Accounting for Software Costs

Front

What is the biggest change in the proposed update? Options: capitalizing all expenses, removing project stages, classifying software costs as financing activity, expanding to external-use software

Back

removing project stages

Front

Where will software costs be accounted for in the statement of cash flows? Options: investing, financing, operating, software costs are not in the statement of cash flows

Back

investing

Front

What stage is the FASB currently at with this ASU? Options: research & development, final decision made, comment letters due, board deliberations

Back

board deliberations

Front

Which potential alternative in the proposed update were most comment letters collectively against? Options: accounting for software costs in the investing section of the SOCF, removing the project stages, the single model, probable-to-complete recognition threshold

Back

the single model

Front

What is the main reason for the software costs ASU?

Back

current accounting did not align with the way software is developed in modern era