Accounting for Software ON DEMAND
Available Until
Your Desk
1.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
Software is one of the more unusual assets, because the accounting for it varies, depending on whether it is intended for internal use or for sale to others. In this course, we cover the accounting rules for both of these scenarios, as well as the most likely revenue recognition rules for a software sale, and the software presentation and disclosure topics that should be included in a company’s financial statements.
Highlights
Internal use software. Internal use software accessed via a hosting arrangement. Website development costs. Software intended for sale. Software inventory. Accounting for costs to develop entertainment and educational software. Revenue recognition for software sales. Presentation issues. Disclosure issues.
Prerequisites
None.
Designed For
CPAs, CEOs, CFOs, controllers and other financial managers.
Objectives
Recognize when software is considered to be for internal use or for sale. Specify the circumstances under which software costs and website development costs can be capitalized. Identify the steps required to recognize revenue from a software sale transaction. Recognize the presentation and disclosure topics relating to software.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Kelen Camehl, Western CPE
Kelen is a recognized author and reviewer of CPE courses and has authored over 85 courses (225+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. His courses are available for purchase from many online CPE providers including the AICPA. Kelen has also remained involved in CPA exam content development for nearly 10 years and has authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s “Journal of Accountancy”.
Kelen has over 15 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Consultant with HP, Inc. in Dallas, TX. Most recently he was located in Budapest, Hungary on a three-year international assignment and served in the company’s Houston, TX location prior to this assignment. Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.
Non-Member Price $67.00
Member Price $58.00