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Payroll Cycle

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Definition of Payroll Cycle

Payroll Cycle Image 1

Payroll Cycle

The period of service for which a company compensates its employees.



Related Terms:

Budget cycle

The annual period over which budgets are prepared.


Business cycle

Repetitive cycles of economic expansion and recession.


Business Cycle

Fluctuations of GDP around its long-run trend, consisting of recession, trough, expansion, and peak.


Cash conversion cycle

The length of time between a firm's purchase of inventory and the receipt of cash
from accounts receivable.


cash conversion cycle

Period between firm’s payment for materials
and collection on its sales.



Cash cycle

In general, the time between cash disbursement and cash collection. In net working capital
management, it can be thought of as the operating cycle less the accounts payable payment period.


Cash Cycle

The length of time between a purchase of materials and collection of accounts receivable generated by the sale of the products made from the materials.


Payroll Cycle Image 2

Cycle counting

The frequent, scheduled counting of a subset of all inventories,
with the intent of spotting inventory record inaccuracies, investigating root
causes, and correcting those problems.


cycle time

the time between the placement of an order to
the time the goods arrive for usage or are produced by
the company; it is equal to value-added time plus nonvalue-
added time


Expiration cycle

An expiration cycle relates to the dates on which options on a particular security expire. A
given option will be placed in 1 of 3 cycles, the January cycle, the February cycle, or the March cycle. At any
point in time, an option will have contracts with 4 expiration dates outstanding, 2 in near-term months and 2
in far-term months.


life cycle costing

the accumulation of costs for activities that
occur over the entire life cycle of a product from inception
to abandonment by the manufacturer and consumer


Lifecycle costing

An approach to costing that estimates and accumulates the costs of a product/service over
its entire lifecycle, i.e. from inception to abandonment.


manufacturing cycle efficiency (MCE)

a ratio resulting from dividing the actual production time by total lead time;
reflects the proportion of lead time that is value-added


Market cycle

The period between the 2 latest highs or lows of the S&P 500, showing net performance of a
fund through both an up and a down market. A market cycle is complete when the S&P is 15% below the
highest point or 15% above the lowest point (ending a down market). The dates of the last market cycle are:
12/04/87 to 10/11/90 (low to low).


Operating cycle

The average time intervening between the acquisition of materials or services and the final
cash realization from those acquisitions.


Payroll expense

The amount paid to employees for services rendered; synonymous with salary expense and wage expense.


Payroll Cycle Image 3

Payroll journal

A journal used to record the payroll of a company.


Payroll Register

A report on which is summarized the wage and deduction information
for employees for a specific payroll.



Payroll Stabilization

This calculation is used by states to determine the unemployment
contribution rate to charge employers and links the contribution rate
to fluctuations in a company’s total payroll over time.


Payroll tax expense

The amount of tax associated with salaries that an employer pays to governments (federal, state, and local).


Payroll taxes payable

The amount of payroll taxes owed to the various governments at the end of a period.


Political Business Cycle

A business cycle caused by policies undertaken to help a government be re-elected.


Product cycle

The time it takes to bring new and/or improved products to market.


product life cycle

a model depicting the stages through
which a product class (not necessarily each product) passes


Real Business Cycle Theory

Belief that business cycles arise from real shocks to the economy, such as technology advances and natural resource discoveries, and have little to do with monetary policy.


Replacement cycle

The frequency with which an asset is replaced by an equivalent asset.



 

 

 

 

 

 

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