What Is The Syllabus For Fundamental Payroll Certification (FPC) Examination?
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The Fundamental Payroll Certification (FPC) examination, administered by the Payroll Org, assesses the knowledge and skills necessary for entry-level payroll practitioners. The exam consists of 150 multiple-choice questions, with a time limit of three hours. Below is a detailed outline of the syllabus for the FPC exam, broken down into seven main sections:
Topics Covered in FPC Exam:
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 Considerations
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%)
Key components in this area are:
Maintaining Master File Components
Concepts and Functionalities of Payroll Systems
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
Conclusion:
The FPC exam is designed to evaluate a candidate's understanding of these areas, ensuring they possess the foundational knowledge required for effective payroll management.
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