Does anyone know the proper accounting treatment for software development being utilized for internal construction projects (capitalize or expense)? We would like to capitalize (as part of Fixed Assets such as Building) all the development costs that are typically expensed (data conversions, G&A, Program and Project Management, Functional Requirements definition, etc) as outlined in Statement of Position 98-1: Accounting for the Costs of Computer Software Developed or Obtained for Internal Use.
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