depreciation Archives - Free ZIMSEC & Cambridge Revision Notes

July 2018

Cambrige Notes: Principles of Accounting: Double entry for depreciation example
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Cambrige Notes: Principles of Accounting: Double entry for depreciation example

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Double entry for depreciation example

By Garikai Dzoma|2018-07-25T09:57:30+02:00July 25th, 2018|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Double entry for depreciation example

Here we will assume that you have read
The topic about the rationale behind depreciation
The topic about the methods of calculating depreciation
The entries required to record depreciation in the books
If not you should click on each of the above links […]
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Cambrige Notes: Principles of Accounting: Disposal of Fixed Assets Example
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Cambrige Notes: Principles of Accounting: Disposal of Fixed Assets Example

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Disposal of Fixed Assets Example

By Garikai Dzoma|2018-07-25T09:57:30+02:00July 25th, 2018|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Disposal of Fixed Assets Example

Now that we have looked at the entries required to record depreciation
It is time to look at a simple example:

A business whose financial year ends at 31 December purchased on 1 January 20X7 a machine for $5,000. The machine was to be depreciated by ten […]

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Cambrige Notes: Principles of Accounting: Causes of Depreciation
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Cambrige Notes: Principles of Accounting: Causes of Depreciation

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Causes of Depreciation

By Garikai Dzoma|2018-07-25T09:57:30+02:00July 25th, 2018|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Introduction to depreciation

We have already explained that depreciation is the wasting away of fixed assets
We have also explained that it is treated as an expense in the Income Statement where it should appear at least once a year
Now we will look at the causes of depreciation
It is […]
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Cambrige Notes: Principles of Accounting: Calculating/Estimating depreciation
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Cambrige Notes: Principles of Accounting: Calculating/Estimating depreciation

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Calculating/Estimating depreciation

By Garikai Dzoma|2018-07-25T09:57:30+02:00July 25th, 2018|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Calculating/Estimating depreciation

Before it is entered in the books depreciation has to be calculated
Where an accurate figure cannot be estimated an estimate has to be used
It is entirely up to the business in question to choose an appropriate way of calculating depreciation for each class of assets
Whatever the […]
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Cambrige Notes: Principles of Accounting: The straight line method
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Cambrige Notes: Principles of Accounting: The straight line method

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: The straight line method

By Garikai Dzoma|2018-07-25T09:57:30+02:00July 25th, 2018|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Calculating/Estimating depreciation: The straight line method

As already pointed out there are number of ways in which depreciation can be calculated
The straight line method is merely one of these methods
It is the most popular and simplest method of calculating depreciation there is
First the cost of the asset […]
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Cambrige Notes: Principles of Accounting: The reducing balance/diminishing balance method
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Cambrige Notes: Principles of Accounting: The reducing balance/diminishing balance method

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: The reducing balance/diminishing balance method

By Garikai Dzoma|2018-07-25T09:57:30+02:00July 25th, 2018|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: The reducing balance/diminishing balance method

As discussed in this topic there are number of ways in which depreciation can be calculated
The reducing balance method is one of these methods
It is also known as the diminishing balance method
A fixed percentage is deducted from the first from cost then […]
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Cambrige Notes: Principles of Accounting: The Revaluation Method
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Cambrige Notes: Principles of Accounting: The Revaluation Method

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: The Revaluation Method

By Garikai Dzoma|2018-07-25T09:57:30+02:00July 25th, 2018|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Calculating/Estimating depreciation: The Revaluation Method

When there are a few big fixed assets it is easy to:
1. Ascertain the cost
2. Estimate its useful life
3. Calculate/estimate its depreciation
4. Account for its disposal
5. Calculate/estimate profit or loss on disposal
For each asset because it is worth the effort
There are times when […]
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Cambrige Notes: Principles of Accounting: Double entry for Depreciation
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Cambrige Notes: Principles of Accounting: Double entry for Depreciation

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Double entry for Depreciation

By Garikai Dzoma|2018-07-25T09:57:30+02:00July 25th, 2018|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Double entry for Depreciation

Once depreciation has been calculated using either:
The straight line method or
The reducing balance method
It is recorded in the books using double entry
Before we mention the entries it is important to state this

The old method of accounting for depreciation by recording it in the […]

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August 2017

Principles of Accounting: Disposal of Fixed Assets Example
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Principles of Accounting: Disposal of Fixed Assets Example

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Disposal of Fixed Assets Example

By garikaib|2017-08-29T14:00:34+02:00August 29th, 2017|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: Disposal of Fixed Assets Example

Now that we have looked at the entries required to record depreciation
It is time to look at a simple example:

A business whose financial year ends at 31 December purchased on 1 January 20X7 a machine for $5,000. The machine was to be depreciated by ten equal […]

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Principles of Accounting: Double entry for depreciation example
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Principles of Accounting: Double entry for depreciation example

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Double entry for depreciation example

By garikaib|2018-07-23T11:19:32+02:00August 28th, 2017|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: Double entry for depreciation example

Here we will assume that you have read
The topic about the rationale behind depreciation
The topic about the methods of calculating depreciation
The entries required to record depreciation in the books
If not you should click on each of the above links and […]
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July 2018

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August 2017

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