ACCT 1110 Payroll Accounting

ACCT 1110: Payroll Accounting

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

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1. Preparation of payroll related employment records2. Payroll registers

3. Employee earning records

4. State and federal reports

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.

Lecture: 3

Lab: 0

OJT: 0

MnTC Goal Area(s): None