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Accounting for Software – Internal Use and External Sales (IUES)

  • Format Self-Study Download
  • Credits 2.00
  • Level Basic
  • Field of Study Accounting (2)

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.



Major Topics:

  • The accounting, reporting, and disclosure requirements related to software
  • Internal-use software arrangements
  • Cloud and non-cloud based arrangements
  • Software for resale
  • Software sold to third parties
  • ASC Topic 350-40
  • ASC Topic 985-20

Learning 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

Who should take this course:

Financial practitioners who want an overview of the accounting for software, including both internal-use software as well as software that will be sold to third parties

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QAS Approval Surgent
IRS Approval Surgent
CFP Approval Surgent
CTEC Approval Surgent
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