Page 38 - Accountancy for Advanced Secondary Schools Teachers Guide Form Five

7. Payroll policies and procedures
(a) Establishing policies: Teach how to develop and implement
clear payroll policies and procedures to ensure consistency
and compliance.
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(b) Internal controls: Discuss the importance of internal controls
in payroll processing to prevent fraud and errors.
8. Global payroll considerations

(a) International payroll: Introduce the complexities of
managing payroll for multinational companies, including
currency exchange, different tax laws, and varying labour
regulations.
(b) Cross-border compliance: Highlight the importance of
understanding and complying with international payroll
regulations and tax requirements.

9. Continuous learning and updates
(a) Staying current: Stress the importance of staying current
with changes in payroll laws, tax regulations, and technology
advancements.

(b) Professional development: Encourage continuous
professional development through certifications (e.g.,
Certified Payroll Professional, CPP) and training.

Chapter summary
By addressing these key issues, you can provide a thorough and
practical education in payroll accounting, equipping students with the
knowledge and skills needed to manage payroll processes effectively
and compliantly in various organizational settings.

Teacher’s Guide Form Five
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ACCOUNTANCY_TG_2024_FINAL DUMMY.indd 24 23/06/2024 17:45