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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20 reviews with a 5-star rating

  1. JIE

    Great and help

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  2. YUKA

    The book is very good. Explanation is clear and examples helped me a lot.

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  3. SARAH

    I was able to use it successfully to pass my AIPB Depreciation test.

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  4. MYRA

    I now totally understand depreciation. The information is well written and easy to follow.

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  5. NINA

    Great content

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  6. PAULA

    Manuel covered depreciation methods in an easy to understand approach.

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  7. YANG

    very clear, understandable and practical lessons and Quiz problems

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  8. JOSE

    Great material.

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  9. LORI

    I am enjoying this course.

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  10. DELIA

    More on the subject. Very informative and clear on the material.

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  11. CIELITO

    Good

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  12. XIANGHUA

    It is not hard.

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  13. ZULEMA

    This was a good refresher course for me.Easy read and good examples!

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  14. JANET

    One of the best resources I have ever seen with details about how depreciation works.

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    Something wrong with this post? Thanks for letting us know. If you can point us in the right direction...

  15. JANET

    One of the best resources I have ever seen with details about how depreciation works.

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    Something wrong with this post? Thanks for letting us know. If you can point us in the right direction...

  16. ELLEN

    This was a good refresher course for me. Learned some new information as well. Examples are helpful. Well written and easy to understand.

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  17. ELLEN

    This was a good refresher course for me. Learned some new information as well. Examples are helpful. Well written and easy to understand.

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    Something wrong with this post? Thanks for letting us know. If you can point us in the right direction...

  18. XIN

    Easy read and good examples!

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  19. XIN

    Easy read and good examples!

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  20. MUHAMMAD

    Course curriculum its really professional. Its recall my mind which I had study before.

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