February 2007
Intermediate to advanced
288 pages
6h 32m
English
book
Crash Course in Accounting and Financial Statement Analysis, Second Edition
by Matan Feldman, Arkady Libman
Content preview from Crash Course in Accounting and Financial Statement Analysis, Second Edition
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PP&E, Net of Depreciation
PP&E is reported net of accumulated depreciation on the balance sheet, such that:
Net PP&E = Gross PP&E – Accumulated Depreciation
|
Accumulated Depreciation (B/S) = (Depreciation Expense)Year 1 + (Depreciation Expense)Year 2 + (Depreciation Expense)Year 3 + ... + (Depreciation Expense)Current Year |
Accumulated depreciation = sum of all depreciation expenses (net of asset sales) on the income statement. It is a contra account, which is an offsetting account to an asset (and can also be to liabilities and shareholders’ equity). Increases in a contra account reduce the associated asset account.
Accumulated depreciation offsets Gross PP&E account, and the two accounts are aggregated together on the balance sheet as Net PP&E:
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