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
AYSE –
My comment for the adjusting entries applies to this section also
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CHERYL –
Excellent
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SOL –
Easy to follow material. The exercises are very good.
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RALPH –
brought to light different methods of depreciation and how to use each one correctly.
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LAURIE –
All of the AIPB continuing education books are very well done. Easy to understand verbage and a lot of examples and problems to work through. The two quizzes at the end of each chapter are extremely helpful by making it another tool to test how well you are understanding the subject matter.
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JEMIL –
Above expectation
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HERBERT –
GOOD
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DEBORAH –
same as my review for adjusting entries
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DEBORAH –
same as my review for adjusting entries
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DEBORAH –
same as my review for adjusting entries
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DEBORAH –
same as my review for adjusting entries
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KIM –
Very informative and practical.
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KIM –
Very informative and practical.
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MD –
Professional Bookkeeper Course is a very good Accounting Learning system.It is very helpful for accounting professional. All the stuffs are Co oparetive. I like it very much.
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IRMA –
Give basic information about depreciation so you can enter it. More specific information is probably for CPA’s.
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LISA –
Easy to follow.
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