ACCT 135 Business Payroll Tax Accounting • 3 Cr.
Examines systems and operations of payroll tax accounting. Students learn to prepare Form 941, 940, and W-2. The use of software such as Microsoft Excel is incorporated into the course. Topics include the Fair Labor Standards Act and Social Security Act. Recommended: ACCT 101.
After completing this class, students should be able to:
- Apply federal and state laws that affect employees and employer’s payroll operation.
- Record payroll transactions in compliance with GAAP.
- Compare and explain different methods of wage determination.
- Prepare payroll forms required by the state and federal government.
- Demonstrate payroll knowledge by manually completing and describing the payroll cycle.
- Apply payroll competency by completing a project using a computerized payroll program.
- Evaluate the effect of employee benefits, withholdings and wages on the accounting equation.