Month: January 2022

Certain policies must be formulated before a successful compensation system can be developed and implemented. These policies are strongly influenced by the organizations objectives and its environment. Compensation policies must deal with the following issues: Minimum and maximum levels of Read More …

Compensation refers to all the extrinsic rewards employees receive in exchange for their work. Compensation is usually composed of base wage or salary plus any accompanying bonuses and benefits. Base wage or salary is the hourly, weekly or monthly payment Read More …

Generally speaking, hire-purchase agreement means an agreement under which goods are let on hire and under which the hirer has an option to purchase them in accordance with the terms of the agreement and includes an agreement under which:  possession Read More …

There are many problems involved in any hotel audit, some of which are peculiar to the hotel industry such as control of cash assume greater proportions. Almost all sales points in a hotel make both cash and credit sales. The Read More …

The special steps involved in its audit are stated below : (1) Verify that entrance to the cinema-hall during show is only through printed tickets;  that they are serially numbered and bound into books;  that the number of tickets issued Read More …

A club is usually constituted as a company limited by guarantee. Therefore, various provisions of the Companies Act, 1956 relating to the audit of accounts of companies are also applicable to its audit. The special steps involved in such an Read More …