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Depreciation Accounting
Rating: 4.7 out of 5(54 ratings)
643 students

Depreciation Accounting

For IGCSE/ O level, A level, AAT level 2 & 3, ACCA, CAT, FIA and university 1st year students
Created byMd Ilias Rubel FCCA, MBA
Last updated 7/2023
English

What you'll learn

  • What is depreciation
  • Straight line method of depreciation
  • Reducing balance / Diminishing balance method
  • Units basis
  • Question practice
  • Get a certificate at the end

Course content

2 sections • 8 lectures • 1h 22m total length

  • What is depreciation9:20

    Define depreciation and its purpose to spread asset cost over useful life, cover straight-line, diminishing balance, and production methods, and explain depreciable amount, residual value, and accumulated depreciation.

  • Straight line method10:49

    Explore the straight line depreciation method, calculating annual depreciation as cost minus residual value divided by useful life, with examples showing depreciation charges, accumulated depreciation, and carrying amount.

  • Reducing balance/ Diminishing method8:52

    Explore the diminishing balance method of depreciation, applying a fixed percentage to the carrying amount each year to calculate annual depreciation charges, accumulated depreciation, and carrying value.

  • Units of production method7:35

    Use the units of production method to depreciate assets by charging based on actual usage, calculated as units produced over lifetime divided by total units, times cost minus residual value.

  • Assets bought part way through9:17

    Explore how assets bought partway through the year affect depreciation, comparing full-year depreciation with pro-rata month-by-month. See straight-line calculations, accumulated depreciation, and carrying amount through year-end examples.

  • Depreciation accounting20:29

    Learn how depreciation affects the income statement and balance sheet, record journal entries for depreciation using straight-line method, and track depreciation charges and accumulated depreciation through t-accounts and ledgers.

  • Test your learning15:46

    Practice session on depreciation of non-current assets, reinforcing accruals and matching concepts, consistency across methods (straight line, diminishing balance, units basis), and calculating carrying amounts, accumulated depreciation, and residual value.

Requirements

  • No prior knowledge needed but having some bookkeeping knowledge is advantageous.

Description

Learn everything about depreciation accounting , boost your CV & exam confidence.

This is a comprehensive Accounting & Bookkeeping course which will increase your confidence in daily accounting work.

This course is will help you to pass AAT level 2 & 3, CAT, ACCA, AQA A level accounting exam as well as other professional & academic exams.

The course is developed with years of research , guided by a Chartered Accountant & experienced UK lecturer.

You may claim CPD hours after course completion.


"Your tutor is here to help "Depreciation"

Master your depreciation knowledge with the help of expert tutor on demand. Watch our tutorials from your classroom at your own flexibility, practice & gain exam confidence.

You will get 20+ videos on financial accounting accounting as bonus.

Quality education at an affordable price.

A must do course for AQA A level Accounting, AAT,ACCA, FIA, CIMA,ICAEW & University 1st year Accounting students.


Curriculum

Your online classroom

  • What is depreciation

  • Straight line method of depreciation

  • Diminishing/ Reducing balance method

  • Units of production method

  • Assets acquired partway through

  • Accounting for depreciation

  • Test your learning

  • Bonus video

Financial accounting playlist



This course enables to understand basic concept of Depreciation on Fixed assets. It covers the various methods of calculating depreciation - Straight Line Method (SLM), Reducing Balance Method (RBM)/ Written Down Value Method (WDV), Sum of Years Digit Method and Annuity Method and corresponding accounting treatment i.e Passing of Journal Entries and Posting of Journal Entries in respective Ledger accounts.


Who this course is for:

  • IGCSE/ O level students (Edexcel & Cambridge)
  • A level students (AQA, OCR,CAIE,EDEXCEL accounting)
  • AAT level 2 & 3
  • Job seeker in accounting & bookkeeping
  • HND, HNC & other university accounting 1st year students

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