FASB Discusses Software Costs
March 22, 2024
At its March 20, 2024, meeting, the FASB discussed the accounting for and disclosure
of software costs. The Board tentatively decided to:
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Make targeted enhancements to the guidance in ASC 350-40 on internal-use software.
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Not “pursue a single model” related to recognizing and measuring software costs.
In addition, the Board asked the staff to look into whether the transparency of
disclosures about software costs could be improved.
For more information, see the tentative Board decisions on the FASB’s Web site.