How to capitalise intangible assets (softwares created internally)

Sangeeta (Chartered Accountant) (39 Points)

26 September 2019  

I want to know how to carry out the capitalization of expenses incurred towards creation of an intangible asset being software. Also, would be helpful if someone could throw a light on how to account for / capitalize such software, patented as well as non patented. Further, reference of relevant Accounting Standard to be referred will be helpful. And where can I find the latest AS copy.

 

Second question is what can be the fees which can be charged by professional for carrying out the above exercise.