Difference between revisions of "Modified Accelerated Cost Recovery System"

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(Related coursework)
 
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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 coursework==
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==Related lectures==
*[[American Accounting]].  
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*[[Introduction to American Accounting]].  
  
[[Category: Accounting]][[Category: Articles]]
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[[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

Related lectures