4.55/5 stars (602 customer reviews)

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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$59.00
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List Price: $59.00Member Price: $49.00

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SKU: 9781938741166 Categories: ,

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 WorkBook, Online e-WorkBook

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

602 reviews

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What others are saying

  1. DEBBIE

    Haven’t finished this one yet, I’m stuck on the tax depreciation and I work for a CPA, would of been better if the book wasn’t for 2008 tax rules.

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  2. KERRIANNE

    Hadn’t done much with depreciation before, so good to have this book as a resource

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  3. DACIA

    Great. Clear explainations. Easy to follow.

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  4. KIMBERLEE

    Great practice sections. Clear explanation of different types of depreciation.

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  5. CYNTHIA

    great course. very useful.

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  6. STEPHANIE

    Good review.

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  7. THOMAS

    Good Job

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  8. AMAYA

    Gives good understanding of the different depreciation methods.

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  9. CORINA

    Felt the book was written very clearly and easy to follow. Self Tests are good in the back of the book.

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  10. JEANIE

    Fantanstic

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  11. JOYCE

    Explained depreciation in simple terms

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  12. KENNETH

    Excellent…really covers all the bases. Great reference tool.

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  13. ASTRID

    excellent review of the basics

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  14. RYAN

    Excellent

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  15. LAURA

    Depreciation is not my strong point… The guide was very helpful with the methods and calculations.

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  16. JOYCE

    Depr. changes so much and most of it is automated now. Course was a good basic course.

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  17. JILL

    Course material was concise and easy to grasp

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  18. CHERYL

    Another great course and benefical for running my business.

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  19. PATRICIA

    An informative, understandable course.

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  20. ALAN

    Although IRS can change their rules almost without notice, this course could possibly spend more time on the differences between book and tax and how to handle.

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  21. TONY

    5

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  22. KELLI

    Very well taught.

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  23. MYRIAM

    Very good, it was what I expected.

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  24. CARLOS

    Very good, easy to understand

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  25. ZHENYUAN

    Very detailed and important.

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  26. SALLY

    Very confusing – did not help me pass the exam the first time.

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  27. EMMA

    Took the course sometime ago, but benefitted greatly from it.

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  28. DARLENE

    This was a good course, and very helpful.

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  29. ROD

    This review book needs to be rewritten.

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  30. JEAN

    The course provided a good review of different methods of depreciation.

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