California Payroll Conference

CPP and FPC ExamsMary Brumm, CPPmbrumm@nvidia.comCalifornia Payroll Conference

September 11 and 12, 2014

AgendaPurpose of the ExamsChoosing the correct exam - FPC or CPPPreparing for the ExamTesting Information and Test Taking TipsResourcesSummaryPurpose of the ExamsProvide 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

BenefitsCareer developmentHeld in high esteem by your company and peersExpand your knowledge baseConsidered a payroll professional an asset to companiesDemonstrates the payroll expertise and professional development.More companies are requiring FPP or CPP designationAbility to network with peers and payroll subject matter experts

CPP or FPC Exam?Payroll Body of Knowledge DomainCPP Exam ContentFPC Exam ContentI. Core Payroll Concepts27.5%40%II. Compliance23%22%III. Principles of Paycheck Calculations20%20%IV. Payroll Process and Systems8.5%12%V. Accounting6.0%6%VI. Management and Administration15%

CPP Core Payroll Concepts 27% A. Worker StatusB. Fair Labor Standards ActC. Employment TaxesD. Employee BenefitsE. Employee / Employer FormsF. Professional ResponsibilityG. Methods and Timing of Pay

CPP - Compliance/Research and Resources 21%A. EscheatmentB. Regulatory - Maintain Compliance and Accuracy of Payroll ProcessingC. ReportingD. Record RetentionE. Penalties F. Global

CPP Calculation of the Paycheck 20%A. Compensation / BenefitsB. Involuntary Deductions / TaxesC. Voluntary Deductions (pre and post tax)D. Employer Taxes and ContributionsE. Net Pay

CPP - Payroll Process and Supporting Systems and Administration 9%A. Maintain master file componentsB. Concepts and FunctionalitiesC. Disaster Recovery PlanD. SelectionE. Implementation / UpgradesF. Maintenance / UpdatesG. Project Management

CPP - Payroll Administration and Management 10%A. Policies and Procedures (e.g., overtime, benefits, leave)B. Staffing, Employee Development, and Core CompetenciesC. Management Skills and PracticesD. Communication / Customer Service

CPP Audits 7%A. Internal ControlsB. Payroll System ControlsC. Accounting System ControlsD. Third Party ControlsE. Audit Policies and Procedures

CPP Accounting A. Accounting PrinciplesB. General Ledger Account ClassificationC. Payroll Journal EntryD. Account Reconciliation

FPC Core Payroll Concepts 40%A. Worker StatusB. Fair Labor Standards ActC. Employment TaxesD. Employee BenefitsE. Employee / Employer FormsF. Professional ResponsibilityG. Methods and Timing of Pay

FPC Compliance/Research and Resources 20%A. EscheatmentB. Regulatory - Maintain Compliance and Accuracy of Payroll ProcessingC. ReportingD. Record RetentionE. Penalties

FPC Calculation of the Paycheck 22%A. Compensation/BenefitsB. Involuntary Deductions / TaxesC. Voluntary Deductions (pre and post tax)D. Employer Taxes and ContributionsE. Net Pay

FPC Payroll Process and Supporting Systems and Administration 2%A. Maintain master file componentsB. Concepts and FunctionalitiesC. Disaster Recovery Plan

FPC Payroll Administration and Management 7%A. Policies and Procedures (e.g., overtime, benefits, leave)B. Management Skills and PracticesC. Communication / Customer Service

FPC Audits 5%A. Internal ControlsB. Payroll System ControlsC. Accounting Systems ControlsD. Audit Policies and Procedures

FPC Accounting 4%A. Accounting PrinciplesB. General Ledger Account ClassificationC. Payroll Journal EntryD. Account Reconciliation

Steps to Certification Read and review CPP or FPC Candidate Handbook (determine exam) http://www.americanpayroll.org/certification/

Set Your goal Written commitment to yourself

Gather study material and set up a plan of action

Make sure you have allowed enough time at least 3 -6 monthsRegister for the exam http://www.pearsonvue.com/apa/

Exciting NEW APA Training CPC and FPC Training

Use a variety of Education MaterialThe Payroll Source or Resource Ready CD

Pay Train

Payroll Practice Fundamentals (FPC)

IRS Employer Tax Guides

Testing WindowTwo Testing Windows Spring and FallAPA 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, 2015Preparation TipsSet up a Study Plan Reduce Exam Anxiety (Relax)Practice Using your calculatorTake Chapter Quizzes in Payroll Source or Payroll Practice Fundamentals (FPC) Take Practice Exam Read question carefullyDont spend excessive time on one answer Verify Gross Up questionsCPP and FPC Questions

The maximum GTL coverage amount that is excluded from an employees income is:$2000.00$15000.00$50000.00$94200.00Which entry is used to record wages earned but not paid?Debit accrued wages; credit wages payableDebit accrued wages; credit wage expenseDebit wages payable; credit accrued wagesDebit wages expense; credit wages payableCopy A of Form W-2 must be file with the :IRSSSAFLSAState Department of Revenue

Testing Information and Testing TipsTesting Center RulesBe on time Bring Pearson VUE conformation numberTwo forms of IdentificationDress 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 softwareNo questions about the test are allowedCalculator Only silent, non printing or solar powered calculators are allowed. Battery operated may be preferred given lighting in testing centerNo rest periods are schedule. Testing proctor may allow examinee to leave but no additional time is givenNot allowed in Testing CenterBooks or notesFood or drinkSmokingPersonal belonging - purse, back pack, phone, tabletPets or ChildrenExam TipsRead each question in its entirely and watch for emphasis on Must, Except, Best ,NotAnswer the questions you know immediately. If you dont know the answer mark the question to go back to.Dont spend too much time on a difficult questionNo penalty for incorrect answer. Be sure to guess if you dont know the answerDouble check you have used the appropriate tableCPP and FPC Questions

The IRS provides wage-bracket withholding tables for all of the following pay frequencies EXCEPT:A. WeeklyB. BiweeklyC. MonthlyD. AnnualPayroll records are required to be:In paper formOn microfiche and paperHand written In and readable, retrievable formSummarySet your Goal and allow enough timeCreate a study planFind a study partner Sign up for a local chapter CPC class or look at local collegesConsider APA Bootcamp classesSign up for a exam dateRelax and you can achieve your goalBelieve in yourselfCelebrate

Thank you for your attention

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