All Courses

Financial Accounting-Depreciation Calculation & Fixed Assets – Course Drive

Financial Accounting-Depreciation Calculation & Fixed Assets - Course Drive Depreciation calculation, straight-line method, double declining method, units of production method and disposal assets

Financial Accounting-Depreciation Calculation & Fixed Assets – Course Drive

Depreciation calculation, straight-line method, double declining method, units of production method and disposal assets

What you’ll learn

Financial Accounting-Depreciation Calculation & Fixed Assets – Course Drive

  • Accounting for property plant and Equipment
  • Recording the purchase of plant assets
  • Journalizing a lump sum purchase of fixed assets
  • The straight-line method of calculating depreciation
  • Double declining method of calculating depreciation
  • Units of the production method of calculating depreciation
  • Calculating deprecation for a part of a month or year
  • Recording capital expenditures and revenue expenditures
  • Accounting for a change in accounting estimate related to depreciable assets
  • Recording the disposal of property plant and equipment
  • Key accounting terms related to plant assets
  • The accounting cycle

Requirements

  • We should have a basic understanding of financial accounting and debits and credits

Description

We will discuss what property plant and equipment is and how to record property plant and equipment.

Multiple depreciation methods will be covered including the straight-line depreciation method, the double-declining depreciation method, and the units of production depreciation method. We will discuss the pros and cons of each depreciation method and outline a format for structuring any deprecation problem.

The straight-line method of depreciation is the easiest method to calculate and the method all other methods are derived from.

We will discuss the difference between capital expenditures and revenue expenditures, and we will cover the disposal process of property plant and equipment.

We will discuss the journal entries for property plant and equipment starting with the most straightforward transaction and building from there.

Downloadable PDF Files

Excel Practice Files

The Multiple Choice Practice Questions

Short Calculation Practice Questions

Discussion Questions

The PDF files allow us to download reference information we can use offline and as a guide to help us work through the material.

Multiple choice example question helps us improve our test-taking skills by reducing the information into the size and format of multiple-choice questions and discussing how to approach these questions.

Short calculation questions help us reduce problems that have some calculation down to a short format that could be used in multiple-choice questions. Course Drive

Who will we be learning from?

You will be learning from somebody who is a:

•    CPA – Certified Public Accountant

•    CGMA – Chartered Global Management Accountant

The Master of Science in Taxation

•    CPS – Certifies Post-Secondary Instructor

•    Curriculum Development Export

As a practicing CPA, the instructor has worked with many technical accounting issues and helped work through them and discuss them with clients of all levels. Financial Accounting-Depreciation

As a CPS and professor, the instructor has taught many accounting classes and worked with many students in the fields of accounting, business, and business applications. Course Drive

Content Includes:

  • Recording the purchase of fixed assets
  • The straight-line method of calculating deprecation
  • The double-declining balance method of calculating deprecation
  • The units of the production method of calculating deprecation
  • Calculating deprecation for a part of a month or year
  • Recording capital expenditures and revenue expenditures
  • Calculating and recording changes in accounting estimates related to depreciation
  • Recording disposals of plant assets
  • Key terms and definitions related to property plant and equipment

Who this course is for:

Download Now

Free Courses