28 February 2009
Hey, i know the difference of capitalizaing it out and expensing it out. and i also dont require which software to be capitalized.
Im in query whether is it compulsorily required to capitalize softwares (not talking of huge softwares such as SAP/ERP implementation, they are ofcourse capitalised)or note as said earlier will suffice..
28 February 2009
It will depend whether the software results in increase of inflow of resources and has useful life of more than 1 year or not(Criterion as per AS-10 for determination of Fixed Assets).
CAclubindia
