Free Accounting Video Tips

Disposition of Assets

Topics

• Determine the amount to record as an assets cost.
• Compute and record depreciation of property, plant, and equipment by commonly used methods.
• Apply the Modified Accelerated Cost Recovery System (MACRS) for federal income tax purposes.
• Record sales of plant and equipment.
• Record asset trade-ins using financial accounting rules and income tax requirements.
• Compute and record depletion of natural resources.
• Recognize asset impairment and understand the general concepts of accounting for impairment.
• Compute and record amortization and impairment of intangible assets.

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