Difference between revisions of "Modified Accelerated Cost Recovery System"
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| − | [[Modified Accelerated Cost Recovery System]] ([[MACRS]]) is a system for businesses to calculate depreciation for tax purposes based on the Tax Laws of 1986, 1989, and 2010 | + | [[Modified Accelerated Cost Recovery System]] (alternatively known as [[General Depreciation System]] or [[GDS]] or by its acronym, [[MACRS]]) is a system for businesses to calculate depreciation for tax purposes based on the Tax Laws of 1986, 1989, and 2010). |
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*[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]]. | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]]. | ||
| − | ==Related | + | ==Related lectures== |
| − | *[[American Accounting]]. | + | *[[Introduction to American Accounting]]. |
| − | [[Category: Accounting]][[Category: Articles]] | + | [[Category: American Accounting]][[Category: Articles]] |
Latest revision as of 22:56, 4 January 2019
Modified Accelerated Cost Recovery System (alternatively known as General Depreciation System or GDS or by its acronym, MACRS) is a system for businesses to calculate depreciation for tax purposes based on the Tax Laws of 1986, 1989, and 2010).
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Modified Accelerated Cost Recovery System (MACRS). A system for businesses to calculate depreciation for tax purposes based on the Tax Laws of 1986, 1989, and 2010; also known as the General Depreciation System (GDS).
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
