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Effective: Summer 2011
ACTG 65PAYROLL & BUSINESS TAX ACCOUNTING4 Unit(s)

Prerequisites: Prerequisite: ACTG 1A.
Advisory: Advisory: Eligibility for MATH 220 and ESLL 26.
Grade Type: Letter Grade, the student may select Pass/No Pass
Not Repeatable.
FHGE: Non-GE Transferable: CSU
4 hours lecture. (48 hours total per quarter)

Student Learning Outcomes -
  • Explain current federal payroll tax accounting rules and procedures.
  • Perform related calculations and demonstrate the ability to apply rules and /or procedures to solve payroll tax accounting problems.
Description -
Presentation of basic payroll procedures used in business today. Provides practice in recording procedures and preparation of tax returns.

Course Objectives -
Student will be able to:
  1. Describe payroll laws and record-keeping requirements.
  2. Explain the procedures to maintain payroll records.
  3. Analyze, compute, and report payroll taxes.
  4. Prepare and distribute the payroll
  5. Identify and explain payroll systems and control procedures.
Special Facilities and/or Equipment -
Access to a PC lab and Excel software. When taught as an online distance learning section, students and faculty need ongoing and continuous Internet and Email access.

Course Content (Body of knowledge) -
  1. Employees versus independent contractors, federal laws protecting equal right in employment.
  2. Timekeeping records and computing gross earnings
  3. Withholding federal and state income taxes, FICA taxes and other withholdings and unemployment taxes.
  4. Maintaining payroll register, employee earnings records, and paying employee wages.
  5. Making tax deposits, employer wages and tax reporting, payroll wages reports, and reports on non-employee compensation
  6. Manual systems, mechanized systems, and computerized systems.
  7. Maintain internal control over payroll systems.
Methods of Evaluation -
  1. Midterm and final exams.
  2. Computerized assignments.
  3. Preparing payroll tax forms
  4. Homework assignments.
Representative Text(s) -
Bieg, Bernard J., Payroll Accounting 2010 Edition. Ohio: South-Western, 2010.

Disciplines -
Accounting
 
Method of Instruction -
Lecture, in class or electronic discussions, report preparation, research projects and case studies.
 
Lab Content -
Not applicable.
 
Types and/or Examples of Required Reading, Writing and Outside of Class Assignments -
  1. Reading from assigned text
  2. Reading California Publications and Form Instructions at http://www.ftb.ca.gov
  3. Reading the latest Federal Tax updates at the IRS website
  4. Reading the latest California Tax updates at the CA FTB website
  5. Reading Internal Revenue Tax Code and Regulations
  6. Reading of Wall Street Journal, Business Week, and Fortune