In this lesson, Nick Palazzolo, CPA, wraps up the discussion on Property, Plant, and Equipment by emphasizing the need for mastery in preparing for depreciation simulations, a common element in the assets category of CPA exams. He hones in on the calculation of the depreciable base of an asset, mentioning the importance of understanding what components contribute to it. Nick further explores the crucial distinctions between capitalizing and expensing costs, highlighting how this concept frequently appears in various parts of the exam, particularly in scenarios involving software costs and research and development. Throughout the session, Nick encourages a strong push towards diligent practice, underscoring the value of consistent effort over time in succeeding with the CPA exam materials.
Lesson: Property, Plant and Equipment Summary
In this lesson, Nick Palazzolo, CPA, wraps up the discussion on Property, Plant, and Equipment by emphasizing the need for mastery in preparing for depreciation simulations, a common element in the assets category of CPA exams. He hones in on the calculation of the depreciable base of an asset, mentioning the importance of understanding what components contribute to it. Nick further explores the crucial distinctions between capitalizing and expensing costs, highlighting how this concept frequently appears in various parts of the exam, particularly in scenarios involving software costs and research and development. Throughout the session, Nick encourages a strong push towards diligent practice, underscoring the value of consistent effort over time in succeeding with the CPA exam materials.
Updated: Oct. 20, 2021 Create an account