Accounting for Software Sales
 
Course Description:
 
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.
 
Learning Objectives:
 
Upon successful completion of this course, participants will be able to:

· Distinguish between the different areas of U.S. GAAP related to software

· 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

Course Number:
KC20
NASBA Field of Study:
Accounting
Level:                   
Basic
Author/Instructor:
Kelen F. Camehl, CPA, MBA
Publication Date:
December 2021
CPE Credits:
1
Prerequisites:
None
Advanced Preparation: 
None