Asked by
Briana Briggs
on Nov 14, 2024
Verified
The objectives of internal accounting control for payrolls are (a) to safeguard company assets from unauthorized payments of payrolls and (b) to assure accuracy and reliability of the accounting records pertaining to payroll.
Internal Accounting Control
Procedures and policies implemented by a company to ensure the integrity and accuracy of its financial and accounting information.
Unauthorized Payments
Financial transactions made without proper approval or beyond the scope of allowed expenditures.
- Comprehend the critical role of internal controls within payroll and the impact of post-retirement benefits on financial statements.
Verified Answer
SM
Learning Objectives
- Comprehend the critical role of internal controls within payroll and the impact of post-retirement benefits on financial statements.
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