Human Resource Accounting (HRA) means to measure the cost and value of the people (i.e. of employees and managers) in the organization. It measures the cost incurred to recruit, hire, train and develop employees and managers.
Human Resource Accounting (HRA) means to measure the cost and value of the people (i.e. of employees and managers) in the organization. It measures the cost incurred to recruit, hire, train and develop employees and managers.
Strategic role of compensation, strategic compensation policy, total compensa...Ramona Beharry
This PowerPoint deals with the Strategic role of compensation in the organization. States how you develop a total compensation strategy and also strategic compensation planning.
Wage policy in india - compensation management - Manu Melwin Joymanumelwin
A national wage policy aims at establishing wages at the highest possible level, which the economic conditions of the country permit and ensuring that the wage earner gets a fair share of the increased prosperity of the country as a whole resulting from the economic development.
The DOL has published its final rules on Exemption and New Overtime Rules which President Obama predicts 4 to 5 million additional workers will be eligible for overtime pay. The effective date for the new rules is December 1, 2016 and employers need to start now to assess their current position classification levels and understand the various options to ensure compliance of the new rules by the effective date. This webinar will provide insight to the current and new rules and steps an employer will need to take to meet the new rules.
Strategic role of compensation, strategic compensation policy, total compensa...Ramona Beharry
This PowerPoint deals with the Strategic role of compensation in the organization. States how you develop a total compensation strategy and also strategic compensation planning.
Wage policy in india - compensation management - Manu Melwin Joymanumelwin
A national wage policy aims at establishing wages at the highest possible level, which the economic conditions of the country permit and ensuring that the wage earner gets a fair share of the increased prosperity of the country as a whole resulting from the economic development.
The DOL has published its final rules on Exemption and New Overtime Rules which President Obama predicts 4 to 5 million additional workers will be eligible for overtime pay. The effective date for the new rules is December 1, 2016 and employers need to start now to assess their current position classification levels and understand the various options to ensure compliance of the new rules by the effective date. This webinar will provide insight to the current and new rules and steps an employer will need to take to meet the new rules.
HR / Talent Analytics orientation given as a guest lecture at Management Institute for Leadership and Excellence (MILE), Pune. This presentation covers aspects like:
1. Core concepts, terminologies & buzzwords
- Business Intelligence, Analytics
- Big Data, Cloud, SaaS
2. Analytics
- Types, Domains, Tools…
3. HR Analytics
- Why? What is measured?
- How? Predictive possibilities…
4. Case studies
5. HR Analytics org structure & delivery model
Health Care Reform Strategies for Small Employers:
• Health Care Tax Credits and Penalties
• The Recently Delayed Pay or Play Mandate
• Health Insurance Exchanges
• SHOPs
• Other Cost-Savings Opportunities
• Strategic Decision Making for Large and Small Employers
• And more!
HealthWaysBudgetTable 1. HealthWays Clinic, Monthly Expense Budget Report, June 2018.ItemJune 2018May 20182018 YTDBudgetActualVarianceActualBudgetActualPhysician FTE1.01.01.01.01.0Nurse PractitionerFTE3.03.03.03.03.0Encounters:Established patients27529128616501671New patients251827150164Total encountersExpenses:Physician Salaries & Benefits$10,500$10,502$10,509$63,000$63,149NP Salaries & Benefits$20,000$20,992$20,191$120,000$122,001Clerical (2 FTE) Salaries & Benefits$6,667$6,771$6,683$40,000$41,978Total personnel expenseMedical supplies$7,500$8,136$7,994$45,000$47,883Office supplies$583$623$508$3,498$3,407Rent$2,917$2,917$2,917$17,502$17,502Depreciation$333$346$346$1,998$2,050Capital Expenses$3,333$3,480$3,480$19,998$20,439Overhead$167$167$167$1,002$1,002Total non-personnel expenseTotal health center expenseInterpretation:Providers:The FTEs have not changed, at least for the first 6 months of 2018.Encounters:The number of encounters, both new and established, is increasing over the year.Personnel expense:Although the FTEs are not changing, the personnel budget is somewhat more than budgeted, particularly the NP and clerical budgets. The management should investigate why this is the case, and better control the personnel budget.Non-personnel expense:Medical supplies are over budget. Office supplies are under budget. Depreciation and capital expenses (new equipment) increased over the budget year. Rent and overhead remain stable, but might be expected to increase next year.Total expenses:The clinic must carefully control expenses as its profitability is very low. Possible strategies might include improving staff productivity, reducing the cost of medical supplies, and postponing further capital purchases.
HealthWaysFinancialsNurse-Run Clinic ScenarioPatient EncountersFY 2018FY 2017Established patients3,3483,204New patients331287Total Encounters3,6793,491 Cash$5,675$12,098Financial Ratios:Expense per Encounter = Total Operating Expenses / Total EncountersTotal Operating Revenue per Encounter = Total Operating Revenue / Total EncountersOperating Margin = Net Income/Total Operating RevenueDays Cash On Hand = (Cash + Cash Equivalents) / (Operating Expenses / Days in Time Period)Table 2. HealthWays Clinic, Income Statement, FY 2018.Table 3. HealthWays Clinic, Balance Sheet, December 31, 2018.FY 2018FY 2017Current AssetsDecember 31, 2018December 31, 2017Current LiabilitiesDecember 31, 2018December 31, 2017Gross Revenue (charges)$558,520$497,221 Cash5,0329,877 Notes Payable27,44950,000Less write-offs & adjustments117,254104,332Short-term Investments40,38934,181 Accounts Payable 78,70269,412Net Patient Revenue (collected)$441,266$392,889 Accounts Receivable63,39259,359 Accrued Expenses:+Other Revenue209,671234,953 Supply Inventories, at Cost16,02914,918 Salaries & Benefits38,26528,274 Prepaid Expenses & Other2,1041,876 Taxes1,4191,398Total Operating Revenue$ 650,937$ 627,842Total Current Assets$ 126,946$ 120 ...
Discussion Board Rubric
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Introduction and quality of discussion’s Argument
1 point
It is consistent with application in research related to its context. Clarity of ideas.
0.50 point
The topic has a partially weak association to clarity of ideas and related topic.
Objectivity of Tone, overall quality & Review of Literature in APA 6th format within past 7 years
1 point
Tone is consistent, addressed professionally and objectively.
Evidence in literature supports arguments.
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The tone is not consistently objective. Partially poor evidence in review of literature.
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Partially lack of clarity or lack of support with research evidence.
Balance Sheet RatioChoice HotelsRatiosSeptember 30, 2018 9 Month EndDec. 31, 2017Formulas* Prof feedback: Working Capital is wrong for both years and Total Asset Turnover are all wrong. Since you did not show your work, I can't determine what is wrong.Current ratio0.941.41current ratio = current assets / current liabilitiesConsolidated Balance Sheets - USD ($ in Thousands)Sep. 30, 2018Dec. 31, 2017Working capital$ (663,823.00)$ (641,918.00)working capital = current assets – current liabilities$ in ThousandsTotal Asset Turnover ratio0.250.27total asset turnover ratio = net sales / total assetsNote: Net sales can be described as operating income from the income statement.Current assetsCash and cash equivalents$ 30,916$ 235,336Receivables (net of allowance for doubtful accounts of $15,509 and $12,221, respectively)$ 185,586$ 125,870Income taxes receivable$ 308$ - 0Notes receivable, net of allowance$ 32,642$ 13,256Other current assets$ 31,163$ 25,967Total current assets$ 280,615$ 400,429Property and equipment, at cost, net$ 117,610$ 83,374Goodwill$ 173,641$ 80,757Intangible assets, net$ 263,923$ 100,492Notes receivable, net of allowances$ 83,034$ 80,136Investments, employee benefit plans, at fair value$ 21,542$ 20,838Investments in unconsolidated entities$ 107,905$ 134,226Deferred income taxes$ 32,730$ 27,224Other assets$ 80,037$ 67,715Total assets$ 1,161,037$ 995,191Current liabilitiesDeferred RevenueAccounts payable$ 71,684$ 67,839Deferred revenue consists of the following:Accrued expenses and other current liabilities$ 78,591$ 84,315December 31,Deferred revenue$ 65,810$ 52,14220172016Current portion of long-term debt$ 1,099$ 1,232(in thousands)Liability for guest loyalty program$ 82,346$ 79,123Loyalty programs$127,921$115,851Total current liabilities$ 299,530$ 284,651Long-term debt$ 781,433$ 725,292Initial, relicensing and franchise fees8,9059,352Long-term deferred revenue$ 107,370$ 98,459Deferred compensation and retirement plan obligations$ 26,137$ 25,566Procurement services fees3,9397,668Income taxes payable$ 26,276$ 29,041Deferred income taxes$ - 0$ 39Other346347Liability for guest lo.
Payroll Webinar: Paying Overtime Under the FLSA: Part 2Ascentis
This is the second of a two-part webinar that will help you better understand the requirements and procedures involved in overtime calculation. Calculating overtime pay for nonexempt employees sounds so simple. But not so fast. The truth is that overtime rules and the mathematics required to arrive at the correct calculation can be extremely tricky. Our speaker will share her expertise and best practices for managing these calculations.
Penalties for overtime violations can be severe with the possibility of fines, imprisonment or both! Add civil suits to the mix and the results can be devastating to any business, no matter how large or small. Just to keep it interesting, most states use the same definition to calculate overtime as the FLSA does. So, even one, single error can earn you double the penalties.
Assignment Exercise 6–1: Allocating Indirect Costs
Study Table 6–1, Example of Radiology Departments Direct and Indirect Cost Totals, and Table 6–2, Example of Indirect Costs Allocated to Radiology Departments, and review the chapter text describing how the indirect cost is allocated. This assignment will change the allocation bases: A) Volumes, B) Direct Costs, and C) Number of Films.
Required
Compute the costs allocated to cost centers #557, 558, 559, 560, and 561 using the new allocation bases shown below. Use a worksheet replicating the set up in Table 6–2. Total the new results.
1. The new allocation bases are:
2. A) Volumes
3. 120,000
4. 130,000
5. 70,000
6. 110,000
7. 70,000
8. 500,000
9. B) Direct costs
10. $1,100,000
11. $700,000
12. $1,300,000
13. $1,600,000
14. $1,300,000
15. $6,000,000
16. C) No. of films
17. 400,000
18. 20,000
19. 55,000
20. 25,000
21. 20,000
22. 520,000
23.
Using a worksheet replicating the set up in Table 6–1, enter the new direct cost and the new totals for indirect costs resulting from your work. Total the new results.
Assignment Practice Exercise 7–I: Analyzing Mixed Costs
The Metropolis Health System has a system-wide training course for nurse aides. The course requires a packet of materials that MHS calls the training pack. Due to turnover and because the course is system-wide, there is a monthly demand for new packs. In addition the local community college also obtains the training packs used in their credit courses from MHS.
The Education Coordinator needs to know how much of the cost is fixed and how much of the cost is variable for these training packs. She decides to use the high-low method of computation.
Required
Using the monthly utilization information presented below, find the fixed and variable portion of costs through the high-low method.
Month
Number of Training Packs
Cost
January
1,000
$6,200
February
200
1,820
March
250
2,350
April
400
3,440
May
700
4,900
June
300
2,730
July
150
1,470
August
100
1,010
September
1,100
7,150
October
300
2,850
November
250
2,300
December
100
1,010
Assignment Exercise 7–1: Analyzing Mixed Costs
The Education Coordinator decides that the Community College packs may be unduly influencing the high-low computation. She decides to re-run the results omitting the Community College volume.
Required
24. Using the monthly utilization information presented below, and omitting the Community College training packs, find the fixed and variable portion of costs through the high-low method. Note that the college only acquires packs in three months of the year: January, May, and September. These dates coincide with the start dates of their semesters and summer school.
25. The reason the Education Coordinator needs to know how much of the cost is fixed is because she is supposed to collect the appropriate variable cost from the Community College for their packs. For her purposes, which computation do you believe is better? Why?
Month
...
1. New Hire verses Overtime
Analysis
A M C o m p a n y
8 / 1 2 / 2 0 1 1
Anna Mathis
This report is to showcase whether hiring new employees is cheaper over a year
time period than authorizing over time for the employees already employed.
2. 1 | P a g e
New Hire verses Overtime Analysis
The option to hire a new employee verses having the hourly employees work overtime is always a difficult decision. This report will reveal which
solution is more cost effective.
Employee Costs
An employee costs more than just a salary. This employee costs the company insurance as well as payroll taxes. The employee also costs the
company miscellaneous costs as well. The miscellaneous will not be included in the estimation portions of this this report. However, for the
sake of argument the total miscellaneous cost for 30 employees is $57,060 annually and $4,755 per month.
Employee Salary
The first analysis showcases the cost of the current employees for the company. The table below displays that the total current salary for all
employees on the team is $1,488,583.10. The average paid out salary for the month is $124,048.59. This is dispersed amongst 30 staff
members, not evenly.
Number of
Employees
Current Actual Annual
Salary
Average Estimated
Annual Salary per
Person
Average Monthly
Salary per Hire
Average Estimated
Weekly Salary per Person
Estimated Hourly
Salary per Employee
Management 5 $ 417,500.00 $ 83,500.00 $ 6,958.33 $ 1,605.77 $ 40.14
Adjusting Staff 20 $ 936,963.10 $ 46,848.16 $ 3,904.01 $ 900.93 $ 22.52
Clerical Staff 5 $ 134,120.00 $ 26,824.00 $ 2,235.33 $ 515.85 $ 12.90
Total Staff 30
Weekly Salary Total $ 28,626.60
Monthly Salary Total $ 124,048.59
Annual Salary Total $ 1,488,583.10 $ 1,488,583.10
3. 2 | P a g e
Insurance Costs for Current Employees
The second analysis was based on the insurance costs for the current team of employees. The table below displays that the total insurance for
the current employees is $144,000.00 dollars. These values are rounded to nearest hundreds place. The average cost of insurance for the
month is $12,000.00, evenly distributed.
Number of Employees Annual Insurance Cost Monthly Insurance Cost Weekly Insurance Cost
Management 5 $ 4,800.00 $ 400.00 $ 92.31
Adjusting Staff 20 $ 4,800.00 $ 400.00 $ 92.31
Clerical Staff 5 $ 4,800.00 $ 400.00 $ 92.31
Total Staff 30
Weekly Costs $ 2,769.23
Monthly Costs $ 12,000.00
Annual Costs $ 144,000.00
Payroll Tax Costs for Current Employees
The third analysis was based on the payroll taxes that are paid by the company for each employee. This tax is 6% of the total annual salary of
the employee. The table below showcases that the total payroll tax paid is $89,314.99 for the year. This breaks down to $7,442.92 a month,
evenly distributed amongst the types of employee staffing.
Number of Employees
Annual Salary of Type
of Employee
Annual Cost of
Payroll Tax
Monthly Cost
of Payroll Tax
Weekly Cost of
Payroll Tax
Management 5 $ 83,500.00 $ 5,010.00 $ 417.50 $ 96.35
Adjusting Staff 20 $ 46,848.16 $ 2,810.89 $ 234.24 $ 54.06
Clerical Staff 5 $ 26,824.00 $ 1,609.44 $ 134.12 $ 30.95
Total Staff 30
Weekly Tax Total $ 1,717.60
Monthly Tax Total $ 7,442.92
Annual Tax Total $ 89,314.99
4. 3 | P a g e
Total Cost of Current Employees
The total cost of the current employee team is $1,721,898.09. Including the miscellaneous costs, the employees cost $1,778,958.51. This breaks
down to $148,256.51 a month. This includes salary, payroll taxes, insurance costs and miscellaneous costs paid by the employer.
Number of
Employees
Average Estimated
Annual Salary per
Person
Annual Insurance
Cost
Annual Cost of
Payroll Tax
Total Annual Cost Total Monthly Cost Total Weekly Cost
Management 5 $ 83,500.00 $ 4,800.00 $ 5,010.00 $ 93,310.00 $ 7,775.83 $ 1,794.42
Adjusting Staff 20 $ 46,848.16 $ 4,800.00 $ 2,810.89 $ 54,459.04 $ 4,538.25 $ 1,047.29
Clerical Staff 5 $ 26,824.00 $ 4,800.00 $ 1,609.44 $ 33,233.44 $ 2,769.45 $ 639.10
Total Staff 30
Weekly Cost Total $ 33,113.42
Monthly Cost Total $ 143,491.51
Annual Cost Total $ 1,721,898.09
Total Cost of Over Time
If the employer decided to only authorize 1 hour overtime for 5 days a week for the hourly staff, annually it would cost $200,828.08 for the year.
Number of
Employees
Estimated
Hourly Salary
per Employee
Estimated Overtime
per Hour per Hourly
Employee
Estimated Overtime
for All Hourly
Employees per Day
Estimated Overtime
for All Hourly
Employees for 5
Days
Estimated Overtime for
All Hourly Employees for
5 days for 52 weeks
Monthly Cost OT @
1hr/day
Annual Cost OT @
1hr/day
Management 5 $ 40.14 $ - $ - $ - $ - $ - $ -
Adjusting Staff 20 $ 22.52 $ 33.78 $ 675.69 $ 3,378.47 $ 175,680.58 $ 14,640.05 $ 175,680.58
Clerical Staff 5 $ 12.90 $ 19.34 $ 96.72 $ 483.61 $ 25,147.50 $ 2,095.63 $ 25,147.50
Total Staff 30
Annual Over
Time Total Costs
$ 200,828.08
If the employer includes the overtime costs, the total annual costs would be $1,979,786.59. Monthly, the employees including overtime would
be $164,982.22.
5. 4 | P a g e
New Hire Costs
When an employer hires a new employee, there are additional costs. Some of these may include head hunter costs (15% of annual salary for
hired employee), training costs and additional miscellaneous costs. In this section the report will explore all of these. The company that this
report was designed for uses head hunter firms and trains their employees. Therefore, these two items must be included in the total costs of a
new hire.
Training Costs
Training is on a per hire need. This process depends on whether a human resource person is on staff or is not. For this company, they hire a
human resources firm to do necessary training on policies. The company does all other training in house. The human resources firm costs $58 an
hour and the cost of a current staff to train is on average $29.01 per hour. If the employee needs 1 hour with the human resources and 5 hours
with a staff member, it would cost an additional $203.05 for the year.
Total Cost of a New Hire Based On Position
The table below showcases the average annual, monthly and weekly costs of each type of new staffing hire. The average estimated annual costs
include a miscellaneous cost of $1,902 per employee and the $203.05 for training purposes. These values are then split up accordingly for the
next columns.
Number of Employees Cost of Head Hunter
Average Estimated Annual
Costs per Hire
Average Monthly Cost per
Hire
Average Weekly Cost per Hire
Management 1 $ 12,525.00 $ 107,940.05 $ 8,995.00 $ 2,075.77
Adjusting Staff 1 $ 7,027.22 $ 63,591.32 $ 5,299.28 $ 1,222.91
Clerical Staff 1 $ 4,023.60 $ 39,362.09 $ 3,280.17 $ 756.96
6. 5 | P a g e
Comparison between New Hire Costs and Over Time Costs
In this section of the report, the analysis is shown in the below table. Depending on the type of staffing that the company wishes to hire, the
following breakdown would occur.
Monthly Hire
Costs per Hire
Monthly Over
Time Costs
Annual Hire
Costs
Annual Over
Time Costs
Differences of Monthly
New Hire Cost and OT
@ 1 hr/day
Differences of Annual
New Hire Cost and OT
@ 1 hr/day
# of Hires Possible
Management $8,995.00 $- $107,940.05 $- $8,995.00 $107,940.05
Adjusting Staff $5,299.28 $14,640.05 $63,591.32 $175,680.58 $(9,340.77) $(112,089.26) 1.8
Clerical Staff $3,280.17 $2,095.63 $39,362.09 $25,147.50 $1,184.55 $14,214.59 0.4
The conclusion being that it would make best sense to hire a new employee verses authorizing overtime. This is not best if the company wanted
to hire a full time management staff. It would work best for if the company only wanted to hire a full time adjusting staff.
More analysis would need to be pursued to discover whether a combination of overtime and a new hire would work better verse a new full time
and new part time employee.