Book Review: Software Industry Accounting

Article excerpt

Software Industry Accounting is intended to provide all you need to know about accounting for the software industry. The heart of the book concerns SFAS 86, Accounting for the Costs of Computer Software to Be Sold, Leased, or Otherwise Marketed and SOP 91-1, Software Revenue Recognition.

Author Joseph M. Morris, a former project manager of the FASB with responsibility for software industry accounting matters, has written chapters on software revenue recognition, methods of contract accounting, capitalization, amortization, and net realizable value testing of costs, and financial reporting. Francis O'Brien, a member of the task force that was responsible for the issuance of SOP 91-1, provides a chapter on the history of the project that led to the issuance of both documents. Lynne Turner, the SEC observer of the project, wrote a chapter on the SEC's involvement and contribution to the project. Other contributing authors have written chapters on the background of the industry and auditing financial statements of software companies. Both SFAS 86 and SOP 91-1 are included as appendixes.

To a certain extent the book contains too much information, as if the discussion had been expanded to fill a certain number of pages. …


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