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Course Information

Course No: 154122

Course Name: Accounting for Software – Internal Use and External Sales

Field of Study: Accounting

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: After completing this section, you should be able to:

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
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 Material: Online Material

Program level: Overview

Prerequisites: None

Advance preparation: None

Type of delivery method: QAS Self-study

Recommended CPE credits: 2.5

Final examination expiration date: The program participant will have one year from the date of purchase to complete the course and final examination.