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Accounting for Software - Internal Use and External Sales (Course Id 1980)

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Author : Kelen Camehl, CPA, MBA
Status : Production
CPE Credits : 2.5
IRS Credits : 0
Price : $22.45
Passing Score : 70%
Course Type: NASBA QAS - Text - Technical - NASBA Registry
Primary Subject-Field Of Study:

Accounting - Accounting for Course Id 1980

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.

Usage Rank : 0
Release : 2022
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 23-Mar-2022
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - Text - Technical - NASBA Registry - 1980

Keywords : Accounting, Software, Internal, Use, External, Sales, cpe, cpa, online course
Learning Objectives :

Chapter 1
Internal-Use Software Arrangements

Upon completion of this chapter, you will 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

Chapter 2
Software for Resale

Upon completion of this chapter, you will be able to:
  • 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 Contents :

Chapter 1 - Internal-Use Software Arrangements

Learning Objectives

Chapter Overview

Introduction

What is and is not Internal-Use Software

Scope of Internal-Use Software Guidance

Stages of Software Development

Preliminary Project Stage

Application Development Stage

Postimplementation-Operation Stage

Upgrades & Enhancements

Commencement of Capitalization

Amortization Non-Cloud Based Arrangements

Amortization Cloud Based Arrangements

Impairment Considerations

From Internal-Use to External

Presentation Requirements

Disclosure Requirements

SEC Filing Disclosure Examples

Chapter Review Questions

Chapter 2 - Software for Resale

Learning Objectives

Chapter Overview

Introduction

Scope

Technological Feasibility

Costs Incurred After Technological Feasibility

Production Costs

Inventory Costs

Purchased Software for Resale

Funded Software Development Arrangements

Amortization of Capitalized Costs

Chapter Review Questions

Glossary of Key Terms

CPE Accounting Course: https://www.cpethink.com/accounting-cpa-courses
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