4.55/5 stars (617 customer reviews)

$59.00

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: 9781938741074
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Description

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 Book, Online eBook

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

617 reviews

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What others are saying

  1. Jake T (verified owner)

    Well written in that it is right to the point, with examples which are realistic, and easy to follow along with.

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  2. Myrna Alviso (verified owner)

    The book was very informative and provide clear differences between GAAP and MACRS. The book helps me with my job as a tax professional. I like the practice quizzes and the answers with explanations.

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  3. pravin patel (verified owner)

    clear and detailed explaination

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  4. Pam Snyder (verified owner)

    For the most part the book is well though out and the material presented clearly. I don’t understand why some calculations round the result up or down. It doesn’t seem to follow the rules of 50 cents above is rounded up and 49 cents and below gets rounded down. Page 172 is one example. It calculates to $81,667.35, but the answer is rounded it up.to $81,668. I’m concerned the tests do this very thing. Another thing I would change is to add explanations to all the answers. Even the true true and false answers. Give a page number where the information can be found. Since the test for this topic for the certification requires a testing center, the answers for the test would be helpful.

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  5. Agustin Martinez (verified owner)

    The book is great, the information and the tests are understood.

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  6. Janice Lima (verified owner)

    Learned a lot.

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  7. teresa (verified owner)

    good information

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  8. MAURICE (verified owner)

    Had plenty of examples

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  9. YUMIKO (verified owner)

    Good samples to understand different methods.

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  10. DEBBIE (verified owner)

    This course, for me needs a little hands on. I do not understand the principle.

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  11. DARRELL (verified owner)

    This course gets right to the point. Clear instructions per subject, type of depreciation, fulfilled my expectations and passage of course.

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  12. ELCE (verified owner)

    Good

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  13. LINH (verified owner)

    I will refer this course to my friends. It fits and the best to her.

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  14. MEKEISHA (verified owner)

    I think it is a good course.

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  15. LINDA (verified owner)

    Well written and very detailed

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  16. COLIN (verified owner)

    5 stars

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  17. JENNIFER (verified owner)

    I enjoyed this course. I needed to create an excel sheet to do the problems, which was not an issue. Would like to see more sceneroes on Section 179 and Bonus depreciation.

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  18. PHUONG (verified owner)

    Realistic examples are always helpful for us to understand exactly the matter that we’re studying. Final exam is really helpful for us to assess our knowledge.

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  19. REBECCA (verified owner)

    I feel like I have a good basic understanding of the different types of depreciation after completing this course. The depreciation for tax purposes section was quite challenging for me. Perhaps more examples can be given to practice these rules.

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  20. TISA (verified owner)

    I completed the second in the series which is, “Mastering Depreciation”. I love the learning. The textbook is thorough, easy to understa, and the quizzes where appropriate. I would recommend to anyone wanting to start on receiving their bookkeeping certification.

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  21. AMANDA (verified owner)

    Great information.

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  22. THANDAR (verified owner)

    I understand very well all of Section. It is very clearly to understand well. I like it.

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  23. THANDAR (verified owner)

    I understand very well all of Section. It is very clearly to understand well. I like it.

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  24. ALEJANDRO (verified owner)

    Great over view of the different depreciation methods.

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  25. LAMAR (verified owner)

    Also very thorough and clear examples. No ambiguity in the material whatsoever…. The key are the sample tests.. Got 100% on the Prometric test.

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  26. LORETTA (verified owner)

    Depreciation was my favorite class, because the differences between book and tax depreciation was interesting to understand. The teaching and guidance provided a strong foundation for depreciation accounting. Some of the text in the book was ambiguous and should be looked into.

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  27. ANNE (verified owner)

    Very helpful, the material is useful not just for my certification but in my day-to-day work. Very easy to follow.

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  28. JIE (verified owner)

    Great and help

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  29. YUKA (verified owner)

    The book is very good. Explanation is clear and examples helped me a lot.

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  30. CRYSTALENA (verified owner)

    The material was relevant to the exam with the exception of the sum of the years digits. The book claims it isn’t on the exam but it actually was.

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