ACCA Applied Knowledge · Business and Technology · The relationship between accounting and other business functions
Which of the following is a primary way in which the human resources function provides information to the accounting function?
HR provides accounting with details of starters, leavers, pay-rate changes and absences. Accounting uses this data to calculate gross pay, deductions and employer costs accurately and to record payroll expenses and liabilities correctly in the ledgers.
- APassing on the headcount, starter, leaver and pay-rate changes needed to calculate payrollCorrect
- BApproving supplier invoices for payment
- CSetting the selling prices of the entity's products
- DPreparing the entity's statement of cash flows
Explanation
Accounting needs accurate data on new joiners, leavers, changes in pay rates, and absence so that payroll costs are correctly calculated and recorded. The other options are tasks belonging to purchasing, sales or marketing, and the finance function itself.
Did you get it right without looking?
One question tells you little. A timed set on The relationship between accounting and other business functions shows your real accuracy, how long you take and where you lose marks.
More The relationship between accounting and other business functions questions
- A furniture manufacturer wants to cut the money tied up in raw timber and parts held in its stores. Which business function is primarily res…
- A retailer moves from holding large inventories to a just-in-time purchasing approach with a small number of suppliers. Which of the followi…
- A sales manager wants to offer a major customer 120 days' credit to win a large order. Which accounting-related concern should the finance f…
- Kestrel Ltd's production manager asks for a new component. The purchasing department obtains quotes, issues an order to the chosen supplier,…
- Which of the following is an example of the sales function relying on information from the accounting function?
- The finance team at Marlow Co is asked by the sales director to report revenue early to hit a bonus target, even though the goods have not b…