What topic should I cover next? Let me know your thoughts ⏱TIMESTAMPS 00:00 - Intro 00:35 - What is Depreciation? 11:24 - Straight Line Depreciation Method 17:58 - Double-Declining Balance Method 23:19 - Sum of the Year's Digits Method 31:03 - Units of Production Method
@jfdd43
9 күн бұрын
Fixing common new business bookkeeping mistakes!
@AnaMarieD-y7b
9 күн бұрын
Year end closing entries maybe? Thanks!❤
@AccountingStuff
9 күн бұрын
@@AnaMarieD-y7b I've covered Closing Entries in this video: kzitem.info/news/bejne/xmewmKCmnYOqeoY
@AnaMarieD-y7b
9 күн бұрын
@@AccountingStuff Thank you so much James! Really appreciate it! You’re the best!❤️
@AccountingStuff
9 күн бұрын
@@jfdd43 That's a good idea!
@lovemiiiina
8 күн бұрын
can you give an example of the DDB that has residual value
@AccountingStuff
8 күн бұрын
Thanks for your request!
@Kitty-lj7eg
3 күн бұрын
Very good explanation and information. Thank you!!
@AccountingStuff
3 күн бұрын
Thanks!
@WolfandThreePiggysTV
9 күн бұрын
I love you James 🎉😊 You saving me 🎉😊
@AccountingStuff
9 күн бұрын
All the best :)
@sherwinorallo4311
4 күн бұрын
James, How would the Journal Entries look like on the Combine Harvester?
@sherwinorallo4311
4 күн бұрын
Was the Combine Harvester paid in Cash, On Account, or was a loan taken out against it? Please advise.
@AnaMarieD-y7b
9 күн бұрын
Thank you for this video. Very clear and informative.❤️
@AccountingStuff
9 күн бұрын
You're very welcome :)
@RPOlawale
9 күн бұрын
We were just tutored on Deprecation at my ICAN Tutorials 😅.. this is helpful
@olamapayi
9 күн бұрын
Awwwwn 😊
@sandipbaral6918
9 күн бұрын
Oo you from Nepal. I too am aspirant of Ican.
@AccountingStuff
9 күн бұрын
Glad it was helpful!
@omkarprathap.a6052
8 күн бұрын
hey james great videos can you do videos like this about audit and assurance🙂
@AccountingStuff
8 күн бұрын
Thanks for your request!
@TheLantuna
9 күн бұрын
Nice one sir, I really need this topic, thank you very much
@AccountingStuff
9 күн бұрын
You're very welcome! Hope it helps :)
@Mannie-
7 күн бұрын
Hey so I’m taking my first accounting class for school and I have a upcoming exam next week how do I study for it. Like we have learned is the role of accounting business, basic accounting concepts (cash basis) and basic accounting concepts (accrual basis). I’m just so confused
@AccountingStuff
7 күн бұрын
Have they given you any practice questions?
@Mannie-
7 күн бұрын
Yes
@AccountingStuff
6 күн бұрын
@@Mannie- Well I'd start with those and try to do as many as possible. Refer to the explanations for any that you get wrong and read up on those pages of your notes. You've still got time... best of luck!
@boyrobloxian6420
9 күн бұрын
hi james its me again i find your videos are super funny i love them
@AccountingStuff
9 күн бұрын
Thanks, that's great to hear!
@rirves
5 күн бұрын
james :3
@robyee3325
8 күн бұрын
so how does this apply to income tax? depreciation strategy is to bring down your taxable income? you didnt really explain the point of depreciation and how it applies to tax return. can i depreciate everything i buy? does it have to be a business expense? what if im not an entrepreneur? what do you do with your closing book value? does that go on your tax return or something?
@AccountingStuff
8 күн бұрын
I didn't cover the tax treatment of depreciation because it varies depending on when you live. Generally, Fixed Assets are depreciated at a rate determined by your local tax office. This determines the expense which reduces your Taxable Income each year
@robyee3325
8 күн бұрын
@@AccountingStuff thanks for replying!
@AccountingStuff
8 күн бұрын
@@robyee3325 You're very welcome :)
@angellombness4371
8 күн бұрын
[comment engagement]
@AccountingStuff
8 күн бұрын
Thank you :)
@Psa354318
4 күн бұрын
Maybe it's only because I'm just learning this now, but I'd rather just pay the tax on the money used to buy the machine and be done with it.
@AccountingStuff
3 күн бұрын
Sales Tax? Businesses pay Income Tax on their profits, not their expenses.
Пікірлер: 45