Financial Accounting Nine: Calculating Depreciation And Fixed Assets Transactions
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Summary
- Certificate of completion - Free
- Tutor is available to students
Overview
This course includes lifetime access so you can complete it at your own speed.
This course is designed for those interested to learn the basics of depreciation methods such as straight line, double declining balance, and units of production depreciation which will help you determine and estimate the calculation of depreciation of fixed assets and how best to account for them.
Benefits of taking this course include:
- Unlimited and lifetime access to the course
- Learn the course at your own pace
- Course can be accessed on any platform
- 24/7 Customer support
Course media
Description
This course will cover plant assets, fixed assets, and depreciable assets. It will also discuss what property plant and equipment is as well as how to record it. This course also includes multiple depreciation methods. Pros and cons of each depreciation method will be discussed.
This course aids in calculating accumulated depreciation and book value. We will also calculate accumulated depreciation and book value. It’s critical to remember the context we are in when calculating depreciation and the reason behind it.
We will discuss depreciation methods like the straight-line method of depreciation which is the simplest method to calculate and the one which all other methods are based off, then the double-declining depreciation method which is an accelerated method. It is designed to depreciate more in earlier years than in later years, then the units of production depreciation method utilizes units produced rather than time as the derivation of cost allocation.
We will also discuss the journal entries for property plant and equipment beginning with the most straightforward transaction and building up from there and we will include changes in accounting estimations for the calculation of depreciation and the best way to account for them.
Who this course is for:
- Accounting students
- Business owner
- Business professionals
- Anyone who wants to learn accounting
The Financial Accounting Nine: Calculating Depreciation And Fixed Assets Transactions will cover the following topics:
Section 1 - Introduction
- Depreciation Methods And Accounting For Fixed Assets Overview
- Property Plant And Equipment
Section 2 - Lump Sum Purchase
- Lump Sum Purchase Overview
- Property Plant And Equipment Lump Sum Purchase
- Worksheet – Lump Sum Purchase
- Discussion Question
Section 3 - Straight Line Method Of Depreciation
- Straight Line Method Of Depreciation Overview
- Calculating Straight Line Depreciation
- Straight Line Depreciation Example – Part One
- Straight Line Depreciation Example – Part Two
- Multiple Choice Question – Property Plant And Equipment
- Discussion Question
Section 4 - Double Declining Balance Method Of Depreciation
- Double Declining Balance Method Of Depreciation Overview
- Calculating Depreciation Double Declining Balance
- Double Declining Depreciation Example – Part One
- Double Declining Depreciation Example – Part Two
- Double Declining Depreciation Example – Part Three
- Multiple Choice Question – Property Plant And Equipment
- Discussion Question
Section 5 - Units Of Production Depreciation Method
- Units Of Production Depreciation Method Overview
- Calculating Depreciation Units Of Production
- Depreciation Units Of Production – Part One
- Depreciation Units Of Production – Part Two
- Multiple Choice Question – Property Plant And Equipment
- Discussion Question
Section 6 - Calculating Depreciation For A Partial Period
- Calculating Depreciation For A Partial Period Overview
- Partial Year Depreciation – Part One
- Partial Year Depreciation – Part Two
- Multiple Choice Question – Property Plant And Equipment
Section 7 - Capital Expenditures And Revenue Expenditures
- Capital Expenditures And Revenue Expenditures Overview
- Capital And Revenue Expenditures
- Multiple Choice Question – Property Plant And Equipment
- Test Questions Part One – Depreciation And Fixed Assets
- Discussion Question
Section 8 - Changes In Accounting Estimates
- Changes In Accounting Estimates Overview
- Change In Estimates
- Depreciation Change Of Estimate
- Multiple Choice Question – Property Plant And Equipment
- Test Questions Part Two – Depreciation And Fixed Assets
- Discussion Question
Section 9 - Disposals Of Property Plant And Equipment
- Disposals Of Property Plant And Equipment Overview
- Disposals – Fully Depreciated No Cash Received
- Worksheet – Disposal Fully Depreciated No Cash Received
- Disposal – Fully Depreciated And Cash Received
- Worksheet – Disposals Fully Depreciated Cash Received
- Disposal – Not Fully Depreciated
- Worksheet – Disposal Not Fully Depreciated No Cash
- Disposal – Not Fully Depreciated And Cash Received
- Worksheet – Disposal Not Fully Depreciated Cash Received
- Multiple Choice Question – Property Plant And Equipment
- Test Questions Part Three – Depreciation And Fixed Assets
- Discussion Question
Section 10 - Definitions And Key Terms
- Accelerated Depreciation Method
- Betterments
- Book Value
- Change In Accounting Estimate
- Declining Balance Method
- Depreciation
- Intangible Assets
- Lease
- Leasehold
- Leasehold Improvements
- Lessee
- Lessor
- Limited Life
- Ordinary Repairs
- Plant Assets
- Salvage Value
- Straight-Line Depreciation
- Units Of Production Depreciation
- Useful Life
Section 11 - Comprehensive Problem
- Comprehensive Problem Overview
- Comprehensive Problem Service Company – Part One
- Comprehensive Problem Service Company – Part Two
- Comprehensive Problem Service Company – Part Three
- Comprehensive Problem Service Company – Part Four
- Comprehensive Problem Service Company Adjusting Entries – Part Five
- Comprehensive Problem Service Company Adjusting Entries – Part Six
- Comprehensive Problem Service Company Financial Statements – Part Seven
- Comprehensive Problem Service Company Financial Statements – Part Eight
- Comprehensive Problem Service Company Closing Process – Part Nine
- Comprehensive Problem Service Company Closing Process – Part Ten
- Downloadable Materials – Calculating Depreciation and Fixed Assets Transactions
Who is this course for?
This course is designed for those interested to learn the basics of depreciation methods such as straight line, double declining balance, and units of production depreciation which will help you determine and estimate the calculation of depreciation of fixed assets and how best to account for them.
Requirements
No prior knowledge is required to take this course.
Career path
None
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Certificates
Certificate of completion
Digital certificate - Included
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