How should internally generated computer software projects in progress as of Sept. 1, 2009, be reported?
If either the Preliminary Project Stage or the Application Development Stage was in progress on Sept. 1, 2009, capitalization of the allowable project costs after Sept. 1, 2009, is required if it meets the $1 million capitalization threshold. Capitalizable costs prior to Sept. 1, 2009, are not required to be reported and do not need to be included in the $1 million threshold determination.
Related Questions
- My company had software development expenses; however, a final product was never used internally or marketed. Should software expenses be reported if no final product is created?
- Are ending year adjustments for internally generated computer software required to reclassify payroll/benefit costs for internal direct labor?
- How should internally generated software be reported if stoppage occurs?
