Flashcards in Computer Software Costs Deck (6)
Once the software has reached ______ ______ an entity can capitalize the costs related to the internal development of the software.
Technological feasibility is defined as...?
The point when the program or model is complete, but the product is not yet on the market
Amortization of software costs is the greater of SL amortization or ((current revenue/expected revenue) x cost). TF
GAAP requires software costs be capitalized immediately. TF
False, expensed until the point of technological feasibility is met
IFRS requires software costs related to research to be expensed, and those related to development to be capitalized. TF