By completely solving the second-order full-acoustic wave equation, two-way/full wave equation migration generates images up to arbitrary angles in inhomogeneous media. Full wave equation depth migration (FWDM) necessitates less wavefield storage during imaging, generates clearer imaging results, and has more computational flexibility compared with conventional reverse time migration. Conventionally, FWDM uses Runge-Kutta or two explicit one-way operators to extrapolate the data, which involves either a multirecursive process or complex square root computations of the Helmholtz operator, causing implementation complexities and inconveniences. To overcome these challenges, a novel algorithm called the one-step sparse-matrix method for FWDM (OSM-FWDM) is developed and executed. This method involves a straightforward calculation of the full wave equation propagator through a Taylor expansion and using the so-called precise integration method. The computational efficiency can be significantly improved by using sparse-matrix multiplication in the implementation of wavefield extrapolation. Building upon that, the method serves as a basic solution complemented by FWDM, offering straightforward, efficient, and easy coding characteristics. Our OSM-FWDM method is simpler and faster compared with conventional FWDM, all while maintaining imaging accuracy. In addition, a new solution that uses an extended velocity model to remove source-related artifacts in FWDM is developed and illustrated. These improvements are demonstrated through a series of numerical examples and a real data application.