CXC CSEC Principles of Accounts (POA) exam guide: Section 14: Payroll Accounting



CXC CSEC Principles of Accounts Exam guide: Section 14: PAYROLL ACCOUNTING

CXC CSEC Principles of Accounts Exam Guide

Section 14: PAYROLL ACCOUNTING


SPECIFIC OBJECTIVES

The students should be able to:

CONTENT
1. Identify basic source documents of the payroll; Use of time cards, time, electronic clock-in cards. Employee earnings records.

2. Transfer information from time cards or sheets to payroll; Calculation of gross earnings (wages) from employee records.

3. Calculate employees' gross earnings;

Preparation of payroll and wage documents from time cards, computer records.
4. Calculate employees' net pay;

Calculation of statutory deduction and non-statutory deductions, for example, income tax, social security and mortgage.
5. Distinguish between voluntary and statutory deductions; Statutory and non-statutory deductions.


Fivestar

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