Academic Catalog

ACTG 65: PAYROLL & BUSINESS TAX ACCOUNTING

Foothill College Course Outline of Record

Foothill College Course Outline of Record
Heading Value
Units: 4
Hours: 4 lecture per week (48 total per quarter)
Prerequisite: ACTG 1A.
Advisory: Elementary Algebra or equivalent; demonstrated proficiency in English by placement via multiple measures OR through an equivalent placement process OR completion of ESLL 125 & ESLL 249.
Degree & Credit Status: Degree-Applicable Credit Course
Foothill GE: Non-GE
Transferable: CSU
Grade Type: Letter Grade (Request for Pass/No Pass)
Repeatability: Not Repeatable

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

The student will be able to:
A. Describe payroll laws and record-keeping requirements.
B. Explain the procedures to maintain payroll records.
C. Analyze, compute, and report payroll taxes.
D. Prepare and distribute the payroll.
E. Identify and explain payroll systems and control procedures.

Course Content

A. Employees versus independent contractors, federal laws protecting equal right in employment.
B. Timekeeping records and computing gross earnings.
C. Withholding federal and state income taxes, FICA taxes and other withholdings and unemployment taxes.
D. Maintaining payroll register, employee earnings records, and paying employee wages.
E. Making tax deposits, employer wages and tax reporting, payroll wages reports, and reports on non-employee compensation.
F. Manual systems, mechanized systems, and computerized systems.
G. Maintain internal control over payroll systems.

Lab Content

Not applicable.

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.

Method(s) of Evaluation

A. Midterm and final exams.
B. Computerized assignments.
C. Preparing payroll tax forms.
D. Homework assignments.

Method(s) of Instruction

Lecture, in class or electronic discussions, report preparation, research projects and case studies.

Representative Text(s) and Other Materials

Bieg, Bernard J. and Judith A. Toland. Payroll Accounting (with Computerized Payroll Accounting Software CD-ROM). 25th ed. Cengage Learning, 2015.

 

Types and/or Examples of Required Reading, Writing, and Outside of Class Assignments

A. Reading from assigned text

B. Reading California Publications and Form Instructions at http://www.ftb.ca.gov

C. Reading the latest Federal Tax updates at the IRS website

D. Reading the latest California Tax updates at the CA FTB website

E. Reading Internal Revenue Tax Code and Regulations

F. Reading of Wall Street Journal, Business Week, and Fortune

 

Discipline(s)

Accounting