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CAS3701 Assignment 11 (COMPLETE ANSWERS) 2024 - DUE 13 September 2024
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CAS3701 Assignment 11 (ANSWERS) 2024 - DUE 13 September 2024 ; 100% TRUSTED Complete, trusted solutions and explanations.
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CAS3701 Assignment 11 (COMPLETE ANSWERS) 2024 - DUE 13 September 2024 ; 100% TRUSTED Complete, trusted solutions and explanations
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,CAS3701 Assignment 11 (COMPLETE ANSWERS)2024 - DUE 13 September 2024 ; 100% TRUSTED
Complete, trusted solutions and explanations.
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
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