Accounting Standards Codification Asc 350-40 Internal-use Software

Many entities develop software that will either be used internally or sold to others. The primary subtopics in the Financial Accounting Standards Board's Accounting Standards Codification (ASC) that must be considered when determining the accounting treatment for the related software development costs are ASC 985-20, Software – Costs of Software to be Sold, Leased, or Marketed, and ASC 350-40, Intangibles – Goodwill and Other – Internal-Use Software. Nxp Usb Si-tuner Capture Win7 Drivers. ASC 985-20 is applicable to costs incurred to develop or purchase software to be sold, leased or otherwise marketed as a separate product or as part of a product or process, while ASC 350-40 is applicable to costs incurred to develop or obtain software solely to meet an entity's internal needs and for which no substantive plan exists or is being developed to externally market the software.

Update 2015-05—Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40). Accounting Standards Codification; Accounting Standards Updates Issued. An overview of FASB Accounting Standards Codification. The full text of ASC 350, Intangibles — Goodwill and Other. 350-40 Internal-Use Software. The presenter will discuss the current financial accounting guidelines specifically FASB ASC 350-40, Internal-use software and how best to apply them. FASB Accounting Standards Codification Subtopic 350-40 (“ASC Subtopic 350-40”), Internal Use Software, is the primary source of authoritative guidance. Prior guidance.