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Q: accounting for obsolete software ( No Answer,   1 Comment )
Question  
Subject: accounting for obsolete software
Category: Business and Money > Accounting
Asked by: smw123-ga
List Price: $10.00
Posted: 30 Mar 2004 08:06 PST
Expires: 31 Mar 2004 09:36 PST
Question ID: 322382
when is the proper period for writing off obsolete software?  Would
like to write it off end of year, new system won't be implemented
until March of the following year.  Is there proper justification for
wirting off the net book value in December?

Clarification of Question by smw123-ga on 30 Mar 2004 11:24 PST
The "old" system will remain in use until the new one is fully implemented.

Request for Question Clarification by denco-ga on 30 Mar 2004 15:48 PST
Howdy smw123-ga,

Is it "off the shelf" software, when was the software placed into service,
and have you amortized any of the cost of the software to date?  Thanks!

Looking Forward, denco-ga - Google Answers Researcher

Clarification of Question by smw123-ga on 30 Mar 2004 19:38 PST
It's an upgrade of MAS 200 to MAS 500. I'm sure there's a bit of
customization done to it. Not sure of the service date of the original
system, probably close to 3 years old. Yes some of the cost has been
amortized, current NBV = $89K.
Answer  
There is no answer at this time.

Comments  
Subject: Re: accounting for obsolete software
From: nelson-ga on 30 Mar 2004 17:59 PST
 
Not sure if it makes a diff., but software is usually "licensed' not "bought".

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