Chapter 16 Minimum wages

Chapter 16 Payroll Accounting

Minimum wage in B.C. law and news
http://www.labour.gov.bc.ca/esb/facshts/min-wage.htm
http://canadaonline.about.com/gi/dynamic/offsite.htm?site=http://www.labour.gov.bc.ca/esb/esaguide/
http://bcfed.ca/node/1950
http://columbiavalleynews.com/2010/04/10/bc-has-lowest-minimum-wage-highest-poverty-rate/

Summary:
Canada has a certain law for minimum wages, but the minimum wage standards are different in each provinces. In British Columbia, the general minimum wage is $8/hour, however, for first-job worker, employers were allowed to pay them $6/hour for a total of 500 hours. The minimum wages standard in B.C. haven't change since the year 2001. But as the price of foods and services raising through years, most of the minimum wages workers are no longer able to cover their expenses. Because of this, the B.C provincial goverment is taking a fight between raise or not raising the minimum wage standard.The Liberal goverment said that no need to increase the minimum wage becauce they think raising the wages will also increase the poverty rate. However, the government is considering increase the minimum wage to $10/hour.

Connection:
The connection between those articles and chapter 16's payroll accounting is that both of them talks about wages and salary of workers. In Chapter 16, we are taught to calculate the payroll, payment to employees. By raising the payments to employees,it will leads to less demand of employees,also,the company's expenses will increase. With the expenses increasing there will be some changes made to the calculations payroll and recording payroll, for example, income tax, gross pay, insurance and pension plan By increasing the minimum wage the payment of employee will also change.

Reflection:
I was hopping that the government could increase the minimum wages as soon as possible. But after reading those articles about the concerns of the government, i know that the government have to think from every perspective and all the possibilities before and after raising the minimum wage. By increasing the wage, the expenses of each company will also increase, by increasing the expenses, there are two different ways to cut the expenses, first is to raise the products prices or service fees, second is to hire less employee as much as possible.