Depreciation: Video Lesson This video lesson, titled “Depreciation,” discusses depreciation and shows you how to calculate straight-line depreciation. This video is from our complete accounting tutorial, titled “Mastering Accounting Made Easy v.2.0.” Depreciation: Overview Most companies own assets that have long useful lives. These can take the form of buildings, equipment, and vehicles.
In small business accounting, some concepts can be trickier than simply recording assets, liabilities, and transactions. Some companies receive advances in payments before actual services are performed. In accounting, this is called Unearned Revenue. Unearned revenue must be reported in order for companies to comply with GAAP* principles. When the company receives an advance, it