Asset Depreciation

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Asset Depreciation


Lecture number:
23
Pages:
3
Type:
Lecture Note
School:
Miami University, Oxford
Course:
Acc 221 - Intro to Financial Accounting
Edition:
1
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Unformatted text preview:

Lecture 23 Outline of Previous Lecture  Section 22: Fixed Assets Review  Fixed Assets o Dollar value we put into assets o Operating costs and expenses o Grey area Outline of Current Lecture  Section 23: Asset Depreciation  Depreciation o Overview  Straight Line Depreciation o Allocates evenly over time  Double Declining Balance Method o Front Loaded o Depreciation Factor o Adjusting Entry  Activity Based Depreciation o Depreciation based on Activity  Removing Assets o No gain or loss o Gain on sale o Loss on sale Current Lecture  Section 23: Asset Depreciation  Depreciation o Overview  Depreciation – allocation method to show the usage of assets and equipment by the company  Three types  Straight line depreciation  Double declining balance depreciation method  Activity based depreciation method  Considerations:  Total value  Estimated life  Residual value ACC 221 1st Edition



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