Course

10101154 Payroll Accounting
Course Information
Description
This course introduces the student to the many aspects of payroll accounting, administration, and management. The course is intended for accounting students, other business students and outside professionals who have a need or interest in understanding the laws and regulations, the calculations (including all payroll taxes), the government reporting and the accounting entries related to the payroll function.
Total Credits
1
Course Competencies (Course Outcomes)
  1. Apply payroll laws and regulations
    Assessment Strategies
    by completion of Payroll project using excel
    by results of online quiz
    Criteria
    hours to be paid are properly calculated

  2. Calculate gross pay as required by the fair labor standards act
    Assessment Strategies
    by completion of Payroll project using excel (excel files are emailed)
    by results of online quiz
    Criteria
    gross pay is calculated for hourly employees
    gross pay is calculated for piece rate employees
    gross pay is calculated for salaried employees

  3. Calculate payroll related taxes
    Assessment Strategies
    by completion of Payroll project using excel (excel files are emailed)
    by results of online quiz
    Criteria
    federal and state withholding taxes are calculated
    FICA taxes are calculated
    federal and state unemployment taxes are calculated

  4. Handle before tax deductions
    Assessment Strategies
    by completion of Payroll project using excel (excel files are emailed)
    by results of online quiz
    Criteria
    Section 125 deductions are properly handled
    retirement deductions are properly handled

  5. Analyze tax deposit and reporting requirements
    Assessment Strategies
    by completion of Payroll project using excel (excel files are emailed)
    by results of online quiz
    Criteria
    taxes (FWT, SWT, FICA, FUTA, and SUTA) are deposited according to the appropriate regulations
    required reports (8109, 941, 940, W2, WT-6, WT-7, and UC-101) are properly prepared

  6. Handle tip income
    Assessment Strategies
    by results of online quiz
    Criteria
    minimum wage for tipped employees is understood
    understand how tip income is reported

  7. Calculate Advance Earned Income Credit
    Assessment Strategies
    by results of online quiz
    Criteria
    Advance Earn Income credit is properly calculated