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
My reiew was great on the materals presented but more information on other method of depreciation is needed.But I am not sure if that was only requred for the b/keeping requirments. Will be requesting Taxation manuals.
I work with a program and didn’t fully understand the meanings of different entries. This taught me the differences and why. I keep this book at my office in case I have a question.
I have not finished reading the rest of the material yet, but I am in the process.
I feel that I understand Depreciation better now and can communicate with our accounting firm on a higher level than before.
Helped with my current job duties.
Helped with my current job duties.
find course full enough
The class was great. Very Informative!
I found all subject matters to be clear and easy to follow. If you struggle with the first section of a chapter, the quiz section will surely clear up any questions you may have. I felt very confident with each subject at it’s conclusion.
great refresher
Comparison between Tax and GAAB method was really helpful.
Comparison between Tax and GAAB method was really helpful.
Comparison between Tax and GAAB method was really helpful.
Comparison between Tax and GAAB method was really helpful.
It would help to get tests back to see what was done correctly & what was missed. This was a difficult course.
It refreshed my knowledge
Great!
a great refresher course
A good book going through the various depreciation methods.
Was easy to understand and covered the material could have used a few more examples/questions to assist someone who perhaps does not have an accounting background.
Very good
It has been 9 years, but what I can remember the information covered was good.
I’m almost done with this course so I’ll go ahead and rate it! Thanks for the 2011 update!
I found the course a helpful review tool
I appreciated the material, but I found that I was lost often in trying to keep up with the lesson.
great
Good Course
good
Excellent
Before this course, I did’t know about different ways of depreciation. I was familiar with only Straight Line method. Depreciation according to tax rules is an extremely useful and professional tool