STANDARD

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 and personnel records, computing wages and salaries, taxes affecting employees and employers, and analyzing and journalizing payroll transactions.

Competency Areas	Hours
Payroll and Personnel Records	Class/Week	3
Computing Wages and Salaries	D. Lab/Week	2
Taxes Affecting Employees and Employers	P. Lab/Week
Analyzing and Journalizing Payroll Transactions	Credit Hours	4

Prerequisite: ACC 101/Corequisite ACC 102

COURSE GUIDE
Competency	After completing this section, the student will:	Hours
		Class	D.Lab	P.Lab
PAYROLL AND PERSONNEL RECORDS		5	2	0
Federal tax laws	Identify the payroll and personnel records that provide the information required by federal tax laws.
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		11	10	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.
Filing returns and depositing taxes	Complete quarterly and annual reports.
	Determine the due date for making timely social security tax deposits.
Computerized payroll	Use computer software to compute gross pay, withholdings, net pay, update payroll records, and record and post accounting entries.
	Prepare quarterly and annual report information.
Payroll transactions software identification	Review and analyze payroll transactions to determine software needs.
TAXES AFFECTING EMPLOYEES AND EMPLOYERS		12	6	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		2	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

Suggested Resources include textbooks shown below or most current edition.

Books

Bieg, B. J., & Keeling, B. L. (1993). Payroll accounting. Cincinnati: South-Western.

Computer Software

Bieg, B. J., & Keeling, B. L. (1993). Payroll accounting (diskette). Cincinnati: South-Western.