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PeopleSoft recorded capitalized software amortization, included in Cost of license fees in the accompanying consolidated statements of operations, of $36.8 million in 2003, $14.4 million in 2002 and $6.5 million in 2001.
PeopleSoft accounts for the development cost of software intended for sale in accordance with Statement of Financial Accounting Standards No. 86, Accounting for Costs of Computer Software to be Sold, Leased, or Otherwise Marketed, (SFAS 86). SFAS 86 requires product development costs to be charged to expense as incurred until technological feasibility is attained. Technological feasibility is attained when the Company s software has completed system testing and has been determined viable for its intended use. The time between the attainment of technological feasibility and completion of software development has been short with immaterial amounts of development costs incurred during this period. Accordingly, the Company did not capitalize material amounts of development costs in 2003 or 2002, other than product development costs acquired through business combinations or purchased from third parties. The Company capitalizes software acquired through technology purchases and business combinations if the related software under development has reached technological feasibility or if there are alternative future uses for the software.
Describe how software companies like PeopleSoft treat software development costs differently from the typical GAAP treatment of research and development costs in other industries. Why is this the case?
From the e-Activity, identify a local medium-sized service business in your community. Evaluate how you would implement a performance-focused ABC system in the company as described in the e-Activity.
Under the new method sales would increase by 15 percent each month, and net income would increase by one third. Fixed cost could be slashed to only $15,000 per month. Calculate the breakeven point for the company before and after the change in mar..
Goodwill arises when one firm acquires the net assets of another firm and pays more for those net assets than their current fair value. Suppose that Got Em Co. had operating income of $64,300 and net assets with a fair market value of $184,000. Ta..
Ashton Fleming has decided to document and analyze the accounts payable process at S&S so the transition to a computerized system will be easier.
ABC Inc., a specialized equipment manufacturer, uses a job order costing system. The overhead is allocated to jobs on the basis of direct labor hours. The overhead rate is now $2,000 per direct labor hour.
a. What is the economic order quantity? b. What is the average inventory if the economic order quantity is used?
Tax professional to decide on the best course of action from a tax perspective on their issues. make a three page memo (at least 300 words per page) to John and Jane Smith addressing the issues presented.
At December 31, 2008, the trial balance of Worcester Company contained the following amounts before adjustment. Based on the information given, which method of accounting for bad debts is Worcester Company using-the direct write-off method or the a..
Prepare the perpetual inventory schedule for the above transactions using (1) FIFO, (2) LIFO, and (3) average-cost. (If there is no entry, enter 0 for the amount. Round the unit average-cost to 2 decimal places. Round answers to 2 decimal places.)
If owner's equity increased $20,000- during the fiscal year and total liabilities increased $12,000- during the same period, what happened to the assets?
How much should the town report as property tax revenue in its General Fund statements for the year 2009?
Which one of the following current year income and expense items is not included in Dixon Corporation's Accumulated Adjustments Account?
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