Financial Accounting Depreciation Calculation Fixed Assets

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

Last updated 2022-01-10 | 4.2

- Accounting for property plant and Equipment
- Recording the purchase of plant assets
- Journalizing a lump sum purchase of fixed assets

What you'll 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

* Requirements

* We should have a basic understanding of financial accounting and debits and credits

Description

  • 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

Course content

11 sections • 117 lectures

Introduction 3 lectures

Introduction Preview 06:22

PDF - 10 Property Plant & Equipment Preview 00:08

10 Property Plant & Equipment Preview 11:14

Lump Sum Purchase 7 lectures

2 Lump Sum Purchase Preview 01:11

PDF - 20 Lump Sum Purchase Preview 00:08

20 Property Plant & Equipment Lump Sum Purchase Preview 05:56

Excel Worksheet Download Preview 00:05

Worksheet - 20 Lump Sum Purchase Preview 07:19

10 Discussion Question - Property Plant & Equipment

Define property plant and equipment and how to account for them.

Quick Comic Break Preview 00:13

Straight Line Method of Depreciation 9 lectures

3 Straight Line Method of Depreciation Preview 00:55

PDF 30 Calculating Depreciation Straight Line D & D Preview 00:08

30 Calculating Depreciation Straight Line Preview 31:15

Excel Worksheet Download Preview 00:05

Worksheet - 30 Depreciation Straight Line Ex Part 1 Preview 11:01

Worksheet - 30.1 Depreciation Straight Line Ex Part 2 Preview 11:29

20 Discussion Question - Property Plant & Equipment

Describe depreciation and what is needed to calculate it.

Multiple Choice 1 - Property Plant & Equipment Preview 04:43

Quick Comic Break Preview 00:12

Double Declining Balance Method of Depreciation 10 lectures

4 Double Declining Balance Method of Depreciation Preview 01:10

PDF - 40 Calculating Depreciation Double Declining Bal D & D Preview 00:08

40 Calculating Depreciation Double Declining Balance Preview 38:28

Excel Worksheet Download Preview 00:05

Worksheet - 40 Depreciation Ex double declining Part 1 Preview 11:01

40.1 Depreciation Ex double declining part 2 Preview 11:09

Worksheet - 40.2 Depreciation Ex double declining part 3 Preview 12:44

30 Discussion Question - Property Plant & Equipment

Describe factors that make it difficult to estimate useful life.

Multiple Choice 2 - Property Plant & Equipment Preview 07:41

Quick Comic Break Preview 00:12

Units of Production Depreciation Method 9 lectures

5 Units of Production Depreciation Method Preview 00:54

PDF - 50 Calculating Depreciation Units of Production D & D Preview 00:08

50 Calculating Depreciation Units of Production Preview 33:51

Excel Worksheet Download Preview 00:05

Worksheet - 50 Depreciation units of production Part 1 Preview 15:01

50.1 Depreciation Ex units of production Part 2 Preview 13:12

40 Discussion Question - Property Plant & Equipment

Describe the process for changes in depreciation estimates.

Multiple Choice 3 - Property Plant & Equipment Preview 07:52

Quick Comic Break Preview 00:13

Calculating Depreciation for a Partial Period 8 lectures

6 Calculating Depreciation for a Partial Period Preview 00:58

PDF - Depreciation for Partial Year Preview 00:08

Partial Year Depreciation Preview 09:48

Excel Worksheet Download Preview 00:05

Worksheet - 55 Partial Year Depreciation Preview 11:24

50 Discussion Question - Property Plant & Equipment

Compare and contrast different depreciation methods.

Multiple Choice 4 - Property Plant & Equipment Preview 10:12

Quick Comic Break Preview 00:13

Capital Expenditures and Revenue Expenditures 7 lectures

7 Capital Expenditures and Revenue Expenditures Preview 00:56

PDF - 60 Capital and Revenue Expenditures Preview 00:08

Capital and Revenue Expenditures Preview 08:25

60 Discussion Question - Property Plant & Equipment

Describe the cost principle, property plant and equipment and lump-sum purchases.

Multiple Choice 5 - Property Plant & Equipment Preview 06:44

Short Calculation 1 Preview 11:16

Quick Comic Break Preview 00:13

Changes in Accounting Estimates 9 lectures

8 Changes in Accounting Estimates Preview 00:37

PDF - 60 Change In Estimates Preview 00:08

60 Change In Estimates Preview 10:21

Excel Worksheet Download Preview 00:05

Worksheet 60 Depreciation Change of Estimate Preview 11:56

70 Discussion Question - Property Plant & Equipment

Describe revenue expenditures and capital expenditures.

Multiple Choice 6 - Property Plant & Equipment Preview 07:08

Short Calculation 2 Preview 11:31

Quick Comic Break Preview 00:20

Disposals of Property Plant and Equipment 21 lectures

9 Disposals of Property Plant and Equipment Preview 01:01

PDF - 70 Disposal - Fully Depreciated Preview 00:08

70 Disposals Fully Depreciated No Cash Received Preview 07:33

Excel Worksheet Download Preview 00:05

70.1 Worksheet – Disposals Fully Depreciated No Cash Preview 05:25

PDF - 80 Disposal - Fully Depreciated Cash Received Preview 00:08

80 Disposal Fully Depreciated & Cash Received u Preview 07:38

Excel Worksheet Download Preview 00:05

Worksheet 80 – Disposals Fully Depreciated Cash Received Preview 05:54

PDF - 90 Disposal - Not Fully Depreciated Preview 00:08

90 Disposal - Not Fully Depreciated Preview 08:26

Excel Worksheet Download Preview 00:05

Worksheet 90 – Disposals Not Fully Depreciated No Cash Preview 09:22

PDF - 100 Disposal - Not Fully Depreciated & Cash Received Preview 00:08

100 Disposal Not Fully Depreciated & Cash Received Preview 08:38

Excel Worksheet Download Preview 00:05

Worksheet 100 – Disposals Not Fully Depreciated Cash Received Preview 07:50

80 Discussion Question - Property Plant & Equipment

Describe the process for recording disposals.

Multiple Choice 7 - Property Plant & Equipment Preview 04:48

Short Calculation 3 Preview 14:16

Quick Comic Break Preview 00:21

Definitions & Key Terms 21 lectures

10 Definitions & Key Terms Preview 00:26

Accelerated Depreciation Method definition Preview 04:49

Betterments Definition - What are Betterments%3F Preview 02:12

Book Value definition - What is Book Value%3F Preview 06:07

Change in Accounting Estimate Definition - What is Change in Preview 03:47

Declining Balance Method Definition - What is Declining - Ba Preview 05:28

Depreciation Definition - What is Depreciation%3F Preview 02:33

Intangible Assets Definition -What are Intangible Assets%3F Preview 01:35

Lease Definition - What is a Lease%3F Preview 01:25

Leasehold Definition - What is Leasehold%3F Preview 01:55

Leasehold Improvements Definition - What is Leasehold Improv Preview 01:44

Lessee Definition - What is Lessee%3F Preview 01:35

Lessor Definition - What is Lessor%3F Preview 01:39

Limited Life Definition - What is Limited Life%3F Preview 03:03

Ordinary Repairs Definition - What are Ordinary Repairs%3F Preview 02:06

Plant Assets Definition - What are Plant Assets%3F Preview 02:15

Salvage Value Definition - What is Salvage Value%3F Preview 02:48

Straight-Line Depreciation definition - What is Straight-Line Depreciat Preview 04:16

Units of Production Depreciation Definition - What is Units Preview 05:47

Useful LIfe Definition - What is Useful Life%3F Preview 02:48

Quick Comic Break Preview 00:20

Comprehensive Problem 13 lectures

11 Comprehensive Problem Preview 01:40

Excel Download Preview 00:05

1 Accounting%2C Financial - Comp Prob Service Co 1 Part 1 Preview 15:01

2 Accounting%2C Financial - Comp Prob Service Co 1 Part 2 Preview 15:10

3 Accounting%2C Financial - Comp Prob Service Co 1 Part 3 Preview 15:20

4 Accounting%2C Financial - Comp Prob Service Co 1 Part 4 Preview 22:13

5 Accounting%2C Financial - Comp Prob Service Co 1 Adjusting Entries part 5 Preview 15:02

6 Comp Prob Service Co 1 Adjusting Entries part 6 Preview 20:05

7 Accounting%2C Financial - Comp Prob Service Co 1 Financial Statements part 7 Preview 15:01

8 Accounting%2C Financial - Comp Prob Service Co 1 Financial Statements part 8 Preview 16:39

9 Accounting%2C Financial - Comp Prob Service Co 1 Closing Process Part 9 Preview 10:02

10 Comp Prob Service Co 1 Closing Process part 10 Preview 10:40

Quick Comic Break Preview 00:14