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Mastering Depreciation

This class was created by Brainscape user Erinne M Perry. Visit their profile to learn more about the creator.

By: Erinne M Perry
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Decks in this class (8)

Section 1 - Depreciation on the Financial Statements vs. Tax Return
When a _____ is performed the cpa...,
The matching principle requires 2,
The fixed in fixed assets means 3
50  cards
Section 2 - Depreciation under GAAP
What is a fixed asset 1,
Under the straight line method an...,
The declining balance is multiple...
51  cards
Section 3 - The Straight Line Method of Depreciation
To ensure students understand how to calculate full-year and partial-year depreciation using the straight-line method.
21  cards
Section 4 - Units of Production Method
To ensure students understand how to calculate depreciation using the Units of Production method.
20  cards
Section 5 - The Declining Balance Method of Depreciation
To ensure students understand how to calculate full-year and partial-year depreciation using the declining balance method.
21  cards
Section 6 - The-Sum-of-the-Years' Digits Method
To ensure students understand how to calculate full-year and partial-year depreciation using the sum-of-the-years-digits method.
21  cards
Section 7 - Depreciation Under Federal Income Tax Depreciation Rules
To ensure students understand the difference between GAAP and IRS depreciation rules and how to use the IRS prescribed depreciation rate tables.
60  cards
Section 8 - Tax Depreciation of Vehicles
To ensure students understand how to handle depreciation for vehicles for IRS purposes using the prescribed depreciation rate tables.
33  cards

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Mastering Depreciation

  • Class purpose General learning

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