Accounting for Software - Internal Use & External Sales ON DEMAND
Available Until
Your Desk
2.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
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.
Highlights
What is and is not Internal-Use Software? Stages of Software Development. Commencement of Capitalization. Amortization - Cloud-Based Arrangements. Internal-Use to External. Embedded Software. Technological Feasibility. Considerations with Multiple Modules. Allocation of Indirect Costs. Alternative Future Use. Software for Resale Disclosure Requirements (ASC 985-20)
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 $67.00
Member Price $58.00