Payroll: Preparation, Analysis and Management
Advanced Payroll Planning, Management Control & Effective Analysis
Employee costs from payroll and other benefits are among the largest costs in any company other than the Cost of Goods Sold (COGS), rent and depreciation. If you are in a goods producing organization and this cost is part of your COGS or part of your operating costs, it means the effect on you will be doubled. Having these costs processed and reported properly is key for analysis and decision making. This course starts with introductions about the departments of HR and 'accounting and finance' then focuses on the payroll function.
The course goes through the process of preparing and calculating payroll and includes the controls needed and the pre-checks necessary to make sure correct data is used. The course enforces the knowledge of controls and proper processes in the work flow to achieve better efficiency in the department.
Employee benefits and their effect on the corporation are discussed and we explain how to conduct analysis on payroll and benefits using Excel. In addition, the course highlights the topics of accounting, internal and external audit relations with HR and payroll, and the data that could be required by them. The course then stresses the need for confidentiality in the payroll department and the importance of sharing data with others on a need to know basis or as per corporate policies. The course ends with ways to prepare budgets for the department and payroll and benefit costs of the corporation.
By the end of the course, participants will be able to:
Who Should Attend
This course is suitable to a wide range of professionals but will greatly benefit:
Compressed Program Outline ( Please Contact us for a Detailed Program Outline
Designing accounting and finance manual
Accounting department setup
Accounting concepts and their application
Chart of accounts
Long term assets
Production and inventory processing
Accounts receivables policies
Other accounting policies
Also available for 2 to 3 day durations as well as 10 to 30-day training durations In-House and Live online
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