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
MONISOLA –
I enjoyed reading this book over and over. The examples are simple and easy to understand. It helps me greatly to pass the exam and have better knowledge of the subject. Is indeed Mastering Depreciation
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MICHAEL –
Excellent, very detailed and easy to understand.
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SCOTT –
This book does a great job of explaining Depreciation; tax and book. I really like the structure of the AIPB books; concise, easy to understand chapters with examples and plenty of problems to work in the form of 2 quizzes after each chapter. It’s hard not to learn the content! I found this book helpful in getting reacquainted with fundamentals of accounting in preparation for studying for the CPA exam. I’m glad I took the time to read this book!
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SHULING –
I find this quite helpful in relearning depreciation, I love the characterization of the accounting terms, made them easier to read and understand compared to Principle of Accounting
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JENNIFER –
I love learning the way depreciation effects businesses and taxes. Will use this portion of the course for years to come.
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JANET –
Excellent review of Acc’t 101 but with more depth & breadth as it includes alloc’n accross mfr & gen admin and it includes tax. Really good to know. Haven’t taken test yet.
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DONNA –
Depreciation was helpful in teaching me the tax laws and the ramifications on the balance sheet
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TERECITA –
Well done.
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NICOLLE –
Good
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ABELARDO –
As a tax professional, we are very familiar with IRS tables. It was very helpful to understand the different ways you can depreciate assets under GAAP. I recommend this course to bookkeepers that prepare financial statements.
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DEBORAH –
Great book!
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LORI –
Material was very good.
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LUISITO –
Understanding the concept and you can choose which type you will use. A thourough explanation of different types of depreciation.
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DORIS –
good
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ELIZABETH –
Excellent coverage of a tricky subject.
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MORAEME –
The text and content is easy to read, and the information is very practical.
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BENJAMIN –
Clear and concise explanation of all facets of depreciation, including tax.
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TIANRONG –
Great.
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TIANRONG –
Great.
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STEVE –
Good for general and basic depreciation concepts, but does not cover any advanced depreciation issues.
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STEVE –
Good for general and basic depreciation concepts, but does not cover any advanced depreciation issues.
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CYNTHIA –
Fantastic!
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GEORGIA –
This course definitely gave me a much better and more complete understanding of both GAAP (which I’ve already taken) and tax depreciation. The schedules included were very helpful as well, especially for someone like me who works in Excel daily and is more of a visual learner.
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DEBORAH –
Very Good instruction on a complex subject -presented the simple concepts fir, then built up to the complex tax portion. Very Helpful.
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JING –
very good
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LISA –
Good Information
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IRYNA –
Great course
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RINKU –
Excellent
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MIGUEL –
Nothing much to add. Only that every where else goes together with Amortization
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G –
I find it very informative & helpful. I enjoyed taking it.
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