ACCT 254 - Business and Payroll Tax Accounting

5.0 Credits
Various aspects of federal, state and local payroll taxes levied upon business. Practical case experience in preparing payroll, payroll records and quarterly tax returns. Computerized practice set. Prerequisite: ACCT 101 or instructor’s permission.

Course Objectives
Upon successful completion of this course, students will be able to:

Observe, analyze and apply business information necessary to maintain payroll accounting systems. [REASON]
Identify arguments, evaluate claims, and form conclusions based on current payroll practices, procedures and laws. [REASON]
Identify and analyze problems and options, then select and implement appropriate solutions, and evaluate outcomes based on legal requirements relating to payment of wages and salaries. [REASON]
Accurately calculate gross and net wages and all taxes and deductions applicable. [REASON]
Accurately calculate amounts due on state and federal payroll tax forms. [REASON]
Use personal computers to obtain, store, organize and communicate information needed for payroll accounting and state and federal report filing. [COMMUNICATE]
Explain the basic payroll accounting process and procedures used in the payroll profession. [REASON]
Identify all legal requirements relating to the payment of wages and salaries. [REASON]
Prepare payroll tax returns. [REASON]