Thanks a lot for the great content. I'm a senior software engineer and recently started working on the Accounting Module of an ERP solution, which is offered by a software enterprise. I can say your videos made it really convenient for me to learn and understand the accounting principles as someone, who doesn't have any background about it. Needless to say, I shared your videos with a lot of my colleagues and friends. Thanks a zillion!
Hello Tony, you said that companies can manipulate the expenses to get lower income tax, what if company decides to use Units of Production method to manipulate income tax? What government will do? Also, there is estimated 100,000 km for 5 year, what if car goes like 150,000 or less than 100,000 km? What about faking operating expenses to get less income tax?
The government won't allow it. They are forced to use a specific depreciation method for tax purposes. It differs by country, but since this is so easily manipulated, tax authorities get very specific about how to depreciate assets.
can you please please please please do the sum of years digit method. I tried other TH-camrs , its even hard to watch them , once you go tony you never go back
It's just to come up with a percentage - remember, we are depreciating an asset over 5 years, so each year ought to be 20% (1/5) - but in this case, we double it!
@@Tony-Bell Just checked my other source and they too talk about Reducing Balance method - where they use (for example) 20% from last year's balance, also there is no residual value since the asset never reaches 0. Both sources are UK based so it must be a UK thing. :)
my dad is convincing me to buy a tesla instead of a camry. I want to buy camry because it will give me more usage for my money. I want to prove to him that but I don't know how to bring out the calculation to him that includes everything cost of gas and tax deduction. Can anyone give their opinons?
Thanks a lot for the great content. I'm a senior software engineer and recently started working on the Accounting Module of an ERP solution, which is offered by a software enterprise. I can say your videos made it really convenient for me to learn and understand the accounting principles as someone, who doesn't have any background about it. Needless to say, I shared your videos with a lot of my colleagues and friends. Thanks a zillion!
This is the most helpful accounting professor on TH-cam. :)
You are an absolute lifesaver!
Appreciate the stories u tell about canada,i am going to study finance in vancouver so it is so helpful😉
Good explanation at the end! Thanks
Excellent videos Tony!! Much appreciated of you...
Thank you so much I have a test today and it helped me alot ♥️
Excellent explanation. You are a lifesaver!
Thank you,i watched your videos before my exams and i did well.
I appp
"how many times my butt hit the seat" hahaha 11:30
Excellent Explain
Thanks Sir Tony
haha love the butt hits on the chair analogy! hahaha
Thank you❣️
you are good
Thank you very much Sir
Thnk u so much sir
Hello Tony, you said that companies can manipulate the expenses to get lower income tax, what if company decides to use Units of Production method to manipulate income tax? What government will do? Also, there is estimated 100,000 km for 5 year, what if car goes like 150,000 or less than 100,000 km? What about faking operating expenses to get less income tax?
The government won't allow it. They are forced to use a specific depreciation method for tax purposes. It differs by country, but since this is so easily manipulated, tax authorities get very specific about how to depreciate assets.
@@Tony-Bell Okay, Thanks for responding, Have a great day👍
Thank you so much!!!
Great one. Thank you so much :)
Love your work man ! Btw - You should have the pattern for the butt plugging method of depreciation !
can you please please please please do the sum of years digit method. I tried other TH-camrs , its even hard to watch them , once you go tony you never go back
Haha - thanks - flattery goes far with me! I'll add it to my "to do" list - but it will be quite a long time before I can get to it.
@@Tony-Bell omgmvmgftttt you replieddddddd
thankkkyou so much for being the bestyBEST teacher.
you have fans tony
Tony, why do we put a 1 at the front, like where did the fraction 1/5 come from? I get it's five years but why the 1 is there?
It's just to come up with a percentage - remember, we are depreciating an asset over 5 years, so each year ought to be 20% (1/5) - but in this case, we double it!
What about Reducing‐Balance depreciation. I read about in Accounting for Dummies. The book is a bit old, is the method still actual?
I think so, I call it declining, but isn't Reducing balance the same idea??
@@Tony-Bell Yeah it is, just in the book it wasn't double or at least it said nothing about it, and the idea was to be more conservative.
@@sellllmore Ahhh - interesting - it's certainly a valid method!
@@Tony-Bell Just checked my other source and they too talk about Reducing Balance method - where they use (for example) 20% from last year's balance, also there is no residual value since the asset never reaches 0. Both sources are UK based so it must be a UK thing. :)
@@sellllmore its the same thing brother dw in my course we say it reducing balance they both are same but method is different here
my dad is convincing me to buy a tesla instead of a camry. I want to buy camry because it will give me more usage for my money. I want to prove to him that but I don't know how to bring out the calculation to him that includes everything cost of gas and tax deduction. Can anyone give their opinons?
Butt hits per year hahahah
Another reason to hate governments
Sorry to say that the clips are too short.. that's quite annoying. Half an hour should be the minimum duration for one clip
He does this for free during his own time. Take what you can and be grateful that he does this at all.
tldr; stop complaining.
they do include everything tho
shut ur mouth and be grateful for his videos!
Thats what makes Tony Bell so useful. He can teach everything on double declining depreciation in 16 minutes. Love it!