Depreciation

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  • August 19, 2014 at 8:26 am #187884
    sandy
    Participant

    How to find if there is any differences in YTD depreciation expense?

    Thank you

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  • August 19, 2014 at 2:48 pm #587629
    WeWillSee
    Member

    In what context?

    August 20, 2014 at 12:03 am #587630
    sandy
    Participant

    I just started with a new company and whoever was before me didn't enter lot of depreciation expense for the month. So, the amount are not correct in the financial statements.

    Thanks

    August 20, 2014 at 12:36 am #587631
    M.O.D.
    Member

    You need to go back to the asset listing/schedule and calculate annual and/or monthly depreciation from that.

    That is a better source than looking at prior statements to see what was done then.

    BA Mathematics, UC Berkeley
    Certificates in CPA and EA preparation, College of San Mateo
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    FAR 91, AUD Feb 2015 (Gleim self-study)

    August 20, 2014 at 1:27 am #587632
    mla1169
    Participant

    Are you using fixed asset software? Do you have a schedule of fixed assets and their acquisition dates? Shouldn't take very long to figure out what the accumulated depreciation should be.

    FAR- 77
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    Massachusetts CPA (non reporting) since 3/12.

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