We are revising our software licenses to be "all-inclusive," meaning there is one price for a term that includes the license, maintenance, and services. Most agreements are three years. How do we recognize revenue under GAAP?

revenue-recognition license gaap

asked by Maddy

More particularly, when is IFRS used for accounting guidance and when is GAAP used? What are the regulatory implications?

accounting compliance gaap ifrs

asked by chancellor23

We have an internal software development team. They develop new products, but they also maintain existing products. What costs get capitalized? Does all development for new products get capitalized? Is there any discretion. For example, if the product is an add-on to an existing solution, does that matter. We would prefer to take the expense in the current year to reduce taxable income, but I'm not sure if that is permitted. What about the maintenance work? Is software maintenance work (done by the same people) always an expense? Under what circumstances would it be capitalized? I need to know the GAAP treatment.

accounting software-development gaap

asked by boris89