Plans to Update Decades-Old Software Accounting Rules Take Shape

▤ Summary

US accounting rulemakers have winnowed down two possible solutions to give software accounting rules their first major makeover in decades. Either way, there won’t be a one-size-fits-all solution. Both options up for debate involve accounting for different types of software costs in different ways, members of the Financial Accounting Standards Board said on Wednesday But FASB members expect that either option will be an improvement over the complex, outdated methods companies follow today. The decades-old standards, last updated in 1998, require different ways to record expenses based on whether the software will be for sale to the general public or ...

▦ Linked Companies