BUSM70005
Payroll Administration
Sheridan
 
  I: Administrative Information   II: Course Details   III: Topical Outline(s)  Printable Version
 
Section I: Administrative Information
  Total hours: 42.0
Credit Value: 3.0
Credit Value Notes: N/A
Effective: Fall 2020
Prerequisites: ACCG70016
Corequisites: N/A
Equivalents: BUSM70006
Pre/Co/Equiv Notes: N/A

Program(s): Small Business Bookkeeping
Program Coordinator(s): Ruxandra Dunn
Course Leader or Contact: N/A
Version: 20200914_00
Status: Approved (APPR)

Section I Notes: Students taking this course will need reliable access to the internet, and should have a basic level comfort using computers as well as the self-discipline to study independently. Students can expect to spend an additional three hours per week for online activities such as postings, discussions, reading, homework and assignments.

 
 
Section II: Course Details

Detailed Description
Study fundamental payroll practices and procedures, including legislative compliances and relevant government regulatory agencies. Gain knowledge to identify taxable earnings and benefits, determine statutory and non-statutory deductions, calculate net pay, prepare accounting payroll data and complete the prescribed forms and remittances required to be submitted by employers.

Program Context

 
Small Business Bookkeeping Program Coordinator(s): Ruxandra Dunn
This is a compulsory course in the Small Business Bookkeeping Certificate program


Course Critical Performance and Learning Outcomes

  Critical Performance:
By the end of this course, students will demonstrate the ability to complete an entire payroll, in compliance with Canada Revenue Agency's legislation and its regulatory bodies.
 
Learning Outcomes:

To achieve the critical performance, students will have demonstrated the ability to:

  1. Apply provisions of the Employment Standards Act to ensure employers meet minimum requirements, mandated by the Province of Ontario.
  2. Distinguish employment income by evaluating cash earnings, allowances, expenses and fringe benefits.
  3. Calculate statutory deductions (Canada Pension Plan, Employment Insurance & Income Taxes) using both Canada Revenue Agency payroll tables and the on-line calculator.
  4. Identify various non-statutory deductions for the purpose of calculating net pay.
  5. Complete an earnings record, by computing insurable/pensionable earnings and gross/net taxable income.
  6. Prepare government remittances using prescribed forms.
  7. Create a year-end payroll register, to finalize the payroll cycle and report T4 slips and a T4 summary.
  8. Determine Employer Health Tax and Workers Safety & Insurance Board levies, in obligation of Provincial requirements.
  9. Construct payroll accounting journal entries and accruals.
  10. Administer employee terminations, by determining final payments owing and filing a Record of Employment.

Evaluation Plan
Students demonstrate their learning in the following ways:

 Evaluation Plan: IN-CLASS
 In-class/Homework Exercises10.0%
 Online Quizzes (4 x 5%)20.0%
 Assignments (2 x 15%)30.0%
 Midterm Exam (Lessons 1-5)20.0%
 Final Exam (Comprehensive)20.0%
Total100.0%

Provincial Context
The course meets the following Ministry of Colleges and Universities requirements:


 

Essential Employability Skills
Essential Employability Skills emphasized in the course:

  • Numeracy - Execute mathematical operations accurately.

Prior Learning Assessment and Recognition
PLAR Contact (if course is PLAR-eligible) - Office of the Registrar
Students may apply to receive credit by demonstrating achievement of the course learning outcomes through previous relevant work/life experience, service, self-study and training on the job. This course is eligible for challenge through the following method(s):

  • Challenge Exam
    Notes:  

 
 
Section III: Topical Outline
Some details of this outline may change as a result of circumstances such as weather cancellations, College and student activities, and class timetabling.
Instruction Mode: In-Class
Professor: Multiple Professors
Resource(s):
 TypeDescription
RequiredTextbookThe Owner's/Manager's Payroll Manual, Ontario, Carswell-Thomson

Applicable student group(s): For in-class students in the Faculty of Continuing and Professional Studies
Course Details:

Module 1: Payroll Compliance (Introduction & LO #1)

Lesson 1 - The Payroll Environment

  • Students are provided with an overview of the payroll function and the importance of employer compliance.
  • An exploration of relevant Federal & Provincial Legislation, Regulatory Agencies and Jurisdiction provides a framework for payroll concepts covered in the remainder of the course.

Self Test - 1%

Module 2: Payroll Fundamentals (LO's #2 - 6)

Lesson 2 - Income from Employment

  • Students begin to differentiate income from employment, including cash earnings, allowances & expenses and fringe benefits.
  • Taxable vs. non-taxable income is evaluated and emphasise is put on which statutory deductions are applicable to various types of taxable income.

Self Test - 1%

Lesson 3 - Statutory Deductions

  • Students extend their knowledge, by beginning to calculate Canada Pension Plan contributions (CPP), Employment Insurance premiums (EI) & Income Tax withholdings manually, using Payroll Deduction Tables and electronically, using Canada Revenue Agency's On-line Calculator (PDOC).
  • TD-1 Forms & Worksheets are also explained, providing insight as to how employers determine how much income tax to withhold from an employees pay.

Self Test - 1%

Lesson 4 - Non-Statutory Deductions

  • Students understanding of deductions is further expanded, as non-statutory deduction are introduced. Both compulsory and voluntary deductions are detailed and exampled, in preparation for a more comprehensive computation of net pay.   

Self Test - 1%

Lesson 5 - Calculating Net Pay

  • Students are now in position to apply an important payroll model, which aids in determining Insurable/Pensionable Earnings and Gross/Net Taxable Income.
  • Mastering this model, allows for the seamless and accurate calculation of gross earnings and statutory deductions. In addition, a structured approach to computing net pay is demonstrated, by creating employee earnings records.

Self Test - 1%

Quiz 1 - 5%, Quiz 2 - 5%, Assignment #1 - 15%, Mid Term Exam - 20%

 

Module 3: Year-End Procedures (LO's #6 - 8)

Lesson 6 - Remittances & T-Slips

  • Students are exposed to Federal Government reporting requirements, including a PD7A Statement (used for statutory remittances) and year-end T-slips (T4 & T4 Summary).
  • In conjunction with these obligations, the significance of the payroll register is sampled, as a primary source document, utilized for payroll reporting purposes.

Self Test - 2%

Lesson 7 - Other Payroll Levies

  • Students are introduced to additional Provincially mandated payroll levies, including Employer Health Tax and the Workers Safety Insurance Board.
  • General administration and filing of annual returns are explored.

Self Test - 1%

Quiz 3 - 5%, Quiz 4 - 5%, Assignment #2 - 15%

 

Module 4: Completing the Payroll Cycle (LO's #8 - 10)

Lessons 8 - Payroll Accounting & Controls

  • Students conclude the payroll cycle, synthesizing the payroll function's reliance on the accounting function.
  • By constructing appropriate journal entries and accruals, expenses and liabilities are identified, elaborating the concept of employer payroll costs.
  • As part of the payroll/accounting processes, internal controls are also discussed, bringing awareness to the risks employers can face, with regard to payroll fraud.

Self Test - 1%

Lesson 9 - Employee Terminations 

  • Students learn how to identify an interruption of earnings and the types of payments owing to employees who experience a loss of employment.
  • Terminations are evaluated for the purpose of filing a Record of Employment and Employment Standards Act legislation is revisited, to ensure minimum requirements are met.

Self Test - 1%

Module 5: Course Overview (LO's #1 - 10)

Lesson 10 - Comprehensive Review

  • Students continue to practice and apply their knowledge with comprehensive workshop exercises, in preparation for the final exam.

Final Exam - 20%

 



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