Standard

R State Standard £ Developed College: n/a

ACC 152 – Payroll Accounting

Course Description:

Provides an understanding of the laws that affect a company's payroll structure and practical application skills in maintaining payroll records. Topics include: payroll tax laws, payroll tax forms, payroll and personnel records, computing wages and salaries, taxes affecting employees and employers, and analyzing and journalizing payroll transactions.

Competency Areas:	Hours:
Payroll Tax Laws	Class	4
Payroll Tax Forms	D. Lab	2
Payroll and Personnel Records	P. Lab/O.B.I.	0
Computing Wages and Salaries	Credit	5
Taxes Affecting Employees and Employers
Analyzing and Journalizing Payroll Transactions

Prerequisite:	None
Corequisite:

Course Guide

Competency	After completing this section, the student will:	Hours
		Class	D. Lab	P. Lab/ O.B.I.
PAYROLL TAX LAWS		4	2	0
Federal tax laws	Identify the payroll and personnel records that provide the information required by federal tax laws.
PAYROLL FORMS		4	2	0
Filing returns and depositing taxes	Identify the payroll and personnel records that provide the information required by federal tax laws.
PAYROLL AND PERSONNEL RECORDS		4	2	0
Information needs	Use the procedures employed in a typical payroll accounting system.
	Explain the importance of a thorough record-keeping system.
COMPUTING WAGES AND SALARIES		8	8	0
Computing gross pay	Describe the basic payroll accounting procedures used in computing wages and salaries and the time-keeping methods used to record hours expended.
Coverage under social security	Identify the social security laws and their application to payroll accounting practices.
Social security tax computation	Compute the amount of social security tax due on wages and salaries in regard to current rates and ceilings.
	Determine the due date for making timely social security tax deposits.
Computerized payroll software	Use computer software to compute gross pay, withholdings, net pay, update payroll records, and record and post accounting entries.
Payroll transactions software identification	Review and analyze payroll transactions to determine software needs.
TAXES AFFECTING EMPLOYEES AND EMPLOYERS		8	4	0
Income taxes	Identify federal and state income tax laws and their application to payroll accounting practices.
Income tax computation	Compute the amount of income tax on wages regarding marital status and withholding allowances.
Filing returns and depositing taxes	Complete quarterly and annual reports.
	Determine the due date for making timely income tax withholding deposits.
Unemployment compensation tax	Identify federal and state unemployment compensation tax laws and their application to payroll accounting practices.
Unemployment compensation tax computation	Compute the amount of unemployment tax regarding federal and state rates and ceilings.
Filing returns and depositing taxes	Complete quarterly and annual reports.
	Determine the due date for making timely unemployment tax deposits.
ANALYZING AND JOURNALIZING PAYROLL TRANSACTIONS		3	2	0
Analyzing and journalizing payroll transactions	Perform payroll operations including payroll register and employee earnings record preparation, and the recording of accounting entries involving payroll.

Suggested Resources

Media (Print Audio/Visual Web Other)	Note: Please adhere to the APA Formatting and Style Guidelines. Examples: Author, A. A. (Year of publication). Title of work: Capital letter also for subtitle. Location: Publisher. Duncan, G.J., & Brooks-Gunn, J. (Eds.). (1997). Consequences of growing up poor. New York: Russell Sage Foundation.
Print	Bieg, B. & Toland, J.(2008). Payroll Accounting. 18^th Edition. Independence, KY: Cengage.
	Haddock, D.M. & Cohen, S. (2006). Payroll Records & Procedures, 5^th Edition. New York, NY: McGraw-Hill/Irwin.

Posted: 08/26/08