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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16 reviews with a 5-star rating

  1. AYSE

    My comment for the adjusting entries applies to this section also

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  2. CHERYL

    Excellent

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  3. SOL

    Easy to follow material. The exercises are very good.

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  4. RALPH

    brought to light different methods of depreciation and how to use each one correctly.

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  5. LAURIE

    All of the AIPB continuing education books are very well done. Easy to understand verbage and a lot of examples and problems to work through. The two quizzes at the end of each chapter are extremely helpful by making it another tool to test how well you are understanding the subject matter.

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  6. JEMIL

    Above expectation

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  7. HERBERT

    GOOD

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  8. DEBORAH

    same as my review for adjusting entries

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  9. DEBORAH

    same as my review for adjusting entries

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

  10. DEBORAH

    same as my review for adjusting entries

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

  11. DEBORAH

    same as my review for adjusting entries

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  12. KIM

    Very informative and practical.

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  13. KIM

    Very informative and practical.

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  14. MD

    Professional Bookkeeper Course is a very good Accounting Learning system.It is very helpful for accounting professional. All the stuffs are Co oparetive. I like it very much.

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  15. IRMA

    Give basic information about depreciation so you can enter it. More specific information is probably for CPA’s.

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  16. LISA

    Easy to follow.

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