FPC Exam Content Outline

Effective September 14, 2019: FPC Knowledge, Skills, and Abilities (KSAs)

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