Depreciation accounting for fixed assets is the usual activity and process for any accountant in his/her job. But things can get really tricky and difficult when there are numbers of assets. There are transactions like disposal, sale, and purchase in mid-month/mid-year.
This course is designed to help you understand the concept of depreciation through practical situations and examples.
It is very important to have a robust fixed assets and depreciation model in place, which calculates accurate depreciation monthly, helps you in budgeting, and forecasting depreciation costs for next year (years to come). Also, when there are assets sale/disposal, you need to figure out the exact profit or loss on such sale/disposal (especially when it takes place on old days in the month/year).
I will guide you through practical accounting issues and situations while accounting for depreciation, forecasting depreciation costs, the impact of the sale of assets (profit and loss) on your profit and loss statement and balance sheet.
The depreciation model which I have prepared for the course, is quite robust and takes care of any practical scenario in dealing with situations.
At the end of this course, you will have hands-on experience in dealing with any challenging depreciation and fixed assets accounting situation and its financial impact (which your manager would want to know accurately). You will also receipt a free copy of the template used in the course. So let's dive into it!