ACCT120 Payroll Records and Accounting
Department of Business, Innovation, and Legal Studies: Accounting
- I. Course Number and Title
- ACCT120 Payroll Records and Accounting
- II. Number of Credits
- 3 credits
- III. Number of Instructional Minutes
- 2250
- IV. Prerequisites
- ACCT103 (C or better) or ACCT105 (C or better)
- Corequisites
- None
- V. Other Pertinent Information
- None
- 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
Students will:
- 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 Goals
The 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