ACCT1020 — Payroll Procedures
ACCT 1020 - Payroll Procedures ACCT 1020 - Payroll Procedures Hours/Week: Lecture 3 Lab 0 Course Description: This course covers the numerous laws pertaining to employment practice and compensation as well as computations and payment of salaries and wages and related taxes. Topics include employment recordkeeping requirements, preparation of the payroll register, individual earnings records, tax reports, and other forms required by government agencies. The accounting procedures necessary to properly prepare accounting transactions are also covered. MnTC Goals None Note: Students concurrently enrolled in compute wages, salaries, overtime pay. explain Social Security tax laws and filing requirements. prepare Social Security tax forms. explain federal income tax withholding laws. prepare statements, and returns. prepare federal tax deposits. explain unemployment tax calculations (federal and state). prepare reports and payments. analyze payroll activity. journalize and post payroll transactions. Minnesota Transfer Curriculum (MnTC): Goals and Competencies Competency Goals (MnTC Goals 1-6) None Theme Goals (MnTC Goals 7-10) None Courses and Registration
Prerequisites: ACCT1010, ACCT2020