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
Tammy Roberts –
Well written.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Kazi Zia Uddin –
It’s a helpful course for the beginners of Bookkeeper. New edition can be published ncluding changes of IRS laws.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Beth Axe –
The first few chapters were straightforward and then the last few were a bit confusing. More so because of the depreciation laws, not the course. The course did a good job of explaining the eccentricities of the laws.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Evelyn Baldo –
Interesting & informative
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Mohamed Helemish –
The course is amazing and parctical but needs more practice questions
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Jake T –
Well written in that it is right to the point, with examples which are realistic, and easy to follow along with.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Myrna Alviso –
The book was very informative and provide clear differences between GAAP and MACRS. The book helps me with my job as a tax professional. I like the practice quizzes and the answers with explanations.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
pravin patel –
clear and detailed explaination
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Pam Snyder –
For the most part the book is well though out and the material presented clearly. I don’t understand why some calculations round the result up or down. It doesn’t seem to follow the rules of 50 cents above is rounded up and 49 cents and below gets rounded down. Page 172 is one example. It calculates to $81,667.35, but the answer is rounded it up.to $81,668. I’m concerned the tests do this very thing. Another thing I would change is to add explanations to all the answers. Even the true true and false answers. Give a page number where the information can be found. Since the test for this topic for the certification requires a testing center, the answers for the test would be helpful.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Agustin Martinez –
The book is great, the information and the tests are understood.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
Janice Lima –
Learned a lot.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
teresa –
good information
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
MAURICE –
Had plenty of examples
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
YUMIKO –
Good samples to understand different methods.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
DEBBIE –
This course, for me needs a little hands on. I do not understand the principle.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
DARRELL –
This course gets right to the point. Clear instructions per subject, type of depreciation, fulfilled my expectations and passage of course.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
ELCE –
Good
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
LINH –
I will refer this course to my friends. It fits and the best to her.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
MEKEISHA –
I think it is a good course.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
LINDA –
Well written and very detailed
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
COLIN –
5 stars
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
JENNIFER –
I enjoyed this course. I needed to create an excel sheet to do the problems, which was not an issue. Would like to see more sceneroes on Section 179 and Bonus depreciation.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
PHUONG –
Realistic examples are always helpful for us to understand exactly the matter that we’re studying. Final exam is really helpful for us to assess our knowledge.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
REBECCA –
I feel like I have a good basic understanding of the different types of depreciation after completing this course. The depreciation for tax purposes section was quite challenging for me. Perhaps more examples can be given to practice these rules.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
TISA –
I completed the second in the series which is, “Mastering Depreciation”. I love the learning. The textbook is thorough, easy to understa, and the quizzes where appropriate. I would recommend to anyone wanting to start on receiving their bookkeeping certification.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
AMANDA –
Great information.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
THANDAR –
I understand very well all of Section. It is very clearly to understand well. I like it.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
THANDAR –
I understand very well all of Section. It is very clearly to understand well. I like it.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
ALEJANDRO –
Great over view of the different depreciation methods.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal
LAMAR –
Also very thorough and clear examples. No ambiguity in the material whatsoever…. The key are the sample tests.. Got 100% on the Prometric test.
Upvote if this was helpful (0) Downvote if this was not helpful (0) Flag for removal