FPC Exam Content Outline
I Core Payroll Concepts 29%
- Worker Status
- Fair Labor Standards Act
- Employment Taxes
- Employee Benefits
- Employee / Employer Forms
- Professional Responsibility
- Methods and Timing of Pay
II Compliance / Research and Resources 17%
- Escheatment
- Legislative and Regulatory Requirements
- Reporting
- Record Retention
- Penalties
- Global
III Calculation of the Paycheck 24%
- Compensation / Benefits
- Fringe Benefits
- Involuntary Deductions / Taxes
- Voluntary Deductions
- Employer Taxes and Contributions
- Total Payroll
IV Payroll Process and Supporting Systems and Administration 7%
- Maintain master file components
- Concepts and Functionalities
- Business Continuity Plan
V Payroll Administration and Management 7%
- Policies and Procedures
- Intradepartmental Agreements
- Customer Service and Communication
VI Audits 8%
- Internal Controls
- Payroll System Controls
- Accounting Systems Controls
- Audit Policies and Procedures
VII Accounting 8%
- Financial Reporting
- Accounting Principles
- Payroll Journal Entry
- Account Reconciliation