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
DONNA –
I am getting ready it has been a good book to help me prepare for the exam
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LORETA –
helpfull examples
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DEBBIE –
Haven’t finished this one yet, I’m stuck on the tax depreciation and I work for a CPA, would of been better if the book wasn’t for 2008 tax rules.
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KERRIANNE –
Hadn’t done much with depreciation before, so good to have this book as a resource
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DACIA –
Great. Clear explainations. Easy to follow.
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KIMBERLEE –
Great practice sections. Clear explanation of different types of depreciation.
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CYNTHIA –
great course. very useful.
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STEPHANIE –
Good review.
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THOMAS –
Good Job
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AMAYA –
Gives good understanding of the different depreciation methods.
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CORINA –
Felt the book was written very clearly and easy to follow. Self Tests are good in the back of the book.
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JEANIE –
Fantanstic
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JOYCE –
Explained depreciation in simple terms
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KENNETH –
Excellent…really covers all the bases. Great reference tool.
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ASTRID –
excellent review of the basics
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RYAN –
Excellent
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LAURA –
Depreciation is not my strong point… The guide was very helpful with the methods and calculations.
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JOYCE –
Depr. changes so much and most of it is automated now. Course was a good basic course.
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JILL –
Course material was concise and easy to grasp
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CHERYL –
Another great course and benefical for running my business.
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PATRICIA –
An informative, understandable course.
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ALAN –
Although IRS can change their rules almost without notice, this course could possibly spend more time on the differences between book and tax and how to handle.
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TONY –
5
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KELLI –
Very well taught.
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MYRIAM –
Very good, it was what I expected.
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CARLOS –
Very good, easy to understand
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ZHENYUAN –
Very detailed and important.
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SALLY –
Very confusing – did not help me pass the exam the first time.
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EMMA –
Took the course sometime ago, but benefitted greatly from it.
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DARLENE –
This was a good course, and very helpful.
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