CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

Accounting for Software Sales

Icon_Self-Study
Self-Study
Icon_Level
Overview
Credits
CPE Credits
1 Credits: Accounting

Course Description

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.

Learning Objectives

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

Course Specifics

Course ID
1223565
Original Release Date
January 10, 2022
Number of Pages
30
Prerequisites

There are no prerequisites.

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Kelen Camehl Headshot
Kelen Camehl, CPA, MBA

Kelen is a CPA with over 15 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Advisor with HP, Inc. in Budapest, Hungary and previously served as a Senior Accounting Policy Manager for the company in Houston, TX (relocated in 2018 due to spousal expat 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. Kelen is …

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Accounting for Software Sales

Expert Instructors
Format
CPE CREDITS
1 Credits: Accounting

$29.00$49.00

Clear
Icon_Self-Study
Self-Study
Icon_Level
Overview
Credits
CPE Credits
1 Credits: Accounting

Course Description

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.

Learning Objectives

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

Course Specifics

Course ID
1223565
Original Release Date
January 10, 2022
Number of Pages
30
Prerequisites

There are no prerequisites.

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Kelen Camehl Headshot
Kelen Camehl, CPA, MBA

Kelen is a CPA with over 15 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Advisor with HP, Inc. in Budapest, Hungary and previously served as a Senior Accounting Policy Manager for the company in Houston, TX (relocated in 2018 due to spousal expat 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. Kelen is …

Kelen Camehl, CPA, MBA Read More »

Accounting for Software Sales

Expert Instructors
Format
CPE CREDITS
1 Credits: Accounting

$29.00$49.00

Clear