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Course Outlines
Course Outlines

Payroll Accounting — ACCT 1207

  1. Course Description
    • Credits: 3.00
    • Lecture Hours/Week: 3.00
    • Lab Hours/Week: 0.00
    • OJT Hours/Week: 0
    • Prerequisites:
      • ACCT 1010: Principles of Financial Accounting I
    • Corequisites: None
    • MnTC Goals: None
    Compute payroll amounts and withholdings based on payroll procedures and laws. Topics will include the Fair Labor Standards Act (FLSA) and Internal Revenue Service (IRS) requirements for accurate payroll records and government records. Students will learn to calculate gross pay, income tax, Federal Income Contribution Act (FICA) withholdings, federal and state unemployment requirements, and other withholdings for net pay amounts. In addition, the updating of payroll registers, earnings records, journal entries, completion of various tax forms and other mandated forms is included. At the end of the course, a comprehensive payroll project will be required.
  2. Course Effective Dates: 4/15/26 – Present
  3. Outline of Major Content Areas
    1. Fringe benefits and voluntary deductions
    2. Gross pay for different pay bases and various situations
    3. Income tax, Social Security, and other withholdings to arrive at net pay
    4. Payroll documentation and record retention
    5. Payroll practices and the legal framework
    6. Payroll register, earnings records, accounting entries
    7. Payroll taxes and reporting/filing requirements
  4. Learning Outcomes
    1. Analyze federal payroll laws and regulations.
    2. Calculate employee gross wages, including regular and overtime pay, using a variety of methods.
    3. Compute withholding for federal and state income, FICA, federal and state unemployment taxes as well as other mandatory and voluntary payroll withholdings.
    4. Complete tax forms 940, 941, Schedule B, W-2, W-3, and W-4 required for federal filing purposes.
    5. Prepare payroll registers, employee earnings records, general journal entries, and general ledger posting for payroll records.
    6. Calculate the employer?s payroll tax expenses pertaining to payroll earnings.
  5. Minnesota Transfer Curriculum Goal Area(s) and Competencies
  6. Learner Outcomes Assessment
      As noted on course syllabus
  7. Special Information
      None noted