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Compare accounting depreciation and tax depreciation.
The major differences between accounting depreciation and tax depreciation are as follows −
It is prepared for accounting purpose.
It is based on International Accounting Standards Board (IASB) and accounting principles.
One can choose any depreciation method.
It is more accurate as compared to tax depreciation.
It is prepared for income tax purpose.
It is based on Internal Revenue service (IRS) regulations.
It uses accelerated depreciation method.
It is less accurate as compared to accounting depreciation.
- Accounting Depreciation Vs Tax Depreciation
- Compare depreciation and amortisation.
- Explain the concept of depreciation in accounting.
- Explain about straight line depreciation in accounting.
- Differentiate between sinking fund depreciation and annuity method of depreciation.
- Explain sinking fund depreciation.
- Compare marginal tax rate and effective tax rate.
- Explain revaluation method of depreciation.
- Describe concept of composite depreciation.
- Sinking Fund Method of Depreciation
- Compare between accounting concepts and accounting convections.
- Calculate depreciation using diminishing balance method
- Calculate depreciation using productin units method
- Explain insurance policy method of depreciation
- Explain about Mileage method of depreciation.