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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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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13 reviews with a 4-star rating

  1. NANCY

    good book

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  2. MARY

    Well written

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  3. MARY

    Would like to take the class online.

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  4. KATHY

    The material was covered well with lots of practice problems. I learned a great deal about entering depreciation.

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  5. JOSE

    It provides everything you need to know in order to apply it and make descisions according to the company needs.

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  6. JOSE

    It provides everything you need to know in order to apply it and make descisions according to the company needs.

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  7. SUSAN

    workbook easy to understa, but its a pain in the neck physically getting to the testing office.

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  8. SUSAN

    workbook easy to understa, but its a pain in the neck physically getting to the testing office.

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  9. BARBARA

    This was a very informative course.

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  10. JAMES

    Mastering Depreciation is an excellent basic text which will give the student or business person a solid foundation and understanding of why things are done in a very clear, concise and specific way. I highly recommend the text for any business library.

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  11. MARILYN

    gave me everything I needed to understand depreciation.

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  12. CRYSTAL

    All courses I took prepared me well for the exam, were easily understood, and relevant.

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  13. RONALD

    great course and aipb needs to go to the next level from cb, more on the accounting end. I am taking my last ea exam next month. we need a higher standard to put us above the rest.

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