ACCT 1110 Payroll Accounting

ACCT 1110: Payroll Accounting

Description

Payroll Accounting involves the application of various state and federal laws pertaining to the computation of payment of salaries and wages.

Credits

3

Prerequisite

None

Corequisite

None

Topics to be Covered

1. Preparation of payroll related employment records2. Payroll registers

3. Employee earning records

4. State and federal reports

Learning Outcomes

1. Prepare personnel and payroll records that provide the information required under the numerous laws affecting the operations of payroll

2. Calculate wages and salaries applying rules of the Fair Labor Standards Act.

3. Apply the Social Security Act, the federal income tax withholding laws, and other laws relating to the payment of wages and salaries.

4. Analyze and journalize payroll transactions.

5. Prepare payroll reports for management and governmental entities.

Credit Details

Lecture: 3

Lab: 0

OJT: 0

MnTC Goal Area(s): None