This course reviews the many processes involved in payroll management including timekeeping, payroll withholdings, and calculating and executing pay.
The controllership function often is responsible for many areas within an organization’s finance group. In some cases, they have personnel who perform these functions and in other cases, the functions may be managed by a bookkeeper. In any event, it is critical the Controller understand all facets that are involved in this process. Important areas of responsibility is to be engaged with is the management and recording of payroll as well as expenditures. Payroll is a high risk area that impacts not only the company but also the employee. Expenditures are a pivotal component of how the organization can manage its profits.
This segment will review the many processes involved in payroll management including timekeeping, payroll withholdings, calculating and executing pay. An employer, regardless of number of workers, must maintain all records pertaining to payroll taxes (income tax withholding, social security tax and federal unemployment tax) for at least four years after the tax becomes due or is paid, whichever is later. Twenty different kinds of employment records must be kept just to satisfy federal requirements. As you can see, this is a critical area for the bookkeeper. In addition, this segment will cover concepts of expense management and the categories of expenses including fixed, variable and periodic. Business expenses are costs incurred in the ordinary course of business. They apply to small entities or large corporations. On the income statement, business expenses are subtracted from revenue to arrive at a business's taxable net income. It is important to ensure that expenses incurred are “valid” business expenses to be deductible for tax purposes.
Whether you are a business owner or want to develop the skills to begin a career, there are critical accounting and bookkeeping concepts that are important to learn. These courses have been developed by a CPA who has both small and large business accounting experience and background. The full curriculum of courses for the Controllership Function and Bookkeeper will provide you with the ultimate foundation to a career as a bookkeeper.
Field of Study: Accounting
Lynn Fountain has over 45 years of experience spanning public accounting, corporate accounting and consulting. 24 years of her experience has been working in the areas of internal and external auditing. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance. Ms. Fountain has held two Chief Audit Executive positions for international companies. In 2011, as the Chief Audit Executive for an international construction/ engineering firm, she was involved in the active investigation of a joint venture fraud. The investigation included work with the FBI and ultimately led to indictment of the perpetrators and recovery of $13M. Ms. Fountain is currently engaged in her own training and consulting business and is a regular trainer for the AICPA. Ms. Fountain is the author of three separate technical books. “Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations” was published by the Institute of Internal Auditors Research Foundation. -“Leading The Internal Audit Function” and -“Ethics and The Internal Auditor Political Dilemma” were published by Taylor & Francis In addition Ms. Fountain was a contributing author to the certification program exam for the National Association of Accountants. She also has certificate programs on various on-line platforms. Ms. Fountain has performed as an adjunct instructor for the School of Business for Grantham University and developed the first internal audit curriculum for the School of Business at the University of Kansas. Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CGMA, CRMA credentials and CPA certificate (non-active).
