4.55/5 stars (601 customer reviews)

$59.00

Learn to compute and record depreciation for book and tax purposes; the 4 major methods of GAAP depreciation; MACRS depreciation for tax purposes, including Section 179 deductions; and tax depreciation for cars, SUVs and other vehicles. Double-quiz in each section assures that you master it.

ISBN: 9781938741166
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$59.00
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Description

204 pages [122 self-teaching + 82 self-quizzes with detailed answers]

Section 1: Depreciation for book v. tax purposes. Two ways to compute depreciation. Recording depreciation if the financial statements must undergo a compilation or review.

Section 2: Depreciation under GAAP (for book purposes). Determining the cost of an individual asset v. group of assets v. contributed assets under generally accepted accounting principles (GAAP). Determining the asset’s estimated life, residual value and book value. Journal entries for a manufacturing v. nonmanufacturing company. How depreciation appears on the financial statements.

Section 3: The straight-line method. How to compute, allocate and book straight-line depreciation. How to set up and maintain the depreciation schedule using this method.

Section 4: The units of production method. How to compute, allocate and book units of production depreciation. How to set up and maintain the depreciation schedule using this method.

Section 5: The declining balance method. How to compute, allocate and book declining balance depreciation. How to set up and maintain the depreciation schedule using this method.

Section 6: The sum-of-the-years’-digits method. How to compute, allocate and book sum-of-the-years’-digits depreciation. How to set up and maintain the depreciation schedule using this method.

Section 7: Depreciation for tax purposes. How to depreciate equipment and buildings under MACRS. How to apply the half-year convention . . . mid-quarter convention . . . mid-month convention. How to use IRS tables. Applying the Section 179 deduction. How to set up and maintain the tax depreciation schedule.

Section 8: Depreciating vehicles for tax purposes. Annual IRS limits for cars. How IRS limits apply to unmodified SUVs, pickups and vans weighing up to 6,000 lbs. Sec. 179 and depreciation if these vehicles are modified or weigh over 6,000 lbs. How to handle employee personal use of company vehicles in a sole proprietorship, S corp, C corp or partnership. How to set up and maintain the tax depreciation schedule.

Publisher: AIPB

Additional information

Book Type

Softcover Book, Online eBook

Series

Certified Bookkeeper Course Series: Everything you need to study for the national CB exam

  • Complete preparation for the national Certified Bookkeeper exam!
  • Double-quiz in every workbook section assures mastery of every skill!
  • Workbook quiz questions mimic the national exam questions!

 

 

 

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4.55 out of 5 stars

601 reviews

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11 reviews with a 4-star rating

  1. CAROL

    This course and the inventory course were the two I had to spend the most time on. Glad I did because it rounded out my abilities as an accounting person.

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  2. KARRY

    The depreciation course did cover all the important aspects of this area of accounting. I felt this course was well prepared and would be a good introduction for depreciation concepts.

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  3. AHMAD

    not all the depreciation methods are included, but still easy and very well educating books.

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  4. BONNIE

    It has been quite a while since I took these courses but I thought they were all easy to follow, gave good practice questions and gave a good overview of the subject.

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  5. MICHELLE

    Helpful in understanding a topic addressed once a year

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  6. CINDY

    good

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  7. DAVID

    Excellent review and reinforcement source.

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  8. FRANK

    ALTHOUGH I DID NOT TAKE THE COURSE ONLINE, THE BOOK WAS VERY HELPFUL AND SO WAS THE CLASS INSTRUCTOR.

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  9. LINDA

    A thorough course on methods of depreciation. Explains formulas and methods very well.

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  10. JOSEPH

    Very good

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  11. HELEN

    Rate 4 stars

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