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Bookkeeping

Units of Production Depreciation Method with Formula in Excel

October 17, 2023

By Ramanand

Bookkeeping

You can’t simply pre-determine an automated entry to account for depreciation as you would with timeline based depreciation methods since you cannot predict the level of production for future years. This method is also not accepted for tax purposes so using units of production to determine depreciation will need a conversion ...

Is Accumulated Depreciation a Current Asset?

July 3, 2023

By Ramanand

Bookkeeping

Accumulated depreciation is used to calculate an asset’s net book value, which is the value of an asset carried on the balance sheet. The formula for net book value is cost an asset minus accumulated depreciation. Watch this short video to quickly understand the main concepts covered in this guide, including ...

What Is Accumulated Depreciation and How Is It Recorded?

June 27, 2023

By Ramanand

Bookkeeping

Each period in which the depreciation expense is recorded, the carrying value of the fixed asset, i.e. the property, plant and equipment (PP&E) line item on the balance sheet, is gradually reduced. Accumulated depreciation is recorded in a contra asset account, meaning it has a credit balance, which reduces the gross ...

Accounts Payable: Definition, Example, Journal Entry

July 15, 2022

By Ramanand

Bookkeeping

As an accountant, you may have to crunch numbers, but those are not the only skills needed. It is important to possess sharp logic skills and big-picture problem-solving abilities, as well. While bookkeepers make sure the small pieces fit properly into place, accountants use those small pieces to draw much more ...

What Are the Types of Capital Expenditures CapEx?

June 15, 2022

By Ramanand

Bookkeeping

While depreciation expense reduces the carrying value of fixed assets (PP&E) on the balance sheet, there is no actual cash outlay. Capital expenses are long-term investments you make to improve your company while operating expenses are costs you incur to keep your business operational. Both repairs and maintenance are considered operating ...

ACCOUNTING SUPERVISOR 2 COMPTROLLER PHOENIX, Arizona, United States

April 14, 2022

By Ramanand

Bookkeeping

Whether you’re interested in working with us, need an expert opinion – or just want to find out more about what we do, we’d love to hear from you. We works well for any business wanting to streamline their back office. Our Business & Finance Consulting professionals have an underlying knowledge ...