Online Home Business

Archive for April, 2009

Question: How is a static software product classified as a business asset?

Company owns & markets an old software product. Was the first of its kind, fully home grown, no long term future. But will still sell decently for probably 3-5 years. Proprietary nature precludes re engineering, so is architecturally static. No true R&D possible, though can be improved in marginal ways, which clients like. So, exactly how would this product be classified as a business asset, from the perspective of management/accounting?

Answer: Because it belongs to the company.They own that and that’s what they make their money off of. It’s not something they owe.

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