Exam (elaborations)
CAS3701 Assignment 11 2024 - DUE 13 September 2024
- Course
- Institution
CAS3701 Assignment 11 2024 - DUE 13 September 2024 QUESTIONS AND ANSWERS
[Show more]
Seller
Follow
jpapaya
Reviews received
Content preview
CAS3701 Assignment 112024 - DUE 13 September
2024
[Company address]
,CAS3701 Assignment 11 2024 - DUE 13 September 2024
QUESTION 1
1. BACKGROUND LearnCo. Limited (LearnCo.) is a top training provider that offers
skills development training solutions to businesses and government institutions in South
Africa. The company is based in Gauteng, South Africa and has a 30 June 2024 year-
end. LearnCo. offers a wide variety of courses in health and safety, leadership and
managerial skills, occupational health and even on emerging technologies like machine
learning, robotics, coding and artificial intelligence. The company conducts the training
at the client’s workplace premises. LearnCo. employs 250 facilitators permanently. The
facilitators come from a diverse range of fields in line with the courses offered by the
company. The facilitators spend majority of their time travelling to clients throughout the
country and consequently, LearnCo. incurs a high amount of expenditure related to
travel claims. You have recently been appointed as the Financial Manager (FM) of
LearnCo. The Chief Financial Officer (CFO) is orientating you about the company and
its payroll system. The payroll system is outlined below.
2. PAYROLL SYSTEM LearnCo. uses a payroll software called Revolve X. Revolve X is
highly advanced and is powered by artificial intelligence (AI). Revolve X automates the
majority of routine payroll-related transactions. These include screening CVs submitted
online, shortlisting candidates, performing monthly reconciliations, filing electronic
reports, computing the monthly payroll expense, and validating and processing input
data for the payroll. Any valid employee of LearnCo. has login access. LearnCo. has a
, limited Human Resource (HR) unit in place. The HR unit currently consists of the HR
manager and two payroll clerks. The HR manager is currently responsible for
conducting interviews, completing the recruitment process and retirements. The CFO
explained that other than the screening of CVs and shortlisting of candidates against
pre-determined criteria, Revolve X also assists the HR manager by providing pre-
populated templates for employee contracts. The payroll clerks are responsible for
capturing approved rates for travel claims, medical aid, provident fund and other
applicable expenditures. Revolve X also houses the employee database. As the FM,
you will approve and sign off the employee contracts on behalf of the company, ensure
that applicable rates are up to date and that the schedules produced by the system are
correct prior to authorisation for payment.
2.1 Dismissals and resignations Dismissals and resignations occur seldomly at
LearnCo. The HR manager is currently overloaded with his duties, so management
decided to move the handling of dismissals and resignations solely to the CFO. You
were busy reviewing the payroll and noted details of two employees, with employee
numbers 452901 and 370213, who were dismissed in September 2023 and December
2023, respectively, but were still included in the payroll. Fortunately, no payments have
been made to the employees since their dismissals. When you followed up on this
matter with the CFO, he indicated to you that he has a practice of removing such
employees from the payroll at the company’s year-end.
2.2 Employee expense Employees are paid salaries on the last working day of the
month. LearnCo. has no set salary structure for its employees. Employees can secure a
higher pay-rate upon their appointment and during their performance reviews based on
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller jpapaya. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.84. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
72042 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now