This course provides an overview of the accounting for the costs of software to be sold, leased, or marketed. The accounting, reporting, and disclosure requirements related to this type of software is prescribed by ASC Topic 985-20. This course primarily addresses the concept of technological feasibility and how this impacts the cost classification of software development costs. The course also addresses the respective presentation and disclosure requirements.
Course Publication Date:
March 22, 2022
This course is available with
NO ADDITIONAL FEE if you have an active
self study membership or
all access membership or can be purchased for
$25.00!
| Author: | Kelen Camehl |
| Course No: | ACT-SOFTSALIE-8322 |
| Recommended CPE: | 2.50 |
| Delivery Method: | QAS Self Study |
| Level of Knowledge: | Overview |
| Prerequisites: | None |
| Advanced Preparation: | None |
| Recommended Field of Study: | Accounting
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Learning Objectives
- Distinguish between software that is considered internal-use and not considered internal-use.
- Recognize how implementation costs are accounted for in various stages of software development.
- Identify when capitalization and amortization should commence.
- Recognize how implementation costs of hosting arrangements are accounted for differently.
- Recognize software that is within the scope of ASC Topic 985-20.
- Identify how software costs are recorded prior to and after establishing technological feasibility.
- Recognize how amortization is recorded for capitalized software costs.
- Identify general disclosure requirements related to software for resale.