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
Brandon Nelson –
What could be (and often is) presented as a difficult subject in most accounting textbooks, is here presented in a clear, concise, and practical manner. Perfect for the working bookkeeper looking to burnish their depreciation skills and helping their clients possibly save money!
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Tammy Roberts –
Well written.
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Evelyn Baldo –
Interesting & informative
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Mohamed Helemish –
The course is amazing and parctical but needs more practice questions
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Jake T –
Well written in that it is right to the point, with examples which are realistic, and easy to follow along with.
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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.
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Agustin Martinez –
The book is great, the information and the tests are understood.
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Janice Lima –
Learned a lot.
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teresa –
good information
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MAURICE –
Had plenty of examples
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ELCE –
Good
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LINH –
I will refer this course to my friends. It fits and the best to her.
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MEKEISHA –
I think it is a good course.
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LINDA –
Well written and very detailed
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COLIN –
5 stars
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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.
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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.
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AMANDA –
Great information.
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