Accounting for Software
Articles by: Richey May, Jan 10, 2017
With many in the mortgage industry looking to technology to reduce costs and increase efficiencies, it’s crucial to understand proper accounting methodology before your company embarks on software development. Understanding whether or not software is intended for internal use only or will be sold externally is step one, as separate accounting standards are used for each purpose, but other factors also determine how revenue can be recognized and expenses can be capitalized throughout the development process.
To help you better understand the accounting concerns related to software development, the professionals at Richey May have published the following white paper: