ACCOUNTING TREATMENT OF SOFTWARE
This query is : Resolved
21 April 2009
WE HAVE INSTALLED LICENCED VERSION OF MICRO SOFT WINDOWS XP IN OUR COMPUTERS. MY QUERY IS HOW TO WRITE OFF THE EXPENDITURE INCURRED IN THIS INSTALLATION? DO THESE NEED TO BE AMORTISED ?
21 April 2009
This expense os not of revenue nature so it should be deferred over a period of its useful life. may be taken as 5 years.
21 April 2009
Software is a fixed asset, you can charge depreciation on it.
21 April 2009
Software is a fixed asset, you can charge depreciation on it.
21 April 2009
capitalise it and write off as per life or as write off in 5 years unless some what long period is justified
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