ACCT120 Payroll Records and Accounting
Department of Business and Innovation: Accounting
- I. Course Number and Title
- ACCT120 Payroll Records and Accounting
- II. Number of Credits
- 3 credits
- III. Number of Instructional Minutes
- IV. Prerequisites
- ACCT103 (C or better) or ACCT105 (C or better)
- V. Other Pertinent Information
- VI. Catalog Course Description
- This course examines the various payroll laws, payroll accounting systems, and the procedures for computing wages and salaries in small, medium, and large firms.
- VII. Required Course Content and Direction
Course Learning Goals
- demonstrate an understanding of the various laws that affect employers in their payroll operations and procedures employed in a typical payroll accounting system;
- identify services that constitute employment status and identify the types of compensation that are defined as wages;
- compute the amount of federal income tax, FICA, and, other income taxes to be withheld from employee’s wages;
- construct a payroll register, employee’s earning record, compute payroll taxes, and prepare the applicable journal entries;
- prepare various payroll tax returns.
Planned Sequence of Topics and/or Learning Activities
- the need for payroll and personnel records
- computing and paying wages and salaries
- social security taxes
- income tax withholding
- unemployment compensation taxes
- analyzing and journalizing payroll transactions
Assessment Methods for Course Learning GoalsThe assessment of course learning goals may be based on discussions, homework, quizzes, exams, assignments, papers, performance based tasks and projects, and/or instructor evaluation.
Reference, Resource, or Learning Materials to be used by Student:See course syllabus for required textbook and any related materials.
Review/Approval Date - 5/99; Revised 3/05; Revised 12/2011; New Core 8/2015