MYCPE ONE

Accounting for Software Sales 1.5 Credits 1.5 Credits

Accounting for Software Sales 1.5 Credits 1.5 Credits

  • Kelen Camehl

    | CPA (US), MBA

  • Rating

    4.5

  • Reviewed on

    February, 2025

    Reviewed on

    February, 2025

  • Subject Area

    Accounting

Learning mode

E-Book
  • Access the course at your convenience
  • Take the assessment test
  • Get your certificate
  • Attend the live interactive session
  • Answer the polling questions
  • Get your certificate

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AI Review Summary

Generated by AI based on all course reviews

Learning Objectives

  • To differentiate between the different areas of U.S. GAAP related to software
  • To recognize software that is within the scope of ASC Topic 985-20
  • To identify how software costs are recorded before and after establishing technological feasibility
  • To identify general disclosure requirements related to software for resale
  • To recognize how amortization is recorded for capitalized software cost

Course Overview

The software can often be thought of as existing within two different buckets.  The first bucket is internal-use software, this type of software is not intended to be sold to customers. The U.S. GAAP guidance with respect to internal-use software is prescribed by ASC Topic 350-40. The second bucket is software that is intended to be sold, leased, or marketed, this software is developed to be sold for profit to a customer.

This Online CPE course addresses the concept of technological feasibility and how this impacts the cost classification of software development costs. This Online CPE Course focuses on those costs that are incurred to bring that software to a point where it can be sold to a customer.  From that point, the revenue recognition guidance applicable to all contracts with customers takes over.

This CPE Course provides an overview of the accounting, reporting, and disclosure requirements related to software sales as prescribed by ASC Topic 985-20.

This Online Accounting CPE course includes following key topics:

  • Scope of ASC Topic 985-20.
  • Technological Feasibility
  • Costs Incurred After Technological Feasibility
  • Production and Inventory Cost
  • Purchased Software for Resale
  • Funded Software Development Arrangements

On Demand Credits for All Qualifications

License details Credits Status
Accounting for Certified Public Accountants (CPA-US) 1.5 CPE Approved
Financial Accounting for Certified Internal Auditors (CIA) 1.5 CPE Eligible
Accounting for Certified Fraud Examiner (CFE) 1.5 CPE Eligible
Financial Reporting for Certified Management Accountants (CMA) 1.5 CPE Eligible
Certified Valuation Analyst (CVA) 1.5 CPE Eligible
Financial Reporting for Certified Financial Forensics (CFF) 1.5 CPD Eligible
Chartered Financial Analyst (CFA) 1.5 PL Eligible
Certified Government Financial Manager (CGFM) 1.5 CPE Eligible
Internal Audit Practitioner (IAP) 1.5 CPE Eligible
Financial accounting concepts for Certified FP&A Professional (FP&A) 1.5 CE Eligible
Qualification in Internal Audit Leadership (QIAL) 1.5 CPE Eligible
Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 1.5 CPE Eligible
CIPM 1.5 PL Eligible
License details Credits Status
Accounting for Certified Public Accountants (CPA-US) 1.5 CPE Approved
Financial Accounting for Certified Internal Auditors (CIA) 1.5 CPE Eligible
Accounting for Certified Fraud Examiner (CFE) 1.5 CPE Eligible
Financial Reporting for Certified Management Accountants (CMA) 1.5 CPE Eligible
Certified Valuation Analyst (CVA) 1.5 CPE Eligible
Financial Reporting for Certified Financial Forensics (CFF) 1.5 CPD Eligible
Chartered Financial Analyst (CFA) 1.5 PL Eligible
Certified Government Financial Manager (CGFM) 1.5 CPE Eligible
Internal Audit Practitioner (IAP) 1.5 CPE Eligible
Financial accounting concepts for Certified FP&A Professional (FP&A) 1.5 CE Eligible
Qualification in Internal Audit Leadership (QIAL) 1.5 CPE Eligible
Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 1.5 CPE Eligible
CIPM 1.5 PL Eligible

Additional Information

Credits

1.5

Course Level

Basic

Instructional Method

QAS Self Study

Group Internet Based

Pre-requisites

None

Advance Preparation

None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

About Author

Kelen is a recognized author and reviewer of CPE courses and has authored over 150 courses (370+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics.  His courses are available for purchase from many online CPE providers including the AICPA.  Kelen remained involved in CPA exam content development for nearly 10 years and authored more than a thousand multiple choice questions for various sections of the CPA exam.  He also serves as an Editorial Advisor for the AICPA’s "Journal of Accountancy".    

Kelen has nearly 20 years of progressive finance and accounting experience. He currently serves as a Principal in Accounting Policy with HP in Doha, Qatar.  Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.

Kelen is a recognized author and reviewer of CPE courses and has authored over 150 courses (370+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics.  His courses are available for purchase from many online CPE providers including the AICPA.  Kelen remained involved in CPA exam content development for nearly 10 years and authored more than a thousand multiple choice questions for various sections of the CPA exam.  He also serves as an Editorial Advisor for the AICPA’s "Journal of Accountancy".    

Kelen has nearly 20 years of progressive finance and accounting experience. He currently serves as a Principal in Accounting Policy with HP in Doha, Qatar.  Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. Our courses qualify for credits with NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other professional organizations.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses accepted by NASBA and other professional organizations?

MY-CPE LLC courses are accepted for continuing education credit by various professional certification programs, including NASBA, IRS, CFP Board, and HRCI. MY-CPE LLC is also recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP® and SHRM-SCP® recertification activities.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other professional organizations for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Reviews and Ratings

out of 5

Excellent (60%)

Very Good (26%)

Average (14%)

Poor

Terrible

JM

Jeffrey Mcgahren, CPA (US)

5

Easy to read and learned quite a bit about an area which I might have to deal with down the road. Course was well written and not overwhelming.

PR

Pamela Rower, CPA (US)

5

Excellent writing, very straight forward explanations of concepts. Best course I have taken so far. Pam

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Accounting for Software Sales

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