Software Industry Accounting, Second Edition

The software industry is being inundated with important accounting and valuation questions. The rules and regulations governing accounting of the software industry are very different from other industries. The software industry has unique accounting concerns, such as capitalization of development costs and software revenue recognition. This book emphasizes accounting and financial reporting, and discusses taxation, law, and general industry subjects.

About the Author

Joseph M. Morris is an accounting, tax, and general business consultant and an author of books for practicing accountants and financial professionals. Mr. Morris starter his career with Coopers & Lybrand and later in his career served three years at the Financial Accounting Standards Board (FASB) as project manager. From 1996 to March 1999, he was Senior Vice President and Chief Financial Officer and a member of the Board of Directors of ITEX Corporation, a publicly-traded company, which provides diversified financial services and operates the largest organized commercial barter exchange. Prior to that, he was Vice President and Corporate Controller of Scientific Software-Intercomp, Inc., a publicly-traded NASDAQ company, from 1984 to mid-1995, except from 1998 to 1990, when he worked at the FASB where he was responsible for the major project on Consolidations and Related Matters, which included accounting for consolidated financial statements and parent-subsidiary relationships, accounting, acquisition for acquisitions, and accounting for joint ventures. He was also the FASB staff specialist in accounting for the software industry in which capacity he served as the FASB Staff liaison and advisor to the AICPA Task Force that developed SOP 91-1 on software revenue recognition and the FASB staff specialist responsible for interpretation and of advising on FASB Statement No. 86. Earlier in his career, Mr. Morris was with Lone Star Industries, Inc., and in public accounting with Cooper & Lybrand L.L.P. Mr. Morris has authored various Wiley books, including the first edition of Software Industry Accounting, which received the Association of American Publishers award for Best New Professional Book in Accounting Practice for 1883, and Mergers and Acquisitions: Business Strategies for Accountants, which received the Association of American Publishers award for Best New Professional Book in Accounting Practice for 1995.