California Employment Development Department Promoting economic growth by providing services to keep employers, employees, and job seekers competitive

Who We Are

Who We Are

Who We Are Nearly 9,000 employees Over 400 office locations Headquartered in Sacramento, CA Collect over $59 billion in tax revenue Process over 39 million employer / claimant records

What We Do Promote economic growth by providing programs and services that connect California employers with job seekers Administer programs Unemployment Insurance Disability Insurance Paid Family Leave Workforce Investment Act of 1998 Federal Program Employment Training Tax collection UI, DI, ETT, PIT LMI Data

What I Do Accountant I (Specialist) Special Processes Group Responsible for daily FUTA re-certifications Average workload of 150 – 250 turns Provide verification of UI taxable wages and payments made, late payments and remaining balances

Opportunities Are Ripe For Budding Accountants! Accounting Technician Mortgage Loan Accountant Tax Technician Budget Analyst Budget Technician Payroll Auditor Accountant I Chief Financial Officer Accountant Trainee Lifeguard Accounting Officer Accounting Analyst Accounting Administrator I/II

Accounting Functions Analyzing Communication Recording Interpreting Classifying Summarizing Reporting Interpreting Communication

Accounting Cycle Identification / measurement of transactions Journalization Posting Trial Balance Adjustments/Adjusted Trial Balance Statement Preparation Closing Post-closing Trial Balance (optional) Reversing Entries (optional)

Basic Accounting Equation Liabilities Equity Assets

State Government Accounting Equation Liabilities Fund Balance Assets

Tax Collection Terminology An official examination of the payment history of a registered business legally required to make periodic tax payments Example: an IRS audit made on a toy manufacturer for tax year ended Dec. 31, 2010 Audit Money that must be paid to a federal, state or local government Example: an Unemployment Insurance tax paid by a plumbing contractor for the tax quarter ended March 31, 2011 Tax A legally enforceable right to keep the property of a business until its tax debt obligations have been satisfied Example: an official State of California lien imposed on an LLC operating a chain of restaurants for a long history of non payment of taxes owed Lien A demand for the outstanding balance of taxes due in addition to any late payment penalties, fees and fines Example: an official State of California bank levy imposed on a paint manufacturer for a long history of non payment of taxes owed Levy

Tax Collection Terminology An official periodic report of wages paid by and the tax amounts due from an employer Example: an Annual FUTA Employer Return filed by a bridal shop owner for tax year ended Dec. 31, 2010 Return The issuance of an abstract verifying an employer’s payment history in a particular tax period Example: an Employer Abstract for tax year ended Dec. 31, 2008 Certification The latest time or date by which a tax payment must be sent prior to the issuance of delinquency notices Example: an IRS deadline for filing 940 Return for tax year ended Dec. 31, 2012 Deadline

Annual Tax Calculation Example Sam’s Sunnyside Resort Quarter ended UI Taxable Wages ($) Rate (%) UI Contribution ($) March 31 35,000 6.2 June 30 70,000 September 30 60,000 December 31 7,000 TOTAL UI Contribution = UI Taxable Wages x Rate / 100

Annual Tax Calculation Example Sam’s Sunnyside Resort Quarter ended UI Taxable Wages ($) Rate (%) UI Contribution ($) March 31 35,000 6.2 2,170 June 30 70,000 4,340 September 30 60,000 3,720 December 31 7,000 434 TOTAL 172,000 10,664