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Payroll Accounting |
A Practical Approach |
Fourth Edition |
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Authors: |
Timothy F. Carse |
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Jeffrey Slater |
Rowe List No.: |
505-4 |
ISBN: |
0-89863-222-6 |
Pages: |
512 |
Completion Time:
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48-60 hours |
Copyright: |
2001 |
TOPICS AND FEATURES:
Calculating the time employees spend working.
Computing the earnings of employees.
Figuring social security and Medicare tax withholding.
Calculating federal and state income tax withholding.
Computing deductions for cafeteria and 401(k) pension plans.
Calculating advance earned income credit for employees.
Calculating allocated tips for food and beverage staff.
Accounting and record keeping for payroll transactions.
Preparation of quarterly payroll tax returns.
Preparation of annual payroll tax returns.
Legal and other compliance issues when managing a payroll.
Understanding and classifying workers as employees or independent contractors.
An overview of income and FICA taxes paid by self-employed people.
Unique student handbook provides a convenient study guide and additional practice.
Unique English-Spanish glossary.
Comprehensive Instructor Resource Manual and Test Bank.
Payroll Accounting: A Practical Approach reflects the authors' years of
experience teaching payroll accounting. The result is a solid, tested, pedagogical
approach to teaching this often neglected area of accounting and business management.
Payroll Accounting: A Practical Approach captures students' attention and
facilitates learning of this essential area of business. The authors have developed the
book to help students learn with greater ease and to assist an instructor in teaching the
necessary steps in preparing a payroll and payrolladministration.
For the fourth edition, the text has been revised for recent changes and developments
in payroll law and administration. Numerous examples and a step-by-step approach explain
and reinforce the key concepts and topics of payroll accounting. Students can gauge their
learning of the material by taking Self-Tests found throughout each chapter. Exercises,
questions, and problems found at the end of each chapter are designed to build student
skills and emphasize the key areas of the chapter. The Anderson Hardware payroll
practice set, found at the end of selected chapters in the book, maximizes the student's
learning process of payroll accounting, using a manageable, progressive,
chapter-by-chapter approach.
Contents
Chapter 1: Introduction to Payroll Accounting
LEARNING OBJECTIVES: For your preview and review
1 Defining payroll accounting
2 Job duties of the payroll professional
3 Professional responsibilities of the payroll accountant
4 Payroll accounting as a profession
Focus: Errors in payroll accounting
Answers to Self-Tests
Chapter Glossary
Review Questions
Real World Applications
Chapter 2: The Payroll Accounting Process: Hiring Employees
LEARNING OBJECTIVES: For your preview and review
1 The process of hiring employees
2 Laws that influence the hiring process
3 The employment application and personnel file
4 The I-9 form
5 The Form W-4
6 Record retention requirements
Focus: Human resources software
Answers to Self-Tests
Chapter Glossary
Review Questions
Real World Applications
Chapter 3: Calculating Gross Pay
LEARNING OBJECTIVES: For your preview and review
1 Activities for which employees are paid
2 Tracking work hours
3 Payperiods and workweeks
4 Calculating gross pay for hourly employees
5 Calculating overtime for hourly employees
6 Wages, salaries, and commissions
7 Calculating other types of earnings
Answers to Self-Tests
Chapter Glossary
Review Questions
Exercises
Comprehensive practice problem
Chapter 4: Calculating Payroll Taxes: Social Security
LEARNING OBJECTIVES: For your preview and review
1 Social security tax
2 The beginnings of the Federal Insurance Contributions Act
3 Calculating FICA: The social security earnings limit
4 Calculating social security for an individual employee
5 Calculating social security and Medicare for a payperiod
Answers to Self-Tests
Chapter Glossary
Review Questions
Exercises
Comprehensive practice problem
Chapter 5: Calculating Payroll Taxes: Income Taxes
LEARNING OBJECTIVES: For your preview and review
1 The W-4 and federal income tax withholding
2 Calculating federal income taxes
3 The purpose of federal income tax withholding
4 State income taxes
5 County and local withholding taxes
6 Reporting requirements for income taxes withheld
Answers to Self-Tests
Chapter Glossary
Review Questions
Exercises
Comprehensive practice problem
Chapter 6: Employee Deductions and Benefits
LEARNING OBJECTIVES: For your preview and review
1 Employee deductions
2 Before-and after-tax deductions
3 Salary reduction plans and deductions
4 Cafeteria plans and deductions
5 Trustees and plan administrators
6 Employee benefits
Answers to Self-Tests
Chapter Glossary
Review Questions
Exercises
Chapter 7: Laws Affecting Payroll Accounting
LEARNING OBJECTIVES: For your preview and review
1 The evolution of employment law and payroll accounting
2 Building a blueprint for employment laws
3 The Social Security Act of 1935
4 The Fair Labor Standards Act
5 Other laws that affect payroll activities
Focus: Times where different then...
Answers to Self-Tests
Chapter Glossary
Review Questions
Real World Applications
Chapter 8: Summarizing Payroll Information
LEARNING OBJECTIVES: For your preview and review
1 Recording payroll activities
2 Paying employees
3 Payroll registers and employee earnings records
Answers to Self-Tests
Focus: Computers and paper trails
Chapter Glossary
Review Questions
Exercises
Comprehensive Practice Problem
Chapter 9: Payroll Tax Deposits
LEARNING OBJECTIVES: For your preview and review
1 Employer responsibilities for payroll taxes
2 Deposit rules for Form 941 taxes
3 Deposit rules for Form 940 taxes
4 Deposit procedures using Form 8109
5 Overview of state payroll tax deposit rules
Answers to Self-Tests
Chapter Glossary
Review Questions
Exercises
Comprehensive Practice Problem
Chapter 10: Unemployment Taxes
LEARNING OBJECTIVES: For your preview and review
1 Background of unemployment taxes
2 Calculating federal unemployment taxes
3 State unemployment taxes
4 Calculating state unemployment tax
Answers to Self-Tests
Chapter Glossary
Review Questions
Exercises
Comprehensive Practice Problem
Chapter 11: Recording Payroll Transactions
LEARNING OBJECTIVES: For your preview and review
1 Accounting theory and concepts
2 Journalizing payroll activities
3 Journalizing a payroll
4 Journal entries for other employee deductions
Focus: The man who documented debits and credits
Answers to Self-Tests
Chapter Glossary
Review Questions
Exercises
Comprehensive Practice Problem
Chapter 12: The Form 940-EZ
LEARNING OBJECTIVES: For your preview and review
1 The purpose of the form 940-EZ
2 Employee earnings records and the payroll register
3 Preparing Form 940-EZ
4 Filing requirements for Form 940-EZ
5 Summary of state unemployment reporting requirements
Answers to Self-Tests
Chapter Glossary
Review Questions
Exercises
Comprehensive Practice Problem
Chapter 13: The Form 941
LEARNING OBJECTIVES: For your preview and review
1 The purpose of Form 941
2 The relationship between accounting records and Form 941
3 The steps to preparing Form 941
4 Form 941 filing requirements
5 Correcting errors on Form 941
6 Other quarterly tax returns for certain employers
Answers to Self-Tests
Chapter Glossary
Review Questions
Exercises
Comprehensive Practice Problem
Chapter 14: Reporting Employee Earnings
LEARNING OBJECTIVES: For your preview and review
1 Reporting employee earnings
2 Preparing W-2 forms
3 Procedures for submitting W-2 forms and the W-3 form
4 State and local reporting requirements
Answers to Self-Tests
Chapter Glossary
Review Questions
Exercises
Comprehensive Practice Problem
Chapter 15: Special Payroll Accounting Situations
LEARNING OBJECTIVES: For your preview and review
1 The earned income credit
2 Independent contractors and employees
3 The self-employed and payroll taxes
4 FICA taxes for food and beverage establishments
Focus: The independent contractor controversy
Strictly Personal: Starting and running your own business
Answers to Self-Tests
Chapter Glossary
Review Questions
Exercises
Real World Applications
Index
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