Below Is a Narrative for the "Pay Employees" Portion (Bubble

question 53

Essay

Below is a narrative for the "Pay employees" portion (bubble 4.0) of the payroll process described in Chapter 14.
Narrative Description
Validated attendance time records initiate the payment to workers in process 4.0 (Pay employees). In calculating employees' gross and net pay, Process 4.1 (Prepare paychecks) retrieves data from both the employee/payroll master data and the tax rates data. Process 4.1 accumulates current, quarter-to-date, and year-to-date totals for each employee and reports this information via the data flow "Payroll register." This information also is used to update the employee/payroll master data. Finally, process 4.1 prints and distributes paychecks to employees as reflected in the "Employee paychecks" data flow.
The data flow "Payroll register" triggers process 4.2 (Prepare disbursement voucher). This will result in a data flow for the GL disbursement voucher update and a data flow for the disbursement voucher. Process 4.3 (Prepare payroll transfer check) and sends the check to the bank to cover the organization's periodic net payroll.
Required:
From the DFD in TB Figure 14.2 and the narrative description above, explode bubble 4.0 into a lower level diagram showing the details of that process.

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Definitions:

Cash Flow

Cash flow signifies the net amount of cash and cash-equivalents being transferred into and out of a business, crucial for assessing its liquidity, flexibility, and overall financial performance.

Project's Payback

A calculation that determines the duration required for an investment to generate cash flows or profits enough to recover the initial investment cost.

WACC

Weighted Average Cost of Capital; the average rate of return a company must pay its security holders to finance its assets.

MIRR

The Modified Internal Rate of Return, a financial metric that measures the profitability of an investment while considering the cost of borrowing and reinvestment of cash flows.