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capitalisation of software

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(Querist)
27 February 2009 dear all,
piz tell me whether software should be cpitalize or not
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
27 February 2009 If you are going to get the benefit of software for more than one year then you can capitalize the software.
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Simant Prakash

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Simant Prakash (Expert)
27 February 2009 Application softwares(MS Windows)etc. are generally charged off in one year, owing to technological changes. However, this is only GAAP.

As regards ERPs, there is an EAC opinion which says that SAP cost should be capitalised if they meet the requirments of AS 26 on Intangible assets.
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