Accounting for Software Costs Self-Study Webinar
Overview
Businesses today rely heavily on software to remain competitive and productive. While the consistent developments and variety offered by modern software is vital for growth, accounting for software continues to present a challenge. In this session, we will discuss:
- Applying appropriate guidance
- Internal and external software use and development costs
- Implementation costs for cloud computing arrangements
- Other software accounting considerations
Objective
To provide accountants and financial professionals with the latest updates on the rules and regulations governing accounting for software costs, while also looking ahead in order to anticipate and prepare for future FASB projects and developments.
DETAILED LEARNING OBJECTIVES
• Identify the accounting guidance that applies to third-party or internally generated costs typically associated with business process reengineering activities
• Recognize when software costs are capitalized under ASC 985-20
• Recognize characteristics of the working model in software development
• Identify the project stages of internal-use software
• Identify what method of amortization is used for internal-use software
• Identify the section of the statement of cash flows in which externally marketed software costs are recorded
• Recognize where the amortization of capitalized costs relating to internal-use software are recorded on the income statement
• Identify the appropriate accounting treatment for costs incurred during the planning stage of developing and populating an internet website
Emphasis
- Differences Between ASC 985-20 and ASC 350-40
- Establishing Technological Feasibility
- External Marketing
- Amortization of Software Costs
- Impairment Assessment Considerations
- Software vs. Service
- Examples of Cloud Computing
- FASB Software Cost Project
This course is included in the following passes:
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