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
MIR –
This book explained all parts of depreciation very easy and simple way.
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CINDY –
Very easy to understand – I would love a some more practice quizzes with the answers so I can drill more in to my head! Thanks – enjoyed the course.
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CINDY –
Very easy to understand – I would love a some more practice quizzes with the answers so I can drill more in to my head! Thanks – enjoyed the course.
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SHAHIN –
I LIKE IT
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TONYA –
Great workbook!
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ARLENE –
All six of the courses were good, but they could all use glossaries and indexes; and desk reference charts would very helpful
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ANNETTE –
Very informative course. I like the way each method of depreciation in covered one chapter at a time. Having the two quizs at the end of each chapter is very helpful.
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ANNETTE –
Very informative course. I like the way each method of depreciation in covered one chapter at a time. Having the two quizs at the end of each chapter is very helpful.
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DAVID –
good review of what I have already had.
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NOAH –
This book is clear and self-explanatory. The way the sections are structured and well laid out makes the book even more interesting and compelling to read and the end-of-section quizes reinforce one’s knowledge. I do recommend it to any accounting student.
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LOLA –
I like this book. The material presented in a easy accessible way. Variety of examples and detailed explanations help to comprehensive understanding. Reading was easy and pleasant.
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SHELIA –
excellent course reveiw
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RIFAT –
excellent.
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ANGELA –
Very good book. Explains depreciation in depth
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