Practice Assignment

Sr.
Unit 5
No
Questions
1 What is Payroll Accounting?
2 What are the main components of Payroll Accounting?
What is the importance of creating employee records in Payroll
3 Accounting?
4 How can salary structures be defined in Payroll Accounting?
5 What is an attendance register and how is it used in Payroll Accounting?
6 What are pay heads and how are they created in Payroll Accounting?
7 What types of salary reports can be generated in Payroll Accounting?
What are financial statements and how are they used in Payroll
8 Accounting?
9 What is a Trading Account and how is it used in Payroll Accounting?
What is a Profit and Loss Account and how is it used in Payroll
10 Accounting?
11 What is a Balance Sheet and how is it used in Payroll Accounting?
What are some common accounts books and reports used in Payroll
12 Accounting?
What are inventory books and reports and how are they used in Payroll
13 Accounting?
What are exception reports and why are they important in Payroll
14 Accounting?
15 What are statutory reports and how are they used in Payroll Accounting?
16 What are some common Payroll reports and how are they used?
17 What is a Trail Balance and how is it used in Payroll Accounting?
18 What is a Day Book and how is it used in Payroll Accounting?
19 What is a List of Accounts and how is it used in Payroll Accounting?
20 What are the benefits of using Payroll Accounting software in a business?