How to Account for Internal-Use Software Arrangements ON DEMAND
Available Until
Your Desk
1.0 Credits
Member Price $29.00
Non-Member Price $33.00
Overview
This course provides an overview of the accounting for internal-use software. The accounting and reporting requirements related to internal-use software can be found within ASC Topic 350-40. The primary information addressed within this ASC Topic relates to the development costs that should and should not be capitalized, how those costs are amortized, how they are tested for impairment, as well as presentation and disclosure requirements.
Highlights
What is and is not Internal Use Software? Scope of Internal Use Software Guidance. Hosting Arrangements. Stages of Software Development. Commencement of Capitalization. Amortization - Cloud-Based Arrangements. Balance Sheets. Statement of Cash Flows.
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
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 $33.00
Member Price $29.00