be small business owners, contractors or service providers.
Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. This unit is designed to meet the education requirements of the Tax Practitioner Board (TPB). Refer to the FNS Financial Services Training Package Companion Volume Implementation Guide or the relevant regulator for specific guidance on regulatory requirements.
Elements
Elements
Elements topic
1
Establish payroll requirements
2
Record payroll data
3
Prepare and process payroll
4
Handle payroll enquiries
5
Maintain payroll
Performance evidence:
Evidence of the ability to complete tasks outlined in elements and performance criteria of this unit in the context of the job role, and:
Evidence of the ability to:
identify, calculate and input data from time-recording systems for payments into manual or computerised payroll systems
produce a payroll report according to organisational and legislative requirements
present a payroll report for verification and approval
maintain records according to organisational and legislative requirements that relate to security and confidentiality of information.
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Knowledge Evidence
The candidate must be able to demonstrate the following knowledge to effectively complete
the tasks outlined in the elements and performance criteria of this unit, and to manage tasks
and reasonably foreseeable contingencies in the context of the work role.
Scope of services offered by a business activity statement (BAS) agent providing payroll services
Key principles of award and enterprise agreements and industrial instruments required to maintain payroll systems
Organisational policy and procedures that affect payroll, including the structure of authority in organisations
Industry codes of practice relevant to payroll operations
Key features of manual and computerised payroll systems
Legislative and record-keeping requirements from all levels of government that affect
business operation and reporting requirements, especially in regard to:
Fair Work Act
National Employment Standard
Superannuation Guarantee (Administration) Act
Corporations law
Workers compensation and work health and safety
State payroll tax relating to payroll activities
Privacy Act and requirements relating to confidentiality and security of records
Higher Education Loan Program (HELP)
Medicare levy
Tax Agent Services Act (TASA)
current commonwealth, state and territory industry and modern awards, and enterprise bargaining agreements
individual employment agreements
commonwealth, state and territory leave Acts, including annual, personal, paid parental and long service
Australian Bureau of Statistics (ABS) Act
Current Australian Taxation Office (ATO) requirements relating to payroll systems, including:
Australian business number (ABN)
payment summaries
employment termination payments (ETPs)
tax file number (TFN) declaration
Tax Practitioners Board (TPB) requirements relating to payroll systems, including:
Registration and scope of services documentation requirements for BAS agents
code of professional conduct
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Key requirements of taxation law relating to payroll systems, including:
pay as you go instalment (PAYGI) tax
pay as you go withholding (PAYGW) tax
fringe benefits tax (FBT) as it relates to salary packaging
Key aspects of routine and non-routine requirements for payroll, including:
routine: award payments, salary amount, salary packaging, superannuation guarantee and superannuation reporting
non-routine: termination payments and superannuation guarantee charge
Context and conditions for assessment:
To comply with the assessment conditions
of this unit:
Students
must demonstrate adequate skills and knowledge evidence by providing a
satisfactory outcome for each assessment task. They will be marked against the
recommended model answers in this trainer and assessor guide.
Students will have access to suitable facilities, office equipment and resources, including
workplace documentations.
Blue Lotus Academy will conduct practical assessment for this unit in its simulated classroom Located at Level 2, 540 Elizabeth Street, Melbourne VIC 3000
Knowledge assessment for this unit will be conducted at Blue Lotus Academy Classrooms for the theory component of the course are delivered at Level 2, 540 Elizabeth Street, Melbourne VIC 3000
All Blue Lotus Academy assessor those are assessing this unit will satisfy the requirements
specified in Standards for Registered Training Organisations’ requirements for assessors.
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Assessment Method
There are two (2) assessment workbooks for this unit assessment, Part A and Part B.
This is Workbook Part A:
This workbook focuses principally on the essential knowledge required in the FNSTPB402 subject
along with preparation exercises that will be used in PART B of this assessment that will need to
be booked and completed as a supervised assessment:
Knowledge Assessment
– A set of generic questions testing the candidate’s knowledge
and understanding of the general theory behind this unit.
This includes:
Case Study Part A Preparation Exercises - A set of exercises to further test the candidate’s
knowledge which extends to test the candidate’s analytical skills in problem-solving. It
also tests performance with numerical calculations in preparation for use in Part B of this
assessment.
NOTE: This PART A assessment can be completed as a take-home assessment and must be
submitted and marked prior to the setting of an appointment to complete the PART B
assessment.
The PART B assessment needs to be booked with the assessor at least one (1) month in
advance of the candidate’s preferred assessment date.
Workbook PART B:
The Part B workbook principally focuses on the essential skills required in the FNSTPB402 subject
and will use the preparation exercises completed in this workbook in the PART B Case Study
practical exercises. Part B uses the following assessment method:
Case Study Part B – Includes detailed scenarios and simulated environments providing all
necessary information required to complete relevant tasks and activities.
The successfully completed PART A assessment needs to be available to candidates for use in
the PART B skills assessment. This means that this needs to have been marked and corrected
where necessary before starting PART B.
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Resources Required:
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the bookkeeping field of work and include access to:
office equipment, technology, software and consumables required to establish and maintain a payroll system.
Installed software: o
MS Word
o
Adobe Acrobat Reader
o
MYOB AccountRight Plus Student Edition v 19.12 or MYOB AccountRight
Enterprise Student Edition v 19.12 for Windows
o
MYOB AccountEdge Pro v15.5 Student Edition for Apple (Mac)
A calculator
Two (2) volunteers to participate in the roleplay activity
A video recording device (e.g. mobile phone, webcam, video camera, etc.)
A safe place to conduct the roleplay activities
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Clustering/holistic assessment:
There is no provision for clustering of assessments in this unit.
Competency Requirements:
To be judged competent in this unit, students will be required to demonstrate all indicators which
are shown in the Marking Guide (assessor’s document).
Students must satisfactorily complete all assessment tasks to be Competent (C) in the unit. Students with unsatisfactory completion of any of the assignment tasks will be deemed Not Yet Competent (NYC).
You will ensure that the evidence collected meets the requirements of the Rules of Evidence (authentic, current, sufficient and valid) prior to entering results into the competency record sheet. Students unsuccessful at achieving “Satisfactory” for any assessment at the first attempt will be given two opportunities for reassessment. If the student is still deemed Not Yet Competent (NYC)
after two reassessments in a unit of competency student will be required to repeat the unit as per the scheduled delivery of the course. For further details, refer to Blue Lotus Re-Assessment Policy and Blue Lotus Course Progress Policy. Page: 11 of 97
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Assessment tasks
Assessment description
Due date
Location of assessment
Assessment Task 1 (AT1) – Knowledge Assessment
Written assessments to test students’ understanding of underpinning knowledge, concepts and/or theories relevant to the units
of competency included in this subject
You will be given 60 minutes to complete this task.
Needs to be completed in the classroom
Assessment Task 2 (AT2) – Case Studies
Detailed scenarios and simulated environments providing all necessary information required to complete relevant tasks and activities
Needs to be completed in the classroom
Assessment Task:
To achieve competency in this unit, students must satisfactorily complete all the following
assessment tasks within the date and time specified in the session plan. This will demonstrate
that students have all the required skills and knowledge for this unit. Outline of evidence to be collected:
Students must submit the following evidence to be marked competent for this unit. you will ensure that the evidence submitted meets the Rules of Evidence which are valid, sufficient, current and authentic. Assessment Task 1 (AT1) – Knowledge Assessment
Completed knowledge test with questions answered and
submit to your assessor electronically or paper-based.
Complete and sign the cover sheet for assessment task
Assessment Task 2 (AT2) – Case Studies
Complete the tasks in Case studies and submit to your
assessor electronically or paper-based.
Complete and sign the cover sheet for assessment task
Administration, recording and reporting requirements: Student must read and follow this information carefully while completing assessments for this
unit of competency and if the student is unsure of any instruction, you should clarify. The assessments are intended to be equitable, fair and flexible. Submission of assessment: Student must ensure that the completed assessment tasks are submitted along with the
assessment cover sheet.
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You will mark the submitted assessment, provide feedback to students and complete the
comments section against each task, where applicable.
ALL tasks must be completed in legible English. It is preferred that the tasks submitted for
assessments are typed and that they are legible and clear, if handwritten.
Student must submit all assessments on or before the due date specified by the assessor
as per the training plan.
Extensions for individual assessment tasks may be negotiated in specific circumstances
with you. However, Student need to provide genuine evidence documents when seeking
an extension to due date (e.g. extensions due to illness will require a medical certificate).
To arrange an extension, student must speak to you prior to the due date. Extensions
must be confirmed by the trainer in writing.
Student is permitted to use dictionaries and to seek support (as required) unless it puts in
jeopardy the integrity of the assessment; you will let them know if this is the case.
Unless the assessment task specifically allows pair work or group activities such as
brainstorming, student must submit their own original work and must not copy the work
of other students. Plagiarism is unacceptable.
Student can submit the assessment tasks through the learning management system or
hand in hard copies in the classroom.
Recording an assessment result:
Once the assessments have been completed, you will record the assessment results on the student assessment record sheets and LMS/student management system and all results will be approved by the course coordinator. You will check that student have completed the student declaration prior to filling out the assessment sheet. Retaining assessment records:
Blue Lotus Academy will securely retain all completed student assessment items for each student
for a period of six months from the date on which the judgement of competence for the student was made. Blue Lotus Academy will also retain sufficient data to be able to reissue AQF certification documentation for a period of 30 years. All assessment records submitted to the assessor for marking will be stored and retained properly. A hard copy will be submitted to student administration for filing along with the evidence. The assessor will ensure that the student records are securely retained in accordance with the Blue Lotus Academy record control policy accessible by the Student Administration Officer. Assessment outcomes:
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For unit of competency: There are two outcomes for assessments: C = Competent and NYC = Not Yet Competent (requires
more training and experience). Student will be awarded C = Competent on completion of the unit when the assessor is satisfied that student have completed all assessments and have provided the appropriate evidence required to meet all criteria in line with the Rules of Evidence. If the student fails to meet this requirement, they will receive the result NYC = Not Yet Competent and will be eligible to be re-
assessed in accordance with the Blue Lotus Academy Re-Assessment Policy and Blue Lotus Academy Course Progress Policy.
For assessment task: There are two assessment outcomes for tasks. S = Satisfactory and NS = Not Satisfactory. On the individual assessment cover sheet for assessment tasks the student will be marked Satisfactory, if they have completed the task successfully, submitted all evidence and satisfied the
assessment criteria and Not Satisfactory, if the student have not completed the task, the evidence is not sufficient or does not meet the requirements of the assessment criteria
Re-assessment:
If student is unsuccessful at achieving competency at the first attempt, they will be given two further opportunities for re-assessment at a mutually agreed time and date. For further details, refer to the Blue Lotus Academy Re-Assessment Policy and Blue Lotus Academy Course Progress Policy. As this is a competency based program, the assessment continues throughout the program until you either achieve Competency in the assessment tasks or a further training need is identified and addressed.
Student access to records:
Student has the right to access current and accurate records of their participation and results at any time. Student can see their results or attendance progress by logging in to the Learning Management System at any time or they can request a copy of their records by contacting the student administration and the assessor.
Support:
Student may seek clarification about the assessment information and the instructions and tasks at any time from the assessor. Reasonable adjustments and special learning needs:
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Blue Lotus Academy Australia works to ensure that students with recognized disadvantages can access and participate in education and training on the same basis as other students. Disadvantages may be based, for example, upon age, cultural background, physical disability, limited or non-current industry experience, language, numeracy or digital literacy issues.
Where pre-training interviews and assessments reveal that a student may require special support
or where, after enrolment, it is made apparent that the student requires special support, reasonable adjustments will be made to the learning environment, training delivery, learning resources and/or assessment tasks to accommodate the particular needs of the student. An adjustment is reasonable if it can accommodate the student’s particular needs, while also taking into account factors such as the student’s views, the potential effect of the adjustment on the student and others and the costs and benefits of making the adjustment.
Any adjustments made must: o
Be discussed, agreed and documented in the assessment record
o
Benefit the student. o
Maintain the integrity of the competency standards and course requirements as stipulated in the training package. o
Be reasonable to expect in a workplace.
Reasonable adjustment may consist of: a.
Providing additional time for students to complete learning and assessment tasks. b.
Presenting questions orally for students with literacy issues.
c.
Asking questions in a relevant practical context.
d.
Using large print material.
e.
Extending the course duration.
f.
Presenting work instructions in diagrammatic or pictorial form instead of words and sentences.
Complaints and appeals:
If student is dissatisfied with an assessment outcome, they may appeal the assessment decision. In the first instance, student is encouraged to appeal informally by contacting the assessor and discussing the matter with them. If they are dissatisfied with the outcome of such discussion, they may appeal further to either the course coordinator and/or Head of Department. If students
are still dissatisfied, they may appeal formally and in writing to have the result reviewed. For more information, refer to the Assessment Policy and the Complaints and Appeals Policy and Procedures.
Assessor intervention:
You will check if student is ready for the assessment, and defer the assessment if they are not. Feedback will be given to student at the completion of the assessment.During role play, you may act as a client or employer, where required, but you will not interfere with the assessment. If the Page: 15 of 97
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assessment activities might impact on your safety or that of others, you will stop the assessment immediately.
Plagiarism, cheating and assessment dishonesty:
Blue Lotus Academy considers plagiarism and cheating as a serious misdemeanour. Evidence of plagiarism and cheating is treated on a case by case basis and the consequences for students engaging in such practices may include failure of the assessment or unit or exclusion from the course. For more information, refer to Blue Lotus Academy’s Assessment Policy.
Assessor feedback:
You will provide feedback on the assessment that student have submitted. This can identify
student’s strengths and weaknesses or be an overall comment on your submission. A copy of the
feedback along with the submission will be given to student and you must keep a copy of it
throughout the completion of the course. Page: 16 of 97
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Student Declaration: I
..............................................................................
(Student Name
) have read and understand the information provided above and also understand and accept that any act of plagiarism and academic dishonesty may have penalties including cancellation or suspension of my enrolment with Blue Lotus Academy. I further declare that:
All assessment work submitted for this unit competency is my own original work and
plagiarism and collusion has not occurred.
Assessment work has not been copied or submitted for any other unit/course.
I have taken proper care and effort to ensure my work has not been copied by another
person.
I have retained a copy of this assessment for my own records in the event I have to
reproduce my work.
I am aware that any assessment deemed unsatisfactory will require me to undergo
reassessment which may be different to the one originally submitted.
Student signature:
...............................................................
Date: ......
/
......
/
.......
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PART 2 Assessment Task
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Assessment Cover Sheet: Assessment Task 1 (AT1)
Student Detail
Student Name
Student Id:
Group No (If Applicable):
Assessment Details
Unit of Competency
FNSTPB402- Establish and Maintain Payroll System
Assessment Task
Knowledge Assessment
Due Date
Date of Submission
Assessment Outcome Satisfactory □ Not Satisfactory □
Date
Assessor name
Assessor Signature and Date
Comments/Feedback
Student Plagiarism Declaration:
By submitting this assessment to the college, I declare that this assessment task is original and has not been copied or taken from another source except where this work has been correctly acknowledged. I have made a photocopy or electronic copy or photograph of my assessment task, which I can produce if the original is lost.
Assessor
Student
I declare that I have conducted a fair, valid, reliable and flexible assessment with this student, and I have provided appropriate feedback. I also declare that I have undertaken the indicated assessment integrity checks Google check for plagiarism
Yes
No
Check for Copying/Collusion
Yes
No
Check for Authenticity (own work)
Yes
No
Cheating or use of model answers
Yes
No
Signature: ........................................................
Date: ................................................................
I have received, discussed and accepted my result as above for this task and I am aware of my appeal rights. Signature: ...........................................
Date: ................................................
Required documents and equipment:
Computer with internet and email access and a working web browser. Page: 20 of 97
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Installed software: MS Word, Adobe Acrobat Reader, MYOB AccountRight Plus Student Edition v 19.12 for windows, MYOB AccountEdge Pro V15.5 student edition for Apple (Mac)
A calculator
Two volunteers to participate in the roleplay activity
A video recording device (e.g. mobile phone, webcam , video camera etc)
A safe place to conduct the roleplay activities
Student assessment booklet and a pen (organized by the student).
Blue Lotus Academy Learners’ resources for the unit FNSTPB402- Establish and Maintain Payroll System.
Learner’s notes
Instructions for students:
This assessment will be conducted in the Blue Lotus Academy classroom or outside the campus with access to the resources listed above.
Students must satisfactorily perform all tasks to be deemed satisfactory for the assessment.
Planning the assessment
Recommended date for assessment: [
Trainer to provide]
Access all resources mentioned in required resources either printed copies or access via the internet
Time required for assessment: 60 minutes
Students must:
o
Answer all the questions satisfactorily to be deemed competent o
Complete the and submit in due timelines
o
Submit with a completed assessment cover sheet
You will set a time to provide feedback
Evidence specifications:
At the end of the assessment, students will be required to submit the following evidence before the due date specified by the assessor:
Students are required to submit a completed (ticked) multiple choice question listed in Knowledge test.
Completed and signed cover sheet for assessment
Evidence submission:
Documentation can be submitted electronically or paper-based.
You will record the assessment outcome on the assessment cover sheet.
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KNOWLEDGE ASSESSMENT
1.
In 100-200 words, explain the scope of services relating to payroll systems that a BAS
agent can provide. Provide two (2) specific examples of these services.
Guidance: You may refer to the following in your response:
definition of ‘BAS service’ in the Tax Agent Services Act 2009 (TASA)
definition of ‘BAS provision’ in Income Tax Assessment Act 1997
additional services a BAS agent is allowed to provide as outlined in the Tax
Agent Services (Specified BAS Services) Instrument 2016.
provide services under the Superannuation Guarantee (Administration) Act 1992 to
the extent that they relate to a payroll function or payments to contractors,
determine and report the superannuation guarantee shortfall amount and any
associated administrative fees,
deal with superannuation payments made through a clearing house,
complete and lodge the Taxable payments annual report to the ATO, on behalf of a
client,
send a tax file number declaration to the Commissioner, on behalf of a client, and
apply to the Registrar for an Australian Business Number, on behalf of a client.
A client outsources their entire payroll and accounts work to a payroll service
provider.
A payroll service provider offers a help desk which provides customised advice to
assist their client to meet a specific tax outcome.
A payroll service provider undertakes a payroll compliance review for their client to
ensure compliance with taxation obligations.
A payroll service provider offers tax related advice to their client that is specific to
the client’s circumstances.
A payroll service provider prepares and/or lodges documents with the ATO on behalf
of their client.
A payroll service provider deals with the Commissioner on behalf of their client.
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2.
Answer the following questions about modern awards.
a.
In 80-150 words discuss what a modern award is. Your discussion must include
the general principles of modern awards that must be applied in maintaining
payroll systems.
a.
A modern award is a legal document which sets out the minimum terms and conditions of employment on
top of the National Employment Standards (NES). Modern awards cover a whole industry or occupation and provide a safety net of minimum pay rates and
employment conditions They provide entitlements such as rates of pay, hours of work, rosters, breaks,
allowances, penalty rates and overtime. As such it is critical for HR and Payroll managers to be aware of any changes to modern awards that
affect their employees.
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b.
Answer the following:
Specify your industry or an industry you are familiar with.
Identify the modern award that applies to the industry.
In 80-150 words, discuss the principles in the award that must be followed
in maintaining payroll systems.
Industry: Book industry
Modern award applicable to industry: Book Industry Award 2010
Award principles that must be followed in maintaining payroll systems:
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3.
In 80-150 words discuss the following:
what an enterprise agreement is
how enterprise agreements affect the application of modern awards in
maintaining payroll systems
the principles of enterprise agreements that must be applied in maintaining
payroll systems.
An enterprise agreement is an agreement made at the enterprise level that contains terms and conditions of employment, including wages, for a period of up to 4 years from the date of approval. The Fair Work Act sets out requirements for bargaining for a proposed enterprise agreement. Enterprise agreements always apply to employees of a business where there is a registered Enterprise agreement in place. Under the Individual Transitional Employment Agreement ((ITEA) the key principles relating to the maintenance of payroll systems are:
As of December 2009, no new ITEAs may be made but existing ITEAs continue to operate until terminated.
From 1 January 2010, the minimum rates of pay are determined by the applicable modern award and the conditions of employment are subject to the NES.
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4.
Answer the following questions regarding industrial instruments:
a.
Identify and briefly describe two (2) other industrial instruments other than
modern awards and enterprise agreements. b.
For each industrial instrument identified, explain two (2) of its key principles that
must be followed in maintaining payroll systems.
Industrial instrument 1: Description:
Key principles that must be followed in maintaining payroll systems:
i.
ii.
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Industrial instrument 2: Description:
Key principles that must be followed in maintaining payroll systems:
i.
ii.
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5.
Access TPB’s Code of Professional Conduct for BAS agents as outlined in the Tax
Agent Services Act 2009
here
.
Identify two (2) principles relevant to payroll operations. In 40-80 words, explain
how each principle is applied in establishing and maintaining payroll systems.
Principle
How it is applied in establishing and maintaining payroll
systems
i.
Honesty and Integrity
- Act honestly and with integrity - Comply with the taxation laws in the conduct of their
personal affairs. - Account for money or other property received on trust
from or on behalf of clients.
ii.
Independence
- Act lawfully in the best interests of the client. - Have in place adequate arrangements for the management
of conflicts of interest that may arise in relation to the
activities that are undertaking in the capacity of a registered
BAS agent.
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6.
Access the code of practice followed by the recognised professional association you
are a member of. Guidance: If you are not currently a registered member of any recognised
professional association, you may choose an association applicable to you from this
website
.
Identify two (2) principles relevant to payroll operations. In 40-80 words, explain how
each principle is applied in establishing and maintaining payroll systems.
Recognised
professional
association
Link to association’s code of
practice
Principle
How it is applied in establishing and maintaining payroll
systems
i.
ii.
7.
Below are aspects of payroll systems. Complete the table by listing one (1) key feature of
manual payroll systems and one (1) key feature of computerised payroll systems relating
to each aspect.
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Aspects of payroll
systems
Key features of manual payroll systems
Key features of computerised payroll
systems
i.
Storage
Compare file storage and/ or separate filing
room is usually reserved for keeping the
employment records and others documents
used in the payroll system.
Computerised payroll systems allow
businesses to store huge amounts of
information in a relative small space.
ii.
Cost
The system requires arrangements for
physical storage and requires more than one
employee to maintain it. Where the cost of
manual payroll system is relatively small,
the associated cost of storage and salaries of
employees to operate the system can be very
high.
Although the cost of buying and
maintaining a computerized payroll system
is quite high, it does allow savings in other
area. For example, a single employee can
process the wages for large numbers of staff
relatively quickly.
iii.
Security
A manual system could potentially be
locked into a safe for security.
When we start using a computerised system,
we also need to implement computerised
security protocol. The protocol could
include password protection, virus scanners
and security for any back up of data.
iv.
Time
Manual systems are often labourintensive
and time- consuming to operate, with
information needing to be manually
recorded multiply times in a single pay run.
Computers have allowed for information to
be carried forward to new periods without
the need for it to be duplicated. The
information can also be used to produce
multiple reports without the need to re- enter
information.
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8.
Listed below are requirements that must be followed when establishing and maintaining
payroll systems. Complete the table below:
a.
Specify your State/Territory.
b.
For each item listed, identify one (1) federal legislative requirement and one (1)
State/Territory legislative requirement, if applicable. Explain how each requirement
affects a business’s operations relating to the payroll system.
Guidance:
Federal legislative requirements refer to requirements that apply in the
same way to all States and Territories within Australia. State/Territory
requirements are specific to one (1) State/Territory only. An example of this
is WHS legislation which consists of federal requirements under the
Commonwealth act and State/Territory-specific requirements under the
acts specific to each state and territory.
Write ‘N/A’ if there is no State/Territory requirement. c.
Identify one (1) record-keeping requirement relating to payroll systems under the
item listed and explain how it affects a business’s reporting requirements. Include
any requirements specific to your State/Territory, if applicable.
Your State/Territory
Federal legislative
requirement
State/Territory legislative
requirement
Record-keeping
requirement
i.
Fair Work Act
Requirement:
National
minimum
wage is set at $18.29
per hour for award and
agreement-
free
employees.
How it affects a business’s
payroll operations:
For employees not
covered by awards and
agreements,
their
salary package must
be set in accordance
with
the
national
minimum wage
Requirement:
How it affects a business’s
payroll operations:
Requirement:
Employee
records
must not be false or
misleading
to
the
employer’s
knowledge.
How it affects reporting requirements:
Employee
records,
including
payroll
records and payslips,
must
contain
information that is
true,
correct
and
verifiable.
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ii.
National
Employment
Standards
Requirement:
Maximum
weekly
hours of work for full-
time employees is set
at 38 hours.
How it affects a business’s
payroll operations:
Full-time
employees
must be required to
work the maximum
weekly hours only. Any
work
rendered
in
addition to these hours
should be counted as
overtime
and
paid
accordingly
Requirement:
How it affects a business’s
payroll operations:
Requirement:
A payment summary of
the employee’s income
must be given to
employees at the end
of each financial year.
How it affects reporting requirements:
All
information
relating to payments
made to the employee,
including the taxes
applied
and
time
sheets
must
be
diligently
and
accurately reported in
order for the payment
summary
to
be
accurate as well.
iii.
Superannuati
on
Guarantee
(Administrati
on) Act
Requirement:
The employer must
pay
superannuation
contributions on behalf
of
all
eligible
employees, in addition
to their wages and
salaries.
How it affects a business’s
payroll operations:
Superannuation
contributions must be
factored
into
all
eligible
employee’s
salary packages.
Requirement:
How it affects a business’s
payroll operations:
Requirement:
You must keep records
that show how much
super guarantee you
paid for each employee
and
how
it
was
calculated.
How it affects reporting requirements:
Super
guarantee
payments
must
diligently
and
accurately reported.
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iv.
Corporations
law
Requirement:
Corporations(Queensla
nd) Act 1990 places
the jurisdiction of civil
matters
to
the
Supreme
Court
of
Queensland.
How it affects a business’s
payroll operations:
If any disputes occur
and/ or legal action
must
be
taken
regarding any payroll
matters
under
corporations law, the
business must escalate
this to the local courts
of Queensland.
Requirement:
How it affects a business’s
payroll operations:
Requirement:
Under
the
Corporations Act, all
proprietary companies
must keep sufficient
financial records to
record and explain
their transactions and
financial position and
allow true and fair
financial statements to
be
prepared
and
audited.
How it affects reporting
requirements:
Any fringe benefits tax
and PAYG withholding
applied to employee
benefits and wages
must be reported in
the business’ s activity
statement.
v.
Workers compensatio
n
Requirement:
Employees must be
paid if they are injured
at work or become sick
due to their work.
How it affects a business’s
payroll operations:
In
the
event
an
employee is injured or
gets sick because of
work, they must be
given enough payment
covering wages while
they’ re not fit for
work
and
medical
expenses
and
rehabilitation.
Requirement:
How it affects a business’s
payroll operations:
Requirement:
The business must
keep records of all
information related to
workers compensation
claims in a safe and
private location and
date
all
correspondence.
How it affects reporting
requirements:
This
enables
the
business’s
efficient
reporting
and
notification
of
workplace injuries and
accidents
to
Work
cover and helps the
agency process claims
for
workers
compensation.
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vi.
Work health and safety
Requirement:
It is the employer’s
obligation to manage
exposure to risks to
employee health and
safety
by
putting
controls in place.
How it affects a business’s
payroll operations:
In the context of
payroll
operations,
implementing
employee entitlements
with respect to breaks,
rosters, leaves and
maximum
weekly
hours of work is a form
of control to manage
risks to employee’ s
health and well being.
Requirement:
How it affects a business’s
payroll operations:
Requirement:
The business must
keep
records
of
workplace
incidents
and first aid incident
register.
How it affects a business’s
payroll operations:
The records above
enable the business’s
efficient reporting and
notification
of
workplace injuries and
accidents
to
the
appropriate agencies.
vii.
State payroll tax relating to payroll activities
There is no need to fill out
this section.
Requirement:
How it affects a business’s
payroll operations:
Requirement:
The business must
store
original
documents
even
if
electronic records are
kept.
For
auditing
purposes,
electronic
records must be easy
to access and read.
How it affects a business’s
payroll operations:
This makes it easier to
reconcile figures when
reporting payroll tax
returns, as well as
preparing the business
for future payroll tax
audits.
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viii.
Privacy Act
The
requirements
must
be
related
to
confidentialit
y
and
security of
information.
Requirement:
Individual’s personal
information must be
kept
private
and
confidential.
Where
personal information is
collected,
the
information must be
kept secure and should
not
be
disclosed
without
the
individual’s
permission.
How it affects a business’s
payroll operations:
The payroll system,
whether manual or
computerised,
must
have
security
measures in place, e.g.
locks
for
manual
payroll systems and
passwords
for
computerised payroll
systems.
Requirement:
How it affects a business’s
payroll operations:
Requirement:
All records kept in
relation
to
payroll
operations must be
kept
private,
confidential
and
secure.
How it affects reporting
requirements:
Only
payroll
information in relation
to the business’ s
obligations(e.g. PAYG
withholding amounts)
are reported on tax
returns.
ix.
Higher Education Loan Program (HELP)
Requirement:
If an employee has a
HELP debt and their
repayment income has
already exceeded the
minimum
threshold,
the employee must
begin
making
compulsory
repayments
against
their loan.
How it affects a business’s
payroll operations:
Compulsory
repayments
for
employees with HELP
debts must be included
in the PAYG amount
withheld from payment
to the employee.
Requirement:
How it affects a business’s
payroll operations:
Requirement:
HELP
repayments
must be accurately
recorded.
How it affects reporting
requirements:
HELP
repayments
included
in
PAYG
withholding amounts
must be reported in
the business’ s activity
statements.
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x.
Medicare
levy
Requirement:
Taxpayers must pay a
Medicare levy of %2 of
their taxable income.
However,
if
the
employee’s
taxable
income is below a
certain threshold, the
levy may either be
reduced
or
the
employee
exempted
from paying the levy
How it affects a business’s
payroll operations:
The Medicare levy
must be included in
the
PAYG
amount
withheld
from
payments
to
employees, unless the
employee is exempt
from paying the levy.
Requirement:
How it affects a business’s
payroll operations:
Requirement:
Payments
of
the
Medicare levy must be
accurately recorded.
How it affects reporting
requirements:
Medicare
levy
payments included in
PAYG
withholding
amounts
must
be
reported
in
the
business’ s activity
statements.
xi.
Tax
Agent
Services Act
(TASA)
Requirement:
The Act sets out
qualifications
and
requirements
for
registered tax or BAS
agents.
How it affects a business’s
payroll operations:
Only individuals who
have
met
these
requirements
for
registered tax or BAS
agents must be in
charge of the business’
s payroll operations.
Requirement:
How it affects a business’s
payroll operations:
Requirement:
A BAS agent must
maintain records of
account such that the
registered
tax
practitioner
can
account to entitled
persons, on demand,
for any money or other
property held on trust.
How it affects reporting
requirements:
Maintaining complete
records of account
enables you to be able
to accurately report to
the client about their
money
and/
or
property and protects
you from unfounded
accusations,
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xii. Current industry and modern awards
Requirement:
Employees covered by
a
modern
award
should be given the
entitlements under the
award
How it affects a business’s
payroll operations:
Employees covered by
a
modern
award
should
have
their
minimum entitlements
as
stated
in
t
bargaining agreement
he awards be reflected
in the business’ s
payroll system
Requirement:
How it affects a business’s
payroll operations:
Requirement:
To
ensure
that
employees get the
entitlements
under
their industry award,
businesses are legally
required
to
keep
accurate and complete
time
and
wages
records and issue pay
slips to each employee.
How it affects reporting
requirements:
The employee’ s pay
slip should accurately
reflect the data in their
time
and
wages
records.
xiii. Current
enterprise
bargaining
agreements
Requirement:
The entitlements made
in
an
enterprise
bargaining agreement
cannot be lower than
that in the applicable
modern award.
How it affects a business’s
payroll operations:
When the business
sets out to create an
enterprise bargaining
agreement with its
employee, the business
must make sure that
the
entitlements
granted are not lower
than
that
in
the
modern award.
Requirement:
How it affects a business’s
payroll operations:
Requirement:
The
enterprise
bargaining agreement
must be documented
through writing and a
copy must be kept in
the
business’
s
records.
How it affects reporting
requirements:
The
proposed
enterprise agreement
must then be lodged
for approval by the
Fair Work Commission
within 14 days of the
agreement
being
made.
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xiv. Individual
Transitional
Employment
Agreement
(ITEA)
Requirement:
No new ITEAs can be
made.
However,
existing ITEAs must be
applied
until
terminated. How it affects a business’s
payroll operations:
Any
employees
covered by an ITEA
must
receive
the
entitlements set out in
the
ITEA,
unless
terminated by either
employee or employer.
Requirement:
How it affects a business’s
payroll operations:
Requirement:
If an employer and
employee decides to
terminate
the
agreement, it must be
documented through a
termination
agreement.
How it affects reporting
requirements:
The person covered by
the agreement must
apply to the Fair Work
Commission
for
approval
of
the
termination
agreement. Only after
approval
can
the
agreement
be
terminated.
xv. Australian
Workplace
Agreement
(AWA)
Requirement:
How it affects a business’s
payroll operations:
Requirement:
How it affects a business’s
payroll operations:
Requirement:
How it affects reporting
requirements:
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xvi. Annual
leaves
as
outlined in
leave
legislation
Specify the name of the legislation where the requirement can be found.
Requirement:
As per the National
Employment
Standards
(NES),
employees are entitled
to a minimum of
accumulated 4 weeks
of paid annual leave
for each year of
service.
How it affects a business’s
payroll operations:
If an employee takes
an annual leave, the
employee must still be
paid the employee’s
base pay rate for all
ordinary
hours
worked.
Requirement:
How it affects a business’s
payroll operations:
Requirement:
The business is obliged
to keep accurate and
complete records of
employee
leave
accruals. How it affects reporting
requirements:
Accurate and complete
records of employee
leave accruals enable
the
business
to
produce
accurate
reports (e.g. payslips,
payment summaries,
etc. ) of the employee’s
hours of work, wages,
etc.
xvii. Personal
leaves
as
outlined in
leave
legislation
Specify the name of the legislation where the requirement can be found.
Requirement: As per the NES, employees
are entitled to 10 days of
paid personal/ carer’s leave
per year. How it affects a business’s
payroll operations: If an employee takes a
personal leave, he must still
be paid his base pay rate for
all ordinary hours worked.
Requirement:
How it affects a business’s
payroll operations:
Requirement: The business is obliged to
keep accurate and complete
records of employee leave
accruals. How it affects reporting
requirements: Accurate
and
complete
records of employee leave
accruals enable the business
to produce accurate reports
(e.g.
payslips,
payment
summaries, etc.) of the
employee’ s hours of work,
wages etc.
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xviii.
Paid parental
leaves as outlined in leave legislation
Specify the name of the legislation where the requirement can be found.
Requirement: As per the Paid Parental
Leave Act 2010, eligible
employees who are the
primary carer of a newborn
or adopted child get up to 18
weeks leave paid at the
national minimum wage by
the government. How it affects a business’s
payroll operations: If an eligible employee takes
a paid parental leave, the
government
makes
the
necessary payment to the
employer. The employer is
required to pay this amount
to the employee,
Requirement:
How it affects a business’s
payroll operations:
Requirement: Parental leave payments
from the government must be
recorded accurately. How it affects reporting
requirements: Payslips in which parental
leave payments are reported
must include the following: - the gross and net amounts
of Parental Leave Pay and
the amount of income tax
deducted. if there are other payments
on
the
payslip,
this
information must be included
as well as the total gross, net
and income tax amounts.
the amount of any deduction
and the name and bank
details of the entity the
deduction was given to.
xix.
Long service leaves as outlined in leave legislation
Specify the name of the legislation where the requirement can be found.
Requirement:
As per the NES, an
employee is entitled to
long service leave in
accordance with their
applicable
pre-
modernised award if a
premodernised award
does not apply to an
employee,
then
agreement – derived
long
service
leave
entitlements will apply.
If
there
are
no
applicable awards and
agreements, State and
Territory long service
leave laws must be
followed.
How it affects a business’s
payroll operations:
If an eligible employee
takes a long service
leave or opts to collect
payment for untaken
long
service
leave
instead, all relevant
entitlements must be
followed, depending on
the
industrial
instrument
or
legislation
that
applies.
Requirement:
How it affects a business’s
payroll operations:
Requirement:
The business must
keep complete and
accurate
time
and
wages records since
long
service
leave
entitlements are based
on continuous service.
How it affects reporting
requirements:
Unused long service
leave can be claimed
as
payment
upon
termination and must
be reported in the
business’ s activity
statements.
The
record-
keeping
requirement
above
helps the business
accurately
report
amounts paid relating
to long service leaves.
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xx. Australian
Bureau
of
Statistics
(ABS) Act
Requirement:
The ABS Act sets one
of the functions of the
Australian Bureau of
Statistics
as
the
central
statistical
authority on a wide
range of economic,
social, population and
environmental matters
of
importance
to
Australia.
How it affects a business’s
payroll operations:
The business may use
statistical information
relating
to
the
community,
the
industry, the social and
economic climate from
ABS
to
improve
aspects of the payroll
system, e.g. salary
packages to address
social and economic
needs identified by
ABS.
Requirement:
How it affects a business’s
payroll operations:
There is no need to fill out
this section.
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9.
Listed below are Australian Taxation Office (ATO) requirements relating to payroll
systems:
a.
In 20-50 words, briefly describe each item. b.
Explain how each requirement is applied in establishing and maintaining payroll
systems.
Description
How it is applied in establishing and maintaining payroll
systems
i.
Australian
Business
Number (ABN)
It is a unique 11 digit
identifier assigned to each
Australian business. It is used
to identify each business when
dealing with ATO and other
government departments and
agencies as well as other
businesses.
A business must register for an ABN in
order to lodge and pay PAYG
installment and withholding taxes for
its employees.
An ABN is needed in order for a
business with a total annual taxable
wage
payment
exceeding
the
threshold to be able to lodge and pay
payroll tax.
A business must register for an ABN in
order to meet its super obligations for
eligible employees.
ii.
Payment
summary
In your explanation, include the different types
of payment summaries.
It is a document given by the
employer to the employee
summarising the employee’ s
total earnings during the
financial year
A business is required to give each of its
employees a payment summary.
At the end of each financial year a business must
lodge a PAYG withholding annual report,
including the following: - all payments made to
payees during the financial year. * the amounts withheld from those payments.
iii.
Employment
termination
payments
(ETPs)
In your explanation, include the two (2) types of ETPs.
They are specific payments
made to an employee when he
stops working for the buiness.
A payment must generally be made within 12
months of termination to qualify as an ETP
and receive concessional tax treatment .
Otherwise the payment is part of the
recipient’s assessable income and is taxed at
their marginal rates
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iv.
Tax
file
number (TFN)
declaration
It is completed before an
employee starts to receive
payments from a new payer .
This is where the employer
bases their calculations of
withholding amounts from
payments to the employee.
Each employee should complete a TFN
declaration
Employee TFN declarations should be lodged
with ATO.
If the employer lodges their TFN declaration
reports electronically, then the employee must
also complete an electronic TFN declaration
form.
If the employee completes a new, updated
declaration, it will override the previous one.
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10.
Outline the Tax Practitioners Board (TPB) requirements for BAS agents:
a.
registration requirements b.
scope of services relating to payroll systems
c.
documentation requirements relating to payroll systems
a.
Registration requirements for BAS agents
Add more answer fields as needed.
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b.
Scope of services relating to payroll systems
Add more answer fields as needed.
c.
Documentation requirements for BAS agents
Add more answer fields as needed.
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11.
Discuss the key requirements relating to payroll systems of the following taxation laws:
a.
PAYG Instalment (PAYGI) tax as outlined in A New Tax System (Pay As You Go) Act
1999
b.
PAYG Withholding (PAYGW) tax as outlined in A New Tax System (Pay As You Go)
Act 1999
c.
Fringe Benefits Tax Assessment Act 1986
as it relates to salary packaging
Each discussion must be 100-150 words.
a.
PAYG Instalment (PAYGI) tax as outlined in A New Tax System (Pay As You Go) Act 1999
b.
PAYG Withholding (PAYGW) tax as outlined in A New Tax System (Pay As You Go) Act 1999
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c.
Fringe Benefits Tax Assessment Act 1986
as it relates to salary packaging
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12.
Discuss the key aspects that you must consider when implementing the following routine
requirements in the payroll system:
award payments
salary amount
salary packaging
superannuation guarantee
superannuation reporting
Your discussion must:
include a short description of the requirement
be within 60-100 words
Routine requirements
Key aspects that must be considered in implementing it
i.
Award payments
are
minimum
payment
entitlements
prescribed
for
employees
of
a
certain industry or
occupation.
In maintaining the payroll system, the employee’ s pay entitlements as
outlined in the award must be followed. Must consider whether the business is covered by a registered enterprise
bargaining agreement or not. If an agreement applies, then the base of pay
rates must override payments prescribed in the award, unless the agreement
rates are lower than that in the award. Must consider whether the employee has an over award payment, an amount
in excess of the relevant minimum award wage which an employer may pay
for different reasons.
ii.
Salary amount
is the amount the
employee must be
paid for the hours of
work they render.
Must consider the employee’s agreed- upon annual salary as documented in
the employment contract. May include: minimum weekly wages, penalties, overtime, allowances,
annual leave holding.
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iii.
Salary packaging
also known as salary
sacrifice,
is
an
arrangement
between employee
and employer where
the employee pays
for some items or
services
straight
from his pre- tax
salary
- Must take in consideration whether the employee has arrangements for
salary packaging or salary sacrifice arrangement. - The business must pay fringe benefits tax on the benefits included in the
salary packaging. - Must take in consideration when the salary sacrificing arrangement was
made. It must have been before earning the income.
iv.
Superannuation
guarantee
is
a
compulsory
system
of
superannuation
support
for
employees, paid for
by employers.
Must consider the minimum SG contribution rate for the financial year as set
by ATO. Must consider the employee’s chosen super fund and must make super
payments to. If an employee has chosen to include super payments into their salary
sacrificing arrangement, the amount sacrificed is not subject to PAYG tax and
the business’ s SG payment obligations will be based on the employee’ s
reduced salary.
v.
Superannuation reporting
refers
to
the
reportable employer
superannuation
contributions
that
must be included in
the annual payment
summary given to
each employee.
Consider whether the business pays the following super contributions to the
employee and report theses in the employee’s payment summary: - additional contributions as part of an employee’ s individual salary package -
additional contributions under a salary sacrifice arrangement. - pre- tax amounts paid to an employee’ s super fund at the employee’s
direction, such as directing an annual bonus into super.
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13.
Discuss the key aspects that you must consider when implementing the following non-
routine requirements in the payroll system:
life benefit employment termination payment
death benefit employment termination payment
superannuation guarantee charge
Your discussion must:
include a short description of the requirement
be within 60-100 words
Routine requirements
Key aspects that must be considered in implementing it
i.
Life benefit employment termination payment
ii.
Death benefit employment
termination payment
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iii.
Superannuation guarantee
charge
is a payment made
when the employer is
unable
to
pay
minimum
super
guarantee for the
employee by due
date. The charges
includes: -
SG
shortfall
amounts calculated
on the employee’ s
salary wages. - interest on those
amounts
(currently
%10) - an administration
fee
(
$20
per
employee,
per
quarter)
Must consider whether the following applies and use the late payment offset
to reduce the amount of SGC the business must pay:
The business made the payment to the employee’ s super fund.
The business made the payment before the date the SGC assessment
was made.
The business lodged the late payment offset election with us within 4
years of employee’ s original SGC assessment date. Must consider whether the following applies and use the late payment as
prepayment of a future super contribution for the same employee:
The late payment is for the same employee
The start of the quarter is within 12 months after the payment date.
14.
Access Bigger Than Big Corporation’s Accounting Controls here
.
In the spaces provided below:
a.
Identify the name of one (1) policy relevant to the payroll system. b.
Summarise the procedures for the policy.
c.
In 30-60 words, explain how the policy and procedures affect payroll system
maintenance.
Name of policy relevant to the payroll
system
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Summary of procedures
How the policy and procedures affect
payroll system maintenance.
15.
Access Awesome Landscapes’s Accounting Policies and Procedures below.
Awesome Landscapes
In 30-60 words, discuss the structure of authority with regards payroll operations in the
organisation. Your discussion must be 30-60 words.
Guidance: Your response must include the names of the authorising personnel in the
organisation and their functions and responsibilities.
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Assessment Cover Sheet: Assessment Task 2 (AT2)
Student Detail
Student Name
Student Id:
Group No (If Applicable):
Assessment Details
Unit of Competency
FNSTPB402- Establish and Maintain Payroll System
Assessment Task
Case Study
Due Date
Date of Submission
Assessment Outcome Satisfactory □ Not Satisfactory □
Date
Assessor name
Assessor Signature and Date
Comments/Feedback
Student Plagiarism Declaration:
By submitting this assessment to the college, I declare that this assessment task is original and has not been copied or taken from another source except where this work has been correctly acknowledged. I have made a photocopy or electronic copy or photograph of my assessment task, which I can produce if the original is lost.
Assessor
Student
I declare that I have conducted a fair, valid, reliable and flexible assessment with this student, and I have
provided appropriate feedback. I also declare that I have undertaken the indicated assessment integrity checks I have received, discussed and accepted my result as above for this task and I am aware of my appeal rights. Page: 53 of 97
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Google check for plagiarism
Yes
No
Check for Copying/Collusion
Yes
No
Check for Authenticity (own work)
Yes
No
Cheating or use of model answers
Yes
No
Signature: ........................................................
Date: ................................................................
Signature: ...........................................
Date: ................................................
CASE STUDY
Part A: North Park Stationery Supplies
Assessment Details
This part of the assessment requires you to answer written questions and undertake
tasks in preparation for the monitored assessment in Part B. Refer to the scenario below
to complete the tasks that follow.
Case Study Part A: North Park Stationery Supplies is divided into four (4) tasks:
I.
Establish Payroll Requirements
II.
Complete Preparations for the New Payroll System
III.
Complete Manual Wage Calculation
IV.
Handle Payroll Enquiry
Read the instructions in this project carefully before proceeding.
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North Park Stationery Supplies
North Park Stationery Supplies is a recently opened stationery store in Cascade Peak.
The store has been in operation for roughly a year now.
Below are the policies and procedures the business has developed for accounting and
bookkeeping.
***
POLICIES AND PROCEDURES
The North Park Stationery Supplies financial policy and procedure manual provides the
policies and procedures for financial transactions within the business which must be
followed by all staff. It also provides guidelines North Park Stationery Supplies will use to
administer these policies, with the correct procedure to follow.
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These policies and procedures apply to all employees.
1.
Accounting System
The business keeps an accrual set of books using MYOB, accounting for debtors and creditors.
When data is entered, the source document must be checked for validity, and the account code
and initials of who entered the data is required on the source document.
2.
General Ledger
A chart of accounts has been drawn up in consultation with the accountant. Accounts are not to be
added to unless there is no other account which can be used and approval has been given by the
Supervisor. If accounts are added, care must be taken so that the new accounts are on the correct
level so that financial reports are accurate.
3.
Electronic Filing
Copies of all reports printed are stored electronically. The file naming Protocol will be in the
following format: “
FNSTPB402-Submission [number]-Printout-[description]
.”
4.
Errors and Discrepancies
It is essential that the books of the business are accurate and correct. Any discrepancies should be
reviewed by Malcolm Stewart. Where necessary, entries should not be deleted (e.g. dishonoured
cheque). The entry in your data file should be adjusted as need be. If an incorrect tax code has
been used in a previous BAS, a journal entry is recorded to correct this error.
5.
Data Security
The MYOB accounting file is backed up each afternoon so that in the event of a fire, theft or
vandalism, a copy of the data file is off the premises. A backup of the data file is also made by the
bookkeeper.
All documents no longer required in the business must be shredded for security reasons, never put
in the rubbish bin.
MYOB security settings have been established to restrict access to staff depending on their level of
responsibility.
The Administrator has access to the whole system with no restrictions.
All other staff are restricted from accessing any payroll information.
PAYROLL MANAGEMENT POLICY AND PROCEDURES
1.
Introduction
This payroll management policy and procedure manual is designed to provide
payroll staff and contractors direction as to the business rules and regulations for
staff and in staff management and operations. The aim of this procedure is to
enable staff to promptly find answers to payroll issues regarding pay, employee
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entitlements and conditions of the workplace. It will help staff to be better
informed and equip staff with resources needed to complete their payroll
responsibilities.
1.1. Payroll Administration Tasks
1)
Add new employees and provide New Employee induction kits
2)
Collate and process timesheets
3)
Process fortnightly pays
4)
Issue pay slips
5)
Monitor and process annual leave applications
6)
Monitor and process personal leave and medical certificates
7)
Monitor long services leave 8)
Prepare and issue payment summaries
9)
Manage employee contracts
10)
Manage employee queries
2.
Payroll Instructions
2.1.
Payroll Business Guidelines
2.1.1.
Privacy
Payroll administrators are required to maintain confidentiality over all employee
information and keep it secure. Refer to basic principles of the Privacy Act 1988.
2.1.2.
Tax File Numbers
Privacy for the TFN is the utmost importance and Tax Declaration Forms should be
stored in a secure place and not accessed by unauthorised personnel.
As a recipient of a TFN, payroll administrator must ensure that access to records
containing TFN information is restricted to individuals who have authority to
access them.
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2.1.3.
Standard Work Week
Full-time staff work a standard 38-hour week, as per the National Employment Standards. This
consists of 8 work hours on Mondays and 7.5 work hours from Tuesday to Friday
.
Overtime is calculated on time worked in excess of 38 hours in line with the Modern Award. 2.1.4.
Wages and Salaries
Payroll information will not be provided to any other staff or third parties (such as banks) unless
prior approval has been provided by the employee to release such information.
A registered enterprise bargaining agreement between North Park Stationery Supplies and its
employees is in place (‘North Park Stationery Supplies Enterprise Agreement’). However, this will
be effective in the next year.
The agreement sets the weekly wage of all employees who are not managers or higher income
employees to 50 dollars more than the minimum weekly wage prescribed by the modern award
that applies to them.
Individual employment agreements are also in place and can be found in the individual’s employee
records in the HR files. Care must be taken that all applicable entitlements based on awards and employment agreements
are followed in the payroll.
2.1.5.
Allowances and deductions
Allowances
o
Car allowance paid at 0.78c per km
o
Meal allowance paid at $15.14 as per the Clerks Private Sector Award 2010.
Deductions
o
Child Support – both employee and Department of Human Services DHS must be
informed of changes to Salaries and Wages.
o
Additional Superannuation as authorised by the employee.
2.1.6.
Overtime
Overtime must be approved by the Manager before it is performed and signed off on the
employee’s time sheets fortnightly.
2.1.7.
Annual Leave
Full -time permanent employees are entitled to a four (4) week annual leave a year as per NES
Standards. Permanent part-time employees are entitled to pro-rata based on their hours worked.
Permanent staff being paid an hourly rate entitled to annual leave are also entitled to leave
loading which is paid at 17.5%.
2.1.8.
Personal Leave – Medical Certificate required.
Ten (10) days’ Personal Leave per annum including two (2) days carer’s leave is paid to full-time
staff as per NES standards. Permanent part-time employees are entitled to pro-rata based on their
hours worked.
Business has a legal right to ask employees for evidence supporting their absence therefore;
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medical certificates must be provided before leave is paid.
2.1.9.
Long Service Leave
Long Service leave is accrued as per NES Standards and the relevant State/ Territory legislation.
2.1.10.
Other Leaves
Appropriate documentation and notice is required for Paid Parental Leave, Leave Without Pay and
Long Service Leave.
2.1.11.
Pay Slips
Pay slips must be issued to each employee on the day of pay day. The company chooses to email
pay slips to private email addresses.
All employees are to sign and initial authority for pay slips to be emailed.
At the end of the financial year, each employee is given a payment summary containing their total
payments for the year and all amounts withheld from these payments.
2.1.12.
Superannuation
Employees are entitled to superannuation of 9.5% of ordinary time’s earnings. Superannuation
begins to accrue once an employee has earned $450 in any month and is payable on every dollar
earned as ordinary time earnings.
The companies default superannuation fund is Care Superannuation. However, the employee can
elect to choose between Care Super or Sunsuper. The standard choice form is attached in the next
section. 2.2.
New Staf
2.2.1.
Essential Documentation for New Staf
1)
Fair Work information sheet (Fair Work information sheet)
2)
Employment Contract
3)
Superannuation choice form (
Superannuation Standard Choice Form
)
4)
Annual leave Request Application
5)
Employee information forms to outline employee details and Bank Details
6)
TFN Declaration
7)
Employee Authority to email payslip
8)
Employee authority to email payment summary
9)
Emergency contact details.
Copies of signed employee documents are filed in the Employees HR files.
2.2.2.
Award/Contract/Agreement
Modern Awards are used in the business.
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Clerical Clerks Private Sector Award 2010 2.2.3.
Changes to Payroll deductions.
Any changes to the employee’s pay’s must be notified in writing. This includes but is not limited to
voluntary superannuation contributions, changes to the tax to be withheld and child support
payments. Copies of any source documents are to be filed in the employee’s HR file.
3.
Pay run Process
a.
Pay Run Cycle.
The business pay cycle is fortnightly.
b.
Pay run Process
Check for New staff.
Check for any employee detail changes.
Check for Annual, personal or Long Service leave, check against the
timesheets.
Calculate the ordinary hours and the Overtime hours to be paid on the
timesheets.
Process authorised timesheets.
Run Pay run.
Print the payroll reports for approval.
Create the electronic payment file and write out any cheques that need to
be done for payroll purposes. Organise for the cheques to be signed.
Email pay slips.
c.
Payroll Payment Plan
Payroll officer makes the payment
Provide business manager fortnightly pay run reports
Gain Approval from the Manager to make payments
Make payments via online banking. Make alternative arrangement for
anyone that isn’t paid electronically.
Email business owner receipts and details of payments. d.
Setting pay rates
Staff review and change of pay rates must be controlled and approved by the
Manager. Any change that needs to be made to the computerised system are
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completed before the next payroll cycle is processed.
e.
Payroll Timeframes
Payruns are from Monday to the following Sunday fortnight. The
fortnightly timesheets must be submitted by 10:00am on the Monday
immediately after the fortnight end.
Payroll must be prepared and processed on the same day as the
timesheets are submitted. Payments will be released on the same day.
Payslips must be distributed on the Monday that timesheets are processed
and payments are released.
Payroll enquiries must be answered within 24 hours, provided that the
next day is a business day.
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4.
Payroll Reconciliation
Payroll accounts are reconciled on a monthly basis using the following reports:
Payroll summary for the period
Profit and Loss Statement
Superannuation Accrual by fund for the period
Account transactions Accrual for the period
Payroll register summary for period
Balance sheet
Payroll reconciliation checklist for the period
4.1.
Wages Reconciliation Any errors identified are to be corrected prior to the BAS or IAS being lodged.
Refer to section 5 for lodgement dates. 4.2.
Superannuation Any errors are to be identified prior to lodgement with the individual funds.
Payment is to be made by the 25th of the month following the reporting month.
4.3.
Payroll Liability Accounts
All other payroll liability accounts are to be reconciled and any errors are to be
corrected and payments are to be made by the 25th of the month following the
reporting month.
5.
Payroll Report 5.1.
Payment Summaries
Are issued annually to employees electronically via email. The EMPDUPE File
created by the software is submitted to the Australian Taxation Office (ATO) as per
the ATO’s guidelines.
5.2.
GST and BAS reporting
The business has an Australian Business Number (ABN) and is registered for GST,
reporting quarterly on an ACCRUAL BASIS. PAYROLL is reported on a monthly
basis.
Instalment Activity Statements are lodged and paid monthly by the 21st of
the month following the end of the reporting month.
Business Activity Statements are lodged and paid quarterly by the 28th of
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the month following the end of the reporting quarter.
The company uses an “ATO Liabilities Payable” clearing account as part of its GST
lodgement reconciliation process. IAS’s and BAS’s to be paid from this account at the paid
form and date of the end of the reporting month. Payment to the Australian Taxation
Office is allocated to the ATO Liabilities Payable clearing account.
6.
Record-keeping
The following procedures must be followed when maintaining the payroll system, in line with
record-keeping and reporting requirements of relevant legislation:
Records must not be false or misleading.
All payments to employees and amounts withheld from these are immediately and
accurately recorded in the payroll system.
All leaves taken by employees are immediately and accurately recorded in the payroll
system.
All source documents are photocopied, with one (1) copy of the document filed in the HR
files and one (1) copy kept in the back-up files.
All claims to workers compensation are photocopied, with one (1) copy of the document
filed in the HR files and one (1) copy kept in the back-up files.
7.
References
ATO – Guide for employers
ATO – Reporting on PAYG Withholdings
Fair Work – Modern Awards
For the purpose of this assessment, this scenario is based in your State/Territory and the financial year is
2016-2017.
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Task 1: Establish Payroll Requirements
SCENARIO
You are a registered BAS agent providing accounting and bookkeeping services on a
contractual basis to North Park Stationery Supplies. They used to have a manual payroll
system; however, the owner has recently decided to migrate to a new computerised
payroll system using MYOB software. You have been tasked with establishing the new
payroll system and maintaining it.
Based on this scenario, answer the questions below.
1.1
Based on the Organisational Chart provided in the beginning of the Assessment Details and North
Park Stationery Supplies’s Policies and Procedures, discuss the structure of authority in the
organisation. Your discussion must be 30-60 words.
Guidance: Your response must include the names of the authorising personnel in the organisation
and their functions and responsibilities.
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1.2
In 100-150 words, discuss the scope of payroll services you are allowed to provide in establishing and
maintaining North Park Stationery Supplies’s new payroll system.
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1.3
Based on your responses in Task 1.1, discuss one (1) aspect of establishing payroll requirements for
which you will need independent expert advice.
Your response must:
be within 100-150 words.
include at least one (1) payroll requirement
E.g. National Employment Standards, Fair Work Act, Taxation laws relevant to payroll
systems, Modern awards and enterprise bargaining agreements.
include the independent expert that can provide advice regarding the requirement
Expert independent advice must be given by an individual or organisation independent of
the parties with interests in the matter (e.g. client, employees of the organisation, etc.). Sources of independent expert advice may include but are not limited to:
o
Financial advisers
o
Registered tax agents
o
Government agencies like ASIC, the Fair Work Ombudsman
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1.4
Refer to North Park Stationery Supplies’s Policies and Procedures to complete the table below.
Identify the following requirements related to setting up details in the payroll system for individual
employees:
One (1) modern award
Any State/Territory-based differences included in the modern award
Two (2) employment agreements
Modern award
State/Territory-based differences
included in the modern award
Employment agreements
i.
ii.
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1.5
You are required to complete the tasks in this case study according to the organisation timeframes
outlined in Section 3.5 of North Park Stationery Supplies's Policies and Procedures.
Answer the questions below and ensure to follow the timeframes you defined.
i.
Deadline for fortnightly timesheets
Specify the day and time.
ii.
Date payslips must be distributed fortnightly
iii.
Deadline for enquiries about payroll.
1.6
Complete the tasks below:
a.
In the table below, identify one (1) legislative requirement and one (1) organisational
requirement relevant to employment termination.
b.
For each requirement identified, discuss the following:
how the requirement is applied in the termination process
how the requirement is applied in processing termination payments
Each discussion must be 60-100 words.
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Requirement
How it is applied in termination
process
How it is applied in processing
termination payments
Legislative Requirement:
Organisational Requirement:
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Task 2: Complete Preparations for New Payroll System
2.1
The following individuals are employed by North Park Stationery Supplies. Below are excerpts from
their individual employee records as kept in the HR files.
Use the information provided below to develop your category plan in Task 2.2. Guidance for Part B: When entering into MYOB, please include the appropriate classification and
default expense account for the employees. Please ensure that you have this information available
to enter into the MYOB data file in Task B of this assessment.
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Version: 1.0
Responsibility: Training Manager
Date Created: June 2018
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Version: 1.0
Responsibility: Training Manager
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FNSTPB402
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Refer to the 2010 Clerk Awards for the employees’ hourly rates. Click here
to view the
document. (Use the following username: newusername, password: newpassword
.)
2.2
At the centre of a payroll system are payroll categories, which need to be carefully planned to ensure
that employees are paid correctly. Using the employee data provided, the Clerk Awards Private
Sector Pay Guide and the requirements in Section 2.1.4 Wages and Salaries of the policies and
procedures, create a category plan you can use in your payroll data file. (Please keep and use this plan when you do the Part B assessment.)
Malcolm John
Stewart, Manager
(PF)
Hannah Maureen
Scofield, Clerical
Award Level 1
Year 2 (PF)
Jodie Maree
Staford, Clerical
Level 5 (C)
Edward Leonard
Morgan, Clerical
Level 4 (PP)
Category
WAGES
17.5% Leave Loading
Base Hourly
Base Salary
Car Allowance at 0.78c per km
Meal Allowance at $15.14
Holiday Leave Hourly
Holiday Leave Salary
Personal Leave Hourly
Personal Leave Salary
Public Holiday Unused Holiday Termination
x1.5 overtime
x2.0 overtime
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Superannuation
Super Guarantee (Sunsuper)
Super Guarantee (CARE)
Super Additional $60 (CARE) ENTITLEMENTS
Holiday Leave Accrual Hourly
Holiday Leave Accrual Salary
Personal Leave Accrual Hourly
Personal Leave Accrual Salary
DEDUCTIONS
Child Support TAXES
PAYG Withholding
2.3
Complete the table below.
a.
Look up the weekly rate in the Clerical Awards, then calculate the hourly. Note that one of the
employees is a casual staff member.
b.
Calculate the accrual rates for employee entitlements on a fixed number of hours per pay
period for salaried staff or on a percentage basis for the Part-time employees. All accrual rate calculations should be recorded with four (4) decimal places. Use 52 weeks in a
year, 38 working hours a week, and assume that the employees are paid fortnightly (26 pays
per year). Refer to the business’s policies and procedures and the excerpts of employee records found in
Task 2.1 and 2.2 to complete the table.
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Stewart
Scofield
Staford
Morgan
i.
Hourly rate
n/a
$ $ $ ii.
Annual leave at four (4) weeks in a year
iii.
Personal leave at 10 days a year
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2.4
You have not yet obtained the authorisation from the owner to start setting up the new
computerised payroll system, as the software and equipment you will use are not ready yet. In the
meantime, the manager, Malcolm Stewart, has instructed you to use the manual payroll system in
recording employee information. These will be recorded in the computerised payroll system once
you are given the go signal by management.
The following is information for the first fortnight’s pay run from the business’s employee scheduling
system:
Steps to take:
a.
Locate the timesheets on the following pages.
b.
Complete the timesheets for the first fortnight’s pay run from 29th May – 11th June by
manually recording the information from the employee scheduling system in the business’s
timesheets. Guidance:
Please enter any meal allowance as a count number (not dollars).
Into the Type column please use the abbreviations (A)nnual Leave, (P)ersonal Leave,
(PH) Public Holiday.
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Time Sheet
North Park Stationery
Employee Name:
Hannah Scofield
Hourly
Rate:
$
Fortnight
Ending:
11th
June
2017
Leave
Type:
A = Annual Leave P = Personal Leave
PH = Public Holiday
Day
Start
Finish
Break
Total
Ord
x1.5
x2.0
Leave
Type
Mon
8:00
5:00
1:00
8
Tue
8:30
5:00
1:00
7.5
Wed
Thu
Fri
8:30
5:00
1:00
7.5
Mon
8:00
5:00
1:00
8
Tue
8:30
5:00
1:00
7.5
Wed
8:30
5:00
1:00
7.5
Thu
8:30
5:00
1:00
7.5
Fri
8:30
5:00
1:00
7.5
Totals
Car Allowance:
65
KMS
Meal Allowances:
Employee Certification:
I certify that the above hours are true and correct
Employee Signature: H Scofield Supervisor Certification:
I certify that the hours shown on this time sheet are true and correct
Supervisor’s Signature: Malcolm Stewart
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Time Sheet
North Park Stationery
Employee Name:
Jodie Stafford
Hourly
Rate:
$
Fortnight
Ending:
11th
June
2017
Leave
Type:
A = Annual Leave P = Personal Leave
PH = Public Holiday
Day
Start
Finish
Break
Total
Ord
x1.5
x2.0
Leave
Type
Mon
8:00
5:00
1:00
8
Tue
8:30
5:00
1:00
7.5
Wed
Thu
8:30
5:00
1:00
7.5
Fri
8:30
5:00
1:00
7.5
Mon
8:00
5:00
1:00
8
Tue
8:30
5:00
1:00
7.5
Wed
8:30
5:00
1:00
7.5
Thu
Fri
Totals
Car Allowance:
KMS
Meal Allowances:
Employee Certification:
I certify that the above hours are true and correct
Employee Signature: H Scofield Supervisor Certification:
I certify that the hours shown on this time sheet are true and correct
Supervisor’s Signature: Malcolm Stewart
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Time Sheet
North Park Stationery
Employee
Name:
Edward Morgan
Hourly
Rate:
$
Fortnight
Ending:
11th
June
2017
Leave
Type:
A = Annual Leave P = Personal Leave
PH = Public Holiday
Day
Start
Finish
Break
Total
Ord
x1.5
x2.0
Leave
Type
Mon
8:00
5:00
1:00
8
Tue
8:30
5:00
1:00
7.5
Wed
8:30
5:00
1:00
7.5
Thu
8:30
5:00
1:00
7.5
Fri
Mon
Tue
8:30
5:00
1:00
7.5
Wed
8:30
6:00
1:00
8.5
Thu
8:30
7:30
1:30
9.5
Fri
Totals:
Car Allowance:
KMS
Meal Allowances:
Employee Certification:
I certify that the above hours are true and correct
Employee Signature: J Staford Supervisor Certification:
I certify that the hours shown on this
time sheet are true and correct
Supervisor’s Signature: Malcolm Stewart
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2.5
The following is information for the second fortnight’s pay run from the business’s employee
scheduling system:
Steps to take:
a.
Locate the timesheets on the following pages.
b.
Complete the timesheets for the second fortnight’s pay run from 12th June - 25th June by
manually recording the information from the employee scheduling system in the business’s
timesheets.
Guidance: Jodie Stafford, North Shore’s bookkeeper, completed Edward Morgan’s timesheet for
you, as she is more familiar with Edward’s individual employment agreement.
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Time Sheet
North Park Stationery
Employee Name:
Hannah Scofield
Hourly
Rate:
$
Fortnight
Ending:
11th
June
2017
Leave
Type:
A = Annual Leave P = Personal Leave
PH = Public Holiday
Day
Start
Finish
Break
Total
Ord
x1.5
x2.0
Leave
Type
Mon
8:00
5:00
1:00
8
Tue
8:30
5:00
1:00
7.5
Wed
8:30
5:00
1:00
7.5
Thu
8:30
5:00
1:00
7.5
Fri
8:30
5:00
1:00
7.5
Mon
8:00
5:00
1:00
8
Tue
8:30
5:00
1:00
7.5
Wed
Thu
8:30
5:00
1:00
7.5
Fri
8:30
5:00
1:00
7.5
Totals
Car Allowance:
82
KMS
Meal Allowances:
Employee Certification:
I certify that the above hours are true and correct
Employee Signature: H Scofield Supervisor Certification:
I certify that the hours shown on this time sheet are true and correct
Supervisor’s Signature: Malcolm Stewart
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Time Sheet
North Park Stationery
Employee Name:
Jodie Stafford
Hourly
Rate:
$
Fortnight
Ending:
11th
June
2017
Leave
Type:
A = Annual Leave P = Personal Leave
PH = Public Holiday
Day
Start
Finish
Break
Total
Ord
x1.5
x2.0
Leave
Type
Mon
8:00
5:00
1:00
8
Tue
8:30
5:00
1:00
7.5
Wed
Thu
8:30
5:00
1:00
7.5
Fri
8:30
5:00
1:00
7.5
Mon
8:00
5:00
1:00
8
Tue
8:30
5:00
1:00
7.5
Wed
Thu
Fri
Totals
Car Allowance:
KMS
Meal Allowances:
Employee Certification:
I certify that the above hours are true and correct
Employee Signature: H Scofield Supervisor Certification:
I certify that the hours shown on this time sheet are true and correct
Supervisor’s Signature: Malcolm Stewart
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Time Sheet
North Park Stationery
Employee
Name:
Edward Morgan
Hourly
Rate:
$
Fortnight
Ending:
25th
June
2017
Leave
Type:
A = Annual Leave P = Personal Leave
PH = Public Holiday
Day
Start
Finish
Break
Total
Ord
x1.5
x2.0
Leave
Type
Mon
8:00
5:00
1:00
8
8
Tue
8:30
5:00
1:00
7.5
7.5
Wed
8:30
5:00
1:00
7.5
7.5
Thu
8:30
5:00
1:00
7.5
7.5
Fri
Mon
8:00
5:00
1:00
8
8
Tue
8:30
5:00
1:00
7.5
7.5
Wed 8:30
12:00
3.5
4
7.5
PH
Thu
8:30
5:00
1:00
7.5
7.5
Fri
Totals:
53.5
3.5
Car Allowance:
KMS
Meal Allowances:
Employee Certification:
I certify that the above hours are true and correct
Employee Signature: E Morgan Supervisor Certification:
I certify that the hours shown on this
time sheet are true and correct
Supervisor’s Signature:Malcolm Stewart
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Task 3: Complete Manual Wage Calculation
For this part of the assessment, you are required to manually complete the wage calculations for the first
fortnight for Hannah Scofield, Jodie Stafford and Edward Morgan. This is to put emphasis on the
importance of knowing how to compute pays manually. Steps to take:
1.
Locate the tables for each employee on the following pages. Use this to document your wage
calculations for each employee.
2.
Using the time sheets completed in Task 2.3 of this assessment, manually complete the wage
calculations for the first fortnight for Hannah Scofield, Jodie Stafford and Edward Morgan.
Use the following documents to complete this task:
Fortnightly Tax Table 2016-2017
HELP/SSL/TSL Fortnightly Tax Table 2016-2017
Follow the guidelines below in completing the wage calculations.
Guidelines:
Total Gross Pay is calculated by adding Ordinary Hours, Overtime, Personal Leave, Annual Leave,
Annual Leave Loading and Public Holiday payments.
Obtain PAYG Withholding figures from the Fortnightly Tax Table (NAT 1006) for Tax Free Threshold
and No Tax Free Threshold.
For the PAYG Withholding figure for an individual with Tax Free Threshold + HECS + HELP, add the
figures from the Fortnightly Tax Table and the HELP/SSL/TSL Fortnightly Tax Table. Indicate which items are included in calculating PAYG Withholding figures by writing ‘Yes’ under
the column Tax. Otherwise, write ‘No.’
E.g. Payments for ordinary hours worked are included in this calculation and must be marked ‘Yes’
under the column for Tax. Allowances are not included in this calculation and must be marked
‘No’ under the column for Tax.
Net Wage is computed by adding the Total Gross Pay to Allowances (Meal or Car) and deducting
PAYG Withholding and Child Support amounts.
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Superannuation figures are computed by multiplying the total of Ordinary Hours, Overtime,
Leaves and Holidays by 9.5%. Note that overtime payments are not included in calculating superannuation contributions.
Indicate which items are included in calculating superannuation contributions by writing ‘Yes’
under the column Super.
E.g. Payments for ordinary hours worked are included in this calculation and must be marked ‘Yes’
under the column for Super. Overtime payments and allowances are not included in this
calculation and must be marked ‘No’ under the column for Super.
HANNAH SCOFIELD Tax-Free Threshold
Qty
Category
Rate
Tax
Super
Value
Hours Ordinary Time @
Hours Overtime x1.5
Hours Overtime x2.0
Hours Personal Leave @
Hours Annual Leave @
Meal Allowance
Kms Car Allowance
Taxed
TOTAL GROSS:
For Super
PAYG Withholding:
Superannuation on Wages:
NET WAGE
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JODIE STAFFORD
No Tax-Free Threshold Qty
Category
Rate
Tax
Super
Value
Hours Ordinary Time @
Hours Overtime x1.5
Hours Overtime x2.0
Hours Personal Leave @
Hours Annual Leave @
Meal Allowance
Kms Car Allowance
Super payable after tax Taxed
TOTAL GROSS:
For Super
PAYG Withholding:
Superannuation on Wages:
NET WAGE:
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EDWARD MORGAN Tax-Free Threshold
Qty
Category
Rate
Tax
Super
Value
Hours Ordinary Time @
Hours Overtime x1.5
Hours Overtime x2.0
Hours Personal Leave @
Hours Leave Loading Hours Annual Leave @
Meal Allowance
Kms Car Allowance
Taxed
TOTAL GROSS:
For Super
PAYG Withholding:
Superannuation on Wages:
NET WAGE:
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MALCOLM STEWART Tax Free Threshold + HECS + HELP
Qty
Category
Rate
Tax
Super
Value
Hours Ordinary Time @
Child Support Hours Overtime x2.0
Hours Personal Leave @
Hours Annual Leave @
Meal Allowance
Kms Car Allowance
HECS Debt (672 PAYG +
158 HECS) Taxed
TOTAL GROSS:
For Super
PAYG Withholding:
Superannuation on Wages:
NET WAGE:
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Task 4: Handle Payroll Enquiries
4.1
Enter your email address in the link below to access the payroll enquiries received by the
department:
Payroll Enquiry
You will receive an email with the most recent enquiry from the organisation.
Take a screenshot of the response email and attach it in the space provided below. Your screenshot
must clearly show the date and time
you received the email.
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4.2
In the space provided below, write an email to Edward, responding to his enquiry.
Ensure that your response is organised and has a logical sequence.
To
edward.m@yourdomain.com
From
Subject
Message
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4.3
For this part of the assessment, you are required to roleplay a discussion with Hannah and Edward
regarding their enquiries.
You will require access to:
two (2) volunteers to assume the following roles:
o
Hannah Scofield
o
Edward Morgan
video recording device
a safe place to conduct the roleplay
Steps to take:
a.
Locate the Discussion Notes
on the following pages. Provide each volunteer with a copy of the Discussion Notes
. Have everyone review the
requirements outlined in the Discussion Notes
as you are required to demonstrate all of the
requirements in the role play.
b.
Locate the Assessor Checklist
on the following pages.
Review the requirements outlined in the Checklist before the role play. You are required to
demonstrate all of the requirements outlined in the Checklist.
c.
Gather your volunteers and conduct your roleplay. Document your discussion through a video
recording. Your video recording must not be longer than ten (10) minutes.
d.
Save and submit the video recording using the filename:
FNSTPB402-Part A-Roleplay Discussion
As shown below:
FNSTPB402-Part A-Roleplay
Discussion.avi
Take note that the submissions in this Task must be sent within 24 hours of receiving the
response email from Task 4.1.
Discussion Notes:
a.
For Hannah and Edward:
Hannah and Edward will open the roleplay discussion by presenting their
enquiries.
Edward must ask you about entering a Salary Sacrificing arrangement as
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detailed in the response email.
Hannah must ask you the procedures that must be followed if she wants to
avail of Time Off In Lieu (TOIL) for her planned leave.
b.
Candidate must respond to Hannah’s enquiry with the following:
Refer her to the HR department, as TOIL procedures are out of the scope of
payroll services you are allowed to provide.
c.
Candidate must respond to Edward’s enquiry with the following:
your responses to his enquiry in the email you sent him in Task 4.2.
ASSESSOR CHECKLIST
(for the Assessor’s use only)
During the discussion, the candidate…
Yes
No
Comments
1.
stated their name and the unit for which
they are being assessed.
☐
☐
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2.
clearly articulated their responses using
clear language.
E.g. using simple, plain language, avoiding
the use of jargon and overly technical
words, avoiding vague communication.
☐
☐
3.
used a professional tone to explain
responses.
☐
☐
4.
spoke slowly, using the appropriate pace to
respond to enquiries.
☐
☐
Other comments:
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WORKBOOK CHECKLIST
When you have completed assessing the assessment workbook, review the candidate’s
submission against the checklist below:
The candidate has completed all the assessments in the workbook and has
submitted all of the required evidence:
Knowledge Assessment
Case Study
Part A: North Park Stationery Supplies
o
Task 1: Establish Payroll Requirements
o
Task 2: Complete Preparations for the New Payroll System
o
Task 3: Complete Manual Wage Calculation
o
Task 4: Handle Payroll Enquiries
The candidate has submitted all of the following evidence:
This completed workbook
Cover Sheet (Assessment Workbook Cover Sheet signed and scanned)
Video recording of role play activity
IMPORTANT REMINDER
Candidates must achieve a satisfactory result to ALL assessment tasks to be awarded
COMPETENT for the units relevant to this cluster.
To award the candidate competent in the units relevant to this subject, the candidate
must successfully complete all the requirements listed above according to the prescribed
benchmarks.
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Overall Marking Form (For the Assessor’s Use Only)
OVERALL MARKING RESULT FORM (For the Assessor’s Use Only)
Assessment Details
Candidate’s Name:
RTO Name
RTO Contact Number
RTO Email Address
Assessor’s Name:
Subject
Establish and Maintain Payroll Systems Part A
Unit(s) of Competency
FNSTPB402 Establish and maintain payroll systems
FNSTPB402 Establish and maintain payroll systems
Knowledge Assessment S
NYS
Question Item 1
Question Item 2
Question Item 3
Question Item 4
Question Item 5
Question Item 6
Question Item 7
Question Item 8
Question Item 9
Question Item 10
Question Item 11
Question Item 12
Knowledge Assessment S
NYS
Question Item 13
Question Item 14
Question Item 15
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Question Item 16
Case Study Part A
S
NYS
Task 1
Question Item 1.1
Question Item 1.2
Question Item 1.3
Question Item 1.4
Question Item 1.5
Question Item 1.6
Task 2
Question Item 2.1
Question Item 2.2
Question Item 2.3
Question Item 2.4
Question Item 2.5
Task 3
Task 4
Question Item 4.1
Question Item 4.2
Question Item 4.3
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This checklist will guide you in authenticating the signatures provided by the candidate in their assessment workbook and evidence submissions.
Read each checklist item and tick YES only if you confirm that the item is a true and accurate reflection of the signature authentication you have conducted.
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FNSTPB402
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I declare that the results recorded in this Assessment Cluster Final Result Record are a true
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Wage and Tax Statement Data on Employer FICA Tax
Ehrlich Co. began business on January 2, 20Y8. Salaries were paid to employees on the last day of each month, and social security tax, Medicare tax, and federal
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Cullumber Co. has the following transactions related to notes receivable during the last 2 months of the year. The company does not make entries to
accrue interest except at December 31.
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Nov. 1 Loaned $53,400 cash to C. Bohr on a 12-month, 9% note.
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Dec. 11 Sold goods to K. R. Pine, Inc., receiving a $5,400, 90-day, 8% note.
16 Received a $9,600, 180-day, 8% note to settle an open account from A. Murdock.
31 Accrued interest revenue on all notes receivable.
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Quick ratio
Adieu Company reported the following current assets and current liabilities for two recent years:
Dec. 31, 20Y4 Dec. 31, 20Y3
Cash
$830
$1,090
Temporary investments
1,200
1,500
Accounts receivable
820
910
Inventory
2,100
2,500
Accounts payable
1,900
2,500
a. Compute the quick ratio on December 31 for each year. Round to one decimal place.
20Υ4
20Υ3
Quick Ratio
b. Is the quick ratio improving or declining?
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Entries for notes payable
Bennett Enterprises issues a $660,000, 45-day, 9%, note to Spectrum Industries for merchandise inventory.
Assume a 360-day year. If required, round your answers to the nearest dollar.If an amount box does not require an entry, leave it blank.
a. Journalize Bennett Enterprises' entries to record:
1. the issuance of the note.
2. the payment of the note at maturity.
2
b. Journalize Spectrum Industries' entries to record:
1. the receipt of the note.
2. the receipt of the payment of the note at maturity.
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Kieso, intermeaiate ACCounting, 16e
INTERMED. ACCOUNTING (ACC 31I0/-
Assignment
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CALCULATOR
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PRINTER VERSION
BACK
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Exercise 16-23
Your answer is partially correct. Try again.
On June 1, 2015, Sage Company and Pronghorn Company merged to form Stellar Inc. A total of 876,000 shares were issued
to complete the merger. The new corporation reports on a calendar-year basis.
On April 1, 2017, the company issued an additional 637,000 shares of stock for cash. All 1,513,000 shares were outstanding
on December 31, 2017.
Stellar Inc. also issued $600,000 of 20-year, 8% convertible bonds at par on July 1, 2017. Each $1,000 bond converts
to 44 shares of common at any interest date. None of the bonds have been converted to date.
Stellar Inc. is preparing its annual report for the fiscal year ending December 31, 2017. The…
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Exercise 17-22
Whispering Company has the following investments as of December 31, 2017:
$1,570,000
Investments in common stock of Laser Company
Investment in debt securities of FourSquare Company
$3,180,000
In both investments, the carrying value and the fair value of these two investments are the same at December 31, 2017.
Whispering's stock investments does not result in significant influence on the operations of Laser Company. Whispering's
debt investment is considered held-to-maturity. At December 31, 2018, the shares in Laser Company are valued at
$1,120,000; the debt investment securities of FourSquare are valued at $2,310,000. Assume that these…
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ESTIMATED PROFIT AND LOSS ACCOUNT (INCOME STATEMENT) FOR KARACHI
TRADERS LTD
$
Revenue (5000 units @ $3.00)
15000
Cost of goods sold (@ $1.00 per unit)
Gross profit
5000
10000
Overhead expenses
4000
Operating profit (profit before tax and interest)
6000
Finance costs (interest)
2000
Profit before tax
4000
Corporation tax @ 20%
Profit for the year
800
3200
Dividends paid
1200
Retained profit
2000
Profit and loss account for Karachi Traders Ltd for the year ending 31 December 2014
20 marks, 40 minutes
1. By amending this profit and loss account (income statement), calculate the new
level of retained profits if the following changes actually occurred:
• each unit was sold…
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ACCT-1170-017-Fall 2024-Principles of Managerial Accounting
Question Completion Status:
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QUESTION 1
Take Test: Unit 4 Homework
Relaunch to update:
Freeman Furnishings has summarized its data as shown. Direct labor hours will be used as the activity
base to allocate overhead:
Raw materials purchased
$ 320,000
Raw materials, beginning inventory
Raw materials, ending inventory
15,000
14,000
Work in process, beginning inventory
35,000
0
Work in process, ending inventory
37,000
Estimated overhead
300,000
Depreciation of factory building
50,000
Factory real estate taxes
Factory utility expenses
Indirect materials
7,382
45,000
20,000
Indirect labor
Direct labor cost
Direct labor hours incurred
11,000
100,000
24,000
Estimated direct labor hours
25,000
Compute the cost of goods manufactured.
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Cost of Materials Issuances
Bravo Wire Enterprises is a manufacturer of electrical conductors. The following incomplete subsidiary ledger is for wire cable during July:
a. Complete the materials issuances and balances for the wire cable subsidiary ledger. Assume a first-in, first-out cost flow.
Received
Receiving
Report
Number
Received
Quantity
Received
Unit Price
Issued
Materials
Requisition
Number
Issued
Quantity
Issued
Balance
Amount
Date
Balance
Quantity
Balance
Amount
Balance
Unit Price
309
200
$7.00
July 1
July 5
125
$750
$ 6.00
125 V
750 V
6.00
7401
240
July 10
422
400
$8.00
July 201
7639
325
July 26
b. Determine the balance of wire cable at the end of July,
1,280
c. Determine the total amount of materials transferred to Work in Process for July.
4.070
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INTERMED. ACCOUNTING (ACC 3110/312
Kieso, Intermediate Accounting, 16e
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Exercise 17-10
At December 31, 2017, the available-for-sale debt portfolio for Sheffield, Inc. is as follows.
Unrealized
Gain (Loss)
Fair Value
Security
Cost
$(11,375 )
$68,250
$79,625
A
6,825
63,700
56,875
B
11,375
116,025
104,650
C
$247,975
6,825
$241,150
Total
1,820
Previous fair value adjustment balance-Dr.
$5,005
Fair value adjustment-Dr.
On January 20, 2018, Sheffield, Inc. sold security A for $68,705. The sale proceeds are net of brokerage fees.
Sheffield Inc. reports net income in 2017 of $546,000 and in 2018 of $637,000. Unrealized holding gains and gains equal
$182,000 in 2018.
Prepare a statement of comprehensive income for…
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Ayayai Mowers Ltd. agreed to sell the City of Halifax four riding mowers and 20 push lawn mowers. The contract price was $72,00O.
Ayayai normally sells its riding mowers for $14,400 and its push lawn mowers for $960. The contract required the City of Halifax to
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Ayayai delivered all four of the riding mowers and 14 of the push mowers on April 26. The remaining six push mowers were delivered
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elearn.squ.edu.om/mod/quiz/review.php?attempt=D16687
G... Obs -Jblicyl .lyI all zihll Go
SQU E-LEARNING SYSTEM (ACADEMIC) E-LEARNING SERVICES SQU LIBRARIES SQU PORTALATTENDANCE
The correct answer is: OMR 35,200
Question
10
Company XYZ is currently producing AND selling 10,000 units of product A. At this level, the total product cost was $60,000.
This included $10,000 direct materials, $20,000 direct labor and $30,000 manufacturing overhead cost, which included 20%
variable manufacturing overhead cost. The selling and administrative expenses were $100,000, which included $60,000
variable selling and administrative costs. Assume that the selling price per unit $20, how much was the total contribution
margin?
Theorrect
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a. $134,000
b. None of the given answers
C. $40,000
d. $104,000
e. $194,000
The correct answer is: $104,000
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INTERMED. ACCOUNTING (ACC 3110
ce Assignment
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Bramble Corporation has 10,800 shares of $100 par value, 7 %, preferred stock and 46,500 shares of $10 par value
common stock outstanding at December 31, 2017.
Answer the questions in each of the following independent situations.
(a) If the preferred stock is cumulative and dividends were last paid on the preferred stock on December 31, 2014, what
are the dividends in arrears at December 31, 2017?
Amount of dividends in arrears
226,800
How should these dividends be reported?
not reported
The cumulative dividend is
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Changes in Current Operating Assets and Liabilities-Indirect Method
Covington Corporation's comparative balance sheet for current assets and liabilities was as follows:
Dec. 31, 20Y2
Dec. 31, 20Y1
Accounts receivable
$15,300
Inventory
66,500
67,200
Accounts payable
20,100
0098
Dividends payable
000'
Adjust net income of $84,200 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
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Reporting Stockholders' Equity
Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8. 50,000 shares of common stock authorized, and 2,000 shares have been reacquired.
Common Stock, $80 par
$3,200,000
Paid-In Capital from Sale of Treasury Stock
64,000
Paid-In Capital in Excess of Par-Common Stock
440,000
Retained Earnings
1,728,000
Treasury Stock
42,000
Stockholders' Equity
Paid-In Capital:
Common Stock, $80 Par
3,200,000
Excess over par
440,000
Treasury Stock
From Sale of Treasury Stock
64,000
Total Paid-in Capital
$ 3,704,000
Retained Earnings
Total
Treasury Stock
Total Stockholders' Equity
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A compound journal entry involves
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- w- 202106070805337561 Qv Search in Document Home Insert Draw Design Layout References Mailings Review View + Share a Calibri (Body) 11 A- A- Aa AaBbCcDc AaBbCcDdE AaBb AaBbCcDdEE AaBbCcDdEe AaBbCcDdEe Paste I U v abe X, x² A A Styles Pane Sensitivity Normal No Spacing Heading 1 Heading 2 Title Subtitle Orthodox School ESTIMATED PROFIT AND LOSS ACCOUNT (INCOME STATEMENT) FOR KARACHI TRADERS LTD $ Revenue (5000 units @ $3.00) 15000 Cost of goods sold (@ $1.00 per unit) Gross profit 5000 10000 Overhead expenses 4000 Operating profit (profit before tax and interest) 6000 Finance costs (interest) 2000 Profit before tax 4000 Corporation tax @ 20% Profit for the year 800 3200 Dividends paid 1200 Retained profit 2000 Profit and loss account for Karachi Traders Ltd for the year ending 31 December 2014 20 marks, 40 minutes 1. By amending this profit and loss account (income statement), calculate the new level of retained profits if the following changes actually occurred: • each unit was sold…arrow_forward> A Blackboard Learn A My Grades - ACCT-1170-017-F X | + 1 U CA k 个 N = X myCT ctccs.blackboard.com/ultra/courses/_209880_1/cl/outline Λ P* ACCT-1170-017-Fall 2024-Principles of Managerial Accounting Question Completion Status: > QUESTION 1 Take Test: Unit 4 Homework Relaunch to update: Freeman Furnishings has summarized its data as shown. Direct labor hours will be used as the activity base to allocate overhead: Raw materials purchased $ 320,000 Raw materials, beginning inventory Raw materials, ending inventory 15,000 14,000 Work in process, beginning inventory 35,000 0 Work in process, ending inventory 37,000 Estimated overhead 300,000 Depreciation of factory building 50,000 Factory real estate taxes Factory utility expenses Indirect materials 7,382 45,000 20,000 Indirect labor Direct labor cost Direct labor hours incurred 11,000 100,000 24,000 Estimated direct labor hours 25,000 Compute the cost of goods manufactured. ہے Click Save and Submit to save and submit. Click Save All…arrow_forwardI need help on this questionarrow_forward
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Publisher:PEARSON
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ISBN:9781259722660
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Publisher:McGraw-Hill Education
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Publisher:McGraw-Hill Education