PPT-Depreciation Accounting

BY ASST PROF DR J SAHA DEPARTMENT OF COMMERCE Depreciation Accounting Definition A measure of the wearing out consumption or other loss of value of depreciable assets . Chapter . 12. Accrued depreciation. Age-life method. Book value. Capitalized income method. Cost basis. Cost-to-cure method. Curable depreciation. Curable postponed. Current-value accounting. Deferred maintenance. Reference sections: 123(2) and Schedule II. . PART-A. 1- Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life. The depreciable amount of an asset is the cost of an asset or other amount substituted for cost, less its residual value. The useful life of an asset is the period over which an asset is expected to be available for use by an entity, or the number of production or similar units expected to be obtained from the asset by the entity. Depreciation and Bad Debts. Outline of Lecture. Depreciation. Bad Debts. Provision for Bad Debts. Exercises. Lecturer: Chara Charalambous . 3. Depreciation. According to IAS 16 ‘Depreciation is the measure of the cost of the tangible - fixed asset that has been consumed during the period’ . & . Analysis. Stan . Bevers. Professor & Ext. Economist. Texas . A&M . AgriLife. Extension Service. Vernon, TX. April 2, 2013. The Changing Role of Risk in Livestock Production Management. Chapter . 12. Accrued depreciation. Age-life method. Book value. Capitalized income method. Cost basis. Cost-to-cure method. Curable depreciation. Curable postponed. Current-value accounting. Deferred maintenance. What is Depreciation?. Decreasing the value of a fixed asset over its useful life. What do we Depreciate?. FIXED ASSETS . Examples: . Office Furniture. Automobile. Building. Except Land. We do not depreciate . in Accrual Accounting. . G.vijaya. . kumar. . Prof.nac. Introduction:. . Schedule XIV has been replaced with schedule II for depreciation calculation. Depreciation. – the reduction in value of an asset. Used to reflect remaining value of an asset over its useful life.. Book Depreciation. – used by corporations for internal financial accounting. Chapter . 12. Accrued depreciation. Age-life method. Book value. Capitalized income method. Cost basis. Cost-to-cure method. Curable depreciation. Curable postponed. Current-value accounting. Deferred maintenance. 3615. ENGINEERING ECONOMICS . WITH SOCIAL AND GLOBAL IMPLICATIONS. 1. Engineering Economics and.... Chapter Outline. Basic Aspects of Depreciation. Straight-Line Depreciation. Declining Balancing. Modified Accelerated Cost Recovery System (. Income Tax Fundamentals 2011 . Gerald E. . Whittenburg. &. Martha Altus-. Buller. Student Copy. 2011 Cengage Learning. Accounting Periods. Partnerships/S-Corporations may elect to adopt a different fiscal tax year from the one prescribed on previous slide, but only. J C. Hobbs. Extension Tax Specialist. 580-237-7677. jc.hobbs@okstate.edu. Depreciation Tools. Based upon 2017 Tax Laws. Options available. Use in Income Tax Management. Depreciation. What is depreciable? (Machinery, equipment, vehicles, certain livestock, buildings, and other farm assets with a useful life greater than one year.). Resource 2016. Local Government Corporation. Capital Assets. Certified Continuing Professional Education Class. 2. -hour credit. Must remain for the entirety of the class to receive CPE credit. Must sign in and sign out to receive CPE credit. 16th . Edition. Kieso . ●. . Weygandt . ●. . Warfield. . Identify . types of accounting changes and understand the accounting for changes in accounting principles. .. Describe . the accounting for changes in estimates and changes in the reporting entity..