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SUM OF THE YEAR'S DIGITS Method of Depreciation

💥Depreciation Cheat Sheet → https://accountingstuff.co/shop In this video you'll learn how to use the Sum of the Year's Digits Depreciation Method in Accounting. This an accelerated variable depreciation technique. Others depreciation methods include... ▪ Straight Line Depreciation Method →    • STRAIGHT LINE Method of Depreciation ...   ▪ Double-Declining Balance Method →    • DOUBLE DECLINING BALANCE Method of De...   ▪ Sum of the Year's Digits Method →    • SUM OF THE YEAR'S DIGITS Method of De...   ▪ Units of Production Method →    • UNITS OF PRODUCTION Method of Depreci...   You'll find out what depreciation means and how it applies to Non-Current Assets like a Solar Panel. Then we'll cover a full worked example where you'll learn how to apply the Sum of the Year's Digits Method in three simple steps. This episode of Accounting Stuff is part of a mini-series on Depreciation in Accounting. You can find the link to the whole playlist here ⬇️ 🔗Full Depreciation Playlist →    • How to Calculate DEPRECIATION (Mini-S...   🔴Subscribe for more Accounting Tutorials → https://geni.us/subtothechannel ⏱️TIMESTAMPS 00:00 - Intro 00:10 - What is Depreciation? 00:21 - What is the Sum of the Year's Digits Method? 00:46 - Example 01:22 - Step 1: Write Down What You Know 01:49 - Step 2: Build a Depreciation Schedule 02:24 - Step 3: Calculate the Depreciation Rate, Depreciation Expense, Accumulated Depreciation & Book Values 02:53 - How to Calculate Sum of the Year's Digits Depreciation Rate 04:48 - How to Calculate Sum of the Year's Digits Depreciation Expense 07:48 - Sum of the Year's Digits Depreciation Graph 🔝 CLOUD ACCOUNTING SOFTWARE ▪ XERO (Free Trial / Discount) → https://xero5440.partnerlinks.io/08mf... ▪ QuickBooks Online USA (Free Trial / Discount) → https://geni.us/quickbooksonlineusa ▪ QuickBooks Online Canada (Free Trial / Discount) → https://geni.us/quickbooksonlinecanada 🔎FAQ ▪ My Favourite Accounting Book for Beginners → http://geni.us/5mKR7m 🚶FOLLOW ME ON ▪ Instagram →   / accountingstuff   ▪ TikTok →   / accounting_stuff   ▪ Facebook →   / thisisaccountingstuff   🎬LEARN ACCOUNTING BASICS FOR FREE ▪ The Full Playlist →    • ACCOUNTING BASICS for Beginners (Whol...   ________________________ DISCLAIMER Some of the links above are affiliate links, where I earn a small commission if you click on the link and purchase an item. You are not obligated to do so, but it does help fund these videos in hopes of bringing value to you! ________________________ #accounting #accountingbasics #accountingstuff