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Depreciation Study Gudide
- 1. Depreciation Accounting Periods & Methods and Depreciation Copyright ©2005 by South-Western, a division of Thomson Learning. All rights reserved.
- 2. Objective Identify different accounting periods and methods allowed
- 11. Objective Describe the concept of depreciation and be able to calculate depreciation expense using MACRS tables
- 20. Objective Identify when an election to expense the cost of an asset may be used and calculate amount
- 23. Objective Define listed property and luxury automobiles ; describe the limitations placed on depreciation of these items
- 29. Objective Describe the tax treatment for goodwill and certain other intangible assets
- 31. Objective Determine whether parties are classified as ‘related’ for tax purposes and identify tax treatment of related party transactions
- 33. The End! My head hurts!
Notes de l'éditeur
- Changed “provides” to provide in second line
- Changed “see example in text” to “see example on p. 7-4”
- Changed “< $5,000,000” to $5,000,000 or less
- Changed for 3 year property “tractors” to “tractor units”
- Example 2 is a bit confusing as; 1) if assume only asset placed in service during the year would have to use the mid-quarter convention and students aren’t provided that table in the textbook or, 2) if assume additional information pertaining to example 1 (i.e., had purchased the furniture in March and now a computer – the example would be correct as would use the Table 2 on p. 7-9. If #2 then need additional information to say in addition to the purchase on March 15….
- Added “such as the” to Toyota Prius/Honda Insight as more than just the two hybrids available
- Added p. 7-21 to bullet “see complete list in text”