Accounting Tools

JUNE 7, 2023

Related Courses Fixed Asset Accounting How to Audit Fixed Assets What is Accelerated Depreciation? Accelerated depreciation is the depreciation of fixed assets at a faster rate early in their useful lives. Thus, the net effect of accelerated depreciation is the deferral of income taxes to later time periods.

Financial Analysis 75

Financial Analysis Record Keeping Tax Auditing 75

Accounting Tools

SEPTEMBER 8, 2023

Related Courses Fixed Asset Accounting How to Audit Fixed Assets What is Double Declining Balance Depreciation? The double declining balance method is an accelerated form of depreciation under which most of the depreciation associated with a fixed asset is recognized during the first few years of its useful life.

Computation 40

Computation Auditing Tax Accounting 40

Accounting Tools

NOVEMBER 5, 2023

Related Courses Fixed Asset Accounting How to Audit Fixed Assets What are the Most Common Depreciation Methods? Depreciation is used to gradually charge the book value of a fixed asset to expense. It is intended to approximately reflect the decline in value of an asset over time, due to wear and tear.

Record Keeping 75

Record Keeping Auditing Tax Accounting 75

Accounting Tools

DECEMBER 23, 2023

What is the Appraisal Method of Depreciation? Under the appraisal method of depreciation, depreciation is calculated as the decline in the appraised value of an asset from the beginning to the end of a reporting period. In essence, it shows the economic loss in value of an asset over the course of a reporting period.

Auditing 40

Auditing Accounting Accounting 40

Accounting Tools

JANUARY 13, 2024

What is Depreciation? Depreciation is the systematic reduction of the recorded cost of a fixed asset. Examples of fixed assets that can be depreciated are buildings, furniture, and office equipment. The net effect of depreciation is a gradual decline in the reported carrying amount of fixed assets on the balance sheet.

Accounting 40

Accounting Accounting Auditing Tax 40

Accounting Tools

MARCH 29, 2024

Related AccountingTools Courses Business Ratios Guidebook The Interpretation of Financial Statements How to Calculate the Fixed Asset Turnover Ratio The formula for the ratio is to subtract accumulated depreciation from gross fixed assets, and divide that amount into net annual sales. Sales over the last 12 months totaled $9,000,000.

Financial Statements 40

Financial Statements 40

Accounting Tools

AUGUST 6, 2023

If the ending inventory figure is not representative of the typical inventory balance during the measurement period, then an average inventory figure can be used instead. These costs include the cost of storage space, depreciation on storage racks and forklifts, insurance, utilities, and compensation for the materials management staff.

Purchase Order 40

Purchase Order Budgeting Collections Accounting 40