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The proper accounting for equipment and depreciation are presented in this course, focusing on straight-line, units of activity, and declining balance methods.  Depreciation from an accounting point of view is defined and detailed examples are provided.  Additionally, accounting for the sale of equipment is covered.

Course Series

This course is included in the following series:

11 CoursesBack to the Basics: Accounting Fundamentals

  1. Accounting Review: The Basics of Debits and Credits
  2. Transaction Analysis, T-Accounts, Debits and Credits, and Trial Balances
  3. Accounting Review: Overview of Financial Statements; P&L, Balance Sheet, and Cash Flow
  4. The Accounting Equation and Financial Statements
  5. Bank Reconciliations, Cash, and Internal Controls
  6. Accounts Receivable Training: Bad Debts
  7. Equipment and Depreciation
  8. Inventory Costing
  9. Purchase and Sale of Inventory
  10. The Adjusting Process
  11. The Closing Process

Learning Objectives

  • Identify the characteristics of property, plant and equipment
  • Discover how to calculate and record straight-line depreciation
  • Discover how to calculate and record units of activity depreciation
  • Discover how to calculate and record declining balance depreciation
  • Discover how to calculate and record the sale of equipment
Last updated/reviewed: June 26, 2021

55 Reviews (223 ratings)Reviews

5
Anonymous Author
great course and very easy to follow as the professor was very thorough in this topic.
5
Anonymous Author
Great refresher course on equipment and depreciation - these may not be concepts used everyday in corporate accounting, so it's nice to re-acquaint oneself with them. Highly recommend for anyone looking to brush up on their depreciation knowledge. Great instructor and videos as well!
3
Anonymous Author
Basics were basically covered. Arguably should have covered held-for-sale accounting as would have led to different answer to an example. Seemed to inconsistently consider residual value in the review and exam questions.
5
Member's Profile
Good review of depreciation methods that you will see in the real world. It will ensure you understand how assets flow progressively on to the income statement, and by what pace it happens depending on the method used.
5
Anonymous Author
Great review on basic depreciation methods. Instructor provided easy to follow notes and examples which were helpful and helped me maintain focus on this topic.
5
Anonymous Author
This course was a refresher. The instructor was very effective in presenting the course materials. The time allotted for the course was appropriate.
5
Member's Profile
Instructor was easy to understand and provided good examples in the presentation. The handouts and materials were very helpful learning tools also.
4
Anonymous Author
Helpful course on depreciation and the different methods. The questions worked through are a good exercise for anyone taking the course.
5
Anonymous Author
Presentation very well and logically laid out with thorough explanation & reasoning. Great review and overview of Depr Exp & Accum Depr.
4
Anonymous Author
Good review course but I thought straight line depreciation was the easiest to implement but the test answer was double declining.
Anonymous Author
Course was easy to understand and the instructor is effective. The workbook is a great added feature to practice before the exam.
5
Member's Profile
Course was very easy to understand and examples gave the basics of Straight Line and Double Declining. Great quick overview.
4
Anonymous Author
The Course covered the basics of calculating and recording depreciation for a fixed assets. Good lecture with basic examples.
5
Anonymous Author
I learned a lot from this course. I recommend as the presenter clearly explains the topic and makes it easy to understand.
4
Anonymous Author
Course refreshes the basics for those that are not actively/currently involved in fixed assets. Good refresher course.
5
Member's Profile
Very basic but useful if your unfamiliar with depreciation. Also, good refresher on the non-straight line methods.
4
Anonymous Author
Excellent review of Depreciation calculations. I liked all the examples and the instructor's presentation style.
4
Anonymous Author
You'll be able to grasp the basics of accounting. This is a great starter for those new to the accounting world
5
Anonymous Author
This was a good overview of the different types of depreciation. The examples used were very clear and helpful.
5
Anonymous Author
Very easy to follow and understand. Good refresher course on depreciation methods and their calculations.
4
Anonymous Author
Solid walk through of Depreciation and Equipment topics and standard depreciation methods used
5
Member's Profile
great overview of PPE and depreciation methods, useful for all accounting professionals
5
Member's Profile
Enjoyed the instructor's presentation style - made all concepts easy to understand.
5
Member's Profile
Really helps for those who is starting to study equipment and depreciation.
5
Anonymous Author
Simple overview. I think the exam question should show the answers graded.
5
Member's Profile
Good overview of the topic. Workbook and examples are very helpful.
5
Member's Profile
Well-organized. Anyone teaching financial accounting would benefit.
5
Member's Profile
Pretty basic but a good refresher course. Very easy to understand.
5
Member's Profile
Good course with lots of information. Would recommend to others.
4
Member's Profile
This is a good intro to PPE. Would recommend for beginners.
5
Member's Profile
Great summary of depreciation. Easy to follow for anyone.
4
Anonymous Author
Decent class about depreciation if you need a refresher.
5
Member's Profile
No surprises. Clear aand concise review of depreciation.
5
Member's Profile
This course was clear and precise. Highly recommend it.
5
Anonymous Author
Good course overall. Would recommend for beginners.
4
Anonymous Author
Good review of depreciation basics. Good examples
5
Member's Profile
MACRS table (or TurboTax) is easier at my age.
4
Anonymous Author
Good coverage of the key concepts.
5
Member's Profile
Review of depreciation methods
4
Anonymous Author
Good refresher of DDB method.
5
Member's Profile
Good review. Thanks!
Member's Profile
Good simple review.
5
Anonymous Author
Very educational.
4
Anonymous Author
great refresher
5
Anonymous Author
Very Informative
3
Anonymous Author
An okay review.
4
Member's Profile
Good overview
4
Anonymous Author
valued course
5
Anonymous Author
Great course!
4
Member's Profile
Very Good!
4
Member's Profile
Good
4
Member's Profile
good
3
Anonymous Author
ok
5
Member's Profile
.
Anonymous Author
4

Prerequisites

Course Complexity: Foundational

No Advanced Preparation or Prerequisites are needed for this course. However, it is recommended to take the other courses in the series prior to completing this one.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
Equipment and Depreciation
  6:54Straight Line and Units of Activity
  9:21Double Declining Balance
CONCLUSION
  7:42Disposal of Equipment
Continuous Play
  36:559 Core Financial Accounting:Equipment and Depreciation
SUPPORTING MATERIALS
  PDFNotes Template: Equipment and Depreciation
  PDFWorkbook: Equipment and Depreciation
REVIEW & TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM