💥Depreciation Cheat Sheet → https://accountingstuff.com/shop

In this video you'll learn how Depreciation works in Accounting. We'll work through a Straight Line Depreciation example and explore the Journal Entries that need to be posted. Others depreciation methods include...

▪ Straight Line Depreciation Method →    • STRAIGHT LINE Method of Depreciation ...  
▪ Double-Declining Balance Method →    • DOUBLE DECLINING BALANCE Method of De...  
▪ Sum of the Year's Digits Method →    • SUM OF THE YEAR'S DIGITS Method of De...  
▪ Units of Production Method →    • UNITS OF PRODUCTION Method of Depreci...  

This episode of Accounting Stuff is part of a mini-series on Depreciation in Accounting. You can find the link to the whole playlist here ⬇️

🔗Full Depreciation Playlist →    • How to Calculate DEPRECIATION (Mini-S...  

🔴Subscribe for more Accounting Tutorials → https://geni.us/subtothechannel

⏱️TIMESTAMPS
00:00 - Intro
00:29 - What is Depreciation?
01:09 - Why do we Depreciate?
01:11 - Accrual Method of Accounting
01:43 - Adjusting Entries Definition
02:03 - How does Depreciation work?
02:21 - Capitalization Definition
02:43 - Depreciation Methods
03:39 - Depreciation Schedule
04:01 - How to record Depreciation using Journal Entries
04:05 - Journal Entry Definition
04:11 - DEALER (Accounting Acronym)
04:43 - How to Capitalize an Asset
06:28 - How to Record a Depreciation Expense using Journal Entries
08:03 - Contra Asset Definition
10:36 - Clearing Journal Entry

🔝 CLOUD ACCOUNTING SOFTWARE
▪ QuickBooks Online USA (FREE TRIAL/DISCOUNT) → http://geni.us/jA9N
▪ QuickBooks Online Canada (FREE TRIAL/DISCOUNT) → https://geni.us/bNN7
▪ Xero (FREE TRIAL) → https://xeroamericas.grsm.io/ck90eoq1...

🔎FAQ
▪ My Favourite Accounting Book for Beginners → http://geni.us/5mKR7m

🚶FOLLOW ME ON
▪ Instagram →   / accountingstuff  
▪ TikTok →   / accounting_stuff  
▪ Facebook →   / thisisaccountingstuff  

🎬LEARN ACCOUNTING BASICS FOR FREE
▪ The Full Playlist →    • ACCOUNTING BASICS for Beginners (Whol...  
________________________
DISCLAIMER

Some of the links above are affiliate links, where I earn a small commission if you click on the link and purchase an item. You are not obligated to do so, but it does help fund these videos in hopes of bringing value to you!
________________________

#accounting #accountingbasics #accountingstuff