Common Course Outline

Course discipline/number/title ACCT 1814: Payroll Accounting

Catalog Description

Credits 3
Hours/Week 3
Prerequisites (Course discipline/number) ACCT 2217
Other requirements None
MnTC Goals (if any) NA

Course Description

This course is intended to give students an understanding of the fundamental concepts underlaying the United States federal employment tax code. The course will discuss the complexities payroll tax laws, payroll tax forms, and required accounting and reporting to comply with federal and state employment laws. This includes preparation of employment records, payroll registers, employee earnings records, timecards, and state and federal reporting requirements.

Date Last Revised (Month, year)

May, 2023

Outline of Major Content Areas

  1. Generally Accepted Accounting Principles (GAAP)
  2. Leadership and Communication Styles
  3. Compensation Policies
  4. Human Resources and Payroll Systems and Laws
  5. Computing Wages and Salaries
  6. Social Security Taxes (FICA, OASDI, HI)
  7. Income Tax Withholding and Deductions
  8. Unemployment Compensation Taxes (SUTA, FUTA)
  9. Analyzing and Journalizing Payroll
  10. Computerized Payroll Accounting
  11. Payroll Reports
  12. Code of Ethics

Learning Outcomes (General)

The student will be able to:

  1. Record, analyze interpret and report financial transactions using Generally Accepted Accounting Principles (GAAP) and other professional accounting standards and laws.
  2. Describe the employment procedures generally followed in a Human Resources Department.
  3. Use the terminology of the payroll accountant.
  4. Describe the basic principles of proper ethical conduct.
  5. Interpret the various payroll laws.
  6. Prepare various accounting records needed for payroll.
  7. Prepare the various federal and state payroll reports.
  8. Prepare payroll records with a computer program.

Learning Outcomes (MnTC)

NA

Methods for Evaluation of Student Learning

Methods may include but are not limited to:

RCTC Core Outcome(s)

This course contributes to meeting the following RCTC Core Outcome(s):

Critical Thinking
Students will think systematically and explore information thoroughly before accepting or formulating a position or conclusion.

Special Information (if any)

None