4.55/5 stars (601 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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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

601 reviews

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What others are saying

  1. MARGARET

    NA

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  2. MARGARET

    NA

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  3. BETH

    Liked the format and ease of study.

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  4. KENNETH

    I thought each of the courses was right on target. They were a very good source for review for me.

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  5. PATRICIA

    I found the corrections to the original printed matter difficut to follow, but the course was very good.

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  6. GAYLE

    Good, but also changes often

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  7. REBECCA

    Good information regarding Depreciation.

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  8. DENEECE

    Good

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  9. IBHATE

    GOOD

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  10. DAWN

    Easy to understand and thorough.

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  11. JEAN

    EASY TO UNDERSTAND

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  12. TERRI

    did not finish the course, but what I did was excellent

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  13. JAMES

    Depreciation provided basic detailed course coverage

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  14. NATALIE

    No comment

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  15. LYNETTE

    Extremely detailed and proved to be valuable to my additional scope of work.

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  16. ODILIA

    This book had cover every aspect of Depreciation. I am looking forward to get another book from your organization with the topics that were not cover in this one.

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  17. KATHY

    Very helpful

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  18. SHERIF

    it is very friendly user and easy to understand.

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  19. KATHI

    very helpful

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  20. LISA

    This course is very informative. I found it easy to follow and very educational.

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  21. AMOS

    This book is very detailed. I’m currently studying it as a great review of all the Depreciation methods I learned in college.

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  22. NASEEM

    It is a great help as well.

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  23. KATHLEEN

    In the past Depreciation has been a real struggle for me. After taking this course, I feel more comfortable with that aspect of accounting. I don’t think even the college courses I took (way back when)covered this subject as well as you did.

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  24. JOHN

    I really enjoyed this course. I haven’t worked on depreciation in years, and this course provided an excellent overview of different depreciation methods. In addition, the inclusion of depreciation for taxation purposes was really helpful and informative.

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  25. TINA

    I found this course to be very helpful and informative. After taking this course I really felt like I had a better understanding of depreciation.

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  26. ANN

    good info

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  27. ANTHONY

    Excellent course. Very good reference.

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  28. TIMOTHY

    A very well presentation of the course. Easy to follow and gets right to the point.

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  29. HEIDI

    Very useful course. I have always struggled with the concepts of depreciation, but this course broke it down in a way that was very easy to learn and understand.

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  30. NINA

    very detailed

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