In this course we will cover the core elements of payroll; how gross pay is calculated; and issues when dealing with tips and benefits in kind.
This course provides an overview of payroll accounting. It is aimed at accountants and business managers and owners new to payroll accounting and looking for straightforward coverage of the key elements and features of payroll.
In this course, we will cover the core elements of payroll; how gross pay is calculated; and issues when dealing with tips and benefits in kind. We’ll also look at tax-exempt deductions and the statutory deductions from pay.
We’ll review the main elements of payroll taxation and social security contributions including the terminology used in the United States, Canada, and the United Kingdom.
And we’ll cover the calculation of Net Pay – that is the amount that the employee actually receives in their bank account. Finally, we’ll explore the main journal entries required in the accounts.
The principles and structure of payroll accounting are common across many jurisdictions, and the learning in this course applies in many countries of the world. For this reason, the course does not go into the detail of any country-specific legislation or regulations and does not cover the particular tax rates, tax bands or deduction rates that apply in different jurisdictions.
This course provides a grounding in the principles and structure of payroll accounting whatever your country of operation. I hope you enjoy it.
Business author and consultant, specialising in performance measurement and improvement
I am a Fellow of the Chartered Institute of Management Accountants in the UK and work as an author of business courses and a process improvement consultant. I have over 30 years' experience and live near Stirling in Scotland, with my wife, daughter and Cocker Spaniel. I aim to make my courses accessible and understandable. My courses focus on business topics including KPIs, performance measurement, approaches to business improvement, Agile and Lean. I hope you enjoy my courses.
Provincial regulators of CPAs in Canada do not require that independent providers of CPD be approved to offer courses. Instead, individual CPAs are responsible for assessing whether a CPD activity meets their requirements, and may take activities from any source provided those requirements are met.
Every course offered on LearnFormula is delivered by a qualified subject matter expert or learning organization, and advances learning objectives that are relevant to the responsibilities or professional competencies of Canadian CPAs. All activities on LearnFormula are quantifiable in terms of hours, and are also verifiable, in that users receive documented evidence of their attendance via a certificate of completion after finishing a course (and this certificate is stored by LearnFormula indefinitely). Nearly 100,000 Canadian CPAs successfully satisfy their CPD requirements via LearnFormula on an annual basis.
