ICPAU Worked example on depreciation double entry

Video Title Master Depreciation & Asset Disposal | ICPAU Financial Accounting Worked Example Video Description In this meticulously detailed session, Arnold from Kisembo Academy walks you through a comprehensive past paper question from the Institute of Certified Public Accountants of Uganda (ICPAU). We dive deep into the world of Financial Accounting, focusing on the depreciation of non-current assets—specifically Motor Vehicles for "Prosperous Limited." This tutorial covers two full financial years (2017–2019) and teaches you how to handle complex transactions with ease. What you will learn in this video: Asset Acquisition: How to calculate the total cost of a delivery truck, including shipping and non-refundable taxes, while excluding fines. Asset Disposal: Step-by-step double entry for disposing of vehicles through sale, fire destruction, and trade-in. Accumulated Depreciation: Calculating depreciation at 20% on cost and identifying the correct periods for "full year in year of acquisition, none in year of disposal". Combined Ledger Accounts: How to prepare and balance a combined Motor Vehicles Account, Accumulated Depreciation Account, and Disposal Account. Whether you are a CPA candidate or an accounting student looking to sharpen your bookkeeping skills, this meticulous walkthrough will help you understand the nuances of depreciation and asset management. #Accounting #Depreciation #ICPAU #FinancialAccounting #AssetDisposal #CPAUganda #KisemboAcademy #DoubleEntry #AccountingStudent Join this channel to get access to perks:    / @kisembo.academy   Edgar