Financial Accounting-Depreciation Calculation & Fixed Assets

- Description
- Curriculum
- FAQ
- Reviews
Property plant and equipment, also known as plant assets, fixed assets, or depreciable assets is what we will cover.
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.
While calculation depreciation expense we will also calculate accumulated depreciation and book value. It’s important to remember the context we are in when calculating depreciation, the reason for the work. Test questions often do not ask for the calculation of depreciation but for accumulated depreciation or the book value because these components take a little more time and understanding and to work out.
The straight-line method of depreciation is the easiest method to calculate and the method all other methods are derived from.
The double declining depreciation method in an accelerated method, designed to depreciate more in early years a less in later years.
The units of production depreciation method uses units produced rather than time as the driver of cost allocation.
We will discuss the difference between capital expenditures and revenue expenditures, and we will cover the disposal process of property plant and equipment.
When fixed assets are disposed of they may or may not be fully depreciated and we may or may not receive cash at the point of disposal. We will discuss the journal entries for property plant and equipment starting with the most straightforward transaction and building from there.
We will also cover changes in accounting estimates for the calculation of depreciation and how best to account for them.
Definitions and key terms related to property plant and equipment will be covered as well as a comprehensive problem.
In addition to the instructional videos, this course will include downloadable
• Downloadable PDF Files
• Excel Practice Files
• 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.
Excel practice files will be preformatted so that we can focus on the adjusting process and learning some of the basics of Excel, like addition, subtraction, and cell relationships.
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.
Discussion Question will provide an opportunity to discuss these topics with the instructor and other students, a process many students find very helpful because it allows us to see the topic from different viewpoints.
Who will we be learning from?
You will be learning from somebody who has technical experience in accounting concepts and in accounting software like QuickBooks, as well as experience teaching and putting together curriculum.
You will be learning from somebody who is a:
• CPA – Certified Public Accountant
• CGMA – Chartered Global Management Accountant
• 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.
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.
The instructor also has a lot of experience designing courses and learning how students learn best and how to help students achieve their objectives. Experience designing technical courses has also benefit in being able to design a course in a logical fashion and deal with problems related to technical topics and the use of software like QuickBooks Pro.
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 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
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42 Lump Sum PurchaseVideo lesson
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5PDF - 20 Lump Sum PurchaseVideo lesson
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620 Property Plant & Equipment Lump Sum PurchaseVideo lesson
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7Excel Worksheet DownloadVideo lesson
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8Worksheet - 20 Lump Sum PurchaseVideo lesson
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910 Discussion Question - Property Plant & EquipmentText lesson
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10Quick Comic BreakVideo lesson
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113 Straight Line Method of DepreciationVideo lesson
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12PDF 30 Calculating Depreciation Straight Line D & DVideo lesson
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1330 Calculating Depreciation Straight LineVideo lesson
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14Excel Worksheet DownloadVideo lesson
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15Worksheet - 30 Depreciation Straight Line Ex Part 1Video lesson
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16Worksheet - 30.1 Depreciation Straight Line Ex Part 2Video lesson
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1720 Discussion Question - Property Plant & EquipmentText lesson
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18Multiple Choice 1 - Property Plant & EquipmentVideo lesson
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19Quick Comic BreakVideo lesson
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204 Double Declining Balance Method of DepreciationVideo lesson
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21PDF - 40 Calculating Depreciation Double Declining Bal D & DVideo lesson
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2240 Calculating Depreciation Double Declining BalanceVideo lesson
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23Excel Worksheet DownloadVideo lesson
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24Worksheet - 40 Depreciation Ex double declining Part 1Video lesson
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2540.1 Depreciation Ex double declining part 2Video lesson
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26Worksheet - 40.2 Depreciation Ex double declining part 3Video lesson
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2730 Discussion Question - Property Plant & EquipmentText lesson
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28Multiple Choice 2 - Property Plant & EquipmentVideo lesson
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29Quick Comic BreakVideo lesson
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305 Units of Production Depreciation MethodVideo lesson
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31PDF - 50 Calculating Depreciation Units of Production D & DVideo lesson
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3250 Calculating Depreciation Units of ProductionVideo lesson
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33Excel Worksheet DownloadVideo lesson
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34Worksheet - 50 Depreciation units of production Part 1Video lesson
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3550.1 Depreciation Ex units of production Part 2Video lesson
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3640 Discussion Question - Property Plant & EquipmentText lesson
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37Multiple Choice 3 - Property Plant & EquipmentVideo lesson
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38Quick Comic BreakVideo lesson
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396 Calculating Depreciation for a Partial PeriodVideo lesson
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40PDF - Depreciation for Partial YearVideo lesson
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41Partial Year DepreciationVideo lesson
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42Excel Worksheet DownloadVideo lesson
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43Worksheet - 55 Partial Year DepreciationVideo lesson
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4450 Discussion Question - Property Plant & EquipmentText lesson
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45Multiple Choice 4 - Property Plant & EquipmentVideo lesson
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46Quick Comic BreakVideo lesson
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477 Capital Expenditures and Revenue ExpendituresVideo lesson
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48PDF - 60 Capital and Revenue ExpendituresVideo lesson
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49Capital and Revenue ExpendituresVideo lesson
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5060 Discussion Question - Property Plant & EquipmentText lesson
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51Multiple Choice 5 - Property Plant & EquipmentVideo lesson
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52Short Calculation 1Video lesson
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53Quick Comic BreakVideo lesson
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548 Changes in Accounting EstimatesVideo lesson
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55PDF - 60 Change In EstimatesVideo lesson
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5660 Change In EstimatesVideo lesson
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57Excel Worksheet DownloadVideo lesson
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58Worksheet 60 Depreciation Change of EstimateVideo lesson
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5970 Discussion Question - Property Plant & EquipmentText lesson
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60Multiple Choice 6 - Property Plant & EquipmentVideo lesson
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61Short Calculation 2Video lesson
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62Quick Comic BreakVideo lesson
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639 Disposals of Property Plant and EquipmentVideo lesson
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64PDF - 70 Disposal - Fully DepreciatedVideo lesson
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6570 Disposals Fully Depreciated No Cash ReceivedVideo lesson
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66Excel Worksheet DownloadVideo lesson
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6770.1 Worksheet – Disposals Fully Depreciated No CashVideo lesson
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68PDF - 80 Disposal - Fully Depreciated Cash ReceivedVideo lesson
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6980 Disposal Fully Depreciated & Cash Received uVideo lesson
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70Excel Worksheet DownloadVideo lesson
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71Worksheet 80 – Disposals Fully Depreciated Cash ReceivedVideo lesson
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72PDF - 90 Disposal - Not Fully DepreciatedVideo lesson
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7390 Disposal - Not Fully DepreciatedVideo lesson
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74Excel Worksheet DownloadVideo lesson
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75Worksheet 90 – Disposals Not Fully Depreciated No CashVideo lesson
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76PDF - 100 Disposal - Not Fully Depreciated & Cash ReceivedVideo lesson
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77100 Disposal Not Fully Depreciated & Cash ReceivedVideo lesson
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78Excel Worksheet DownloadVideo lesson
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79Worksheet 100 – Disposals Not Fully Depreciated Cash ReceivedVideo lesson
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8080 Discussion Question - Property Plant & EquipmentText lesson
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81Multiple Choice 7 - Property Plant & EquipmentVideo lesson
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82Short Calculation 3Video lesson
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83Quick Comic BreakVideo lesson

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