Financial Accounting-Depreciation Calculation & Fixed Assets

Depreciation calculation, straight line method, double declining method, units of production method and disposal assets

4.68 (293 reviews)
Udemy
platform
English
language
Accounting & Bookkeeping
category
44,892
students
12 hours
content
Jun 2019
last update
$119.99
regular price

What you will learn

Accounting for property plant and Equipment

Recording the purchase of plant assets

Journalizing a lump sum purchase of fixed assets

Straight line method of calculating depreciation

Double declining method of calculating depreciation

Units of production method of calculating depreciation

Calculating deprecation for a part of a mouth or year

Recording capital expenditures and revenue expenditures

Accounting for a change in accounting estimate related to depreciable assets

Recording the disposal of property plant and equipment

Key accounting terms related to plant assets

The accounting cycle

Description

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

Content

Introduction

Introduction
PDF - 10 Property Plant & Equipment
10 Property Plant & Equipment

Lump Sum Purchase

2 Lump Sum Purchase
PDF - 20 Lump Sum Purchase
20 Property Plant & Equipment Lump Sum Purchase
Excel Worksheet Download
Worksheet - 20 Lump Sum Purchase
Quick Comic Break

Straight Line Method of Depreciation

3 Straight Line Method of Depreciation
PDF 30 Calculating Depreciation Straight Line D & D
30 Calculating Depreciation Straight Line
Excel Worksheet Download
Worksheet - 30 Depreciation Straight Line Ex Part 1
Worksheet - 30.1 Depreciation Straight Line Ex Part 2
Multiple Choice 1 - Property Plant & Equipment
Quick Comic Break

Double Declining Balance Method of Depreciation

4 Double Declining Balance Method of Depreciation
PDF - 40 Calculating Depreciation Double Declining Bal D & D
40 Calculating Depreciation Double Declining Balance
Excel Worksheet Download
Worksheet - 40 Depreciation Ex double declining Part 1
40.1 Depreciation Ex double declining part 2
Worksheet - 40.2 Depreciation Ex double declining part 3
Multiple Choice 2 - Property Plant & Equipment
Quick Comic Break

Units of Production Depreciation Method

5 Units of Production Depreciation Method
PDF - 50 Calculating Depreciation Units of Production D & D
50 Calculating Depreciation Units of Production
Excel Worksheet Download
Worksheet - 50 Depreciation units of production Part 1
50.1 Depreciation Ex units of production Part 2
Multiple Choice 3 - Property Plant & Equipment
Quick Comic Break

Calculating Depreciation for a Partial Period

6 Calculating Depreciation for a Partial Period
PDF - Depreciation for Partial Year
Partial Year Depreciation
Excel Worksheet Download
Worksheet - 55 Partial Year Depreciation
Multiple Choice 4 - Property Plant & Equipment
Quick Comic Break

Capital Expenditures and Revenue Expenditures

7 Capital Expenditures and Revenue Expenditures
PDF - 60 Capital and Revenue Expenditures
Capital and Revenue Expenditures
Multiple Choice 5 - Property Plant & Equipment
Short Calculation 1
Quick Comic Break

Changes in Accounting Estimates

8 Changes in Accounting Estimates
PDF - 60 Change In Estimates
60 Change In Estimates
Excel Worksheet Download
Worksheet 60 Depreciation Change of Estimate
Multiple Choice 6 - Property Plant & Equipment
Short Calculation 2
Quick Comic Break

Disposals of Property Plant and Equipment

9 Disposals of Property Plant and Equipment
PDF - 70 Disposal - Fully Depreciated
70 Disposals Fully Depreciated No Cash Received
Excel Worksheet Download
70.1 Worksheet – Disposals Fully Depreciated No Cash
PDF - 80 Disposal - Fully Depreciated Cash Received
80 Disposal Fully Depreciated & Cash Received u
Excel Worksheet Download
Worksheet 80 – Disposals Fully Depreciated Cash Received
PDF - 90 Disposal - Not Fully Depreciated
90 Disposal - Not Fully Depreciated
Excel Worksheet Download
Worksheet 90 – Disposals Not Fully Depreciated No Cash
PDF - 100 Disposal - Not Fully Depreciated & Cash Received
100 Disposal Not Fully Depreciated & Cash Received
Excel Worksheet Download
Worksheet 100 – Disposals Not Fully Depreciated Cash Received
Multiple Choice 7 - Property Plant & Equipment
Short Calculation 3
Quick Comic Break

Definitions & Key Terms

10 Definitions & Key Terms
Accelerated Depreciation Method definition
Betterments Definition - What are Betterments%3F
Book Value definition - What is Book Value%3F
Change in Accounting Estimate Definition - What is Change in
Declining Balance Method Definition - What is Declining - Ba
Depreciation Definition - What is Depreciation%3F
Intangible Assets Definition -What are Intangible Assets%3F
Lease Definition - What is a Lease%3F
Leasehold Definition - What is Leasehold%3F
Leasehold Improvements Definition - What is Leasehold Improv
Lessee Definition - What is Lessee%3F
Lessor Definition - What is Lessor%3F
Limited Life Definition - What is Limited Life%3F
Ordinary Repairs Definition - What are Ordinary Repairs%3F
Plant Assets Definition - What are Plant Assets%3F
Salvage Value Definition - What is Salvage Value%3F
Straight-Line Depreciation definition - What is Straight-Line Depreciat
Units of Production Depreciation Definition - What is Units
Useful LIfe Definition - What is Useful Life%3F
Quick Comic Break

Comprehensive Problem

11 Comprehensive Problem
Excel Download
1 Accounting%2C Financial - Comp Prob Service Co 1 Part 1
2 Accounting%2C Financial - Comp Prob Service Co 1 Part 2
3 Accounting%2C Financial - Comp Prob Service Co 1 Part 3
4 Accounting%2C Financial - Comp Prob Service Co 1 Part 4
5 Accounting%2C Financial - Comp Prob Service Co 1 Adjusting Entries part 5
6 Comp Prob Service Co 1 Adjusting Entries part 6
7 Accounting%2C Financial - Comp Prob Service Co 1 Financial Statements part 7
8 Accounting%2C Financial - Comp Prob Service Co 1 Financial Statements part 8
9 Accounting%2C Financial - Comp Prob Service Co 1 Closing Process Part 9
10 Comp Prob Service Co 1 Closing Process part 10
Quick Comic Break

Screenshots

Financial Accounting-Depreciation Calculation & Fixed Assets - Screenshot_01Financial Accounting-Depreciation Calculation & Fixed Assets - Screenshot_02Financial Accounting-Depreciation Calculation & Fixed Assets - Screenshot_03Financial Accounting-Depreciation Calculation & Fixed Assets - Screenshot_04

Reviews

Itzel
December 13, 2020
It's very easy to follow the course, with the instructor being very clear and with the exercises I can practice more.
Samantha
August 30, 2020
The course was really good, learnt lump sump purchases which I was unsure how to allocate costs. The course goes through really good definitions and examples. Shame it didn't have a practical excel depreciation schedule to got through at the end.
Christine
March 25, 2020
It is a good match. I appreciate the large items on the slides and the ability to download material. The presenter is easy to hear and understand
Lynn
October 4, 2019
This was a very in depth comprehensive course. I knew it was long when I signed up, so i did it over a couple weeks. Very informative. I do understand that you would need to know excel to follow along, there was a lot of tips and tricks and little lessons on excel during the process, which I, personally thought added to the over all time. Perhaps a pre-req would be some knowledge of excel, so all those basic excel functions wouldn't be necessary? Overall, great information on depreciation and disposals, very informative and the downloads will be very helpful as I apply this information to my books.
Susan
August 26, 2019
I feel that there was perhaps a little too much repetition and I would preferred more active participation in multiple choice questions. The resource tools are excellent. Overall I enjoyed the course and feel I have more knowledge about depreciation and fixed assets than before. Thank you.
Pollyanne
August 10, 2019
This is perfect for me. I learned all of this 20 years ago, but did not use it and have needed a refresher. This is all mirroring my Fixed Asset training at work right now.
Trina
November 13, 2018
From this instructor's level of detail, examples that were provided, to his speed were all exceptional. I would like to know what other courses this instructor teaches.
Ivana
August 18, 2018
Another excellent course by Bob! Very hands-on and down-to-earth with detailed demonstration of how it all should be done and presented in Excel in practice. The explanations are easy to understand and follow. Only a person with extensive knowledge and a lot of practical experience in the field is able to present accounting topics in such an engaging and easy-to-understand way. I highly recommend this and other accounting courses by the same instructor.
Jenny
May 29, 2018
The course does a great job of focusing in on depreciation in a detailed why that I have not seen any other place.

Coupons

DateDiscountStatus
9/28/2019100% OFF
expired
4/1/2020100% OFF
expired
4/28/2020100% OFF
expired
5/23/2020100% OFF
expired
6/16/2020100% OFF
expired
7/18/2020100% OFF
expired
7/31/2020100% OFF
expired
8/31/2020100% OFF
expired
9/20/2020100% OFF
expired
12/24/2020100% OFF
expired
1/29/2021100% OFF
expired
3/1/2021100% OFF
expired
4/29/2021100% OFF
expired
6/29/2021100% OFF
expired
10/1/2021100% OFF
expired
1/27/2022100% OFF
expired
1/31/2022100% OFF
expired
2/9/2022100% OFF
expired
2/17/2022100% OFF
expired
2/26/2022100% OFF
expired
3/14/2022100% OFF
expired
3/24/2022100% OFF
expired
4/1/2022100% OFF
expired
4/19/2022100% OFF
expired
5/7/2022100% OFF
expired
5/14/2022100% OFF
expired
5/23/2022100% OFF
expired
6/8/2022100% OFF
expired
6/16/2022100% OFF
expired
7/10/2022100% OFF
expired
7/16/2022100% OFF
expired
7/28/2022100% OFF
expired
8/6/2022100% OFF
expired
8/14/2022100% OFF
expired
8/19/2022100% OFF
expired
9/7/2022100% OFF
expired
9/11/2022100% OFF
expired
9/19/2022100% OFF
expired
10/6/2022100% OFF
expired
10/13/2022100% OFF
expired
10/20/2022100% OFF
expired
11/7/2022100% OFF
expired
11/14/2022100% OFF
expired
11/21/2022100% OFF
expired
12/6/2022100% OFF
working

Charts

Price

Financial Accounting-Depreciation Calculation & Fixed Assets - Price chart

Rating

Financial Accounting-Depreciation Calculation & Fixed Assets - Ratings chart

Enrollment distribution

Financial Accounting-Depreciation Calculation & Fixed Assets - Distribution chart

Related Topics

1701240
udemy ID
5/17/2018
course created date
9/28/2019
course indexed date
Bot
course submited by