Essentials of Payroll Accounting

Course Description

Payroll can become an all-consuming accounting exercise that demands inordinate amounts of time and effort. The existence of an efficient, cost-effective payroll system defines the well-run accounting department. In this course - a breakout of Steven M. Bragg's bestselling Accountants' Guidebook - we'll examine practices and techniques to maximize efficiency in your payroll department.

We offer this course as a convenience for those of you who are interested in studying the Essentials of Payroll Accounting as a standalone topic. Join Steven for an in-depth look at how to work within the GAAP requirements of payroll accounting and benefit from his suggestions, tips, and techniques for navigating this complex topic.

This course covers material also contained in Accountants' Guidebook.

Instructor

Steven M. Bragg, CPA

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.

Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

• Define a payroll cycle.
• Identify when employees are paid in a biweekly payroll system and in a semimonthly payroll system and a key difference between the two systems.
• Name a timekeeping solution for an hourly employee who nearly always works 40 hours a week.
• Choose an action that will not help protect the confidentiality of payroll information.

Chapter 2

• Identify a characteristic of the chart of accounts.
• Cite why wages are accrued.
• List a permissible way to record a commission expense.
• Name a reason a company with few hourly staff might avoid wage accrual.
• Specify when a bonus expense should not be accrued.
• Cite why the accrued benefits journal entry is not commonly used.
• Identify how to classify an employee advance and a use of a stock subscription plan.

Chapter 3

• Specify proper accounting when stock is issued to an employee.
• Define the reload feature and implicit service period.
• List a characteristic of stock with a highly volatile price.
• Name a consequence of a stock option expiring unused.
• Cite an assumption of the lattice pricing model for stock options.
• Identify when a stock-based compensation arrangement is likely to be classified as a liability.

Table of Contents

Choose Your Preferred Format

• Online Access
• Hard Copy
• Self-Study Video

Online Access

Get immediate access to a robust collection of learning and reference materials, allowing you to dive deep into the information you need. Our self-study materials are authored by top-quality, industry experts who focus on helping you grasp concepts quickly using real-life examples. Download your CPE to any device, and take it with you so you can learn when and wherever you want. Complete your CPE with an online exam, and enjoy instant grading with the option to print your certificate immediately upon passing.

Hard Copy

Our self-study materials are authored by top-quality, industry experts. You’ll receive a bound notebook of all the course materials, shipped to you within one business day. In addition, you’ll also have full online access. Each self-study package includes a robust collection of learning and reference materials to help you cover the information efficiently and put it into practice immediately.

Self-Study Video

Experience high-quality instruction with our Self-Study Videos, available to you 24/7. With more than 80+ videos currently in the Western CPE Self-Study Video library, you can see and hear our expert instructors deliver the information you need in a dynamic way that allows you to immediately apply your learning. Unlike a live course or webcast, you can complete the course on your own time, playing and pausing as needed. Self-Study Videos allow you to complete your CPE requirements on your own time.