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Accounting for Software – Internal Use and External Sales
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Accounting for Software – Internal Use and External Sales
Course Description:
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.
Learning Objectives:
Upon successful completion of this course, participants will be able to:
• Distinguish between software that is considered internal-use and not considered internal-useCourse Description:
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.
Learning Objectives:
Upon successful completion of this course, participants will be able to:
• 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
Course Number:
KC27
NASBA Field of Study:
Accounting
Level:
Basic
Author/Instructor:
Kelen F. Camehl, CPA, MBA
Publication Date:
February 2022
CPE Credits:
2
Prerequisites:
None
Advanced Preparation:
None
KC27
NASBA Field of Study:
Accounting
Level:
Basic
Author/Instructor:
Kelen F. Camehl, CPA, MBA
Publication Date:
February 2022
CPE Credits:
2
Prerequisites:
None
Advanced Preparation:
None
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