Accounting for Software Sales 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 the costs of software to be sold, leased, or marketed. The accounting, reporting, and disclosure requirements related to this type of software is prescribed by ASC Topic 985-20. This course primarily addresses the concept of technological feasibility and how this impacts the cost classification of software development costs. The course also addresses the respective presentation and disclosure requirements.
Highlights
Technological feasibility. Costs incurred after technological feasibility. Production costs. Inventory costs. Purchased software for resale. Funded software development arrangements. Amortization of capitalized costs.
Prerequisites
None.
Designed For
CPAs, CFOs, controllers, financial professionals, and auditors.
Objectives
Distinguish between the different areas of U.S. GAAP related to software. 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.
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