Accounting for Software – Internal Use and External Sales ON DEMAND
Available Until
Your Desk
2.0 Credits
Member Price $29.00
Non-Member Price $33.00
Overview
This course provides an overview of the accounting for software, including both internal-use software as well as software that will be sold to third parties. The accounting, reporting, and disclosure requirements related to software depends on the nature of the software, and whether it will be used internally by an entity or will be marketed to its customers. For internal-use software, the guidance is prescribed by ASC Topic 350-40. On the other hand, the guidance related to software to be marketed and sold is prescribed by ASC Topic 985-20.
Highlights
What is and is not internal use software? Stages of software development. Commencement of capitalization. Amortization. Internal use to external. Embedded software. Technological feasibility. Considerations with multiple modules. Allocation of indirect costs. Alternative future use. Software for resale disclosure requirements.
Prerequisites
None.
Designed For
CPAs, CFOs, controllers, financial professionals, and auditors.
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.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $33.00
Member Price $29.00