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
IRIS –
Very good. I also remembered a lot from my accounting days. Some assumptions were made on the questions but the info was very clear.
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RHONDA –
Unless calculating depreciation (in all it’s options) is a normal part of your routine, I would suggest you read through this course twice before taking the final exam. Since, for me, depreciation has never been part of my normal routine (a task left to the tax accountant at year end) my only responsibility, relating to depreciation entries, was to complete the year-end journal entry amounts as advised by the accountant. After completion of this course, I have acquired the knowledge and understanding of the depreciation process, but would need much more consistent, real-life experience before feeling confident performing depreciation calculations. Definitely a course worth taking, even if not within your normal assigned/requested responsibilities. Another plus is the Continuing Professional Education Credits towards the CB title/certification – so can’t go wrong there!
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JIGNASA –
Very detailed, easy to understa, concrete examples and practice questions & exercise with answers makes it even better to understand and gain confidence.
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JIGNASA –
Very detailed, easy to understa, concrete examples and practice questions & exercise with answers makes it even better to understand and gain confidence.
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ROY –
Good comprehensive overview of Depreciation and the ledger entries needed.
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ROY –
Good comprehensive overview of Depreciation and the ledger entries needed.
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JULIE –
This course really drills you on the different methods of depreciation. I found it both challenging and very helpful.
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JULIE –
This course really drills you on the different methods of depreciation. I found it both challenging and very helpful.
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MEI –
Good for study.
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MEI –
Good for study.
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SANDRA –
Excellent
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KAREN –
A strong overview. Other than a couple of typographical errors in the text, it appeared to cover topic thoroughly. I felt I had a much better understanding of the options for depreciation and specifically the difference between GAAP and tax methods. The only add might be somewhat more rigorous end of chapter quizzes.
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WALLACE –
I have not taken CB exam on Depreciation yet although I am currently studying & doing quizzes. I will be doing final exam for submission to AIPB prior to taking this part of exam at Prometric.
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ANGELA –
The book gives a lot of details so it is very easy to understand. There are a lot of ‘rules’ to remember but still it is not too difficult
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DOREEN –
I haven’t taken the test yet but the course is very helpful
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MAY –
Good coverage of the different types of depreciation.
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CELIA –
The included Quiz study are extremely helpful. Easy to understand and the examples are great and easy to follow.
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EILEEN –
Very easy to understand.
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SUSANNE –
Helpful.
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CAROLE –
Some of the probems were ambiguous and I felt at time even tricky.
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KERI –
Very well written.
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COURTNEY –
Great book, it has really helped me to learn more about depreciating different things according to GAAP
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YVELISSE –
Explains all the methods in a very understanding way
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AMY –
Mostly familiar with straight line depreciation was a great lesson for me and again the manual is very well organized and educational.
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NANCY –
It was explained really well.
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MADELYNE –
I really appreciate the methodical way you step through the concepts and that you have lots of examples and lots of independent exercises to do.
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PATRICIA –
Great book. Easy to understand. Lots of examples and explanations.
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YOLANDA –
This course is practical and helpful but you should show more complex examples.
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CAROL-ANN –
The material was quite clear and easy to follow. The quizzes were structured perfectly and aid in retention if repeated two or three times.
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TAMMY –
Great again. But a CPA must prepare our depreciation schedulle
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