An Introduction to Payroll Accounting

Welcome to myCPE

Reviewed

March, 2024

Ross Maynard

Learning Objectives

To discuss the main components of payroll including allowances, taxes, and deductions.
To explain the terms Gross Pay, Taxable Pay, and Net Pay.
To analyze the statutory taxes and deductions applicable in the United States, Canada, and the United Kingdom.
To discuss the main Journal Entries required to process payroll.
To review the elements recorded in a Payroll Register.

Course Description

Welcome to an Introduction to Payroll Accounting!

This CPE 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.

The speaker Ross Maynard in this CPE/CPD webinar will cover the core elements of payroll; how gross pay is calculated; and issues when dealing with tips and benefits in kind. He will also look at tax-exempt deductions and the statutory deductions from pay.

Attendees in this online course will be able to review the main elements of payroll taxation and social security contributions including the terminology used in the United States, Canada, and the United Kingdom. They will understand the calculation of Net Pay – that is the amount that the employee actually receives in their bank account and 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 CPE Accounting Course provides a grounding in the principles and structure of payroll accounting whatever your country of operation.

Overview

The payroll register

2 mins
What is Payroll?

8 mins
Summary: Gross pay

22 mins
Calculating taxable pay

32 mins
Payroll terminology: United states

43 mins

Webinar Qualifies For

1.5 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
1.5 General Credit of Accounting for Accountant/Bookkeeper/Tax Professionals
1.5 CPD Credit of Accounting for CPA in Canada
1.5 CPE Credit of Financial Accounting for Certified Internal Auditors (CIA)
1.5 CPE Credit of Accounting for Certified Fraud Examiner (CFE)
1.5 CPE Credit of Financial Reporting for Certified Management Accountants (CMA)
1.5 RCH Credit of HR (General) for Human Resource Certification Institute (HRCI) (Approval No. 649609)
1.5 CPE Credit of Financial accounting for Certified Valuation Analyst (CVA)
1.5 CPD Credit of Financial Reporting for Accredited in Business Valuation (ABV)
1.5 CPD Credit of Financial Reporting for Certified Financial Forensics (CFF)
1.5 PL Credit of Accounting for Chartered Financial Analyst (CFA)
1.5 CPD Credit for Association of Chartered Certified Accountants (ACCA)
1.5 CPE Credit of Accounting for Certified Government Financial Manager (CGFM)
1.5 CPD Credit for Chartered Accountant - ICAEW
1.5 CPE Credit of Accounting for Internal Audit Practitioner (IAP)
1.5 CPE Credit of Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA)
1.5 CE Credit of Financial accounting concepts for Certified FP&A Professional (FP&A)
1.5 CPE Credit of Accounting for Qualification in Internal Audit Leadership (QIAL)
1.5 CPD Credit for Chartered Accountants - Scotland
1.5 CPE Credit of Accounting for Iowa Licensed Public Accountant (IA-LPA)
1.5 CPD Credit for Chartered Accountants - Ireland (CAI)
1.5 CPD Credit for CPA - Ireland
1.5 PL Credit of Accounting for CIPM
1.5 CPE Credit of Accounting for Maine Licensed Public Accountant (ME-LPA)
1.5 CPE Credit of Accounting for Delaware Licensed Public Accountant (DE-LPA)

About Instructor

Ross Maynard

Managing Director, Ideas2Action Process Excellence Ltd

My philosophy is to inspire, challenge and support change. I have nearly 30 years’ experience as a business author and consultant.

As a consultant, I specialise in process improvement based on the Lean philosophy. I facilitate improvement teams and provide expertise in performance measurement and management; problem solving; and process improvement.

As well as delivering webinars for MyCPE, I develop courses and webinars for the ACCA (Association of Chartered Certified Accountants) in the UK and other specialist business and finance providers.

I live in Scotland, near Glasgow, with my wife, daughter and Cocker Spaniel.

Additional Information

Duration

1.5 Hours

Course Level

Basic

Instructional Method

QAS Self Study

Pre-requisites

None

Advance Preparation

None

FAQ’s

Click Here to View

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Ratings and Review

4.3

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Very Good

Average

Poor

Terrible

Agustina Alcantara, CPA in Canada, CPA (US)

Great information and examples. Really enjoyed seeing the different payroll taxes applicable to United States, Canada and UK. Even if it is at an overall basis and with the caveat that professional advice is required when making application of this information.

Yan Ji, CPA (US)

good webinar.

Susan Younghans, CPA in Canada

This course was very direct and to the point, no frills, everything about payroll for various countries.

Leslyn Kraus, CIA, CPA (US), CFE

I would like to have seen a class geared towards specific countries that was a little more in-depth.

Cindy Driest, CFE, CIA

1.5 Credits

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Subject Area

Accounting

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An Introduction to Payroll Accounting

Course Details

Learning Objectives

Course Description

Overview

Qualifies for

Webinar Qualifies For

Presenter Details

About Instructor

Ross Maynard

Other Details

Additional Information

1.5 Hours

Basic

QAS Self Study

None

None

FAQ’s

NASBA APPROVED

Ratings and Review

4.3

Agustina Alcantara, CPA in Canada, CPA (US)

Yan Ji, CPA (US)

Susan Younghans, CPA in Canada

Leslyn Kraus, CIA, CPA (US), CFE

Cindy Driest, CFE, CIA

Subject Area

Unlimited Access Plan

Inclusions

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