Conference Info
- IndustryHuman Resources
- Unique IDUSC2026353
- Duration100 Minutes
- DateJun 5,2026
- Time10:00 AM PDT | 01:00 PM EDT
Description
Overview
Nearly every business utilizes long-lived assets that play a critical role in daily operations. Over time, the cost of these assets must be allocated over their useful lives, a process known as depreciation. While this may seem straightforward, the rules governing depreciation under Generally Accepted Accounting Principles (GAAP) often differ significantly from those allowed for tax purposes. This creates complexity in asset management and financial reporting.
In this webinar, participants will gain a comprehensive understanding of depreciation fundamentals, including what qualifies as depreciable property, how to capitalize costs, and the specific depreciation methods used for financial accounting versus tax reporting.
Through detailed explanations and practical examples, this session will walk attendees through the application of various depreciation methods, such as straight-line, declining balance, MACRS, Section 179, and bonus depreciation. You'll also learn why businesses are required to maintain separate depreciation schedules for book and tax purposes, and how to track and reconcile differences between the two. Whether you are new to accounting for fixed assets or need a refresher on the latest methods, this webinar offers the knowledge and tools necessary for accurate and compliant asset management.
Topics Covered:
- Definitions and fundamentals of depreciation
- Key factors in computing depreciation: cost, useful life, method, and salvage value
- GAAP accounting methods: Straight-line, Units of Production, Sum-of-the-Years’-Digits, Declining Balance
- Tax depreciation methods: MACRS, ACRS, Section 179, Bonus Depreciation, and treatment of intangible assets
Your Benefits For Attending:
- Understand which types of property qualify for depreciation and what costs must be capitalized.
- Learn how to apply specific depreciation methods and determine when each is appropriate.
- Explore accelerated depreciation strategies, including Section 179 and bonus depreciation options.
- Gain insights into reconciling depreciation expenses and asset book values when using multiple accounting methods.
- Receive clarity on both GAAP and tax depreciation methods to ensure compliance and accuracy in reporting.
This webinar is ideal for accounting professionals, tax preparers, bookkeepers, and finance teams responsible for asset accounting and tax compliance. It also benefits small business owners seeking to better understand how depreciation affects financial statements and tax liability.
Why This Webinar Is a Must-Attend:
You’ll walk away with a stronger grasp of the depreciation process, empowering you to manage fixed assets efficiently and maximize tax benefits while staying compliant with accounting standards.
Chuck Borek