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BIGBUCKS has five departments, each with a supervisor. The supervisor of each department triggers (initiates) the payroll process. Each department supervisor totals the hours for each employee. He notes these totals on a summary employee timesheet. He then forwards the timesheet to data processing. Data processing enters the timesheet data (employee number and hours) into the computer. The computer computes the normal hours and the overtime hours. The computer then reads the employee's withholding and pay-rate data from the Employee database (maintained on disk) and computes the gross pay, net pay, and deductions for each employee. As it is computed, the computer logs the pay data onto a temporary disk file (you can refer to it as TDF). Then, the computer prints a paycheck and payroll stub for each employee on the printer in the payroll department. At the end of the day, the computer reads the TDF and prints a summary of the payroll data on a printer in the payroll department. The payroll manager reconciles the summary with the paychecks and then stamps each paycheck with the necessary signature stamp. The payroll manager then delivers each paycheck to the appropriate employee.
Financial Statement Analysis and Preparation
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Computation of Free Cash Flow
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