ACCOUNTING BASICS for Beginners (Whole Playlist) - STRAIGHT LINE Method of Depreciation in 3 Steps!

👉 Confused by accounting? Download this free cheat sheet: https://accountingstuff.com In this video you'll learn how to use the Straight Line Depreciation Method in Accounting. This is the simplest way to depreciate Tangible Fixed Assets. Others depreciation methods include... ▪ Straight Line Depreciation Method → https://youtu.be/iruD9KTNnNc ▪ Double-Declining Balance Method → https://youtu.be/M-VzJ51zZoM ▪ Sum of the Year's Digits Method → https://youtu.be/Q03t8vuRMwo ▪ Units of Production Method → https://youtu.be/QJk6DgML0BQ You'll find out what depreciation means and how it applies to Non-Current Assets on a farm. Then we'll cover a full worked example where you'll learn how to apply the Straight Line Method in three simple steps. 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 → https://www.youtube.com/playlist?list=PL5zKSeS09l324hTFoBXWq9T3tUY_LUrn2 🔴Subscribe for more Accounting Tutorials → https://geni.us/subtothechannel ⏱️TIMESTAMPS 00:00 - Intro 00:11 - What is Depreciation? 00:22 - What is Straight Line Depreciation? 00:35 - Example 01:20 - Step 1: Write Down What You Know 01:46 - Step 2: Build a Depreciation Schedule 02:34 - Step 3: Calculate the Depreciation Expense, Accumulated Depreciation & Book Values 03:13 - How to Calculate Straight Line Depreciation Expense 05:52 - Straight Line Depreciation Graph 🔝 CLOUD ACCOUNTING SOFTWARE ▪ XERO (Free Trial / Discount) → https://xero5440.partnerlinks.io/08mfchsgfw8z ▪ QuickBooks Online USA (Free Trial / Discount) → https://geni.us/quickbooksonlineusa ▪ QuickBooks Online Canada (Free Trial / Discount) → https://geni.us/quickbooksonlinecanada 🔎FAQ ▪ My Favourite Accounting Book for Beginners → http://geni.us/5mKR7m 🚶FOLLOW ME ON ▪ Instagram → https://www.instagram.com/accountingstuff ▪ TikTok → https://www.tiktok.com/@accounting_stuff ▪ Facebook → https://www.facebook.com/thisisaccountingstuff/ 🎬LEARN ACCOUNTING BASICS FOR FREE ▪ The Full Playlist → https://www.youtube.com/playlist?list=PL5zKSeS09l339nB6ujJPQ9Rsv99_b-aTb ________________________ 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