ACCT 262

Payroll Accounting (3-0) 3 Cr. Hrs.

Course Description

In this course you will gain first-hand experience in calculating payroll, completing payroll taxes, and preparing payroll records and reports. You will cover the various phases of the Social Security Taxes, Federal Income Taxes, State Income Taxes and Unemployment Compensation Insurance. You will complete a manual and computerized payroll simulation.


(A requirement that must be completed before taking this course.)

Course Competencies

Upon successful completion of the course, the student should be able to:

  • Develop an understanding of the personnel and payroll records that provide the information required under the numerous laws affecting the operations of a payroll system.
  • Describe the payroll-record life of employees from their initial application for employment to their application for their first social security benefit checks.
  • Identify the various aspects of the Fair Labor Standards Act and other laws that affect payroll operations and employment practices.
  • Describe the basic payroll accounting systems and procedures used in computing wages and salaries and the timekeeping methods used to record time worked.
  • Explain the various phases of the Social Security Act, the federal income tax withholding law, and other laws relating to the payment of wages and salaries.
  • Demonstrate practice in all payroll operations, the preparation of payroll registers, the recording of accounting entries involving payroll, and the preparation of payroll tax returns required of businesses.
  • Complete a payroll project manually or with a microcomputer, update employees files, complete payroll reports and display quarterly reports and W-2 forms.
  • Work in a group.
  • Evaluate the efficiency of computerized payroll accounting package.
  • Examine various laws that affect the payroll operations and employment practices of a business.
  • Explain the major provisions of the Fair Labor Standards Act.
  • Explain the various phases of the Social Security Act, the Federal Income Tax Withholding Law, and other laws relating to the payment of wages and salaries.
  • Compute wages and salary.
  • Apply current tax rates and wages base for FICA (Social Security and Medicare) and SECA (self employment).
  • Compute federal income tax withholdings.
  • Compute federal and state unemployment taxes.
  • Prepare various tax forms.
  • Prepare journal entries for payroll transactions.
  • Complete a payroll simulation project.

Course Schedule

        No of Weeks   Begins   
 CourseSectionCourse TitleModeCredit HoursInstructorsFeeSeats Available ⁄Capacity ⁄WaitlistStatusDays-Time-Room

Fall; 2016; ACCOUNTING; No of Weeks : 15; Begins : 08/29/2016

 262142523Payroll Accounting 3Brewer J$42.0014/24/0Open
S 09:00AM-11:54AMAS940

Note: This schedule updates once every 24 hours. Please reference WebAdvisor for current status.

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