The CPP and FPC Exams - California Payroll Conference

Report
California Payroll
Conference
CPP and FPC Exams
Mary Brumm, CPP
[email protected]
September 11 and 12, 2014
Agenda
 Purpose of the Exams
 Choosing the correct exam - FPC or CPP
 Preparing for the Exam
 Testing Information and Test Taking Tips
 Resources
 Summary
Purpose of the Exams
 Provide industry standard of knowledge for payroll
professionals
 Competency measurement for employers
 Encourage professional growth and development
 Promote the Payroll Profession
 Promote Payroll as a strategy partner in the organization
Benefits
 Career development
 Held in high esteem by your company and peers
 Expand your knowledge base
 Considered a payroll professional an asset to companies
 Demonstrates the payroll expertise and professional
development.
 More companies are requiring FPP or CPP designation
 Ability to network with peers and payroll subject matter
experts
CPP or FPC Exam?
Payroll Body of Knowledge
Domain
I. Core Payroll Concepts
CPP Exam Content
FPC Exam Content
27.5%
40%
II. Compliance
23%
22%
III. Principles of Paycheck
Calculations
20%
20%
IV. Payroll Process and
Systems
8.5%
12%
V. Accounting
6.0%
6%
VI. Management and
Administration
15%
CPP – Core Payroll Concepts 27%
 A. Worker Status
 B. Fair Labor Standards Act
 C. Employment Taxes
 D. Employee Benefits
 E. Employee / Employer Forms
 F. Professional Responsibility
 G. Methods and Timing of Pay
CPP - Compliance/Research and
Resources 21%
 A. Escheatment
 B. Regulatory - Maintain Compliance and Accuracy of




Payroll Processing
C. Reporting
D. Record Retention
E. Penalties
F. Global
CPP – Calculation of the Paycheck 20%
 A. Compensation / Benefits
 B. Involuntary Deductions / Taxes
 C. Voluntary Deductions (pre and post tax)
 D. Employer Taxes and Contributions
 E. Net Pay
CPP - Payroll Process and Supporting
Systems and Administration 9%
 A. Maintain master file components
 B. Concepts and Functionalities
 C. Disaster Recovery Plan
 D. Selection
 E. Implementation / Upgrades
 F. Maintenance / Updates
 G. Project Management
CPP - Payroll Administration and
Management 10%
 A. Policies and Procedures (e.g., overtime, benefits,
leave)
 B. Staffing, Employee Development, and Core
Competencies
 C. Management Skills and Practices
 D. Communication / Customer Service
CPP – Audits 7%
 A. Internal Controls
 B. Payroll System Controls
 C. Accounting System Controls
 D. Third Party Controls
 E. Audit Policies and Procedures
CPP – Accounting
 A. Accounting Principles
 B. General Ledger Account Classification
 C. Payroll Journal Entry
 D. Account Reconciliation
FPC – Core Payroll Concepts – 40%
 A. Worker Status
 B. Fair Labor Standards Act
 C. Employment Taxes
 D. Employee Benefits
 E. Employee / Employer Forms
 F. Professional Responsibility
 G. Methods and Timing of Pay
FPC – Compliance/Research and
Resources 20%
 A. Escheatment
 B. Regulatory - Maintain Compliance and Accuracy of
Payroll Processing
 C. Reporting
 D. Record Retention
 E. Penalties
FPC – Calculation of the Paycheck 22%
 A. Compensation/Benefits
 B. Involuntary Deductions / Taxes
 C. Voluntary Deductions (pre and post tax)
 D. Employer Taxes and Contributions
 E. Net Pay
FPC – Payroll Process and Supporting
Systems and Administration 2%
 A. Maintain master file components
 B. Concepts and Functionalities
 C. Disaster Recovery Plan
FPC – Payroll Administration and
Management – 7%
 A. Policies and Procedures (e.g., overtime, benefits,
leave)
 B. Management Skills and Practices
 C. Communication / Customer Service
FPC – Audits 5%
 A. Internal Controls
 B. Payroll System Controls
 C. Accounting Systems Controls
 D. Audit Policies and Procedures
FPC – Accounting – 4%
 A. Accounting Principles
 B. General Ledger Account Classification
 C. Payroll Journal Entry
 D. Account Reconciliation
Steps to Certification
1.
Read and review CPP or FPC Candidate Handbook
(determine exam)
http://www.americanpayroll.org/certification/
2.
Set Your goal –Written commitment to yourself
3.
Gather study material and set up a plan of action
Make sure you have allowed enough time at least 3 -6
months
5. Register for the exam http://www.pearsonvue.com/apa/
4.
Exciting NEW APA Training –
CPC and FPC Training
Certified Payroll
Professional Boot Camp
Use a variety of Education Material
 The Payroll Source or Resource Ready CD
 Pay Train
 Payroll Practice Fundamentals (FPC)
 IRS Employer Tax Guides
Testing Window
 Two Testing Windows – Spring and Fall
 APA Payroll 101 and Payroll 201 week long course provide
an opportunity to take the exam at the end of the week.
 Register for APA's free Preparing for the CPP and FPC
Exams Webinar On Demand to help you develop a plan
for success when sitting for the certification exams.
 The 2014 certification exams will be on Federal laws and
regulations as of January 1, 2014 for the period of
September 13, 2014 – September 18, 2015
Preparation Tips
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•
•
•
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Set up a Study Plan
Reduce Exam Anxiety (Relax)
Practice Using your calculator
Take Chapter Quizzes in Payroll Source or Payroll Practice
Fundamentals (FPC)
Take Practice Exam
Read question carefully
Don’t spend excessive time on one answer
Verify Gross Up questions
CPP and FPC Questions
The maximum GTL coverage amount
that is excluded from an employee’s
income is:
A. $2000.00
B. $15000.00
C. $50000.00
D. $94200.00
Which entry is used to record wages
earned but not paid?
A. Debit accrued wages; credit wages payable
B. Debit accrued wages; credit wage expense
C. Debit wages payable; credit accrued wages
D. Debit wages expense; credit wages payable
Copy A of Form W-2 must be file with
the :
A. IRS
B. SSA
C. FLSA
D. State Department of Revenue
Testing Information and Testing Tips
Testing Center Rules
 Be on time
 Bring Pearson VUE conformation number
 Two forms of Identification
 Dress appropriately to accommodate testing center
temperature (Wear layers)
 Pearson will provide whiteboard and erasable pen
Testing Rules Continued….
 IRS tables and forms are included with the testing
software
 No questions about the test are allowed
 Calculator – Only silent, non printing or solar powered
calculators are allowed. Battery operated may be
preferred given lighting in testing center
 No rest periods are schedule. Testing proctor may allow
examinee to leave but no additional time is given
Not allowed in Testing Center
 Books or notes
 Food or drink
 Smoking
 Personal belonging - purse, back pack, phone, tablet
 Pets or Children
Exam Tips
 Read each question in its entirely and watch for emphasis




on Must, Except, Best ,Not
Answer the questions you know immediately. If you
don’t know the answer mark the question to go back to.
Don’t spend too much time on a difficult question
No penalty for incorrect answer. Be sure to guess if you
don’t know the answer
Double check you have used the appropriate table
CPP and FPC Questions
The IRS provides wage-bracket
withholding tables for all of the
following pay frequencies EXCEPT:
 A. Weekly
 B. Biweekly
 C. Monthly
 D. Annual
Payroll records are required to be:
A. In paper form
B. On microfiche and paper
C. Hand written
D. In and readable, retrievable form
Summary
 Set your Goal and allow enough time
 Create a study plan
 Find a study partner
 Sign up for a local chapter CPC class or look at local


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colleges
Consider APA Bootcamp classes
Sign up for a exam date
Relax and you can achieve your goal
Believe in yourself
Celebrate
Thank you for your attention

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