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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  1. JANE

    Very thorough and most helpful.

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  2. JOANN

    Good overview.

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  3. JANINE

    ok

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  4. JANINE

    ok

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  5. MD

    best course .

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  6. MD

    best course

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  7. NATHANIEL

    5 stars

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  8. NATHANIEL

    5 stars

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  9. MARIZEL

    Very good refresher course on Depreciation

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  10. MARIZEL

    Very good refresher course on Depreciation

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  11. ANGEL

    Very, very practical, and pretty straightforward.The workbook is very well structured and is quite easy to follow the contents.Highly readable. Most of all, clear, direct concepts and very practical book.

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  12. ANGEL

    Very, very practical, and pretty straightforward.The workbook is very well structured and is quite easy to follow the contents.Highly readable. Most of all, clear, direct concepts and very practical book.

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  13. SAUL

    It’s really completed

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  14. SAUL

    It’s really completed

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  15. TODD

    It was very useful

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  16. TODD

    It was very useful

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  17. DEBRA

    Good coverage, good quiz material

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  18. DEBRA

    Good coverage, good quiz material

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  19. PEZHMAN

    It helpe me to understand how to depreciation the equipment, residential and non residential buildings and become familiar with different kind of depreciation methods.

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  20. TAMMIE

    Great, easy to understand. Good examples and quizzes.

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  21. NANCI

    Would like the opportunity to ask a question of the author of the final exam found in back of book.

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  22. ANNE

    Very thorough, practice problems and quizzes are helpful.

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  23. KATHRYN

    Very easy to follow and laid out perfectly. The chapter quizzes really help to master the topic.

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  24. YU

    Great materials! Kudos to the writers of this book.

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  25. TIM

    good read

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  26. RAM

    Excellent

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  27. JOYCE

    clear and concise

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  28. JOAN

    The depreciation material provided great wealth of information.

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  29. RONALD

    I have used AIPB products for over 12 years. The courses are well written and detailed. It is a great product

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  30. MIGUEL

    Depreciation is the same in my Country Colombia.

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